Hi guys! If you’ve been following me on Instagram, you know that one of the things that I stress is the importance of balancing and rebalancing your budget often. Your budget is not like a Ronco Rotisserie (do y’all remember those?). It is not a “set it and forget it” sort of thing, especially if there’s the potential for your income to fluctuate. One of the easiest (and fastest) ways I’ve learned to rebalance is to look at percentages rather than actual dollar amounts to determine whether I’m still on track to meet my financial goals. There are certain rules of thumb that I’ve found work the best for me to avoid high recurring living expenses while simultaneously aggressively invest toward retirement, remain on track to pay off my mortgage early, still live quite comfortably (I also still shop at all my favorite stores, have Starbucks, and take time off often) and do it all on one income. Here are the guidelines that I follow that allow me to do this.
Continue reading “Creating a Budget That Works and Checking It Often”
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