Auto-pay is my favorite!! I don't have to remember anything!! (I am 66 and my memory isn't so good) I have a spreadsheet with the amounts that are due. I have one that changes monthly and I keep the receipts so I can keep track of that amount on the spreadsheet. And then every few days I pull up the spreadsheet as well as my bank account and mark the payments that have cleared my account!! It also keeps track of my checking account balance. I start every month with a $0 balance. Anything left over goes to savings.
My favorite budgeting method is setting up my monthly first on a calendar and then paycheck to paycheck so I can budget my actual cash in the bank. Great video!
I do a hybrid of budgeting. Have a monthly calendar to see the big picture. Dates with Green numbers is income. Any other color - usually blue - are bills. Using a calendar helps me SEE when bills are due :-). I often pencil in my checking balance weekly so I know where I am at. And I use a spreadsheet. The spreadsheet I have everything listed in detail. Housing, food, car, etc. Our budgets change monthly so this gives me a good overview of what to expect. PS I am retired and work part time. Social Security pays all my housing and food, part time job is for a little 'fun' money and saving up for future things like paying cash for a newer car in a year or so.
YES! The first week has always been tough for us because of everything being due, so we actually called places and changed due dates to mid month and it was super helpful. We use a calendar, as well as Every Dollar. We get paid every 2 weeks so notating which bills are being paid on a Friday or close to that day, and knowing we have enough in the account to cover a bill is helpful! This month is the first month we have actually tracked all our expenses! We spent a little extra on fooooood but at least we tracked it, and we have spent less than previous months. We have $7k in credit cards, a small-ish student loan, car loan and mortgage...it's exhausting but we feel good about finally getting started
Absolutely agree - this has been the method that actually worked for me. I color code pay days as green, debt payment as red, necessity in blue, and planned/budgeted fun in purple. Then everything is on autopay. I daily check my balance in the morning and check off what has been cleared and my bills are ties to the first or second pay of the month. I also changed dates when I saw the third week was bill heavy. At month end, the last day what is left I do a 50/50 split to saving and debt repayment extra. This has been more realistic for me, family of three in NYC. Also, on the calendar my husband sees finally what I mean about which week we cannot eat out or which week we can do something under $75. It took about three months to see that it worked easily and just about a few minutes a day or week to make sure we are on track. Progress not perfection and giving yourself grace on a tough month - but being honest with yourself on what you really need and want. Keep the great content! ❤
I found writing down all my expenses & then bills due each month works the best. Working on keeping better track for groceries/eating out. Tried some of the apps but I lose interest after a few months. Also autopay works so good for saving money.
I am impressed. I also did a check with the companies regarding changing payment dates that would boost my credit score ( because I always am able to pay on time)and guess what?? It boosted my ratings, YAY. I list my budget each month ( because it can vary with extras), and I follow it to the end of the month. I now feel in charge of my money.😊
Wow! Thank you for this resourcee. It's awesome. It's going to help me with estate planning lol. Only budget categories are missing but I think I've got them.
When I had a mortgage and a car payment that was a lot. What I would do is pay both at the beginning of the month then at the end of the month save up half of my mortgage payment then when it came to pay it I only had to come up with the other half. The first month you do that is hard but after that it helps a lot then it doesn't hurt as bad.
This is exactly how I budget and have for years. If there is leftover from a paycheck, I will pay another bill early and what's left, I will apply to debt. I use Google sheets for our budget and yes, I still use checks lol. Great video!!!!
My favourite budgeting method is too start creating the new monthly budget at least a week before my current monthly budget is over. I dont just write it and forget it. I review my budget periodically on average once a week to see what is coming in and what is going out. Sometimes a bill is higher than average or i was sick and my paycheck is smaller. I will need to tweek my budget accordingly. It feels good knowing that because I have a budget I know where I can take a little funds from such as dinining out or fuel and put it into a higher hydro bill and it wont be a problem.
We use Mint App. We are putting money into our emergency fund weekly. I find it easier to pay bills then put money into our savings. We discuss what we will pay on our pay periods too. Thanks for sharing this video. I find it encouraging. I started reading Rachel Cruze book Love Your Life Not Theirs. I am on Ch 6….
Mine is close to this paper and pen still. I'm at the point that saving is more than my house payment most months. Can you repost your emergency binder. This is what I need to work now.... or the link to buy.
Funny you say no checks cause it's 2023....we will always pay with physical checks. Paying online and with credit is what got us in trouble in the first place. We do a calendar monthly budget and have been debt free for over 10 years. Will definitely be downloading the workbook to see if there is any way of tweaking our system. Thanks
I still write a few checks. I am finding various businesses will charge you to pay online. 60¢ for a stamp is cheaper than a several dollar fee. x 12... ugh...
