Money May has come to an end and I have enjoyed sharing my financial journey and tips I used to finally get it together. It’s been a long road starting with credit cards when I was too young and broke for credit cards then later taking bad advice about how to handle those credit cards. A lot of my missteps happened around not really knowing what I had versus what I was spending. Getting a budget that I check in on often made all the difference and oddly felt like I gave myself a raise. I was no longer wondering if I should be buying this or that. I got crystal clear on what I should be spending on what, making spending money less of a guessing game. I like excel so I created a few resources that have helped along the way.
A Monthly Budget. I created this budget to help me just get a high-level view of what I was taking home every month and what my obligations were. This was a set it and forget it sheet – it should not change unless you make more or need to spend more each month.
Bi-weekly budget. This is like the bi-weekly but I am actually breaking down the discretionary spending into fun, gas, groceries etc. This budget should be changing week to week as you look at what your obligations are at the time. In addition to this, I encourage you to track your spending within the buckets (IE Fun, Groceries etc) so you can see your habits and make adjustments.
I can hear you… you are saying “It’s too much”. It is. This level of budgeting was not created all at once. It was not created in the same year even. I did one, needed more… did another… etc. So pick a level and play with it. You can always come back for more. Let me know what worked for you in the comments below.