Budgeting 101: Day 4

Day 4:

Budgeting is nothing if you simply make a budget but aren’t willing to stick to it.  You have to follow through.  Many of direct sales girls know all about implementing and that you can buy all the trainings in the world but if you don’t follow through and implement what you’ve learned in those trainings then there is little to NO point. 

So what are the steps?  

First thing is you MUST make the commitment to follow through.  Because budgeting can be difficult.  Figuring out your goals, priorities and what you want to accomplish financially is KEY to making a budget.  

Next you must figure out what your expenses are and what your income is.  Last night we talked about writing down EVERYTHING you spend your money on.  By everything I mean EVERYTHING.  Write down if you put it on plastic, use a check or cash… You have to do it.  You have to look back at this written record and figure out what you are spending your money on.  This written record will allow you to see where you can cut back, where you need to cut back and gives you a great place to begin.  

Once you have done these things you need to get on the same page as your spouse if you have one.  If you don’t have one you need to get an accountability partner.  Someone who will help you to see your overspending (if you are doing that), someone who can help you set goals and someone who will cheer you on and encourage you!  Find someone that you know won’t judge you and someone who will be “in your corner” and help you to be your best self.  

Next, come up with a written plan.  A budget.  Use a spreadsheet.  Use paper and pen.  Use a written outline.  Use an online calculator.  Use a worksheet, online or printed out.  Find something that works for you.  Write it out.  

Make sure you have your four necessary expenses written down: Shelter, Utilities, Transportation and clothes.  Once those are covered then write down all other expenses for the month.  One of the things that really helped me when I was single was to write down my balances of all my debts and expenses.  When I was working to pay off my debt I would work out in my budget how much I wanted to pay toward each debt each month or each pay period.  As I got older and once I was married my husband and I had things we would pay with our first pay check and things we would pay with our next.  Obviously we have a lot more expenses these days than we did in the past, with 3 kids and a mortgage.  

So once you have a written plan and you’ve figured out what you want and you’re on the same page as your spouse or have that accountability partner to keep you on track - you have one more step.  

That step is to stick to your budget.  To do it.  To work on the plan so that you’re able to meet your goals.  You have to do it!  You have to be willing to put in the work.  If you don’t do it you’ll always be stuck.  Living paycheck to paycheck.  You have to work the plan.  You have to do it!  You can do it!  And that’s the truth - you can!  

I will post a few links over at creditsavvydiva.com so you can find resources to help you in this process.  If you have any questions please feel free to contact me or put them in the comments.  I am always available to help or to help you find the resources you need.