We are in a series where I’m sharing my favorite tips and strategies with you that help me to be more purposeful in my life, with my family, and in our household. Purposeful Planning is less about planners and planning systems and more about finding intentional, practical ways to help you do what you do better. It comes from all of the hats we wear as moms, wives, and Christian women. I’ve realized that I do actually have a lot of systems and routines that have come to work really well for me, and I thought maybe it would be helpful to share those things with you – because who knows? They might work really well for you too! So here we are with My Purposeful Planning Tips & Strategies!
This tip would be in the Financial Category… After struggling with another budgeting system and it not working for me the way I wanted to, I decided to just create my own. I’m so glad that I did.
I’ve found a Budgeting System that is working great for us, so I thought I might share it with you in case it might be helpful to you too!
First, I created a “Bill Pay Checklist”, and I use one of these sheets per pay period.
1. List all of your bills that are due each month, along with their average amounts and due dates. (You’ll need to update this as soon as you find out the exact amount each month.)
2. Divide up this list based on when your bills and payments are due each month.
3. Make up a “Pay Period Budget” for each paycheck your family receives. Decide where the money from each check will go before you even spend it.
4. It may be smart to call companies and ask about changing due dates for your bills to make them work better for you.
Currently, we get paid twice per month so I use two of these each month.
The second page of this system is “The Expense Tracker”. What I love about this page is that it also allows me to note the amount of money left in each budget category – kind of like you would do for cash envelopes, although we don’t personally use cash for our spending at this time. This page will show you –not where your money is supposed to go– but where it actually went. It would even be helpful to highlight the various categories to see how much you are spending in each. I’ve done this from time to time because it really helps us to see any problem areas or where we might need to tighten up a little bit.