6 Things to Do Before you Budget

6 Things to Do Before you Budget

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Some people think creating a budget is difficult... and it CAN be! BUT, if you do these 6 things before you budget, it will be a whole lot easier!
Photo Credit: Wojciech Sadlej

Some people think creating a budget is difficult… and it CAN be!  BUT, if you do these 6 things before you budget, it will be a whole lot easier!

Here is a list of steps you should take BEFORE creating your budget

you know…

to make your life easier!

  1.  Create a list of all your expense categories… Food, gas, rent, phone, utilities, entertainment, ect
  2. Check receipts or credit card statements to get an estimate of how much you spend in each category.  This can be frustrating to do before you budget, but it will make a BIG difference as you start calculating numbers for what you should spend.
  3.  Know your average bring home income… For those of you who are unfamiliar… it’s what is given in the “check” portion… AFTER taxes, insurance, retirement, ect. is taken out.  What is ACTUALLY being deposited into YOUR account?
  4. Make a Calculator handy in your usual work area.  Grab a pen and paper too!
  5. Figure out the way you will keep TRACK of your budget.  A paper, binder, spreadsheet, notebook, app, ect… some people use a few different systems.  I personally use a binder with 3-5 basic Budgeting worksheets AND an internet website called MoneyTrackin which is a FREE way I enter in ALL my spending and savings!
  6. Get your significant other on board!  This is the MOST IMPORTANT STEP!  Make sure they are ON BOARD and helping you out!  Or AT LEAST they have a say and knows what is happening.

If you one a few more things to do before you budget to make sure you are ready, ask yourself these 4 questions.  Now you can be your way to creating your budget!  Make sure you know how you will manage your budget as well to keep you on track.  Finances can be tricky, so it’s important to keep working on it even if you get discouraged.  It is amazing having a peace of mind knowing that fiances are under control… under MY control.

As always, if you love what you read or have found it helpful, please share or comment below.

Thanks for reading!

This post may contain affiliate links.  Read my affiliate link disclosure here

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