Step 3- Your Budget: Variable Expenses

So far, you’ve got your income and your fixed costs for every month logged.  The next step in our beginning a budget process is the variable costs.  These include things such as gas, groceries, electricity, water, etc.  Basically, any cost which you do not know how much it will be each month.  There will be lots of these, that’s to be expected.  So for today and the weekend, go ahead and start thinking about these.  By Sunday evening, you’ll need to have compiled everything, your income, your fixed expenses, and your variable expenses.  Enter each of these into a spreadsheet.  I’ll try to post an example of what works best for me over the weekend, so you can see how I do it.  At first, it may not look pretty, but we’ll start amending the numbers in your budget next week, so we can make it work.  Our end goal is for you to be able to see how much you are making, how much you are spending, and last but not least, how much you are saving.

Continuing Step 2 of Our Budget

Yesterday, we began the fixed expense portion of our budget.  Now, I know this can take some time to make sure you have covered everything, so we’ll take another day, just to make sure we get it all.  So, think hard if there is anything you are forgetting.  It is crucial that we begin this on the right step, as everything builds off of each other.  I encourage you to tell your friends you are starting a budget.  I think we are at a crucial time now where people need to become more aware than ever about their finances.

Please let me know if you have any questions, or comments.  I encourage conversation here!  Have a great day!

Step 2 -Your Budget: Fixed Expenses

As we talked about yesterday, we’re going to begin planning your new budget.  There are several different components that will go into this, so we’ll take it a day at a time.  When we’re done, you’ll have a full working budget so you can keep track of everything for the first few months, and plug the gaps in your spending habits. 

Today, we’re going to work on the fixed expenses in your budget.  This will include anything that you know exactly how much it will cost each month.  These are items such as your house or rent payment, insurance, internet charges, home phone charges, cable bills, etc.  So, go ahead and begin thinking and jotting down all of these costs that you can think of.  Even if it seems like a small cost, write it down so you can plan for it.  I find it best to compile the budget in some type of spreadsheet.  It makes it easier to keep track and seek out any information you need.

If you have any questions on whether something is a fixed expense, please comment and I’ll get back to you with my opinion.  Have a great day!

Step 1-Your Budget :Income

As we talked about yesterday, we’re going to begin planning your new budget.  There are several different components that will go into this, so we’ll take it a day at a time.  When we’re done, you’ll have a full working budget so you can keep track of everything for the first few months, and plug the gaps in your spending habits. 


Today, we’ll start with the easiest part of your budget-your income.  Everyone likes to think about this part.  Take the day to jot down all areas in which you have income each month.  This could be from your regular job, any side jobs, other sources of income, and as much as I hate to say it, unemployment pay.  For clarification, I don’t disagree with unemployment, I just don’t like the fact that so many people are going thru it right now. 

If you have any questions, please comment and I’ll get back to you as soon as I can.  Have a great day!

Time for the Holidays and Time to Set Your Budget

With the holidays coming up, most of us expect to spend more money than other times during the year.  We have expenses come up such as gifts for friends and family, additional food costs, and sometimes even entertainment costs.  Wouldn’t it be nice to have all of that money already saved up, so you could do all of these things without worrying about the money?  Starting tomorrow, we’re going to begin creating a budget.  I thought this would be a good starting point to the blog.  I am a firm believer that you need one, so you can see where all of your income is going, and ways you can avoid overspending.  So, today you must start getting excited about SAVING MONEY, and becoming more financially savvy!  It will be a great feeling to see what you have left over at the end of the month.  Trust me, you WILL feel like you’ve accomplished something. 

For the rest of the day, just get ready to start seeing your life gradually change, as you begin to change your saving and spending habits once we’ve established your budget.  Have a good remainder of your day!

Are You Ready?

Hi everybody-I am Jeremy.  With the economy the way it is today, many people are looking to scale back on spending, and trying to find new ways to cut their spending, while doing the things they used to do.  I feel the same way you do.  I am starting this blog to hopefully provide you with a source of information on how to make your dollar stretch, increase your savings, and become financially secure.  We will discuss a wide range of topics covering the financial industry.  Comments and discussion is strongly encouraged!  On this site, we are all looking to achieve the same thing, so we are all on the same team!  I hope you enjoy the posts, and I look forward to walking with you the next few years!