New Year, New Budget

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I got my pretty pink mammogram reminder in the mail the other day.  This is also my indication that it is time for that other annual check up too.

Do you get yearly health check-ups?

How about yearly financial check-ups?

Both are so very important to do for a myriad of reasons:

  1. Just to make sure you are on track with either your health or your finances.
  2. If there is a challenge to either then you can change course.
  3. It is always a good idea to have someone else give you an unbiased opinion.
  4. It’s less expensive to “prevent” a problem then to fix one.

I can’t tell you how many of my girlfriends do NOT give themselves yearly financial check-ups.  If you are one of them, why not?

Isn’t your future worth a couple hours of time?

One of the first things I do is fill in an actual budget form. Yes, even I use one. And I am dorky enough to save them from year to year.  I like to see progress…or not.

FREE Budget Worksheet!

The budget form is work.  You will need to get some basic information together…like how much you earn, how much you pay toward your monthly bills, how much you put into your savings and retirement, etc.

I know that some people’s utilities vary month to month, so I do a high guesstimate.  For example, there are times my electricity is $240/month and others when it is $130/month. I just guesstimate at $200 for my budget.

And for things like “car maintenance”, I figure out how much we spend yearly on oil changes and divide that number by 12 to get a monthly projection. Ideally we would be saving this amount in an account earmarked for car repairs.  I do the same thing with clothing.

The form has a place for current income and spending and projected income and spending.  If your numbers are in the negative don’t hesitate to give me a shout. I would love to help you get back in the black.

I would be remiss if I didn’t send a shout out to my good friend Adrianna over at Military Money Chica for the Budget Worksheet template and for giving me a hand with the technical difficulties of this post.

May you all be blessed with a prosperous and faith based new year!

 

 

 

 

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