With my husband going back to school, loads of my school debt and only working part time we do not have much wiggle room.
In order to keep everything straight I have needed to get on top of my bills and budget.
Spending under $10.00 at the dollar store I was able to get everything I need to keep our finances in order.
Free Budget Printables to Take Control of Your Finances
What you need:
- Colored pens. Blue or black would be fine but I like using different colors it makes it easier to see and it’s more fun.
- Binder. I created a custom cover in word.
- Calculator or you can do the calculations longhand.
- Dividers. We have a lot of bills so we needed two packs. One section for each bill.
- 3 hole punch. To keep all of the bills in the binder.
- Sticky Notes or tabbies. These are optional but it is good to flag things if necessary.
How to set up your binder:
You can set up you binder any which way you choose but I have the following printables in the front Debt Statement Sheet, Monthly Bills, Income Tracker, Balance It and a section for each bill with the Month Bill Recorder in each spot.
Download – Debt Statement Sheet. This one file contains all of the forms below.
Debt Statement Sheet.
Filling out this sheet is the hardest part of the entire exercise. You need to get all of the information of the debts you owe (including personal loans).
I arranged my sheet by date as I find that easiest but if you want to use these printables to knock out debt fast you may arrange them from smallest – largest amounts.
You may be wondering why we are writing out all of our debts again. I like to think of this sheet as the snapshot tracker sheet.
When I get my bills in the mail I enter them here right away and then 3 hold punch them and place them in their divider.
That way if I am busy working or with my daughter I have the information written down to pay later.
Monthly Bill Recorder.
I have one of these sheets to represent each bill I pay. Once a week I go through the Monthly Bills sheet and transfer the information to each section.
I can then track when I pay it and how much.
Let’s be honest sometimes life happens and not all the bills can be paid in full, by tracking which ones you are a little short on you can keep track of it.
The last thing you want to do is ruin your credit score because you shorted the cable bill 6 months in a row.
Hopefully, you can pay extra and it is good to track that as well.
We also use this Free Financial Planner.
My husband delivers pizza some evenings to make extra money.
We see a huge difference when he tracks the money he makes on the Income Tracker.
When we didn’t keep track of it we saw it as extra cash not money needed to pay bills.
If you work in a job that makes tips enter then here.
You will be surprised how quickly it adds up.
Balance It Up. Ins and Outs.
Do what you wish with the Balance It Up sheet.
I like to go back at the end of the month to ‘see how we did’.
You might like to fill out the sheet at the beginning of each month so you have a game plan.
As we do not have a set amount we are paid each month I find it difficult to do in the beginning.
How do you keep track of your finances? Or perhaps learning how to Pay off your Debt now so you can Retire is an ambition of yours?
Let me know in the comments.