Home » January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals financial goals worksheet

January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals financial goals worksheet

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Ryen & I are talking about our January 2021 budget numbers! Not only do we show where our dollars went, but we also discuss our failures and what financial goals we were able to accomplish.

In this video, Ryen is announcing a new savings goal and I am detailing going over budget in January.

What do you do with your budget after the month is over, and you’re ready to begin a new month? Most people don’t realize it, but your spending throughout the month gives you some incredibly helpful information.

One of the first steps to creating and sticking to a realistic budget is tracking your expenses. Your spending is the underlying foundation for creating a budget and ensuring that your budgets in the future are successful.

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If you are not aware of where your money is going, you can’t make the best decisions for your dollars. Today, I am going to show you how to extract all of the vital information from your expense trackers using

CHAPTERS
00:00 Intro
05:55 Monthly Budget Category Breakdown
13:40 Monthly Debt & Savings Breakdown
21:29 Monthly Spending Comparison
28:26 Conclusion

➡️ HOW I TRACK MY SPENDING:
➡️ HOW TO USE A BUDGET CALENDAR:
➡️ FINDING YOUR WHY:
➡️ THE BUDGET MOM’S FINANCIAL FREEDOM STEPS:
➡️ HOW TO GET STARTED WITH THE CASH ENVELOPE METHOD:
➡️ HOW TO CREATE A PLAN OF ATTACK TO PAY OFF DEBT:

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ABOUT ME

I’m the blogger behind I have a rambunctious 6-year-old son, live in Washington, and I’m passionate about helping people with money management and personal finance. Let me know what you like to learn more about! Leave me comments and suggestions on my video and let me know!

YOU CAN FIND ME AT:

📝 BLOG:
📘 FACEBOOK:
📸 INSTAGRAM:
📌 PINTEREST:

GET STARTED

➡️Start Here:
➡️Free Email Course:
➡️Free Resources:
➡️GET 10% OFF my popular Budget-by-Paycheck Workbook – Coupon Code TBMYOUTUBE .

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January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals

January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals

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30 comments

Lila O'Quin 23/09/2021 - 3:10 PM

I am so thankful for your content and community. Thank you!

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Diana Chacon 23/09/2021 - 3:10 PM

Does anyone know where she keeps her sinking funds or other savings? Does she have various separate bank accounts or does she keep large amounts of money in envelopes? In other words, how does she keep her saved money for different categories separated ?

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Kelsey Armstrong 23/09/2021 - 3:10 PM

What pet insurance do you have?

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The Budget Newbie 23/09/2021 - 3:10 PM

I am hooked on your videos and am starting my budget by paycheck journey this month. I would love to see a more updated set up of your budget. Especially Ryen's (with debt) but also you talk about cash flowing smaller birthday and expenses. How do you do this? Is it treated as a bill or a one off envelope for the month?

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Heather Liedl 23/09/2021 - 3:10 PM

This video JUST answered all the questions I had while doing my February recap. INFLOW makes so much sense now. Plus calculating the savings based on actual income vs. inflow. THANK YOU!

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Tanaja Edwards 23/09/2021 - 3:10 PM

do you count sinking funds as savings?

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Lily Bastian 23/09/2021 - 3:10 PM

Do you have any tips for someone who doesn’t have consistent work? I’m a college student who is only able to work over summers and winter breaks and struggle to determine how much I need to save and make in order to stay afloat during the semester

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Shop.Eat. Repeat. 23/09/2021 - 3:10 PM

I don’t see mortgage or rent in the category. Is this in a different area?

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Alondra Lala Sanchez 23/09/2021 - 3:10 PM

Kumiko where did you purchase your label maker?

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Stacey Lynn 23/09/2021 - 3:10 PM

What kind of bank should we have for the big sinking funds?

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Stacey Lynn 23/09/2021 - 3:10 PM

I'm new to this budget thing but I'm focused hard because I wanna get a home for my family!

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Vee Gee 23/09/2021 - 3:10 PM

I addressed the issue of inflow as 'added budgeted income' about two years ago. I realized the need to account for funds accumulated in previous months but used later on. I use the same idea you have about not counting those funds as income.

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Jennifer Orton 23/09/2021 - 3:10 PM

Thanks for the in depth explanation. I want to get started using TBM method, but first I have two questions. First, for food, do you include everything you buy at the grocery store like TP, paper towels, shampoo, etc? Or do you go through your receipt and separate those things into another category like household, health/beauty??

Second, my husband gets paid twice per month, so the BBP method works well. But I also have my own laundry business where I get paid through an app multiple times per week, and it’s variable from week to week. How do I include that income schedule and fluctuation into the BBP method? Thank you!

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Louisa Ruby 23/09/2021 - 3:10 PM

I love this concept of "inflow"! I started including cash gifts as income but it felt weird since it wasn't earned income but the different categories of inflow makes a lot of sense!

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Lianne Cronin 23/09/2021 - 3:10 PM

I'm not sure the revised way of calculating % saved is accurate. Rather than inflow I think of it as available funds. What % of funds available to me did I save. Say I have 100 dollars for my partners birthday in a sinking fund but only spend 90 dollars on his present, then the remaining 10 dollars is available to me to either spend or put towards other savings goals.

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Corrinna Colby 23/09/2021 - 3:10 PM

I would be interested to see your savings and sinking funds funding separated. I feel like sinking funds aren't really saving–they are budgeting for a future planned expense. Just a thought. I totally love The Budget Mom–I've been doing budgeting by paycheck for years and years and I love the resources you have made available that allow me to finally track in a meaningful way.

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Rabb’s Wallet 23/09/2021 - 3:10 PM

i love when you two are together doing the last months reviews!

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Michelle Morales 23/09/2021 - 3:10 PM

"Inflow for cash flow" Love that!!!
That makes alot more sense. Alot of times I don't even record a sinking fund inflow, if I'm using the whole thing… like for Vacation.

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Judy Dickson 23/09/2021 - 3:10 PM

Hi, can you share your nail polish kit you used. I love the colour. Thanks for the great video.

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Kat Thompson 23/09/2021 - 3:10 PM

How do you keep track of your checking account cushion as you use it so that you know how much you have to replenish? Do you use a separate spending tracker?

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gaffercat 23/09/2021 - 3:10 PM

I love the Zebra mildliner set! Cute colors! I'll try to copy your scheme next month.

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Stormbrise 23/09/2021 - 3:10 PM

Asking again for international shipping on your workbooks

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GiGi K 23/09/2021 - 3:10 PM

Reusable Menstrual Pads HatThatStore E T S Y

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Annake Piper 23/09/2021 - 3:10 PM

How can you track all your sinking funds as only eight goals in the book xxx

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MiddyKitty Kat 23/09/2021 - 3:10 PM

Have you done an hourly/ tipped worker budget? It's so hard to budget when I'm not sure how much its going to be from my tips!!

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vel629vet 23/09/2021 - 3:10 PM

Absolutely love getting to see you and Ryen’s budgets together each month and hear you just chat as friends about them! So helpful and helps me stay inspired to stay on track!

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Valerie Babbe 23/09/2021 - 3:10 PM

Love these vedio it always reconfirm that I'm doing in my budget is correct

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Tru Neilson 23/09/2021 - 3:10 PM

Private party is how I prefer to buy a car, its not a big deal to go to the loan holder and hand them the check they then give the extra to the car owner and give you the title (or your bank if you have a loan). I can pay my mechanic $150 to do a better inspection than the dealer will and I save $2850.

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srikala90 23/09/2021 - 3:10 PM

I like to see both you and Ryen discussing the numbers. It also gives clarity on the process!

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Travollic 23/09/2021 - 3:10 PM

Do this budget planning in Excel Sheet and it will make your recording and tracking so much easier but I do understand Excel might be quite tough for those who never worked with it.

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