Beautiful Virgin Islands

Tuesday, Jun 24, 2025

PAID ARTICLE: Your financial discipline begins with your budget

For many, the recommendations to stay home due to the COVID-19 pandemic imply working remotely, homeschooling or remote learning for children, and dealing with daily household chores that are now modified by the emergency, among other issues.

In short, we are busy with different tasks, but within an environment where technology and social media have had an increase. Amid so many tasks and adaptation processes, we must take breaks to reduce our anxiety and stress levels —even more so if our finances have been affected.

Take advantage of those breaks or rest periods and make time to expand your financial knowledge and skills. To do so, there’s nothing better than a practical budget exercise.

Financial discipline means sustaining and maintaining continuity in managing your money; it is making financial achievements while meeting short, medium, and long-term commitments. Your financial discipline starts with your budget. If we have discipline, saving and other financial goals can be achieved.

Your budget


A budget allows you to establish projections or plans in advance to efficiently manage your money. These projections and plans should not be stored in your mind; they must be defined and put down in writing. Periodically, and at least once a month, we must update our budget in an income, expenses, and debt worksheet.

Preparing a budget helps you to:


• Reduce the anxiety caused by not being able to meet your obligations

• Control expenses

• Plan and maintain savings

• Maximize resources during retirement

• Define your lifestyle according to your obligations and current income

Before starting the budget worksheet:


• Set a goal

• Identify your sources of income

• Make a list with the breakdown of your monthly expenses. It must include a retirement savings component and a portion (item) for contingencies or emergencies.

• Choose the tool in which you are going to keep track of your monthly budget. It can be an electronic worksheet on your device or an actual sheet of paper.

Here is an example of an editable budget worksheet in PDF format; it is very convenient since the formulas are already included and it automatically calculates totals: (Click Here for Download)

Once you complete your budget worksheet, the total income minus the total debt and expenses is the result of your monthly finances. Take note of these results and conclusions; write down how you can modify the budget to maximize your resources month by month. If your expenses exceed your income, adjust the expense items and identify everything that is not essential. For the next month, just reduce or exclude those expenses.

Little by little, the discipline of managing your budget well will be rewarded with the ability to reach your financial goals. For more information, go to www.popular.com/en/finanzas-en-tus-manos/.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
×