How to Keep a Simple Budget Journal

In this age of high tech machines and gadgetry, can something as basic as a pencil and a notebook still be useful? Most Definitely! Even though I use the computer every day and I'm not an accountant or a math whiz -- I still find that using low tech, "old school" tools to stay on top of my budget -- is all I need to get the job done. Here's what I mean:

Things You'll Need

• Simple basic notebook
• Pencil
• Red or other color pen
• Calculator
• Ruler

Instructions

1. Get a basic subject notebook. Write down all monthly obligations, such as mortgage or rent, groceries, credit card payments, utilities, etc. Use space below to track personal expenses. This is a good method for those who don't want or like to use budgeting software, or you may want to use it even if you do.

2. Next, write the month and year at the top middle part of the page, and use a ruler to set up three columns: 1) Payee, 2) Payment date 3) Payment amount. Also, you can keep a separate listing in the back with all of your account information.

3. Write down each payment by date due -- usually toward the end of the month for the following month payments. Likewise, pay most payments in one setting. However, some things have to be paid on their own time frame. I put a red check mark by the payments that were paid. It's a good idea to double check.

4. I use the calculator to tabulate expenses or add up the payment total. This helps to plan out what's needed to pay and available money. You can make notes to yourself, regarding payments. It's very flexible.

5. Keep book in a convenient space, so that it's easily accessible and a reminder (Although you can write due dates on the calendar, but that's extra work.), regardless of whether you mail out payments or pay on-line. Remember to check at the beginning of each month.

6. I'm a fan of notebooks and journals, because I have immediate access to information. They are simple and basic tools, that you can add extra notes and information regarding payments. They've helped me make payments on time and not go over budget, by being aware of the "bottom line".

Tips & Warnings

• You need to make this a habit.

• You can preset up pages for recurring months or doing it as you go along.

• The red ink lets you know that a payment has been made.

• You need to be aware of the date of your payments.

• Double check your posts to your notebook for accuracy.

• Keep this book in a safe place.

Resources

• Bill Paying Notebook
• How Make a Budget You'll Use Consistently