Discover How to Create a Sample Bill for Planning Effortlessly

Sample bill for Planning

Let Me Get By the Light what's up guys and welcome back to my channel if you're new here I'm Diana and I'm the founder of money boss Mama many of you know me as money boss mama from Instagram and the last video that I uploaded I showed you guys how to break up your monthly budget per paycheck just to help you pace yourself and make it easier to stick to your budget so in this video I am going to quickly hopefully quickly walk you guys through how to set up a bill schedule and a bill calendar to help make sure that the budgets that you make per paycheck can be used again and again so one thing that I don't like doing is making a new budget every single month ain't nobody got time for that so I like to have a stable budget especially when I'm creating one for a client of mine and they are a budget beginner it's just a lot easier to you know um develop the habit of budgeting if there is consistency so if you get paid let's say three times a month the first paycheck which will be paycheck one that those expenses should stay the same paycheck twos expenses should stay the same as well as paycheck three so depending on which paycheck that you're on within that month you want to have consistency by making sure that that paycheck takes the similar expenses that it always has so I'm gonna show you guys how I recommend doing it so let's get started all right ladies so let's go ahead and get this thing started I am going to be zooming it today so you guys can see um the documents that I am looking at so first thing on the screen is a bill schedule or an expense schedule and basically what you want to do is list out all of your expenses so all of the regular expenses that you are paying for and it should be really easy if you already have a budget and if you don't have a budget it's going to make it easier to create your budget because you know what expenses you have to pay for regularly so this is an example of a previous client of mine so you want to list the bill or the expense the anticipated amount due so I know that not every expense has the same amount so there are bills that fluctuate such as you know electricity your water bill things like that that fluctuate based on usage so you want to just take the average you can take the average of the last six months and then whatever that average is depending on your comfort level you can add a buffer to it so like a twenty thirty dollar buffer and then that should give you your anticipated amount due so you will list that out as well as the day due of each month and the day due of each month is very important because that's going to help you see which paycheck of each month should cover this expense now I will say with this clients and I chose her specifically she does does have a lot of expenses so it does look overwhelming and that is because she has a lot of expenses so she has she lives in an area that's a High Cost of Living and she has a husband children um they do have quite a large family but um this does show you that you don't just have to put down your bills or expenses you can put down your naughty centrals too to keep everything all in one place now when you get all of your expenses listed out then you will plug them into a bill calendar I like to do this especially if you are a visual person it's going to help you to visually see and make sure that the budget that you have set up for each paycheck is going to work with the following months so that you don't have to really adjust anything and so with the calendar canva you can download a calendar for free I I made this one and um Google Documents if you have a Gmail account with the Google Drive you can create one yourself this is how I did it and I like it because it can be used through your mobile phone and you just type in there so you'll notice here on the bill payment calendar we have a color key so paycheck once expenses are in pink and paycheck twos expenses are in yellow and this just helps us to see based on what paycheck is covering each expense and this month will it work for September as well and now this little calendar is a different client um the previous clients just looked a little too complicated so we're just gonna keep it short and sweet with this one so you'll see here we have our pay dates listed so we know which days were being paid and then the expenses that are following after that it's just a lot easier to see what needs to be paid from what so this is pink and this is yellow because this is the second paycheck of the month so you'll see here we have these expenses and pink this means that it's going to be paid from this paycheck and here on the auto loan this is a half payment method which means that she's going to have part of the um auto loan pulled out from paycheck one and then part of it pulled out from paycheck two so although this payday is the payday we started working out of the budget we created together um you'll see here that there is a yellow portion that just means that before we started working out of the budget we created together her previous paycheck she pulled out half of it to pay for half of this auto loan so she was already ahead by half a payment in her account and so that helped us to make sure that the high payment method was going to be safe for her to start on this specific payday and so here we had you know Chase and her it's an expense called self that's being taken from paycheck one paycheck to life insurance Disney plus things like that so depending on the budget that you set for each paycheck of yours whether you get paid twice a month three times a month four times a month it doesn't matter depending on the budget that you create for those paychecks you're going to plug in the first month that you're going to be using and then you're going to plug in at least two more months after that to make sure that depending on which expense you have covered from each paycheck is going to work with the following month so one thing that's important to note is that based on the due dates from your bill or expense schedule that you have listed out you want to go into every single calendar and just first things first plug in the expense on its due date and then based on the first month that you're going to start using this type of budgeting method then you'll go in and make sure that based on the due dates and then the paycheck that you use for those expenses is going to be able to be the same for the following months all right so scrolling down now to month two we have the expenses the same discover chase the half payment method on the auto loan just like it was for this month now you may see something a little little different we have two expenses that weren't included in this first month so she has iCloud and Priceline that was not included in this month and that's because based on the due dates it came before her first paycheck that we were going to be using this budget for so that was already covered the due on the third and so she didn't get paid until the sixth so her previous paycheck already covered that so we just left it out of the bill calendar for this month but paycheck 2 is in yellow we have Disney plus life insurance uh pantaya and that is covered from paycheck 2 and this month also and we can see based on the payday it's going to come in before these expenses are due so we are able to safely leave the budget alone for these expenses now HBO Max was a little different so in August we had it being covered from paycheck one and that is because paycheck 2 came a day after its due date it's due on the 19th and so on the 19th here it's a Sunday it was most likely taken out on that uh Friday which is the 17th which it could have still worked but based on how her budget was it would make it a little too tight and so we just had paycheck to taking that so now I want to scroll down to the third month to see how everything worked out so for paycheck one these are the same expenses that were taken from paycheck one's budget in the previous month so iCloud Priceline chase the auto loan is still the half payment method all of that is the same and then paycheck to that is able to stay the same also so you don't have to create a whole new budget and now if you are someone who just gets paid twice a month you are going to have some months in which you have a a third paycheck and so what's really cool about this is that you're budgeting for two paychecks a month so just based on the month that would come after this you'll see what needs to be paid from this payday because you're going to have that gap between this third paycheck and then paycheck one of the following months you need to make sure those expenses are taken care of but the way that you have your paydays and the expenses laid out payday one these are payday ones expenses so you can reimburse yourself whenever you finally get to your payday one of the following month and that way you can free up some funds from Payday three or your extra paycheck or you can just pay up some bills it's just however you prefer to do it but you'll see here that paycheck ones expenses are the same this is a Sunday so these two 2 will probably be taken out on the first which is that Friday still works for that payday and then paycheck twos expenses are the same so as you can see here for the next few months this client is safe to keep pretty much the same budget for each paycheck paycheck one's budget should rarely ever change and paycheck two's budget should really ever change and then once she gets through October she can choose to continue to make extra Bill calendars just to make sure that the budgets are still going to work with her pay dates that way she's not putting herself under in her bank accounts all right you guys that wraps up this video if this was super helpful to you make sure to give it a thumbs up for those of you who get paid weekly and monthly I am going to be making budgets for you guys to show you how I recommend creating your budget especially one that is going to be consistent but whether you get paid weekly bi-weekly whatever you can use this uh video the tips in this video to help make sure that each budget is consistent but just hold tight if you're not a bi-weekly person I got you but in the meantime let me know any questions you guys have in the comments any additional tips and I will catch you in the next one