Smart Spending in the New Year

Posted December 27, 2012 at 12:16 pm

It’s that time of year again — credit card bills start rolling in and you realize just how much money you spent during the holiday season. In the aftermath, you resolve to make better financial choices in the new year.

If getting a better handle on your money is one of your goals for the new year, USA.gov offers advice to help you set up a budget so you can pay down debt, save some money and spend without breaking the bank.

Your budget doesn’t have to be overwhelming. Just jot down how much money you bring home each month and then subtract your fixed monthly expenses (mortgage or rent, utility bills, car payments, insurance, etc.). The amount left over should be split among savings accounts, paying down debt and paying for other expenses like your grocery and gas bills.

Of course, not all money matters are that straightforward. Sometimes you have to plan for big life events. MyMoney.gov can help you find ways to pay for college, understand health insurance options for a new family, learn ways to handle mortgage payments and more.

No matter what your financial goals are, you can find tips on budgeting, saving and smart spending from USA.gov.