GMBMFB monthly budgets moving forward
I’ve been experimenting with different ways of blogging about my monthly budgets. I’ve been showing you my Excel spreadsheet for so long that I wanted to change it up. I even thought about not posting my budgets anymore, but I think I still need them for me. :)
So here’s what I’m experimenting with this month – my budget based on percentages:
The above chart just shows averages. When I recap my budget at the end of every month, it’ll show the percentage of what I actually spent that month.
I also considering cutting back on the number of categories, and it would look like this:
Overall, I like showing percentages better because:
- It eliminates the dollar value so that we are really only focusing on what percentage of my income is going to each category.
- I based my previous budgets on my full-time income, and did not include what I did with my freelance income.
- You can see my savings rate in comparison to the rest of my monthly spending.
Switching to percentages means you can now see where all of my money is going, and even though I’d no longer be sharing dollar figures, I think this is a more transparant way to show my spending and savings.
What do you think?
Author: Krystal Yee
I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.