NEWPORT NEWS, Va. (WAVY) — April is financial literacy month, and one of the many key steps towards financial freedom is budgeting.

Just like a doctor helps the sick; a financial educator helps people take control over their spending and financial future. Belinda Aboagye with Bayport Credit Union is a financial educator and teaches people how to budget. Aboagye says many people are drowning in debt, living check to check.

“Not having a budget means you have no control over your money,” Aboagye said. “Which means you are never going to achieve the dreams for yourself or financial goals you have set for yourself. That means especially you are going to be stressed.” 

Aboagye recommends gathering a list of all your income. Next, she recommends listing out your fixed expenses and varied expenses. Then, experts say to figure out what can be cut like subscriptions or eating out.

“We all have dreams and goals we want to achieve,” said Aboagye. “Believe it or not. All of these things have a dollar amount attached to it. So if you think about it we should be planning for them. This is what a budget will help you achieve.”

Whether it’s a virtual app, paper and pen, or a Bayport Credit Union virtual class, the time to start budgeting is now