You prepare a Budget by starting. Simple and straight to the point , right? Well, let's go further. Now there is practicality when looking to grow your relationship with money, so let's look at those things.
What is a Budget? A Budget is a defined financial plan for a period.
Why do you need a budget? You need a budget because it helps you keep track of where your money is allocated, it gives you a goal to look forward to, it roots discipline in you.
Now that you know what a budget is and why need it, let's review how to prepare one. Jasmines tips:
1. Create some space where all of your bills are written out. And NO trying to remember them in your head will not do. In each My Budget Binder there is space to write out every bill. Separate which bills you pay monthly, annually, and yearly.
2. After you have written out all of your bills, write out the exact dates that the bills are due AND the amounts of each bill.
3. This is where the discipline comes in at. Managing your paychecks monthly. What bills come out of each pay period. When are you paying each bill off?
4. Make the time! Stop overthinking it and set aside the time. Take 15-20 mins out of your week and review your budget. What went well? How can you improve? How can you add extra money into your budget?
Finally, Budgeting in itself is not hard, it will take being intentional however. You owe it to yourself to start or even continue making strides! Sit down and open up your My Budget Binder.