Ringside Sheets

A spending plan is an effective way to manage your money. Let me explain. You’re probably familiar with a traditional budget, where you enter your income and expenses month after month. A spending plan is different and the way it’s structured. Instead of entering your information every single month, you’ll enter all of your information upfront at the beginning of the year or whenever you start using the plan. That means that all of your income, expenses, and savings are entered for each date that you expect to either receive them or spend that money. What this does is gives you a full year picture of your finances. You’ll be able to see Lowercase your current balance in your account for any day of the year in advance. Let’s use today as an example. This article is being published on April 7 if you filled out your spending plan for the entire year that means you’ll be able to see today what you’re expected balance will be on Thanksgiving day or Christmas Day or New Year’s Eve whenever y...

We all know how much our hourly or salary pay is at work, right? I mean, it's easy to know you earn $60,000 per year or $28.84/hour. But, do you know exactly how much of that is bring-home money?  Today, I'm going to show you an easy-to-use method for determining your bring-home pay amount. All you need is a blank spreadsheet to do this. You'll be able to complete this in less than 5 minutes. The reason it's important to do this is to know how much money you have available to spend. As you know, salary and spendable income are not the same amount. Once you've got your Google Sheets spreadsheet opened, what you'll do is enter the amount you bring home every paycheck. You'll want to enter the number in two different rows and include your pay dates as well. Then you'll fill down for the rest of the year. Just like I covered in the video above. You'll do this for every source of income that you have. It is best to estimate low for income, so if you'r...

When you first start out with a written budget, it's exciting because maybe for the first time in your life, you see real possibilities. You begin to imagine what a life without debt might look like. Whereas before you might have been resigned to the idea that you'll always be in debt, once you create a written plan, those old ideas begin to change. When you pay off your first debt completely, you realize that the plan works. It's a really exciting time! Then you pay off your next smallest, debt, and you begin to see the light at the end of the tunnel. It's faint and way off in the distance, but it's definitely there. It's important to remember that this is in fact a journey. The beginning is great, but as in any journey, there will be peaks and valleys. When you're in the valleys, remember that while you may have acquired your debt in a day, it takes time and dedication to the plan to get out of debt. Don't get frustrated if it isn't moving fast eno...