I remember the first time I sat down to track my spending—it felt overwhelming, and honestly, I wasn’t even sure where to start. But the truth is, you don’t need to be a financial guru to take control of your money. With a few simple steps, you can create a plan that aligns with your goals, provides security, and still allows you to enjoy life.
In this guide, we’ll start with the basics: understanding where your money is going, identifying wasteful spending, and structuring an intentional plan that works for you.
Step 1: Start with Ease – Track Your Monthly Cash Flow (Without Stress!)
Check out the Smart Money Series part 1 for more on Step 1!
Before making any changes, the first step is awareness. Instead of jumping straight into budgeting, let’s take a simple, judgment-free approach: track your cash flow for one month.
How to do it:
- Choose a method that feels comfortable—this could be a notebook, a spreadsheet, or a simple app like Rocket Money or YNAB.
- Record all your income and expenses. Don’t worry about cutting back just yet; simply track where your money is going.
- Review your results at the end of the month to see patterns in your spending.
Think of this like checking your weight before starting a fitness plan—it’s just data, no judgment! You can’t improve what you don’t understand, and tracking is the first step to making empowered financial decisions.
💡 Struggling to find a budgeting system that works for you? I’ve tested dozens of apps, but I always come back to my simple, flexible Excel budgeting workbook—because it lets me see exactly how my spending today affects my future. Grab it inside the Solo Money Shop and start taking control of your finances today!)
Step 2: Identify Money Leaks – Where’s Your Money Really Going?
Check out the Smart Money Series part 2 for more on Step 2!
Once you’ve tracked your spending, take a look at where your money is going. The goal here is to find expenses that don’t align with your priorities or bring you real value.
Common money leaks for women managing a household solo:
- Subscription services you no longer use (streaming, gym memberships, apps—you know, the ones that auto-renew and you forget about until they charge your card again!).
- Impulse purchases (home decor, clothing, takeout meals that weren’t planned—hey, we’ve all been there!).
- Interest charges from credit cards or loans you haven’t focused on paying down.
- Unused memberships or programs you signed up for but don’t fully utilize.
Quick Fix:
Highlight any expenses that feel unnecessary or could be adjusted. Even a $20/month subscription you forgot about is $240 a year back in your pocket—enough for a weekend getaway or a boost to your emergency fund!
Step 3: Create an Intentional Spending Plan (Not a Restrictive Budget)
Check out the Smart Money Series part 3 for more on Step 3!
Now that you know where your money is going, let’s create a plan that supports your financial security and personal fulfillment.
The Three-Part Intentional Spending Plan:
- Needs/Essentials – Mortgage/rent, utilities, groceries, insurance, transportation.
- Wants/Joyful Living – Travel, dining out, hobbies, experiences that bring you happiness.
- Future/Security – Retirement savings, emergency fund, debt repayment, investments.
Instead of thinking about budgeting as a restrictive tool, view it as a way to align your spending with your values. The goal isn’t to cut out everything fun—it’s to make sure your money is working for you, not against you.
Solo Money Starter Kit Companion File
the Google Sheet file that expands on the FREE Solo Money Starter Kit pdf
Step 4: Stay Flexible – Make Budgeting Feel Empowering
The best financial plans are flexible. Life happens—unexpected expenses, job changes, family needs—so your plan should adjust with you.
Ways to Keep Your Budget Flexible:
- Use the 80/20 rule: 80% of your income goes to essentials and savings, 20% is for flexible spending.
- Set up an “Oops!” fund for small, unexpected expenses so they don’t derail your progress.
- Check in weekly or bi-weekly instead of micromanaging every dollar.
A budget that feels suffocating won’t work. Instead, aim for a structure that gives you control while allowing room for spontaneity.
Step 5: Take Your First Simple Step Today
If this process feels overwhelming, start small. Here’s your first action step:
👉 For the next 7 days, track every dollar you spend—no judgments, just awareness. At the end of the week, review your spending and look for one small change you can make.
That’s it. Just one simple action. Small, consistent steps lead to big financial changes over time.
Free Downloadable Resources
I know getting started can feel overwhelming, so I’ve put together a set of free tools to make it easier. These worksheets and guides will help you track your money, identify spending patterns, and start budgeting with confidence!
✅ Simple Expense Tracker Template – Easy-to-use worksheet to track your spending for the first month.
✅ Intentional Spending Plan Guide – Step-by-step worksheet to structure your budget in a way that aligns with your values.
✅ Subscription & Expense Audit Checklist – Helps you identify money leaks and eliminate unnecessary expenses.
✅ Financial Clarity Journal Prompts – Thought-provoking questions to help you redefine your money mindset and goals.
Ready to take control of your finances?
📩 Sign Up Now & Start Taking Control of Your Money! Get Your Free Solo Money Starter Kit!
Final Thoughts
You don’t need to have it all figured out today, and you don’t need a strict budget to be financially secure. The key is to start small, build awareness, and create a plan that supports both your future and your happiness.
Managing money solo doesn’t mean doing it alone. I’ve been where you are, and I know the small steps that lead to big financial wins. Grab your free Starter Kit, start tracking your spending today, and let’s take control of your money—together!
💬 Have any questions or insights about money management? Share them in the comments below—I’d love to hear from you!
