Like many people, I’m trying to retire before the traditional retirement age. The problem is that it won’t happen if I keep spending money without paying attention to my budget.
Over the last few months, I’ve noticed that I’ve been going over my spending in different categories. Nothing catastrophic, but enough to realize I needed to make a change.
Since July marks the halfway point of the year, I decided to treat it as a fresh start.
Instead of waiting until January, I’m resetting my budget now and making these last six months count.
Affiliate Disclosure: This post contains affiliate links. If you purchase through one of these links, I may earn a small commission at no additional cost to you. I only recommend products I personally use, own, or genuinely believe will add value. Thank you for supporting my content.
Why I’m Resetting My Budget
I like to think of July as a second New Year’s Day.
It’s the perfect time to check in with my financial goals, see what’s working, identify what isn’t, and adjust before another six months go by.
My biggest financial goal is simple:
I want to retire before the traditional retirement age.
That means my daily spending has to reflect that goal.
Every dollar I spend today is a dollar that isn’t working toward my future.
Want to reset your budget too?
I use the same budget spreadsheet every month to plan my spending, track my progress, and give every dollar a job. If you’re ready to get more intentional with your money, you can grab my Budget Spreadsheet.
My July Budget at a Glance
This month I’m budgeting a total income of $8,800.
Here’s how I’m planning to give every dollar a job.
| Category | Budget |
|---|---|
| Income | $8,800.00 |
| Savings & Investing | $3,008.57 |
| Home | $3,915.32 |
| Food | $400.00 |
| Transportation | $300.00 |
| Subscriptions | $1.99 |
| Fun Spending | $461.61 |
| Chiropractor | $212.50 |
| Back-to-School | $500.00 |
This is a zero-based budget, meaning every dollar has already been assigned a purpose before the month even begins.
My Biggest Priority: Saving First
One thing I always try to do is prioritize saving before spending.
Before I focus on shopping, eating out, or anything else, I make sure money is going toward my future.
This month, my savings category includes:
- Retirement contributions
- TSP contributions
- Roth IRA investing
- Brokerage investing
- High-yield savings
For me, building wealth comes before lifestyle spending.
Home Expenses Take Care of Future Me Too
Housing is still my largest monthly expense.
For July, I’ve budgeted $3,915.32 toward my home category.
That covers my mortgage, utilities, insurance, phone bill, and even setting money aside for next month’s mortgage.
Planning ahead helps me avoid feeling behind before the month even starts.
I’m Challenging Myself to Spend Less on Food
Food has quietly become one of my biggest problem areas.
Instead of budgeting $500 like I have been, I’m lowering that number to $400 this month.
The plan is simple:
- Grocery shop only twice
- Use what I already have at home
- Cut back on unnecessary grocery trips
Small changes like this can make a big difference over the course of a year.
Transportation Should Be Lower This Month
School is out, which means I’m spending less time driving all over the place.
Because of that, I’ve lowered my transportation budget to $300.
Sometimes budgeting isn’t about cutting everything back. It’s about adjusting your numbers to match your current season of life.
Yes… I Budget for Fun Too
Here’s something I’ve learned about myself.
I enjoy shopping.
I like sneakers.
I like clothes.
Trying to pretend I won’t spend money on those things just sets me up to fail.
That’s why I’ve given myself $461.61 for fun spending this month.
Having room in the budget means I can enjoy life without feeling guilty or blowing my financial plan.
Back-to-School Is Right Around the Corner
August will be here before we know it, so I’m getting ahead by setting aside $500 for back-to-school shopping.
Planning for expected expenses is one of the easiest ways to avoid relying on credit cards or dipping into savings.
Every Dollar Has a Job
One of my favorite things about zero-based budgeting is that every dollar already knows where it’s going before payday arrives.
That removes a lot of the guesswork.
Instead of wondering where my money disappeared to, I can look at my budget and know exactly what each dollar was meant to do.
Shop My Budget Spreadsheet
Keeping Myself Accountable
Creating a budget is the easy part. Following it is where the real work begins.
July isn’t about being perfect, it’s about being intentional. Every spending decision I make over the next six months should move me closer to the future I’m working toward, not further away from it.
One budget won’t make me wealthy overnight, but consistently sticking to a plan month after month can completely change where I end up.
That’s exactly what I’m committed to doing.
If you’re also resetting your finances this month, I’d love to know what’s one financial goal you’re working toward before the end of the year?
Ready to Create Your Own Budget?
If you’ve been wanting a simple way to organize your money, my Budget Spreadsheet can help.
Inside you’ll find:
- Monthly zero-based budget
- Income tracker
- Expense tracker
- Easy-to-use budget categories
- A simple system to help you stay accountable
Whether your goal is paying off debt, saving more money, or working toward early retirement, having a plan makes all the difference.
