How to organize a budget in 30 minutes? Learn step by step

Learn how to organize your budget quickly and easily

Most of the time, many people have to juggle their finances to make ends meet. But imagine solving this challenge in just a few minutes? You need to learn how to create a budget in 30 minutes.

With a little organization and a few practical tips, you can structure your finances quickly and gain clarity about where your money is going, without wasting hours of your day. Want to understand how to do it? Let’s go! In half an hour, you’ll be in control of your budget!

How do I make a budget in 30 minutes?

At first, putting together a budget in just 30 minutes may seem impossible, but with a little organization, you’ll see that it’s totally feasible and simple!

If you still find the process a little complex, we’ll simplify the tips so you can understand where your money is going, cut unnecessary spending and, of course, get closer to those all-important goals.

But after all, how is it possible to create a budget in 30 minutes? If the answer is yes, then let’s go step by step to create a quick, straightforward budget that really works for you.

1. Gather everything you need

First, gather your bank accounts, card statements, and other information about what you earn and spend. This can prevent you from wasting time looking for data in the middle of the process.

Also, if you prefer, you can use an open spreadsheet or notepad to write everything down, so you can speed things up. This preparation is quick and makes all the difference.

2. List your sources of income

Now that you have everything at hand, let’s talk about income. Put down on paper (or in a spreadsheet) all your sources of income for the month: salary, freelancing, income, or any other type of income.

Don’t forget to list the actual amount you receive, minus any taxes or other deductions. And if your income varies from month to month, take an average based on the last few months to get a more reliable figure.

3. Organize expenses by category

With your income defined, it’s time to focus on your expenses. For this process, the recommendation is to divide your expenses into two main categories:

• Fixed;
• Variable.

In principle, fixed expenses are those that happen every month and usually have similar amounts, such as rent, energy bills, internet. Variable expenses are those that can fluctuate, such as leisure, transportation and eating out.

It’s worth pointing out that this stage is fundamental because it allows you to see exactly where your money is being spent.

Also, a reminder: this is not a list to judge where you spend, but for you to see clearly and define what you want to keep or adjust.

Finally, the tip is to use an expense app that will help you divide each of your expenses correctly. Money Manager Expense & Budget can be an option to download, available for Android and iOS.

4. Set your savings target

Now that you have all your expenses listed, it’s time to set a savings target. One of the main questions you need to answer is: how much would you like to (and can you) save each month?

Setting a specific amount helps you visualize your budget more clearly. Now, look at the variable expenses and see if there is room to save. It may be that when you see everything listed, you realize that certain items can be reduced.

Know that small adjustments, such as reducing the number of times you eat out or reviewing your subscription expenses, can make a big difference to the total.

5. Keep track

That’s it! Now that you have your budget set up, the next step is to keep track of it throughout the month. Use a financial control app or a spreadsheet where you can record your spending, at least weekly.

This will help you see where you’re spending the most or if any adjustments are needed. Also, remember to set a fixed day, for example the first Saturday of each month, to review how the last period went.

Know that this monthly habit allows you to make adjustments as necessary and stick to your savings and spending plan.

See how much easier it is than you think to set up your budget in 30 minutes? With these tips, you can get a clear picture of your money. Over time, setting up and adjusting your budget will become more and more natural.

And the best part? With this control, you’ll have a much calmer relationship with your money and make more conscious choices.

Written by

Juliana Raquel