Don’t Judge It! Put It In Your Budget

Honest Budget

One of the most important tools in understanding and addressing your financial fears is a budget. Honestly! An honest budget gives you a clearer picture of  your income, expenses and also lets you know how much money you have left over.

When creating a budget, it is important to round down on the income & round up on the expenses. So if my paycheck is $2,320, I’m  going to put in $2,300. If my insurance bill is $242, I’m going to put in $250. This helps cushion any miscalculations and unexpected expenses to my bottom line. A budget is only helpful if you include everything. So if you like to buy lottery tickets, go on shopping sprees regularly, or buy alcohol, you have to factor it in. That’s why we included a secret idulgences category.

Change your mindset if you think budgeting is restrictive and boring. Remind yourself that this is giving to your future self so that you can have a healthier relationship with money. This is your blueprint for your income and spending, and you don’t have to share this with anyone else other than your partner, assuming you share your finances.

Honest Budget Calculator

Step 1: Input all your income from all sources.

Step 2: Input all your expenses. Include everything.

Step 3: Input the total of Money Coming IN and the the total of Money Going OUT  to see how much Money is Left Over

Step 4: Now that you have a total summary of your finances for the month, how do you feel? Is it what you expected or were you way off? Take a moment to process your results. This is only a snapshot of your finances for the month. Next month can be different. Become intentional with your spending as you strive toward your goals.