The first step to the A-Train Financial Automation System is Estimate. Yeah estimating can be difficult the first time you do it. But then again so is riding a bike and look at you now, training wheels off and everything! What I would like you to do is to make educated guesses about how much money you earn and spend on different things every month. I would recommend breaking it down into groups similar to the following:
- Income
- Rent/Morgage
- Utilities
- Phone (Cell/Land line)
- Transport (Gas, Car Payment, Insurance)
- Groceries
- Out Meals
- Personal
- Debt Payments (If you have them)
These are the categories that I use which you may change them any way you wish. If you have Microsoft Excel or OpenOffice, I have created a template for you to use based on my personal financial model. You may
download it here. Start off by entering your estimated after tax income for the month and work your way to the right until you've entered all of your information. I find that the easiest way to do this is either keeping your receipts or by using a single credit card. At the end of the day sit down and enter the information. I swear it takes
maybe 2 minutes. Come home, kick off your shoes, and before you have your daily vodka & tonic mixed you'll be done. That's all for todays post. Make sure to subscribe to RSS or E-mail feeds to stay up to date with our progress! Remember, I love this stuff. If you have a question about how it works or something I didn't describe quite well enough leave a comment! I'll e-mail you back with an answer.
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