![]() ![]() Goal setting is oh-so-important to me, especially when it comes to finances. Monthly Check-in Page– This page helps you take a look over the previous month’s finances and gauge what you did well and what you would like to improve for the upcoming month.Pages to Track Variable Monthly Expenses– These sheets track expenses that vary some from month to month like grocery shopping, eating out, gas, clothing, etc.Pages to Track Recurring Expenses– These sheets track bills that stay pretty much the same each month like mortgage/rent, car payments, student loan payments, utility bills, etc.Goal Setting Sheet– Set financial goals for the year so you know exactly what you’re working toward. ![]() Cover Page– Keep track of your binder (and make it pretty so you want to use it often)!. ![]() (If you click on each of the links below, you can jump right to the explanation for that particular page.) Here’s what to include in a budget binder: There are several key pages that I include in my budget binder each year. ![]() What’s most important is being honest with yourself about what you can realistically achieve with your money.What should be included in a budget binder? It’s okay to compromise so that you can still have a few luxuries. This isn’t about cutting out all the things that bring you joy. ‘Wants’ are things that you enjoy but aren’t essential, such as meals out or TV streaming subscriptions.Īre there any areas where you could cut costs, cut back or cut out?Ĭut costs means finding a way to do something cheaper, such as switching to a different internet provider or trying different brands of a product in the supermarket.Ĭut back means doing something less, such as taking a packed lunch to work rather than buying lunch out.Ĭut out means getting rid of something altogether, such as cancelling memberships and subscriptions that you no longer use. ‘Needs’ are things you realistically can’t live without, such as food and paying your rent. Colour code anything that is a ‘want’ in one colour and anything that is a ‘need’ in another colour. Look back over the things you listed in your expenditure. if you spend £200 on Christmas, this would be about £16.75 per month). Divide the amount you spend by twelve to get a monthly amount (e.g. Christmas, for example, only comes round once a year but can be an expensive time, and so it’s important to factor it into your monthly budget. Leisure, including meals out, hobbies and subscriptions.įuture needs, such as birthdays, Christmas, holidays, home improvements, pension, investments and life insurance.ĭebt repayments, including personal loans and hire purchases.Īgain, remember to think about your expenditure across the whole year. Travel and vehicle expenses, including fuel, maintenance such as your annual MOT and repairs, road tax and insurance, and public transport costs.Ĭosts related to family and pets, such as vet bills, pet insurance, childcare, pocket money and school trips. Living costs, such as food, clothing and health care. Home costs, such as rent/mortgage payments, household bills such as gas, electricity and water, and building/contents insurance. Go through your bank statements and break down your spending into categories: Next, you need to figure out what you spend your money on. ![]()
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