![]() Shopping (Is it realistic to say you’re going to go the next 6 months without shopping? If not, work it into your budget), etc.Personal care (Acupuncture? Barber? Nail salon?).This also includes things you may not necessarily think to budget for: Unrealistic goals now will likely compromise the overall benefits of setting budgets in the first place, making other goals around savings or reducing debt more difficult – bummer! ![]() If Mint shows you generally spend $600 per month on food and you reduce this part of your budget by half – take a moment to think about the kind of commitment this requires. Mint can automatically recognize a lot of these, but do a quick review and make sure they’re all there! Step 3: Check the categories that are variable expensesĪcross various categories, your budget may change month-to-month, so this is where you will find wiggle room in your spending and cash flow – but be realistic with yourself. Look at the other categories that may be the same – car payment, utilities, cable. If you pay rent or a mortgage and it’s the same amount every month, check to make sure this is reflected accurately in your budget. Step 2: Check the budget categories that have fixed expenses To adjust the total amount of income you expect in the current month by clicking the arrows left or right or clicking on edit. Pro Tip: Mint goes by the date the income comes in – if you get paid on the 31st but you want that to count toward the next month’s budget, you can adjust the date on the transaction level. Base your budget on your take home pay (aka, what actually ends up in your checking account) each month. ![]() Now, let’s walk through a few tips for optimizing budgets in Mint: Step 1: Know exactly how much you bring in … really! Once these accounts are linked, head over to budgets and Mint will already have a view of what your current spending looks like in budget form. Whether you’ve recently decided to upgrade your budgeting spreadsheet to something a bit more automated or you just landed your first job out of college and know you need to get more serious about your money, you’ve come to the right place.īefore starting a budget, log in and make sure all of your accounts are linked to Mint – especially the ones you use on a regular basis (ahem, credit cards included). ![]()
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