having trouble staying on top of your bills?

Who isn’t in today’s world of $4.00 a gallon gas and rising grocery prices? How are families in our community able to pinch pennies yet still provide? It is possible, but will take some effort. The first step is to realistically and honestly assess your finances.

List your income. Include everything: take home pay, money you make doing odd jobs, child support and alimony.

Track your expenses. Keep a record of all your expenses for at least one month. Start by listing the obvious ones: rent or mortgage payments, tuition, utility costs, cable TV, phone bills and credit cards. It’s also very important to record your daily purchases, for example: what you spend on groceries, renting a movie, your morning coffee, gas and dry cleaning.

Develop a budget. After listing your income and expenses, use the information to create a budget. A budget is a schedule of income and expenses, typically broken up into monthly intervals and usually covering a one-year period. Simply put, a budget helps you track where your money is going.

Come up with a plan. If you find that you have more expenses than income, look at ways to lower your expenses or boost your income.

1. ing a lunch instead of eating out.

Make small lifestyle changes such as pack-

story by | Penny Ripplinger—RDA Financial Advisors, LLC

Budgeting and tracking your expenses gives you a strong sense of where your money goes. It can help you reach your financial goals, whether you are saving for a down payment on a house, starting a college fund for your kids, buying a new car, planning for retirement, paying off credit cards, or saving for that trip to Aruba. A budget doesn’t mean financial handcuffs but a means to achieve financial success.

If all of this is overwhelming and you don’t know where to start, consider seeing someone who can assist you. Look for a business that does Budget Management without a huge fee. Sometimes a spouse or relative is not always the most objective person to look to for help. In economic times like ours, everyone needs a financial partner, just like an exercise partner, to listen, encourage, and assist you until your goals become a reality.

At RDA Financial Advisors, we provide investment planning and financial guidance for the long and short term. For more information on financial support or to schedule a consultation call 701.277.8105, email ross.almlie@rdafinancial.com or visit our website at www.rdafinancial.com

2.

Take stock of your communication and entertainment costs. Consider how you use your cell phone, cable, and Internet. Buying a package that bundles multiple services could save you money.

Evaluate your insurance policies. You can

3. lower your insurance premiums by raising your deductibles.