[et_pb_section fb_built=”1″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_row _builder_version=”4.8.1″ _module_preset=”default” width=”100%”][et_pb_column type=”4_4″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_blurb image=”https:\/\/blogs.winona.edu\/wellness\/wp-content\/uploads\/sites\/6\/2021\/02\/Resized_20210212_140146.jpg” alt=”Budget” content_max_width=”100%” admin_label=”Intro Blurb & Image” _builder_version=”4.8.1″ _module_preset=”default” width=”100%”]<\/p>\n
Has the pandemic increased your stress about money and finances?\u00a0<\/span>Do your personal finances cause you\u00a0<\/span>stress?<\/span>\u00a0<\/span>Well<\/span>, it doesn\u2019t have to! I have some tips to help you stay on top of your finances and improve your financial wellness.\u00a0<\/span>\u00a0<\/span><\/p>\n To be able to<\/span>\u00a0effectively<\/span>\u00a0manage your money and budget<\/span>,<\/span>\u00a0you need to first understand how much\u00a0<\/span>money\u00a0<\/span>you spend,\u00a0<\/span>how much you\u00a0<\/span>make and\u00a0<\/span>how much you<\/span>\u00a0pay in fixed and variable expenses.<\/span>\u00a0<\/span><\/p>\n A\u00a0<\/span>fixed expense<\/span><\/b><\/a>\u00a0is an expense that is the same each month and is paid regularly. This could be things like\u00a0<\/span>WiFi<\/span>, rent, insurance or a vehicle payment.\u00a0<\/span>\u00a0<\/span><\/p>\n A\u00a0<\/span>variable expense<\/span><\/b><\/a>\u00a0is an expense that is not consistent and can change from month to month. This could be things like gas for your car, groceries, or utilities.\u00a0<\/span>\u00a0<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”3_5,2_5″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_column type=”3_5″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_blurb title=”How to Make A Monthly Budget” content_max_width=”100%” admin_label=”6 Steps Blurb” _builder_version=”4.8.1″ _module_preset=”default” width=”100%”]<\/p>\n Building a budget can sometimes seem like a\u00a0<\/span>daunting<\/span>\u00a0task<\/span>,<\/span>\u00a0but it\u00a0<\/span>doesn’t<\/span>\u00a0have to be if you f<\/span>ollow\u00a0these\u00a0<\/span>6\u00a0<\/span>easy\u00a0<\/span>steps<\/span><\/a>:<\/span>\u00a0<\/span><\/p>\n 1.Gather Your Financial Paperwork <\/span><\/b>\u00a0<\/span><\/p>\n Financial paperwork can include but is not limited to, b<\/span>ank statement<\/span>s, u<\/span>tility\u00a0<\/span>bills, c<\/span>redit card bills<\/span>,\u00a0<\/span>r<\/span>eceipts<\/span>, p<\/span>ay\u00a0<\/span>s<\/span>tubs<\/span>,\u00a0<\/span>and\u00a0<\/span>i<\/span>nvestment accounts<\/span>.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n 2. Calculate your Income <\/span><\/b>\u00a0<\/span><\/p>\n Determine how much money you make a week and then use that to calculate how much you make in a month.\u00a0<\/span>\u00a0<\/span><\/p>\n For example, let say you make\u00a0<\/span>$10 per hour\u00a0<\/span>and work 20 hours a week<\/span>, so y<\/span>ou take $10<\/span>\u00a0per hour and multiply that by 20 hours\u00a0<\/span>which equals $200.<\/span>\u00a0<\/span>T<\/span>here are four weeks<\/span>\u00a0per month,<\/span>\u00a0which mea<\/span>ns you would make around $800 per month (not factoring in taxes).\u00a0<\/span>\u00a0<\/span><\/p>\n 3. Create a List of Monthly Expenses <\/span><\/b>\u00a0<\/span><\/p>\n Monthly expenses can include but are not limited to<\/span>\u00a0things like<\/span>\u00a0g<\/span>roceries<\/span>, car payments, rent, loans, phone bill, insurance payment,\u00a0<\/span>Wi-Fi<\/span>, and\u00a0<\/span>any\u00a0<\/span>subscriptions<\/span>\u00a0you have\u00a0<\/span>(<\/span>e.g.,<\/span>\u00a0Netflix<\/span>, Hulu, Spotify<\/span>).\u00a0<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n 4. Determine <\/span><\/b>Your\u00a0<\/span><\/b>Fixed and Variable Expenses<\/span><\/b>\u00a0<\/span><\/p>\n Remember fixed expenses are the same each month and variable expenses change from month to month.<\/span>\u00a0<\/span><\/p>\n 5. Total Your Monthly Income and Expenses <\/span><\/b>\u00a0<\/span><\/p>\n Look at how much you earn each month and how much of that you spend.\u00a0<\/span>Are you spending more than you make? Are you making more than you spend?\u00a0<\/span>\u00a0<\/span><\/p>\n 6. Make Adjustments to<\/span><\/b>\u00a0Expenses\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n If you spend more than you make in a month or don\u2019t have enough money to pay your expenses<\/span>,<\/span>\u00a0it may be time to adjust your spending<\/span>\u00a0patterns<\/span>\u00a0or find a job\u00a0<\/span>to help<\/span>\u00a0pay for those<\/span>\u00a0expenses.\u00a0<\/span>\u00a0<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”2_5″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_blurb title=”Financial Wellness Tik Toks” admin_label=”Tik Tok Blurb” _builder_version=”4.8.1″ _module_preset=”default”]<\/p>\n Follow @WSUHealth on Tik Tok for financial wellness tips such as where to use a student discount and how to save money on coffee!<\/p>\n [\/et_pb_blurb][et_pb_video src=”https:\/\/blogs.winona.edu\/wellness\/wp-content\/uploads\/sites\/6\/2021\/02\/StudentDiscount.mov” admin_label=”Student Discount Tik Tok ” _builder_version=”4.8.1″ _module_preset=”default”][\/et_pb_video][et_pb_video src=”https:\/\/blogs.winona.edu\/wellness\/wp-content\/uploads\/sites\/6\/2021\/02\/SaveMoneyonCoffee.mov” admin_label=”Coffee Tik Tok” _builder_version=”4.8.1″ _module_preset=”default”][\/et_pb_video][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.8.1″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_blurb title=”Free Budget Apps ” content_max_width=”100%” admin_label=”Apps Blurb” _builder_version=”4.8.1″ _module_preset=”default” width=”100%”]<\/p>\n Here are some free apps that can help you track your spending, help you establish a budget, and even notify you if you are getting close or have\u00a0<\/span>exceeded<\/span>\u00a0your budget limits.<\/span>\u00a0<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_column type=”1_3″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_blurb title=”Mint” image=”https:\/\/blogs.winona.edu\/wellness\/wp-content\/uploads\/sites\/6\/2021\/02\/GWHpart2_Week02_01-12-01.png” alt=”Mint” admin_label=”Mint Blurb” _builder_version=”4.8.1″ _module_preset=”default”]<\/p>\n Budget, Bills, & Finance Tracker App<\/p>\n Android <\/span><\/a>|\u00a0<\/span>Apple<\/span><\/a>\u00a0<\/span>\u00a0<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_blurb title=”YNAB” image=”https:\/\/blogs.winona.edu\/wellness\/wp-content\/uploads\/sites\/6\/2021\/02\/GWHpart2_Week02_01-12-02.png” alt=”YNAB” admin_label=”YNBA Blurb” _builder_version=”4.8.1″ _module_preset=”default”]<\/p>\n Budget and Personal Finance<\/span><\/span><\/p>\n Android<\/span><\/a> |\u00a0<\/span>Apple<\/span><\/a>\u00a0<\/span>\u00a0<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_blurb title=”Truebill” image=”https:\/\/blogs.winona.edu\/wellness\/wp-content\/uploads\/sites\/6\/2021\/02\/GWHpart2_Week02_01-12-03.png” alt=”Truebill” admin_label=”TrueBill Blurb” _builder_version=”4.8.1″ _module_preset=”default”]<\/p>\n Budget Planner, Bill Tracker and Reminder <\/span><\/span>\u00a0<\/span><\/p>\n Android<\/span><\/a> |\u00a0<\/span>Apple<\/span><\/a>\u00a0<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.8.1″ _module_preset=”default” width=”100%”][et_pb_column type=”4_4″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_blurb content_max_width=”100%” admin_label=”Conclusion Blurb” _builder_version=”4.8.1″ _module_preset=”default” width=”100%”]<\/p>\n Get in control of your finances and stop letting your finances control you buy following these 6 simple steps to keep your budget in check.<\/span>\u00a0<\/span><\/p>\n