Instruction manual for Richard But

1. BUDGET CREATION TOOL
Volume 1
Instruction Manual
© Richard Butler 2012
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2. Legal Notice
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3. About the author
Richard Butler is a trained life and business coach and a qualified
practitioner of Neuro Linguistic Programming. Originally from Dublin,
Ireland he had the opportunity to move to Barcelona in Catalonia
Spain.
Richard currently works as a trainer for a leading recruitment
company but also provides coaching for private candidates.
His expertise as a trainer and coach has led him to have international
clients and he has spoken at conferences both in Ireland, England
and the USA.
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4. The Software
Your coaching power pack comes with two software titles – The
Budget Creator and the Life Vision Creator. The Budget Creator is
explained below:
Launching the Budget Creator software
When you first launch the software you will be asked to enter in your
name. Make sure you enter in your full name.
Next you are asked to enter in the currency symbol that they are
using, for example pound, or euro.
Fixed Income
The next question deals with the fixed income you earn each month.
It is important to realise this is the guaranteed income you will
receive every month. If you are a sales person and earn a commission
we need to enter their base income here. This is what you will always
get each and every month and is expressed as monthly value rather
than weekly (if you get paid weekly then you must multiply the figure
by 4)
Other income
Next comes the other income section. What other income do you
bring in? This could be commissions, extra work you do etc. Again
express this as a monthly figure. You may think you have no extra
income but perhaps you get paid $40 a week to chair a meeting at a
local club. Remember everything counts.
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5. Fixed expenditure
The subsequent questions talk about your fixed outgoings. This is the
money you have going out of your account every month. For example
rent, electricity, loans you must pay off. This is not outgoings like
eating out; topping up your mobile phone (if you have a mobile
phone contract that is a fixed expenditure you pay every moth).
Food is the next fixed expenditure. Although you can vary the amount
you spend we know for sure you need food. This food should only
include your grocery shopping.
Having included the amount of food you eat, you must look at the
amount you spend on electricity and then on gas and water. If you
don’t spend anything on gas, for example you can enter a zero.
Remember every figure is a monthly rather a weekly figure
Next you will need to total up the amount you spend on credit card
repayments you need to enter in the total of all credit cards.
Most of us have a loan or two, so again you should total up all of the
loans you have and then enter the final amount per month should be
entered here.
Any other fixed expenses you have should be entered in. For example
what about insurance policies, medical expenses etc. This total
includes anything that you spend money on each and every month.
Non essential expenses
The next section starts to deal with is non essential expenses, these
expense are expense that could be cut if necessary. You don’t need
to spend this money. This will be an important part of your post
budget considerations.
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6. First up you have is clothes expenses. Not always necessary to spend
lots on it but on average how much would you spend a month. If you
don’t know think about in a year, and then divide by two!
The next two questions talk about weekly coffee and lunch expenses.
These are your take out coffees, snacks, lunches etc. There’s
probably one day a week or month that you have lunch out, this
might be for example a sandwich from the local deli.
After this we have going out expenses. Here you should include any
expense they incur on average over the week or weekend, specifically
eating out in the evening, going out for a drink at the weekend etc. I
would include the following, although your list might be longer:
• Dinners during the week
• Entry into clubs or concerts or show
• Dinners or lunches at the weekend
• Cinema tickets
You should total these up and get an average of how much you spend
per month.
The next question is an open question where you can list out any
other non essential expenses you may have. This is anything that you
don’t need, it is not essential. Again think long and hard about this.
You will be amazed at the aha moments you will have.
This is the final question and after this your income and expenditure
document will be created. It may be a shock but this is good as it
will make you think.
From the document you can clearly see how much money you are
making and how much you are spending.
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7. Now you can/must decide where you can make savings.
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