A bullet journal is an excellent source for organizing and keeping track of your finances. With a bullet journal you can monitor your income, expenses and spending habits, set up a bill paying system, create a savings plan, and keep track of your debt reduction efforts. This type of journaling system keeps all of your finances in one journal.
I include the financial planning pages for each month with my monthly calendars. That’s my personal preference. You could, however, dedicate a section of your journal solely to your financial planning pages rather than include them in your monthly pages. As always, do whatever works best for you.
Record Your Income and Expenses in Your Bullet Journal
You can start the financial part of your bullet journal by creating an income and expenses spread where you can record your monthly income and your monthly bills. It’s like setting up your budget sheet. Create a section to record your monthly income. Below that, list all of your monthly expenses including your bills and their dues dates.
Track Every Cent You Spend With Your Bullet Journal
Your finance section should also have an area where you can track your spending on a daily basis. This is necessary so you know where your money goes and in what areas you might be able to cut back. Perhaps you find that you spend a good portion of your extra money on Starbucks or dining out and they are costing you too much. By tracking what and where you are spending your money, you can begin to get a handle on your spending and start making changes.
Natalie’s Expense Tracker from pages2plans is detailed and appears to track everything in her bank account.Or, you can just simply list the expenses you want to keep track of like the expense tracker featured on Her Campus below
Create a Savings Plan With Your Bullet Journal
Part of tracking your finances in the bullet journal can be to start a savings plan. This might include saving for specific things, such as your child’s college fund, buying a new car, or perhaps new furniture. You can also have open-ended savings plans, such as wanting to save money for a 10-year plan you have in mind, or just saving for your retirement. It helps to first list your main expenses and what you currently spend for a while so you can see exactly what the leftover money will be for your savings plan. It can be simple like Suzi’s from www.startamomblog.com.
Keep Track of Your Debt Reduction Efforts
Whether it’s a little bit of debt or a lot of debt, it’s always encouraging to have a visual of your debt reduction efforts. I really like the Debt Snowball Tacker from Debt Free Panda. It’s simple but powerful.
Separate Business and Personal Finances
If you run a business, make sure you are keeping your business and personal finances separate. This helps you to differentiate what is spent on your personal lifestyle and what money goes towards your business responsibilities but also helps to reduce combining work and personal stress. Having separate bank accounts and separate funds for them is also highly recommended.
Consider leaving a few extra pages following the financial section of your bullet journal just in case you decide to add different spreads later on.
As with everything, you need to actually use it and be consistent in using it to make it work for you. But if you do, the benefits and possible money saved will be your reward for the extra effort you need to make in keeping track of your finances in your BUJO.
There can be only one,
Melissa (BUJO lovin’) Shantel
Want to learn more about bullet journaling? Please check out my other posts: