Budget vs. Your Actual Spending
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- Опубликовано: 24 апр 2020
- I get asked a lot what the difference is between the "Budget" & "Actual" columns in the Budget By Paycheck Workbook.
I am a paycheck budgeter, which means I create a budget every single time I receive a paycheck. When you create a budget, you are using estimates based on what you think your expenses will be. Essentially, you should be planning ahead.
In this video, I break down the difference between your budget and actual spending. There is a significant difference, which could leave you more money than you think in your budget.
➡️ HOW I TRACK MY SPENDING: bit.ly/3aIe89I
➡️ HOW TO USE A BUDGET CALENDAR: bit.ly/2IzF2Vj
➡️ FINDING YOUR WHY: bit.ly/3aJUryj
➡️ THE BUDGET MOM'S FINANCIAL FREEDOM STEPS: bit.ly/3cfJXsp
➡️ HOW TO GET STARTED WITH THE CASH ENVELOPE METHOD: bit.ly/2vQJaO5
➡️ HOW TO CREATE A PLAN OF ATTACK TO PAY OFF DEBT: bit.ly/2wDETxF
ABOUT ME
I'm the blogger behind www.thebudgetmom.com. I have a rambunctious 6-year-old son, live in Washington, and I'm passionate about helping people with money management and personal finance. Let me know what you like to learn more about! Leave me comments and suggestions on my video and let me know!
YOU CAN FIND ME AT:
📝 BLOG: www.thebudgetmom.com
📘 FACEBOOK: / thebudgetmom
📸 INSTAGRAM: / thebudgetmom
📌 PINTEREST: / thebudgetmom
GET STARTED
➡️Start Here: www.thebudgetmom.com/start-here/
➡️Free Email Course: bit.ly/2UYgNFf
➡️Free Resources: bit.ly/2PDmTHz
➡️GET 10% OFF my popular Budget-by-Paycheck Workbook - Coupon Code TBMRUclips bit.ly/2CR7U9n
No Dave Ramsey, No Kiyosaki, you are the one than have save me from all my credit card loans.
You don’t know me and you don’t know how much have you helped me. Really thank you!!!
When you can’t sleep at 1247am Sunday morning and TBM releases another RUclips Vid yah!! Midnight watches 🤣 Brisbane, Australia 🇦🇺
I'm from Brisbane too!!!
Family Finance yay a fellow Aussie, Hi from Waterford West 👋😍
I am an essential worker and right now your budget book has been so amazing for me and my family I lost my other income so i have been needing to budget very carefully to make sure we have what we need. For the past year your budgeting skills and your budget advice have been amazing to me. I started with the downloadable book before you even had an actual book and for Christmas my boyfriend got me the budget book and i was extremely happy. I am so thankful that i came across your channel i paid off 17k of credit card debt in one year and i also now only owe 4,200 on my car loan. Working in this pandemic i am so glad that budgeting is in my life i couldn't imagine how things would be right now if i didn't know all of these skills.
Marilyn Vega Thank you for your service during this horrible time. I am praying that you and your family stay safe and healthy.
Ayanna Fraley Moore Thank you so much! i wish you and your family nothing but health and happiness during this time.
I got frustrated and gave up even trying because it seems so many random things come up that I might as well just throw the bulk of the leftover to a misc category or something or we have to travel back and forth due to hubby's job and we never know how much we're gonna spend on gas or food and it's SO OVERWHELMING. Maybe I'm trying to be perfect but I want to pay stuff down but I feel like I have to hold onto what's left for all the unexpected stuff plus our stores have been bare and grocery shopping has been tricky. Sorry for the rant but it's so overwhelming every time I try. I love your workbook though. I have both it AND the printables!
Love how she can explain everything in sections for us! Thank you to TBM!! I’m a health care worker and I’m so bless I found you before all this craziness happened... since my husband lost his job I’m glad I can still manage to take care of my family on only one income.... thank you and god bless!
As always perfect timing, finishing my May budget🧐🧐
😩😩😩 and I’m doing a no spend month to see if the extra paycheck is really “extra”. I need to order my paycheck by paycheck calendar 😣 to keep me better organized.
Same. 🙂👍
You got me into budgeting!!! Thank you for saving my life and finances.
I love watching how detailed your budget is 😍
Thank you. This explanation really helps for a better understanding of where the budgets. I am often in the red and trying to figure out how to change that!
Your channel just saved my life, I'm going to binge watch you and turn my finances around, THANK YOU!!
You have helped me create my budget so much! I can’t wait till that book becomes available.
I love listening to you while I'm driving and then watching the videos when I get home.. ❤❤
Wow Totally didn't know about the Envelope Actual, makes perfect sense now you said it .. Thank you
This has really helped me. When I budget, I round up also but I don't account for the extra money from the actual. I'm going to start writing it down. I downloaded this paycheck bill tracker a few days ago and will be taking full advantage of the actual column. 😊
Just starting budgeting with you. This video is helping me so much. Thank you
I get sooo happy every time you post a new video! I'm either learning something new or getting a good reminder on what I should be doing to reach my financial goals.. love it!!
Gina Doucette I feel the same way! Always checking to see if a new video is up
Same here! If this isnt something I'm constantly looking at I fall off track.
Using your actual budgeting examples and information is a beneficial aid; thank you!
Great video!! I love expense tracking...
This video is so helpful. Thank you. I'm still trying to figure out how to use the budgetworkbook. Thank you.
I love watching your videos. It has helped me get on tract these past couple months. The beauty of it is I can adapt it to me. We don't do cash envelopes, but I can take the same concept and do it electronically.
*track not tract, haha
I need to watch this when I am near to closing out my budget for the month and think about what is going on or what has happened in that month I am preparing to close out. As I find near the end of the month if I budgeted over what I actually spent and there is money left over I am not using my money wisely to put it towards my goals. I actually did this though one month and was able to pay off the last credit card and now I am debt free!! BUT now in order not to overspend when I do have a good month and stay within my planned budget, I need to focus on what it is I have been wanting to save for, and I think that will be separating some savings to specific accounts at my financial institution for a car maintenance, house maintenance and an emergency fund, for now. Needed help to think this through, thanks Kumiko!
I like this because you can see every dollar spent
Love the lint roller! lol Real life. :)
Thanks so much for this great video
Omg THANK YOU this is my very first time doing this n im so scared to fail or give up. But i will learn. Thank u again for this video!!!😘😍
Melissa Hernandez you got this!!!
Hey! Most people mess up for the first couple months on their budget! Its takes a little practice to get the hang of it, so don't give up!!
@@andrealewis1700 Love the encouragement!
Thank you IM inspired to budget more
Thank-you for the video :)
Up late tonight binge watching your videos. My question is where are you recording your cushion? Did I doze off?😆
Thank you so much
Excellent new subbie
It’s easy to manage this in YNAB software too
My husband and I are new to your budgeting system and we appreciate what you are trying to do. We think over all this system will work and have been trying really hard to get all of our numbers plugged into the Budget by Paycheck book we bought from your website and have watched dozens of your videos. However, each time we watch one of these videos, we feel frustrated because the instructions are not given in a clear and concise manner. There is a lot of extra talking and examples given with numbers that are not actually shown on the form (for example your utility bill) and it makes us feel confused. Also, we are trying to build up money in certain categories that we pay online with our debit card such as gas. We don't use case for that. According to our understanding of your explanation in this video, if we didn't spend all the money we budgeted in that category, and have money left over in the "actual" category, then we would have to assgin that money to something else like debt or savings? We want to get to a place where we are one month ahead of all of our bills/categories and are struggling to understand how to make that happen with your method. Please advise. Thank you.
Is there a video that goes more into detail about the cushion? If I'm doing $50/paycheck, would the first be $50, then the next one $100 then $150 and so on. Or do I subtract the cushion total from the previous times?.. hope this makes sense...still a beginner & a little confused. Thank you!
When will more workbooks be available?! I've been on the list and checking the website for what seems like a while now.. I'm anxious and excited
Makaiya Simmons they go on sale every October 💕
@@alicia_shaun That's so far away :-(
is there a way we can buy a BP workbook before October? i would really love one
I am new to the channel, love it. Where can I buy the budget planner like the one in the video? I tried doing budget online or in apps but for some reason if I write it down manually it works better.
budgetbypaycheck.com
My monthly budget is always the same, rent, electricity, phone, internet with Disney plus included.
if i were to spend over the amount in my cash envelope by using my checking account, would i add up the total from cash and checking to put in the actual column?
I'm pretty sure you covered this in the past, but I'm still going to ask. 🙂 Would it make sense to build up the checking account a bit before focusing on a zero base budget, just so you have a cushion? I am at that cross road now and deciding what would be the best option.
Vernee McFadden shes explains it in July budget video.
what to do if cash envelope is an allowance? My husband and my son have a cash allowance which they spend anyway they want. What to do?
My electric is always the same except once a year it determined up or down on need to secure my home
I have 2 checking accounts. One for all bills and one for daily spending, groceries etc. I am confused on how to us the TBM for 2 accounts. I was also wondering about the budget vs actual.
I have been looking for a new bill tracker and cant seem to find one I like. Where did you get the one you use? I really like it
You can find all products in the shop >> shop.thebudgetmom.com
Since the C-19 I spend more on food, 😞. I was really doing good before. Doesn’t help when kids are home too.
I'm spending so much on food now too!!!
I think this is everyone right now! But its helped me that I'm not spending on other things such as gas, lunch with coworkers, and not going to the stores.
Where did you buy the notebook?
I noticed that all your spending don't have change in the amounts. They're always a full dollar amounts on your expense tracker. Do you carry around coin for when you use your cash envelopes?
So, if you have debt, do you prioritize the sinking funds or put all of those in debt first? We only have my car & house to pay off, & my goal is to pay it off before this year ends. I need a reset! Lol
HI Miko, I have a question! How do you close the budget to zero when you have an amount to roll over for next month?
At the end of the month
You would rollover the leftover into the next month OR apply it to savings or debt for the current month, depending upon your goals/priorities
Can you share where you purchase your budget book from please
Where can I get one of these budget planning books?
Thebudgetmom.com. I think they are out of stock right now but you can sign up for an email when they are restocked :)
You can also but the printable and make your own on her website!
I notice on your checking account tracker, you write the exact amount that is deducted, but on your cash envelopes, you round up to the nearest whole dollar. Can’t figure out how this does not effect the closing of your budget.
For your cash envelope spending, sometimes I’ve seen you spend more than your budgeted amount. But if you are only ever spending in cash, and that is a fixed amount, where do you get your money from when you go over budget?
Leah Lapp She sometimes pulls from other envelopes. In her June Budget Recap she talks about her Costco haul and how she needed to use money from other sources to compensate for her large purchase.
Would you be able to do a step by step with calculations, etc? I’m not sure if I missed something but I can’t figure out where the $1968.74 in the Leftover Category is from. Can someone help? 🙈
It is $4882-$2913.26= $1968.74. So it’s her income minus actual bills.
I’m still confused lol . So budget is what I take out for the week? I have 4 Pay check
Me perdí 😳 en la parte de los $922 dólares que te sobraron, en adelante 😞
I search to see if anyone has my issue: I receive income twice a month. The 1st income is larger than the second one, therefore I fully fund some envelopes from my 1st income and some I do half. then fully fund them from my 2nd income. My question: how to I handle the cash the left oveer in my envelopes on my 1st paycheck bill tracker that though I did not spend, I will be using during the second half on the month. I hope my question makes sense. TIA
Does “rolling over” cash count as a spend?
n0, its income
When will you have more binders?! Next year?
October :-)
How would you do this with multiple pay checks?
You create a budget each time you are paid, and after each pay period you will fill in your actual amounts
If your not a organized or detailed kind of person is it still possible to budget your money?
Definitely. This is only one method. There are heaps out there. The barefoot investor has a way more relaxed method for example (60% living, 20% long term saving, 10% spending, 10% i think was short term saving).
It only takes me about 15min to sort out my budget with the budget mom method, but ive had my bills set up for years, so ive known for a long time what my after bill money is.
You can also get various apps to help you out with the details as well (i dont use them though, but i know others do) which might help as well for tracking what you spend on.
It's definitely best to have an organized method that works for you :-)
where can you buy the tracker that you use?
You can find all products in the shop >> shop.thebudgetmom.com
The Budget Mom i think i saw which one it was but it says its not available and leave email to be notified.
The Budget Mom so i was looking for the purple budget by paycheck workbook which im assuming is the one you use ? i put my email down for when it becomes available.
Where are your bills for home owners insurance and property taxes?
I didn't have it included in March's bills. I started those sinking funds in April :-)
What do you do with money you don’t spend on your cash envelopes? Roll it over to next month or sinking funds? Savings?
It depends on my savings goals and what my spending will look like for the following tracking period. If I don't need it, I save it for my goals :-)
@@thebudgetmom Thank you for explaining this more.
Question dose daily spending goes under miscelleounous