Creating a spending plan (also known as a budget) can be an important step towards taking control of your financial future. Spending plans don’t have to be restrictive, time consuming, or overwhelming. They can actually be empowering tools that help you achieve your financial goals and build financial security.
No matter your income level or financial circumstance, there is value - financial and emotional - in creating a spending plan.
Creating a plan
To learn how to create a spending plan that works for you, we recommend viewing the Allstate Foundation’s online course Bugeting (PDF version available here). This course is part of the Allstate Foundation’s Moving Ahead Curriculum, an educational resource designed to help survivors achieve financial independence and rebuild their lives. Topics in this course include:
- Creating a budget
- Identifying needs and wants
- Budgeting in practice
- Covering expenses
- Dealing with emotional spending
Another resource available to you is iQ Credit Union’s guide to Budgeting During a Crisis, which provides guidance on how to adapt your spending plan to overcome financial challenges.
Need more support?
Consider registering for an upcoming "Goals & Tools" virtual finance class. This 90-minute class is designed to help you develop short-, intermediate-, and long-term goals, and learn the tools to attain those goals such as banking and budgeting.
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