Have you found yourself in new financial territory? This might well cause lots of stress and sleepless nights. If you’ve never been concerned with budgeting in the past, now is certainly the time to learn. Follow these recommendations from the financial experts to ensure your financial security today and financial future for tomorrow.

It is so important to set a basic budget. The only way to accurately complete this task is to fully understand all of your expenses.  If you’re now on a fixed income of a combination of alimony and salary, make note of what your net, take home pay is. Budgeting does not have to be a complex process. Add up your expenses, subtract them from your income and the remainder is discretionary spending. Make sure to include savings, not matter how small, in our fixed expenses.

Looking for ways to cut corners financially? One way to do that is to eliminate waste. Do you find yourself purchasing too much food and discarding a portion of it at the end of the week? Consider taking advantage of the awesome deals offered by Groupon coupons and enrolling in a meal delivery program such as Hello Fresh. Meals will be perfectly portioned and there will be no waste.  Eliminate designer coffees and expensive daily lunches with coworkers and consider taking your lunch at least four days a week.

Finally, take care of what you have. Maintenance is generally cheaper than replacement. Have your car serviced on a regular basis including tire rotation. Have your heating and air conditioning systems serviced on a regular basis as well.  Maintain your health. Full body wellness means being mindful of your food choices, exercise and investment in relationships. Healthcare expenses can be daunting. Many diseases and ailments can be thwarted with a consistent wellness plan.

Being on your own financially can be a daunting experience. Take the advice of your financial advisor and realize that the most important things in life can’t be purchased. Best of luck to you!

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