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Various research finds that the majority of Americans are anxious or stressed about their financial situations.
Ending money stress for good will take some therapeutic or self-reflective work and possibly some lifestyle changes.
In a recent blog post, financial expert Rachel Cruze shared a five-step budget plan that she swears by.
All youneed is a pen and paper to begin.
Include anything you get from your primary job as well as a side hustle, if applicable.
And include the income of anybody else in your household, provided theyre contributing to the expenses.
Otherwise, focus first on listing the four walls: housing, groceries, healthcare and transportation.
This means that every dollar you spend (or save or invest) has a purpose.
Nothing is left over and if you find that something is, budget it, dont waste it.
Its all accounted for and given a purpose.
Its the reason I love this method.
You may find that you dont have enough dollars to do all the jobs necessary in your financial life.
Maybe you cant afford to save or invest in your retirement.
Just remember to resist the urge to spend more when your income rises.
That extra cash should go toward your planned expenses.
Its also an evolving learning opportunity.
Once the month is done, you must start all over with next months budget.
Ideally, budgeting effectively will help you save money, which should help alleviate stress.
Cruzes plan is a great one to follow, no matter your wealth status.
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