Implementing a Personal Budget
What, Why and How
Example
ATTENTION
Fixed expenses are annual, e.g. insurance premiums.
Split up the annual amount into monthly amounts to be transferred into the Fixed Expense Account.
It’s a one-time set up effort, but be careful not to let things slip in transition.
Choose bank accounts that have no fall-below fees. (Fees charged if your average account balance that month is not above a certain amount.)
Download MoneyOwl budgeting spreadsheet here.