There are a ton of budgeting apps out there, but many people end up using some sort of a spreadsheet for their budget.

Spreadsheets offer control and flexibility to users, and allows them to look closer at the transactions going through their accounts.

I have nothing against apps. Many people find them useful, and there’s no denying that there are a ton of good ones out there.

But I personally have used a budget spreadsheet for years and have found it useful. The more people I talk to about budgeting, the more I hear that people desire a spreadsheet-based budget without all the manual work that comes with it.

Today we finally have a budget spreadsheet in Excel that is automated and easy to update. But first let me tell you a bit about the budgeting process I’ve used in the past.

My Budgeting Process

 
I’m an Excel nerd so using a spreadsheet to budget was a no-brainer for me. I’ve had the same spreadsheet for over four years now. But why haven’t I shared it?

When I share spreadsheets and tools I want them to be as easy to use as possible. The biggest issue with spreadsheet budgeting is getting all the data in the proper format.

I have a number of credit cards due to credit card churning, plus throw in a bank account and you can see why it would take quite a bit of time to reformat everything. No two financial institutions seem to export data in the same format. So there’s a lot of work on the backend.

I didn’t want to share a budgeting spreadsheet until I solved this key piece of the puzzle. Fast forward four years and I still haven’t shared a spreadsheet.

That all changed when I discovered Tiller.

Tiller – The Key to Automation

 
Tiller is what I have been waiting for: it automates the process of pulling in your financial data into a clean, uniform format.

Now there are a ton of apps out there that link to your accounts. But they don’t allow you to dump your data into a spreadsheet because they either haven’t built a tool that can do that or they have a huge incentive to not allow their users to dump data into a spreadsheet.

Once you sign up for Tiller you simply have to connect your accounts and your financial transactions will be dumped into a Google Spreadsheet each day. They will come through in a uniform format that looks something like this:

 
Tiller does cost money. You can use my link for a free 30 day trial, but after that it’s $6.58/month. If you’re like me and spend an hour or more getting your data into a uniform format or have avoided budgeting because you don’t want to take the time to mess with your data, $6.58/month is well worth what you are getting in return for Tiller’s service. (Don’t worry they have a 60-day money-back guarantee as well).

Tiller has bank-grade security and has partnered with a company that works with some of the biggest banks in North America to ensure it’s up to the same high standards banks are held to. What was even more reassuring to me was hearing that their employees can’t even see your financial data. You can read more about their security and other features of their service on their website.

I’m all for Google Sheets, and Tiller absolutely can work simply using Google Sheets, but Excel is where it’s at if you want a clean and good-looking budget spreadsheet.

So I took it a step further and created an automated budget spreadsheet in Excel.

An Automated Budget Spreadsheet in Excel

 
Tiller is a great start, but my automated budget spreadsheet in Excel is where people will feel most “at home.” Excel is widely used and I’ve created a spreadsheet that someone with limited experience can use.

The spreadsheet has a directions tab that guides you through the process of updating the spreadsheet with your data. It also points out best practices that will help you not “break” the file.

 
The data tab is where you will want to paste your Tiller data. The data will then become part of a table that uses formulas to automatically populate the monthly summary tabs and the annual summary tabs.

Note that Tiller does not automatically populate the category for each transaction. Having the user populate the category allows the user to assign relevant categories and look at the transactions at a lower level of detail than they would if category was auto-filled.
 

 
On the categories tab you can add or delete categories as you see fit.
 

 
On the monthly summary tabs, everything is automated except for the budget column and the categories. You can add and delete categories as you see fit. You can unhide the hidden rows towards the bottom if you need to add more categories.

Everything is formula-driven, making it easy to see a snapshot for the month. While tabs have already been created for each month in 2024, you can easily make a copy of any of the months tab and choose a different month and year drop-down as you see fit. Everything will update automatically for whatever month you choose.
 

 
One additional thing included in this file is the annual summary. If you go to the 2024 tab you can see an annual summary of your income and expenses by month. This is automatically populated and you can easily make a summary for future years by choosing a different year from the drop-down.
 

 
This spreadsheet takes a lot of the manual work out of the budgeting process and gives you nice clean views of your financials, both budgeted versus actual as well as net inflow and outflow of cash.

My hope is that this easier process of importing and tagging data will encourage others to start budgeting. After all, using this process you can easily update your budget in less than 30 minute a month, perhaps even less than 10 minutes depending on how many transactions you need to tag.

A popular topic in personal finance is passive income.

Income that doesn’t require you to trade your time for money is “the dream” for many people.

There are many different forms of passive income, but the ultimate passive income is dividend income.

Dividend income comes from owning dividend-paying stocks. Not every company pays dividends. If a company is focused 100% on growth, they are going to use all their earnings to continue to grow their business.

With that being said there are many large companies that are focused on growth that pay a dividend. In fact it would almost be silly for a publicly traded company to not have a growth strategy.

Many of the large blue chip companies pay dividends, though their dividend yield (Amount paid out in dividends annually divided by current stock price) can vary. For example, Best Buy has a relatively high dividend yield of 4.18%, while Visa has a modest 0.80% dividend yield.

Even if you have other financial priorities that take precedence, learning and being aware of the opportunities that come with dividend income can motivate people to save more money, pay off debt faster, and make more money so that they can take advantage of all the benefits that come from dividend income.

With that in mind, let’s get to the real question here: how much can you make in dividend income?

How Much Can You Make in Dividend Income?

 
The first thing I need to say before answering this question is this: it’s not easy to make a sizable amount of dividend income. If it was easy no one would work and everyone would simply live off of their passive dividend income.

Using the spreadsheet I created, let’s look at what you would be able to make annually from dividends if you invested $5,000 in 3M stocks:

 
Okay so you’d only make $123 each year. Now that may not feel like much, but remember it’s also reasonable to expect 3M’s stock to appreciate over time. Also, don’t forget how great dividend income is: you are getting $123 by simply owning $5,000 worth of 3M stock! No effort required.

Let’s take a look at a higher investment amount: $100,000.

 
Nearly $2,500 a year – not too bad! You can see why dividend income is so attractive, especially to those looking to retire early or who don’t want to spend down their assets in retirement.

Quick math shows that owning $1 million of 3M stock would yield $25,000 a year in entirely passive income. Do you have $2 million to invest? double it up to $50,000 a year.

I don’t know about you, but this sort of scenario analysis is incredibly motivating to me.

I spend most of my free time working on side hustles to increase my income, and while paying off debt is the primary goal right now, long-term I would love to regularly funnel “extra” side hustle income into dividend-paying stocks.

If you are an entrepreneur or want to be an entrepreneur, dividend income just might give you the motivation needed to put in the long hours and hard work to build your business. After all, if you are able to sell for a couple million dollars – or more – you very well could live off of passive dividend income the rest of your life.

It’s an easy way to save over $1,000 in one year. $1,378 to be exact.

The 52 Week Money Challenge is realistic for anyone because it doesn’t require the same amount of money to be saved each week. That’s because over the course of 52 weeks you save as little as $1 and, at most, $52.

Let’s take a more detailed look at how the 52 Week Money Challenge works, and some alternative ways of doing the challenge.

How the 52 Week Money Challenge Works

 
The 52 Week Money Challenge is simple. Over the course of 52 weeks, you make a deposit into your savings account once a week. The deposits range in value from $1 to $52.

One way people do this is deposit $1 the first week, $2 the second week, $3 the third week, and so on. At the end of 52 weeks the deposits total $1,378.

Another way to do this is vary the payments. Perhaps you deposit $52 the first week, $1 the second week, $51 the third week, and so on. This works well when there are busy times, like Christmas, where money is tighter, or if you have an unexpected expense that sets you back.

Being able to adjust your weekly contribution as needed is an added layer of flexibility to the challenge, but not everyone takes that approach. It can be easier to just stick with increasing your contribution each week by $1. Who knows? Maybe you will even continue past the 52 weeks.

Another variation is to multiply the amount you save. Depositing $1 through $52 is great because you will save $1,378 in one year, but why not up the ante? If you deposit $5 through $260 in increments of $5, you would have nearly $7,000 saved. This is a great way to make a game out of building an emergency fund.

I recommend having a separate savings fund at a different bank than your home bank or credit union to create a separation between the money you have for spending and the money you are saving for a rainy day. My choice is a high-yield savings account at CIT Bank. Many banks pay almost nothing in interest for their savings account. You deserve to get a high interest rate on your savings account, and CIT Bank is a great option.

Download the 52 Week Money Challenge Spreadsheet and Printable

 
If the 52 Week Money Challenge sounds like something that you want to try, we have a free 52 Week Money Challenge Spreadsheet and Printable for you.

If you want the spreadsheet or printable, you can get a free copy below.

Don’t miss out on our free budget spreadsheet or these travel rewards credit cards that can help you achieve your travel goals faster.

But budgeting apps aren’t for everyone. For some a spreadsheet is the best way to budget.

With a spreadsheet you have total control. You can move rows and columns around and add information easily.

With apps you have to work within their user interface. It can be frustrating to work with.

The biggest issue with budget spreadsheets is that you have to manually add all the information. Peter Polson, the founder of Tiller Money, saw this problem as an opportunity. Tiller Money adds automation to the budget spreadsheet process.

I’ll start this review of Tiller Money by talking about the automation that it brings to spreadsheets, which is the primary reason someone would use Tiller Money.

You can try Tiller Money out for free for 30 days using our link. After the 30-day trial, Tiller will bill you $6.58 per month to continue using their services. You can cancel at any time.

Tiller Money Makes Spreadsheet Budgeting Automated

 
I’ve used a budget spreadsheet for nearly a decade now, but it’s changed over time.

I used to sit down at the end of each month and drop credit card and bank data into a spreadsheet. Then I would go through the time-consuming work of editing all the data so it was uniform. This became a bit easier as I got used to how each of the credit card companies structured their data, but it still took about an hour a month.

Part of the reason it took me a while was because my wife and I both like to take advantage of credit card rewards. That means we were often signing up for new cards and moving our spend to different cards.

But even if you only use a couple credit cards and a bank account it can still take some time to pull all that monthly spend data together and get it set up in the same format.

Tiller Money automates this step of the process. Tiller Money, using bank-grade security, allows you to link your accounts and have daily updates of all your transactions. Most importantly they put all this data in the exact same format and drop it in a spreadsheet. This was a big time-saver for me and something that didn’t exist prior to Tiller Money.

 
Tiller Money works out of Google Sheets, but they have a beta of an Excel add-in. I’ll talk about their budgeting template next, but first I want to share a little more about how I use Tiller.

I continued to use my budget spreadsheet in Excel and did not switch to Tiller Money’s Google Sheets budget template. Instead I copy and paste the transactions data into my Excel budget spreadsheet. I then have formulas that read off of that data, which in turn feeds into tabs for each month’s budget (i.e. January 2020, February 2020, etc.).

My favorite tab, though, is a tab that has a summary of income and expenses. It has the months across the top and the spend categories to the left. You can quickly and easily see the trend of your monthly spend, and going forward can correct as needed. (I actually do not budget monthly but instead use this tab to review my monthly income and expenses).

 
You can read more about my free automated budget spreadsheet in Excel or if you are ready to check it out you can have it sent to your inbox by filling in the box below (check your spam if you don’t see it in your inbox).

 
Next let’s take a look at the Tiller Budgeting template.

Tiller Money Budgeting Templates

 
You can do all your budgeting within the Tiller Google Sheet. Here’s a few quick screenshots of what it looks like.

First, here is the monthly budget sheet. Once you set your monthly budget you are good to go. Your income and expense data will automatically flow into the tab.

 
Next you have a full-year view of your income and expenses. This will automatically update as well.

 
Finally there is a tab where you can add additional budget categories. This will also have a monthly view of income/expense for each category.

 
There is also a “Transactions” tab that will pull in your data automatically. They have an add-on within Google Sheets for Tiller Money that drives the automation. Within the add-on you can select which accounts you want to pull in. One example where this is useful is with keeping personal and business transactions separate. I have one set up for my personal income and expenses and one for my business income and expenses.

Tiller Money Functionality

 
With new technology there is typically two questions that need to be asked:

• Does it save me time? If not, does it make me money, save me money, or enrich my life in some other way?

• How easy is it to use?

The first question is easy to answer. Tiller Money automates something that otherwise would have to be done manually. It saves you time, potentially more than an hour a month.

It also helps you improve your financial life because you can view the data on-demand. Once your accounts are set up any new transactions will flow into your Google Sheet. Whether you notice it directly or indirectly, you are likely to be more on top of your spending if you are checking your transactions daily or weekly instead of monthly. You also may be more likely to notice an increase in a recurring charge (internet, for example…) if you are checking transactions often. You can do this today by logging into your accounts individually, but Tiller pulls it into one place and automatically will compare your spend to your budget.

Ease of use is a different question that is more difficult to answer. I say that because the initial set-up process can take a little bit of time. You need to learn how Tiller’s budget spreadsheet works (and/or my free budget spreadsheet). You also need to link all your accounts.

This can take some time, but once everything is set up and you are comfortable using either the Google Sheet or the Excel spreadsheet you are essentially good to go. As I mentioned earlier I grab the transactions data out of Tiller Money and move it to my spreadsheet. Now that I have my accounts linked all I need to do is open the Google Sheet and grab the data from the “Transactions” tab. There is no other effort required for me to use Tiller Money. This should be comparable if you use their Budget spreadsheet, which also will be more or less automated once you get it set up initially.

How Much Does Tiller Cost?

 
You can try Tiller Money out for free for 30 days using our link. After the 30-day trial, Tiller will bill you $6.58 per month to continue using their services. You can cancel at any time.

Why isn’t Tiller Money free like Mint? Unlike Mint there are no advertisements in Tiller Money. Mint seems to constantly be trying to refer you to products and services, and it should be no surprise: they need to make money somehow.

Should You Try Tiller Money?

 
Given that this isn’t a free app after the 30-day free trial, it’s natural to wonder if Tiller Money is really worth the cost.

Trying it out with the free trial is really the only way to tell if Tiller Money will be worth it for you, but here is a few quick thoughts on who would likely benefit from using Tiller Money and who it likely won’t appeal to.

Tiller might be for you if:

• You prefer spreadsheets over apps

• You want an affordable way to track your money

• You like a snapshot of your entire financial situation all in one place

• You like to be able to customize your budget

 
Of course, Tiller isn’t for everyone. It might not be the best fit if:

• You have never used a spreadsheet before and have no desire to start

• You prefer the navigation and platform of an app

Try out Tiller Money for free: Use this link for a free 30-day trial to Tiller Money.

Increase Your Savings

 
1) Open an online savings account with a higher interest rate. Online savings accounts, like CIT Bank, are able to offer a higher interest rate because they do not have to spend money keeping up brick-and-mortar locations. Consider making the switch and earning a few extra dollars in interest.

2) Set automatic increases. You can increase your retirement savings easily by setting auto-increases every year or so. You likely won’t even notice an additional 1% being deducted out of your paycheck, but that little extra contribution can add up overtime.

3) Automate your savings. The easiest way to meet your savings goals is to automate your savings. You can have money automatically set aside into a separate savings account each month. The important thing is to not touch it once it is there.

4) Keep a budget. Budgeting can be time-consuming, but it’s a habit that can have big implications for your finances. Check out our free automated budget spreadsheet if you don’t currently keep a budget.

5) Start an emergency fund. An emergency fund can save you and your loved ones from financial disaster. Make it a goal to set aside at least 3 months of living expenses in an emergency fund.

6) Meet your employer’s retirement match. If your employer offers to match a portion of your retirement fund contributions, make sure you are contributing enough to receive the full match.

7) Contribute to an HSA. If you are on the high deductible health plan, you are eligible to contribute to a health savings account, or HSA. HSAs offer huge tax advantages and can cover any health related expenses you may have. The best part is that they carry over from year to year, so you can build it just like a regular savings account.

8) Utilize catch-up contribution limits. For anyone over the age of 50, you are eligible for catch-up contributions, meaning you can contribute more to both an IRA and 401(k).

9) Save for your child’s education. A 529 plan allows you save for your child’s education while providing you with tax advantages.

10) Consider whether you should rent or buy. Depending where you live, it might make more sense to buy a house. If you are in an expensive city, you may not be able to afford to purchase a home right away. You’ll need to compare your financial position and personal priorities to make the best decision for you.

11) Compare car insurance rates. Get quotes from other insurance companies periodically. They may be able to offer you a cheaper rate for the same level of coverage.

12) Avoid ATM fees. ATM fees are ridiculously expensive considering that they are essentially charging you to access your own money. If you frequently use ATMs, locate machines that are free to use. If your bank does not offer free ATM use, consider switching to a bank that does.

Frugal Living

 
13) Meal plan. Planning out your meals can not only save you money in groceries, but it can save you a ton of time as well. You can plan out your meals, cook them all at once and be ready to go for the week.

14) Use a cash-back site. If you frequently shop online, Ebates will give you cash back for your purchases. It is free to use and sign up.

15) Turn off items electronics when not in use. Why spend money on things you are not even using at the time? You can save money by unplugging items when not in use.

16) Sell items you no longer need. Not only will selling household items declutter your home, but you can make good money by doing so. Take a few photos of what you are trying to sell and post it to sites like Craigslist, LetGo, and OfferUp.

17) Buy used or go thrifting. By buying used, you are saving money and helping the environment. You might be surprised at what you can find in a thrift store for cheap.

18) Adjust the temperature. You can save money every month by adjusting your thermostat by just a few degrees. To really save money, consider installing an adjustable thermostat. Many of the new thermostats allow you to control it from an app on your phone.

19) Plan gifts in advance. If you tend to frantically look for gifts last minute, you likely aren’t finding the best deals. You can save money (and prevent stress) by shopping in advance.

20) Consider cheaper hobbies. Everyone should invest in their hobbies, but some hobbies can drain a budget really quickly. Consider finding a few cheaper activities and splurging on your expensive hobby less frequently, or find a way to make money on your hobbies

21) Pay for maintenance. By prioritizing maintenance for the most important things (such as your house, health, or car), you are saving money in the long run. By doing regular maintenance, you are saving money in the long run by improving efficiency.

22) Learn to DIY. If you have the time, skill, and resources to do it yourself, you can save a sizeable amount of money.

23) Prolong purchasing anything new. If you tend to be an impulse shopper, make sure you are taking time to really evaluate the value of your purchase. After doing this practice, you will likely find that there are actually very few things you need.

24) Use less. With most things, you can get by with using less of a particular item. Using less is a practical way to save money in the long-run. For example, you can use less toothpaste, makeup, paper towels, or cleaning supplies with each use.

25) Make coffee at home. You can make your own coffee for literally pennies after you purchase a coffee maker. You can find a decent coffee maker for around $30. If you consider that each speciality drink at a coffee shop costs $4 to $5, you will quickly earn your money back.

26) Purchase discounted gift cards. Raise.com allows you to buy gift cards for less than what they are valued. Likewise, if you have gift cards you aren’t going to use, you can sell them on Raise.

27) Carpool. Carpooling to work can save you 50% of gas and will prevent wear-and-tear on your car. In some cities, you even get the added advantage of using the carpool lane, which results in you spending less time in traffic.

Career

 
28) Improve your soft skills. You can improve soft skills, such a public speaking, organization, and communication by participating in free organizations and classes around the area.

29) Take on additional responsibilities. By taking on additional responsibilities at your full-time job, you can show your boss that you are serious about the work you do. Management is more likely to give you a raise after clearly seeing the value you provide.

30) Organize yourself at your job. By prioritizing organization, you are ensuring that you are always prepared and operating efficiently.

31) Network, network, network. The best opportunities come through networking since everyone you know has a network of their own. If you are nervous about networking, you can read some tips here.

32) Make use of LinkedIn. LinkedIn is a great tool to collect with other professionals in your industry and community. Best of all, it is free to use!

33) Ask about remote opportunities. You are able to save money in gas and time if you are able to work from home even a few days a week. Plus, you may find that you actually increase your productivity. Talk with your boss to discuss the possibility of working from home.

34) Get certified. By getting certified in your field, you are able to better your chances for a raise or promotion.

35) Join professional groups. Professional associations and other organizations keep your skills sharp while simultaneously giving you plenty of opportunities to network within your field.

36) Consider switching jobs. If you feel stuck at your current job both professionally and financially, then it may be time to apply for new jobs.

37) Keep your resume up-to-date. You never know when the right opportunity may open up.

38) Always keep a business card on you. You should always be prepared. You don’t want to lose out on a potential connection simply because you didn’t keep a business card on you.

39) Spend less on accounting. If you are a business owner, you can save money by switching to Freshbooks for your accounting needs. They typically offer lower fees than many other software.

40) Take advantage of all employer benefits. Does your employer offer a 401(k) match? Free gym membership? Tuition assistance? Cell phone reimbursement? Failure to take advantage of employer benefits means you are leaving money on the table, so be sure to make use of everything your employer has to offer.

Pay Off Your Debt

 
41) Create a debt payoff plan. Before you can become debt-free, you have to know what you are up against. Make a list of all of your debt, the balance, interest rate, and the minimum monthly interest rate. This free spreadsheet was made to list out student loan debt, but you can use it for any debt.

42) Utilize the debt snowball method to pay off debt. The debt snowball is a very effective method of paying off debt. Essentially, you pay off your smallest debt first, even if it has a low interest rate. The psychology behind it is once you pay off one debt, you’re more motivated to pay off another.

43) Refinance your student loans. You may be eligible for a lower interest rate on your student loans through SoFi.

 
44) Refinance your credit card debt. If you have credit card debt, refinancing may help you to pay it off more quickly. Check out SoFi to see if you are eligible for a lower interest rate.

45) Avoid taking on more debt. Save for purchases ahead of time to avoid falling into a debt pitfall.

46) Settle on your car. Cars lose value the second you drive them off the lot, so they are not a wise investment. Settle for a less-expensive car and pay it off as quickly as you can.

47) Refuse to carry a credit card balance. Credit card debt has high interest rate and it can be one of the most difficult financial holes to crawl out of. Prevent credit card debt by paying off your credit card every single month.

48) Calculate your debt to income ratio. To calculate this ratio, add up your minimum monthly payments on all of your debt. Divide that amount by your monthly net income. If this percentage seems high, you should focus on either lowering your debt or increasing your income (or both!)

49) Make multiple debt payments. Instead of paying your minimum debt payment every month, split that amount into a few smaller, but more frequent payments. For example, instead of paying $400 once a month, pay $200 twice a month. This lowers the amount of debt you owe, so ultimately, you are paying less to interest.

50) Call your creditors. If you are struggling to meet the minimum debt payment, call your creditors. They might be willing to worth with you to setup a payment plan.

Make More Money

 
51) Start a blog. Blogging can be very profitable if you keep at it. Best of all, you can blog about any topic that is of interest to you.

52) Earn money through freelance writing. If you can write well, create detailed content, and meet deadlines, you can earn money through freelance writing.

53) Drive for Uber. Driving for Uber is perfect for anyone who is looking to make some extra cash in their spare time.

54) Rent out a room on AirBNB. If you have extra space in your home, you can rent it out on AirBNB. You can choose the days you are willing to rent out your space and charge as you would like.

55) Take surveys for extra cash. Surveys won’t make you rich, but it is a good way to earn a few extra dollars while sitting in front of the television. A few of our favorite survey sites include CrashCrate and Earning Station.

56) Evaluate your productivity. They say time is money, so it’s a good idea to know how much time you are spending on various tasks. RescueTime is a great tool to help you track your productivity.

57) Become a virtual assistant.Virtual assistants are administrative assistants that work from home. They might work for a large company or for a single business owner. Common virtual assistant tasks include scheduling, updating social media, coordinating travel, answering client questions, and more.

58) Earn a raise at work. Don’t forget that you can make more money at your current job. If you are trying to get a raise, here are some good tips.

Lifestyle

 
59) Read financial blogs. Blogs are a great way to learn a few personal finance tips as well as to stay on top of the latest personal finance news.

60) Have a mentor. Do you have someone you can talk to about your financial situation? A mentor can help guide you and hold you accountable.

61) Purchase a few personal finance books. Reading is such a great resource, and there are so many good personal finance books out there. Here are a few of our favorites.

62) Take free classes. Sites like Coursera and Udemy offer online classes from real colleges for free.

63) Find a financial community. Finding a community that prioritizes finances provides a huge advantage. So few people want to talk about money, but it’s holding everyone back. Maybe you find a financial class at your church or within your city, or you join the personal finance blogging community.

64) Keep a planner. Keeping a planner helps you keep your finances organized, ensuring that you never miss anything.

65) Write down your financial goals. Did you know you are over 40% more likely to accomplish a goal if you write it down first? Write down your goals and keep them somewhere visible to help keep yourself motivated. Here’s 15 financial goals to consider

66) Teach yourself something new. As we get older, we tend to stop teaching ourselves new things. Learning new skills or tasks keeps our minds sharp, which in return helps us make wise financial decisions.

67) Avoid FOMO. FOMO, or fear of missing out, can push a lot of your financial decisions if you aren’t careful. Keeping up with what everyone else has is not cheap, and you don’t want to be spending money on things that aren’t a high priority for you.

68) Listen to podcasts. Podcasts are a great way to learn about any topic. You can download podcasts for free on your phone and listen to them at the gym, in the car, or while at work.

69) Hold yourself accountable. Don’t let yourself slack on meeting your goals. Figure out how you can hold yourself accountable. Maybe you need to set small incentives for yourself, or maybe you need to find an accountability partner.

70) Stay healthy. By eating well, working out, and sleeping plenty, you are helping to lower your overall healthcare costs.

Perfect Your Budget

 
71) Always pay your bills on time. To avoid late fees or a potential negative impact on your credit score, it’s important to pay all of your bills on time.

72) Practice good record keeping. You want to be sure to always keep receipts and organize your finances. In case a mistake was made on a bill or taxes, you want to ensure that you have proof and documentation of each situation.

73) Track your net worth. Your net worth gives you a snapshot of where you stand financially. We recommend using the free Personal Finance app.

74) Cancel services that aren’t a priority. You can cancel services like cable, subscription boxes, and magazines to save money.

75) Analyze your budget every month. No two months are the same, and you won’t have a perfect budget right away. It takes some trial and error, especially in the beginning. You may find you regularly have a higher spending in one specific budgeting category and need to reallocate money to that.

76) Use a cash-only budget if you do not respond well to credit cards. Some people find credit cards too tempting. If you have racked up credit card debt in the past, it may be better for you to stick to an all-cash budget.

77) Figure out which budgeting system works best for you. Some people like to write their budget with pen and paper. Other people prefer spreadsheets or apps. However you decide to do it, the important thing is to just track your finances.

78) Like spreadsheets? Use our free automated budget tracker spreadsheet to keep track of your finances.

79) Use Personal Capital. Personal Capital is a financial software that puts all of your finances in one place. It essentially gives you a snapshot of your overall financial health. And it is free to sign up.

80) Learn to say no. Saying yes to everyone can result in a lot of unexpected expenses and can cause you to stress. By learning to say no, you are able to dedicate your time and money to things that are truly valuable to you.

81) Negotiate your bills. A quick phone call to your providers can save you money every month. You can negotiate almost any bill, including cable, car insurance, and internet.

82) Enroll in autopay. Autopay is an easy way to make sure all of your bills are paid. Some bills, like federal student loans, even give you a small discount if you enroll in autopay. Plus, it saves you time.

83) Check your tax withholdings. Though it might be nice to get that big tax return every year, you are essentially giving the government an interest-free loan by doing so. You also don’t want to be on the opposite end of the spectrum and owe the government money come tax time. Double check your withholdings to make sure they are correct.

84) Talk to your significant other about finances. Whether you are newly dating or married, you need to be on the same page with your finances. Be open and honest with one another.

85) Consider how to give back. Giving money away might not seem like a typical financial tip, but by donating your time or money, you are reminding yourself of the value of a dollar while improving the lives of others.

86) Budget for fun. Your budget won’t be very successful if it’s all work and no play. Be sure to set aside some money for entertainment and hobbies.

Use Credit Wisely

 
87) Open a credit card that is a good fit for you. Everyone has different financial priorities, and it’s important to find a credit card that works best for your lifestyle. You can compare the best credit cards here.

88) Learn about credit card travel hacking. You can take free trips across the world by learning how to travel hack.

89) Don’t open up lines of credit just for the deal. How many times have you been told you could save 20% on today’s purchase by opening a credit card at the checkout line? Avoid signing up for any credit card just for its short-term rewards.

90) Keep a credit card open. You can increase your credit score by having older lines of credit, so it’s always a good idea to keep your oldest credit card open, even if you rarely use it.

91) Have a low credit utilization. Credit utilization is another factor that makes up your credit score. By utilizing a small amount of the total credit available to you, you are working to increase your credit score.

92) Monitor your credit score. You can have peace of mind by monitoring your credit score with Credit Sesame.

93) And your credit report. According to the FTC, 1 in 3 consumers find an error on their credit report. An error on your credit report could result in a lower credit score, which may be costing you money by increasing the cost of borrowing. By checking your credit score, you are protecting your finances.

Secure Yourself

 
94) Get life insurance. Even if you are young, you never know what could happen. Life insurance is a way of providing financial security and peace of mind to your family. If you don’t already have life insurance, you can get a free quote to see how much it would cost for various levels of coverage.

95) Backup your computer. If your computer crashes, you might not realize what you have lost until it is gone. To prevent losing important data, backup your computer files regularly.

96) Keep important files in a safe place. You want to make sure you have all of your most important and private files locked away in a fireproof safe.

97) Get a will. Writing a will isn’t a fun thing to do, but failure to do so can result in big financial consequences for your family should something happen to you. You can contact a lawyer to start the process.

98) Compare your insurance premiums. If you have adequate money saved in an emergency fund, then it doesn’t make sense to pay extra in premiums to have a lower deductible. Consider the effects of having a higher versus a lower deductible, and you will be able to save money while still securing yourself.

99) Give instructions to your loved ones. If something were to happen to you, you will want your loved ones to have access to all of your important documents.

100) Change your account passwords frequently. You do not want to risk anyone getting access to your private information. You can prevent this by changing your account passwords frequently.

 
 
What are your best financial tips? Which of these tips has made the biggest impact on your finances?
 
 

As long as you’re tracking your expenses and income in some way or another, you should succeed.

I know that goes against common financial advice, but budgeting in its traditional form didn’t work for me, and I hate seeing people give up on budgeting after a few failed attempts.

That’s why we’re covering a number of different ways to budget in this article.

Let’s get to it!

1) The “Traditional” Line-Item Budget

 
We’ll start with the basic budget most people are familiar with, since other budgeting methods build off of this premise.

This method works best for those who need to get major spending issues under control, those who need to get out of debt, and those who don’t mind categorizing their expenses.

This is a more time-consuming method, so it’s also good for people who don’t mind tedious tasks.

I know, I made that sound so appealing. But the truth is, this is the classic example of budgeting for a reason – it works (for most people).

To get started, list out all of your expenses, both necessary and discretionary. That means everything from your rent/mortgage, utilities, insurance premiums, copayments, cell phone bill, groceries, gas, pet supplies, hair cuts, clothing, and debt get recorded.

You can get really detailed with your categories and have “household,” “debt,” “transportation,” “food,” etc. listed out, with all the separate expenses underneath. That’s why it’s a “line-item” budget – you break everything out so you can see exactly where your money is going.

You should also have three columns: estimated spending, actual spending, and what’s leftover. This way, you can see how well you did, and compare your total spending with your income.

If you think this is a good budgeting method for you, grab our free budget spreadsheet below. It’s automated using Tiller, which also has their own free budget templates in Google Sheets. Tiller grabs all your spend data and puts it in a uniform format, making it a truly automated way to track your spending and update your budget.

2) Proportional Budgets

 
You might have heard of the 80/20 budget, or the 50/30/20 budget. These budgets give you loose guidelines on how to spend and save your money.

For example, in the 80/20 budget, you spend 80% of your income, and save 20%. In the 50/30/20 budget, you spend 50% on necessary items (needs), 30% on discretionary expenses (wants), and put 20% toward debt and savings.

This budgeting method is good for those who don’t want to follow a super strict line-item budget, or spend tons of time updating their spending. This method allows you to figure out how much to put away, and how much to spend, in simple terms.

The only potential issue here is that you need to discern between wants and needs. Unfortunately, a lot of people blur the lines, causing them to justify their spending on wants. Be careful of this if you choose this budgeting method.

You may be wondering, what if your debt repayments total more than 20% of your income? Or your necessary expenses are more than half your income?

You can think outside the guidelines and modify them. Maybe you want to follow a 30/10/60 model and save more money, or maybe you need to do 40/10/50 to pay off your debt and save quicker.

The lesson here is that budgets are supposed to be flexible so you can modify them when your life situation changes.

3) The Pay Yourself First Model

 
Paying yourself first puts the focus on your savings. That’s because you put money away at the beginning of the month, before you have a chance to spend it on anything.

It requires you to figure out the difference between your income and expenses upfront, but after that, it’s smooth sailing until you need to change it up.

This budgeting method is good for those who are left wondering where all their money went at the end of the month, and don’t want to follow a strict budget.

Total up your monthly net income (take an average of the last six months if your income fluctuates), total up all of your monthly expenses, and then subtract to find out what’s left. Ideally, you want to be sending this amount to your savings. You can use a spreadsheet or budgeting app to help calculate this.

A good rule of thumb to follow for how much you should be saving is to aim for at least 5% of your income. 10% is great, and 20% is amazing, but I know as young adults, we sometimes don’t have a ton of money to work with (especially with student loan debt to deal with).

If you’re in the red each month, then you need to figure out ways to reduce your expenses or earn more so that you have money to spare for savings.

4) The Envelope Budget

 
This budgeting method is similar to a line-item budget, but simplified, and usually based around using cash only.

You figure out the major expense categories you need cash for, such as groceries, gas, dining out, entertainment, fun, etc., grab envelopes for your categories, and then figure out how much money you can allocate for each.

Then, take a trip to the ATM and withdraw the amount of money you’ll need for the month. Divide your cash up between the envelopes.

When your cash is gone, you can’t spend more. It’s that simple, and it forces you to get creative if you’re running low.

At the very least, it makes you more aware of your spending. For example, you might head to the grocery store toward the end of the month, and realize you only have $50 left to spend. You’ll be motivated to get the most out of your money!

This budgeting method is good for those who have problems controlling their spending with credit or debit cards, and don’t realize how much they’re spending and where. It also works well for those getting out of debt and those who don’t feel comfortable using plastic.

5) Zero-Sum Budget

 
This is exactly what it sounds like. At the end of the month, your budget should equal zero. That means that if you have $300 left at the end of the month, you need to give that $300 a job. Every dollar needs to be accounted for.

This budgeting method is good for those who often have money left at the end of the month, but end up thinking of it as money they’re free to spend.

While this might seem like the opposite of the pay yourself first method, it can be used similarly if you budget based on last month’s income. It forces you to plan ahead and think strategically about how you want to spend your money.

Check out the book Zero Down Your Debt for a more comprehensive overview of this budgeting method.

6) The Opposite of a Budget, Budget

 
This last one is something I follow. It’s not exactly a budget, it’s more of a philosophy, but it still involves tracking your spending.

Instead of worrying about how much I’m spending per category, I spend based on my values, and cut everything else out.

This sounds a lot easier than it is.

This “budgeting” method is good for those who are already frugal, very aware of and disciplined with their spending, and those who naturally enjoy saving.

I wouldn’t recommend this method for someone completely new to money management because, well, they probably need to learn the basics of managing their money well first.

But for those of us who think saving money is fun, it can sometimes be a relief to not track every single penny. When you’re spending on needs and minimal wants, and still heading in the right financial direction, there might not be a need for a strict budget.

How this works is I have a basic outline for what I’m allowed to spend on, my core values, and anything that falls outside of that doesn’t get priority.

For example, I barely spend money on restaurants and entertainment because I’d rather eat at home and have a fun night in with friends. However, I will spend money on travel, especially if family is involved. I treat myself occasionally, especially if it’s centered around a new experience. I like coffee, having pets, and I will invest money in myself and my business when appropriate.

That doesn’t mean I go all out and spend like crazy. I still find ways to save; I research prices, find digital coupons, travel hack, and look for specials. The key is knowing how to keep your spending in check.

 
 
Are you ready to start budgeting yet? You now have six methods to choose from, and there are still more out there.

Remember that you can modify any of these methods to suit your needs. Don’t pigeonhole your finances into something that won’t work. A budget should be flexible and forgiving.

 
 
What budgeting method do you like to use? Are there any that you don’t like? What do you do to make budgeting easier?
 
 

Chances are, your spending habits have changed during this time.

Fortunately, with social events cancelled or delayed, it’s the perfect time to take an in depth review of your expenses.

Here are 9 expenses to review during COVID.

1) Eating Out

 
With more time at home, it’s an excellent time to learn to cook! And depending on where you live, restaurants have various degrees of operations.

While it’s always amazing to support local businesses if you can, it also doesn’t hurt to review your eating out budget. Now that you’ve gone a few months eating at home, do you need to eat out as often as you were? Could you reduce this expense in the future? Take a look at how much you’ve spend on eating out these last few months, and make a plan moving forward.

2) Savings Rate

 
One “expense” I reviewed in depth was my savings rate. While savings isn’t necessarily an expense, you need to set aside money for it in your budget.

With COVID, there was a huge degree of uncertainty in the job market. Many people were furloughed or lost their jobs permanently. Such tragedy really makes you consider your emergency fund. Do you have enough to safely fall back on if needed?

If not, you may want to consider boosting your emergency fund savings rate. Depending on your circumstances, you may even want to consider saving enough for a jumbo emergency fund.

While interest rates have gone down consistently since COVID took a hold, we recommend using an online bank like CIT Bank for your savings account. They offer a (much) higher interest than brick-and-mortar banks, who typically offer something abysmal like 0.01%.

3) Clothing

 
As many of us continue to work from home, and likely will for the foreseeable future, you may want to reconsider your clothing budget.

If you’re like me, you’ve been wearing the same wardrobe basics on repeat during quarantine. I’ve noticed this, and taken a substantial amount of time cleaning out my wardrobe and pulling items to donate. Some of the stuff I chose to donate was relatively new! During this time, I’ve definitely noticed I overspent on clothing in the past. I’m much happier with a simpler and more minimalist wardrobe, and don’t need to spend nearly as much on clothing.

4) Gym Memberships

 
Most gyms across the United States still aren’t able to reopen. Many Americans turned to at-home workouts for a much reduced cost.

While you may be itching to go back to the gym, it’s worth it to consider if this is an expense you really need, or if you can find alternative ways to exercise for less money.

5) Fuel Costs

 
Fuel is expensive. But if you’re still working from home, you’ve likely noticed a drastic reduction in the amount you are spending on fuel each month.

If you anticipate working from home for the foreseeable future, be sure to adjust your fuel expense in your budget. You can put your fuel savings toward building your emergency fund instead.

6) Car Insurance

 
Along the same lines as fuel, when you’re driving less, theoretically, your car insurance should be less as well.

Some car insurance companies offered a temporary discount to consumers during the initial COVID crisis. Their rationale was many Americans were struggling financially, plus they were driving less.

Well, if you are still driving less, give your car insurance company a call to ask about a rate reduction. Be sure to have an updated estimate of how much you drive your car each week. It may not be a huge savings, but hey, i doesn’t hurt to ask!

7) Travel

 
Since travel is restricted during this time, it makes sense to review your travel expenses for the future. Do you anticipate going on any trips in the future? Do you need to adjust travel plans, or cancel entirely?

Even if you are able to travel, chances are, it will look significantly different. You may choose to fly instead of drive, or you may plan to make your own food instead of eating out. Whatever you decide, take some time to plan and adjust your budget accordingly.

8) Entertainment

 
Oh entertainment. Most entertainment facilities, such as clubs, sporting arenas, concert halls, festivals, and other means of entertainment are not permitted to be open at this time. And due to the restrictions on the amount of people who can gather at a time, it’s not likely that entertainment venues will be up and running anytime soon.

But while typical means of entertainment may be closed, it doesn’t mean that you won’t have any entertainment expenses. It might simply look different. You may find yourself spending more on new hobbies instead of going out to spend money. Either Way, it warrants a second look at your entertainment budget to determine how much you plan to spend each month.

9) Giving

 
Lastly, everyone has a different financial circumstance and may need to adjust their giving accordingly. Maybe you’ve lost your job and can no longer give at the level you once were. Or maybe you still have your job and feel compelled to support those around you who weren’t so fortunate. Either way, consider your giving budget and adjust accordingly.

 
Related:
 

• How to Find a New Job During COVID

• Should You Start a Blog During COVID?

• 10 Affordable Ways to Practice Self Care During COVID

• Unemployed Due to COVID? Ways to Increase Your Cash Flow