Looking for a simple way to budget personal and investment finances

[Scott K.]

What have you found to be a simple but effective way to make a budget for your personal finances when you also have expenses related to your properties?

I often find myself asking questions like "Can I afford this improvement this month?" or "Can I afford to take my family on this trip or buy tickets to this event?"

I want to make sure we have X allocated to categories like:

- RE properties (maintenance, improvements, etc.)

- Personal savings (529, index funds, etc.)

- Monthly fixed personal expenses (utilities, groceries, etc.)

- Fun/non-necessities (tickets for events, dining out, etc.)

Have you found a good system for this? If so, how often do you update your plan? What tools do you use?

[Don Konipol]

Quote from @Scott K.:

What have you found to be a simple but effective way to make a budget for your personal finances when you also have expenses related to your properties?

I often find myself asking questions like "Can I afford this improvement this month?" or "Can I afford to take my family on this trip or buy tickets to this event?"

I want to make sure we have X allocated to categories like:

- RE properties (maintenance, improvements, etc.)

- Personal savings (529, index funds, etc.)

- Monthly fixed personal expenses (utilities, groceries, etc.)

- Fun/non-necessities (tickets for events, dining out, etc.)

Have you found a good system for this? If so, how often do you update your plan? What tools do you use?

Open a seperate bank account for your investment properties.  Seed this account with enough capital to meet any expenses that can not be paid out of cash flow.  Then budget your personal expenses as of the investments didn’t exist.