Budget Box System
- The budget box is a small box with dividers for each day of the month, with one divider for each day of the month.
- When you receive a bill, check the due date and place it behind the divider that represents the bill’s due date. As you receive income, pay all bills that are due.
Computer System
- If you have access to a personal computer, you can create your own spreadsheet.
- You may also want to purchase a personal finance program. They are available for less than $75.
- Using a computer to manage your finances is relatively simple. Once you set up the system, updating information is quick and easy. It is important to enter transactions frequently to truly understand your financial position.
Expense Envelope System
- This tool is useful if you pay your bills in cash each month.
- Make an envelope for each expense category, such as rent, gas, electricity, and food.
- Label the envelope with the name of the category, the amount, and the due date.
- When you receive income, divide it into the amounts to cover the expenses listed on the envelope.
- Pay bills right away so you will not be tempted to spend the money on something else.
