How to Make a Budget When You Don't Know Where to Start | Budgeting for Beginners

#beginnerbudget #trackyourspending #moneygoals

Here is the video from Jordan Page at Fun Cheap or Free I mentioned in this video...

Well hello there! My name is Jennifer! Follow along on our journey to paying off our mortgage by 2024. Along the way I will share my dumbest money mistakes, how we save money and our progress towards our goals. I hope that my journey will provide inspiration towards your own pursuit of financial independence.

Want to get in touch with me...


Old school snail mail to:
13663 Providence Rd.
PMB# 116
Weddington, NC 28104

[patwagner]

Makes sense. I think we need to do something like this because our budget is changing due to a major shift. We need to make sure we live within our means. Thank you, Jennifer.

[teresateresa]

I use a spreadsheet.
Each column gets a month, Jan - Dec
Broken into three sections..
A row for 1st paycheck
A row for second pay check
A row for other income
Total row
Then section for fixed expenses
Mortgage/rent
Energy
Phone
Cable
So on
Total fixed
Last section other
Groceries
Gas
Entertainment
Clothes
Vet
Other
Total
Then a grand total of income section - fixed section - other section = total left over for savings
The nice thing about this, you have a running total for the year and you see everything at a glance.

[angieb]

Hey thx for your videos.

Quick thought-

The best part about Jordan’s envelope system is you can only borrow left to right or right to left. So if you spent less in groceries but needed a bit more in your other, you can only take it from that week. Not next week. This is why her envelope system is so great.

So- Not taking money from next week is key
Otherwise so many end up with no money left in their envelope the last week of the month.

Otherwise thx for this video. As usual I enjoy your content.

[Thebraddockhome]

Thank you for this video. My favorite part was how you explained your “other” category in your budget. I was getting frustrated making a couple of categories like kids, house, etc and assigning a limit on a whim. I can’t predict too much those random expenses so having an over arching category sounds like a good idea. Simple like you said!

[lauraweinbrenner]

I love that you went step by step in forming a budget. I also appreciate you adding in an "other" category. I feel like so many times budgets I've seen don't include this category and don't allow for ANY spending that is just a "want" or "just because". I think that sometimes when there isn't room included in a budget for "just because" money, it makes it extremely hard to follow. I know I have the best intentions of sticking to a budget, but as a mom, things come up and I need to quickly buy something for my kids or things, in general, come up. I love that this can be part of the budget so it doesn't feel as restrictive. Obviously, you have to be mindful of how much you're spending in the "just because" category or you defeat the purpose. I'm curious about how you derive the amount you put in the "other" and how much you determine should be saved. Many others say all the extra should be saved, but again, I think there needs to be an "other/just because" category, but I never can figure out how much that should be and the amount to put towards savings.

Thank you for your candidness and "realness". I love watching your videos!

[kathyirvine]

Thank you Jennifer this makes so much sense maybe now I can get on a budget. You make this so simple. I need to live below my means. This is great! Thanks Again!!!

[loristevens]

Thank you for taking time out to make your videos I truly appreciate it

[Joy-zplv]

Thank you for this! I have all the comming back expenses on autopay. I added all of them and what I want to safe the rest of my paycheck is for spending. So I know exactely what I have to budget with. That is the easiest way I could come up with. I hope that makes sense. =) Love from Germany ♥

[Christy]

So Jennifer the tires and vet visit would come out of the ‘Other’ category? Thanks for taking the time to share this information. You’re the best. 😊

[suefrack]

Great video! I like how you explained everything step by step. That's what I needed. Thank you very much.👍❤️🐾

[tonygirl]

Hey Jen. Great video. Tell your little one hi…is she still loving her pillowcase😊