Budget vs. Spending Plan

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

(June 3, 2015)- Current spending habits may not be helping your overall financial goal. Most all the time we will set a budget for what we are currently spending. As a result, spending too much in one category can occur, which is why a spending plan is suggested to see what you need to cut back on.

Andy Mattingly with Forum Credit Union is here to discuss spending plans, and the different categories your spending money on. Mattingly suggests splitting these categories between 6 and 10 areas that include transportation, housing, utilities, dining, etc.

To find out more about the different ways to set up a spending plan watch this weeks segment of 4 Your Money.

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