I really hope my budget overview on my Instagram stories this morning helped you in creating your next paycheck budget!
I have received over 100 messages after I posted the video, so I will be replying to those questions as soon as I can.
I wanted to take a minute and say that when it comes to the actual numbers used in your budget they need to be a clear reflection of what's happening in your own life.
It's the process of this method that I really want you to learn and understand because it will be those steps that help you figure out which values and numbers you need to have for your own budget.
So here is a quick run down of the Budget-by-Paycheck steps that you need to take
1. Write all of your bills and their amounts on your budget calendar. Also include any appointments or events that you need to include in your budget. Remember, your calendar is your reminder system.
2. Write down your paydays on your calendar and figure out what bills you want to pay with each paycheck.
3. Fill out the Bill Tracker. List your regular bills, and then subtract those bills from your budgeted income for that paycheck. Remember to use the "worse case scenario" for your budgeted income.
4. Figure out which categories you want to use for your cash envelopes and the base limits you want to use for those envelopes. Make sure to check out my IGTV channel to learn how to complete this process.
5. Use any leftover income after paying your regular bills to dedicate to your cash envelopes.
6. If you have any income leftover, use it to make an extra debt payment or a savings contribution.
I highly recommend heading over to my IGTV channel to watch all of the videos I have saved there. It will help answer a lot of your questions.
This system can seem overwhelming at first, but I promise you that it will change your financial life. Stay patient, stay dedicated, and stay the course. You got this!
I will be doing a full September Budget Recap, debt update, and business income update shortly! Trust me, you're not gonna want to miss these videos!
Did you find today's budget overview helpful?