Quickstart Guide: Creating a Budget
Move closer to financial peace of mind and freedom with these 3 easy actions.
Consistently tracking your money with a personal budget can reduce stress and increase quality of life by helping you:
Save—and spend—with confidence. A budget gives you a clear picture of what you have coming in and going out. You’ll know exactly how much money you need to put toward essential monthly expenses like housing and paying off debt, saving for retirement, and building an emergency fund. What’s even more exciting is you’ll know how much you’ll have left over for your near-term wants and long-term goals—and be able to enjoy life without the question of “can I afford this?” hanging over your head.
Prepare for the unexpected. When you stick to your budget, you’re prepared when unexpected expenses arise because you’ve already put aside money in your emergency fund.
Make the most of your time. Taking a little time now to create a budget can save you a lot of time and headache later. Planning for your financial needs means less time spent worrying about money and more time for the people and experiences you love.
It’s important to recognize that budgeting isn’t about making a big life change overnight. It’s about forming small, consistent, healthy financial habits that make a big difference over time.
Here are resources to help you create, update, and track your budget.
- Get started:
- Learn about what to consider when creating a budget and how to think about budgeting in retirement.
- Review your current expenses before creating your budget so you can set realistic targets for yourself.
- If you’re managing debt, use Fidelity’s debt activity worksheet to help you work debt repayment into your budget.
- Create your budget:
- Stay on track:
- Life changes and so do your income and expenses. Make sure to update your budget throughout the year. You can use RPB’s custom budget tracker.
Looking for more guidance?
Take advantage of Fidelity’s on-demand or live workshops on creating a budget, building emergency savings, or tackling debt.
Live 30-Minute Workshop: Create a Budget and Build Emergency Savings (log in to NetBenefits after you click register)
|January 31, 2024
|February 9, 2024
|February 20, 2024
|February 29, 2024
|March 11, 2024
|March 20, 2024
|March 29, 2024