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BUDGETING TIPS FOR BEGINNERS | How To Start A Budget (2019)

today we're going to be talking all

about how to start a budget for

beginners so if that is something that

you're interested in and want to know

how to master your budget and windus

money then definitely stick around hi

guys I'm Marissa and welcome back to my

channel the budgeting wife where we talk

about budgeting tips to help you win his

money I love budgeting and I could talk

about it all day long which is why I

have a YouTube channel but budgeting has

been the backbone for us to pay off

eighty seven thousand dollars of student

loan debt in two-and-a-half years I love

a budget because it enables me to tell

my money where to go and I am able to

have control with my finances rather

than letting my money control me

obviously I can't say enough good things

about budgeting and I want to get you

guys excited about budgeting as well so

let's go through the process of how you

can start a budget as a budgeting

beginner first take a look at your

income and expenses for the last couple

months to see where you really have been

spending your money if you don't

currently have a budget or are tracking

your expenses you probably don't even

know where your money is going so print

out your last couple bank statements and

credit card statements and group of your

expenses categorize them buy groceries

by eating out by utilities and figure

out the kinds of things that you're

spending your money on it you can use an

app like mint to help you with this or

you can just do it old-school with

either pen and paper or Excel I do love

using mint to track my net worth but I

have found it to be a little bit

difficult when categorizing my expenses

because it doesn't always choose the

correct category but either way I find

some time and sit down and categorize

where you've been spending your money

you may even be surprised to see it how

much money you've been spending on

certain items like even eating out or

entertainment also be sure to check over

your income take a look at your pay

stubs to make sure that your

withholdings are correct and that you're

bringing home as much income as you

truly should be I know that for us one

time Jacob received a raise at his job

and he didn't notice it for six months

until he actually checked his pay stub

that was the last time we ever made the

mistake of not consistently checking our

pay stubs so definitely be sure to go

check yours to make sure everything

in order next write down your financial

goals if you are single then that just

includes you but if you do have a spouse

sit down with your spouse and dreams or

your financial goals what are you

wanting to accomplish are you trying to

pay off debt say for an emergency fund

contribute more for retirement whatever

that may be it write it down so that you

guys know what you're working towards

with your finances you want to use your

budget to accurately reflect the goals

that you have for your finances so

before you even start a budget make sure

you know what those goals truly are then

decide on a budgeting platform there are

many different platforms out there that

you can use to create a budget you can

use an app like every dollar that is one

of my favorite apps to use or you can be

old-school with pen and paper or even

use Excel which is my favorite method to

budgeting if you're interested in

getting in Excel budget template I

actually do sell them on my Etsy shop

which I will go ahead and leave a link

to it down below and you guys can check

out it is five dollars for the template

and that is the exact template that I

use for my budget every single month but

whatever that platform may be decide on

one and stick to it it should be the

platform that's going to be easiest for

you so that you will stay motivated to

continue budgeting then it's time to

come up with a plan with your budget by

using a zero based budget a zero based

budget is pretty simple it just

basically means that all of your income

needs to equal all of your expenses so

every single dollar gets a name at the

beginning of the month so whether you

put money to expenses like utilities and

rent or even putting money into savings

make sure that every single dollar has a

place to go at the beginning of the

month and that is what we call a zero

based budget so sit down with your

preferred method of budgeting and take a

look at the expense tracking that you

did earlier and come up with a budget

for this month you can use your spending

history as a guide to determine how much

you should be budgeting in each category

and then even tweak it to work on

accomplishing your financial goals or if

you realize that you've been spending

way too much money on eating out maybe

you know that you need to budget less

for eating out to hold yourself

accountable while you are assigning a

budget to each of your budgeting

categories you may need to make some

adjustments because at the end of your

budget you want to make sure

it gets to zero so to be able to get to

zero that means you might have to cut a

little bit out of that vacation budget

maybe you need to trim down your

entertainment or you find that you have

extra money at the end so you're able to

put even more towards paying off debt

make any adjustments that you need to

get down to zero at the end of that

budget if you are married make sure that

your spouse is involved in the budgeting

process money is such an important part

of a relationship money fights are a

huge deal in marriage and so we want to

make sure that we eliminate that as much

as possible so sit down with your spouse

and come up with your budget together

making sure that you're both

communicating about what you want to see

in the budget and also maybe what you

don't want to see in the budget and come

up with a game plan that works best for

the both of you once the budget bounces

to zero and both people are in agreement

with the budget for the month then you

are ready and notice how I didn't say is

that you are done because a budget is

more work than just putting numbers on a

page at the beginning of the month a

huge part of budgeting is actually

tracking your expenses as you go so the

next step is to be checking in with your

budget on a regular basis for us we

check in in our budget every single week

on Sunday evenings I will pull up my

budget and my bank statements and check

over all of the expenses that I've made

and put them into the correct categories

in my budget to track how we're going I

do this to make sure that we are still

on track with our budget and I may even

notice that we might have to make some

mid-month adjustments just because you

make a budget at the beginning of the

month doesn't mean that it's set in

stone so if you notice that you're going

way over on groceries and you haven't

spent anything on eating out maybe you

need to reallocate some funds to put

more towards groceries and less towards

eating out this month to be able to make

your budget work rather than just

throwing them up the way if the first

couple weeks don't work out sit down and

come up with plan B for the rest of the

month's budget you can't still make it

work and I also want to let guys know

that budgeting takes about three months

to get in the habit of so if your first

month is terrible and nothing goes to

plan that's okay take what you learned

and apply it to the next month and see

how that goes

give yourself some grace as you're

learning how to budge

for the first time and if you're able to

stick to it for a few months I guarantee

the budgeting will be a totally worth it

and the last thing I want to remind you

guys up is that a budget gives you

permission to spend maybe you've grown

enough was basically using the word

budget as a bad word of hearing your

parents say it's not in the budget but I

want to let you guys know that a budget

actually gives you permission to spend

so use your budget to be able to

accomplish your financial goals and also

be able to enjoy life a budget is your

guide and it allows you to live the life

you want to live by holding you

accountable and keeping you in between

the lines I hope that this video was

helpful for you if you are looking to

start a budget here on my channel the

budgeting wife I do a ton of videos on

budgeting so if you aren't subscribed I

would love to have you as a subscriber

also don't forget to give this video a

thumbs up if you enjoyed it and leave me

a comment down below and let me know how

long you've been budgeting for whether

this is your first month or maybe your

tenth year I would love to hear where

you guys are at with that and I will

look forward to seeing you guys in my

next video bye guys

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