budget me crazy

Monday, November 05, 2012

With the ease of debit cards and keeping up with your monthly bills it is very easy to spend frivolously. Have you ever written your income and bills on paper to see what you would have left before you starting swiping that debit card? If you haven't you would be amazed how much you have left after bills before spending. Sometimes it takes seeing it on paper to realize how much room you have.

A family member approached me for some guidance (they know my ways ;) on figuring out their budget. I asked a couple of questions and then created a Monthly Budget Calculator for them.

I set my family member up on what I call the GFE system. This is paying all your bills, allotting a certain amount each paycheck for Gas, Food and Entertainment and then dedicate all of the rest to savings. Think of it as a financial diet. This allows you to ensure all bills are paid, you have enough to get by and have a little fund and most importantly SAVE! You will be surprised how much you can save. And yes you will have some unexpected expenses along the way but guess what? You won't freak because you have a little stash ;)

If you are interested in this Monthly Budget Calculator check it out here.

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