Personal, Planning

Budget planning in my Filofax

I’m not that great at saving money.

Sure, I have money in savings but I know I could have a lot more and given the thought of buying property in the not-too-distant future is getting closer and closer to the front of my mind I know I need to start saving properly.

I currently have an excel spreadsheet that lists my outgoings for the month so I can plan if I will save anything or not but it’s only ever luck if I save each month. I don’t keep track of what I’m sending throughout the month and basically just check my bank account the day before I get paid to see how much I have left! Not great! I’m also not great at saving my Etsy profits.. Instead they just go into my account and get spent (on buying planner supplies from other shops usually).

So with all this in mind I decided to finally set up the ‘finances’ section of my Filofax, using printables from Pretty Purple Plans on Etsy.

Budget

First I have my budget sheet for the month…

expenses 1

The boxes that I’ve covered up say ‘amount’, ‘owed’ and ‘under’ but as for most items there’s set amounts to pay each month I decided to use it more as a budget calculator. The only things that will change over the month will be my Etsy earnings and food and petrol (which I added into expenditure later) and I’ll update these as I go along. The idea with this is that I’ll then be able to work out how much I should have ‘spare’ at the end of the month and from there will be able to work out how much I can spend on ‘stuff’ throughout the month in order to leave with me with a decent savings contribution. This part didn’t happen this month as everything spare is going on Christmas presents!15

Expense tracking

On the back of that I then printed debt tracker sheet as the expense tracker that came with the set was landscape format.

expenses2

As you can see it was pretty easy to cover up with the washi. I’ve then been logging my expenditure each day and colour coding it to allow me to track it better:

Black – general spending/Christmas presents etc

Orange – food and drink

Red – Etsy related costs

Pink – petrol

Receipts and vouchers

If you saw my tour of this Filofax when I first set it up you’ll have seen these pockets in use already.

expenses3

In the pocket made out of the same papers as my dividers I keep any money off vouchers and in the plastic pocket I keep all receipts that I need (clothing, electronics etc). I feel like I’ll need to go through this regularly or move it out of this Filo otherwise it’s going to start impeding my ability to close the planner (which I’m nearly at already).

I’m pretty happy with this set up so far – knowing I have to keep every receipt and note down the spends in my planner has made me think more about what I’m spending but the real test will be come the end of the month. I’ll be able to tally up exactly what I’ve spent my money on this month and then hopefully make some plans to reduce that amount next month.

How do you track your expenses? Drop me a link to your set up below!

Em x

RSS
Facebook
Google+
https://polkadotparadiso.com/2015/12/08/budget-planning-in-my-filofax/
Pinterest
Pinterest
Instagram
  • This is a great idea. I’m so bad at saving, too! I might have to invest in a Filofax and do the same thing!

    • Em

      Just be careful… I bought a Filofax and it was a downward spiral that has costed me more money! ;P

  • I keep a page in my planner to record discretionary/non-fixed expenses (ie: groceries, fuel, office supplies, gifts, coffee/lunch, etc) Every week I total those up and include it in my weekly review. If I didn’t spend more than $10 – great. If higher (and between Thanksgiving and Christmas – don’t ask!) then I make a point to cut anything unnecessary down (ie: bring lunch and coffee, use meats/veggies in freezer for meals before hitting grocery store or getting takeout)

    I don’t really do a budget, per se, as our household overhead expenses don’t really fluctuate that month (with the exception of the electricity in the summer and heat in the winter – but I prepare for those). It’s the misc. discretionary things – like going to the pharmacy for vitamins, then heading down the stationery aisle where I’m pulled in by pens and paper!

    Once the holidays are over and I’m not going way over budget with gifts, baking and postage, I’m going to give myself a stern set amount for discretionary spending and stick to it. Saving/recording receipts and doing a weekly review holds me accountable and shows me what I could’ve done without.

    • Em

      This is a fantastic idea, thank you for sharing!

      I tend to be the same in terms of my spending.. it’s the meals out when there’s no food in, or accidental beauty purchases that eats away at my salary!

      I’m hoping that by logging everything it’ll make it really clear come the end of the month exactly where I’m wasting my money and what habits I need to change the following the month.

      Good luck with the budget after the holidays. 🙂

  • Pingback: 2016 Planner set up – Personal Fuchsia Original Filofax – polkadotparadiso()

  • Pingback: Budget planning in my Filofax: an update – Polkadotparadiso()