Debt Free | Step Two "The Budget"

Updated: Oct 23, 2018

Step Two: "The Budget"

So most people don't like the word "Budget" because they think that their life of fun is over!! Well I'm here to tell you that its not!

YOUR budget is whatever YOU want to spend your money on. It's just a way to tell YOUR money what to do and where to go.

Just look at it like this, theres no way you can do anything with purpose without having a plan and writing it down. A run marathon, weight loss,

"It's time to stop "Just Living" and start "Living with a Purpose" well financially speaking!"
  • Write out your budget for the next month. Don’t think big scary budget!!! Budgets help you figure out where your money goes monthly! This will take a few months to perfect, but writing a budget monthly will help you keep track monthly and help you find extra money to get out of debt sooner.

  • Don’t write a generic budget for all months because every monthly is different. You may need to travel in 2 month, add that to your budget for that month. Also write your budget a few days before the month begins. You usually have an idea of what needs to happen with your money by then.

  • Some things in your budget are fixed, rent, car payment, etc.. But other bills will not be, like electric, gas, food etc.. The holidays are coming up so be sure to budget for extra food and gifts.

  • Write a category for each area in your budget, housing , utilities, transportation, clothing etc...

  • Check your bank statements to find out average amounts for things like electric bills, insurance, food, etc..

  • Be sure to include things like target runs, travel, clothing and any other things you spend money on.

  • Then add up all of your totals to find out your total monthly budget. The total may surprise you!

This is a "Sample Budget" to show you how I write my monthly budget. Total all bills and don't forget to add the amount needed to become "debt free" in this case it's the $1250.00

Take a few days to get your budget written out, don't worry if its not perfect because it will take a few months to figure out where your money is going.

Please let me know if you have any questions!


Share Allen REALTOR®


I'm not claiming to be a financial expert, I'm just using the information that I've learned over the years to help myself and hopefully others to get out of debt. So if you find that I have missed something or you would like to add something, please leave a comment. Thanks



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