Keeping track of finances is critical to staying on budget. I write down each purchase and at the end of every month, I enter all the numbers into an Excel spreadsheet.
Start by keeping separate running lists for the following categories:
My Excel spreadsheet is very simple to use. I plug in the numbers each month and it will automatically tell me if I'm over or under budget.
Remember, the key to staying on track is to document every single purchase otherwise you're fooling the numbers and back to being in the dark about your financials. If you're in a relationship, your significant other must also be on board as you can't do just half a budget. You both need to commit strongly to this life long process.
Below is a snapshot of the spreadsheet I use:
Start by keeping separate running lists for the following categories:
- Misc purchases - items not listed in your monthly fixed budget
- Grocery
- Fuel
My Excel spreadsheet is very simple to use. I plug in the numbers each month and it will automatically tell me if I'm over or under budget.
Remember, the key to staying on track is to document every single purchase otherwise you're fooling the numbers and back to being in the dark about your financials. If you're in a relationship, your significant other must also be on board as you can't do just half a budget. You both need to commit strongly to this life long process.
Below is a snapshot of the spreadsheet I use:
No comments:
Post a Comment