Single & Budgeting


budgetingIf you are one of the lucky ones that receives a regular child support check and has a great relationship with your ex or let’s say your parenting partner, then I applaud you, but forgive me if the thought of a regular check makes me laugh as I have been fighting the fight for several years now. I have learned to budget and hopefully I can give you some tips too.

I learned quickly that I needed help in the financial department. I took a course at my church, but it can be taken any where even on line and the course really helped me look at where my money was going. Dave Ramseys Financial Peace University.

I needed an accountability partner. Now my first thought was if I wanted a partner I wouldn’t be single right?  But I needed someone who I would have to talk to about major purchases.

Think about it, when you live alone, you buy what you want when you want it. There is no one asking where the money went and while this can be nice, it can also get you into a world of financial trouble.

I have included a basic spreadsheet you get you on your way. You will notice the type in blue needs to be corrected with your information such as income and expenses. Start off in cells B3 and B4 and enter your income.

Then begin entering your expenses in cell E3. You will notice my spreadsheet only refers to Net Income and Expenses because that is what I am concerned with. All I want to deal with is my net income so that I know exactly what I have to work with.

On the right hand side of the spreadsheet you will see a monthly amount. This just gives you an idea of what percentage you should be spending verses what you are spending. Enter your monthly expenses beginning in L7.

Create or a spreadsheet or download mine here for free or use anything that you find useful on the web and for the first month write down every dollar you spend on everything and I mean everything. Don’t cheat yourself by not being honest with yourself.

Things have to change now that you are single.


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