Back to Blogs FAQ Search Today's Posts Mark Forums Read

Go Back   Wise Bread Forums > Finance and Frugality Forum > Frugal Living
Frugal Living
Dollar-stretching tips, green/simple living, DIY, budgeting and general home economics.

Reply
 
Thread Tools Display Modes
Old 03-16-2008, 08:52 PM   #1
Member
 
Join Date: Mar 2008
Posts: 55
Thanks: 0
Thanked 0 Times in 0 Posts
Reputation: rainysparadigm is on a distinguished road (12)
Default Budgeting ideas

How do you budget? I read about the envelope system which is pretty cool, except I don't like cash. I dont like fussing with it, and I find I have no less of a problem handing it over than i do swiping a card, so its pointless in my case.

My fiance and I, just starting out (together at least), are working on a system to managing our income. Despite spending large amounts of time on the computer, we simple would never track our spending in software like Quicken (that would be too easy i guess lol). What we have devised so far is a sheet with all the bills, due date, the amount; a sheet with our individual bills (because we are both trying to pay off past debts before marrying/merging); and an all other purchases sheet. we print out a set once a month, and wrote down an allowance for each item such as groceries, fun, household (since we are still setting up house) so as we track we can see where we are at on that budget, and know when we're too close to our limit and that framed art is just gonna stay on the shelf - this month.

Has anyone used a system like this, and have any pointers? Things we may have overlooked. We are *card swipers* and don't intend to change our means of spending, just how much lol

As something to contribute, we went over our monthly spending report from the online bank account and we spent a surprising amount in food. We work really long days, so by the time we are on our way home, its just too tempting to pick up dinner. So we decided that it was about time to get healthy anyway, and started making a conscious effort toward what we are eating. That rules out most restaraunts because sit down diners arent that great for you either when you do the math.

So, not only does it save money there, but we are eating up groceries before going bad which was a double whammy. We just make double batches of dishes when do cook so that we have leftovers to pick at, or we eat big salads for dinner. We also keep a bunch of granola, dried fruits, etc on hand for quick snacking. Not only are we saving a ton, but we're already feel the positive effects of eating better. And actually we don't miss any of it, and we arent saving any real time because it took longer just to decide what to eat, order, eat, pay and leave.

So now we talk about our day while chopping up carrots instead of waiting for the waitress to bring our drinks.
rainysparadigm is offline   Reply With Quote
We share ad revenue with members. Learn more.
 
Old 03-17-2008, 01:22 AM   #2
Junior Member
 
RedZinnia's Avatar
 
Join Date: Jan 2008
Location: north central indiana
Posts: 8
Thanks: 0
Thanked 0 Times in 0 Posts
Reputation: RedZinnia is on a distinguished road (10)
Default

We don't use the envelope system either; we like our debit card just like you do!

About a year ago I started downloading all our transactions into Quicken, and that has been extremely helpful to us. I spent a few hours customizing the categories, so now after a year of tracking, it's a REAL asset for planning expenses. I don't care much for Quicken's budget feature, so I made a simple spreadsheet in word. The top section is for regular monthly bills, the bottom is for variable weekly expenses. The columns divide the month into weeks. So we can see at a glance what our cash flow will be throughout the month.
RedZinnia is offline   Reply With Quote
Old 03-17-2008, 05:08 AM   #3
Member
 
Lynnae's Avatar
 
Join Date: Dec 2007
Posts: 71
Thanks: 0
Thanked 0 Times in 0 Posts
Reputation: Lynnae is on a distinguished road (11)
Default

I've been using You Need a Budget (YNAB) since the beginning of the year, and I love it. It's a desktop application, so you don't have to worry about the security of an online program. You download your bank transactions from your bank and then import them into YNAB. Or you could just enter each transaction manually, I suppose.

What I like is that it shows me at a glance how much I have budgeted for the month, how much I've already spent, and how much I have left.

I've gone the paper and pencil route before, but I find I make too many stupid math mistakes to make it really work. And I'm pretty illiterate with spreadsheets, so that doesn't work for me either.

I've found that making a budget is highly personal. The important thing is to do what works for you and stick with it.
__________________
Lynnae
beingfrugal.net
Lynnae is offline   Reply With Quote
Old 03-17-2008, 06:02 AM   #4
Senior Member
 
Join Date: Jan 2008
Posts: 116
Thanks: 0
Thanked 0 Times in 0 Posts
Reputation: Milehimama is on a distinguished road (13)
Default

I use cash for household and groceries, and incidental spending, but debit card for everything else.

A plus on the debit card - you can't go over your limit!
__________________
www.milehimama.blogspot.com
Milehimama is offline   Reply With Quote
Old 03-17-2008, 07:44 AM   #5
Member
 
Join Date: Mar 2008
Location: Binghamton, NY
Posts: 36
Thanks: 0
Thanked 0 Times in 0 Posts
Reputation: rachael24 is on a distinguished road (10)
Default

Debit cards can have a negative balance tho, which will be bad news if you go over. Another thing that is bad about a debit card is you can use it before all your outstanding checks clear, which can overdraw your account later. I love the debit card, but I am extremely careful using it.
__________________
Recent Finance graduate with a concentration in debt counseling.
rachael24 is offline   Reply With Quote
Old 03-17-2008, 09:52 AM   #6
Member
 
lpkitten's Avatar
 
Join Date: Mar 2008
Posts: 33
Thanks: 0
Thanked 0 Times in 0 Posts
Reputation: lpkitten is on a distinguished road (11)
Default No Budget

Instead of a "budget" I try to use "savings goals." That way instead of breaking it down into categories, I know I have a lump sum I can spend. I pay all of my monthly recurring bills and I put all of the money I want to save into my savings account. Then I'm left with my discretionary money in my checking account and I know exactly how much I can spend for the rest of the month. Of course, towards the end of the month has that number gets smaller you start thinking twice about your purchases!
lpkitten is offline   Reply With Quote
We share ad revenue with members. Learn more.
 
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
How do you find new post ideas? Will Bloggers Corner 35 03-03-2009 06:24 AM
Who handles the budgeting and billpaying in your household? KelR1 Personal Finance 31 03-31-2008 01:41 PM
What Budgeting Tools Do You Use? tomtom Personal Finance 25 03-28-2008 06:01 PM
Reloadable Cards for Budgeting? Desdemona Personal Finance 4 03-16-2008 01:23 PM
Frugal Family Activity Ideas amandajane Frugal Living 21 01-25-2008 05:44 PM


All times are GMT -8. The time now is 08:08 AM.


Finance Blogs - Blog Top Sites
Powered by vBulletin® Version 3.7.3
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.1.0
Ad Management by RedTyger