Seeing the over budgets at the end of the month were way more difficult to see in the beginning of my journey, knowing I was spending stupidly and going overdrawn on my checking account. Having that mind switch to "you have the money, you just spent it differently than planned" was a big breakthrough.
Thank you for explaining your closing out Budget for January; So helpful to me. Every month I learn more about how much money I need for each category. I don't feel stressed about going over because I just tweak and adjust in the next month. I have been following you for 3 years and have improved my finances immensely! You work damn hard in your BBP business and I appreciate you!
I've been cash stuffing and zero based budgeting for a few years now, but I just discovered your method in December, and I am closing out my first month! I'm so excited for this year! 🌎 rocked!
Okay Miko, hear me out: *The Budget Mom App* I love and have the budget by paycheck workbook but find myself not using it consistently. But I do use an online budget tracker that I can access on my phone and computers to input/track/plan everything to do with my budget. It may not be in the cards due to business things that I'm not aware of but I would totally pay for that!
I used to get so frustrated when I didn't balance out that I stopped trying for a long time! 😮 Here were my top 2 problems: 1. Not counting ALL 3 of our checking accounts in our rollover amount. 👎 I was only using our "main bills account," which was not accurate. We use 3 accounts. 👍 2. Not properly tracking my credit card TRANSFER payments vs. Debt payments. 👎 Credit card usage paid in full the same month is to be listed as a transfer payment. Payments made to charges in a previous month are to be listed as a debt payment. 👍 💙💜💙
Coming back to this video on Feb 10th when my tracking period ends! First time I’ll be attempting to close out and i already know my eating out category is wayyyyy over
Sorry I asked a question on yesterday video. I meant to ask on this video. If you use a credit card do you just add that into the category you have created? Which will probably show over budget
Do you pay off that credit card within the same month? If yes, then just add the category, like pet, and list the payment from your checking account as a transfer. If no, then you count the category transaction and next month when you pay it off, you track that as a debt payment. I do this every month with my Skymiles CC, so I use an entire expense tracker for it. Lemme know if you have any questions on it. 👍 💙💜💙
Is "Savings Used" an Inflow because you transferred it into your Checking account? Because, otherwise, it seems like an expense since you used/spent it. Thanks for clarifying this. 😊
Where do you come up with the monthly budget amount on the monthly budget category breakdown? The breakdown on the Paycheck Budget Tracker has different values and labels. Is there somewhere else you total the budget items from your Paycheck Budget Tracker to identify the Budget amounts for the Monthly Budget amount? For example, can you explain how you came up with the Fun/Entertainment category?
How do you track your cushion from one tracking period to the next? If I mark it as a bill labeled cushion, do I also mark that same amount as roll over for the next tracking period?
I closed out my budget and I'm over by $454 and don't know how. I included my February starting balance. If I am off by so much, does that impact my numbers from my year spending overview pages? Or does it even out over time??
Seeing the over budgets at the end of the month were way more difficult to see in the beginning of my journey, knowing I was spending stupidly and going overdrawn on my checking account. Having that mind switch to "you have the money, you just spent it differently than planned" was a big breakthrough.
Thank you for explaining your closing out Budget for January; So helpful to me. Every month I learn more about how much money I need for each category. I don't feel stressed about going over because I just tweak and adjust in the next month. I have been following you for 3 years and have improved my finances immensely! You work damn hard in your BBP business and I appreciate you!
This was great teaching, Miko. Thank you so much! 💚
I've been cash stuffing and zero based budgeting for a few years now, but I just discovered your method in December, and I am closing out my first month! I'm so excited for this year! 🌎 rocked!
I feel like the streaming services are getting a little pricey. We don’t have cable, but everything adds up so quickly.
I agree!
This is so helpful. Thank you Miko. Blessings to you all ❤
Happy Friday!
Great breakdown 🎉❤
Hi 👋 let’s close out January budget
Here watching and supporting 😊
Thank you for your support!
Okay Miko, hear me out: *The Budget Mom App* I love and have the budget by paycheck workbook but find myself not using it consistently. But I do use an online budget tracker that I can access on my phone and computers to input/track/plan everything to do with my budget. It may not be in the cards due to business things that I'm not aware of but I would totally pay for that!
Thanks Miko!
I used to get so frustrated when I didn't balance out that I stopped trying for a long time! 😮
Here were my top 2 problems:
1. Not counting ALL 3 of our checking accounts in our rollover amount. 👎
I was only using our "main bills account," which was not accurate. We use 3 accounts. 👍
2. Not properly tracking my credit card TRANSFER payments vs. Debt payments. 👎
Credit card usage paid in full the same month is to be listed as a transfer payment. Payments made to charges in a previous month are to be listed as a debt payment. 👍
💙💜💙
Coming back to this video on Feb 10th when my tracking period ends! First time I’ll be attempting to close out and i already know my eating out category is wayyyyy over
Hello Great Job
Do we add the starting balance in to the total monthly inflow?
Sorry I asked a question on yesterday video. I meant to ask on this video. If you use a credit card do you just add that into the category you have created? Which will probably show over budget
Do you pay off that credit card within the same month?
If yes, then just add the category, like pet, and list the payment from your checking account as a transfer.
If no, then you count the category transaction and next month when you pay it off, you track that as a debt payment.
I do this every month with my Skymiles CC, so I use an entire expense tracker for it.
Lemme know if you have any questions on it. 👍
💙💜💙
How do you track expenses made on the credit card? Do you use a separate tracker in addition to your checking and cash trackers?
Is "Savings Used" an Inflow because you transferred it into your Checking account? Because, otherwise, it seems like an expense since you used/spent it. Thanks for clarifying this. 😊
Where do you come up with the monthly budget amount on the monthly budget category breakdown? The breakdown on the Paycheck Budget Tracker has different values and labels. Is there somewhere else you total the budget items from your Paycheck Budget Tracker to identify the Budget amounts for the Monthly Budget amount? For example, can you explain how you came up with the Fun/Entertainment category?
Where do you account for your cash for
February cash envelopes when you go to the bank on 1/31 instead of 2/1?
❤ good evening how are you doing today ❤
How do you use reward points on your credit card if you never seem to use it?
If you DO use them, do they count as inflow against the expense?
How do you track your cushion from one tracking period to the next? If I mark it as a bill labeled cushion, do I also mark that same amount as roll over for the next tracking period?
I feel like your checking balance is off because why would you include your savings contributions in that total? Or did you subtract that $3500?
I closed out my budget and I'm over by $454 and don't know how. I included my February starting balance. If I am off by so much, does that impact my numbers from my year spending overview pages? Or does it even out over time??
Thank you Miko x