Planning My Finances For A New Year | 2023 budget, spending, and income projection | 🤑 $ goals @ 25

A little late BUT It's time to start planning my 2023 budget and I wanted to walk you through ALL of the steps I take when I tackle this. While things will inevitably change, I've set myself up for success and am ready to be flexible and pivot as needed in the new year.

#googlesheets #paycheckplanning #2023annualbudget

➡️ If you are interested in the 2023 Paycheck Planning Workbook, here are the details:
-- 2 options: "Standard Workbook" (the one I use in this video) and a "Manual Workbook" (does not have any automatic paycheck calculators).

⚠️ DISCLAIMER: I created this spreadsheet specifically for me, and therefore, while it works very well for my specific circumstances, your results may vary. Please read the instructions/watch my walkthrough video for more information on how it works.

🔖 This spreadsheet should NOT replace more precise budgeting of paychecks when you receive them throughout the year. This just allows you to forecast and begin to plan what paychecks will cover what expenses. I still recommend using a budgeting app (like YNAB) or another budgeting spreadsheet to track your actual spending.

My Situation/Context: If you are new to my channel, I'm a 25-year-old woman living at home for pretty cheap ($550/m) while working full time. I paid off $28k in student loans from Feb 2019 to Aug 2020 by using YNAB. Since Fall 2020 have focused on investing and building a strong foundation for F.I. Every two weeks, I budget my paychecks into YNAB on camera, and at the end of every month I review my spending and saving for the month as well as provide a net-worth update! Scattered between those videos are other ones also focused on investing, YNAB, or other personal finance related topics.

Timestamps:
0:00 - intro
2:25 - net paycheck: 26 vs 27% 401k
8:23 - setting up my budget forecast tab
11:18 - forecasting with 26% going to 401k
12:35 - forecasting with 27% going to 401k
15:05 - estimating a raise
16:50 - updating to forecast for the year
20:00 - guesstimating a bonus
22:15 - overview of the budgeting forecast
22:45 - spending tab & summary page
25:20 - outro

[franny]

Great content; its entertaining, and brings perspective. I appreciate your willingness to be transparent with your real numbers.

[minimalmiss]

I will be getting this workbook this year👏🏽

[TheTrueHardcorefrk]

Why traditional instead of a Roth 401k?

[BibleChatAi]

Hey how do you recommend we add one time bonus payments to the gross details?