Faded Bluebird
budget binder

Budget Binder – A Savvy Financial Tool

January 5, 2017 0 Comments

Using a budget binder makes me happy!  I love organizing, and that includes my money.  For the past 4 years, as a State Employee, I have taken a hit to my personal budget.  Cut backs, Furloughs and increases in medical insurance without increases in my benefit allowance, all add up to less money every year.  And since we are a single income household…..that hurts! But after I stopped screaming, I realized……. we’re going to be okay.  I have a reliable, comfortable monthly budget in a totally stylish budget binder.  I’m  not happy about having less income, but I still live on the Sunny Side of my personal finances.

budget binder

The Sunny Side Of A Budget Binder

There are so many ways of tracking your monthly budget. I’m aware that most banks provide some kind of free on-line budget services, but I’m a paper person.  I like paper worksheets that let me check off my bills as I pay them. A worksheet that helps me keep track of my dwindling credit card balance, and growing savings accounts.

As I pay each bill, I put my copy in an envelope.  And at the end of each month, I simply fold my monthly worksheets, add them to the envelope, and I’m in organized heaven!

I use a Day Runner, but I recently bought a friend of mine the cutest budget binder EVER from Dollar General for $2!  But, if you’re looking for something cheaper, check out these two great examples of budget sheets from My Frugal Home and A Mom’s Take. Budget binders can be stylish and fun!

budget binder

A Mom’s Take

Showing Your Money Who’s Boss

Using a budget binder is taking back control of your money. It’s a little like parenting, you have to be involved, keep your eyes on it, know what it’s up to, set limits and sometimes play hard ball. All that is easier to do if you can glance at a list, immediately see what it’s doing, where it’s going and if it needs to be put in time out.

Having a monthly budget will help you to save for the things you want, and prepare for the things that might hit you later. It allows you to spread out big payments like your 6 month car insurance payment by setting it aside each month.  It’s peace of mind when the dryer breaks down, or I need a new set of tires. My money works for me while I’m working for it because I’ve organized it.

budget binderTrim The Money Fat

The budget binder allows you to keep it all in one place. To make sure that you have paid all your bills in full and on time.  To ensure that you’ve paid yourself first via savings accounts before you decide to spend money. It can help you keep track of your incidental spending too!  Ever wonder how much you spend in a month eating out or paying a babysitter each month? Use a budget binder! I also keep the phone & account numbers for my utilities, credit card and mortgage in the binder.   I can keep track of semi-annual payments like my car insurance on the calendar provided, and my list of prioritized “wants” like a new fridge.

It’s exceptionally helpful in keeping track of paying down or paying off debt!  One binder doesn’t fit all, you will need to tweak it to fit your needs. Being budget savvy is the best resolution you can make in 2017. It’s never too late to start the process of money recovery.

budget binder

Binders Are Magical

We are all wearing our financial belts a little tighter, but I promise you that if you take care of your money, it will go a long way towards taking care of you later.  It means never having to come home with your water turned off because your husband didn’t pay the bill because he thought you did.  Or getting a late payment fee, or interest added to next month’s credit card bill!  It’s being proactive instead of  reactive. No more financially flying by the seat of your pants, (which often causes extreme wedgies by the way).

And if you’re looking for more proof that being organized is the way to go, read How Being Organized Can Save You Money.  And don’t forget to check out my new FBB 4-P Monthly Calendar you’ll find lots of tips for staying organized and ideas for saving your money every month.

A New Year

Now that you’re savvy to budget binders, I hope that I’ve inspired you to change your New Year’s resolution from learning the latest dance craze to wrangling your budget.  You’re far less likely to cause permanent physical injury my way.

What are your financial goals this year?  Drop me a comment and let me know!

Happy Financial New Year!

-Chris

 

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