#budget tutorial

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SAMPLING 101 | How To Make Great Tracks For Less Money!

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How to budget

So making budgets suck and are hard. So like there’s three techniques to make a budget!

Use online banking to track spending/create a budget My bank (wells fargo) has a “my money map” option and you can see how much you spend on what and then set a budget around that and adjust each month as needed.

Kanahei Account Book It’s an app (super cute) that you can put in what you spend and it shows you how much money you have left for the month. It resets every month at zero so what ever you had left over from the month before can go to savings. (unless you need it of course) but you can always set what day the month starts on for you (for example if there is a specific day you get paid on).

Making a budget on pen and paper. first you record all your spending for a month then see how much you spend on certain things and what you should be spending and then base it on that. This method applies to the two above but everyone can do it so I’ll go into detail with this as an example!

So with a budget the hardest part is actually keeping track of your spending (I use the kanahei account book cause I can enter it right then and there).

So far this month I have spent

85.34 on food

60 on travel

56.62 for medical bills

1.01 on fashion (i bought bobby pins shut up)

6 on other things (i bought plant pots)

20 on social activities

and I put 200 into my savings

-So I already know that I spent waaayy too much on food. I had been buying all this food for lunch when I was at work when I could have been bringing food from home (that my parents payed for) or I was buying fast food. -The travel won’t exists anymore because that was money I owed my sister for a hotel a few months ago. -My mom is paying my medical stuff on time now so I don’t have to worry about it. -20 was actually pretty good for social stuff -and I need to put more in my savings.

So in a spread sheet (you can make a simple one on a piece of paper) put in your income (or estimated income) for the next month.

Put in fixed necessary expenses (rent, insurance, loan payments)

then put in estimate (high) of flexible necessary expenses (utilities, gas, groceries, prescriptions, internet,phone (yes this is necessary))

then put in how much you want to save. Usually people tell you to pay yourself first but I think this is stupid. There is no way for you to know how much you need each month and in theory what you put in savings is not to be touched. 

after that any money left over you can divide up between entertainment, clothing, spa stuff, etc.

So my next paycheck is going to be about 465 dollars

So for me I really don’t have any fixed expenses so I put - $0  I also don’t have any necessary expenses right now so I’ll put another - $0 After that is savings. I’m going to put - $400 So I would have $65 for shenanigans.

Now all I have to do is follow that budget (so pretty much don’t spend any money.)

I wish you luck!

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<a href="https://sirensbythesea.wordpress.com/2015/03/04/rwby-inspired-eyeliner-budget-post/">Tutorial Here!</a>

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