I have two major tools that I use every month that help me track my money management. They are my monthly budget and net worth calculator. I started this blog to keep myself accountable for my own money management, but I also started it so people could see a diary of my daily struggles and victories with creating wealth, purchasing a house, and saving for retirement. I track my budget every 2-4 days and I balance my check book those same days. I have found that keeping a hold of your budget is the single MOST important thing you can do for starting to create wealth for yourself. I can honestly say that I never understood how people saved money. Before a budget I never saved any money, I tracked my spending based on how much I had in left in my bank account before the end of the pay period. The minute that I create a budget was the minute I started saving money. It took me complaining to my sister about how there is no way that I could save money living in California with my salary. My sister sat me down and told me to stop whining and to create a budget. She helped me understand how a budget worked, and showed me that I could save money if I wanted, even with a little bit of debt.
I am making my budget and my net worth templates available for you to download and use for your self. I hope that for anyone who doesn't have a budget that you use this to your full advantage and start saving today! Trust me, starting is the hardest part, once you have a budget you have somewhat of goal to start either paying off debt or saving for wealth.
• Download Budget (google) Budget (excel - will post later today)
• Download Net Worth (google) Net Worth (excel - will post later today)
Here are some other great money management resources from other blogs
Fi$cal Fizzle Monthly Reports
J. Money is bring Sexy Budgets Back
Man vs Debt ask "What’s The Actual Point Of Budgeting?"
I will be adding more of these so check back! Contact me if you have any tools that I can share with my readers and I will link to you directly. If not, leave a comment and let people know your strategies to saving and creating wealth!
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Hey, thanks for the love. I'm actual going to download the spreadsheet and play around with it a little bit. I think this is a really important part of the process for people. They need to find a system of budgeting and tracking that they are comfortable with.
ReplyDeleteGood post!
Online systems take automatic backup of your data and any software updates are done automatically free of cost. If you are working in a network, an online budgeting system might be more convenient because you can share files and also work on common files which are accessible to the entire network. Online budgeting is beneficial to People who are regular user of the website. For more details refer online budgeting
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