MakingABudget

Making A BudgetMaking a budget can be a hard task that can be a cause of stress both on your psyche and on your wallet. Getting started is rough and most people often wonder why the are always broke right before a paycheck. This is my method to budget making (While I live on nothing pretty much most of the time). This budget method allows me to be the sole provider in my relationship and still have money left over for savings, stocks, and fun activities.Start A LedgerWrite down all incoming and outgoing finances. Starting in order by what you can always expect, and then what you cannot expect. Do this over the course of your month and repeat.

Paychecks and Amounts (Dated with amounts)

Bills Breakdown, Paid and Unpaid (Dated with amounts)

General Expenses (Housing, Groceries, Gas / Transport, Medical, Internet, Phone, Child Needs) This is your baseline of bills and expenses. All your NEEDS are here.
Enrichment (Books, Haircuts, Health Goods, Home Maintenance) This is all your WANTS that make your life BETTER, but also not NEEDS
Fun and Leisure (Subscriptions to services, Shopping, Gifts, Treats) This is all your WANTS but not NEEDS.
Unexpected Costs, every cent or dollar in buying something you did not plan to or not listed above.

Begin by setting auto-draft up with your bank, have the dates noted on the ledger, and the amounts. When a paycheck comes in, withdraw a weekly, bi-weekly, or monthly allotment in cash (This is your NON-BILL MONEY) All of the expenses outside of the General Expenses will come from this. Using this method and having all outgoing bills set to draft, not only gives you peace of mind knowing all your bills are paid correctly but also lets you see how much you are spending outside of your needs. After the cash is gone, it's gone. Any cash leftover at the end of the month is now a cash-savings. Put it in a safe for emergencies or for potential nights out.When looking to save money, being cutting away at each category, starting from the bottom and working your way up. Always be looking to save that 20%-25% of your total monthly earnings amount. When you think you have a good dollar amount set for savings, set a withdraw to your savings to draft every week, bi-weekly, or monthly directly to your savings. This is your now LONG TERM savings, planning for a big purchase or a trip will come from this.This is a process, just like all good things in life, this is going to take work, dedication, and patience. You will not see the results you want until about 3 months in. The sooner you start saving, the sooner you will see the results and process working for you.Additional Readinghttps://www.consumer.gov/articles/1002-making-budgethttps://www.consumerfinance.gov/about-us/blog/budgeting-how-to-create-a-budget-and-stick-with-it/