Having difficulties sticking to your budget this year? It might be time to consider a new approach. Monthly and weekly budgets are helpful, but don’t take into account the many changes in expenses and income that occur during the year. After all, most usually think of their salary as an annual figure. By considering your expenses in the same way, you can create a more realistic budget.
The advantage of creating a yearly budget is that it can get you thinking about yearly expenses, such as vehicle costs and home maintenance issues. When you start to look at your whole year, you begin to see how your finances change with the seasons. This gives you a more realistic understanding of your financial health.
Here are 6 tips to help you develop a solid financial plan for the year.