#PERSONAL BUDGET METHODS HOW TO#

Extras (entertainment, restaurants, etc.)ģ.Other essentials (insurance, debt, childcare, etc.).Four Walls (food, utilities, shelter/housing and transportation).Time to plan for everything you’re paying for this month. List the lowest amount as this month’s planned income. Got an irregular income? Just look back at what you’ve made the last few months. This is how much money you have to work with this month!

(Don’t forget any extras like that side hustle!) Add that all up. List out each paycheck coming this month. So, it actually gives you permission to spend!Īnd here’s how you go about setting up a budget: It’s a guide you set up to make sure your money does what you tell it to do. Has anyone ever told you a budget is too limiting? The truth is, a budget doesn’t control you-you control it. What’s a budget? It’s your monthly money plan where you’ll give every dollar that comes in during the month a job to do, whether that’s spending, saving or giving.Īnd listen, budgets get a bad rap. You won’t be able to track expenses without one. And your teeth and budget will thank you. And just like other important habits-you know, like flossing-it takes some work and repetition to go from trying to remember to do it to doing it naturally. Tracking your expenses (aka tracking your transactions) isn’t hard-it’s a habit.

#PERSONAL BUDGET METHODS HOW TO#

So, let’s talk about how to track your expenses in four steps-plus why it’s so important anyway. This is the secret to taking your budget from good intentions to awesome outcomes. And the way you do that is by tracking your expenses. The way you do that is by making a budget and sticking to it. If you want to win with money, you’ve got to change your actions with money.

Personal budget methods