In this final episode of the budgeting workshop, we will complete the remaining steps to implement your budget, allowing you to concentrate on being intentional with your spending.

If you just joined us and would like to start the series from the beginning, here is a quick recap of the episodes: 

• Ep. 40, Part 1 Income and Fixed Expenses
• Ep. 41, Part 2 Variable Expenses
• Ep. 42, Part 3 Analyzing Expenses
• Ep. 43, Part 4 Selecting the Right Goal

I have also created and shared a spreadsheet on the reversed budget methodology, located under the resource links at the bottom of the page. Feel free to download and use it as a resource.

Rules of the Road for Budget Automation

The objective of automating your budget is to have three buckets for your money to flow through.

1. The expenses bucket is for your fixed needs and wants, such as monthly bills, obligations, and commitments that do not vary.
2. The goals bucket is for directing a specific amount of money you identified in part 4 of the series as your primary goal, such as paying off debt or setting up an emergency fund.
3.  The spending bucket comprises your variable needs and wants, including the money left after the expenses and goals. You may consider this your ‘what I can control’ bucket. If this bucket goes below $0, and you are forced to use a credit card to fill in the gap between now and the next pay period, you will know that you have not successfully budgeted. 

 The road may prove rocky at times, but don’t give up! Following this ADHD-friendly method will give you the financial control you’ve been looking for and provide clear, organized boundaries with minimal upkeep to keep you focused on making financial progress and becoming a budgeting pro!

Resource:

Link to my Google Docs Budgeting Spreadsheet (click here)

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