Monday is time to Motivate!June 8, 2020 Use These Tools to Help You Set the Perfect Budget! In our very first email, we shared the benefits of using Savings Automation. Automating your savings is like opening an unexpected gift from your future self. Except this gift is a pile of money that’s been growing off to the side while you’ve been busy worrying about other things like enjoying life. In case you missed it, check out our step-by-step guide on how to start automating your savings. But we have another amazing tool to share that really takes your financial planning over the top, and that’s creating a Budget Calendar. STEP ONE — CREATE A BUDGET CALENDAR What is a Budget Calendar? A budget calendar is simply a calendar that helps you keep track of your income and payments and their corresponding dates, and it’s super easy to set up. Simply list out all of your paydays, bills and routine expenses, putting each on a calendar. You can do this on a physical calendar, digital calendar, or you can make a chronological list. Either way, looking at what you spend will visually help you understand your cash flow for that month. What’s cash flow? Cash flow is a term often associated with how funds flow in and out of a business. “Well, I’m not a business,” you say? In a way, yes, you very much are. You’re in the business of keeping you and/or your family not just surviving but thriving for many years to come. If set up properly, a cash flow allows you to see into the future. You should be able to determine exactly how much money you’ll have in your checking and/or savings accounts at any given point in the month.
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