Budgeting Tips With Denali Canning

Homesteading is all about saving money and budgeting. Many homesteaders want to live more sustainably and save money but what are some good ways to start? 

How To Budget

You can create a budget many ways, by yourself, or using budgeting services to help you out. Budgeting is not a quick process at all when you first get started. There are several steps you should follow in order to make your first budget. Once your budget is written down, you will constantly be reviewing and making changes as time goes on. The first step in creating your budget is to gather all your bills, any income information, and any savings information.

Next you need to list your fixed expenses, these are your payments that are recurring and will not change for example: cell phone bill, student loan, car payment, things like that. List all of these fixed expenses and total them. 

Then there's your variable monthly expenses (utility bills, credit cards, i.e), these are harder to put the exact number down because they are always changing so just ballpark it and you’ll be able to get a more accurate number over time. On top of these there's also your other regular expenses such as groceries and things of that nature. These expenses can be limitless and are different for everyone. Try and come up with an amount that seems reasonable. 

Finally you want to add all the categories together and come up with a total expense number. Next to it, write down your total income. If your income is higher than your expenses you're already off to a good start! If it's the other way around then you need budgeting more than you thought. Don’t be disappointed. Making a budget, and getting into the habit of checking coupons or sites for savings will help you plan your money better. You can keep track of this in many ways. I suggest something like a google sheet to keep everything organized.

Inspired by: Acre Homestead

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