HOW TO BUDGET FOR 2024! how I track + plan my spending (budgeting for beginners!) | morgan yates

(I actually got this template from my best friend Caroline whom some of you guys know, so thank you to her!)

CAMERA GEAR:

TIME STAMPS:
0:00 Welcome to Budgeting 101! What we're going through in this video...
1:07 Introducing my budget spreadsheet (& downloadable template)
2:01 Master page tracking / understanding where your salary is going & budgeting terminology
3:00 How to create realistic savings goals
3:55 How I track my ongoing savings categories
5:35 Introducing my monthly spending spreadsheet
5:48 Calculating your fixed costs
6:48 Determining your discretionary spending amount & creating category budgets
7:50 How I track & categorize each purchase using my budget template
9:51 Estimating future spending to plan for the month
10:39 My budgeting tips to get the most out of it
11:11 How I separate purchases from savings vs. from monthly budget
12:14 Additional financial tools we use: shared income/savings spreadsheet
12:56 Benefits of tracking monthly utility costs over time
13:27 How I make informed financial decisions through detailed tracking
14:24 Looking ahead to 2024...

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[ashleypowelllll]

Love that you are helping other women with their financial literacy. You break everything down so realistic and easy to understand, thanks for sharing!

[OzleyASMR]

The way you speak is the PERFECT speed and it was all so easy to follow THANK YOU

[MadelineDellaMora]

So many fantastic tips! I also love how you use this as a relationship building activity. Cheers to 2024 being our best budgeted year yet! 🤞🏻🥂

[jessicabriante]

Yes the budget queen is here to stay!!! I've been watching your budgeting videos since you started and I'm so excited to make a copy of this sheet and start my own.

I hope you both had a great Christmas with loved ones and have an even better New Year! I can't wait for your one second a day.

[geovanellytorres]

Thank you for this ! I have been using a journal to "check off" my payments but willing to switch things up. As a teacher that only gets paid once a month I am confident this will help me immensely. Thank you! ❤

[sweetpotato]

This is going to be so helpful - thank you!!

[erikamaleski]

I spend way too much time in excel so you’ll have to excuse me - but don’t forget you can link those hard coded items in your formulas so you don’t have to update those things! For example when you updated “gifts” to “business” you could have put G22 (or clicked that cell). This way if you were to change that category from business to let’s say shopping, you wouldn’t have to touch that formula again. Sorry - had to mention it! 😅

[giselleaylinmoreno]

I just watched your video and it's very easy to understand, thank you! I'm currently working on my budget planning and this is SO helpful, I used to do it in another template and it was so confusing. Starting 2024 with the right feet!

[vaiishxo]

going to start budgeting for the new year and start doing some savings for rainy days and your budgeting videos are always helpful!! happy new year to both of you ♥️

[jessicacontreras]

I love this!! I was looking at how to budget for the new year. I love you and your channel so much. Thank you for sharing your knowledge ❤

[CiaraLynn]

This was exactly what I was looking for and you explained it how I would have! Thank you

[meltom]

can't wait to start using this! 👏

[travagent]

Thanks so much for this. I’ve tried other spreadsheets and never got through them. This worked!

[yearoldnewdriver]

I have been saving to budget for a used SUV since February. This is going to be a year for saving and try to be more frugal for me. I am 43.

[yesyes]

My money literally disappears. One minute I have money, and then there’s no money. I’m grateful enough not to live paycheck to paycheck, but that has somehow made me more relaxed. In a bad way.

[EnglishMathTutor]

Hoping to start budgeting this year and work toward being debt-free.

[allisonpage]

If you like having multiple savings buckets under one account I have rly enjoyed the features ally bank offers for it! You can automatically distribute percentages of each deposit into designated categories/savings goals and it’s so easy to customize and move things around!!

[sincerelyZaYahairaa]

I'm gonna try out this budgeting hack and see how far it takes me. I'm a server and I do door dash occasionally but I spend money recklessly and that's a habit i want to break as I JUST turned 18 and am ready to start my life by first taking my finances seriously. If there is any more tips to be left for a young woman like myself then PLEASE DROP TIPS💚

[sandys]

Not sure this is available everywhere but my utility company allows you to pay an average monthly rate. So for monthly budgeting it is easier to pay the same each month rather than have the high and low monthly swings. It can be really helpful for balancing a budget.

[juliaa]

Super helpful - thank you! For the Google Sheets you can go to file --> make a copy to automatically copy over all the tabs to your own sheet :)