Keep it simple! For 25+ years I’ve used a very simple spreadsheet to track my budget. It included monthly income, broken out by pay period, my savings goals per pay period (I always deduct savings first), and an itemized list of bills to track. On each payday, I update the sheet with any changes. I have a section for the month that has a list of bills to pay each pay period. I diligently go in at each payday and update the amounts paid. I repeat this over and over, month after month, payday after payday. I have always aimed to save 30% for short and long-term investing. This includes 401K, emergency funds, vacation, etc. The “pay yourself first” is insurance that happens. If I needed more to cover my bills, I’d know that I had an income problem to fix. It’s always either an income or outgo issue. It’s easier to fix the former IMO. I never reduced my savings goal, I would try to address the money gap on the income side by taking on extra work if possible.
This method is very simplistic. I believe people overcomplicate the budget process, get frustrated, and then toss it. Keep it simple and find a method that works for you. The main goal is to always live below your means so that you can build financial security for the future.
