This is also the page where I’ll be using a pencil for writing in the amounts. I’ve changed a few of the budget category headers to fit my needs as well as assigned a highlight color to each category. The page on the left is the monthly budget planner page that will give me an over view of my monthly budget. Now we get into the meat and potatoes of the budget planner. But if monthly budgeting isn’t working for you or you just need to know your worth then it’s time to start thinking and budgeting differently. Conventionally we were taught to setup a budget once a month and then manage it. The budget by paycheck is a simple and easy strategy where you budget each time you get paid. Once you pay that smaller debt off you take the amount you were paying on it and add it to the next lowest debt and so on. When you use this method and you focus all your energy (and funds!) on the smallest debt, while paying minimum on all other debt, you will be able to knock out that debt faster. Essentially with this model you are paying off debt in order of the smallest amount to largest amount. If you struggle to stay on track with your budget because you feel it’s not moving anywhere, than maybe the debt snowball method is for you. You’ve no doubt heard of at least one of these methods so I’ll only briefly go over them below. The other tool is also not new to me, it’s the budget by paycheck method. One method I’ve always used comes from Dave Ramsey and it’s paying off debt using the “debt snowball” method. I’ll also be incorporating two other methodologies to tackle expenses as well as save for the future.
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