I have provided 3 pintables in both A4 and A5 format of my budgeting sheet. These are downloadable for you to print from the comfort of your own home!
I paid off €15027 in debt in 1 year. During this year I developed the "4 Families Budgeting method" This has single-handedly transformed how I budget and makes me actually want to continue budgeting.
This is a priority-based budgeting system. It will put you in survival mode and so you can get into the mindset to thrive.
The 4 Families Consists of The Walls, The Longs, The Fundays and The Jones'. These are four different categories for you to break down your expenses in.
You start by entering the income from all the different sources. This is all added up and the total becomes your Starting Income.
It then moves to The Walls Family. This is where our needs are met and the categories that would go into this family are, Food, Housing, Transport, Utilities (childcare, medical optional). After adding these up the total is added. This is automatically subtracted to find the newest starting income
The same is repeated for The Longs which are your current minimum debt repayment, your non-essential bills and sinking funds.
The same is repeated for The Fundays Family which is the fun aspect of your budget. This is your self-care, wants and treats.
Finally, we are at The Jones' Family. This is where you are at looking towards your future. Extra debt payments, Emergency Fund, investing, saving for a mortgage, pension the list goes on.
Your starting income should end with zero.