Posted in Blog, Personal Inspiration, Podcasts

Developing an Achievable Budget and Change Spending Habits to Relieve Stress and Overwhelm

The Journal

A few weeks ago I wrote about life changing subjects to consider incorporating into ourselves this year in the blog post It is a New Year.  The fourth key action step is developing an achievable budget and to be successful in managing your money.

There are all kinds of budget planning systems out there.  Making it simple is the key.  Some people like budget daily planners, some like spreadsheets to keep track of spending, others like APPS on cell phones.

Let’s make it simple:

Get a pen and small notebook to track daily spending habits it is really easy to track spending.  Everytime you want to purchase something pull out your spending notebook.

Set daily, weekly and monthly goals of how much free money you have to spend.

How much money per month do you make (Income)?

How much per month goes towards bills (Expenses)?   Add up all your bills for the month. example: (Mortgage, Rent, Utilities, Credit Cards etc.)

How much money do you need per month for food, groceries and travel to and from work?  Add up and review what you spent last month.  Is there something you can change in your spending habits to save money?  Do you go out for lunch and dinner everyday?  Do you make your breakfast, lunch and dinner at home?

How much did you spend for other expenses?  Add them all up from last month.  Review your spending habits from last month.  Is there something you are spending your money on that you really don’t need?

How much money do you want to put towards savings?

How much do you have left?   Take your total income and minus your total expenses and savings amount.

Do you have any money left?

Example:

Income (Total pay for the month)             $2,500.00

Expenses (Total bills per month)             – $1,500.00

Total spending per month on groceries, gas in car etc.   – $   300.00

Total to put towards savings account each month        -$     250.00

Total amount left                                                                 +      450.00

$450.00 divided by 31 days = $14.51 per day in spending to make monthly money goal.

If yes, how much?

If no, review what you are spending your money on and what can be cut out.

Once you have your figure.  Each day write down everything you are spending.  At the end of the day review what you spent.  Did you stay at your target amount?

Every time you pull out that notebook and write something down think about it before you spend it.  Is this really helping me achieve my money goals.  Do I really need this $4.00 cappuccino and coffee today?  If I buy that $4.00 coffee I will have $10.52 left for the day.

Knowing how much you have to spend in a day will help you stay within budget.  By writing down everything you spend makes it easy for better decisions with your money.

My challenge for you is to take last month figures and start incorporating your daily budget number into your daily spending habits this year.  If you have not been saving any money this may help you achieve it. ~ Patti

Coaching for Inspiration
Coaching for InspirationwithPatti.
com – TM

 

 

Posted in Blog, Business Inspiration, Inspirational Moments, Leadership Inspiration, Personal Inspiration, Podcasts

It is a New Year!

Fire

Welcome to another new year.  How is this year going to be different from last year and the year’s before?  What changes, challenges, struggles and acknowledgments are you going to face?  Well, we can’t see into the future however we can strive to make things better in our lives.

Here are some life changing subjects to consider incorporating this year:

Putting gratitude into our life and actions

Acknowledging and thanking others

Using daily affirmations

Developing an achievable budget and change spending habits to relieve stress and overwhelm

Work on daily forgiveness practices – Forgiving yourself and others

Practice journaling

Connect with others and build friendships

Remove gossip, negative thoughts and self-doubt from daily life

Enhance personal development: update resume, take a class, join an association in your field, develop a retirement plan, and take up a hobby

Self-Care to improve health and wellness

Questions for self-reflection and action:

Which of these topics above would change your life for the better?

Are you willing to incorporate it?

Are you willing to stick with it and stay focused?  Even if it is hard and you have to make sacrifices?

How would your life change for the better by incorporating this into your life?

How are you going to make this happen?

When are you going to start?

What obstacles may you face and how will you succeed to overcome them?

What would your life look like when you have incorporated this action into your daily life?

Life is full of challenges, obstacles and unknowns however if we have something to strive for daily it gives us purpose.  With purpose we have something to look forward to even when those challenges can be overwhelming.  Feel free to share what you will be incorporating in your life to make this year memorable. ~ Patti 🙂

Coaching for Inspiration
Coaching for InspirationwithPatti.
com – TM

To contact me for a private confidential discovery coaching session.   Fill out the contact form below.   In the comment section specify you would like a free 30 minute discovery session.

Coaching sessions can be conducted in various methods.

  • By Phone
  • By Skype
  • In Person