Am I the only one who budgets like this

[disneysteve]

With a few exceptions, I don't even "pay bills" any more. Everything is paid automatically.

Same here. The only monthly bills I actually pay are the credit card bills. Everything else is either billed to the credit cards or automatically drawn from our checking account.

[cicy33]

Same here. The only monthly bills I actually pay are the credit card bills. Everything else is either billed to the credit cards or automatically drawn from our checking account.

Now, see this way for me would not work at all. Since sometimes our pay is varied by days I don't like money being withdrawn automatically from my checking account. I keep a budget in Excel. I could be more organized and keep a monthly detailed (am still considering that!) but for now, I just see what is going out what is coming in and where we are at. We were doing really well until the last light bill. this is a perfect example of not liking auto paying/billing. My light bill literally doubled in one month and we were already turning the heat down to 66 at night and watching lights. But I was very unprepared for it but when it happened I was still able to handle it because I go online to pay it. If it had been an auto draw and I didn't have that much on that day in there I would have been screwed. and i am talking about a 150 bill jumping to $300. We aren't the type to have a everflowing money supply so we are the type that has to watch every penny and be sure we are not getting behind. Fortunately we don't have any credit cards, car payemnts and the house is paid off.

[disneysteve]

Now, see this way for me would not work at all.

If it had been an auto draw and I didn't have that much on that day in there I would have been screwed. and i am talking about a 150 bill jumping to $300.

Exactly what I was saying. Folks with a tighter budget need to watch things much more closely for obvious reasons. We are fortunate to be able to keep an adequate balance in our account so an extra couple hundred dollars on a bill wouldn't affect anything.

The reason I don't auto-pay the credit card bills is because those bills are more substantial, typically $3,000+/month and we don't keep that much extra in the account. I need to see that bill before paying it and occasionally need to hold it until payday or even transfer money into the account if we made a particularly large charge, like if we were on vacation that month.

[AmySL]

I just give up when it comes to financial management.

[snafu]

AmySL: Welcome. Please don't 'give up' on financial management. I agree it feels difficult at 1st but so does anything worth doing. When you finally get control of the money instead of the money controlling you...it's a huge EUREKA relief.

If you're willing to post your money issues, I'm sure you'll get several suggestions to choose from since we all have different money mindsets.

[Seeker]

Exactly what I was saying. Folks with a tighter budget need to watch things much more closely for obvious reasons. We are fortunate to be able to keep an adequate balance in our account so an extra couple hundred dollars on a bill wouldn't affect anything.

The reason I don't auto-pay the credit card bills is because those bills are more substantial, typically $3,000+/month and we don't keep that much extra in the account. I need to see that bill before paying it and occasionally need to hold it until payday or even transfer money into the account if we made a particularly large charge, like if we were on vacation that month.

Pretty sure that irmanator doesn't really need to watch his/her budget that closely either.

I wish my online bank had a "Sort by last date paid" too, but not all of them do. But as I informed DH, the best method I've found to keep on top of what needs to be paid, is to open each account on the Bill Pay listing and check that date. If it wasn't paid within the last month, then he needs to find that bill, look the account up on the Internet, or call them to find out what is owed.

But as far as is irmanator the only one... no. This method is good for seeing what's coming up, and what is missing. It works for me, but I agree that it's not a budget per se.

It does have the advantage of showing rising costs though.... which does indeed mean going back to the budget and maybe revising it or at least finding out why that catagory is growing.

[MrPolarZero]

that's correct! Controlling your monthly expenses is a sure way to cut-down and limit your costs

[snafu]

Since I developed a budget [spending plan] that shows me how much I spent in specific categories last year I have a better idea of what to pay this year. I already see that inflation is attacking my buying power. It helps me avoid being ripped off and being stupid about spending. I do a better job of buying on sale for example and staying on track with long term goals.