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Managing Finances

Life Choices Make a Difference to Your Budget

By Lance Hill

Making smart choices with your money isn’t always easy. However, the earlier you learn how to live without feeling like your scrimping by, the better.

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Making smart choices with your money isn’t always easy. However, the earlier you learn how to live without feeling like your scrimping by, the better.

Money, and having enough of it, is a factor that influences many life decisions. It can mean the difference between buying a different car, taking a fun trip or going to college another year. These are a few categories to get you started:

  1. Rent: Will you choose to have a roommate to split expenses? Do you live in the expensive apartment or one that is less expensive? You may also consider which community you want to live in. The large metropolitan is typically more expensive than a smaller community.
  2. Food: Do you plan to cook at home or eat out? Eating out costs can take quite the bite out of your budget!
  3. Transportation: It takes four wheels to get there, but you have a HUGE price range to choose from whether you select a new or used car or pickup, expected mileage, how many miles on the vehicle, the maintenance history and more, so educate yourself before signing on to more than you can afford.

Lance Hill

Lance Hill is the Financial Literacy Manager at Bank of North Dakota (BND). The financial literacy program at BND is designed to help educate North Dakotans about relevant topics of financial education. The program utilizes a partnership approach with other like-minded individuals and organizations to help create long-term improvements and financial well-being in people’s lives. Lance is active in several state and national financial literacy organizations. He is a Certified Educator in Personal Finance (CEPF). He enjoys hiking, mountain biking and reading.

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