Welcome to LAAB’s budgeting page. Here you will find some of LAAB’s best articles on this dreadful (pretend you like it) subject. By engaging in these articles and utilizing some of the recommended resources, you will position yourself to stop living a paycheck to paycheck cycle, to get out of debt, and to build your savings. So do yourself a favor, pick up a pen, notebook, and a little bit of courage so you can tackle your finances. You do want to have a life and a budget, right?
Before you get started on any budget, you need to know where you’re spending your money. You need to know how much you’re currently saving, how much debt you have, and a general picture of your financial health. I’ve tried several tools and none of them give you a comprehensive view of these things except Personal Capital.
With Personal Capital, you link all of your accounts (credit cards, loans, mortgages, retirement, student loans, bank accounts savings accounts, etc) and the tool calculates your net worth. The most popular feature is the expense overview which allows you to see where you’re spending your money.
If you’re spending too much on take-out, you’ll know once you link up your accounts. I recommend starting here so you will know what you have to work with. Then you can proceed with the following articles and get to the hard stuff.
I created this article for beginners who want a simple, cut, and dry method to budgeting. This budget is for people like me who can’t deal with a bunch of spreadsheets and accounting for every single penny that hits their bank account. Now don’t get me wrong – there’s nothing with this method. It’s just not for all of us and that’s okay. You have to budget based on your personality and situation, not everyone else.
Just in case my little quick budgeting method doesn’t work out for you, here is a detailed article explaining how to create a budget that won’t fail. In this article I provide a brief overview of several other budgeting methods along with resources. There is the 50/30/20 budget, zero sum budget, and bi-weekly budget to name a few. The key to budgeting is figuring out a system that works for you. Once you do that, you’re in the money! Literally.
This was written for all you folks who swear you don’t want to budget because it means you can’t live your life on your own terms. Oh, it’s quite the opposite! See, the real deal is that you can have a life – and perhaps an even better life if you’re controlling your money. No one likes to be controlled by anything and if you don’t have a budget, you’re allowing your money to control you. If you want to live life on your own terms and fulfill your dreams, get on a budget and watch the magic.
This article is perfect for those who declare budgets don’t work. They don’t work for several reasons, and I’m going in on nine of the reasons why your budget has failed or is currently failing to provide you with the results you’re seeking. Once you set aside your pride and identify a few of the things you may be doing wrong, you’ll be able to modify any behaviors or habits that are keeping you from saving, paying down debt, and properly managing your expenses.
Get a copy of a free budget spreadsheet that will help you keep track of your income and your monthly expenses. It’s free to download and a easy to use google spreadsheet.
Click here for more articles on budgeting and money management. Also, check this page often. It’s a work in progress!