Time and time again I receive so many questions in regards to starting a budget, where to begin, how to utilize the envelope system, how much money to put in each envelope, and the list goes on. In this 3 part series called "How to Start a Budget" I will be covering the following:
Part 1: The Basics & Where to Begin
In part 1, we will be discussing the basics of a budget and how to start setting up a budget. We will discuss fixed expenses, variable expenses, and how much money we have coming and going. It is important to figure out how much money you have coming in before you can determine how much money is going out and if you are in the positive or negative. This is the first place to start when coming up with a budget and allows you to figure out where you currently stand and generally is the first thing that is easiest to fix. In part 1 of this series we will also be discussing a zero-based budget, what it is, and how it can work for you.
Part 2: Utilizing the Envelope System
In part 2 of this series we will be discussing the envelope system. Most people are at least somewhat familiar with the envelope system and understand the basics of how they work. In part 2 of this series we will discuss what exactly is the envelope system, why use the envelope system, and how it can work for you. We will also be going over how to set up the envelope system and how to determine how much money should go into each envelope.
Part 3: Sinking Funds & Budgeting with Cards
In part 3 of this series we will be going over sinking funds. We will discuss how to set them up and determine how much money should be allocated for those funds. We will also be discussing how to budget with cards opposed to cash as well as some tools that can be used to help with budgeting.
So if you have been thinking about starting a budget for 2014 but not sure where to start, this series is for you! The first part in this series will be uploaded tomorrow, (Jan 12th) over on my youtube channel HERE
Hope to see you there!
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