Today, I’m taking you with me through the weekly budgeting workflow that I use here at Budget|BFF! Yahoo!
While I usually look at my budget every day {you know, because I’m obsessed}, I set aside time every Tuesday to really sit down, update my finances and forecast them out.
In this workflow, you will see how I, the BFF behind Budget|BFF, utilize The Simple Spending Plan Budgeting System on a weekly basis to update and reset my personal budget.
All printable versions mentioned below can be accessed in the Budget|BFF Vault by signing up with your email HERE.
1. GATHER
Get a cup of coffee {obv.}
Gather up ALL mail and receipts, clean out purse and wallet while doing so
Go through mail and either “do”, “delegate”, or “delete”
2. RECORD
Enter Receipts in Account Ledger{s} (enter any grocery receipts and/or Amazon purchases on Dashboard)
Enter Transactions in Variable Expense Tracker and/or Credit Card Transaction Tracker, as needed
File, trash or shred receipts
Confirm posted transactions with online banking system and mark “X” in ledger if posted
Enter income in Weekly Income + Savings Tracker and/or Account Ledger{s}
3. TRANSFER
Transfer amounts into designated accounts as necessary and record in Weekly Income + Savings Tracker
Enter Transfers in Account Ledger{s}
4. PAY
Pay all bills that are due between now and next payday and record in Account Ledger{s}
Record all automatic payments that will be coming out between now and next payday in Account Ledger{s}
5. FORECAST
Forecast budget out 1 month using Projection Worksheet
6. MONITOR
Review Monthly Spending Plan Dashboard and update as needed
Review savings accounts and sinking funds
Whew! Isn’t this so fun??
It seems like a lot, but if you check in with your budget and update once per week, you will get through this checklist in no time at all.
To make it easier, I’ve created a checklist that you can access for free HERE.
If you’re ready to invest in a budgeting system that saves you time and organizes all of your information in one colorful, easy to read {and maintain} place, then check out The Simple Spending Plan Budget Template for Google Sheets.
Happy Budgeting!
Caitlin
