#Personal budget sample blog how to
#Personal budget sample blog free

You may be self-employed, have multiple jobs or receive child support or government benefits - all of these sources should factor into what you have available to make ends meet.

Step 1: Where does my money come from? The first place to start is getting a complete picture of where your money comes from.

Getting started can be the hardest part, especially if your finances feel out of control, but these easy-to-follow steps are designed to help you create a budget that really works for you. Until you get a realistic picture of how much money you’re bringing in and where it’s going, it’s difficult to know whether you’ll have enough left over to put away. Let’s say you want to set money aside for emergencies or you aspire to save up for a much larger goal like a car, down payment on a house, or retirement.

#Personal budget sample blog free

You can sign up for a free account today.Making and sticking to a budget is a key step towards getting a handle on your debt and working towards a savings goal, of any kind. has budget solutions that are simple, intuitive, and help you get on track. Incomes change, as do goals, so your budget also needs flexibility. Once she made that connection, her financial struggles eased tremendously.īudgets don’t have to be perfect, and there’s always room for improvement. As in Dawn’s case, she realized she had to plan for them - she needed savings. Some unexpected things can be reasonably predicted. Sure, I had listed out my income and expenses like everyone else does, but I hadn’t taken into account things like saving for those not-so-unexpected expenses.” Dawn says, “At some point, it occurred to me that I wasn’t really using my budget in the right way. Unexpected expenses aren’t always unexpected. The numbers seemed to add up, but her savings account dwindled while her debts steadily grew. If it’s not realistic, or if you have other problems, it’s just another spreadsheet or piece of paper.ĭawn, from Kansas, tells Personal Budgeting that while she created a budget - and another, and another - there was always something missing. Imperfect Examples are Opportunities to LearnĪ budget is only as valuable as what you do with it. Otherwise, I’d just end up paying unforeseen expenses on a credit card, continuing the vicious cycle of debt.” I hold onto the other half until the next pay period, and then I’ll put whatever I haven’t spent toward the credit cards. “My goal each month is to put $800 toward that debt, but I only pay off $400 of it when I get my paycheck, in case something comes up and I need that money. But for his credit cards, he has a different method. His first priority is his “must pay” bills, such as rent, phone, utilities, etc. Learnvest explains that Isaac’s pay comes in once a month, so spending habits require discipline. With his budget, he manages to pay something toward all of his debt, add to savings, and keep a bit for the occasional cocktail brunch. Isaac, a 24-year-old IT consultant in DC, lives comfortably on a moderate salary of $60,000 annually.

“If you’re patient, you’ll find it.”īy shopping online through venues such as eBay and Craigslist, the Economides find bargains instead of paying retail.Ī Young, Single Guy’s Strategy to Pay Off Debt Shop more frugally: “We realized that if you want something and you don’t have the money for it, there’s always someone who’s getting rid of that thing you want,” Annette says, emphasizing she never buys an item online at retail price. Shop less often: “People think, ‘If I don’t go to the store every week, I’ll miss all the sales.’ The truth is you’ll miss some, but you don’t want to put yourself in the position very often where you’re tempted to buy food you don’t need.” When she does catch sales, she stocks up.

News and World Report, the Economides explain that the only credit they’ve relied on was their mortgage - and they paid it off in nine years.Īnnette offers a couple of her frugal living techniques: Steve and Annette Economides have lived without credit since 1982, and they believe their methods could work for anyone. But if you save, the money will be there when you need it. Credit takes the place of money in the hand you can buy what you can’t afford at the moment. Here are three examples of individuals and couples who have created workable budgets and found some financial freedom.Ĭredit might be a normal part of life, but spending more than you earn contributes to financial troubles.

#Personal budget sample blog how to

Most financial advisors can give guidance about how to create a budget and stay on track, but at the end of the day, creating a budget is up to you. Then it’s a matter of sticking to it and making headway. Your income, expenses and goals help determine what’s right. The key isn’t finding the best budget, but the best one for you. Your budget might not look like anyone else’s, and that’s OK.