Sandra Gilpatrick, CFP ®,CDFA™

Quarantine activity: two budget versions

Want to make the most of extra time at home? Check out my video https://www.youtube.com/watch?v=nQ-i35cEONI . Try making two versions of your budget. The first is a "lean and mean" version with only your essentials like housing and groceries. Next re-evaluate your discretionary spending on a second version. Now that you haven't been able to spend money on certain items, do you really miss them? It's a perfect time to see what truly gives you joy and what should appear in your spending habits going forward. Also, it's a great time to think about adding to your cash reserve if you're worried job security may be an issue.