Budget Board - Kinda Like A Vision Board
Budgets are never fun or easy, but a budget board might just be the answer for you!
To the left you can see my current budget board. Looks a little crazy but I can say this is the simplest method for figuring out when we need to pay our standard or reoccurring expenses. So let's break this down step by step.
The first thing you will want to do is find a space or create a space where you can work on your board. I had an end roll from our local newspaper, this was a cost of $1, and attached it to the back of my office door with tape. You can create your board out of anything and it can be as simple or as fancy as you want.
Second, you will want to record all of your paydays. Ours are indicated here in pink. I just wrote the date on each page flag and then stuck them to the board. For example, our paychecks come in bi-weekly, there for some months have 3 paydays and the rest have 2.
Next is the not so fun part. You will need to write down all of your reoccurring
expenses for each month along with the due date. And if you want to get fancy, you can even print them out! I will be doing another post on how to accomplish this.
Once you get everything written or printed out, you will then begin with placement. You simply find the appropriate paycheck to place each expense under. The great thing about having them on a Post-It or page flag is that you can move them around if need be.
You can also color code your expenses. For example here in the image you can see the yellow and green expenses. The yellow is our standard expenses and the green is our oldest sons expenses (he gives us the money for his bills, as he has no debit card, and that is a story for another time). It gives us a quick and easy view for everything that is due to be paid out of each paycheck.
The great thing about this system is that I can add in expenses that are not regular or reoccurring, i.e. dental, doctor, and I can find the appropriate paycheck in which the payment needs to come from.
Don't forget to also indicate deposits for savings! This is important to keep track of because you need to pay yourself too!
Budgeting can be stressful and frustrating, but it can be a little less with this system.