Budgeting is a big part of life and a person's independence. It can be overwhelming to anyone. This is especially true if you're just starting to learn how.
You can start by understanding and defining what budgeting is. I try to keep the definition simple.
Budgeting can be summarized in two things:
1. Understanding how much money we have
2. How we spend your money
That may seem like common sense but not necessarily, especially when we're stressed out overwhelmed with just the idea of budgeting. By keeping it simple it makes it easier to do one thing at a time.
Even though there are many ways to spend our money during a month, what it really comes down to is wants and needs
Independent living involves figuring out the essential monthly expenses first. Once you figure those out then you know how much you have left over for other things we enjoy like doing things with friends etc. Many times people don't realize that then they run into trouble because they don't have enough money to pay for essential things like rent.
I have a budgeting sheet I give to students working on independence. This is to put on the refrigerator. With technology you can just put them on your phone calendar and or computer as a reoccurring event on the due date.
Not everyone has the things I have below. The idea is to list things that fit you specifically.
1. Rent or mortgage Due date
2. Utilities Due date
3. Groceries Due (N/A)
4. Secured debts Due date
5. Child support Due date
6. Auto insurance Due date
7. Medical insurance Due date
8. Prescriptions Due date
9. Transportation (bus tickets, pass, gas) Due
10. Phone Due date
