Hello fellow subscribers and newcomers welcome to my blog!! Today's topic will be about how you can use the basic form I provide to manage your money better.
Alright, let's just get into the article. So, how many of you are college students who are most likely broke and are figuring out how to balance work and school and party, right? Well, I have created a form and it's a pretty basic one that's not hard to use and it's called a budget form. Yeah yeah I know you're saying, " A budget form, why didn't you make something easier huh? " But you know what I'm going to say to you? Do YOU have a budget form that you use, or otherwise why are you looking up how to be an adult, or how to manage your money better? That's what today is about. I'm going to help you out and teach you the basics of budgeting. Now, the first step in managing your money is knowing first of all, where your money goes and how much of it you're spending. This basic budget will go over the 8 basic sections of your life that you spend or save money on. Those include charity, savings, housing, utilities, food, clothing, transportation, and personal. These will be the basic necessities you need to survive.
The first section, is charity. Now, this one isn't as necessary as the other ones, but I put it in here because there are people who go to church and donate their money or people who donate to charity every month. So, in this you just combine all kinds of donations in the line next to Donations and total it all up at the bottom.
The next section is savings. This has two sections available, one is called savings, which is a little more official. Savings Account is an amount of money that you deposit in a bank account, sort of like an emergency fund that you keep there for big important purchases, not just a want purchase. The next line in this section is other. This is an unofficial savings bank, like a penny jar or cookie jar or somewhere along those lines. The next thing you're going to do is total both of those numbers and fill it in at the total section.
The 3rd section is Housing. In my YouTube Video, I explain all of the kinds of housing payments there are, so I will briefly go over it. First mortgage and second is like a payment if you've bought a house, and rent is a monthly payment for renting a property. Real Estate taxes are amounts of money you save pre-tax for those property taxes if you own property. Repairs and maintenance are along the same line. You save money to pay repairs if you need them.
The 4th and most basic are utilities. This goes for college students renting an apartment or house, adults doing the same. Your basic ones like cable phone electricity, and gas are included. That's just how much you pay every month for those things.
The next is food which is the same thing as before. Clothing too. Next is transportation, which is for anyone because we all have some type of transportation to take to school or work. First up is car payments, which is self-explanatory, then gas and oil dues per month, then how much you save for repairs and tires, then how much you pay for auto insurance.
The last section of this form is Personal, which includes your 3 types of insurance : life, health, and disability. Then child care and entertainment, like tv subscriptions. The last one is other which I would as miscellaneous like skin or hair care. That basically completes your budget form and if you want me to do it with you step by step then you can watch my video which is on my Youtube icon on the home page.
Thank you for reading this!
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