I struggled with my weight for years after college. A few years back, I started documenting the food I ate with My Fitness Pal. After just a few days, I knew why I was getting chubby. I was eating too much food! Much more than I realized.
So budgeting is to financial fitness what the food diary is to physical fitness. When I tracked it, I realized how much I was eating, and my diet improved. Similarly, when we track our spending with a written budget, we get a handle on where we may be wasting money.
It was a learning process, but we figured it out through trial and error. Our weekly budget meeting and my nerdy Excel record-keeping pinpointed the leaks in our cash flows.
We were sick of managing our money based on hunches and hope. But more importantly we hated that pit-in-your-stomach feeling that happens when you find there is too much month left at the end of the money.
Budgeting is just telling your money where to go instead of wondering where it went. Just like the food diary, the budget tells our money how it will be consumed. And we do it on paper on purpose each month.Budgeting is telling your money where to go instead of wondering where it went. Click To Tweet
Ramsey Solutions offers an excellent tool called Every Dollar. It’s free and there’s a mobile app. There is also a premium option.
But like I said, I’m a spreadsheet nerd. Get my free MS Excel budget spreadsheet when you subscribe!