Do you keep a recorded budget?

[Leann]

I've tried. Really, really tried. I just can't seem to do it. I've tried writing it, I've tried the computer. (Heck I came up with an amazing spreadsheet system, but I never kept up with it) I'm just not good at sticking to things. But a few months ago, hubby asked me if I could show him our spending. Uh, look in the check book!!! Poor guy actually thought because I've run offices my whole adult life, I had a good record keeping system for home. I tried again and fell off the cart after a few weeks. I know what we blow money on, and I know exactly what our monthly bills are, and I know roughly what we save/spend on household stuff. But it's just all in my head. I can tell you at any given time, what is due, when it is due, and what the balance is. It's like when I tried to start a price book and just kept failing. I really keep most things like that in my head.
So, how many of you actually have a written budget or system and what is it? How long have you been doing it, and does it change much??

[MrsPinecone]

I don't. I know what our bills should be every month, but that's about it.

I do use MS Money to keep track of everything. I just download the statement from BofA, and assign categories as I balance the statement.

It does great charts and graphs, so I can see what percentage goes where, and if I want to know how much I've spent on gasoline (for example) year to date, I can tell you.

[mrsjschultz]

I've tried as well. Mostly to keep up with what I spend for gas/couponing per week...

Never seems to stick though. I wish I could but then, like you said, I fall behind...

Like MrsP said, I do know what our monthly bills are and that we can easily pay them all and save at the same time.

I'm trying to *make*/*save* $$ couponing but if I can't keep track who knows what I'm really spending?

[Puffalapeno]

Yes, I have a recorded budget and several backup budgets (pay down debt, maximize savings, etc) just because I'm sick and I think budgets are tons of fun to do.

I would go through withdrawal if I didn't have Quicken... I have all of my bills in there with the payments and due dates and it lets me know a week ahead that they're due, although I also have my bills emailed to me so they're usually paid before Quicken needs to let me know. I have "virtual envelopes" set up in Quicken and every payday each one gets it's percentage for that particular bill/debt/allowance. It's worked really well for us since I became a SAHM 2 1/2 years ago.

[beth119]

I can't keep it written down. It's all in my head :)

Seriously though, I can keep track pretty good without it being written. I pay most bills online, and debit everything else, so it is all right there on my statement.

Over the years, we have learned on our own, and from A LOT of advice from Suze Orman about budgeting and savings. I am pretty happy with where we are and how it works.

I know a lot of people swear by Dave Ramsey, and I read some of his stuff, but the whole cash thing really threw me off. I can't keep up with little envelopes everywhere. LOL. I can hardly keep up with my keys.

If you feel comfortable with it all being in your head, and it works, stick with it. Just because it is not written down doesn't mean that it doesn't work. :)

[bhnash]

I started using You Need A Budget (YNAB) last summer and it is fantastic. This is the first time in my adult life, after 15 years of marriage, that (I) we are actually using a budget, and let me tell you, it makes such a HUGE difference! We were always hovering very close to the edge of disaster, bouncing a few checks for a few months last spring got me to get organized. We are now getting out of debt (thanks Dave Ramsey) and can see where everything goes. No more "dissappearing" money. As Dave says "If you don't tell your money where to go, you will wonder where it went." I can't say enough good about both Dave Ramsey and YNAB, I highly recommend them both!!!!!!!

[Princessree]

I'm a new Dave Ramsey fan myself. ( Prev. poster mentioned Dave Ramsey... and I'd like to check out the You Need A Budget thingy very soon, is that a website??THANKS!!)

Anyway, from the way D. Ramsey talks, a budget is a tool that you use at the beginning of each month before the money is in your possession to tell each and every dollar where it's going to go. It's ok to include the money that you blow. If you know you're going to blow a certain amount, make a category called "money to blow" and allocate it.

It's not like the budget is a sacred stone tablet that never changes and you'd just better conform.
The budget changes every month. Every month you sit down and try to control what is going to happen to the money. Then at the end of the month you can see where you maybe didn't estimate certain categories so well, or allocated too much for something unnecessarily.

Learning this little nugget of info (an ever-changing budget is ok..) has completely freed my mind to be willing to try one.

:>)
Hope you find some help from others here.
I think my post sounds confusing. LOL ... can someone say this better???

ETA: I think seeing where I've estimated incorrectly in the previous month's budget can be really eye-opening, making me feel kind of naughty and giving me the feeling that I've broken the law. That can lead to making me want to not budget. So now, instead of feeling all bad about it, I try to figure out what else I can do to save money so I can still live within/below my means and not feel deprived. More rambling... does this make sense?

H

[lyttlemiss]

No i dont keep a budget. I wish i could and i might eventually try again.
I dont even keep a check registry. heck i dont even have a check registry in my checkbook anymore. My mom needed one and i gave her the one i had in there cause it had never been used and the calendar that was in there was 2 years old. lol.

I keep every check/debit that Dh and i both spend right up there with everything else! One of these days when my mind goes to failing my i will probably regret it very much.

I do think i will check out Dave Ramsey and the you need a budget thing and see if it might work for me.

[BudgetQueen]

Considering the fact that the larger part of my business is to help people set-up and keep a budget and assist them in paying their bills, I'd have to say I'm a fan of budgets. I got married when I was 19 (now early 30's) and have had a written budget (in some form or another) the entire time. So here are a few of my opinions:

1) Everyone is different. Some people don't have the aptitude for it, the time for it or the interest in their finances. Because of that, different methods can serve people better. You have to find what works for you and what you can stick with. I know one very organized woman who used to have to watch her budget so carefully that she would print it out and put it in her purse. When she paid for something and updated her check register, she also took out her one-page budget and deducted the amount she had just spent. I used to know a guy who did not have an aptitude for finances AT ALL. Separating the money into separate envelopes as soon as he got paid was the only way he could do it. On the other hand, I had a client once who ran a multi-million dollar budget at her government job. She was extremely good at her job. Meanwhile, she had creditors calling her home. She dealt with finances all day and had no desire to do it at home, too.

2) Budgets are a tool (as stated earlier). They are a planning tool. Really, once set up, they probably take less time then couponing does and can serve to save just as much as couponing (my bias shineth through). Just think of how much time you spend planning your shopping trips, where your groceries, etc. actually make up what percentage of your overall budget......ok, just think about that while I move on.

3.) If nothing else, a budget in black and white (or on screen, however) really does help you know where all of your money goes. I know that several people said that they know where their money goes and they may. I can't tell you, though, how many times I've had people tell me that putting it all down in black and white showed them how wrong their assumptions had been.

4.) It can serve as an easier way of saving. One of the things I do with clients after we set up a budget, is go through line item by line item and ask the hard questions. I make them explain it to me because I don't know their lifestyle so I can't make any assumptions. I tell them I'm not trying to be mean, but I'm going to pick apart every part of their budget. Do you actually need to be spending this money? Take tv (cable, satellite, whatever). Do you need this? Yes, I can't live w/o my tv. Ok. Do you need it at this level? Or, can you give up some of your channels for a lesser bill. Is there another provider who can do the same for cheaper? What about your trash? Do you need to have it picked up or can you take it to the dump for cheaper? Is recycling a cheaper option? What about composting/food recycle/burning, etc? By breaking it down, you can attack it in a very methodical way, focusing on one item at a time. What is so important to understand is that every penny counts. I'm sure I'm preaching to the choir with all you couponers. Simply deciding to save $5-10 a month on your bills really adds up. Many times, we look at something and figure that it's only $5 more dollars a month for this option or that one. In reality, those $5, $10, $15 adds really add up. They can reach $50-$100 before you know it. Can you think of any way you could spend that extra money?

4) If you absolutely decide that a budget is not for you, then you should at least check up on yourself every once in a while. Every few months, track what you have ACTUALLY spent and categorize it. By looking back on actual amounts, you can still make sure that you have an accurate idea in your mind about where the money really is going (you aren't able to fool yourself then).

Okay. I could obviously, continue on and on about this. You just happen to hit on something I'm passionate about. Like I said, everyone is different, you have to find what works for you.

Sorry for the blab.

[bhnash]

If anyone is interested :)

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