There are so many different apps and methods for managing your money. And although technical means can be efficient, there’s no reason money management can’t be fun and effective. I also use more natural colors like browns and dark greens for categories that include money for nonessential spending. By color coding categories, I train my mind to prioritize different expenses. You can customize it to fit your pay schedule, weekly or monthly bills, and spending. The wonderful thing about a budget binder is that it is made to help YOU and YOUR budget.

A budgeting sheet lets you see how much money you spend on specific areas. For example, you can see how much money you spend eating out. For instance, if your goal is to create a side hustle each month, you can create goals such as updating your resume, taking an online course, or filing for an LLC.By organizing your financial life in your budget binder, you can decide how to use your resources best and ensure that you live below your means. Here are some tips to help you get started using your budget binder: Set Goals Storing receipts in your binder can help you better understand exactly where you’re spending is going. For instance, when you review your grocery receipt, did you use all the groceries you bought? Developing a budget is one of the most significant steps you can take to get out of debt and take control of your finances. Now that you’ve set financial goals and taken a look at how much money you have coming in and going out, you can plan your budget.

Or you can have a new goal each month, such as a no-spend month or a don’t use your credit card month. If you struggle with overspending with credit cards, cash envelopes could help you curb your spending. You can store your cash envelopes in your budget binder for safekeeping. Writing out your goals gives you direction and focus. Having your financial goals written out and placed where you can frequently see them will help your goals feel more obtainable. We often have an “idea” of what we would like to spend in each category, but we’re usually unsure. It’s hard to know if you are overspending or underspending, in any category, without knowing where your money is going.

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No budget binder is complete without the printable templates! There are many FREE budget binder printables that you can use to build out your binder. Sometimes our biggest downfalls can be variable spending areas such as groceries, but this can easily be corrected with your binder. Planning purposes Maybe you overspent on a housing project or didn’t account for a last-minute expense, but your budget got blown again. With a budgeting binder, you can write out a whole section for goals related to financial goals, such as saving money and paying off debt. One way I use my colored pencil is by using vibrant colors for the expense I need to pay attention to. For instance, I may highlight my rent, insurance, and electricity bills in red.