Budgeting 101


budHow do you budget?

The value in budgeting 101 lies in the power and ability to control your money and not have it control you. I began with a conversation between myself, my bills, and my wants. I educated myself fully regarding my fiscal overall number. I became aware of how much money came in as well as how much went out. I started out with an excel sheet of all my bills and large ticket items that require monthly payments or attention. Then I compared that to my last three months of bank statements. With this I was able to see where my money was really going. I was the able to notice patterns in my spending. For example I saw that I spent $250 every month in personal maintenance.  Once I had an idea of what my fiscal reality was I was able to identify my weaknesses and make adjustments that aligned with my budget.


How do you also make sure you have a life and budget?

As I’ve gotten older my idea of having a life has changed. I have a “fun allowance” which I can contribute to anything that I see fit. However, I now have goals in which I’m trying to attain focus in several areas of my life. Financial freedom, healthy living, and general good living are amongst my top priorities.  A healthy body is very important to me. Exercising for me is living, its part of a life I desire to live. I joined a boxing club to help sustain this goal. I budgeted my $78 dollars a month for my boxing membership.

As a business owner of “Resumes Certified” a full career development  firm my schedule is rather full. I am only able to attend boxing class 4 times a month. However, that combined with workouts at home and Saturday morning runs in memorial park are worth the investment.  Again it started with me deciding what was important to me finically


How do you save? 

My savings journey has been full of highs and lows. I started out with a savings plan that quit honestly made no sense. My plan was to pay off my bills and then with that extra money, saving would be much easier. The first few months I paid down all of my bills but paid nothing off. By the fourth month I had paid off two bills and was close to paying off another. However in that same month I had created a new bill.  Seven months later I had saved nothing I went back to the drawing board.  “A fat purse quickly empty’s if there be no golden stream to refill it.”  The Richest Man in Babylon by George Clason. I needed to save and create my golden stream. My second plan of attack was to start off saving “a little”. I again accessed my situation and decided on a realistic monthly commitment I was prepared to make today not tomorrow. My first test was to just be faithful to the commitment. I had to ensure that the agreed upon amount would be placed in my account every month and then that I would not touch it no matter what. This plan worked for me, after a year I increased my contribution.

The Career Chicks11 Posts

The Career Chicks are Resume Gurus, Career Coaches and Speakers. They offer career tips and advice and provide students and professionals with the exposure, tools and techniques needed to create successful career plans and goals.


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