The word BUDGET is always a dreaded word for everyone, but it is a necessary step in achieving financial freedom. To achieve financial freedom means you are managing your money rather than having your money manage you. You can be successful in reaching your goals in life once you have mastered being a money manager. To begin, you must start with a budget. A budget defines your sources of income and your expenses for a given period of time, usually by the month. To define your budget it is best to begin tracking your money flows going in and out. This is made easier if you use a financial app to track your finances. Kiplinger has a great article on five great financial apps that are FREE.
Choose the app that best fits your needs and get started today in tracking your finances. Once you have tracked your finances for at least three months, you have good information to begin working on your budget. The first step comes in knowing how your money is spent. Then you can begin making choices which will be your first steps in reaching financial freedom and achieving your goals.