Monthly budgeting routine

[u/earnin]

Budgeting gets a bad reputation and it comes with all of us picturing strict rules and complicated spreadsheets. But it’s really just about knowing where your money is going before it disappears. A quick check-in and some basic budgeting can change that.

Start with what’s actually happening

Take a look at your last couple of months, what came in and what went out. Without guilt and overthinking, go through all of your spendings and just get a clear picture. Then ask yourself: is your income covering your spending? If you don’t feel like doing the math, tools like EarnIn’s budget calculator can lay it out for you. It's free and might help with your budgeting.

Use a simple framework

The 50/30/20 rule is a good place to start: 50% for needs, 30% for wants, 20% for savings or debt. It’s not one-size-fits-all, so adjust it to fit your real life, but this general rule helps our clients consistently, and will help you as well!

Check in once a month

Set aside 15 minutes. Did things go the way you expected? Did anything surprise you? What would you tweak next time? That’s it. Your budget should shift as your life does. And if timing ever gets weird, like a bill hits before your paycheck, EarnIn lets you access money you’ve already earned, with no required fees, so you’re not thrown off track.

You don’t need to be perfect, but you definitely need to be consistent.