iptaya.blogg.se - Best app to track monthly expenses

When you buy tickets to see your fave boy band’s reunion tour, subtract that expense from entertainment. When you pay the rent, subtract that expense from your housing line. When you fill up the gas tank, subtract that expense from your transportation budget line. For two, it’s another way to get you in your budget (which is always a solid win). You can add money to your current budget lines or cover some extras in the budget.Įven with a regular income, track it! For one, you can make sure nothing’s off with your paycheck. So, if your income turns out to be more than you planned, now’s the time to adjust. Remember, you planned low when you listed your income. This step is super important if you have an irregular income. If you make money through a side hustle or sell something, log that in too! When your regular paycheck comes in, put it in the income part of your budget. That’s where the tracking comes in! Step Two: If You Make Money, Track It Now that you’ve set up your budget, you’ve got to keep up with it. This is called zero-based budgeting, and, as we said before, it’s all about giving every single dollar you make a job to do. If you’ve got a negative number, lower your planned totals or cut extras until you get zero. If you’ve got money left over, that’s awesome! Put it toward your current Baby Step (the proven, guided path to saving, paying off debt, and building wealth).

Extras (entertainment, restaurants, etc.)ģ.

Other essentials (insurance, debt, childcare, etc.).

Four Walls (food, utilities, shelter/housing and transportation).

Time to plan for everything you’re paying for this month. List the lowest amount as this month’s planned income. Got an irregular income? Just look back at what you’ve made the last few months. This is how much money you have to work with this month! (Don’t forget any extras like that side hustle!) Add that all up. List out each paycheck coming this month. So, it actually gives you permission to spend!Īnd here’s how you go about setting up a budget:

It’s a guide you set up to make sure your money does what you tell it to do. Has anyone ever told you a budget is too limiting? The truth is, a budget doesn’t control you-you control it.