Budgeting

Budgeting
Save Your Receipts and Statements

  • Step 1: Starting today, save every single bill statement, receipt, or check that crosses your desk for at least one month, preferably three months.
  • Keep a “spending notebook” in your pocket.

Sort Your Receipts and Statements

  • Step 2: Take all of the receipts/statements/notes/etc. you saved up and start making piles on the floor in a way that makes sense to you.

Tally Them Up

  • Step 3: Add up the totals on all of the receipts and statements in each pile, then divide these totals by the number of months you’ve been saving data.

receipts cartoon

Find the Fat

  • Step 4: Go through each category and find ways you could reduce your spending in each one.

Try It Out

  • Step 5: Work hard to stay within your target numbers in each category for the next month.

Rinse and Repeat

  • Step 6: At the end of the each month, refresh your budget.

*For more information on Budgeting, visit: Budgeting 101
*Money Mondays*

Who is rich? He that is content. Who is that? Nobody” – Benjamin Franklin

Article by Arie Rich

Arie has written 1152 articles.
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