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Tab M0ney Habits: My Budget – My Spending Habits = My Reality!

My Budget – My Spending Habits = My Reality!
Read Time: 2 minutes
Word Count: 419 words

Written by: Tab M0ney

“I do not understand budgeting, what is a budget?”

A budget is a plan, a blueprint, a roadmap! Budgeting is spending with purpose and intentions before the month begins! Budgeting is the foundation of financial freedom!

By analyzing our spending habits we have an idea of what to the budget/project for the next month. See

  1. Create Your Budget

Start with important categories first (subjective to the individual/family) i.e. rent/mortgage, utility bills, student loans, credit card debt, car notes, food, transportation, etc.

  1. Budget to ZERO dollars ($0.00) before the month begins

Every dollar gets a name before you spend it!

For example, if you earn $10.00/hour at your job and work 8 hours, 5 days a week, before taxes your estimated salary every 2 week is $400.00.

Budget $400.00 for the month.


Example: Projected Budget – September 2018


Categories Projected Budget – September 2018
Pay myself 10% first $40.00
Rent N/A
Cell phone bill $50.00
Car note $150.00
Student Loan N/A
Transportation $40.00
Food $60.00
Vices $30.00
Hobbies $25.00
Entertainment N/A
MISC/WAM (Walking around money) $5.00
Labor Day Weekend/Vacation N/A
Total $400.00

Question: Our Budget is tight… Where can we make budget cuts?

Every month is different! Some pay their car insurance every 6 months, every 3 months; special occasions such as birthdays, holidays, and vacations occur as well… plan ahead!

  1. You look at the calendar and you see Day 25 is approaching, you know it’s time to budget for the next month!

At the end of the end of the month is when you analyze the present month and plan/budget for the next month. If you have been practicing Tab M0ney Habit$ and have been writing down your actual expenses for the month and have been projecting expense for the next month, I need you to subtract your actual expenses from your projected budget. See the example below.

Categories Projected Budget – September 2018 Actual Expenses  – September 2018 Am I sticking to my budget? Projected Budget – October 2018 Actual Expenses  – October 2018
Pay myself 10% first $40.00 $40.00 $0.00 Yes
Rent N/A N/A N/A
Cell phone bill $50.00 $50.00 $0.00 Yes
Car note $150.00 $150.00 $0.00 Yes
Student Loan N/A N/A N/A
Transportation $40.00 $35.00 +$5.00 Yes
Food $60.00 $45.00 +$15.00 Yes
Vices $30.00 $40.00 -$10.00 No
Hobbies – $25.00 $25.00 $0.00 Yes
Entertainment – N/A N/A N/A
MISC/WAM (Walking around money) $5.00 $15.00 -$10.00 No
Labor Day Weekend/Vacation N/A N/A N/A
Total $400.00 $400.00 $0.00 Yes
Self-Analyze: What areas need more funding? Is your budget realistic? Can you make budget cuts? Are you on track to meet your long-term goals?

Your budget is the plan!

Execute the plan!

Be realistic!


Tab M0ney Habit Loop

Trigger: End of the Month is approaching

Routine: Set Budget for the next month

Reward: Extra money to save, financial stability

The trigger and reward do not change, only the routine changes! Changing Routines! Changing Habits!



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