This article is the introduction to a financial planning series called How to Make a Budget – Easy Steps for Beginners
I’m dropping the B-word today. BUDGET! There, I said it. It’s funny how this simple 6 letter word has the power to strike fear into the hearts of some and cause serious indigestion for others. If your heart is fluttering and your stomach just lurched, then you’re not alone.
Despite it’s reputation for being boring, time consuming, and out-right tedious, creating a budget can actually be a liberating experience. Now, I’m not squawking about the kind of liberation where you’re running around naked with millions of dollars flying around you. Dream on.
But keeping on track with a budget can show you where your money goes and help you plan for life’s expenses — whether you’re saving for a home, buying a car, going on vacation, saving for school, getting out of debt, starting an emergency fund, or just finding ways to save money. Whew!
It was, after all, through expense tracking that I managed to pay off my student loan in six months and started investing in a couch potato portfolio. Mind you, by tracking spending I discovered I was spending $75 a month on olives. For real. So a simple budget can help you reach your financial goals sooner — with less stress and worry — while showing you where you’re slipping up.
How to Make a Budget — Easy Steps for Beginners
I want to make budget planning fun. It’s your money, after all. I want the “budget” word to cease being a 6 letter monstrosity by demystifying the process and making it simple to follow.
What is a budget? Simply, a budget is a financial plan for tracking the flow of money into and out of your life. The idea is to find the sneaky money outflows, plug the lucrative leaks, and save more of the inflowing cash for the stuff the really matters in your life. A budget will also expose the spending habits you’re not aware of and help you to better plan where to spend your money. Did I mention my $75 olive habit?
This series can help you to:
- Learn how to start
- Set financial goals, define your needs, know your wants
- Start expense tracking and track household expenses
- Deal on any income
- Make a household spending plan
- Access to free budget templates and spreadsheets
- Find your net worth
- Discover money planning software
- …and have fun with it! 😀
If you have read my previous resume series, then you know I put A LOT of time and effort into making each and every post packed with helpful and very approachable content.
Here’s the entire series.
SERIES: How to Make a Budget:
- Your Net Worth
- Net Worth Spreadsheet
- Financial Goals Worksheets
- Needs and Wants List
- Free Budget Spreadsheet
- Free Budget Software
- Track Extra Income
- Gift Giving Worksheet
- Holiday Expense Tracking
- Windfall Planner
- Debt Reduction
- Student Budget
- Medical Expenses
- Emergency Fund
Have you ever tried a budget? Share your successes and learning experiences.
Love love love, Kerry