BUDGET

Rock Star!
5 STEPS TO CREATE A
SUCCESSFUL MONTHLY BUDGET

EDEN ASHLEY
MINTNOTION.COM
READY TO REGAIN CONTROL OVER YOUR money?

Hey there Gorgeous!

Thank you for downloading Budget Rock Star! You’re already one
step closer to taking back control of your finances so you can reach
your goals. YAY!

Just a few years ago, I struggled to save money. I used to work at an

office and would spend my lunch hour shopping online. I was
constantly buying things I didn’t need, and I felt like my life had no
direction.
 
As soon as my paycheck would hit my bank account, I would spend it. Saving money was not something I
knew how to do. I was a spender at heart.

Then one day I decided to go to back to school. I created a budget and made a plan to save money instead
of blowing it on things I didn’t need. Creating a budget changed my life. It let me pay for my graduate
degree with cash, which meant I left college with NO debt.

Over the past few years, I’ve gone from being a shopaholic to becoming a master of my finances. That’s
why I created this helpful guide, so you too can better manage your money.

My comprehensive resource, the Budget

Budget Planner,
Planner, is designed to help you transform your financial
situation -- from spender to saver. It includes over 130 printable pages to help busy, goal-driven women,
just like you, regain control over their money. There's a special offer waiting for you at the end of this
guide that you don't want to miss!

In the meantime, this Budget Rock Star guide shares five simple steps to tune up your budget so you can
make a plan for your money. My hopes are for you to use these worksheets to help make your financial
journey easier for you to navigate. It’s time to make this year your best one yet -- let's do this!

XO, Eden

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 Step 1 Finding My WHY
Your WHY is the thing that inspires you. It fires you
up and gets you excited. It’s your reason for getting
up every day, both personally and professionally. It
keeps you moving forward even when you’re not
motivated.
 
If you want to be successful with your budget, it’s
important to find your WHY. Knowing your WHY is
the essential first step in figuring out how to achieve
the goals which excite you.
 
Identifying your WHY can also help you stay
motivated and take the risks you need to get ahead.
For example, if your goal is to pay off credit card
debt, knowing WHY you’re making temporary
spending cuts can make it easier for you to be
successful.

Use this worksheet to help you discover your WHY.

Follow the instructions in each step and write down
your answers in the boxes.

STEP 1:

What do you love to do? Make a list of things you love. Perhaps it’s spending time with family or friends,
working on a hobby, traveling, or going to your job? Maybe it’s a person that you really
love and care about, such as your partner, your parents, your child, or your sibling?

STEP 2:

Identify the times when you were the most happiest. What were you doing? What made these
experience memorable for you? Use these experiences to help make a list of personal values that are
important to you. Perhaps you value financial security? Family? Health? Community?

STEP 3:

Write down your WHY. Look at what you wrote down in Steps 1 and 2. For each point you’ve listed, ask
yourself why you love it. Why is it important to have “it” in your life? You’ll find that by answering
this question, you’ll discover what’s really important to you. This will help you articulate your WHY.

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 Step 2 Goal Setting
Use your WHY to help determine your financial goals. Most people create a budget because they want
to accomplish more with their money. Knowing your goals can help you align your budget around
achieving them. You’ll decide how much you need to set aside to reach each goal.

Your goals can be anything you want. Maybe you want to pay off credit card debt, or save money to
purchase a car, or build an emergency fund. The more specific you can get, the easier it will be to break
down your goals into manageable steps.
 
Think about what you want your finances to look like a year from now. By starting today, you’ll begin
planting the right seeds for a successful financial future.

Use this worksheet to help you determine

your financial goals. Once you’ve identified
your goals, you’ll need to determine exactly
how much money you need to save.
 
For example, if you want to build a $1,000
emergency fund within five months, this
means you will need to save $200 per
month. To break this down further, you’ll
need to save $50 per week.
 
Knowing how much money you need to
save on a weekly, monthly, or yearly
basis, can help you create a budget
which reflects your savings goals.
 
When you know how much money you
need to save, you can lower your expenses
until you reach your monthly savings goal. If
lowering your monthly expenses is not
feasible right now, you may want to
consider finding ways to increase your
income. From my own experience, making
temporary sacrifices with my spending and
increasing my income helped me reach my
financial goals faster.
 
If you’re interested in finding ways to boost
your income, I recommend checking out
helpfulposts
these helpful postsI wrote.
here.

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 Step 3 Your Monthly Expenses
Before creating your budget, you need to know
what your monthly expenses are. This includes
both your fixed and variable expenses. An easy
way to figure this out is to look at your previous
bank statements to see what you spent. Or you
can track your expenses for a month.
 
Use the Fixed Expenses worksheet to help
determine all your fixed expenses.

These are expenses that you MUST pay each

month, such as rent / mortgage, electricity, gas,
water, savings plan, debt payments (credit card,
car payments, student loans, personal loans),
and so on.

Think of your monthly expenses as costs that

you can NOT go without paying. For each
expense, ask yourself if it can be reduced or
eliminated.

For example, can you negotiate a cheaper cell phone plan? Do you still use your gym membership?
Can you find a cheaper place to live?
 
NOTE: Your groceries can be considered a fixed monthly expense, since you need to buy groceries to
eat. However, I like to include them in my “Variable Expenses”. You can choose to include them in
your fixed or variable expenses, it’s up to you.

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 Step 3 Your Monthly Expenses
Now that you've determined what your
current fixed expenses are, the next step is
to write down all your variable expenses.
Again, an easy way to figure this out is to
look at your previous bank statements to
see what you spent. Or you can track your
expenses for a month.

Use the Variable Expenses worksheet to

help determine all your variable expenses.

These are non-essential expenses, such

as dining out, vacations, entertainment,
lunch with friends, gifts, clothes, shoes, and
so on. For each expense, ask yourself if it
can be reduced or eliminated.

For example, do you need to go to the nail salon every month? Can you eat less at restaurants and
cook more meals at home? Do you need that new outfit or is it an impulse buy?

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 Step 4 Make a Debt Payoff Plan
If you want to reach your financial goals, you need to have an accurate picture of your current money
situation. This includes knowing your income (how much money you actually bring home each month),
your monthly fixed and variable expenses, your current savings, and how much debt you have.
 
Use the Debt Overview worksheet to get a handle on how much debt you have so you can create a
game plan for paying it back. Write down all your debt, including the balance, interest rate, minimum
payment, new monthly payment (if you’re making extra payments), and your target payoff date.
 
There are two popular methods you can follow to help you get out of debt fast. They are the debt
snowball method or the debt avalanche method. Each method has its pros and cons.

DEBT SNOWBALL METHOD

Most people pay only the minimum monthly payments on their credit cards and other debts. But if
you’re serious about paying off all your debt fast, you may want to consider using the debt snowball
method.

Just like packing more snow into a tight ball so it gains momentum and speed as you roll it down a hill
during winter, this debt reduction strategy can be a highly effective way to pay off debt quickly.

How the Debt Snowball Method Works

Step 1: List all your debts from smallest to

largest. If two debts have similar balances,
list the one with the higher interest rate
first.

Step 2: Make minimum payments on all

your debts except the smallest. 
  
Step 3: Pay as much money as possible on
your smallest debt.

Step 4: Once the smallest debt is paid off,

start putting that extra money towards the
next smallest balance. Repeat until each
debt is paid in full.

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 Step 4 Make a Debt Payoff Plan
DEBT AVALANCHE METHOD
This method involves making minimum payments on all debt, then using any remaining money to
pay off the debt with the highest interest rate.

How the Debt Avalanche Method Works

Step 1: List all your debts in the order of the

interest rate on each loan or credit card. Start with
the highest interest rate and work your way down
to the lowest. If two debts have similar interest
rates, list the one with the higher balance first.

Step 2: Make minimum payments on all your

debts except the one with the highest interest
rate.

Step 3: Pay as much money as possible on your

debt with the highest interest rate.

Step 4: Once the highest interest rate debt is paid

off, start putting that extra money towards the
next debt with the highest interest rate. Repeat
until each debt is paid in full.

Which debt payoff method is right for you?

The debt avalanche method will save you the most money in
interest payments, which sounds good on paper. However, many
people prefer the debt snowball method because you see instant
progress when you knock off smaller to larger debts.
 
There is no right or wrong method. It’s important to pick the debt
payoff method that you can actually stick to.
 
If you prefer to save the most money and you have good
patience, then choose the debt avalanche method.
 
If you prefer to see instant results and need that to keep you
motivated, then choose the debt snowball method.

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 Step 5 Make a Monthly Budget
A budget is essentially just a plan for your money. Creating a budget means you’re making a plan for
how you want to spend your money BEFORE the month begins.
 
If you don’t plan your budget before the month starts, you’ll end up just tracking your spending
instead. And if you’re just tracking instead of planning ahead, this can be a surefire way to
overspend or feel stagnant with your financial situation.

BUDGET CALENDAR
To help meet my goals and avoid surprise
expenses, I like to map out everything on a
calendar. This includes any bill payments, events,
birthdays, and vacations, and so on. I highly
recommend doing this at least one week before
the month starts. For example, when creating my
monthly budget for May, I’ll start planning during
last week of April.

This lets me know when those seasonal or one-

time expenses are coming up, so I don’t forget to
include them in my budget. Use this worksheet to
help you plan ahead each month.

For those who live paycheck to paycheck, you MUST know when
money is coming in and when money is going out. I’m not just talking
about your bills. You also need to know when you need money for
specific events.
 
This may include buying a birthday present for an upcoming party, or
expenses for your child’s school field trip, or meeting your parents for
lunch, or when you need to buy a dress for your friend’s wedding. It’s
important to keep track of all these dates on your budget calendar.

Here's some other important information you’ll want to include on your budget calendar:
 
Income. If you know when you’ll receive money, such as regular paychecks or side hustle
income, add your paydays to the calendar.

Bills. This includes any expenses for the given month such as rent, cell phone plan,
subscriptions, and so on.

Savings. You can schedule transfers to an account to help you save up for your goals, such as
an emergency fund, a home, and so on.

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 Step 5 Make a Monthly Budget
Now it’s time to put together your monthly budget! Use the Zero-Based Budget worksheet to get an
make a monthly budget. This budgeting method means your income minus expenses will equal
zero. With a zero-based budget, every dollar you have is assigned a job. Some of your dollars will be
assigned to paying expenses, some of them will go towards your savings, investments, or paying off
debt. I am a big fan of this budgeting method.
 
Many people have mixed feelings when it comes to creating a monthly budget. However, a monthly
budget is one of the best ways to help you get your money under control. A budget lets you create a
spending plan for your money. This ensures you’ll always have enough money to cover your needs
and the things that are important to you. Sticking to your budget can help prevent you from getting
into debt or help you get out of debt.

Budgeting also has a number of other great benefits, including:

 
It helps you stay focused on reaching your goal (such as to
buy a house).
Helps you save for retirement.
Helps you understand your spending habits.
Prepares you for any emergencies.
Relieve stress because you’re spending within your means.

HOW TO MAKE A MONTHLY BUDGET

Step 1: Write down your income for the month. Make sure to include ALL sources of income such as
wages from your job, rental income, side job income, child support, business income, and so on.
 
Step 2: Write down all your fixed monthly expenses under the Monthly Bills section. After you’ve
written down all your fixed monthly expenses, subtract the total bill amount from your income. For
example, if your total monthly income is $3,000 and your fixed monthly expenses are $1,500, this
means you have $1,500 leftover to budget for your savings, debt payments, and variable expenses
(daily living spending).

Step 3: List all the sinking funds that you'd like to save for. Sinking funds are specific savings goals.
You can set aside money each month to save up for these goals, such as Christmas, travel, or a
down payment on a home. Calculate the total amount of money you want to put towards your
sinking funds, then subtract this amount from your leftover bill amount. Write the difference under
"leftover". For example, if your sinking funds total is $300, the difference will be $1,200. ($1,500 -
$300 = $1,200).

Step 4: Write down how much money you'd like to put towards your savings plan this month, such
as your savings account. Calculate the total amount and subtract it from your leftover sinking funds
amount. Write the difference under "leftover". For example, if your savings plan total is $300, the
difference will be $900. ($1,200 - $300 = $900).

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 Step 5 Make a Monthly Budget
Step 5: If you're paying off debt, write down how much money you'll be putting towards debt
payments this month. If you don't have debt, you can leave this section blank. Calculate the total
amount and subtract it from your leftover savings plan amount. Write the difference under
"leftover". For example, if your debt payment total is $200, the difference will be $700. ($900 - $200 =
$700).

Step 6: Write down all your variable monthly spending under the Daily Living section. Notice how
your variable expenses come AFTER your monthly bills, savings and debt payments. This is because
it’s important to prioritize your goals first. You may find it’s necessary to temporarily reduce your
variable expenses until you can reach your financial goals.

Decide how much money you’d like to budget this month for each budget category in your daily
living expenses, such as groceries, entertainment, restaurants, and so on. Calculate the total amount
and subtract it from your leftover debt payment amount. Write the difference under "leftover". For
example, if your daily living total is $700, the difference will be $0. ($700 - $700 = $0).

If you get a positive number, this means you’re spending LESS money than you earn. This is great!
You can put this leftover money towards your savings plan or paying off debt. Every dollar should
have a job.
 
If you break even, this means you’re currently spending the EAXCT amount of money you earn. You
may want to take another look at your variable spending and see if you can reduce it. This will give
you a bigger cushion in case something comes up that you didn’t plan for.
 
If you get a negative number, this means you’re spending MORE money than you earn. This is not
good. The quickest way to adjust your budget and make sure you break even or get a positive
number next month is to reduce your variable spending.
 
If you’ve already reduced your variable spending, you may want to find ways to temporarily cut back
on your fixed expenses. For example, we got rid of cable to reduce our monthly fixed expenses. I
also switched to a cheaper cell phone plan by negotiating a new rate with my mobile provider.

If you’re creating a budget for the first time, this is the part where many people want to run and
hide. You may even cry after seeing your number (tears are common at this point). Whether it’s
positive, you break even, or you get a negative number, knowing what your number is can help you
plan your financial future.

MAKING ADJUSTMENTS
Whew! You’ve just completed all the essential steps towards creating a successful budget.
Congratulations! You’re a Rock Star!
 
Remember the first month or two of budgeting can be overwhelming. But it’ll become easier to stick
to your budget once you get the hang of it.

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 Step 5 Make a Monthly Budget
The important thing is to implement your new budget, reflect to see how your budget is working for
you, and make adjustments to ensure that your budget is aligned with your financial goals.
 
You deserve to have peace of mind about your finances so you can stop living paycheck to paycheck,
get out of debt, and save more money. A peace of mind knowing that your money is working for you
and that you’re prepared for life events to the best of your ability.

If you’re like most of my readers, you’re a go-getter,

who’s ready to improve their money situation so you
can provide a better life for yourself and your family.
To have a more fulfilling and satisfied life.
 
With the right tools at your fingertips, you can create
a budget that helps you achieve the goals you’re
working towards. Whether you want to get out of
debt, save for retirement, or just cut down on your
restaurant spending, a budget is a plan to help you
get there.

Just a few years ago, I struggled to save money and made a lot of financial mistakes. I realized that I
needed to find a tool to help me get organized and stop stressing about money, and most
importantly -- one that reflected my own lifestyle and goals.
 
I tried using digital spreadsheets and budgeting apps, but I never saw results. It wasn’t until I started
writing everything down on paper that I had that "aha" moment I had been looking for. That's why I
created this complete budgeting resource for myself.

YOUR NEXT STEPS TOWARDS

FINANCIAL FREEDOM
Budget Rock Star is just your first step in creating a
budget. This was your tune up before the big show.
 
Introducing the Budget
Budget Planner
Planner printables
printables
39 beautifully designed pages to help you save
more money and reach your goals faster. 
 
Using pen and paper might be old-school, but these
budget templates were created for real life. They
were designed for busy, goal-driven women, just
like you.

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Highlights of the Budget Planner printables package:

You’ll get printable worksheets to help you organize your finances, create a realistic budget, save
more money, stop living paycheck to paycheck, and so much more!
There are 39 pages.
Includes six cash envelopes (or cashless envelopes) to help you track and manage your daily living
expenses, such as groceries, restuarants, gas, and shopping.
FREE BONUS: Includes a how-to use e-book full of tips on how to best use this Budget Planner
printables package.
Instant digital download (PDF) with the click of a button.

Because you downloaded Budget Rock Star, I want to offer you a special discount code.

When you purchase the Budget Planner, use the code ROCKSTAR at checkout to save 20% off your
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This special code will only be available for a limited time only. Act quickly to grab this Budget Planner
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