The aim is to use tools that allow you to devote fewer hours to your money management. When it comes to budget templates, it’s best to keep it simple, and there are many user-friendly tools available to save you time and stress. Does this mean you’re going to have to master complex financial formulas? Not at all. The thought of creating a budget spreadsheet can be intimidating. 3 budget spreadsheet templates to get you started
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The entire point of these tools is to simplify money management so you can think about your money less, not more.īonus: Ready to ditch debt, save money, and build real wealth? Download our FREE Ultimate Guide to Personal Finance. You can then use a budgeting app to help you stick to it, for example, by automating your expense tracking. Straightforward spreadsheets can help you create your conscious spending plan. Finally, you need to actually stick to your plan.īudgeting spreadsheets and tools can help at every step. You then need to decide how much money to allocate to each bucket. You need to start with a bullet-proof budget, categorizing all of your expenses into one of those four buckets: fixed costs, investments, savings, and guilt-free spending. Money Dials could include things like fitness, convenience, luxury items, travel, self-improvement, and social status.Ĭonscious spending is a great way to enjoy life while still building a financially secure future. By honing in on your Money Dials - the things you really love to spend on - you can prioritize your spending in a way that makes sense for you. Following this logic, you categorize your expenses into essential fixed costs, important investments, savings goals, and - last but not least - guilt-free spending.īy allocating space in your budget for the fun stuff (minus the guilt), you’re more likely to stick to that budget in the first place. Instead, consider trying a conscious spending plan.
The truth is that living a life of constantly telling yourself “no” isn’t sustainable (or enjoyable). Many people assume that effective money management means scrounging, saving, and never enjoying life. Smart money management can help you achieve those objectives. You might also have smaller, more short-term goals, like saving for your dream wedding or buying a luxury car. You likely have some financial goals in your life, whether it’s improving your net worth, paying off your college student loans, or achieving FIRE (financial independence, retire early). How money management helps you meet your financial goals
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