Personal Budgeting Bests

Updated: Jun 16, 2021

Tuesday, June 1, 2021

We have finally moved around the money we already have - so now it is time to really understand what our monthly income and expense look like.

Below is a simple excel file where you plug in your income in the yellow fields as a positive number, and expense in the green fields as a negative number, and as the balance in the right column updates, at the end of the month, you see your savings in the bottom-right. It's important when trying to accomplish anything in life to visualize it. If you are trying to lose weight, write down what you eat. If you have personal goals, write them down. Its one thing to visualize in your head another to see it on paper:

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Now that we have the cash balance at the end of the month it's time to start investing. With that left over balance, decide what percentage you want to go to your HSA and what is going to go into investments. Right now I run about an even 50/50 split. This will all depend on your goals.

Congrats! You just took a step in your life that many don’t do till it's to late or never do at all! You are on your way to living a sound financial life.

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