Hi and good morning?🌅
Birds are singing, sun is shining and we are talking MONEY!💲
Have you checked your account today? Do you keep your receipts? Do you track your money to see where it is going?
I ask so many questions because money seems to be a fast moving thing (2020 or not). It seems I am spending money everywhere that I go these days. ⏸
Let me start with a little bit about myself and how I think I can help you get out of debt! Years ago my hubby and myself were in debt! Lots of debt, living paycheck to paycheck, with two kids at the time and we were just getting deeper and deeper into debt! That was that I had enough and I didn’t want to be in so much debt, not making it foward in any acounts!
We changed it, we had to change the way we lived, I got my big girl gichies on and set a budget! 👩💻
Oil patch had crashed, I am a stay at home mom, life got tight, the budget got tight! ⛈
GUESS WHAT HAPPENED!
We did it, roughly 4 years down the line we were out of a TON of debt.
Why am I saying this why am I back doing this?
Fast foward life a little and here we are now with 4 kids, new dreams, new goals and new DEBT. 🌠
Not debt like before goals and dreams building debt. It is one of the easiest habbits to fall out of, I think.
So back to it I go!
NOW LETS TALK BUDGETING!
1) TAKE YOUR MOST RECENT BANK STATEMENTS! 💳
2)GET HIGHLIGHTERS 🖋
3)HIGHLIHT YOUR INCOME, AND THE AUTOMATIC PAYMENTS (MORGAGE, INSURANCE ECT) 📅
Using hightlighters will allow it to be fast and easy when seeing what is coming in and out for what reason. Simply make a color code on the top of the bank statement, or in your budgeting book or paper! (Having this on hand when doing the outline will help.) 📆
Now this is where you figure out your starting budget…. Take your income and subract your no wiggle room payments.
Where are you starting in the green or red. 💲
When you have the “fixed payments” written down,now you need to go though your monthly bills. 📚
These are a little more flexable month to month.
I say this as you can put more or less on each month…. I am working on credits on ALMSOT all my house bills. (I do this for seasons that are tighter… HOLIDAY months) The house bills that I refure to is bills like the gas, power,water etc. ☃️
NOW WHERE ARE YOU!
If the money is still not easily accounted for this is where reciepts come in! For a minimum of one week keep your receipts, this will allow you to filter threw them and track a little more of the money. 🔎
This will let you see how much money is going into “other catagories.” 📑
-“PLAY” MONEY (CAUSE I DON’T KNOW WHAT YOU DO HAHA)
Now take your trusty highlighter and color code your catagories agian… 🖊
but in brokedown ones….
like the examples above.
Where there is money going have it tracked into a sort of catagoy for you to filter through and cut down…. we will get to this step shortly!
This is a more consuming part but it will have the most impact I promise. 🗂
Now that you have all of your money sorted, NOW WHERE ARE YOU?
GREEN OR RED! 💲
You may need to make cuts, you might need to live a bit moe frugal for a while! However it will be WORTH IT in the end, your MONEY will be WORTH it! ✂️
Now that you have your outline done, money coming in and out it’s time!
If you are in the RED you need to know how much extra you need to make, or how much you will need to cut back to make everything balance out!
How fast do you realistically want to be out of debt or be caught up on bills, or BOTH!
How much money goes into each space? 📧
How much do you want to cut out? ✂️
How much do you NEED to cut out? 💵
The kicker is know one wants to cut back, know one wants to not be able to spend money!
The more you work at it the quicker it will be paid off! I am not saying you will fly out of debt, I am not saying it won’t take time and hard work! I am saying that it is possible.
You will have to make cuts, to make it easier to put money in for bills and debt. Look where you can stretch your money! 📈
So, where can it be cut:
It will get harder before it easier, it will be hard but its not forever!
If it was easy everyone would be saving money no problem!
What do you stuggle most about saving money? Comment below I guarentee you are not alone!
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WATCH OUT FOR THE NEXT BLOG! IT’S A FUN ONE ABOUT USING A BUDGETING ENVELOPE AND SOME OF MY TOP MONEY SAVING TIPS!
Till next time have a great day, and a wonderful money saving weekend!
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