Budgeting Calculator
Last updated July 29, 2024
Mountain America Credit Union's Budgeting Calculator is a valuable tool to help you track your income and expenses, create a personalized budget, and gain control over your finances.
Using the Budgeting Calculator
Here's how to use our Budgeting Calculator effectively:
1. **Access the Calculator:** Visit the Mountain America Credit Union website and navigate to the "Financial Tools" or "Calculators" section. Locate the Budgeting Calculator.
2. **Enter Your Income:** Input your monthly income from all sources, including your salary, wages, and any other regular income.
3. **Input Your Expenses:** Categorize your expenses, such as housing, transportation, groceries, utilities, entertainment, and debt payments.
4. **Track Your Spending:** Review your spending habits and track your expenses over time.
5. **Create a Budget:** Based on your income and expenses, create a budget that allocates your income to essential expenses and allows for savings.
6. **Monitor and Adjust:** Regularly monitor your spending and make necessary adjustments to your budget to stay on track with your financial goals.
Benefits of Budgeting
Creating and using a budget offers many benefits:
- Financial Control: Gain control over your finances and prevent overspending.
- Goal Setting: Set realistic financial goals, such as saving for retirement, a down payment on a home, or paying off debt.
- Reduce Debt: Prioritize paying off debt and manage debt effectively.
- Increase Savings: Identify opportunities to save money and reach your financial goals.
- Financial Security: Build a strong financial foundation and reduce financial stress.
Contact Us
For questions about using the Budgeting Calculator or for any other financial advice, please contact Mountain America Credit Union at 1-800-724-6228 or visit our website for additional resources.