Today, I’m going to show you how I save at least $2,050 every month.

In addition to saving $2,050 every month.

I also:

How did I increase my savings by 105% in 1 hour? The Bulk Budgeting Technique (BBT). And in this case study, I’m going to show you exactly how I did it, step-by-step.

The Bulk Budgeting Technique: How I Increased My Savings by 105%

After executing The Bulk Budgeting Technique, I increased my 401(k) contribution to 20%!

Most importantly, I reduced my shopping trips by 50% because I bulk shop and buy enough to last me three months.

And my favorite…I tripled my No Spend Days!

All the zeros you see on my sheet are my no spend days. In March 2022, I had 23 no spend days!

The best part?

You can do the same thing for your budget. You don’t have to earn six figures a year or deprive yourself of your favorite things to significantly increase your savings.

The 3-Steps to Using “The Bulk Budgeting Technique” To Dramatically Increase Your Savings

There are 3 steps to The Bulk Budgeting Technique.

Step 1: Understand Savings Potential

Step 2: Consolidate Budgeting Months & Shopping Trips

Step 3: Track Your Progress Daily

Here’s why this technique works so well.

You prioritize saving right from the beginning.

You don’t save what remains. You spend what remains after saving.

You focus on bulk spending which means you buy enough to last you a few months rather than a few days or weeks.

The Bulk Budgeting technique is not limiting; it’s freeing.

Step #1: Understand Savings Potential

The first step in The Bulk Budgeting Technique is to understand your saving potential.

What does that mean?

It means you take the time to understand how much you can save each month.

It’s great to say you want to save $1,000 each month but what if you can’t?

The foundation of any successful budget is setting realistic expectations.

That being said, most people underestimate how much they can save.

It’s not until they crunch some numbers that they see the true potential.

To understand your saving potential, follow the seven money management steps.

Here’s a short video that explains each step.

1. CONFIRM MONTHLY INCOMEThe first step is to confirm how much you make each month.
   
   If your income varies from month to month, your task is to understand the minimum amount you earn each month.
   
   If you get paid a few times a month, list each paycheck amount and sum the total.
   
   2. SET ASIDE MONEY FOR FIXED EXPENSESThe second step is understanding how much you have to spend on bills each month.
   
   Fixed expenses are the bills you have to pay each month.
   
   They include your rent or mortgage, utilities, car insurance, gas or public transportation, cell phone, etc.
   
   Make a list of your fixed expenses, and sum the total.
   
   3. SET ASIDE MONEY FOR DEBT The third step is understanding how much you have to spend on consumer debt each month.
   
   Consumer debt includes student, car, and credit card debt.
   
   This is the perfect opportunity to zero in on your debt and understand your total payment.
   
   Make a list of your debt expenses, and sum the total.
   
   4. CONFIRM FIXED PLUS DEBT EXPENSES TOTAL The fourth step is simply adding your fixed and debt expenses.
   
   I call these mandatory expenses because they are the bills you have to pay each month.
   
   At this point, you understand the total dollar amount that you have to spend each month.
   
   Your mandatory expenses total is a very important number to understand. Whether good or bad. If you are spending more than you want, at least you are aware of that now!
   
   5. SET ASIDE MONEY FOR SAVINGS The fifth step is where you get the opportunity to prioritize your savings!
   
   Remember, it is not about saving what remains after spending.
   
   It’s about spending what remains after saving.
   
   First, confirm your remaining income (=Income – Mandatory Expenses) after setting aside money for mandatory expenses.
   
   Next, choose the amount you want to save.
   
   Lastly, the remainder (=Income – Mandatory Expenses – Savings) is what you will spend on variable expenses.
   
   How do you know what remains is enough for your variable expenses?
   
   You won’t know exactly but you can do your best to make it work.
   
   What remains is spent on categories that are under your control.
   
   You get to choose how much you spend on groceries, eating out, clothes, streaming and subscription services, accessories, etc.
   
   If you’re at a point in your life where not a lot remains after setting aside money for mandatory expenses, please know that understanding that is the first step to choosing to change it.
   
   Understanding my savings potential is what helped me increase my savings by 105% in 1 hour.
   
   Before, I was saving $1,000 a month. Now, I save $2,050 every month.
   
   It’s that simple step of understanding your savings potential and then choosing how much you want to save before you spend on anything else that’s life-changing.
   
   Most people don’t see saving that way but they should.
   
   6. CONFIRM VARIABLE EXPENSES BUDGET The sixth step is confirming your variable expenses budget (=Income – Mandatory Expenses – Savings).
   
   The total is your monthly budget moving forward!
   
   Your monthly budget will be spent on: The list above does not represent categories.
   
   It’s a list of expenses that are paid with your variable budget.
   
   7. CHOOSE CATEGORIES AND ASSIGN A BUDGET
   
   The seventh and final step is to choose your variable categories and assign each a budget.
   
   Do your best to simplify your categories.
   
   There’s no right or wrong number of categories but there’s a high probability you don’t need 10.
   
   Start with the essentials such as groceries, household, personal, and fun.
   
   Yes, everyone should have a fun category!
   
   Make a list of your variable categories, and sum the total. The total should equal your monthly budget.
   
   I encourage you to save for future expenses in the form of sinking funds.
   
   If you do, a sinking fund becomes one of your categories.
   
   A sinking fund (or savings fund) is a future expense that you save for each month. You typically put aside a little each month until you’ve achieved your goal.
   
   Common sinking funds include Christmas, Vacation, Back to School, etc.
   
   After successfully prioritizing your savings and understanding your monthly budget moving forward, it’s time to learn how to stick to both goals. Here is a recap of all seven money management steps using my real numbers:

The Bulk Budgeting Technique Summary

I hope you feel motivated and look forward to implementing The Bulk Budgeting Technique in your money management routine!

I hope you feel motiYou only have to follow three steps to start implementing this technique: vated and look forward to implementing The Bulk Budgeting Technique in your money management routine!

Step 1: Understand Savings Potential

Step 2: Consolidate Budgeting Months & Shopping Trips

Step 3: Track Your Progress Daily