Whether you adore or despise budgeting, it is a task that often gets pushed aside because we feel we have more immediate tasks to get done.
If your blog is going to be a business and pay your bills like a job, it needs to be treated like a business.
Another reason it is important to create a budget for your blog is because when you tend to your finances first, your money is likely to go further (which feels like you are making more income!)
Keep reading for the ‘how-to’ steps and a pro tip to take this activity one step further!
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STEP 1 ‣ Decide if you want to use purchased software to monitor your budget or create a form or spreadsheet yourself (for example, using Excel.)
STEP 2 ‣ List all your current and projected expenses.
STEP 3 ‣ As expenses occur, add them to the budgeting software or spreadsheet you created.
STEP 4 ‣ Identify three areas you could lower your expenses to save money.
Questions to ask yourself:
- What platforms are you currently using that could be switched from a monthly plan to an annual plan (which typically saves you money)?
- Are you paying for any platforms or services that you are not using to their full potential and they could be downgraded or cut completely?