Widows Well – Create a Budget

Why use a Budget?

Since most widows lose nearly seventy-five percent of their income, it is critical to look at your income sources and living expenses to make financial decisions for the present and future.

  • A budget helps you figure out your long-term goals and work towards them. It also enables you to map out your goals, save your money, and keep track of your finances.
  • Staying within your budget keeps you from spending money that you don’t have on things you might not need.
  • A budget helps you save for the future. If you cut back a little now, it will make your future or retirement years much more manageable.
  • Budgeting for an emergency fund helps meet unexpected financial needs without going into debt to pay for them.
  • A budget can reduce financial stress because it reveals your spending habits, refocuses your financial goals and takes the worry out of how you’re going to make enough.
  • Many people think a budget is restrictive. Actually, it frees us up to spend time on those things we have budgeted fort, without any guilt.