A new month means a new budget. I like to start the new month looking over my budget. I do this by first looking at the previous month’s budget and copying over the budget categories that apply to this month as well. I also take this time to look over the previous month’s budget and see what areas could be changed or if we were on track for the month.
I do have a spreadsheet on which I track and also an app on my phone that I use to reconcile my debit card and bank transactions. It doesn’t take very long to do, but it does help us see if we are overspending or getting off track.
So for August, we will have income coming in from my husband’s job and mine. As far as expenses we have a lot of the sames ones each month. We have our mortgage, utilities, cell phone bill, groceries, gas, car payments, and credit card payments. We also like to include our monthly savings on our budget too. This is how we like to keep track of every single dollar that comes into our bank accounts.
For August we’re also going to budget for my mom’s birthday, a few other birthdays, and also my fall tuition. Our goal is to fully fund my schooling and not have to take out any loans or go into debt.
Every month we try to keep our expenses below our income. We do this to avoid going into debt. I can honestly say that it has worked for us and we have made it work. It’s hard to not compare our lifestyles to other people around us and other people on social media.
We have been grateful and blessed to be able to make an honest living and not depend on others. What we have learned to be content with our lives and keep pushing towards our goals. Every day is a new beginning and we should try to do our best. Tell me what you do at the beginning of every month to get prepared for the new month? What works for you and what doesn’t. Any tips you would like to share?