Financial Workbook for Household Budgeting
Budgeting for the household can all be done on a computer and you can also make those pretty graphs showing the allocation of money for where it's intended to go or has gone.
However the reason I prefer a Financial Workbook is because there is something about actually writing your figures on paper, when you write something down it becomes very personal to you. Why not get yourself a financial workbook for managing your household budget? With your figures written down verses on the computer screen, it will keep your mind focused on your intended goals and dreams, whether this new budget is for debt reduction or future savings and investments. Another good idea is to make a copy of your new budget and post it on the inside of a cabinet door that you use often.
Now that you have this financial workbook in front of you, show your total dollars of income for the month and where every dollar is going. Make a list of your total household and personal expenses. Are you surprised that your expenses are more than your income? This is where you will need to start cutting corners and eliminate anything that isn't a necessity in your life for a period of time. Usually the personal and entertainment category will be the most adjusted columns in this financial workbook. The joy of watching yourself meet these goals and dreams become a reality in your life will be worth all the effort and sacrifice you and your spouse put forth to making this budget work for you.
However the reason I prefer a Financial Workbook is because there is something about actually writing your figures on paper, when you write something down it becomes very personal to you. Why not get yourself a financial workbook for managing your household budget? With your figures written down verses on the computer screen, it will keep your mind focused on your intended goals and dreams, whether this new budget is for debt reduction or future savings and investments. Another good idea is to make a copy of your new budget and post it on the inside of a cabinet door that you use often.
Now that you have this financial workbook in front of you, show your total dollars of income for the month and where every dollar is going. Make a list of your total household and personal expenses. Are you surprised that your expenses are more than your income? This is where you will need to start cutting corners and eliminate anything that isn't a necessity in your life for a period of time. Usually the personal and entertainment category will be the most adjusted columns in this financial workbook. The joy of watching yourself meet these goals and dreams become a reality in your life will be worth all the effort and sacrifice you and your spouse put forth to making this budget work for you.
5 Comments:
This is a great tip. I will have to look into this because I've been doing our financial stuff online. Anyway, there's a book out that also helped me which I thought I'd share called Women, Get Answers About Your Money by Carolyn Castleberry, which is so good at defining all the different aspects of our financial lives.
ableknife,
Thanks so much for your visit and comment. Sharing what you find helpful is what this blog is all about. I'll have to look for that book next time I'm in the library.
I like this idea, and often write about my financial thoughts and schemes in my Moleskine. There's definitely something to be said for writing by hand.
Jennifer,
I'm so glad that you can see the benefit of writing by hand, it really works.
I look forward to hearing back from you as to how a financial workbook made a difference in your household budget and financial goals. Sharing what works for you is important for guiding others down the road to financial freedom.
: )
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