Budgeting: The 7 Step Money Jumpstart

Step 1: Know Why Budgeting Matters

Quick Win: Write down one reason you want to manage your money better.

Budgeting isn’t about restriction — it’s about freedom and control.

Did you know? People who budget are 33% more likely to reach their financial goals.

Step 2: Set One Financial Goal

Choose one short-term and one long-term goal (e.g., pay off $500 debt, save for a car).

Use SMART goals: Specific, Measurable, Achievable, Relevant, Time-bound.

Example: "Save $300 for a holiday by December 1st."

Step 3: Track Your Income and Expenses

Look at your bank statements. Where does your money go? What’s coming in?

Resource: Courtesy of My Money Vision™, your eMoney website's budgeting feature breaks it down for you

Step 4: Choose Your Budget Style

Step 5: Find Your Fixed and Variable Expenses

Fixed: Rent, subscriptions, insurance

Variable: Groceries, gas, entertainment

Tip: Cut one non-essential expense this week. Example: Skip 2 takeout meals = save $40.

Step 6: Plan for Emergencies

Start an emergency fund goal of $500. Add it to your fixed expenses if possible.

Build over time — even $10/week adds up.

Step 7: Attack Debt & Celebrate Progress

List your debts. Choose a strategy:

• Snowball: Smallest balances first
• Avalanche: Highest interest rate first

Continue making progress every day, and you'll se how far you come!