This Section presents a short overview for learning how to create a budget that works.  To get started, a number of course materials have been included and introduced to insure the most success.   Downloadable course materials at the beginning of this course included a copy of The Budget Kit 6 Ed. eBook along with numerous printable PDF worksheets and a Budget Kit Excel Spreadsheet Package. 

Even if you are now working with other budgeting software or apps, the real point is to listen for the powerful CORE CONCEPTS being discussed and graphically shown with the various worksheets. Then apply this information to your software or apps as you continue to set up and use your other resources. There are always new resources coming out every year. The Core Concepts are still consistent and timeless.

Throughout this course there will be Power Point slides to go with all the videos. Please download those slides before you start the video and then follow along when I refer to a particular slide. Look for the link with the slides at the bottom of each lesson. Just watch for the “pptx” at the end.

Also, during the video presentation there may be references to "chapters" or other terms that are now all known as STEPS.

Before moving on to learning a new habit or way of doing something, if often helps to have a better understanding of how this subject or way of doing something, was or was not handled in the past. There is a quick review of what techniques or behaviors were used effectively and not so effectively in the past by others.

While discussing different forms of income, "Variable Income" (Gig jobs, Commissions, Settlements, Family money or Inheritance etc.) is discussed briefly in this section. If your source or sources of income are not fixed and vary each month, this worksheet provides a graphical explanation of a supplemental tool that could be used. This two-page "Variable Income" worksheet is included in the set of PDF worksheets found in The Budget Kit. For your convenience, you can also download it here.

This Section introduces the first of three hands-on activities for learning how to create a budget that works and discover the missing link that may have been missing with all previous attempts at budgeting. 

The goal of this course is to help you anticipate those unexpected periodic and surprise bills throughout the year, know how to plan out each month in advance and learn where all your money is going, so you can achieve a greater sense of financial peace of mind. 

Also, during the video presentation there may be references to "chapters" or other terms that are now all known as STEPS.

The "Yearly Budget Worksheet", is introduced and explained as a concept, as well as a tool. With this tool and through this course, the missing link of periodic expenses is discussed.

Homework is given to stay actively involved in the process of identifying all the periodic expenses that derail the household budget. The homework will involve creating a plan for being proactive rather than reactive when those "surprise expenses” (aka “emergencies) keep popping up during the year.

Use this worksheet as a guideline of ideas. Then add your own different periodic expenses that best reflect your personal and household lifestyle and show up throughout the year.

As the "Yearly Budget Worksheet" homework is being completed and the concept discussed, there are additional supportive documents, or worksheets introduced. These additional documents are designed to trigger a thorough review of the potential household expenses. Included are expenses for transportation, home, health, children, activities, pets, gifts and much more to include while developing a thorough, workable budget.

If you haven't already done so, please download the worksheets from Lecture 8 "Documents for Section 3 - Course Worksheets Folder" for valuable tools to gather more comprehensive information regarding your true household and personal expenses.

The Additional Supportive Documents: 1) Suggestion List: Additional Non-Monthly Expenses 2) Gift Giving Worksheet 3) Christmas / Holiday Worksheet

You will also be gaining powerful concepts and overall understanding of that bigger financial picture (often running in the background) running in your household.

Continuing with the missing link concept and the "Yearly Budget Worksheet" tool, it’s time to discover that huge gap of overlooked expenses, while planning a workable budget.

Would you believe “Gifts” is often the most overlooked expense in a household?

Learn how to discover all those potential gift expenses for all the different events and holidays throughout the year. Then learn what to do with that information.

Homework is assigned to help get a better handle personally on these expenses and be more prepared and proactive about handling these sporadic and additional expenses as they show up throughout the year.

Also, during the video presentation there may be references to "chapters" or other terms that are now all known as STEPS.

Finally, really see and understand why so many household budgets are often running short each month, have so little to show for all the good money coming in, and why the debt never seems to go down each year. Finally, be able to put your finger on just what has been missing with previous planning and why you couldn’t seem to get a complete handle on the budget.

With this new information, learn how to create a proactive plan for anticipating those surprise periodic budget busters from the past, and master finances in general for the present and future.

Now armed with this concept and information, set up your alerts and messages using your favorite apps, software or other tools to reflect these specific upcoming expenses and savings needed.

Once again, some basic homework is assigned to help you finally get a better handle personally on these hidden yearly expenses and be more prepared and proactive about handling them.

This lecture introduces the second of three hands-on activities for learning how to create a budget that works. The focus is on developing a well-planned, realistic monthly budget that is going to allow you to “spend without guilt and save with more ease”.

This tool and concept also provides a flexible template for creating budgets for the myriad of different household financial situations. This system can be adapted, maintained and used for a lifetime, regardless of what software, app or personal system is used over the years.

Learn how to outline and anticipate a very practical and thorough monthly budget for each upcoming month and avoid those potential monthly shortfalls and crises situations.

The "Monthly Budget Worksheet" tool will be used to streamline the whole bill-paying and budget planning process, starting first with the known fixed expenses. While discussing fixed expenses and savings, the key concept of "Pay yourself first" will also be covered. Even though this is a good start to planning a budget, there are still many more expense to keep in mind. Stay tuned for more.

Find out what most budgets are missing. Learn how to outline a practical monthly budget plan that includes all those variables and often forgotten incidental expenses in a way that makes sense and provides more value.

Learn how to incorporate all the periodic expenses from Section 3, credit card payments, along with all the rest of the monthly expenses, and still be able to pull it all together in a way that makes sense and is easy to understand.  

Once all the pieces are pulled together and a clear monthly budget is outlined for the upcoming month, learn how to handle those months that could potentially run short. ​This is where you start to deliberately manage your money and still stay in control.

For those potential months that actually end up with excess funds, explore different ways to use that extra money more effectively and wisely.

This will be the time for reviewing your personal spending style, habits and attitudes. Find out how you can finally start to spend money without guilt and save money with more ease.

Don't be surprised if those impulsive budget-busting splurges and urges start to fade away.

This process of managing the bills and expenses around the income and available money seems to be one of the more challenging issues in most households.

The "Monthly Budget Worksheet" not only provides a tool for outlining a practical monthly budget, it also provides a planning guide for coordinating the timing of income with the due dates of bills and approximate times of expenses.

This lecture reviews how to be proactive versus reactive. Learn how to be prepared ahead of time step by step to know just how much money will likely be available at different times of the month to cover the various expenses at different times, regardless of your method of payment.

Read how others transformed their lives once they started using the "Monthly Budget Worksheet". Learn how they finally mastered the way they proactively and consciously handled all their monthly expenses.

Know that you can do this. You can create a successful spending plan that truly works for you.

Now it's time to address the concept of tracking expenses and identifying those spending leaks.

If you are not already tracking your expenses with some financial tool, start with the "Monthly Expense Record" tool provided for now. Tracking the spending leaks will go quickly and efficiently when using the "Monthly Expense Record" manually with the printable PDF worksheets or electronically with the Excel version of this worksheet.

These worksheets are one of the core set of worksheets from The Budget Kit workbook for creating a workable budget.

See the note below if you are already tracking expenses with another tool.

Notice the main categories and subcategories on the PDF worksheet to help you understand ways to track your spending and then modify your software.

There are twelve two-page sets of printable worksheets to cover all expenses and income for every single month. The Excel version is designed to look exactly like the print form to keep the transition smooth and convenient. The monthly tabs along the bottom of the Excel worksheet provide new monthly worksheets for recording daily expenses every month.

The most powerful tab on the bottom right for the Excel version of the "Monthly Expense Record" worksheet is the "Yearly Summary". Watch the impact of every daily entry as it changes the total yearly picture. This awareness alone has changed the spending behaviors of many households.

NOTE: USING OTHER TOOLS: If you are currently using other apps or software for tracking your expenses, that's great. Go ahead and take in the core concepts of this Step 4 and the general organized approach to expenses. Then apply those concepts and categories to your favorite tracking system.

This section introduces the third and LAST hands-on activity for learning how to create a budget that works. The focus is on finding the spending leaks. The "Monthly Expense Record" tool and concept will be used during the lectures in this section to foster a better system and mindset for tracking daily expenses during the month.

All these tools and concepts provide an adaptable template for modifying any other software, apps or personal systems being used for tracking expenses.

If you have tried tracking expenses before without much luck, listen for some new take away ideas to change your habits and mindset.

Finding the spending leaks becomes a lot easier when you learn how to understand the “Monthly Expense Record” concept and tool. Since there are many sections to this one worksheet, each section is pointed out and explained.

Of all the worksheets in The Budget Kit, this particular worksheet has been the favorite for decades. Many readers love the simplified, practical and intuitive categories that reflect most of their spending.

They also love how easy these category ideas can be applied to other software and apps they now started to use.

Even if you are already using some other apps and systems for tracking, watch for different helpful categories on the worksheets that you may want to apply to your current app.

Various common questions and concerns are also addressed here, like “How long will this take?” “What’s the easiest way to capture all this information?” “Why can’t I just keep this in my head?” “What do I do with all those receipts?” and more.

Overall, if you find yourself resisting the tracking process, this section is a reminder to ask yourself “How badly do I want to change my life?”. These tools can help make that change in your life easier.

This final discussion of the fourth step (tracking your spending leaks) reviews and compares Section 4 and Section 5. 

Section 4 explained the concept of projecting the upcoming anticipated monthly budget using the "Monthly Budget Worksheet". The monthly budget plan was basically a forecast based on records, estimates and ideas of potential expenses.

Step 4 focuses on the actual expenses that were all individually recorded for the month. During this lecture both of these activities and tools are compared and explained.

Reviewing the information will help you answer some of the questions asked, like: “Is your money going where you want it to go?” “Are you noticing ongoing spending leaks?” “Are you living within your means?”

Most importantly, you are being encouraged to review the overall spending and notice if the spending is in alignment with your overall priorities, values and goals. Also notice if you are starting to experience more financial peace of mind.

At the end, there is a review of the budgeting process with a reminder to relax and accept this as a gradual process. Know that you CAN control your finances, rather than have your finances controlling you.

Remember to JUST START. Take that first step for creating a budget that works.

Go beyond the good intentions and take action. Your major takeaway is to decide to make and take the time to do this, take action. Utilize all the valuable, powerful tools and concepts introduced in this course.

Again. DECIDE to follow through and take that critical first step. Months and years from now, you'll be so glad you did.

This final Step 5 reviews the entire program and all the four previous steps. You are encouraged to take the time to review your planning, spending and information at the end of every month. As you review this information, notice what you discover about yourself, your mindset, your spending habits and your overall household/personal financial status. Now you will finally know what that missing piece has been in the past.

This discovery of your personal style will help you determine what approach and system will work best for you. Don’t worry about how others handle these steps. Focus on what fits your personal style best. Plus, now, at last you can be clear on what that missing piece has always been for you in the past.

Now that you know, may you leave this course with a sense of NEW HOPE, CONFIDENCE, and DETERMINATION. Use these qualities to make the changes you truly want and deserve in your life!