Smarter spending

Two people going over a budget.

If you’re having money problems, consider creating a budget to better understand and take control of your finances.

Studies show one-third of Americans are using financial programs or advisors to prepare their budgets. To ensure you can afford the things you need and want, experts say you should write down your budget and come up with a long-term plan.

Your budget should include two major components: income and expenses. Income represents the money you make, while expenses tally the amount you spend.

To determine where you stand at the end of each month, write down your income and subtract your expenses. If your total is less than zero, you’re spending too much on your expenses.

The LiteBlue Wellness page has more budgeting tips and information.