BUDGET!
LOL!
Not sure why this scares me so bad..but it does. I think maybe because we haven't really had to and we didn't really pay attention to how much money we were spending...so I feel like if we do have to do that then we aren't doing very well financially or something. But really thats not the case...always.
This month we seemed especially broke and I couldn't really figure out why. Well today I decided to do some investigating and broke down all our income and spending for a month! WOW! That's basically all I can say about that! I cannot believe how much we are spending in some areas (like eating out)! I even think we spend too much at places like Walmart! I know with all the coupons I have stocked up I could be at least saving some more money on groceries, toiletries, etc.
So I've decided we need to do a budget. We will be needing a new, bigger car soon and we really need to start saving for that. And even besides all that we just really need to know exactly where our money is going. I am totally clueless to how to budget, which also scares me, but I am willing and ready to learn!
So my question for you is, do you budget? If so how? Do you have a strict system you stick to? Any good resources for me to check out to learn how? Comment below or feel free to shoot me an email for any tips or advice you may have! Thanks!
We do one monthly before the paychecks roll in. They are always a set amount every other Friday. So I dot down figure out it all & email or tell it to Hubs. I find it really helps us save & to know exactly what we have. I used to think budgeting was for people who didn't have that much money & were penny pinching. Really it's for those who are taking a stand and control over thee financial life.
ReplyDeleteYay for making the first step!!
PS- eating out gets us in trouble too haha
no budget for us but I would love to hear what others do. we really need to set one!
ReplyDeleteNo budget for us...but my husband is an accountant so he knows where every penny is at all times. I ask him before I buy things outside of groceries since I never know what he has going on with the money. It's frustrating at times, but whatever he does works, so I can't really complain...too loudly LOL
ReplyDeleteI have a separate account at ING (my regular account is at my credit union) I transfer a set amount to each week for spending. It covers gas, groceries, eating out, etc. That is the only debit card I carry and therefore my only spending money:) It has worked well for me.
ReplyDeleteWe do budget...should have started way earlier in our marriage. BUt nobody ever really taught us how to do it. We already go over the budget with our kids...we don't want them to ever have money issues. We have had issues in the past and dug our way out via strict budgeting. And now we owe a 13 year mortgage...and that's it. We budget to the penny...every single month. Sometimes it really sucks...but it works, and it's really nice to know that we have Christmas money, back-to-school money, vacation money, extra-curricular money, etc. It was a drag to get used to...but very smart!
ReplyDeleteWe do a pretty strict budget since I quit my job to stay home. To create it, we tracked our expenses and income for several months to see what we were spending and where we could trim (hello, eating out!). I put our budget into www.mint.com to track how we are doing. Love mint!!! I also used it to track our expenses when we were making the budget. It was recommended by Clark Howard, who I trust.
ReplyDeleteWe have been attempt to stay on a budget for a while now. My husband and I are is a bit of a disagreement about just how much that budget should be. My weakness is also Walmart. I always end up finding too many things I never knew I needed until I saw them:) Now following from the blog hop. Glad I found you! Janae
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