Growing up my parents did not have any type of system when it came to paying bills and saving. I noticed that they pretty much winged it. My Dad worked a lot and my Mom wasn't the Homemaker type. She kept a clean home and cooked. Finances weren't her thing at all. My Dad pretty much worked from sunup to sundown.
Which
felt like seven days a week. He was exhausted when he did have his free time.
As a child, I developed my own savings habits. I would babysit and pretty much save all of the money that came my way. I remember going to Bank of America with my Mom and opening a custodial account. I had my bank book and was super excited to start my journey. As an adult, I've had not so much great moments with debt. From racking up a ton of bills to spending money I didn't have on WANTS. I remember working and going to the bank to deposit my money and every time I would make a deposit my account would be overdrawn. I didn't track my spending and bill pay and the bank was making a ton of money off of me from overdraft fees. This was way before the time of online banking and mobile deposits. I clearly had no idea what I was doing and at times would find myself wondering what happened to the young lady that took pride of her savings habits? I quickly got it together when I realized that I wanted to purchase my first house at the age of twenty-one. I worked on my wants/ needs and would not take any extravagant trips because I knew I couldn't afford it. Trust me getting to the road I'm on wasn't perfect. I've learned a lot and still have a lot to learn. Fast forward to today and I am so proud of myself for taking the step to creating a Budget Binder. For the last couple of years, I've used a folder to house all of our bills and a bill pay form. I love this system. However, I wanted a place that would include everything that's needed for my family. At some point, I would like to create a Home Management Binder. However, for now, I'm happy that I took the initiative needed to start on my debt free journey. I created a video sharing the items I decided to use and why. It doesn't take much to create a Budget Binder. I pretty much used everything that we had on hand and decided to create and use printable I found online. I will keep you guys updated on my journey. Thanks for taking the time to read this
14 comments
This is a smart idea. I don't have one, but I might get one just to keep track of everything. We're home owners now so we have more bills to pay so this would come in handy.
ReplyDeleteI definitely need me a budget planner! My hubby and I are trying to snowball our debt right now and this would be really helpful!
ReplyDeleteI don't have one yet, but I'm planning to get one. Thanks for your tips!!
ReplyDeleteThis is really helpful information! I am money-illiterate and I often turn to other people to help me figure out finance related stuff!
ReplyDeleteWow sounds a good idea. Right now I have a box storage for my receipts, and declutering it every end of the month. I will consider having a binder :)
ReplyDeleteThis is such a great idea. I definitely need something like this, as we need to get better with budgeting because we are saving for a house.
ReplyDeleteThis is a great idea! I don't have a budget binder, but I do have a spreadsheet that I use to keep up with my budget.
ReplyDeleteI used to have a planner. Great way to know where your money is truly going!!
ReplyDeleteWe have very similar backgrounds. I remember a lot of hectic times, I love the budget binder idea. Keeps everything in place and on track!
ReplyDeleteI have one. This is where I log my travel plans and other to-dos. I normally forget my things to accomplish that's why i need to write it down.
ReplyDeleteSuch a great idea! I need to try this that way I stay more organized and actually follow a budget!!
ReplyDeleteExcellent idea. I need to do this. What a great way to get serious and organized.
ReplyDeleteI always track my expenses monthly .It's the best way to control money flow. It's great you wanted to buy a home at 21 .Very ambitious
ReplyDeleteWhat a smart idea to manage budget! I used MS Excel or Google spreadsheet for managing my expenses.
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I would love to read your thoughts... Thanks for sharing Happy comments :).
~Mrs. Delightful