For many of us, budgeting is difficult to do. We struggle to make ends meet, but never seem to make enough progress to reach financial independence. This worksheet is designed to help you gain control of your finances and features an easy five-step system to create a budget that you can live with.
| ||1. ||Track your daily expenses. |
Use a small notebook to record everything you spend—to the penny. You may be surprised how much money is spent on coffee, cigarettes and snacks.
Create a budget
| ||2. ||Create a budget and stick to it. |
| ||3. ||Trim your living expenses. |
Pay attention to optional expenses you incur, such as cable television and eating out as they can really add up.
| ||4. ||Consider a part-time or weekend job for a few months to catch up on your bills. |
| ||5. || |
Consider converting unused and excess assets to cash.
If you have valuables you’re not using, such as jewelry or electronics, you may want to sell them to pay off some of your debts. And pawnshops are a great place to get cash for items of value you aren't using.