I’m changing up my 2022 budget for a fresh start. My budget has changed every couple of years based on my lifestyle. Sometimes it is very simple and other times I need to track many categories. 2022 will be one of the years where I need detailed tracking.
While most categories are on a monthly basis, some of them are every couple of months. I will not spend the full amount list4ed in Health every month, but I am allocating some money for out of pocket prescription costs. Any unused balance will roll over to the next month until it is needed again.
I will continue to use Mint.com to track my finances as it is a great and easy way to do so. I also use a spreadsheet to track daily outflows and inflows, and manage credit card payments. I pay everything on the card and then pay the card in full at the end of the month.
My old budget
My new budget will have a slight decrease in Mortgage/Rent as I was classifying a fee as part of the rent. I’m moving that to a separate financial fee category so I can track it better over the year.
The Financial category also contains active saving in after tax retirement accounts and small additions to regular savings.
The Savings/Left over category will be what I haven’t allocated or used for the month. This amount will go into savings, unless I have overspent in another category.
My new budget
I know it looks like I may be over tracking and focusing on small details. I am doing this because I am saving for a particular goal and I want to see exactly where I am each month in terms of that. Some categories are larger than they need to be and any unused money will roll over to the next month.
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