Teachers make a fair salary, but we are far from wealthy, monetarily that is. My family relies heavily on my income, with my husband going to College and only working part time, budgeting is the only way we get by.
After some time, we have almost completely mastered the art of budgeting, so I am going to share some of our tips, tricks, and editable documents that you can use for your budgets, even if you aren’t a teacher!
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According to Every Dollar, which is an incredible app for tracking spending, we should only spend a certain amount of our income on food, housing, charity, etc.
If your budget does not look exactly like this, that’s okay! I know ours doesn’t. Some people have more debt than other, like student loans. My resources seem to be useful for every individual in every income bracket.
Bill Due Date Calendar
I create my Bill Due Date Calendar every month, depending on the bills that we have coming in. We put this calendar on our phones and on our fridge. This helps us keep track of what money is coming in and going out, so we know what we should and should not spend.
You can download the editable calendar that I use below.
I like to check my Bill Due Date Calendar anytime I make a purchase. With this method, I never overdraft anymore!
The amount we pay in bills varies by the month (sometimes even the week)! It is important to create a new calendar each month, if your bills are like ours. I tried to just use one “generic” calendar but I got confused and ended up overspending. For me, the extra effort makes a huge difference.
Do you remember the old school Check Book Register that came with a stack of checks? Some people still use them, but I prefer to keep a spending log on my phone or computer. I have recently discovered Anastasia’s digital log on Etsy. Hers is cute, functional, cheap, and reusable! It is a digital download that you can keep reusing month after month.
You can use this code DIYDIARY10 to get 10% off your order for this digital spending log! But hurry because this code is only valid until February 3rd, 2019!
So this is a new one for me! I have recently downloaded the Digit App, which rounds up each of your bank transactions to create a “Rainy Day” savings. You can also create a “goal,” which you can save toward.
I was originally concerned about transferring too much out per day, but you can even set up a daily transfer limit. Unlike typical savings accounts, you can withdraw your money as many times as you want and as often as you want. You even earn 1% interest every 100 days.
My favorite feature, however, is that Digit will transfer money from your “Rainy Day” savings to your checking account if you are about to overdraft!
This app does cost around $3 a month after your first 100 days. At least you can see if you like it before you buy it!
I hope you find these tips useful, and I would love to hear some of your favorite budgeting tips!
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