How to Plan a Budget

My new year's resolution is to save money, and go by a budget plan. So I had my friend Lindsay help me.

Difficulty: Easy

Instructions

Things You'll Need:

• Paycheck
• Some type of spreadsheet on your computer (makes it easy)

1. 
   Budget $

   Help of a budget plan courtesy of Lindsay M. This all an example:
   
   First you want to write down all the bills that you pay each month.
   Then you want to go by your least amount of pay.
   
   1. Example: $450 for totaled bills each month.
   2. Least paycheck for example: $350

2. 
   Excel Sheet

   So say you get paid $350 bi-weekly, that's $700, that'd be your budget.
   
   3. So every bi-week pay take out $225 towards your bills.
   4. Take $50 out of each pay which would be $100/month for savings. For whatever you are saving for. Right now I want to save payin off my car.

3. 
   Paycheck

   You gotta have fun money.
   
   5. Take out $75 out of each pay as your fun money. Get it in cash. Once your cash is gone, wait til next payday to take out cash again.
   
   So here's the whole example of a budget plan (also I put it in excel):
   
   BUDGET
   
   Bi-Weekly Monthly
   ------ -------
   PayCk: $350 $700
   Bills: $225 $450
   Savings:$50 $100
   Fun: $75 $150
   
   Hope this helps, I'm off work right now so once I get back to work I'm gonna start doing it. The hard/tricky part is trying to stick to it.
   This is my new year's resolution anyhow.
   don't forget to include what you spend on groceries and what not, etc.

[grammastacie]

on 10/21/2009 in todays economy budgeting is the only way to financial success! 5*