The Budget Calendar: What Is It And Do You Need One?
One of the first and easiest steps you can take with your finances is to create a personal budget calendar.
What Is a Budget Calendar?
A budget calendar is similar to your everyday calendar, except it tracks the dates of your income and expenses.
Every good budget calendar will include:
- Your income: How much you are earning from each paycheck or what you make if you work for yourself. - Current expenses: Typically, your bills will fall on similar days each month. Planning these out on a calendar gives you the big picture. - Current savings: How you plan on scheduling money to save in your emergency fund or other investments.
The Benefits of A Budget Calendar
Budgeting allows us to keep track of our income, save money better, and ensure we are spending it where we have intended to.
Opting for a budget calendar should help you:
- Track spending and create a spending plan - Highlight where cuts can be made - Review your income - Plan for the future - Help you tackle any debt faster - Better understand your living expenses
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