TEMPLE, Texas — According to Debt.com, 80% of Americans make budgets each month, but only one-in-three adhere to it and remain organized with their money.
Of the one-third who remain disciplined, 88% claim that being "money organized", keeps them out of debt.
It's safe to assume that when talking to any financial advisor about organizing your money, the first thing they are going to suggest is getting on a budget.
That’s what financial planner Rolandus Johnson told 6 News.
"You've got to prioritize and that comes with budgeting," said Johnson "So anytime that we start talking about prioritizing bills and different things like that, it always starts with the budget. Making sure that you have something written down and something that you review on a monthly basis. Saying I’ve got 'X' amount of dollars coming in on the first, and these are the first things that I’ve got to pay."
If you're someone who forgets to pay bills or has a little trouble with getting everything paid on time, take advantage of auto bill pay or reminders that companies provide, Johnson explained.
"I see it all of the time I mean this day in age, and technological ability that we have, there's so many different apps out there, on-line bill pay, things that can come out automatically, most companies now have automatic recurring payments," said Johnson. "And they'll just pull the money from the checking account."
And remember, you should also budget and plan for the fun you want to have with your money. After all, you work too hard not to enjoy!
Johnson again told 6 News: "When I do budget plans with clients, we always include fun. Again I've built my practice on giving you options of what to do, not telling you what to do right, I'm gonna' take you to the trough and you can drink if you want to drink but at least you know what you are getting into right? "
According to the balance.com, one-half of all Americans don't have 250.00 to spare. So that stat certainly shows American’s discretionary cash levels and how an emergency could impact your budget.