Something that is never easy (it’s typically always hard) but beyond beneficial?  Well a lot of things… but setting a budget is close to the top.  I feel that I often get swept up in small purchases that then completely derail my plans to save money.  So how have I gotten my CC paid off, increased the savings in my account and still allowed myself to shop?  A clear monthly budget based on expenses and incoming funds.

To create my current budget I first started compiling all my usual monthly expenses.  Rent, utilities, Netflix and Spotify subscriptions, monthly vitamins, my skincare routine (yes, it’s that necessary), average grocery bills, etc. all add up so I wanted to make sure I knew what my base spending was.   

Next I took a look at what incoming funds I had.  Pulling all my income, including biweekly paychecks, side hustles, any bonuses I can account for, etc. so I know what I plan to have coming in each month post taxes. 

Doing some easy math, incoming minus regular outgoing I knew what funds I had left to play with.  So how to spend that? 

First I took a look at the debt I needed to pay off (credit cards, student loans, etc.) and came up with a payment plan and the exact amount of money which needed to be allocated each month to pay everything off on time, quickly and responsibility while still leaving myself some cushion for savings and addition spending each month.  

Then I made a realistic goal for how much money I wanted to save for the year.  Looking at travel plans, any big purchases that need to be made, etc. I then made a plan for how much I wanted to allocate into savings each month.  

And what was left was my play fund!  Money for going out to dinner, a fancy bottle of wine and shopping sprees!