Budgeting

The biggest challenge when starting over after losing everything is regaining financial stability.

I have to admit that was and still is the biggest challenge. How do you position yourself financially when you have nothing?

The first thing I did was consider what I could do professionally and how to do it effectively. Since I'm not fluent in languages, I initially looked for a job that would help me get back on my feet financially. But it was clear to me that I absolutely didn't want to stay in the same place, so I looked for ways to find a way out.

I found that approach and worked with it until I had the financial means to implement it.

To set aside the funds to achieve my goal, I started budgeting. There are many different budgeting systems. I did some research and decided to do it the old way. With pen and paper, and I still do it today. It always helps me have an overview.

Creating a simple weekly budgeting routine can help you manage your finances effectively and ensure you're on track with your financial goals. Here's a straightforward plan you can follow:

Weekly Budgeting Routine

1. Set a Regular Time

   - Choose a Day: Pick a specific day and time each week to review your finances. Consistency is key.

   - Duration: Allocate about 30-60 minutes for this task.

2. Review Your Expenses

   - Collect Receipts and Statements: Gather all receipts and bank statements from the past week.

   - Track Spending: Log your expenses in a budgeting app, spreadsheet, or notebook.

   - Categorize Expenses: Divide spending into categories (e.g., groceries, entertainment, bills).

3. Analyze Your Spending

   - Compare to Budget: Check how your actual spending aligns with your budgeted amounts.

   - Identify Patterns: Look for areas where you may be overspending or underspending.

4. Adjust Your Budget

   - Reallocate Funds: If necessary, adjust your budget categories based on your spending patterns.

   - Set Limits: Establish spending limits for the upcoming week to stay on track.

5. Plan for Upcoming Expenses

   - Identify Upcoming Bills: Note any upcoming bills or irregular expenses.

   - Allocate Funds: Ensure you have enough funds set aside for these expenses.

6. Reflect on Financial Goals

   - Review Goals: Check your progress towards short-term and long-term financial goals.

   - Make Adjustments: Adjust your savings or spending habits to better align with your goals.

7. Celebrate Small Wins

   - Acknowledge Achievements: Recognize any financial milestones or improvements.

   - Stay Motivated: Use positive reinforcement to stay committed to your budgeting routine.

By following this easy weekly budgeting routine, you'll gain better control over your finances and make informed decisions about your spending and saving.