Having a budgeting system that works is the one thing that will allow you to finally conquer your finances.
Most of us that have found ourselves in financial difficulty in some way or another has been because we failed to analyze our finances and make good money choices.
Budgeting can seem boring at first but if you want to achieve financial freedom then you need to put the work in for that to happen.
You have to get used to budgeting and the more you do it the quicker and the better you will get at it.
You will soon come to realize that having a budgeting workbook is the one thing that you truly need if you want to be financially free.
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Why was The Faith Beyond Finance Budget Workbook created?
Honestly, I was tired of trying to make my money work for me each month and failing miserably. I was on baby number 3 and wasn’t able to work.
Our family was living on one income and things were tough. We were completely maxed out EVERYWHERE!
Something in me shifted one day and I was FED UP of all the debt that I had around me.
I felt like I was living a restricted lifestyle, a lifestyle that I didn’t want to live. Let’s just say that it was no fun at all!
I set myself on a mission to get out of debt and start planning for mine and my family’s future.
The more I worked at it the more I was able to see where I was going wrong. I soon realized that if I wanted to see different results I had to do something differently.
I knew many other families that were in a similar situation to me and we were all struggling.
I’d come across lots of different ways to budget but none of them ever worked for me, they just weren’t flexible enough so I decided to create my own system that would be flexible enough for anyone to use.
That’s when I created the budgeting workbook that would help me and others like me on their journey to finally taking control of their money.
Just because you are a one income family does not mean that you have to struggle from paycheck to paycheck.
You can learn to manage the money that you have.
What’s your motivation?
If you want to succeed at becoming financially free then you need to stay motivated enough through the whole process.
There will be times when you can’t be bothered to write down what you have spent or even plan your money for the month.
Sometimes life happens and we have to work a little harder to achieve the things that we want.
Having your why as motivation will help you to keep going when it doesn’t seem so easy to do.
You see I have 4 children and the more they grow, the more they eat the more things that they need.
I realized that if I truly wanted to help them then I had to help myself first by learning how to manage the money that I already had.
If you can be faithful with a little money then you can be faithful with a lot of money.
Have you ever seen people that win the lottery BIG style and then lose it all within a few years? Its because they haven’t yet learned the principals of money.
Being disciplined with money is not an option, it’s a necessity that you need to have no matter how much money you have in the bank.
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Why you should have a budgeting workbook
Believe it or not, budgeting can actually be fun and if you put yourself out there and do the work it will pay off over time.
Having a budget workbook means you can see exactly where your money is going each month. Not only this but you can also see where you need to allocate money too, which is REALLY important.
My financial situation never changed an inch until I put some financial principals into place.
I learned so much on my journey that I decided to put everything that I have learned into my Savvy Moms Budget Workbook.
The workbook gives you instructions on how to effectively use it and the things that you should be taking note of each month.
Remember I said earlier, if you put the hard work in now it will pay off?
This budgeting workbook has helped me to do just that. You can take a look at it here.
I spent many nights worrying about money and how we were going to pay the next bill that came through the letterbox. It’s a miserable place to be.
Today most of my debt has been cleared ($34,000) but I still have a little way to go. I have a debt of almost $9000 that I’m aiming to clear by the end of this year and I believe with this workbook I will achieve just that.
Find a system that works for you
Let me just start off by saying that not every budget system out there is created equal. Some work well and some will help you to fall flat on your face.
I’ve tried a few different ways out there and so far this has been my most successful system.
In order for your budget to work effectively, it has to be able to track absolutely everything. All aspects of money must have a way to be accounted for.
There’s no point in having a budget where you can easily miss off items or fail to pay off debts or make savings like having an emergency fund.
Having a good budget workbook can be the difference between being a success at managing your money and failing and giving up on budgeting altogether.
What makes a good budgeting workbook?
In order to be successful with your budget, every element must be catered for.
This includes your income, savings, debts, and bills.
Absolutely everything must be tracked.
A good budgeting workbook will allow you to be able to see how your year is going and if you are on track to meet your financial goals at the end of the year or not.
A good workbook will allow you to see any potential problems before they actually happen.
Make sure your workbook has flexibility so that you can easily make changes and will adjust to your needs as much as possible.
Some people get paid weekly rather than monthly so you’ll need a system that will allow you to do this.
I tend to get my money monthly but I find it much easier to manage my money when I break the months down into weeks with the help of using the cash envelope system.
What’s inside my budgeting workbook?
Looking at a budgeting system for the first time can be a little overwhelming so I’ve included a couple of pages that explain exactly how to use the book so that you don’t get lost along the way.
You’ll then have a place to write down all your financial goals for the year.
Without goals, we can never reach a destination, right?
Write down all your goals no matter how crazy they may seem. One day they may not seem so crazy!
Also included in the book is a monthly finance calendar so you can get a general overview of the month ahead, birthdays, special dates, things that need to be paid for etc.
- Monthly income breakdown
- Monthly expenses breakdown
- Debt tracking
- Monthly and weekly budget overview
- Expenses Tracker
- Cash envelope tracker
- Net worth statement
- Sinking funds chart
- Debt snowball tracker
- Build your $1000 Emergency Fund
- Yearly bill tracker
- Yearly savings tracker
- Money savings challenge worksheet
- Subscription services
- Annual summary of income and expenses
As you can see I’ve done my best to make sure that every aspect of finance is covered so that you never fall short.
Track your expenses
One of the most important pages in the budget workbook is the expenses tracker.
This is where a lot of budgets confused. It’s easy to take some money out of the cash machine and before you know it it’s gone. It happens to everyone.
I’ve found that the best way to beat this is to make sure you keep all of your receipts and at the end of the day write down all of your expenses so you can see what you’ve spent.
It should take you no more than 2 minutes each evening to make a quick note of all the things you spent money on.
This could be food shopping items, online purchases or cash withdrawals. You must make note of everything to make sure your money balances at the end of the month.
Sometimes money gets lost
Budgeting your money with a sinking funds chart is a great way to make sure that you know what is coming your way. I lost count of the number of times I forgot that a large expense was due and it would completely throw my budget off for the month.
Having a way to track these bills is an essential part of your budgeting process.
The great thing about this is that you don’t have to only use it for yearly expenses like car insurance but you can also use it to plan towards birthdays, Christmas, holidays and even a wedding.
By keeping track of how much you will need over the course of the year you can easily break those payments down into more manageable monthly amounts and therefore avoid going into debt.
Final thoughts on the budgeting workbook
The best way to start with your budgeting workbook is to write down your income. Don’t worry if your income is irregular you should update the book as the month goes on.
Nothing is set in stone when it comes to budgeting.
Next, write down all of your regular bills and expenses.
Once you have done this feel free to continue to fill out as much of the book as you can.
Remember you can always revisit parts of it later on.
If you take the time to fill out most of the book now it will get much easier over time.
Budgeting is not the kind of thing that you pick up today and put down tomorrow, it takes commitment. Just remember why you are doing this and what you want to achieve out of it.
Budgets are vital in any household no matter how much you earn per month.
If you would like a copy of my Savvy Moms budget Workbook you can find it here.
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