Setting up a Monthly Budget Book
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I have been using my Erin Condren Monthly Planner for a couple of month now and used it for my January and February budget. The set up that I used works well for me and helps me to keep track of my budget. Today I will show you how I set up my Monthly Budget Book.
As mentioned before, I am using an Erin Condren Monthly Planner for my Budget Book but you can use any other planner or notebook. I reviewed the Monthly Planner in a previous post, you can check it out here. If you are interested in purchasing this planner and haven’t ordered from Erin Condren before, you can use my referral link to receive $10 off your first order and I will receive a $10 credit on my account as well.
The monthly planner has monthly calendar pages and lined note pages. I am using this page to keep track of any income or expenses. The overview will help you with planning ahead and lists all income bills due for the month.
The first thing I do is to write down my pay days and any other income that I will receive during the month. I am using green income stickers which are available in my Etsy store . Green is for income and red is for expenses. If I now the amounts, I will write them down.
Next I am doing the same for my expenses. Here I am only tracking bills that are due during the month. Again, I will write down the amounts if I know how much it will be. Sometimes you won’t know the exact amount until the bill comes in.
This planner also comes with a sidebar for notes. I like to use it to list all my bills and check them off as they are paid. Most of my bills are on auto pay but I still check them off as they come out of the accounts. Dates sometimes vary due to weekends and holidays.
Now I will show you how I plan my Budget. Here I am using the note pages of the planner. For decoration I am using stickers out of the Erin Condren Monthly Sticker Book. There are headers for each month and other pretty stickers for decoration.
Budget Set up
This is my layout for the budget. The income is split into 3 different incomes and the expenses are categorized into fixed expenses and variable expenses. I tried to keep all categories pretty general without many details. This will give me a basic overview and not be too complicated.
At the beginning of the month I will write down my budgeted amounts. If you are still figuring out your budget, start by looking at your bank records for the last 3 months (or more) and categorize your income and expenses. I wrote down my base income (no overtime) and all the bills for the month. The amount that is left is allocated between any other variable expense categories such as food, gas, shopping etc… The goal is obviously not to go over budget and have money left at the end of the month to save or put towards debt. I am trying to build up my emergency fund so I use this little piggy bank sticker to write down how much I put towards it 🙂
I hope you liked my little write up and please join my facebook group to see more monthly budget setups and share yours. Thank you!