Before you create your next budget or monthly spending plan – 1. Track your spending for one month. Use a spreadsheet, pen and paper, or online software, and track your spending for one month. Track all payments – including those made by check, debit card, cash, (and credit card, if you choose to use one). Remember to also include any…
Category: Money Management
From Overwhelmed To In Control
When it comes to managing our personal finances, it’s very easy to feel overwhelmed. Here are some steps we’ve taken, over the past four years, so that we feel in control. We have – Established An Emergency Fund I cannot overstate the value of our emergency fund. On several occasions, we have had to deal with unplanned-for expenses. Instead of…
Diagramming The Flow Of Money
For the visual-learners in the audience, I have diagrammed the flow of my money. Regular income is deposited into my primary checking account. Scheduled monthly payments are made, and allocations for non-monthly scheduled payments are then deposited in my online savings account. Irregular income, such as it is, is deposited into my primary checking account, and used, if needed, for…