Getting divorced and starting over - I need budget help!

[Mictjustin]

You can also get a free paper budget form on Dave Ramsey's website. Works wonders for me. There a lot of things that are already listed on the form that I never remembered. There is no need for all that computer stuff to figure out a budget. My theory, old people have money, most of them. I try to do what they did when they were my age. Cash, no debt, no movies, no McDonald's.

Also, mint.com is nice, if you use your card for everything since it syncs with your bank account. But, it has been proven that you spend 12-18% more when using a card rather than cash. When a person spends cash, it actually registers in your brain the same way pain does, and therefore you will spend less.

I'm no financial advisor, just a kid who's trying to get his crap together like everyone else.

Thanks.

[YLTL_Dan]

Originally Posted by Mictjustin

Also, mint.com is nice, if you use your card for everything since it syncs with your bank account. But, it has been proven that you spend 12-18% more when using a card rather than cash. When a person spends cash, it actually registers in your brain the same way pain does, and therefore you will spend less.

Thanks.

I totally agree, using a cash budget is the best way to take control of your money. I tried using Mint, but i felt like it tells the history of your spending but doesn't allow you to control it. I started with the Dave Ramsey plan and then created my own:

Follow these steps to Nurture your Money Tree:

1. Complete a current assessment
2. Track your spending
3. Create a spending plan
4. Monitor plan and adjust as necessary
5. Save some money
6. Attack your debt
7. What's next?

You can find explanations to follow the plan along with free Excel tools on my website - YourLifeTheirLife - I can't add (.com) because I'm new!

[LivingAlmostLarge]

Depends on how you use credit cards. I don't spend more because of CC. I just spend the same, it's I have x amount and that's it. I keep a semi budget like DS, I have savings automated and spend the rest, but I do track it. If it goes over no biggie, but i keep it to $x/month period. How it's cut up doesn't matter. That and I already set aside know categories.

[SNRote]

I am sorry you are going through this tough time. Divorce is very stressful and figuring out the finances doesn't make it easier. My sister and BIL are divorcing as well. She is moving this weekend. The movers have been boxing up her house this week and it's been hard for her. Have you kept any money separate? My sister had some money set aside to at least keep her going for a few months.

[neatdesign]

Well, I took the plunge and got YNAB. It turned out better than expected because I was able to have them send me my original license key from when I bought YNAB Pro several years ago, and when I went to redownload the software to my laptop, I got the option of upgrading it to the current YNAB 3 version for $20 off. Score!

I just finished one of their free live webinars going over the basics of the program and am about to attend a second one in a few minutes about setting up the budget for the first time. I'm excited!

I also finally got my husband to get off his arse and open his own checking account. It took me threatening to draw the line and let him take care of his own bills for him to finally take action. (Of course, he's going to have to do that eventually anyway, so...) My short-term goal right now is to separate the majority of our finances into our individual accounts, leaving just enough in the joint checking account to pay for our joint bills (most of which have auto-payments set up). I'll figure out those auto-payments later.

Originally Posted by SNRote

I am sorry you are going through this tough time. Divorce is very stressful and figuring out the finances doesn't make it easier. My sister and BIL are divorcing as well. She is moving this weekend. The movers have been boxing up her house this week and it's been hard for her. Have you kept any money separate? My sister had some money set aside to at least keep her going for a few months.

Thanks, I really appreciate your thoughtfulness. In many ways it still hasn't hit me that my marriage is ending because we still live together and probably will until our lease is up in March. That's what he wants to do, because he can't afford to move any earlier than that. I do have some money set aside and my parents have offered to give me an interest-free loan to help me get off on the right foot. (They won't give me any money until I'm no longer living with him and have a separation agreement in place, though; they don't want him to claim any of the money for himself.)

Being proactive about my budget is helping me stay focused and positive. I've started couponing and that also motivates me to save and stay within my means. So, one day at a time...

~ Jenney

[KennySoward]

Originally Posted by neatdesign

While I envy all of you who don't feel the need to track your spending, and I hope I am comfortable enough to be in your shoes one day, I won't be in them for a long time. I'm about to lose 37% of my household income, and so I definitely need a budget, I need to track every penny, and I need to learn to live within my (new) means.

Absolutely! Each person is different. I'm the same as you. When I was in debt and started my serious budgeting, I did it every day. Now that I have a handle on things (many years later) I don't look at the budget so much. But...it is still the fulcrum of my success and I will always make it a priority.

[SNRote]

neatdesign, You are a much nicer person than me. Obviously I don't know the circumstances but I am not sure that I could remain living with my ex. Let alone would I be nice enough to handle his bills for him. Like I said, my sister's movers came Saturday and got her out of there. I wish I could have been there to support her. It sounds like you are making the right decisions for yourself so keep it up!