At the end of every month Germaine and I sit down and create a new budget for the coming month.
We do what’s called a zero based budget. We assign a purpose to every dollar of our pay check on paper before the month starts. Whether saving, eliminating debt, paying bills or spending, we decide before we’re paid.
We assign a purpose to every dollar on our monthly budget sheet, then update the sheet each week as we’re paid.
There are three major sections to the sheet as you’ll see in the video. Our focus in managing our money is knowing what’s coming in and going out.
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Now, let’s take a look at how Germaine and I use our budget sheet.
Now that you’ve watched my tutorial, let’s talk about budgets. What’s holding you back from starting or sticking with a budget?