SHARPEN THAT PENCIL!
• Record both fixed income and ex- penses. Don't forget to check all your withdrawals.
• Identify variable expenses. This can be a bit tedious, but it's important that you do it. Download an app to keep track of everything.
• If, after subtracting your expenses from your income, you get red numbers, turn on "IMF mode" and decide where you'll make the next cuts. Always make sure there is something left over.
• Don't forget to check it. It is not uncommon for unforeseen events to necessitate changes to the budget. The important thing is that it reflects your needs and, more importantly, that you can meet them.
If you find this too complicated, opt for a simple method that all grandmothers know:
the envelope method. When you've done your expenses and put aside some money for savings, divide the rest of the money and put it in 4 envelopes. Each week you can have fun with the money in one enve- lope, there's no trick to it. When it's gone, it's gone, and if there's any left, there's some left.
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