Let’s develop that spending plan!
Before we move forward let’s pause a moment-
In 2018 I /we will develop the skills we need to live with the amount of money we have.
In 2018 I /we will not allow define ourselves by the amount money we have.
In 2018 I /we will not have a "Budget" – It’s a Spending Plan!
Let’s categorize and prioritize our spending. Maybe you made that New Year’s resolution to pay off all your credit card debt, and you’re thinking that the first thing you should do with each paycheck is pay-down that debt before you do anything else. In a few months something comes up, an emergency or a weekend hotel/spa deal that you can’t resist and that’s long overdue. You don’t have any cash to pay for it, so you put it on the good old credit card and another New Years resolution dies a silent death sometime before MLK Day. The spending plan is just like life, we have to get our priorities straight if we want to get right.
I don’t pay anyone else before I pay myself.
I pay the Universe 2nd in gratitude for today’s breath
I pay for my family’s Shelter- Rent/Mortgage/Insurance/Electric/Gas/Cable
I feed myself and my kids
I protect myself and my family- Health Insurance Premiums and Doctor Bills
I stay mobile in mobile world- Car Payment/ Insurance/ Fuel/ Lyft/ Maintenance/ Parking.
I clothe myself and my family- Clothing/ Shoes/ Dry Cleaning/ Laundry
I entertain myself and my family- Movies/ Disneyland
I pay my rent to Uncle Sam and the great state of California
I plan for that vacation
I've attached a sample of how I set up my month below- It’s a lot easier to show you this than to explain!
This list reflects how I record and categorize my spending each month. Unlike my Granny, I use an excel spreadsheet to keep this all straight. If you don’t have Windows Office you can use the spreadsheets in Google Docs (it’s free). I don’t like to use apps because most that I’ve seen want my banking records and I don’t want to streamline or save time when I handle Imy money. I want to take my time and be aware of what I’m doing when I handle my money, more on this particular subject next week and why my prioritize the way I do!