Budgeting
Having a budget and being aware of where and how much money you have will help you lose that “starving artist” story and start living your abundantly thriving life. There are many ways to create a budget, but a simple way to get started is to use the 50/30/20 rule. This means that 50% of your income is allotted for your monthly needs such as rent, transportation, other living expenses, and bills. The 30% bracket is for fun stuff like meals out with friends and family, gifts, and travel expenses. The remaining 20% would be for savings and investments. Do not stress if you aren’t able to set up these buckets perfectly; you can always reassess them. The key is to be aware of how you spend your money and where it is coming from. Budgeting needs to be done on a consistent basis whether that's daily, weekly, or monthly. You can create a spreadsheet using Excel to keep track more easily.
Questions To Think About:
List what will be in your spreadsheet for your 50% bucket (rent, bills, etc.):
List what will be in your spreadsheet for your 30% bucket (fun stuff):
List what will be in your spreadsheet for your 20% bucket (savings and investments):
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