How to create your budget explainer video

 

If you want to manage your money better this year, I have great news! Today, I’ll share exactly how to budget step by step.

The Different Budgeting Methods

 

50/30/20 Budget Method

  • 50% needs
  • 30% wants
  • 20% savings and investments

 

Pay Yourself First Budget Method

You set aside some money towards your savings or investments and then spend whatever is left

“Don’t save what is left after spending, but spend what is left after saving”

How to set up a budget

  1. Go into Billroo and write down your expected expenses per month for each category
    1. Examples:
    2. Income:
      1. Salary
      2. Side hustle
      3. Interest
      4. Dividends
      5. Rent
    3. The budget expense categories:
      • Rent/ Mortgage
      • Misc
      • Eating out
      • Groceries
      • Transport
      • Travel
      • Subscriptions
      • Clothes
      • Entertainment
      • Beauty
      • Gifts
      • Telco and utilities
      • Car
      • Gym
      • Healthcare
    • The budget savings categories:
      • Investments
      • Superannuation/ Retirement
      • Savings
    • The budget debt categories
      • Mortgage
      • Credit cards
      • Car loan
      • Student loans
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