Free Resources:

Episode 15 Podcast Outline: My Monthly Budget Routine

Introduction

Brief recap of the January budgeting series so far and a reminder about the free resources available (budgeting checklist and expense tracker).
Teaser: Today, I’m walking you through my exact monthly budget routine. This is the system I use to stay on track, reduce stress, and make progress toward my financial goals. Ready to take control of your month? Let’s dive in!

Segment 1: Setting the Stage

Importance of having a consistent monthly budgeting routine:
Keeps you proactive instead of reactive.
Builds financial confidence.
Helps you stay aligned with your goals.
Ideal timing: I do my budget routine on the first of the month or the last day of the previous month and do tracking 1x per week. Personal is 1-2x per week. Find a time that works best for you.
Tools needed: digital tracker (e.g., Google Sheets), a notebook, or an app.

Segment 2: Step 1 - Review the Previous Month(s)

Start by assessing the prior month’s income and expenses:
Compare actual spending to your budgeted amounts.
Identify areas where you overspent or underspent.
Reflect on any unexpected expenses and how they impacted your budget.
Example: Last month, I spent $50 more on supplies than planned, but I also saved $75 on marketing costs.
Pro tip: Use color-coding in your tracker to highlight trends.

Segment 3: Step 2 - Plan for the New Month

Segment 4: Step 3 - Set Your Monthly Goals

Segment 5: Step 4 - Track Weekly Progress

Importance of checking in weekly:
Prevents overspending.
Helps you course-correct mid-month.
Quick tasks for weekly reviews:
Log all income and expenses onto a sheet
Update your tracker or app.
Adjust your budget if necessary.
Example: If you earn $200 extra in tips, decide how to allocate it immediately—savings, debt, or a fun purchase. - I save all my tips for something for myself.

Segment 6: Step 5 - Celebrate and Reflect

Celebrate small wins: Did you stick to your budget? Save more than expected? Pay off debt? Acknowledge your progress.
Reflect on challenges:
What worked well?
What could you improve next month?
Reminder: Budgeting is a journey, not a sprint. Give yourself grace while staying consistent.

Conclusion

Recap the steps of the monthly budget routine:
Review the previous month.
Plan for the new month.
Set your monthly goals.
Track weekly progress.
Celebrate and reflect.
Actionable takeaway: Block out time for your own budget routine this month and commit to doing it every month moving forward.
Reminder about the free resources available:
Budgeting checklist and expense tracker (link in the show notes).
Teaser for next week’s bonus episode: We’ll be diving into personal budgeting tips for independent stylists. Don’t miss it!

The Budgeting Series Pt 3: The Routine That Will Set You FREE!