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Budgeting for beginners

If you regularly find yourself out of money before payday, it's time to take a look at your budgeting, and this is the topic of the 4th video in UCC's guide to financial literacy.  

While the idea of looking at all your expenses can be stressful and cause anxiety, the reality is that the stress caused by running out of money on Wednesday but not being paid until Friday is far worse. 

Anyone who's been there knows that feeling, so if you're dreading the thought of looking at your financing, just keep in mind how much better you'll feel when you know your money is going to see you through to payday and beyond.  

Video #4 Budgeting 101

This is the classic example of 'simple but not easy.' The hard part comes at the very beginning: taking the bull by the horns and sitting down with pen and paper or a computer and listing all of your expenses. 

Next, write down all of your income sources. Subtract the expenses from your income and then take a moment to let the difference sink in.