5d • Community Chat 😄
The 5-step budget process
I know budgeting can seem hard and overwhelming, needing to keep up with every expense every time. But the truth is it's not that hard if you stick with it for just a little while. So here's what everyone should be doing with their money.
Here's your step-by-step guide:
Step 1: Write down your income. How much did you bring home last month? After taxes. That's your number. That's what you actually have to work with.
Step 2: List your fixed expenses. Rent. Car payment. Insurance. Phone bill. These are the bills that are the same every month. Write them all down and add them up.
Step 3: List your flexible expenses. Food. Gas. Eating out. Subscriptions. These change month to month. Use an average if you're not sure. Be honest with yourself here.
Step 4: Give every dollar a name. Take your income. Subtract your expenses. Whatever is left needs a job. Savings. Debt payoff. Giving. Fun money. If a dollar has no name, it disappears. Every time.
Step 5: Track it all month long. A budget you set and forget is not a budget. Check it every few days. Adjust it when life happens. Stay in control.
Proverbs 21:5 says, "The plans of the diligent lead to profit." A budget is your plan. And God rewards the people who make one.
The app I recommend for this is EveryDollar. It's free, simple, and built on zero-based budgeting, which is exactly the method I just mentioned. Start there: EveryDollar link
P.S. Your first budget will not be perfect. Build it anyway. You can fix it next month.
P.S.S. Was this helpful? ⤵️
Yes
No
0
0 comments
The 5-step budget process
powered by
skool.com/finding-financial-freedom-5651
Christians want to find financial freedom. Here you do that through God's word
Suggested communities
Powered by