Or would this be a second step since I’ve already posted about my emergency fund? Not really important. this step is about the first steps to take if you are wanting to see where your money is going.
For some this may be a difficult step, but trust me, it’s a very necessary one.
Ready?
Gather every bill you have and write it down. The bill, the minimum amount due, the total amount due, and (if applicable) the interest rate. For this baby step, the interest rate isn’t necessary, but it will save you from having to look it up again later, so you may as well go ahead and do it.
I wrote it down (then put it in Excel, but you don’t have to do that), and maaaaannn..I’ve got a lot of bills. Regular bills, before you even get into food or gas or other things. Remember people, this is a judgment-free zone. And that there are consequences to every action.
I then decided I would put it in a visual form as well. Using an Erin Condren monthly deluxe planner (but any sheet of paper will do), I put every bill on its due date:
Seeing it all laid out really puts things in perspective. It’s one thing to know you’ve got a lot of bills, and another thing to KNOW you have a lot of bills.
On that note, I need a breather…