Setting a budget, question

[Nutria]

I suggest signing up with one of the expense tracking sites (ynab.com, mint.com, etc). Have the site monitor any account from which expenses are paid (CCs, checking accounts, etc).

Just download the transactions into a spreadsheet and do it yourself. Not only don't you spread your passwords everywhere, but the categories are more accurate.

[clatoden99]

First off, you need to do a bunch of research. Identify:

1. All of your reliable income, that's income you know you get every (week/other week/month), no matter what the source. How much do you net, what day is it in your hands?

2. All of your normal unavoidable expenditures. Your monthly bills, mortgage/rent, electric, phone, cable, gas for your car, etc. basically, everything you pay every month. Again, how much do you pay, is that payment stable or variable by month, when is it due?

3. Estimates on your avoidable expenditures. How much have you spent per month recently on things you can control. When do you spend it? How much can you cut it by if necessary?

Once you have all of that, lay out the income through the month, lay out the bills through the month, and verify that you have income to make payments.

Adjust that as necessary to ensure smooth cash flow through the month. If you need to negotiate payment date changes with your creditor, most will accomodate a reasonable request.

[Mikecolin]

I agree with clatoden99, he shared good facts.

[Nutria]

Adjust that as necessary to ensure smooth cash flow through the month. If you need to negotiate payment date changes with your creditor, most will accomodate a reasonable request.

Most companies will let you do that, and nowadays many let you make the modification online.