Welcome to my blog. I document my adventures as a millennial fempreneur living on the Upper West Side of Manhattan.

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Budgeting Made Easy

Budgeting Made Easy

Budgeting. It should be a four-letter word. I don’t like to think about budgeting because it has always felt like a way to tell myself what I can’t have or can’t do.

A few years ago, my thinking changed and I started to realize that budgeting is more about what you can do than what you cannot do.

What do I mean?

Well, if you know how much money you need each month to live the life you want to live, then you are better able to plan to create that wealth through jobs, side hustles and passive income opportunities.

So how do you actually create a budget?

Start by writing down all the things you do each month. Write down your bills, you credit card payments, your fun funds. Everything you want to have in your life.

Then write down all of your sources of income.

Determine what makes sense in terms of savings for your income, needs and lifestyle. Add that to the pile.

Once you have your final number, see what you can do away with. The end and beginning of the year are great times to evaluate what services you have on monthly auto-payment. If you can, many of those services actually offer a discount for yearly payments and this is the perfect time to switch over to that system.

Additionally, you may have a recurring payment you forgot about for a service you no longer use -- check your iTunes account and make sure that all of the recurring subscriptions on your account are ones you actually use! If you have multiple accounts, double check to make sure all subscriptions are current.

As we head into tax time, a reevaluation of your budget can be a great thing to do. It can help you find opportunities to make your money work for you and help you realize how far you’ve come on your professional journey.

I’m not a financial expert or an accountant but I do have to manage my cash flow as a business owner and this is one way I do that.

Share your tips with me in the comments!


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