My budget for August has not changed a lot in the last months. I don’t expect any changes in the upcoming months.
The steps I take to setup my budget
1. I list my expenses
Every month I start with listing my expenses by looking at the month before. In August there is one change in my budget:
- Gym membership has been increased to €21,66. Last month it was €10,48 because the gym was not opened the full month.
2. Then I list my sinking funds & jars
In August I will make use of my sinking fund Birthdays to buy a gift for my oldest brothers birthday.
|Sinking fund||Budgeted||Date||Total Amount|
In August I will make use of my money jars as usual. I will be buying my groceries more in bulk and hope this will make a difference in my budget.
|Money Jars||Budgeted Amount||Date||Total Amount|
3. Check my debt
Every month I pay the minimal amount towards my debt €59,71. I will pay an extra amount of €900,- towards my student loan. At the beginning of the month my balance was €3.485,86.
|Month||Monthly payment||Total debt amount||Percentage (%)|
4. Check my emergency fund
My emergency fund is filled and I haven’t made use of it. So I don’t need to add to my emergency fund.
Have you setup your budget for August?
Read my previous post about how my debt free journey is going here.