POLL: Are you on a written budget?

[jmjj215]

Re: POLL: Are you on a written budget?

Wow, I had no idea about that fine. Thanks for the info guys. Amazing.

[momma4]

Re: POLL: Are you on a written budget?

i guess you could consider mine a written budget. I sit down on the first of the month and make sure all the bills are marked on my calendar. Then I average my dh's base pay as if he would only make 40 hrs. then I figure out which bills can be paid when and what we have left for food and extras. when my dh makes over 40 hrs it is a bonus which helps us during our weak weeks.

[baselle]

Re: POLL: Are you on a written budget?

Thanks guys.
I heard about the fee bit with money market funds when I did things via a brokerage. I didn't realize that this could happen with a plain o' savings account.

I have to think about this scheme a little bit more, study my spending patterns, particularly at the end of a paycheck - I like my little $100 cushion. But there's nothing stopping me from sweeping leftovers into savings when I get my fresh paycheck.

[tamip]

Re: POLL: Are you on a written budget?

Oh, I love my "cush" too!! If I can manage to keep it until the next paycheck, then I put it towards debt.

Tami

[gakline]

Re: POLL: Are you on a written budget?

The savings thing is only for withdrawls. Deposits are unlimited.

[jmjj215]

Re: POLL: Are you on a written budget?

My budget is actually built around the principle that I spend last month's paycheck. So what I made in January, I budget and spend/save in February, and so on. This removes the income variability problem with budgeting, gives me a nice cushion, and is extremely easy. The hard part for people is getting that one month's worth expenses saved before they begin the system.

Heh, actually that first rule is the foundation for the budgeting system I actually sell. And people still seem to buy it - even when it requires a month's worth of savings! I was pretty surprised at first - was afraid that would be a big turn off for people.

Does anyone else do something like this?

[robex]

Re: POLL: Are you on a written budget?

We do a monthly budget at the beginning of the month. Our mortgage is always paid one month ahead. Any money left over at the end of the month goes into our savings account that we are trying to build up to a $5000 cushion.

[ecarsonjr]

Re: POLL: Are you on a written budget?

I actuallly purchased Jesses's system, and am still in the saving the one month's salary stage. The problem I alwyas had with budgeting was how to decide what to spend wheny typically you hadn't earned anyting for the month i.e. you were already at #0. But with Jesse's system, I finally found the answer, to save the month's salaary in advance so you are always spending last month's money. It's so amazingly simple that I can't belive I couldn't figure that our for myself. But better to learn from someone else than never to learn.

Eddie

[meaghanchan]

Re: POLL: Are you on a written budget?

I'm not on a written budget, I just track my expenses. I find that when I am on a written budget I actually spend more. Say I've budgeted $100 for eating out, and it's near the end of the month and I've spent $65. I'll usually just say, "great! I don't have to brownbag all next week!" rather than "great! $35 more for the savings account!". My spending is very irregular month-to-month, too. I don't buy a lot of clothes, but when I do buy clothes it's all in spring or fall. Tracking my expenses lets me make sure that I'm not spending more than I'm taking in, but lets me decide where to allocate the money as need arises.

[Bluezy]

Re: POLL: Are you on a written budget?

I will have a written budget now that all my debt is paid. I will use my Money Deluxe 2006 to accomplish this. In this budget I will include as much as possible to my emergency Emigrant fund and to college savings for CJ (including his UPromise monies).

[robb_0909]

Re: POLL: Are you on a written budget?

My wife and I are on a zero-based hand written budget. Hand writing it takes me a bit longer and makes me think about it a little more. I start a new one every month for the bills for that month. I also use an allocated-spending plan where you write down each pay period (checks) and allocate what bills will be paid with each check (I also make it equal 0). We write down each and every purchase, date, how we paid (cash, debit), and give it a name (electricity, blow, grocery). We do spend a little time doing all this but I enjoy it and I know how much I spent on gas this time last year!!!

[BAGAGT1]

Re: POLL: Are you on a written budget?

I do have a budget, but it is not really zero based. I do try to keep my expenses within the budget, but if I should go over in a category, I will look to make it up in another category(s). Oddly enough I do try to keep an extra paycheck in the checking account, so I don't have to worry about overdraft fees.

[jmjj215]

Re: POLL: Are you on a written budget?

I do have a budget, but it is not really zero based. I do try to keep my expenses within the budget, but if I should go over in a category, I will look to make it up in another category(s). Oddly enough I do try to keep an extra paycheck in the checking account, so I don't have to worry about overdraft fees.

Having a lag of one paycheck is a great way to budget. You have that nice buffer there at all times.

[akaivyleaf]

Re: POLL: Are you on a written budget?

I'm reactive more than proactive with mine, but next year I've determined that I'm going with the zero-based approach. I'll have two years of solid tracking from which to base my projections on and I'll feel comfortable allocating expenses in categories based on the past performances.

[kzz]

Re: POLL: Are you on a written budget?

I do a monthly budget. I use a spreadsheet method along with an envelope method for groceries/eating out. I take a set amt. each Friday for food and when it's gone, it's gone.