8 Habits of Financially Smart Women – Sequins and Sales
Now there are a ton of free printable budget templates, but I personally think keeping one that’s more easy to update is the way to go. Using an Excel chart is a great way to do so because the formulas will auto-populate! I had to learn a lot of skills for my major (even though I massively sucked at most of them), but YouTube is your FRIEND. I had to take an Excel test for my current position and was told beforehand to prepare. You can BET that I spent hours practicing!
I do want to set y’all on the right track though, so I wanted to create free printable budget sheets for you to utilize! I would suggest starting here and then moving onto an Excel chart where you can have everything totaled up.
If you’re a beginner, here are a few Excel tips for a budget chart:
- If you want to create a total row, use this formula: “=SUM(”
- In order to total everything in that row or column, drag your mouse across the cells you want to select, then hit “)” and enter!
- If you want to make a number in a column an expense, add this: “–” to the front of the number!
- I also like to use conditional formatting to make it red so I know it’s not revenue/income.
- A tip for using the =VLOOKUP function is to go to the Formulas bar at the top! I still hate trying to remember everything to type in, but the nice part of Excel is they can prompt you through most formulas you’re trying to create.
2. Keeps Her Spending Under Control
This is probably the most important tip here. You can’t be financially savvy if you have no money!! This was a tip I learned very quickly and one that I had to get in check in order for me to succeed. My mom has always been an amazing budgeter because she had to support herself, my sister, and I by herself. Some of the tips I’m sharing here are the items she’s taught me growing up!
These are some tips on how to get spending under control that I have learned/implemented over the last year. The first thing that is really important is to watch spending on items that are WANTS and not NEEDS. You do not need a professionally made coffee every morning on your way to work (yes, I’m mostly talking to myself here). You’ve got to stop buying things that are not life sustaining items.
That’s why I want to stress the importance of a spending plan! I decided that for this year I wouldn’t spend more than $200 on misc items each month. That includes clothes, subscriptions, movies, coffee, and eating out! January has not been easy and I really need to re-evaluate for February; however, I think starting with a game plan is the most important step in this process.
If you’ve been asking yourself, “how do i stop overspending?! These are all tips I used that taught me how to stop overspending and I think they’ll help you to do the same.
3. Has a Game Plan for Her Debt
This portion of the post is the one that metaphorically punches you in the gut. If you’re in your 20’s and don’t have debt, CONSIDER YOURSELF BLESSED. Those of us who do are out here cutting out everything we love to get rid of it. That being said, the most important thing to do when it comes to your debt is to have a game plan! I have every dollar I make from my side hustle this year going towards my student loan debt.
I also created a spending plan (that I mentioned earlier) and in that I decided any additional income from my paycheck (that doesn’t go to rent, bills, or other items) will go into my savings. That way I’m building my savings as well as paying off my debt! The reason I’m trying to do both is that in case something happens and 1) I get fired from my job or 2) I can no longer work, I will have a cushion.
