7 Steps to Less Stressful Budgeting
1. Breathe...It's going to be OK! Find a comfortable place in your home or favorite hang out spot. Grab a cup of coffee or tea or even a piece of chocolate and then let's begin. Try this delicious Lemon Butter Cake recipe...You're welcome!
2. Add up all of your income
3. Add up all of your expenses
4. Subtract your expenses from your income
5. If you have money left over, that's extra money you can choose to use as you see fit.(save a portion, donate to your favorite charity or cause, invest it or do some self-care.)
6. If you're in a deficit (more expenses than income), it's time to make some decisions and a few adjustments. I know you're probably feeling the knot in your stomach tighten but just remember to breathe. Take a deep breath in and then slowly release the breath and the fear and anxiety you're feeling right now in this moment. By releasing the negative energy through the breath, you invite peace and clarity into your space, opening yourself to creativity and the new perspectives you need in order to increase your income.
7. Begin looking at the areas where you are spending money. What are some expenses you can adjust or eliminate altogether? I recently got rid of my cable bill ($231 per month) and opted for Sling TV ($25 per month) and I still get the channels I want. That's a savings of $206 per month and $2,472 per year!
The real key to taking the stress out of budgeting is by knowing exactly where you stand each month ( how much you have coming in and how much you owe) and then identifying what really matters most to you. Yes, paying the bills is important but beyond that, what kind and quality of life do you want to have? Do you really need 206 cable channels you don't even watch or $206 extra dollars to do what brings you joy? When you get clear about what you really want, trimming and letting go of the excess becomes easier.
Drop me a line and let me know how you're budgeting and what you think about that Lemon Butter Cake!