Budget 101 - Week 2: Know your numbers 🔢

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:money_bag: Week 2: Know Your Numbers

:green_circle: Goal: Get clear on income & expenses

This week is all about building awareness. When you understand exactly how much money is coming in and where it’s going you can make smarter decisions and feel more in control of your financial life.

1. Track Your Income

Start by listing all the money you bring in each month. That includes:

  • Your main job

  • Side hustles

  • Freelance work

  • Any regular support or benefits

:light_bulb: Tip: If your income varies, use a monthly average from the past 3 months.

2. Understand Your Expenses

Now split your spending into two categories:

  • Fixed Expenses: These stay the same (e.g. rent, subscriptions, insurance).

  • Variable Expenses: These change (e.g. groceries, transportation, dining out, shopping).

This will help you see what you have to pay vs. where you have flexibility.

3. Start Tracking Spending Patterns

Look at how much you typically spend in each category and spot trends. You don’t need to be perfect, this is about building awareness.

:clipboard: This Week’s Tasks:

  • List all sources of monthly income

  • Break down your fixed (e.g. rent, subscriptions) vs. variable (e.g. food, fun) expenses

  • Add up how much you spend on average per category.

  • Spot 1–2 areas where you could cut back or adjust

Missed Week 1? No worries, check it out here! We explored why budgeting matters, how to set meaningful goals, and how to start understanding your spending habits.

:speech_balloon: Looking at your income and expenses, what surprised you the most?
Was there a category you spent more (or less) on than you expected? Let’s talk about it :down_arrow: