OK, so you know what your income looks like after sorting income yesterday. Ready to organize your expenses? I promise, this won’t be hard. It might be ugly. Most people wimp out here. But not you.
You are strong. You are smart. You are loved. You can do this!
There is no judgement. No right or wrong. This is just a pure math exercise. Write numbers down and add them up. We’ll figure out what to do with them later.
- Go back to the spreadsheet you started yesterday. On paper or on computer, it doesn’t matter. It works the same way.
- Write down every bill that you have that you can think of. I’ve started the list for you here, but add and delete for your personal situation. Include the bills that only happen sometimes, like lawn care, medical checkups and prescriptions, and that sort of thing.
- Check back through your checking statement and your credit card statements for the last year to see if you got everything.
- Estimate the amount you spend on recurring items, like clothes, gas, and meals out. It might not be completely accurate, but take your best guess. It might be wildly off, but we won’t know that for a while.
Time’s up! Did you spend less than 30 minutes here? Good. That’s all for today. Don’t try to work ahead. Save your spreadsheet or put your paper aside, and let’s meet back here tomorrow.
Good job! You’ve now done more financial planning than most people ever do.
This post is part of my 31 days of 30-minute Organizing Projects. Be sure to subscribe to blog for daily emails with projects you can complete in just a few minutes to start your New Year off right.