Budgeting often fails because we spend impulsively, then regret it—much like dieting and binge eating. An article from AOL, Approaching Budgeting Like Dieting, explains that budgeting succeeds for about the same number of people as dieting. To avoid failure, plan ahead to resist temptation, just like stocking your pantry with healthy foods when dieting.
Your budget is like a diet plan for your money. Here’s how they compare:
| Step | Dieting | Budgeting |
|---|---|---|
| Estimate | Set weight loss goals | Estimate monthly expenses |
| Track | Track your meals | Track your expenses |
| Simplify | Buy only healthy groceries | Set automatic savings and bill pay |
If you're ready to stick to budgeting, keep reading!
To get started, use this Google Sheet. Make a copy of the sheet to fill in your numbers (click "File" > "Make a copy"). This simple tool helps you break down your finances into categories.
If you want a simpler start, try:
Once you’re comfortable, explore other budgeting methods by clicking the button below:
When you open the sheet, focus on filling the green cells with estimated costs. Gray cells calculate automatically—don’t edit them.
Copy your credit card statement into the monthly expense sheets. Assign categories to your expenses to track patterns. Adjust your spending as needed to stay within limits.
The second sheet calculates long-term savings like retirement. We can review this together to customize it for your needs.