Four Tips For Budgeting In The Modern World

When it comes to budgeting, some advice is timeless – don’t spend more than you make, keep track of what you spend and save first are three rules that will always hold true. However, according to Stefanie O’Connell Rodriguez, a financial expert and influencer, the world has changed, and financial advice needs to evolve as we evolve. She believes some of the traditional budgeting tips and advice is too rigid, and should be updated for today’s world:

Don’t be scared of change. Often people don’t want to sit down with their finances or create a budget because they’re scared of what they will discover. More so, they fear that when confronted with their financial reality, they’ll be forced to change. ‘Taking stock of where your money is going can be a very empowering process. Knowledge is power.’ O’Connell Rodriguez says. ‘Even just knowing you’re in a bad place is better, because you can then set up a path forward’.