I live by my calendar on my phone that is linked to my computer and I have a paper copy with the really important, “can’t miss” dates. Apparently, I’m a visual person. Are you like me? Since we’re chained to our calendar, let’s add a new calendar to really organize our lives. Your monthly budget calendar will become an important step when you’re taking control of your finances.
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It’s easy for us to remember our bills but are you tracking EVERYTHING for the month?
When you’re thinking of your monthly budget, I’m sure you can rattle off your due dates for your mortgage/rent, car payment, and insurance. But can you remember that you have a wedding on the 22nd and Jane’s birthday is on the 14th? Do you also add in your monthly girl get together?
All of these expenses are part of your monthly budget.
If it’s an event that will cost you money, you should have it factored into your monthly finances. Having a monthly budget calendar will become the most important tool when planning your budget from your paychecks.
What Is a Budget Calendar?
A budget calendar is basically a calendar that has the sole purpose to keep track of your finances. EVERYTHING…every due date, payment, income, and saving deposits are plugged into your calendar to give you a visual of what’s coming in and going out.
Then in addition to your regular budgeted items, you will add all of your life events, birthdays, weddings, getaways, to avoid that last minute, “Oh $#!*, I forgot” moment.
Why Using a Budget Calendar Matters
Creating a visual with all of your income, expenses, goals, and events can help you easily manage your finances in a way you have never experienced before. Having everything in front of you will help you successfully plan your month.
A monthly budget calendar lets you know when and what your money is needed for. It reminds you to make payments on time and plan for life’s events. Just think of the money you will save in late fees by using this simple budgeting method.
A personal budget calendar also allows you to see where you’re “bill heavy” and possibly make adjustments.
Have too many bills come out at the beginning of the month? Call your lenders and ask to change your due date because you can really do that…seriously!
How To Make a Monthly Budget Calendar
Let’s make a list! You know making lists is my thing and keeps my life straight.
Write down all of your monthly expenses with due dates. This will make it easy to plug this information into your calendar.
If you follow this blog, you know I get on my soapbox about the importance of knowing what monies you have going out. Without this knowledge, you are bound to end up in a bind. Tracking your expenses gives you power over your finances.
For expenses with varying amounts, always round up. For example, if your utility bill runs around $174, budget for $180.
Use your bank statements and bills to make sure you haven’t forgotten anything but it is easy if you have made a mistake to adjust later.
After you have your list completed, sit down with your calendar whether it is a paper calendar or on your phone or computer and plug in all of your information.
It is helpful to add information such as:
- mail by (date)
- automatic withdrawal
- online payment
Don’t forget to add all of your paydays and life events. The more accurate you make your calendar the fewer financial surprises you will have each month.
Once you have all of your information on the calendar, you can organize all of your expenses by paycheck and know exactly how much needs to go out from each paycheck before the month starts.
Maintaining Your Calendar
This is a monthly budget calendar. It is a living document that will need updating each month for life events and expense changes.
Set a monthly reminder to review your calendar and make the upcoming month’s calendar. Once you set this task into your monthly routines, it will become second nature to keep it up.
Planning ahead is a great way to take control of your finances and even work towards your financial goals.
When you learn the proper ways to budget, you will realize that it isn’t hard at all to make and stick to a budget. Keeping a budgeting calendar is a great way to manage your finances and helps you to be a little more prepared for those unplanned financial surprises.