How do you budget?
A recent survey by Debt.com found that an overwhelming 92% of respondents believed everyone needs a budget. A follow up question revealed that 70% did, in fact, themselves have a budget (if that 70% seems high please note that about a quarter of those who say they budget “just do it in their head.” We’re not sure that exactly qualifies.)
Eagle-eyed readers may note a sizable gap between 92% and 70%. If almost all of us know we should have one, why don’t we? Well, it seems like it will be hard. It seems like no fun. It seems a lot like being told to eat your vegetables when you were a kid.
That’s why we try to make budgeting easy and painless. Don’t look at a budget as a strict set of rules you have to follow or else! It’s a starting point, a guideline, and a way to measure how you’re doing month-to-month. You need to understand where the money you bring in every month is going and make sure you’re making it count.
Budgeting with BrightDime starts with seeing where you spend on average across different categories, helping you set realistic goals that take into account your actual spending patterns. We also show you how your total budget adds up in comparison to your monthly income as you make progress on completing it. Start with your big fixed expenses like rent or mortgage, car payments, and bills and then fill in the discretionary spending like going out to eat or shopping later.
Need help? Just login to your BrightDime account and start chatting with a coach!