A Step-By-Step Guide To Using A Budget Binder To Afford Your Best Life
That is until I started using a budget binder to organize my finances!
Using a budget binder to organize my finances has made my life 100x less stressful, and ultimately led to our family’s financial independence.
Do you need some help organizing all of your budgeting information so you can stay on track for financial independence?
Then, you’re in luck! The Budget Boss Binder makes it super simple to organize your finances + makes staying on a budget easy with user-friendly tracking pages.
It is essential that you track your finances if you want to become financially independent.
Because of this, we’ve included these 5 pages in our Budget Boss Binder:
1. Income + Expense Organization Page
2. Bank Account Organization Page
3. Monthly “Due This Month” Calendar
4. Monthly Ledger
5. Monthly Bill Pay Checklist
If you aren’t tracking your finances, you can’t be spending your money very strategically. And, if you’re not spending your money strategically, you’re decreasing your likelihood of financial independence.
Let’s walk through exactly how I use each page of my budget binder, so you can rock your finances like the pros, too.
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Next, you’ll need some supplies to set up your budget binder! These are what I use:
- A three-ring binder
- Tabbed dividers labeled with the months (with pockets for bills and looseleaf paper)
- Budgeting Printables
- Three-hole punch
So, how do you use each of your budgeting printables for optimal budgeting success? Let’s find out.
On this page of your Budget boss Binder, you’ll see two sections:
1. Your Monthly Income
2. Your Monthly Fixed Expenses (print out an additional page for variable expenses, or, include them on same the page.
Here, you can see exactly how much money you make each month versus how much money you spend.
This is enlightening because it allows you to clearly see where your money is going + gives you insight into how you could spend your money more strategically.
For instance, could you cut some things out of your budget to have extra money for paying off your debt? Or, maybe you’re spending quite a bit of money on fast-food and shopping; money that could be better saved for an early retirement.
Take responsibility for your spending habits and adjust accordingly so you can have a less stressful relationship with money.
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Now, this isn’t any ordinary bank account organizing sheet. Nope, it is a way to automate your budget so you’ll never miss a payment again.
How? Well, as you can see, there are places to record your basic information, such as account and routing numbers + your login information.
But, what’s really important, are the lines available to record your percentage of income + your amount of income being directly deposited into each account.
For example, I have four bank accounts that I assign a percentage of my income to, as follows:
1. Fixed Expenses Bank Account – 70%
2. Variable Expenses Bank Account – 15%
3. Personal Spending Bank Account – 5%
4. Savings Account – 10%
(Pro Tip: Use your income + expense printable to figure out your percentages)
This is a cool way to set up your budget because you’ll have the exact amount of money you need to cover your spending directly deposited into each account on payday.
This can help you spend more responsibly, save more strategically, and pay off debt quicker.
Say goodbye to living paycheck to paycheck + say hello to never missing a due date again.
(Pro Tip: Set your bills up for recurring automatic payments so you don’t have to remember to pay your bills.)
Having a monthly calendar for your finances is great to see an overview of expenses and to also record any surprise expenses for the month.
And, bonus! This printable is not dated so you can easily use it for any month and year by just filling in the number slots yourself.
You can also use this printable to track your financial goals + stay on track to crush them.
Then, throughout the month, use your monthly ledger to record a more detailed flow of your income + expenses.
Next in your Budget Boss Binder is my fav printable for budgeting; the monthly ledger!
Start by recording the starting balance in your bank account at the beginning of the month. Then, throughout the month, record your adjustments, such as rent, electric, and car insurance.
This way, throughout the month, you’ll be able to see how much money should be in your account and also how much money you’re spending.
Tracking your spending with a tracking sheet such as your monthly ledger will help you see trends in your spending habits and allows you to make changes to your financial habits so you can have a stress-free relationship with money.
Having the ability to clearly see your finances and take charge of them will be key to your financial success.
The last page in your Budget Boss Binder is the bill pay checklist.
This is a great place to organize your monthly expenses, their amounts, and when they are due.
Then, throughout the month, you can easily see which bills are coming up and verify that you’ve paid all your bills thus far.
It’s hard to miss a payment when you’ve got such a handy reminder that you can access on your smartphone, tablet, and/or computer; any place, any time.
Money was something that I was always stressing over, trying to manage multiple streams of income + expenses.
But, with the Budget Boss Binder, I can rest assured that my finances are organized and set up for success, which gives me hella peace of mind.
If you stress about money, fight about money, or just want a better understanding of your finances, the Budget Boss Binder is a great start to your financial success.
Download today, budget happy, tomorrow.
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