I admit that I like to go shopping. Who doesn’t? Whatever it might be: clothes, cars, home decor, pets, tattoos, coffee mugs; everyone has their thing.
Having a family means cutting down on unecessary shopping and beginning to use money and time in a more strategic spending pattern. I honestly don’t know how any family survives without a budget. If we didn’t do it here at the Rockstar household, we would have some serious problems on our hands.
With just a few simple steps you can create a budget, become more aware regarding your spending and possibly free up some cash to hit the mall, farmers market, boutique, tattoo parlor, pet store, etc.
Bills and Budgets 101
1. Write it down: Keep a “bill book” so you can look at trends from one month to the next. Keeping a log book of what you are spending makes you even more accountable for every dollar coming in and going out.
2.Know what you make: This can be as easy as sneaking a peak at your pay-stub or it can be a little more tricky (i.e. self employment). Do you need to work a little overtime to reach your goals or can you skip the extra hours and relax this month?
3. Know your bills and other necessary costs: Make sure you don’t forget gas, groceries and other necessary purchases that you make multiple times throughout the month.
4. What’s the difference? Subtract the “bills and necessities” from the “what you make”. What will you do with what’s left over? This amount may vary from month to month so use it wisely.
5. Let’s get visual: We keep the “bill book” open to the current month so every time we pass the desk, we have a reminder. It is easily accessible just in case we need to make some quick spending decisions.
6. *BONUS* Save: Spend a little and save a little. Make savings one of you monthly “necessities”. Set a goal and a timeline for your savings and spending cycles. Enjoy.
*** Talk to me. What are you saving for? ***