Being a student is not easy, you have to see all your work, you have to see their expense as well and for all these, you have to balance your money. Many students are shifted from other states or countries for further studies as we all know the rising inflation in current time are very high and you are supposed to live alone with balancing the money, which was very hard to do it. For some people, they remember about their income and then they spend the money for their needs easily but for some people, this is trickier than any other thing. And for this, we’ll suggest you use a budgeting journal, which helps you to balance your money.
You can make notes on your notebook or on the phone to use in budgeting general, we suggest and guide you on how to make a budgeting journal and their steps to create the budgeting mastermind. As it can help you to make your mind before any expense you are doing on important and silly things. Money is being spent slowly, that too in useless things, it is better for you to control in time and you will create the budgeting journal and calculate all your expenses.
These are 6 Easy Steps to Create the Budget Journals
We are providing you with some steps which encourage you to create these budget journals easily and it is also very helpful to balance your money and all the expenses.
- Make a Format for Budgeting Journal
To format the budgeting journal it is your choice to record your income weekly or monthly. If you choose weekly then it gets tougher to fill the journals as you can fill it for four times which is a little bit challenging for you. As we suggest you choose and record your income as monthly because income usually comes in a monthly format, and it will be easy for you to make journals easily (It’s your choice whether you choose monthly or weekly).
- Know your Income
If you know your fixed income of monthly or weekly based then it is easy to note down your income to create a journal as monthly or weekly.
- What are your fixed expenses?
If you are paying any utilities or rent or other fixed expenses then those all are deducted from your income directly and you will easily record all the expenses you spend on food or other stuff.
- Track your purchase
Tracking your every purchase is more serious as you know about all your expenses you made like some kind of stuff you buy and have full records of that like when did you buy it? what did you buy? and how much did it cost? That means you need to remember all the stuff you bought.
- Total your money spent and see how much money you saved
After budgeting journal you made to calculate your expenses will show you all the expenses which you do or all the money you saved from it. You can easily check your expenses and see that you can save your expenses on unnecessary things you buy.
- Split up the money that is left, or set some aside
It is very important to save some amount for your future unexpected expenses. As you can easily save money from this budgeting journal method because it helps you to calculate all the expenses and the savings you left as your income. Saving some amount for future expenses is a good idea for you as you don’t know which bad conditions are on the way in your career.