Budgeting 101

Building your Budget

The 5 - Step Budget

A budget is simply a plan for your money. Oftentimes, the hardest part of budgeting is usually sitting down to do it, so we like to make this process as enjoyable as possible. Maybe you light a candle, grab your favorite beverage, etc. There are two parts to budgeting: 1) track your current money habits and 2) creating a new money plan. Use the steps below to guide you in this proces:

Track income and Expenses to Build Awareness

Have frequent money check-ins

Create Budget Buckets

Define your financial goals and values

Reflect on your values and spending

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Cotextualize your topic

Step 1: Define your Financial Goals and Values

Identify your values, understand what is most important to you financially.

Start with your "why"

Set CLEAR financial goals. Write down three specific goals.

Financial wellness begins with understanding your values and goals. Your "why" will guide you through challenges. Everyone’s values and goals are unique, and that's okay! Once you identify your values, set 3 key financial goals to stay focused and make informed decisions for long-term financial health.

Create a plan. Use your goals to guide your budget.

Stay accountable. Regularly review and adjust your goals and progress to stay on track.

Step 2: Track Income and Expenses to Build Awareness

Income

Wants

List all sources of income (salary, side gigs, passive income).

Where do you value spending your money? Are there larger wants (new car!) you’re saving up for?

Expenses

Repay Debt

Add up & categorize your expected monthly expenses (needs)

Repay Debts - Consider the interest, your career goals/plans and your values

Compare

Automate, Monitor & Adjust

Compare your income to your expenses. Do you have enough? Just enough? Do you have overflow?

Find a system that works for you with budgeting, you could use apps, spreadsheets, journal or even automate! More on this in the following steps!

Savings

Prioritize your savings, build your emergency/opportunity funds

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Step 3: Reflect

Reflect on your values and spending

• Understanding your spending behavior helps you make informed changes.
• Reflection reveals whether you’re on track with your financial goals.

Action Steps:

• Analyze your spending patterns: Are they aligned with your values and goals?
• Identify any habits or purchases that don’t serve your long-term goals.

Step 4: Create Budgeting Buckets

• Based on where you are currently AND where you’d like to go, create “buckets/vaults” for your spending and saving based on a realistic goal for each category.
• To create your buckets, group common expenses into a few categories (some examples below!)
• Remember to include a bucket for fun money!

Align your budget with values and goals!!

Debt Pay-off

Wants

Savings

Needs

• Rent
• Groceries

• Health Insurance
• Medicine

• Eating out

• Travel
• Netflix
• New outfits

• 3 -6 months emergency savings
• saving for big goals (i.e., new car)

extra debt payments, like:

• credit card debt
• car loans
• student loans

Mone Dates!

Step 5: Have Frequent Money Check-Ins

Money Check-Ins are Key Part of Self-Care & Wellness !

• Schedule regular check-ins (weekly or monthly) to review your budget.
• Track your progress, make adjustments, and stay accountable.
• Keep your goals in focus to stay motivated and on track.

Got an idea?

Let the communication flow!

With Genially templates, you can include visual resources to wow your audience. You can also highlight a particular sentence or piece of information so that it sticks in your audience’s minds, or even embed external content to surprise them: Whatever you like! Do you need more reasons to create dynamic content? No problem! 90% of the information we assimilate is received through sight and, what’s more, we retain 42% more information when the content moves.

• Generate experiences with your content.
• It’s got the Wow effect. Very Wow.
• Make sure your audience remembers the message.

Got an idea?

Let the communication flow!

With Genially templates, you can include visual resources to wow your audience. You can also highlight a particular sentence or piece of information so that it sticks in your audience’s minds, or even embed external content to surprise them: Whatever you like! Do you need more reasons to create dynamic content? No problem! 90% of the information we assimilate is received through sight and, what’s more, we retain 42% more information when the content moves.

• Generate experiences with your content.
• It’s got the Wow effect. Very Wow.
• Make sure your audience remembers the message.

Got an idea?

Let the communication flow!

With Genially templates, you can include visual resources to wow your audience. You can also highlight a particular sentence or piece of information so that it sticks in your audience’s minds, or even embed external content to surprise them: Whatever you like! Do you need more reasons to create dynamic content? No problem! 90% of the information we assimilate is received through sight and, what’s more, we retain 42% more information when the content moves.

• Generate experiences with your content.
• It’s got the Wow effect. Very Wow.
• Make sure your audience remembers the message.

Got an idea?

Let the communication flow!

With Genially templates, you can include visual resources to wow your audience. You can also highlight a particular sentence or piece of information so that it sticks in your audience’s minds, or even embed external content to surprise them: Whatever you like! Do you need more reasons to create dynamic content? No problem! 90% of the information we assimilate is received through sight and, what’s more, we retain 42% more information when the content moves.

• Generate experiences with your content.
• It’s got the Wow effect. Very Wow.
• Make sure your audience remembers the message.

Got an idea?

Let the communication flow!

With Genially templates, you can include visual resources to wow your audience. You can also highlight a particular sentence or piece of information so that it sticks in your audience’s minds, or even embed external content to surprise them: Whatever you like! Do you need more reasons to create dynamic content? No problem! 90% of the information we assimilate is received through sight and, what’s more, we retain 42% more information when the content moves.

• Generate experiences with your content.
• It’s got the Wow effect. Very Wow.
• Make sure your audience remembers the message.

Got an idea?

Let the communication flow!

With Genially templates, you can include visual resources to wow your audience. You can also highlight a particular sentence or piece of information so that it sticks in your audience’s minds, or even embed external content to surprise them: Whatever you like! Do you need more reasons to create dynamic content? No problem! 90% of the information we assimilate is received through sight and, what’s more, we retain 42% more information when the content moves.

• Generate experiences with your content.
• It’s got the Wow effect. Very Wow.
• Make sure your audience remembers the message.

Got an idea?

Let the communication flow!

With Genially templates, you can include visual resources to wow your audience. You can also highlight a particular sentence or piece of information so that it sticks in your audience’s minds, or even embed external content to surprise them: Whatever you like! Do you need more reasons to create dynamic content? No problem! 90% of the information we assimilate is received through sight and, what’s more, we retain 42% more information when the content moves.

• Generate experiences with your content.
• It’s got the Wow effect. Very Wow.
• Make sure your audience remembers the message.