A few basics on budgeting

If you have a significant other, budget together! You have to be on the same page for this to work.  I loved Dave Ramsey’s advice on this:  if one of you is the “nerd” and loves spreadsheets and budgets, make your budget and slide it across the table to your “free spirit.”  Then…SHUT UP.   Let them have some time to look it over and make adjustments. If you don’t have a significant other, it can help to have a trusted friend hold you accountable.  

If you’ve never made a budget before, here are some simple steps to get you started.

1. Start by examining last month’s expenses or track this month’s. 
2. Now get a piece of paper, spreadsheet, Mint, YNAB,  EveryDollar, or whatever…and write down your monthly take home pay.
3. List your expenses.  In addition to the usual stuff (mortgage/rent/electricity) think about upcoming bills (quarterly bills and etc).  Then tally up your more flexible expenses (food, gas, Netflix).  Subtract your expenses from your income.  Give every dollar a job! Remember your saving goals, debt goals, and etc.   If you're budget spends more than your income, it's time to reevaluate and make some cuts.  
4. Track your expenses to see how you are doing.  Re-evaluate as necessary.  Every month may be different!

Expect mastering a budge to take more than 1 or 2 months!  

If you have trouble “sticking to the budget.”  Cut up the credit cards and go cash only.  It’s hard to overspend when you only have cash on hand! 

Tips from my own budgeting:

• I like to write it down every month, then go over it with my husband.  I'm the nerd about budgeting!  I've tried spreadsheets, mint, and YNAB...but for whatever reason, I still like writing out my budget.
• We cut cable television, and I don't miss it. 
• We try to plan our meals and avoid fast food.  I like to cook as little as possible (as you might imagine from the title of this blog), so I cook a large quantity and freeze the excess
• Planning meals then utilizing curbside pick up keeps me out of the stores and helps prevent impulse shopping!
• Do you have a nervous shopping habit?  In the midst of stress and anxiety, I often found myself in Michael's...So addressing my feelings through therapy, exercise, walking in nature, playing, or whatever helps keep my stress spending down.  It may be worthwhile to examine your own emotions and identify what drives some of your spending habits.

What budgeting tips or software do you find useful? I'm always looking for more tips and tricks for my own life and for my students' lives.
 

Peace and love, y'all