It is no secret that many people are struggling with their finances. Those problems will only get worse for people who do not have a budget and work to stay within it.
Consumer Credit Counseling Service of Buffalo said the basics of building a family budget are simple:
-Track all your expenses for 30 days.
-See where the leaks are (like eating out) and then adjust your budget.
-Have variable expenses, such as gas and electric utility bills, put on a budget-billing plan so you pay the same amount every month.
-Don't forget to build-in yearly expenses like car repairs, taxes, and holiday gifts.
-Try to allocate $150 per person every month for groceries and household expenses.
-Work to create an emergency savings account. Consumer Credit Counseling recommends having enough money to cover for 6 months of expenses in case you need it.
For those who need help with paying their bills and creating a budget, Consumer Credit Counseling can be reached by calling (716) 712-2060.
7 Eyewitness News Reporter Ed Reilly has more in his report.
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