I don't make a lot of money, but I do make enough to have what I want and save a little. I am sad to say I have neither what I want or do I have a little stash put aside. The worse part about the whole ordeal is I have no idea what I spend my money on. That's super sad, and I know I am not the only one in this predicament. Believe me I have tried budgeting , but it just is not my thing. Budgeting my money makes me feel itchy, hot, and confined. So what's a girl to do!
DEVELOP A SPENDING PLAN! A spending plan is the opposite of a stuffy budget. Instead of planning what your are not going to spend, with a spending plan you commit your money to things that matter most to you. A spending plan is a great way to reach big spending goals such as a trip to Africa or that a new car that has caught your eye. Or even the seed money for that little venture that's been stuck in your mind for the last couple of months.
Isn't that a budget? No. A budget is a defeating plan where all your money is allotted somewhere. If you happen to spend to much money you have killed your budget.
Read up on budgeting and saving here, is a great article from the San Francisco Chronicle.
Creating a spending plan is not as hard or taxing as you may think. Here's how:
1. Identify your financial goals ( ex. paying off debt, buying a home or car, saving etc.)
2. Calculate your monthly income, include all extra money.
3. Think about your spending goals while allocating money to various bills and debt.
4. Next, take any extra cash that is not allocated to something and put it into a category ( ex. spending money, grocery, savings, or a car fund). During this step you prioritize your money. Now you know where you want most of your money to go. And what is most important to you. If you get to this step and their is not enough money commit to the places that you would like such as money to put into saving, to go to your daughter's ballet classes etc. then it is time to get another job.
Going through these four steps will help see where your money is actually going opposed to where your would like it to go. Creating a spending plan if you stick to it will help you reach your financial goals.
Here's another good article.
I have created my spending plan, I see where my money is going , and now I have decided that I need to make a little more to reach my financial goals. Create your spending plan and let me know how it works for you!
Read up on budgeting and saving here, is a great article from the San Francisco Chronicle.
Creating a spending plan is not as hard or taxing as you may think. Here's how:
1. Identify your financial goals ( ex. paying off debt, buying a home or car, saving etc.)
2. Calculate your monthly income, include all extra money.
3. Think about your spending goals while allocating money to various bills and debt.
4. Next, take any extra cash that is not allocated to something and put it into a category ( ex. spending money, grocery, savings, or a car fund). During this step you prioritize your money. Now you know where you want most of your money to go. And what is most important to you. If you get to this step and their is not enough money commit to the places that you would like such as money to put into saving, to go to your daughter's ballet classes etc. then it is time to get another job.
Going through these four steps will help see where your money is actually going opposed to where your would like it to go. Creating a spending plan if you stick to it will help you reach your financial goals.
Here's another good article.
I have created my spending plan, I see where my money is going , and now I have decided that I need to make a little more to reach my financial goals. Create your spending plan and let me know how it works for you!
