6 Tips to Budgeting

Last year I posted this interesting post on budgeting. I really enjoyed the video, so make sure to watch it when you get a chance.

Thanks!

KMP

1. Go through previous month transactions and figure out where most of your money is going.

2. Create a budget template that works for you.

3. Set priorities. Write down your goals down and commit to them.

4. Look at your net income each month and balance it against your priorities. Set a maximum amount on what to spend each month.

5. Track your expenses over the month. If you pay for something in cash keep the receipt. You should update your budget template each week and adjust accordingly.

6. Re-evaluate at the end of the month. What works? What doesn’t? You may need to make some lifestyle changes in order to meet your goals.

Need a little more motivation?!
Watch this instructional video:

Your Thrift Habits (1948) – Budgeting video
(email subscribers click here to view the video)

*For more information visit: W Network

*Money Mondays*

Related Posts on Budgeting:

10 Money Tips For Women

Cleaning on a Budget

Budgeting

3 thoughts on “6 Tips to Budgeting

  1. KMP Blog (Keep Me Po

    Great point Wynsters, I also say I would start budgetting, I start, but then somewhere I lose interest. But Post like these make get back on track. That's why I like to revive them as much as possible.Watchen, I never tried the accountability partner, but it sounds like it could be very helpful. Thank you for bringing this up.

  2. But Now What

    Love this. I am actually in the process of taking my finanaces a lot more seriously and this is all very helpful. One thing I would add is get an accountability partner. It helps if you have someone who is with you in the strugglewatchenbutnowwhat.com

  3. wynsters the tigress

    very informative. seems like common sense to save and live within your means (as the video kindly reminds us) but so many ppl (including myself) often lose sight of that!