Personal Budget, A Matter of Style
I have been recording my expenses and financial commitments *almost* daily for 7 years. This personal budget is not for everyone, it requires a love for detail or the need to get your finances in order, I think outside of these two groups few people are going to have fun with the file. Are you ready for the challenge and take control of your finances?
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I've been recording my expenses and financial commitments almost daily for 7 years 💸
I started working in 2016, receiving funds in my savings accounts in 2011, however, it wasn't until 2017 that I decided to start detailing my income and expenses, and since then I have been modifying the format and information I record in my personal budget every year.
It's not a methodology for everyone, it requires a love for detail or the need to put your finances in order, I think that outside of these two groups, few people would have fun with the file that I have been adapting with my style and feedback from colleagues with whom I have shared the file in the past.
I decided to polish it up a bit to share it with anyone who might find it useful. It is focused on paying taxes in Colombia (Social Security) which has different percentages if you are employed or if you are an independent contractor (1), although it is best that you do not leave this sensitive information to this tool but rather corroborate it very well with your payment platform (2) or employer.
One of the characteristics that I recently incorporated was to organize very well the three types of money bags that I organize each month in my accounts. I read this strategy in the book “Financial Feminist” by Tori Dunlap, creator of HerFirst100K, a financial expert focused on strengthening the mentality of women regarding investment and financial organization focused on our style.
The first, your basic needs, because if tomorrow you lose your job you still have to eat, transport yourself, pay for public services and feed your pet. These needs change according to the responsibilities that each person has.
The second, are financial objectives, the debts you have, the investments you have, the savings you plan, etc.
The third, I called it Pamper Yourself, because it is the area where we will manage the money that changes from month to month and that includes categories such as personal care and emotional well-being, family and friends events, going out to eat, etc. Tori recommends that you evaluate your values associated with expenses, in my case, I love to eat out, travel and learn, so each month there is a fixed expense associated with this bag of desires that can vary each month and will not influence whether I eat well, meet my obligations on time or run out of water and electricity to live in my home.
In Colombia, influencers such as MindfulFinanceInc (3) and MisPropiasFinanzas (4), in Mexico influencers such as Sofía Macías from Pequeño Cerdo Capitalista (5) and learning platforms such as Platzi and Masterclass, all have excellent recommendations and points of view to strengthen your relationship with money starting with the personal budget and daily finances. Go ahead and learn.
Now, in my budget version, you will find the opportunity to record your daily, weekly or monthly expenses (you choose the frequency that works for you), the different categories of expenses and investments and even a template to keep track of finances with your partner.
Download it by clicking on the "Budget 2025" button
Let us know if you find any errors or have any suggestions here.
For more details on what you just read:
(1) Seguridad social en Colombia - Actualícese (actualicese.com)
(2) Enlace Operativo - Descubre soluciones eficientes con SUAPORTE y cómo pagar PILA