I often find myself overspending or not being able to properly utilize my credit cards due to a fear of overspending. I’ve thought about a budget but I often have issues with spending too much of my paycheck when I receive it or spending too much of a line in the budget, for example spending too much on fast food which could be prevented but also spending too much on gas which may not have been preventable. As we using apps or excel and how can I account for extra budget such as side Jobs, typically 80-100% of that extra money goes into savings but most of the budgeting apps or spreadsheets rely on you making the same amount of money each money without fail
How can I establish a budget and stick to it?
byu/imma_ask_questions12 inpersonalfinance
Posted by imma_ask_questions12
3 Comments
I have been using the Budget Tracker by The measure of a plan for the 5 years now. You should check it out. I’ll try to link it here in the comments.
I think the cash stuffing method would work well for you.
It’s where you split your spending money into separate “envelopes” for things like groceries, gas, and eating out.
You put a set amount of cash in each one every month or payday, and you only spend from that envelope for that category.
When an envelope is empty, you’re done spending there unless you *intentionally* move money from another envelope.
it makes your money super visible so you’re not spending ‘blindly’ using credit cards and stuff.
Another question, how do I get a good baseline of where to start the budget numbers for each category and how do I properly adjust them?