Budget With Me | Closing My 1st Paycheck Budget in April ♥

hello everyone and welcome to my organized life where i'm trying to get my life organized if you're new to the channel a huge hello and welcome to you and if you're a returning subscriber thank you so much for returning i appreciate you so today we are going to be going through and closing april paycheck number one and i'm always really excited to do these videos i feel like i've got closing the paychecks down it's just the months i struggle with but i have very high hopes for this month um but before we get to closing the paycheck we are going to be updating my walmart mastercard transaction tracker as well as my spending tracker so we started doing this last week um so on the ninth was my first check-in where we kind of featured these two things in the videos so we're just gonna be updating those and then we'll get on to everything that we normally do and i just i wasn't really sure where to include kind of like the check-in type so i'm i'm hoping that the video won't be too long with including that but we're going to include it today and see and then we'll go from there so this is my budget binder i use the budget by paycheck workbook by the budget mom i bought the pdf version and then i added some online resources and my own flair to it to kind of make it a little bit more unique to me and suit my needs so we are going to skip to april so today is the 22nd tomorrow's payday so we're going to be closing this paycheck to get ready for that so i'm just going to pull out the sheets that i need these are just magnetic bookmarks they are super helpful to just flip to my most used pages that way i don't have to flip through a whole bunch of pages i can just use these to kind of quick flip everything that i use and then some will be linked in the description box below any stuff that i use from etsy will be in its own link and then everything i use from amazon will be in one link that will take you to my idea list that's kind of categorized in different categories there's one for budgeting one for office supplies planning that kind of thing so hopefully everything is kind of easy to find so let's see what pages do we need we need these two for sure um let's see what else i'm gonna need my transaction lock and so far i haven't even filled up an entire page for my cash spending which is what i spend the most of so that's exciting to see um i'm going to need my debit i need my savings so those are all of the pages i'm going to need for now let's go through and we'll update my walmart mastercard tracker first we're going to zoom in here i'm just going to quickly sign into my mastercard so this is already going to look really bad i'm going to warn you guys i did not do very well with my card this paycheck um and we did have some unexpected expenses that i put on my card that i probably shouldn't have but i did and i will get there eventually okay so on the 18th my photoshop came out so i budget 31 for that the price always changes because it's paid in u.s dollars so there's always a difference in the conversion amount so this time i was charged 28 and 37 cents and then on the 19th we actually noticed that mikko has a uti so mikko and stitch are my trouble cats they're going to have to start finding a job they want to keep this medical stuff up i should look into pet insurance but i'm just i'm not quite there yet i don't know if i can work that into my budget and that is something i'd like to do after i get this paid off but at this point i'm wondering if it's something i should do before but since they've both already had utis i think it's technically now a pre-existing medical condition so i don't know if it would get covered anyways i'll have to research but anyways so at the vet um i was charged 219 and okay and then on the 20th um i made a payment and this technically wasn't a payment this was just to cover my giveaway on my other channel so i put a payment of 220 on there that's to cover the prizes that i was giving away because those are coming out on the card one of the paint or one of the uh purchases isn't showing up though which is strange so the 21st i sent off one of the winners their prize and that was let's see we'll go giveaway prize and i'm just going to list here what the prize was so these were the prisma's premieres okay and this was 187 and 94 cents okay so i did make a purchase today and it's not showing up on my card which is weird because it usually shows up right away as just a pending transaction um so there's three winners for my giveaway this was one of them i have i've sent the second winner stuff off today and the third one has yet to contact me so i'm just gonna check this one and see if the price was accurate okay well since that one was right i'm gonna go ahead and just assume that this one will be correct as well so it's not showing up on my card yet but i'm going to write it down here worst case scenario i end up waiting it out later if i need to so this one was also a giveaway prize and this is um hannah lynn book and this cost 13. and 79 cents so not bad at all there i'm just curious on how much i have out of my giveaway money that i put on here left so i put 220 on there i spent 187 dollars and 94 cents and it's 13.79 okay so that means i have 18 and roughly 30 cents left for the third prize however it's going to cost a little bit more than that so that just tells me that i need to save a little bit out of my miscellaneous for tomorrow's paycheck to make sure that i can cover that cost on my card um trying to pay things off the second that i put them on the card and that's going to help me pay it down and keep it as at a reasonable balance although it's it's crazy right now okay so there's that okay so that was everything i spent so now this side i have as what's usable on my card and this that i have is what's boeing so when i make a purchase my usable amount goes down so i subtract my purchases when i make a payment my usable amount goes up so i add and then for owing it's the opposite so if i make a purchase my owing goes up so i add the purchases to this side and subtract the payments so let's see we're starting off with we'll do the usable actually let's do the owing first we're going to start off with 661.49 so we're going to add 28.37 plus the big one so 219.33 minus 220. [Music] so 187.95 plus 13.79 and then for this side we're just going to do the opposite so we're starting off with 338.51 so we are going to subtract 28.37 i'm going to subtract 2 1933 i'm going to add 220 minus 187 94 and minus 13.79 okay and then my card limit is a thousand so i just like to add these two sides to make sure they equal a so we're gonna add the 890.92 cents it does equal a thousand so that adds up and then i'm just going to add a colored line here just so that way i can see this is first paycheck this will be second paycheck so did not do a lot here we are definitely way worse off than we started by quite a bit but a lot of this was this extra vet payment everything else on here was paid for i had money saved up for these transactions this one however i did not but i do still have high hopes for this month because with a second paycheck i'm going to be able to put some of my bills money toward this and then also we do have the april savings which is going to be going towards this as well so hopefully i can make a decent dent in it this month but that is it for walmart mastercard let's go through um what i've spent okay so here is my april overview of my spending so in the check-in that we did on friday the 16th we figured out all of my spending from the 9th to the 15th i didn't include the 16th because i wasn't sure if i was going to spend anything that day so today we are going to be doing from the 16th to the 22nd today is the 22nd i'm not going to be buying anything so i'm going to be closing my budget so i'm not going to be buying a single thing um so we'll do all of my spending for the rest of this paycheck so these are the categories that i have here and then i've created my own expense tracking stickers here so this is my son's tablet i just wanted to show you guys this here i'm not sure if this app is available on other platforms let me just quickly see if it's available on google play and then i would kind of assume that it's available everywhere it's called spending tracker it is on there so hopefully it's just available everywhere this is actually really interesting it's one step further i still mostly use my budget book for everything but this is nice to just have everything at my fingertips so you can have different accounts which is your different spending accounts so i've got cash basic savings debit plus um you've got expense categories and income categories so i've got all of my expense categories here it's really cool because you can pick a color for each category and then you can pick an icon and there's tons to choose from so it's super customizable which is awesome and then you've got your income category so i've got youtube sev and job number two because those are the three places that i get income from and then i just have a no category there one just in case i need to use it you can go into reports and it will show you everything that you've used so since i started using this i spent 46 dollars on miscellaneous 32 on food and 16 on bills so it will show you categories or cash flow so the cash flow is your income and your expenses um and then categories let's see you have the option of doing a pie chart or a bar chart and then you can also do percentage or um dollar amounts which is really cool so you've got your spending here you can see your spending on different accounts so if i wanted to see my spending for basic savings got 3.95 that was my bank fees so that's all gone to bills which is pretty cool and then it's nice because you can hit all accounts and it will tell you your amount for each account so if you're adding all of your transactions in here as well you can see what your total balance is whereas in the book i have to add my cash page my basic savings page and my debit plus page so it's just nice to have everything just all kind of right here with the transactions you can either add an expense or income and then it gives you an option to select what category your expense came from the amount what account it came from and then you can add a note so i've been tracking my spending a little bit in more detail here especially my lunches that way i can actually tell you guys what i had not that it really matters but i just figured it'd be something nice to do so i'm actually really enjoying this app as well i haven't used it for very long so i'm not going to speak too much on it yet but so far i am really liking it so let's get into this all right so we're going to start with cab money and i did not spend anything in cab money um from the 16th to the 22nd lunch money of course i spent a little bit there let's see on the 17th i bought three strips and three wedges and that cost me five dollars and 25 cents so that is a decent price there and then see on the 18th i spent 7.90 um let's see i bought two taquitos which would have been 525 but then ashley was a little bit short she wanted a drumstick so i actually just straight up bought it for her she ended up picking up my shift on wednesday when i wasn't feeling very well so i figured buying her a drumstick is the very least that i could do so that cost me seven dollars and ninety cents between her and i um see i spent 11 and 80 cents on the 19th so this was kind of not a good day spent a little bit more than i would have liked so i bought a breakfast drink and six hash browns which would have been fine but then i also ate a chicken sandwich because i made too many and i didn't want to have to write off all of them so i ended up buying one so not very good there and then on the 20th i spent 6.60 on lunch and that was a chicken salad wrap and a breakfast drink which was not too bad but i think i definitely went over in my lunch category okay next is groceries i didn't spend anything there i still haven't spent anything on takeout so i have my full 65 dollars that i allotted for myself for takeout unspent which is awesome miscellaneous i did have a couple miscellaneous purchases so on the 18th i spent five dollars and 80 cents at the dollar store um i think i got a couple pens and then i also kind of splurged bought this for my mom because she loves unicorns and this is just super cute so next time she comes over i'm gonna give that to her okay and then on the 20th i put 40 dollars towards my giveaway so that went on my card and that was it for miscellaneous um see beauty i haven't spent anything uh pets haven't spent anything bills um my bank fees did come out on the 17th so between the two accounts i spent 15.90 so i'm just gonna put that right there let's see sinking funds i haven't spent anything and rollover i've included it here because it's a category but it's not one that i spend from so that is all of my spending so let's see we can add some no spend stickers here so we've got a no spend on the 16th so we're gonna put that there and then we've got a nice spend on the 21st and i'm not spending anything today so the 21st and the 22nd so that is awesome we've got four no spend days this pay period which is really good i'm happy about that i usually don't end up spending anything if i don't work um unless we have to go grocery shopping not to hair anything but um if i'm not going into work i'm not usually tempted to buy anything and i don't have to buy lunch so that is awesome yeah that is it for my spending so this is actually really awesome to see everything laid out i can definitely see what days i end up spending a little bit more and honestly um back before i started budgeting i used to spend more on my last week before my paycheck for some reason i just like i knew i was getting more money so i didn't feel so bad about spending the money that i already had so it's quite interesting to see that now i'm taking care of all the important things at the beginning like my bills and my grocery money and then trying to really hold on to that money throughout the rest of the pay period so that is really interesting to see i'm happy about that okay so that is it for my check-in on my mastercard and my spending so let's hop to just the normal closing of the paycheck okay so this is the budget i love looking at this i love how clean this is this is great all right so here are my trackers i'm gonna go through and highlight these and i will be right back [Music] you told me not to worry you said all right so there's everything highlighted it looks so pretty i love these pastel colors so i like to close my paychecks in a grid.journal with the workbook by the budget mom she gives you a spot to close your months but i like to close my paychecks as well just to check how i'm doing in each paycheck and then the month when the month is over so i use this grid.journal to close my paychecks so this is when i first started so it was a little bit messy and then when i continued i was doing my spending on one side and then the this is just a kind of smaller breakdown of the where did my money go worksheet the budget category breakdown i believe so yeah i had my spending on this side and then the category breakdown on this side but it ended up being a little bit messy especially since january i had three paychecks i was able to fit all of the spending on one side couldn't fit all of the breakdown grids on one side so that kind of made february a little bit chaotic march was not quite so bad but i still didn't like this and i ended up missing some stuff because i added stuff and just didn't leave myself enough room so for april what i've decided to do is actually have it by paycheck so i've got paycheck one this is my spending this is the category breakdown paycheck two this is the spending this is a category breakdown that way it doesn't matter if i have three paychecks in a month each paycheck has its own page and then i also don't have to put back and forth everything that i need is going to be on this one page which i think is going to be awesome so um the first thing that i'm going to do is i'm going to go through and calculate all of my spent so i'm going to go through my cash first calculate how much i spent in each category write it here and then i'm going to do the same thing with my debit plus my basic savings and then i forgot that i like to leave room to add it on the bottom don't i huh i guess this rollover category technically doesn't have to be here so i'll just use that to write everything on the bottom so i'll add up everything i spent in cash everything i spent um in my debit plus and then my savings and then in this line i will calculate everything i spent in each category between the three accounts and then just to double check my math if i added everything right the total of this line will equal the total of this line so i'm going to go ahead and do that and i'll meet you guys [Music] back [Music] hey [Music] all right so both of these lines equal the same so i think i did that right and then i just outline these boxes in blue that way i know that this isn't actually the rollover um i could probably keep the rollover out on this side but i like to keep everything the same that way i don't end up with mistakes and i think one thing that i need to start doing is whether i'm closing out my paychecks or the months i need to do it the same way otherwise it's going to throw me off trying to do the two differently so before what i was doing was i would have my starting balance as the income that i made and then have the incoming income as on budgeted income equaling my total i'm going to do it how i should do it when i'm closing out the month and have my starting balance as my rollover my incoming income everything else equals my total so this plus this will equal this okay so my rollover is going to be my starting balance so that was 194. and 11 cents and then i'm gonna grab my income off of my trackers just so i make sure i have everything okay so i've got a hundred on my um cash tracker so i did bring in a hundred dollars for my birthday syncing fund to put on my mastercard to cover expenses for my mom's birthday um so i've got that nothing in debit plus and then all of my other income is here so we've got that hundred plus one thousand fifteen dollars and forty three cents plus 320. 1435.43 plus our rollover of 194 dollars and 11 cents equals 1629.54 cents i'm going to grab how much i budgeted for so i budgeted 35 for cab 60 for lunch 200 for groceries i'm 65 for takeout 100 for miscellaneous i didn't budget anything for beauty i budgeted 60 for pets these are all bills here so we have 176 dollars and 90 cents in bills plus 50. so we budgeted 226 and 90 cents for bills and the sinking funds would be 447 plus taxes so plus 75 is 522. and then for the rollover here i budgeted 260 dollars and 64 cents okay so now i can just bring down all of my spent from here [Music] okay so i'm gonna calculate the difference so i'm just gonna take my monthly budget minus my monthly spent that will be the difference [Music] i know it's been a while now you taking okay so over those there so green i was under budget and pink i was over budget so i actually only overspent by two dollars and ten cents and my lunch money i thought it would be worse than that and only three dollars and ten cents in my miscellaneous which is awesome and then a hundred dollars in bills which was the hundred dollars for my birthday sinking funds and i'm totally okay and overspending on bills because that went to my mastercard so that's totally fine so then i'm just gonna figure out the percent here so i'm gonna go with my spent divided by my income i'm going to put my income so 1 629 and 54 cents i'm going to put that on memory that way i can just go 7 divided by memory recall equals and that will give me give me my percent so this wasn't even a percent so we're just going to say zero let me get 6210 divided by memory recall this will be four percent okay there is those there so let's see i gave myself an extra line here i think oh no because that's for my rollover okay okay so now i think i don't know my my budgeted won't equal my total income because i didn't budget for that hundred dollars so i'm gonna put my total income here so i'm just going to outline this in blue that way i know that this isn't this added up so this will be 1629.54 and all of these added up should equal 1195.59 i'm just going to double check that make sure it's right yep so 1195.59 so this this should equal our rollover so 1 629 54 cents minus 1 195 dollars and 59 cents goes 433.95 and i think this will hopefully be bang on but we're gonna check so then here i just like to see how much of my paycheck i spent so i'm going to go 1195.59 divided by this number 1629.54 ooh so i only spent 73 of my paycheck that is awesome i like to keep it 80 or below that is my goal so that is great to see okay so this here is going to be my actual rollover and then here is going to be my difference okay so now we're gonna set this off to the side and we are going to count some money so i'm just gonna grab my little notebook here so we're gonna do debit savings cash change total and then we're also just going to do a cash total down here so that way i know for my for my budget tomorrow how much cash i have on hand okay so let's check the accounts first so debit has 11.86 savings has 260 dollars and 64 cents savings is not an actual savings account it is just a secondary checkings account i just call it my savings account typically bill bill account would work better i might have to change the name for that but i'm okay with it for now okay so change i keep meaning to get rid of small change like this i'm okay with keeping loonies and toonies that's fine small change like this i want to just throw in my change jar but i don't really know how to take it out of my budget because i don't really want to add it to syncing funds because i track my sinking funds in a different way and that would throw it off so i don't want to include it there but maybe miscellaneous i'm not sure um but since we're already pretty much all the way through closing this budget i'm not going to worry about the change i'm going to include it this time and maybe i'll figure that problem out next time so let's see so for change we have three dollars and this is a nickel those always throw me off so 10 20 30 40 45. so three dollars and 45 cents so for cab money actually let's add okay so i forgot about this so we've got another three dollars this is going to be 6.45 okay so we'll empty all of these okay so we've got 50 100 120 130 140 145 150 155 okay so 155 okay let's add all of these up so we've got 11.86 260 64. it's 155 plus six dollars and 45 cents equals 433.95 which i'm pretty sure that's exactly what our rollover should be but we'll double check and then i'm just going to add up all the change for my cash total so cash is 155 plus 645 so money on hand i have 161.45 all right let's see if those added up okay so rollover should be 433.95 that is exactly what my rollover is so i have got a difference of zero that is so good to see so good i feel great about this i think i'm slowly getting a system and understanding how to actually do all this and the proper steps my tracking has mentally gotten better i've been really forcing myself to track my spending every single day write it down every day it's been so helpful and the nice thing about that app that i was showing you guys is if i don't want to pull out my budget book and do all of that math and extra work on there i can literally just pull out that tracking app put the transactions in there super quick and then they're there i can transfer them into my budget book when i have the motivation to do so but as long as i'm putting them on that tracker i should be fine um so this is awesome i'm really happy about this we have a difference of zero i think i did really good in my categories i was really only over by a little bit where i didn't want to and over a decent amount where i did want to so that is really awesome i'm super happy about that i'm happy about this number going into next paycheck so i'm hoping to be able to put quite a bit towards savings but also pay off a decent chunk of my credit card i really want to get that down by the end of may beginning of june end of june for sure um that is my goal so this is great to see and then one more thing that i'm going to do because i said for this month what i want to try to do is put my actual as my actual so let's see the money from sev was right there was that 320 from job number two my rollover was right and then um i also have that hundred dollars from sinking funds so i'm just going to write sinking funds here okay so let's see so 1015 43 that's 320 plus 194 11 plus 100 okay so land tax i did spend 125 on these were right okay so this number is not going to change however this one is we've got that 16 29 54 we're going to subtract 176 90. so this is how much we actually had left okay so cab money i spent seven dollars lunch money was 62 10 groceries was 174.49 take out with zero miscellaneous was 10310 none for beauty and none for pets okay so seven sixty two ten plus one at seventy four forty nine plus 10310 equals 346.69 that's amazing that i was able to keep my main categories to under 400 that's incredible okay so let's bring back memory minus 346. 69. so 1105.95 bring that up here i believe this was right it should be because my spent equals my budgeted okay so this was 357 and this was 90. so this was 447 so we can check subtract that so six five eight nine five these were right so this will stay the same so we can subtract 125 equals 533.95 actually let's change this it's wondering why that was slightly off because this should equal my rollover because of that hundred dollars for the um uh walmart mastercard so this was actually 150 that i put on that 150 plus 75 so this was actually 225. so let me go 658.95 minus 225 equals 433.95 so this was the actual number for our rollover i think i actually kind of like doing it this way because then i can just look at this sheet for everything this has my budgeted and my actual spent amount i wouldn't have to go through my trackers i would just go through this page um when i'm closing out my month which i think i would kind of actually like to be able to do that i think keeping it all on one page and simplifying it like that for me would be a lot easier and less chaotic and i feel like i would do better if it was less chaotic because if there's a lot more to the process i tend to stress out and then i tend to overthink which is not helpful at all so if i can simplify it and keep it like this then i think it would work very well so i'm gonna do this the same way for my second paycheck in april and then we'll see how well i do with closing the month and i think that will be my deciding factor on whether i want to continue doing a budget versus what i actually spent i can definitely see why a lot of people use the columns this way it seems extremely helpful so i like that so this budget was exact i am so happy about that we have a decent rollover going into tomorrow's paycheck i am super excited to see how much money i can put where and i really hope you guys enjoyed the process of this i just want to say thank you so so much for those of you that watch my videos and comment with the helpful comments that you guys have been you guys have helped me so much if it weren't for you guys i would still be really struggling with this i'm still unsure of several things but i am slowly getting there um i keep saying that this first year is going to be like my trial period of budgeting it's going to be kind of finessing everything trying to find what works for me what doesn't it's just all going to be learning and i feel like budgeting is something that you're constantly learning constantly evolving because things are never really the same they're always changing so um it's really nice to actually feel like i'm on track for once um so thank you thank you guys so so much for being my motivation my support i appreciate each and every one of you with that being said i hope you liked this video but i'm going to end it here if you did like this video i really appreciate it if you give it a thumbs up feel free to hit that subscribe button and ring that notification bell if you want to be notified when i upload i'm really excited to work on tomorrow's budget with you guys there is going to be a new part to that um i'm going to be including my spreadsheet on my numbers that i used for this budget to make it a lot easier so i'm going to be including that so feel free to check that out if that's something you're interested but yeah i am gonna go pick up my little guy from school thank you again guys so much and hopefully i'll see you next time alright bye [Music] new [Music] uh

Channel: My Organized Life

Views: 970

Rating: 5 out of 5

Keywords: budget, budget by paycheck, budget with me, plan with me, plan, planners, how to budget, budget stickers, planner stickers, budgeting for beginners, beginner budget, my first budget, budgeting for dummies, how to, december budget, paycheck budget, how i close my budget

Id: dAx82JjBWew

Length: 41min 41sec (2501 seconds)

Published: Fri Apr 23 2021