Savings Tips

1.  Be sure to list all of your income and expenses. It helps to look at old receipts, bank account statements and pay stubs from a few months.
If you don’t know exact numbers,put down your best estimate, you can always adjust your figures later.

2.  Add savings to your list of expenses. Try to put aside 10% of your gross income and put it into a savings account or other kind of investment, so you have some money that you can use if an emergency happens.

3. Make sure you have more income than expenses. When you have all income and expense items listed, subtract your expenses from your income.
You should have a positive amount remaining.

This is your bottom line and cushion for unforeseen expenses. If you have a negative amount remaining, you need to work at reducing your expenses to keep from going into debt.