Seriously. I have a problem. It's pyschological. My budget has bulemia. Its bad. Real bad.
Every month I think, oh I'm doing sooooo good. Then BAM - I need new glasses I didn't account for. Or BAM - Mike needs basketball shoes -- ok, not needs, wants. Or BAM -- James needs new clothes again?!?
So what's my problem? I think that I can stay with in a certain budget but I never do. I do awesome, awesome, awesome, then since I'm doing so good - I splurge at the very end. Usually ending up the same place I started or over.
My final attempt at this thing called a budget -- I'm going to pay EVERYTHING with cash. If I dont have it then I can't buy it. This goes for groceries, gas, eating out, movies, diapers, etc, etc. The reason? Well there are many, but you can guess I have plans... BIG PLANS.
I've never been one to balance a checkbook. In fact it wasn't until after about a year of marriage did I even try. And as for a budget -- well it's as new to me as a mayonaise sandwich. Sick by the way. But at least I'm trying, right? I mean, right? Isn't that all that counts? If it doesn't work out then I give up. It seems like I did so much better before this stupid budget thing anyway.
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I can never stay within a budget either, every month my credit card statement is a mystery (kind of like getting a surprise present...no, more like a bomb...in the mail) Oh, well. When you figure it out, let me know. And I'm assuming these are big SECRET plans that you won't be sharing?
It took him 2 years to convince me to do this, but Larry & I now have a monthly "slush fund" for all those little extras we need periodically but can't set a certain dollar amount for. (i.e. new glasses for Larry, dental work, etc.) Only... instead of it covering the unexpected "extras", I find "extra" things that we need to spend it on during the first week of the month. :)
I keep my check register on the computer. Alan and I enter the receipts on the computer, and it tallies it right up. I don't know how I lived without it.
I keep saying I'm going to buckle down and really budget and I keep slacking - although I am being money conscious, I'm still not exactly budgeting - but ...
my mom is a budgeting guru - seriously - she goes around helping people and she was asked to give presentations all the time in my home ward/stake and to meet with individual families as well - she has helped a lot of people - some in serious trouble and some just wanting a few tips. The nice thing is, she loves offering it as a service and would probably honestly be willing to help and meet with any of you (me too). She says there is a big difference between budgeting and just keeping track of your money, one involves planning and avoiding danger and one just keeps track. I know she always recommends a misc./extra fund as well, b/c those are inevitable - some months more and some months less. She's REALLY good about analyzing spending and figuring out a budget from it; where you can afford to spend less, and where you can even afford to spend more! Paul and I keep meaning to meet with her, but we just need to do some of our homework and preparation first so she can help us better. Let me know if any of you want to meet with her.
Don't give up!! (I just need to put the initial hard work into it to get it going and sustainable).
I am good one month and then really bad the next which completely negates the good month. It's amazing to me though because when the cash flow is lacking I can live off of next to nothing but when we have extra it all gets spent. Budgets are good, I just need to be more consistant. Maybe that will be next months goal.
I am just like you...I can't tell you when the last time was that I checked my bank acct. Steve gets so mad at me. But I'm much too busy finding all of the great deals to worry about whether or not I can afford them!!
John and I are fanatic savers. I'm glad we were both this way even before we got married because it helps now in our marriage. We both worked through college and we didn't come out with any debt. John worked for Sprint for four years and had them pay for his college. Here are some tips that help us that we continually commit to every week:
1)Live off of 70% of your income
Here is where the other 30% goes to:
10% tithing
10% emergencies
10% savings
Note: emergencies include new a/c unit, glasses, car and medical expenses. NOT a new couch or TV
2)With anything we only pay cash. We wait and wait and wait until we've saved enough. Teaches you a lot of discipline.
3)wear it out or do without.
4)Stop buying and start analyzing what you already have-dejunk your house and you'll see money you've wasted in the past and you'll definitely be on a buying diet!
5)Define your needs and wants.
6)Buy your kids clothes used because they grow so fast there is no point in buying really nice and new.
7) When you are buying something ask yourself if you need it, do you really have the money for it and are you being honest with yourself by buying it.
I'm pretty passionate about budgeting and saving because although we live on a tight budget, we are saving for the future and for unexpected things and there is freedom and piece of mind. We are definitely not a slave to our behaviors and I find that to be very refreshing and relaxing. I have tons of other tips that I've gathered along the years but I won't bore you anymore. Good Luck and Budget on!
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