Part of having a budget is making sure that you are sticking to it and checking that your payments have come out of your account is a vital part of this.
When I use my spreadsheet, I highlight the upcoming bills in a darkish orange and then change it to a pale orange once they have come out of my account. I also keep track of the date I checked and the balance on my account just in case some odd payment comes out and you miss it.
Here is an example of what I do. As you can see, in this example, I checked the bank today and then wrote the balance. Then, starting from my zero balance, went through what had come out of the account and highlighted them accordingly. You can see at a glance that Debt 3 and 4 and my mobile phone bill are still due, along with my ‘Stuff’ savings, which I don’t transfer until Thursday, just in case.
I also draw out cash for my fuel and shopping and I do that on a Friday (pay day).
You will also notice that the income section has increased. I have put an amount more than the original estimate of £200 and added the £2.36 to the ‘Stuff’ balance and £10 to the Emergency Fund.
So as you can see, the budget will change each week as incomes are confirmed but with this system, it is so easy to update them and I still know where every penny will go.
If you need to double check anything, go back to Part 1 and have a quick review.
Off now to plan my meals for the next week, I’ll update you soon how I get on.