Mr. BMM created our first joint budget over 12 years ago. This weekend we got to talking about how much we really needed to put in a bank account for bills. I was shocked to hear that Mr. BMM did not maintain our joint budget. Some how he managed this way for 12 years. We always had money saved in the bank. Heck we even bought an old car for our pup in cash. Mr. BMM always had is under control. But I really wanted to see a budget. I wanted to see what we spent on everything. I finally felt that I had space mentally to take a look.
Yesterday morning I got to building at brand new budget that includes trending different monthly expenses. I went through two and a half years of bank statements to build this budget. After I sent Mr. BMM with a screen print of the budget, we chatted about a couple items that needed to be added and adjusted. I could tell that Mr. BMM was impressed to see how far I have come with managing money and budgets. I even shared with him my personal budget. Sometimes the money talk is easier when you are fully transparent about where the money comes from and where it goes.
I built the budgets based upon what is paid/made on a weekly, biweekly, monthly, and annual basis. The top section is for what is made or money coming in. The middle section is what is be paid or money going out. The bottom section tells you if you are in the black or in the red. Being in the red is not good. If you find that your budget has you in the red you need to decide if you can earn more or spend less.
The budget I built calculates the total annual amount and the per pay made/paid for each line. I prefer to keep a budget system simple. The more complex the system, the easier it is for me to abandon the system.
Is there something missing from this budget template? What would you add?
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