Making the most of what comes and goes in your bank account can be a minefield.
There are so many automatic pre-payments, standing orders, one-time payments, top ups, unplanned expenses, and other payments to watch out for, that you could suddenly log into your account online banking and ask yourself why. in the open, or why there is no money left for a certain bill or an expense .
That's why it's so important that you establish a monthly spending pattern to help you stay on top of things. Not only does this prepare you for better money management, but this organization can highlight payments that you may have forgotten and that you no longer need. It's spring, a "spring cleaning" of your bank account can do you good!
There are many models of online monthly budget planners that you can use, but in this case we will refer to one of the most useful (and easy) online systems, . created by Wonga .
Their simple budget planning on their blog opens as a spreadsheet in Microsoft Excel.
So you only need a computer. The budget sections are divided into the following 12 categories.
You can enter your own values and really control your expenses:
Your Monthly Housing Budget
Your monthly food budget
Your monthly transportation budget
Your monthly personal care budget
Your monthly budget for the care of pets
Your monthly insurance budget
Your monthly budget for taxes
Your Monthly for Existing Loan Payments
Your monthly legal payments
Your monthly budget for gifts and gifts
Your monthly budget of savings and investments
Your monthly entertainment budget
Once you have seen these categories, you can see that they are broken down into individual rows with a "projected cost".
First check your bank account and write down each expense. It is also possible to update the actual cost of this expense in the model and calculate the difference. This means that you can see where you are spending too much, which is highlighted by a red icon.
The use of color in this way is very useful because you will have more chances to take this as a red flag and do something to change it. Because the model is flexible, you can also edit sections, add new rows, or delete items that do not concern you.
Over time, your pattern also changes, just like your expenses. Expect to edit bits here and there, but overall, once you've set it up, the majority of leg work is complete.
The Blog of the Informed Couple explains how beneficial it can be to do so "(A budget template) allows you to understand what you can do to make the most of buying and investing opportunities and plan a way to reduce your debt.
It also tells you what's important to you based on where you spend your money throughout the month. This will allow you to adjust your consumption habits in the right direction to achieve your goals. "
There is no better time to start a budget template – it's easy.
You do not need a certain time of year to do it.
You can manage your finances NOW and reap the benefits immediately.