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For those of us who budget...

For those of us who budget...

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  • Dopey406 Dopey406's Avatar 08-28-06 | 10:38 AM
  • ...what does your budget look like?

    How many are in your family?
    How much do you budget for what?
    Do you budget with cash or do you use checks/debit?
    How do you divvy up the portions of your budget?
    Do you stick to your budget?


    For those who DON'T budget, this might be helpful in getting started. And for those who DO budget, this might be helpful in refining our systems.
     
  • Dopey406 Dopey406's Avatar 08-28-06 | 10:46 AM
  • How many are in your family? 4--DH, me, two DDs, ages 1 & 3.

    How much do you budget for what?
    We usually pay all of our bills on the 1st and 15th of the month to get them out of the way. Then we break down our 5 regular categories into the following:[LIST][*]Groceries--$130[*]Diapers--whatever we anticipate needing. Never more than $45, but every other time it's nothing.[*]Gas--again, depends on our anticipated travel--usually $50-75.[*]Miscellaneous--$20[*]Dining Out--$20[/LIST]Then we get our "Pork Barrel" list out and make envelopes for anything else we'll need for that two-week period. Oil for car, specific clothing needs, Sarah's preschool, etc.

    Do you budget with cash or do you use checks/debit? We use only cash. We don't keep exact track of our money if we use the debit. So we pay for everything with cash now.

    How do you divvy up the portions of your budget? We divide the money up into envelopes and if we are going out for something, we take the envelope with us. We don't split it between the two of us or anything. Just envelopes. In fact, this morning, DH got halfway to work and realized he'd need gas today, so he turned around to come back for the gas envelope.
     


    Do you stick to your budget? We have to stick to our budget because it's in cold, hard cash. Sometimes we have to take from the Miscellaneous envelope to cover a miscalculation somewehre or an unexpected expense, but we usually stick to it pretty well.

    ETA: I forgot to mention that after we pay the bills and divvy up the envelopes, we put ALL of the leftover money (except about $40 just to be safe) toward our debt. We leave ourselves a $40 cushion in case something comes up. But we put everything extra toward debt.

    Last edited by Dopey406; 08-28-06 at 10:49 AM..
  • Sheri Sheri's Avatar 08-28-06 | 02:00 PM
  • You know Deanna I thought I was very organized with budgeting but I've got a looooong way to go!!
     

    I like the cash envelopes idea!!
    There are 6 of us in our family. When Kim gets paid we pay our bills first and put gas in the vehicles. Whatever's left is for food and entertainment, or whatever. That's the extent of my budgeting- I'm awful!!!
     
  • Susan Susan's Avatar 08-28-06 | 02:12 PM
  • i sort of have a budget but use my debit card for everything and then i write it in the checkbook so i keep track that way.

    family of 4
    I generally know how much a month l spend on things but i always spend a little extra here and there

    Like for food I figure about $600 a month with a little extra a BJ"s
    Gas: $500-$600
    Misc: $200

    we kind of eat out sporadically so ir eally dont' budget for that either
    To be honest..I never say well..i spent $600 on food this month already so I should watch out the ret of the month
     
    I guess I need to keep better tabs on what I spend
     


    so i guess i really don't have a budget..
  • erinjj erinjj's Avatar 08-28-06 | 02:17 PM

  •  
    You all are so organized!

    We have 5 in our family right now.

    What I do is make a pencil list of all my anticipated expenses in the beginning of every month. Then I add what I know I will be bringing in, and whatever I have left goes into savings or for unexpected expenses. I thought I was being organized until I saw what some of you do!