5 Things to remember when creating your budget (+ Printable list of categories)

I am such a believer in budgeting! I have been budgeting for about four years now at least. There is such a difference to when I am budgeting and when I let it slide. If you are starting to create your very own budget then here are 5 things you need to remember when creating your budget.

1. It takes time

You can’t be expected to know exactly what are the perfect amounts for each category straight away. In the beginning you will have to make your best guess but looking back in at passed receipts but realistically it will be a while before you have the numbers perfect.

2. You have to be willing to adapt all the time

Every month will look different. The core expenses should stay the same but as our lives are constantly changing other expenses will come and go.

3. Get your household involved

If you are marries or have any dependents then you will have to take them into account when creating your budget. It is important that they are all in the loop so you can all support one another.

4. Reconcile after every transaction

In the beginning it is important to constantly be updating your budget. This way not only around you getting accurate results which you can improve on in future monthly budgets but it also gets you in the habit of budgeting. You are also less likely to forget purchases you made than if you did it every few days.

5. Don’t give up!

Budgeting can seem difficult in the beginning but it is so worth it! You will have a better handle on and more control over your finances. You will watch your savings grow and you will feel richer than you ever did before!

Budgeting is not easy but it’s worth it if you keep powering through. I 100% recommend budgeting. At the very least just try it out. What have you got to lose.

I have a printable here with a list of all possible line items to add to your budget. You can print them out or just keep them on your phone / laptop / Tablet for reference.

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