Budgeting is a good habit to develop to keep yourself financially ready. It lets you see where and how you're spending and saving and can help you to prepare for unexpected situations. Keeping an up-to-date budget can help you prioritize expenses and identify ways to reduce your spending – which can be especially helpful to know if your circumstances suddenly change. Although you may find your fixed expenses remain fairly constant, you should review other expenses to see if you can make changes or any reductions. Revisiting your budget often can also help you identify if you have more opportunities to save and/or to redirect your spending.

Paying attention to how you're spending can be just as helpful as following a budget. Using an online app like TD MySpend which tracks spending made through TD deposit and credit card accounts can help you see where you're spending on "needs", like groceries and home expenses, and "wants", like entertainment and special treats. While your spending may change based on seasonality and circumstances outside of your control, it can be helpful to use a tracking tool like TD MySpend to see exactly where your money is going so you can confirm that you're spending on the things that matter most to you.