What do you and Amazon have in common?

The need to budget.

Before we dive into how to build a budget, let’s talk about why everyone needs one.

How many times have you heard about young pro athletes filing for bankruptcy as soon as their career ends and their extravagant salary dries up? Or people who win the lottery only to be back in debt a few years later?

Your household is like a small business. You need to make sure that your income is higher than your expenses in order to stay out of the red and make a profit

While some people fear that budgeting will take away their freedom, there is nothing more freeing than knowing that you can afford your lifestyle.

Here are 5 steps that will help you build a budget.

In our next post, we will share our very own downloadable budget tracker along with instructions on how to use it.

What are the hardest parts of budgeting for you? What are you budgeting toward?

3 responses to “What do you and Amazon have in common?”

  1. Devra Ariel Avatar
    Devra Ariel

    For years we talked about making a budget, but we never did. Until we did. At first, it was just a way to see where our money was going, to look at the monthly outlay and really understand things. Now, four years down the line, we can really plan (well, with the hope that our jobs remain secure). Do we budget perfectly? Definitely not. We exceed our planned expenses sometimes, and we (more rarely) budget too much other times. Each end-of-year is an opportunity to look at that and adjust for the coming year.
    My son uses a budgeting app that collects and categorizes things for him. He pays a fee for use and it does have access to his financial accounts (credit card and bank). I’m more old fashioned and I use a Google sheet to keep track.


  2. Nanette Kleinman Avatar
    Nanette Kleinman

    I dislike balancing a checkbook, paying bills and the effort of making a budget. We pay all of our bills with a credit card if possible. This puts everything in one place. You can then download a comma separated spreadsheet from your credit card account online and the data in this spreadsheet can be easily sorted, sliced and diced to your heart’s content to see where your money is going. Some of our regular payments are EFT from our bank account. I never write checks if I can help it, and when I must, I go into my online bank account and rename them appropriately. The bank also permits the downloading of a spreadsheet. With a little finesse, the two spreadsheets can be combined into one. Now I have a single spreadsheet that tracks all our income and outgo and can be analyzed in any way I wish.


    1. devraariel Avatar

      I use the spreadsheet options for both my cc and my bank account–I just take it one step further to put it all in one place, add notes, and so forth. Furthermore, since I now do HAVE a budget, I can compare a monthly projected expense or income to the actual. I can prorate an annual cost into cost per month.


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