Having recently been married, we have just set up a new budget and are still in the tracking/adjusting phase. Because of this, we check in quite frequently and try to stay on top of our spending. Once we get things worked out and our payments settle in, we will probably check in every other week or so to make sure we are on track. Great question, and really interesting discussion!
We use a cash envelope system for every paycheck, and we evaluate our category amounts at least every quarter. We tend to cycle through tighter and looser budgets as our needs change.
Thanks for sharing your technique, which is simple to follow but takes a bit more time than other programs.
I agree that running outdoors gives a better and more realistic experience plus I am just not great at treadmill running though I know it works for many people. I wondered for a while why my times were better indoors than outside. Then, one of the Y employees who I happened to see at a 5K told me that the track that I was training on was not precisely one-tenth of a mile as advertised.
I have gotten more into running gear as I have progressed but typically buy what I have a specific need for, not just cool stuff. Glad that the t-shirt and regular shorts works for you.
I check how our spending is going every time I enter a transaction in YNAB. We review our budget at the end of every month and set the budget for the next month.
I like to make a big pot of chili and ask others to bring toppings (shredded cheese, onions and peppers, sour cream, etc.) and "go-withs," such as tortilla chips and salsa or guacamole; maybe rice or pasta. For family gatherings, we have had each family bring a recipe's worth of a dish, such as chili or sloppy joes, and then thrown it all together into one pot.
A relatively inexpensive and popular beverage is spiced apple cider. Pour a gallon or more of apple cider into a kettle on the stove or a crockpot, add whole spices (cinnamon sticks, cloves) and halved or sliced oranges, and heat to steaming. Provide coffee mugs and a ladle and let guests serve themselves.
We bought a 2300 sq ft house on a 5800 sq ft lot and I couldn't be happier. It's the perfect size for our family of three plus two dogs and a cat. I wouldn't change a thing, when we bought it we knew it was a house we could be in for a long time (13 years and counting) and so it has proven.
If we lived in a 1000-1500 sq ft house I'd probably be going crazy at the end of each day - especially with my active toddler to take care of!
I set my goal at four months to prepare, started running in March for a race in July. I started running short distances just to lose weight, improve my breathing and find a comfortable pace. I ran short distances starting at 1.5 miles and working my way up to a 3.4 mile course. I ran outside as often as possible, as I found 3.1 miles on a treadmill is much easier and less effective preparation than 3.1 miles outside. I'll also add that I found clothing and accessories were important. I found I prefer to run without music and with baggy shorts and a plain t-shirt, as opposed to more sophisticated running gear.
I check my budget status at least twice a week, more if I'm in a crazy spending time like Christmas or Thanksgiving.
I evaluate and readjust my budget every month, but try to stay around the same amounts or lower them if possible. Twice a year I really dig deep and try to figure out where I can make bigger cuts that will have the biggest impact. (For instance, our lease is up in 2 mos and moving into a cheaper place is definitely on the list of things that will make a big difference)
I spend less with cash. I was using credit cards on everything a couple of years ago and moved to cash. I pay off the balance every month, but even then i spend more with credit card. Cash is more real to me and it does affect my spending habit.
I check my performance against my budget by category every month, with the credit card as a whole being at least twice a month. I check my budget allocation or sizing of each category once a year, usually within the first week of the year, or after all of the bills from the previous year have come in.
We rewrite our budget once a month, more often if we need to rearrange due to something unexpected. We budget prior to the month, and then do regular monitoring to ensure we are staying on track.
Awesome - can't wait to try it!
The library is a great suggestion. Why buy a book when you can read it for free?
I don't review my budget often enough. It seems as though after I pay my bills, there's nothing left to review!
I evaluate my budget twice a month - on the 1st & 15th
Having recently been married, we have just set up a new budget and are still in the tracking/adjusting phase. Because of this, we check in quite frequently and try to stay on top of our spending. Once we get things worked out and our payments settle in, we will probably check in every other week or so to make sure we are on track. Great question, and really interesting discussion!
I evaluate my budget once every 2-3 months.
We use a cash envelope system for every paycheck, and we evaluate our category amounts at least every quarter. We tend to cycle through tighter and looser budgets as our needs change.
I update our budget yearly when my husband gets a salary adjustment. Sometimes I adjust it mid-year if we have large expenses like medical expenses.
Thanks for sharing your technique, which is simple to follow but takes a bit more time than other programs.
I agree that running outdoors gives a better and more realistic experience plus I am just not great at treadmill running though I know it works for many people. I wondered for a while why my times were better indoors than outside. Then, one of the Y employees who I happened to see at a 5K told me that the track that I was training on was not precisely one-tenth of a mile as advertised.
I have gotten more into running gear as I have progressed but typically buy what I have a specific need for, not just cool stuff. Glad that the t-shirt and regular shorts works for you.
I check how our spending is going every time I enter a transaction in YNAB. We review our budget at the end of every month and set the budget for the next month.
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i eval my budget at least 2x a year. it depends on what comes up. it might be more often when looking at high ticket items.
I like to make a big pot of chili and ask others to bring toppings (shredded cheese, onions and peppers, sour cream, etc.) and "go-withs," such as tortilla chips and salsa or guacamole; maybe rice or pasta. For family gatherings, we have had each family bring a recipe's worth of a dish, such as chili or sloppy joes, and then thrown it all together into one pot.
A relatively inexpensive and popular beverage is spiced apple cider. Pour a gallon or more of apple cider into a kettle on the stove or a crockpot, add whole spices (cinnamon sticks, cloves) and halved or sliced oranges, and heat to steaming. Provide coffee mugs and a ladle and let guests serve themselves.
We bought a 2300 sq ft house on a 5800 sq ft lot and I couldn't be happier. It's the perfect size for our family of three plus two dogs and a cat. I wouldn't change a thing, when we bought it we knew it was a house we could be in for a long time (13 years and counting) and so it has proven.
If we lived in a 1000-1500 sq ft house I'd probably be going crazy at the end of each day - especially with my active toddler to take care of!
I set my goal at four months to prepare, started running in March for a race in July. I started running short distances just to lose weight, improve my breathing and find a comfortable pace. I ran short distances starting at 1.5 miles and working my way up to a 3.4 mile course. I ran outside as often as possible, as I found 3.1 miles on a treadmill is much easier and less effective preparation than 3.1 miles outside. I'll also add that I found clothing and accessories were important. I found I prefer to run without music and with baggy shorts and a plain t-shirt, as opposed to more sophisticated running gear.
I check my budget status at least twice a week, more if I'm in a crazy spending time like Christmas or Thanksgiving.
I evaluate and readjust my budget every month, but try to stay around the same amounts or lower them if possible. Twice a year I really dig deep and try to figure out where I can make bigger cuts that will have the biggest impact. (For instance, our lease is up in 2 mos and moving into a cheaper place is definitely on the list of things that will make a big difference)
I will evaluate our budget monthly and then again at the end of the year making tweaks where necessary.
I spend less with cash. I was using credit cards on everything a couple of years ago and moved to cash. I pay off the balance every month, but even then i spend more with credit card. Cash is more real to me and it does affect my spending habit.
I check my performance against my budget by category every month, with the credit card as a whole being at least twice a month. I check my budget allocation or sizing of each category once a year, usually within the first week of the year, or after all of the bills from the previous year have come in.
We rewrite our budget once a month, more often if we need to rearrange due to something unexpected. We budget prior to the month, and then do regular monitoring to ensure we are staying on track.
I balance the online checkbook once a month when my paycheck comes in. I set up the months bills in ING and let it sit.
We re-balance our family budget every time our financial situation changes or new opportunities arise.
At two levels, because we set our budget monthly and yearly. So evaluation is at the end of each month and each year.
I update and evaluate my budget every time I meet my primary goal. I shift goals, edit budgets accordingly.
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