FREE ways to manage your money💸💰🤑

let's talk about #personalfinance !!

financials were something i personally struggled with up until recently.. but it doesent have to be so hard!

having access to even just your bank account and a piece of paper is a great start! in this post, i talk about a few ways to manage your money

personally, a google sheets budget works best for me! i have mine linked to two separate forms for my income and expenses - and the form submissions automatically update to my budget! if you want to learn more about how to create one yourself, let me know and i can share the youtube video i learned from as well as some personal tips on it!

i hope this post helps - let me know if you have any more tips that you find helpful other than these!

#shareyourthoughts #financialtips #productivity

2024/3/4 Edited to

... Read moreHey everyone! Following up on my last post about managing money, I wanted to dive deeper into practical, free strategies that have genuinely helped me get my finances in order. When I first started, the idea of budgeting felt overwhelming, but it really doesn't have to be complicated, especially for beginners. Many of you asked for more specifics, and I totally get it! One of the biggest game-changers for me was understanding the *basic steps for setting up a budget*. It's not about being restrictive, but about being aware. First, you *calculate your total monthly income*. This means looking at all your paychecks, freelancing gigs, or any other money coming in. I usually average it out if my income fluctuates. Next, you *calculate your total mandatory monthly expenses*. These are your 'needs' – rent, utilities, loan payments, groceries. It's important to be honest here! Finally, you calculate your total monthly cash flow by simply subtracting your expenses from your income. This remaining amount is what you have for savings and 'wants'. Once you have those numbers, applying a framework like the 50/30/20 budgeting rule (which I know some of you have seen in my visuals!) can make decision-making so much easier. It breaks down like this: 50% of your after-tax income goes to 'Needs' (those mandatory expenses we just talked about). 30% goes to 'Wants' – things like dining out, subscriptions, hobbies, or new clothes. These are the fun things that make life enjoyable, but they're flexible. And the crucial 20%? That's for 'Savings' and debt repayment beyond minimums. I find this rule super straightforward, and it really helped me visualize where my money was going, just like a pie chart would. For those wondering *how to live on a low budget*, it often comes down to scrutinizing your 'wants' and finding free alternatives. Can you cook more meals at home? Swap paid entertainment for free parks or library books? Look for free community events instead of expensive outings. Every small saving adds up! And remember, managing your money for free truly is possible. Beyond Google Sheets, there are other free online tools or even just a simple notebook and pen that can help you track these categories. The key is consistency and finding a system that works for *you*. I hope these extended tips offer more 'money management help' for all you beginners out there. It’s a journey, not a sprint, and every step you take towards financial awareness is a win! Let me know if you try the 50/30/20 rule!

29 comments

Leontyne's images
Leontyne

I would like to have a google sheet budget

natijaymes's images
natijaymes

please make a google sheets tutorial

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