Budgets!

[randomthoughts1875]

I'd love some feedback on building a useable budget. I've researched and researched and there are so many different types. There's the envelope method and budgeting by percentages and well, I guess the list could go on and on. What works for you?

[Melizzy]

How much do I have coming in and how much do I have going out (this includes groceries, which as a single person I limit to roughly $25 a week, if that much). What is left over? Of that amount, take 10% and put it into savings of some sort. With what is left over from that, what are my frivilous expenditures? Movies, shopping, etc?

skip the percentages, graphs, pis charts, all of that. Take a practical look. You might even want to keep a daily diary of expenditures for a month to see where your money goes aside from the debts you must pay. That will tell you a lot.

[Calypso]

Good idea, Melizzy. Like Randomthoughts, I sometimes get overwhelmed looking at all the bells and whistles and forget that it's just as basic as you said: what comes in as compared to what goes out. Even a math klutz like me can manage that one

[randomthoughts1875]

Thanks for bringing it back to the simple! I've been trying to change my motto to KISS (Keep it simple stupid!). There's such an overabundance of info available it's easy to get overwhelmed! Any tips and tricks for cutting back on the extras?

[mamab]

Simple is usually best. I try to keep a list of what I need to pay on an excel file, then figure out which paycheck I should use to pay which bills. Sometimes things are tight, but they get paid.

[deanac24]

I try to keep things simple. I make a list of all the bills that need to be paid for the month. I also list what date they are due. Hubby gets paid 2x a month so I pay half with one paycheck and half with the other.

[moonmagick]

I keep it simple. Basically like Melizzy said. I look at what I have coming in, and what has to go out. And break it down accordingly, figuring in expenses like groceries, dry cleaning, and gas for the car. Then I take whatever is left and put at least part of it in savings and the rest goes in a seperate account for "fun" money.