Do You Have A Budget?

stacyk9 · 05-09-2008, 02:25 PM

DH and I currently don't work on a budget, just kind of pay attention to what's coming in and what's going out and it works pretty good for us. We usually don't buy much and the most we spend our money on is eating out, which lately has become a little too much. We have recently decided we would like to move closer to town, but the houses we like are probably about $30,000 above our price range. Again, nothing fancy, just something a little bigger than we have now and not in the country! The biggest pull for me is to give our DS somewhere he can play basketball or ride a bike because out in the country everything is gravel. Plus, all the people in our neighborhood are either retirement age or the kids are in high school or college. Not so exciting for a 2-year-old!! At any rate, I have decided it's time to go on a budget and save some money for a bigger down payment so we could hopefully buy a house by this time next year. Do any of you have a budget and how does it work? I somewhat know the Dave Ramsey one, but haven't studied it thoroughly. I know he works off of envelopes. Anyway, any information would be great as I really, really want to move!!!

Karina · 05-09-2008, 07:39 PM

We are currently looking at our finances with a financial adviser to make sure our life insurance and pension etc is adequate.

The financial adviser suggested a particular Software that you can buy, that he himself are using to keep track of his money all that he spends even when he buys a bar of chocolate goes in there and he said it is amazing what you spend money on without even realizing it.

I can't remember the name but if you are interested I will ask DH when he comes home.

He just had a meeting with this financial Adviser and they went through some of the things he spend money on. Never gave it a thought that DH buys lunch everyday at work and maybe a cup of coffee at Starbucks. Turns out that we spend nearly �200 a month on that alone. that's nearly $400.
DH now wants me to make him sandwiches to take to work.

auburnchick · 05-09-2008, 07:57 PM

We used to do the envelope system. We had (and still have) all of our bills written down, along with our checks. We list which bills come out of which check, along with other expenses, such as groceries, miscellaneous, fuel, etc.

When we did envelopes, we got cash out for groceries, Walmart (my monthly trip), and gas. We only paid cash for those things.

One of the things on our list was savings, and we tried very hard to stick the amount in there each month.

It is very eye-opening. You see hard numbers when you lay it all out on paper.

evona · 05-09-2008, 08:17 PM

Yes - I have a budget and I go over it and over it constantly, but it is always changing and there is always some emergency to make me broke anyway

Ivy19 · 05-09-2008, 09:51 PM

We don't have a formal budget. And I like the envelope idea. One thing I've recently started doing is carrying cash and no cards, not even my atm. I find I am much more likely to hesitate before making a purchase, and really think it out, if I'm laying out hard money. Plastic is just too easy for me.

Karina · 05-09-2008, 10:02 PM

The computer software my husband was recommended is Microsoft Money. Apparently it is even better if you get the American version. It can be syncronised with your bank accounts etc. There is a 14 day free download trial. So you could try before you buy.

auburnchick · 05-10-2008, 01:10 AM

Originally Posted by Karina

The computer software my husband was recommended is Microsoft Money. Apparently it is even better if you get the American version. It can be syncronised with your bank accounts etc. There is a 14 day free download trial. So you could try before you buy.

There are lots of programs out there. I used to use Quicken.

saracidaltendencies · 05-10-2008, 03:19 AM

Not currently on a budget, no money to budget with...lol...Our checks go to bills and groceries. However, I used to do the envelope system and it worked well for me. Just listed all the utility bills on the front of the envelopes and would take some cash out of each check and split it up among the envelopes. Good luck!

Inis · 05-10-2008, 02:25 PM

I've been unemployed for a year and half, and starting a business with half a shoe string

It's growing very, VERY slowly as I figured out what the heck I'm doing.

So, yeah, we're on the don't-spend-a-freaking-dime-that-isn't-absolutely-necessary budget

Plantgoddess+ · 05-10-2008, 04:20 PM

I think Microsoft Money or Quicken would let you know where your money is going and help you plan monthly expenses. I use Money to keep track of investments for retirement.
Hubby and I figured out what our monthly expenses average and how much was left to save. We picked an amount we felt we could save every month and the rest pays bills and for our entertainment and little luxuries. We have been married 37 years and don't have a mortgage anymore or debt so it is a lot easier.
Early in our marriage we took every increase in income and put it in savings. It saved us every time hubby was laid off work.