Member-only story
Create a Get-Ahead Tab in Your Budget to Get Ahead
I know it feels counter-intuitive to plan for extra money right now; that’s why it works.
I’m going to keep this one short and sweet.
If you don’t have a budget, I will save the lecture, even though WTF?
And don’t tell me you don’t make enough to track it, don’t tell me you will create a budget when your situation is more stable, don’t say everything is automated, and you already know where your money goes — to bills.
Budgets work.
They work because you can spend in alignment with your values, you can see your debt shrink, your assets grow, your net worth increase, and budgets add a level of accountability and intention to your financial equation.
A simple excel spreadsheet will do. Create tabs or worksheets for each half-year. Then set a goal to track your spending, expenses, income, savings, and investments for five years. Yes, it can be that easy. You’ll keep going.
One of the most powerful aspects of this exercise is seeing how much of your money goes out to pay for monthly recurring expenses — tolls, subscriptions, payment plans, utilities, etc. — You get a sense of why it’s not snowballing in your favor.
