Your budget can change quickly.
You can plan everything out but sometimes expenses come up and things can change. Or maybe you don’t spend as much as you were planning and have extra money you might be able to save or use to pay down debt.
As proactive as you should be with your initial budgeting process, you should never discount how well a 5-minute budget check in can keep you on your financial track.
Not only will it help you stay on track during the month, but ultimately it helps you stay proactive with your financial future. It shouldn’t replace your monthly budgeting process, but it helps you know where you are throughout the month.
Outside of using an Excel-based budget template (bonus: here are 35+ budget worksheet options I’ve checked out that you can potentially use), this check-in is something that my wife and I have used for years to help us stay on track and know where we stand. [Read more…]