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Busy Bee Budget Planning

Planning your day can be difficult when

you’re struggling to get so

much accomplished in such little time.

And then, there’s the budget. As a stay-

at-home Mom, I am constantly looking for

new ways to save money. Running a

household on one income was never

something I planned to do but after

having kids and discovering the cost of

childcare would just about consume all of

my salary, it was a no brainer.

Monthly Budget

If you’re like me, creating a budget

can be something you’d rather

avoid. Budgeting and financial

planning can be boring but setting

aside time at the beginning of each

month to create a budget is an

important step in creating a strong

foundation for your future. This can

be as creative or as simple as you

want it to be.

what you will need

I like seeing things on paper rather on a screen. It may be a little “old school”, but I am a visual person

and I find having something in front of me to write on makes things real. It helps me manage my

budget more efficiently. I prefer to use a notebook and highlighters but there are many things you can

purchase to help get you started.

If you’re not into the “old school” thing, that’s fine too. Check out the app store and download the

budgeting app that fits your needs. If you prefer not to use an app, creating an excel spreadsheet is a

great way to manage your money too.

getting started

So in order to manage your money the first thing you need to do is create a budget. A budget is a plan that

helps you decide how to allocate your money for the month. By listing all of your expenses (ie. rent/mortgage,

car payment, credit cards, etc.), you can decide how much money can go toward each expense. This way you

will know exactly what you are spending on monthly bills and how much is left to spend on something you

enjoy. Make sure you write down all of your daily purchases even if it’s just a cup of coffee. Every dollar

coming and going needs to be accounted for. Having a budget will help you track monthly expenses and

work toward your financial goals.

Now it’s time to be honest with yourself. Take a serious look at your expenses for the month and how that

relates to your monthly income. Some months may be tighter than others so you may need to decide what

expenses you can do without. Other months may be easier and you may have extra money to put in savings

or toward paying down a debt.

Once you have listed all your monthly expenses, it’s time to add them up and subtract the total from your total

monthly income. Don’t be shocked. If this is your first time creating a budget, this number may be negative.

This means you are spending more than your income. Most people don’t realize this until they see it in a

budget. There are many ways to fix this problem.

What can you cut from your
monthly expenses?

If you’re in the red after creating a budget,

you’re not alone. One way to help fix this

problem is to think of ways to cut back on

monthly expenses.

Take a look at your food/grocery bill for the

month. Figure out how much of that is spent

on daily necessities and how much is being

spent on things like a family pack of paper

towels when you have three of them at home.

how many times do you eat out? order takeout?

Figure out how many times in a month your family eats out and decide if cutting back on a night or two

would be feasible for your family. If you’re a stay at home Mom like me, I completely understand

that some nights are just meant for takeout. For us, Friday night is pizza night. After a long busy week,

it’s nice to end it with an easy dinner.

earning a few extra dollars can help

Have you ever thought about a side gig to earn a few dollars and help balance your budget?

There are tons of opportunities available to get you earning a little or a lot depending on your budget

needs. Check out my page on Making Money At Home for some great ideas to get you started.

how high is your cell phone bill?

I am constantly looking for new ways to cut corners and one of them is to take a look at how much your

monthly cell phone expense is. If you think your spending too much, start looking at other companies

and the promotions currently being offered. By switching carriers, you can save on your monthly bill

and maybe even be offered a new phone.

Although being a stay at home Mom was not something I planned, putting together a monthly budget

has helped me plan the foundation for my family’s future. Taking some time to think about how much

money you spend can definitely help open your eyes to some expenses that maybe you really don’t

need. Whether its the daily frappuchino fix or lunch you could make at home, think of ways your family

can cut expenses and save towards a common goal.