Budget for FIRE
The idea of budgeting for FIRE is to know and understand your own financial situation so you can make financially responsible decisions. When you do your budgeting it doesn’t mean you have to limit yourself on everything, it means you are more conscious of what is coming in and what is going out. It is about making decisions on how much money you spend on “wants” and how much money you put towards pursuing Financial Independence.
Budgeting for FIRE
1. Financial Planner / printable PDF
A written notebook or printables to write down your income, expenses, debt and savings. It is a classic way to track your financials.
2. Excel
Having a template for all the expenses in excel is an easy way to track your financials. You can easily copy and paste repeated expenses, savings or other data and with the formulas it is super easy to see the financials of the end of the month/year.
3. App
With Apps that connect with your bank account it is even easier to track your expenses. The expenses are automatically categorized and overviews can be made within seconds.
