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Hey everybody, it’s Bucky here, top dollar home offer, We Buy Houses Now Tulsa and we help homeowners when they say, I need to sell my house fast. We are doing a series on budget breaking debt and today’s topic, we’ve been going through four or five different parts, talking about the spiritual mindset, talking about the steps to get into getting out of the debt cycle. And today’s topic, we’re going to break down a little more technical on the technical side of things. I have a free spreadsheet that you can download. I’ll put different versions up there for you depending on how your income comes in and we can talk about those. But in order to understand where you’re heading each month, you need to keep tallies on where you’re at. You know, businesses do this every month they do a P andL on a financial statement, or at least every quarter they should.

So that being said, as you as an individual, as a household, you should have a working ongoing budget that you go back to and reference and make sure that your spending stays in line with what your goals are. You know, there’s nothing wrong with spending money, it’s just where you want to spend that money. We talked early on about we help people when they need to, you know, sell my house fast. They often are in a financial crisis. So to break this down, to get started, we shot a series of videos before this and one of those included understanding where your money went, right? Wherever your money goes We Buy Houses Now Tulsa, that’s where your heart is. So if you looked at your last three months of statements, and hopefully you’ve done that by now, and if you haven’t, that’s the first step in order, in order to create your first budget is to know exactly where your money’s going.

So if you haven’t done that, pull down all your credit cards, pull down all your bank statements and dump them into one spreadsheet. And we talked about how to do that. But basically what you want to do is put them into one spreadsheet, categorize them as some top level categories, and then we’re going to put those categories on this budget sheet, right? So we help people when they have to say, I need to sell my house fast. And today we’re going to show you how to put your financial matters back on track by creating a budget spreadsheet here. So I’m going to draw a spreadsheet out on the board here so we can talk about what it contains and what should it contain. And then you can actually go to top dollar home, offer.com and download the free spreadsheet there. So I’ll put a series of spreadsheets in there. So you can have one depending on how your income comes. If you have a flexible income that’s mainly commission-based, or if you have a, you know, an income that comes in every month or every two weeks or every week or biweekly. Is it a, it really doesn’t matter. But the, the principle this is, is knowing when and how often you get paid. That way we can set up the spreadsheet quarterly. Okay. So let’s just try to draw out of big box here. So I’m going to draw out a huge spreadsheet here. Okay?

And we’re going to call this a, the top dollar.

You know, sell my house fast, right.

We Buy Houses Now Tulsa
Besides buying houses, we want to be able to give back. So one of that, one of the ways we give back is not only helping people repair their credit, but helping them get back on financial, uh, the right track. In other words. So here’s our spreadsheet. We need some, uh, rows. These are called rows down here, over here, these are called columns. So in this first column, we need to put in the name right, the name of the budget, right? The budget item. So we’ll put the budget item in there We Buy Houses Now Tulsa. Okay? So for example, we talked about our spiritual self. So always the number one thing on this side you should put is the tie. All right? Okay. And that should be 10%. So in this category we can do a percent and we’ll talk about how to calculate that. You don’t even have to calculate it, just, just open up the spreadsheet, start putting your numbers in.

So we’ve got our percent and then we’re actually gonna have, you know, say January, February. Okay. For example. So what we’re going to do is start creating these, the categories here and then put our rows over here and our rows are [inaudible] dictated by how often do you get paid. Okay? So for example, if you get paid once a month, then you’ll just have January, February. If you get paid twice a month, you’ll have January and January, right? So whether it’s the first or the 15th okay. Some people will get paid biweekly, meaning, um, you know, there’s 50 or 53 weeks of the year. So you get paid, you know, there’s basically 13 weeks, so you’ll get paid or 26 weeks, you’ll get paid that many times across the year. So you just put the date of payday, right? So whether We Buy Houses Now Tulsa it’s a 15th and 23rd, you know, the 30th whatever, those paint AIDS.

So the rest of the columns should be the date you get paid. In other words, okay, if you’re a commission-based person or if you have just random income coming in, then I would suggest just the lockdown either on a weekly basis or just judge how often you get paid. And it’s important to know how often do you get paid. So we can put the right money to the bills that are due at that appropriate time. In other words, okay, so we want to get the tie first. The next thing we want to do is our housing, right? And this is going to be our mortgage

or rent, you know, depending of your rent. Okay? So we all have to have a place to, to live. We have to have a place to put her head. So that’s important. So we want to know what that percent rate is too. So you know, if you’re buying a house, it shouldn’t be over 30% so it doesn’t matter about the percentages. Now we want to get all the categories down here We Buy Houses Now Tulsa. Then you can see yourself, see for yourself what percentage you’re putting your money and where. Okay, so once we have our housing, mortgage, and rent, then we need to do our utilities, right? And let’s just, what we’re going to put in, we’ve talked about this in bit or we’re going to put our water because we have to have water, shower or water. Trash are typically together, our electric and gas. And so if you’re on propane, that’s fine.

Your electric, if you’re on propane, you might want to prorate that out into an account that you, you know, pay into. Then when the propane bill comes in, your tanks empty. You can just pay it all at once for your gas and electric. If you don’t have it on level pay, if you need that option, then you can put your gas and electric on basically a level pay. So they take your annual, you know, last year or two of total bill and divided by 12 giving you an flat rate annually or every month that you can pay into that. Okay, so this is another category. Okay, so now that we’ve got our housing covered, where are we going to lay your head? The ability to stay there comfortably. Right? We need food, right? So food. So, you know, most people buy groceries, a lot of people eat out, right? So you need to have these two categories depending on where you’re at.

So eat out or food for at home, okay? Those are the two main. So you know, number one, number two, number three, number four, number five, right? The rest of the categories below, we’re going to start listing off, right? So if you have, you know, say a student loan, okay? Or if you have, um, a car payment and if you have, I don’t know, whatever else We Buy Houses Now Tulsa. So you would list down all these categories, you know, like school expenses for children, and then, you know, [inaudible] personal expenses, right? Okay. Each person in the household ought to have a budget for the map that they can just spend freely without having to be accounted for. So let’s just say, you know, the dad or the mall or the husband, whatever. So as you go through all those categories that you did by looking back at your last several months of expenditures, this will tell you exactly the categories to list here, right?

And mainly just put these, these four top four on there first and then the rest of them you’ll drop in here. Because the goal obviously is not to live in debt, right? So you want to get rid of your student loans, you want to get rid of your car payment, you’re always going to have living expenses. You’re always going have the food expenses. Hey, you’re probably going to have other personal random expenses, you know, transportation, you know, costs. So lot of car costs, like gas repairs, you know, maintenance, those things. And then if you own a home, you want to be sure to have home repair We Buy Houses Now Tulsa. Okay? So the idea behind this is to get all those categories that you pulled together and put them on here. And then once you put them on here, then what we’re going to do is actually put a income line down here.

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