How to Build and Track Your Personal Budget
Budgeting: we all know it’s important but most of us dread having to do it. Let’s face it, spending money is much easier without having to think about where it’s going or having to acknowledge that we spend that much on happy hours with the girls.
At the same time, spending money without direction can leave us feeling a bit anxious. Have you ever found yourself wondering if you’ll be able to pay the next credit card bill or nervous that the last check you wrote is going to bounce?
Not knowing where out money is going can leave us feeling out of control. When approached with the right attitude, keeping track of your budget can actually be a liberating exercise. When you know you’ve got your expenses covered and have dedicated specific amounts of money to clothes, dinners out, etc., you lose the guilt of spending the money. You’ll even find that your money starts to stretch further because you’re in control of where it’s going.
When I graduated from college my parents gifted me with a financial planning course—a set of books on tape and a workbook to teach me how to spend my new paycheck wisely. Though not as glamorous as a new car or exotic trip, it was one of the best gifts I received. Taking the self-guided course taught me the fundamentals of creating and tracking a budget. Using the basic principles the course taught, I established a system that worked best for me.
Being able to manage your personal budget is a skill I strongly believe every Single Girl should be equipped with. For that reason, I’m sharing with you my personal budgeting process and budgeting template. If you haven’t already found a system that works for you, give this a try!