Your next task is to identify all your expense areas whether they're irregular or not. Set up two columns for each pay period (as shown below); IMAGE NOT AVAILABLE HERE The first column called "Bdgt" is the portion of your income that each expense area will be assigned. The total of this column should never exceed the income you receive for that period. The second column "Used" shows a negative amount and is a record of what has been spent from that period. The beauty of this system is that it will always give you a running balance.
Your Next Step _ Any time of the year is a great time to take inventory of your current financial position. Check out Virtual Envelope resources including our Personal Finance book and corresponding Budgeting Worksheets and put Virtual Envelopes to work for you. At our blog, you'll find a whole host of articles that will help you get started. If you need one_on_one coaching, we can help you with that too with our personalized Budgeting Coach. It will be well worth the investment of your time.