Developing a Working Budget

It is so easy to miss a category or expenditure when you begin making a budget or spending plan. For us, we have found that making a workable budget isn't a one-time deal. Our first budget was (although we didn't know it at the time) a rough draft or a work in progress. Even though we adhered to it faithfully, we found that at the end of the month, the numbers didn't line up. The biggest killer of our budget was automatic withdrawals! These are items or services that you sign up for and are automatically deducted from your account. As we went through our credit card and debit card statements, we found quite a few of these items...and we didn't even realize they were being taken out of our account each month! It's embarrassing to say this, but we had $120 worth of items that were being taken out of our accounts each month without us realizing it! If you are just starting a spending plan (or budget), make sure you take a look at your credit card and debit card statements! For free worksheets to help you develop a spending plan, click here.