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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.

  1. Get started:
  2. Create your budget:
  3. Stay on track:

Looking for more guidance?

Take advantage of Fidelity’s on-demand or live workshops on creating a budget, building emergency savings, or tackling debt.

On-demand Workshops:

Live 30-Minute Workshop: Create a Budget and Build Emergency Savings (log in to NetBenefits after you click register)
January 31, 2024
Register
February 9, 2024
Register
February 20, 2024
Register
February 29, 2024
Register
March 11, 2024
Register
March 20, 2024
Register
March 29, 2024
Register
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Congratulations! By reading this article, you’ve already taken an important step towards greater financial freedom.

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