Now, let's get a little more complex to really help you achieve your budgeting goals. This page will let you do just that! Debt & Savings Trackers It's super important to account for charitable giving for tax time. This monthly budget worksheet page will also let you write in those recurring bills to get an overall budget number. In the grocery category on this page, I would recommend a $700 budget to give yourself a little bit of wiggle room. Let's use another example: in the past 6 months, you have spent an average of $656 a month on groceries. Then, I recommend rounding that number up to get our budget for that month. Next up, take that expense tracker you completed earlier and break it down into a budgeting plan! Get a rough number you spend each month on each budget category. Knowing what you will have to pay each month regardless will help you understand how much you absolutely have to set aside each month. Some expenses (like entertainment or food) are variable and can be adjusted if needed some (like a mortgage) are set in stone and can't be changed. These might be monthly bills, quarterly bills, or annual bills. that are generally the same amount and happen on a regular interval. This might be items like a power bill, health insurance, mortgage, rent, internet, trash, phone, etc. Now that you have a rough idea of income and variable expenses, take a look at what recurring bills you have. This is also an area where I recommend recording 4-6 months of expense, then averaging that number. Same concept if it's money going out of your account, record it. You'll also get an expense tracker in your budget binder. I recommend going back 4-6 months and averaging your income. You might have income from.īasically, if it's money coming into your checking account or onto your credit card, record it! It's really helpful to have a bank statement or credit card statement handy when doing this. Once your money goals are in place, it's time to start tracking.įind all sources of income and jot them down on this income tracker. These three elements (big goal, action steps, timeframe) all work in sync to help you achieve your goals efficiently! A final one might be to research mutual funds and set your investment account to buy each month. Another is to put your checking account on an autopay of $200 per month into that investment account. One action step might be to open an investment account. By writing in a timeframe (let's say 2 years), you now know how much you need to save each month (roughly $200) to achieve that goal.īut that's not the only element you need to figure out action steps too. Let's use an example: you have a big goal to invest $5000 in mutual funds. Once I heard a quote: "A goal without a deadline is just a dream." It's so important that you figure out how much time you have to complete your financial goals. The goal is the umbrella the steps are the building blocks that work together to reach that goal. My goal-setting process is simple: think about something big you want to accomplish, break it down into smaller steps, and set a timeframe to complete those steps. By actually speaking that goal into existence, you'll be so much more focused on the steps to achieve that goal. Without a financial goal, you're really just treading water. Goal setting is without a doubt my #1 way to maximize productivity. Let's kick off the budget binder in style! In this set, you'll get 2 bright, pretty cover pages to choose from. In this collection, you're going to get 12 coordinated pages that will help you stay accountable for spending, saving, and giving.
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