Successful businesses plan spending budgets and income targets for the calendar year and so should you with the CalendarBudget personal finance app. Often this happens in January for the current year after they have been able to collect and digest the previous year’s financials. You and your family deserve nothing less than success also. Its time to get your finances in order for the year. Yes, plans will change and things will come up, but a plan is priceless in guiding financial decisions and planning needed savings.

Take some time now and map out some of the following:

  • vacation plans
  • major purchases (think furniture, vehicles, entertainment systems, electronics, housing)
  • any life changes such as a new baby
  • plan your regular bills and expenses, birthdays, holiday spending
  • plan for some miscellaneous expenses every month.
  • plan to save some money
  • if possible, plan to pay down some of your outstanding debts more aggressively. Start with the highest interest debt and prepay as much as possible to reduce or eliminate interest on those debts.

It’s important to get your whole family on board with the plan so you don’t have to come across as “the heavy” when declining requests for spending. If everyone knows the plan, it’s much easier to control family spending.

Use some kind of tool. Don’t use a whiteboard or piece of paper (maybe you can start with that). I suggest an online solution that you can have access to from anywhere (home/work/friends place/etc.) CalendarBudget is a great option, but of course, there are other options. Choose one and go for it.

Best of luck with The New Year financial planning!

If you want to learn how to use an online budget tool, watch the short video (1 minute 17 seconds) and sign up for the 30-day free trial using the CalendarBudget personal finance app.