Many of you have asked me to share how I do my Monthly Budget. So, here you go!
It’s so simple, really! Forget the complicated stuff.50/30/20That’s all you need to remember. I learned this formula from IIN :)This is the budgeting technique that I use myself, and with my Health Coaching Clients.50% NEEDS (shelter, transportation, food, utilities)

30% WANTS (everything else)

20% SAVE/PAY-DEBT (save and pay-debt including credit cards, student loans, car loans, etc.)

With my Clients, I work with them to create a one-month budget.

For you, just start by saving all of your receipts. At the first of the month, add up all of your spending to see where you spend your money.

You can keep your receipts organized in a simple accordion file from Target that could cost you anywhere from $1-$5 dollars.

Separate your costs into different categories like:

• Rent
• Ultilities
• Phone
• Gas
• Car Payment
• Repairs
• Insurance
• Groceries
• Dining-out
• Home
• Gifts
• Etc…

It’s so good to know where you’re spending. After you do this for one month, create a 50/30/20 budget for yourself, and try to stick to that budget the following month.

Tips to become more of a saver & less of a spender:

• Cash, not Credit
• Stick to the 20%
• Eat at home more
• Take your lunch to work
• Wear all of the clothes in your closet before you buy more (turn your hangers around, when you wear something, turn the hanger the correct way)
• Do things that are fun and cost-free: take walks, lay at the beach, read a book, watch a show, stay in and have a fire… etc…
• Save your receipts
• Use a transaction register and write down what you’re spending

Challenge: write your spending down for one week. Everything you buy. Where are you over spending?