The thought of creating a budget spreadsheet can be intimidating. The entire point of these tools is to simplify money management so you can think about your money less, not more.ģ budget spreadsheet templates to get you started You can then use a budgeting app to help you stick to it, for example, by automating your expense tracking. Straightforward spreadsheets can help you create your conscious spending plan. Finally, you need to actually stick to your plan.īudgeting spreadsheets and tools can help at every step. You then need to decide how much money to allocate to each bucket. You need to start with a bullet-proof budget, categorizing all of your expenses into one of those four buckets: fixed costs, investments, savings, and guilt-free spending. Money Dials could include things like fitness, convenience, luxury items, travel, self-improvement, and social status.Ĭonscious spending is a great way to enjoy life while still building a financially secure future. By honing in on your Money Dials - the things you really love to spend on - you can prioritize your spending in a way that makes sense for you. Following this logic, you categorize your expenses into essential fixed costs, important investments, savings goals, and - last but not least - guilt-free spending.īy allocating space in your budget for the fun stuff (minus the guilt), you’re more likely to stick to that budget in the first place. Instead, consider trying a conscious spending plan. The truth is that living a life of constantly telling yourself “no” isn’t sustainable (or enjoyable). Many people assume that effective money management means scrounging, saving, and never enjoying life. Smart money management can help you achieve those objectives. You might also have smaller, more short-term goals, like saving for your dream wedding or buying a luxury car. You likely have some financial goals in your life, whether it’s improving your net worth, paying off your college student loans, or achieving FIRE (financial independence, retire early). How money management helps you meet your financial goals Read on to learn about some simple personal budget management tools that can help. There’s no need to invest big bucks in complicated and confusing financial technology.
The right spreadsheet and budgeting technology can help you create and track your financial budget. That means spending more on the things you want while still staying in control so you can achieve your long-term financial goals. By improving your money management, you can focus on making your money work for you. Creating a budget doesn’t have to mean setting yourself up for a life of restriction.
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