Many of us revisit our budgets at the year’s close to be financially prepared for the coming year. It’s a wise step since it can be devastating to be caught unawares by unforeseen financial pressures, such as rising inflation or changes in career or personal circumstances.
We’ve got a few helpful tips for you as you prepare your 2023 budget:
What Are Some Top Tips For My 2023 Budget Prep?
A personal budget is creating a spending plan based on your income. These plans can be weekly, monthly, or yearly and are determined by how much money you make and how much money you spend. To prep your 2023 budget, start with these steps:
- Calculate the money you bring home and exclude taxes.
- Your top priorities are living expenditures, such as rent, maintenance, utility, food, grocery, gas, phone bills, and mortgage. These don’t include those extra expenses, such as a monthly shopping trip.
- Discretionary expenses that help you have fun, like fine dining, fitness classes, gym, library fees, sports club fees, and paid subscriptions, can be canceled or delayed if you are in a financial crisis.
- After excluding taxes, discretionary expenditures, and living expenses, the money you are left with is what you will use to execute your financial goals.
- Repaying your debt should be another top priority.
- Emergencies do not knock on your door before happening to you, so setting up an emergency fund is a wise financial move for 2023.
- Invest in a 401(K) or an IRA, and consult a financial advisor to ensure you understand all the tax implications.
Why Is Donating To A Charity Like Bridges Domestic Violence Center A Great Financial Decision For 2023?
The strength of our communities is drawn from the unity and support of the people who make up our communities. The most vulnerable members of our city or town need our help; in helping them, we help everyone else.
- Did you know? Charitable giving is good for you, too!
- In choosing to donate to BDVC, you are supporting some of the most vulnerable people in our society – abused and mistreated women and children.
- Your support helps BDVC provide many services to those in need, such as child advocacy, court advocacy, safe shelter, and much more.
Bridges Domestic Violence Center is dedicated to providing a safe pathway to independence. We understand that leaving an abusive situation can be complicated, challenging, and sometimes dangerous. Our team of highly-skilled domestic violence advocates ensures safe emergency shelters and resources to provide long-term goals of healing, safety, and self-sufficiency for domestic victims, survivors, and their loved ones.
All domestic violence services are offered in the strictest of confidence. Thanks to our friend’s and partners’ generous donations, we can offer our services free of charge!
If you need help, please call us at (615) 599 5777 or contact us online.
We are a member agency of United Way of Greater Nashville.