Easy Steps to Simple Budgeting
Hi everyone! Today I want to walk you through some simple budgeting steps. If you sign up for my emails you can download my eGuide which has more in depth instructions. Every day I run across people who were never given any instructions or guidance in regards to budgeting, and it just breaks my heart. I see so many of you who make good money but have terrible credit because you are just winging it.
- The first thing you want to do is to get yourself a calendar. My preference is for one that is a physical piece of paper that has enough space under each date to write.
- Next, you need to put your paydays on the calendar.
- Then, you will need to gather your bills and place those on your calendar as well.
- Now, you need to add up all the bills that come between your paydays. Are they more than what one paycheck will cover? If so you will need to set aside some money from the paycheck before to cover them.
- The absolute most important thing to remember when doing this is to NOT go on a spending spree as soon as your paycheck is deposited! That means don’t stop a few places on the way home to pick a few things up unless you know how much you have to work with.
- As soon as your deposit hits or you deposit your check, write it down in your check register or whatever way you’re keeping track of your money. Then subtract all the bills that you are paying with that check as well as however much you need to set aside for the next pay period’s bills as necessary.
- What you have left over is what you have to buy groceries, gas and everything else.
I know that this may sound over simplistic but this is a concrete and actionable way to get your money under control. Later on I will be writing more in depth about budgeting but this will be a great jumping off point.
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Let me know how this works for you and be sure to subscribe to my email list for more budgeting advice to come.
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