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002 | The Dreaded and Beloved Monthly Budget
Episode #002: The Dreaded and Beloved Monthly Budget
Scott and Lance dive into some headlines, explore the topic of monthly budgeting and why it is important, and answer some listener questions.
Content: What is a budget? Why is it important? How should we budget and track our budget? Headline of the week: https://www.google.com/amp/s/www.cnbc.com/amp/2020/05/29/us-savings-rate-hits-record-33percent-as-coronavirus-causes-americans-to-stockpile-cash-curb-spending.html
Hops Showdown: Holy City Brewing (North Charleston, SC) takes on Inverness Brewery (Monkton, MD)
Free tools to help you manage your budget:
Free Dollars and Hops Google Spreadsheet Template to budget and track your monthly expenses:
https://docs.google.com/spreadsheets/d/13DrY7fq9jlQ5k1hMItNK97P0LGR5YjOaXLERjKpXaBA/edit?usp=sharing
Instructions for using free monthly budget spreadsheet: (Must have a google account)
Click the link above - it will open the monthly budget spreadsheet
Click the top left corner of the spreadsheet (to the left of column A and above Row 1) to select all. Hold down control and press “C” to copy to clipboard
Open a new google sheet from your personal account.
Sign into gmail account
Click google apps button in the top right hand corner, select drive
Select New in the top left, select sheet
While in the new spreadsheet, click cell A1 and hold down control and press “V.”
The budget spreadsheet (and all of it’s formulas) will now be in your own spreadsheet. Be sure to rename the spreadsheet so it’s easily identifiable.
Edit the sheet to include your personal budget items and use it to identify areas you can improve upon.
Track your budget on a monthly basis to ensure spending is under control. End goal: drop as much money as possible to the bottom (leftover) to save and/or invest at the end of the month.
Other free tools discussed for tracking your monthly budget:
www.mint.com
www.personalcapital.com
Paid tools for tracking your monthly budget:
https://www.youneedabudget.com/
https://debitandcredit.app/ (In app purchases)
Action Step:
Do you have a budget? If not, use one of our recommended tools to create a household budget and track your expenses for a month, or 2, or even 3 to get an idea of how much you spend in each of your categories.
The act of budgeting is a crucial step to helping reduce debt and increase savings, ultimately allowing you to optimize your financial future.
Want your question answered on the podcast?
Email us at [email protected]
View all episodes
By Dollars and Hops
5
2222 ratings
Episode #002: The Dreaded and Beloved Monthly Budget
Scott and Lance dive into some headlines, explore the topic of monthly budgeting and why it is important, and answer some listener questions.
Content: What is a budget? Why is it important? How should we budget and track our budget? Headline of the week: https://www.google.com/amp/s/www.cnbc.com/amp/2020/05/29/us-savings-rate-hits-record-33percent-as-coronavirus-causes-americans-to-stockpile-cash-curb-spending.html
Hops Showdown: Holy City Brewing (North Charleston, SC) takes on Inverness Brewery (Monkton, MD)
Free tools to help you manage your budget:
Free Dollars and Hops Google Spreadsheet Template to budget and track your monthly expenses:
https://docs.google.com/spreadsheets/d/13DrY7fq9jlQ5k1hMItNK97P0LGR5YjOaXLERjKpXaBA/edit?usp=sharing
Instructions for using free monthly budget spreadsheet: (Must have a google account)
Click the link above - it will open the monthly budget spreadsheet
Click the top left corner of the spreadsheet (to the left of column A and above Row 1) to select all. Hold down control and press “C” to copy to clipboard
Open a new google sheet from your personal account.
Sign into gmail account
Click google apps button in the top right hand corner, select drive
Select New in the top left, select sheet
While in the new spreadsheet, click cell A1 and hold down control and press “V.”
The budget spreadsheet (and all of it’s formulas) will now be in your own spreadsheet. Be sure to rename the spreadsheet so it’s easily identifiable.
Edit the sheet to include your personal budget items and use it to identify areas you can improve upon.
Track your budget on a monthly basis to ensure spending is under control. End goal: drop as much money as possible to the bottom (leftover) to save and/or invest at the end of the month.
Other free tools discussed for tracking your monthly budget:
www.mint.com
www.personalcapital.com
Paid tools for tracking your monthly budget:
https://www.youneedabudget.com/
https://debitandcredit.app/ (In app purchases)
Action Step:
Do you have a budget? If not, use one of our recommended tools to create a household budget and track your expenses for a month, or 2, or even 3 to get an idea of how much you spend in each of your categories.
The act of budgeting is a crucial step to helping reduce debt and increase savings, ultimately allowing you to optimize your financial future.
Want your question answered on the podcast?
Email us at [email protected]