A well managed budget will help you keep track of your money.
Sticking to a strict budget can be challenging, even with a detailed spreadsheet set in front of you. This task becomes increasingly difficult when you're on the go. Busy families need a way to keep their finances on track even when they can't always look at the bank account or a list of upcoming expenses. As you approach the checkout counter at the grocery store, or sit in your car contemplating your dinner options, a handy small scale budgeting tool is just what you need to help you make smart financial decisions. A well organized pocketbook can serve this purpose no matter where you are.
Instructions
1. Create a detailed budget at home as a reference point for your pocketbook budgeting. This budget should include a complete list of income and expenses. Be very clear about how much money you are setting aside for purchases made out of the house, such as groceries, gas and toiletries.
2. Slip a small notebook into your pocketbook or use your checkbook register as a budgeting tool. Set aside a separate page for each category of expenses. Include an extra page for miscellaneous expenses that may not fall into your designated categories. On each page, clearly write the amount available in your budget for that expense.
3. Note your purchases in your pocketbook register as you make them. Jot down the name of the store and the nature of your purchase as well as the exact amount. If you don't have time to do this in the store, place your receipt in your pocketbook and make a habit of writing this information down and emptying out the receipts at the end of the day.
4. Subtract the amount spent from the budgeted amount for that category after each purchase. This will provide you with a running tally of how much money you have left for those types of items.
5. Update your pocketbook budget on a regular basis. Set your budget to provide the amount you can spend on various items each week or month and start a new budget when you've reached the end of that time period.
Tags: your pocketbook, budgeting tool, into your, much money, your budget