cheapie

We're going through a financial course at church and will be starting a budget next week. My wife and I sat down last night to work on the budget and realized how much money we're blowing through without it. And we also realized how blessed we are compared to a bunch of the people in the class that can barely make ends meet.

We're doing one through the DDave Ramseycourse we're taking and I'm excited about doing it.

Are you on on? Has it helped you control and build you wealth or is it meh?

zippyjuan

I don't use a budget, but I do make strong differentiation between needs (food, shelter, and clothing) and wants (computer upgrades, bicycles, toys, etc). I always make sure I can pay for what I buy at the time of purchase and try to find the best deal (price and quality-low price on low quality is not value) on it. Perhaps having bikes in there is unfair since a bike is my car and important. I have two of those- one road bike (still in the shop) for pleasure rides and a mountain bike for errands. I have no kids and can walk to work so a car is definately not a necessity. I am just very careful on what I spend my money on and have to justify it to myself. Just because I want one and can afford it is not usually enough. I do treat myself from time to time of course. I carry limited cash to keep from spending much. If you are not sure where your money goes, it is good to take a look at where.

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BigJon

We try to stick to the budget...but sometimes go a bit off the trail. So far though, we've been able to live without feeling like it's "paycheck to paycheck". We had a bad stint awhile back when Amy started staying home with the kids. We were living from one payday to the next and had done pay advances multiple times. Luckily our tax return helped put us back on our feet and we've been able to keep somewhat of a savings since January.

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kimchicowboy

i think i am. i keep track of my spending and definitely don't go paycheck-to-paycheck. i think not eating out all the time helps (considering i'm a bachelor). in fact, pretty much M-F, i never eat out.

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"I pick my nose too but never eat it." - bachviet, 3/30/04

if anyone wants to go scuba diving in oahu or wants to learn who to scuba dive in oahu, PM me.

smeakim

I have a budget set but we don't follow it. With the impending arrival of our first, monster, I mean boy we are getting closer and I know once he arrives we will be living on a stricter budget but right now no.

mcs328

I always had one mentally and did create one on the computer a few years ago. I'm always aware how much I have in the bank, what big bills are coming up and how much can I spend and still recover. I generally don't worry unless I'm planning something big like a wedding (mine) or a trip. During those events I closely monitor what I eat and drink. I buy luxuries only if I think I can afford to do so.

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VTGreg

My wife and I developed a budget when we started looking for a house and have attempted to stick to that each month. It doesn't always happen but we do a pretty good job.

It is a good idea to at least go back and see where your money goes on a monthly basis.

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It only ends once... Anything that happens before that is just progress.

Courage is not the absence of fear but rather the judgment that something else is more important than fear.

esme

i'm not on a budge now but i hope to start soon.

i know where all my spending goes and i rather not think about it

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-Esme .....

"There is no remedy for love but to love more."

Maarchk

My budget consists on living cheaply when alone, but spending reasonably with friends. Gradschool wipes out half of my credit card to pay tuition and so for the rest of the months i cover actual bills, and then alocate X amount to savings, and X amount to fun. Savnigs must always be greater than fun, and savings must be at least 300 a month. When i get a bonus, i take 100 dollars for fun and the rest, no matter how much goes to savings. Its good, cause i make myself plan ahead for expensive things. LIke if i want a 400 dollar vacation, i save the 100 bucks up for a few months instead of simply not saving as much. I do this because i know if i break my law once, i'll keep doing it. So i never start. Some times it means i pass on a fun trip, but i think that i gain more from that expeirence than just treating myself.

good luck with your new budgets

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"The girl is crafty like ice is cold."

"I left my heart in san francisco... And my liver at Moe's Tavern."

A real friend is one who listens to you as much as they talk to you.

kgsilvas

I used to listen regularly to Larry Burkett's “How to Manage Your Money" on the radio and got interested in his non-profit, Christian Financial Concepts. That became Crown Financial Ministries which is run by Howard Dayton since Larry's death on the 4th of July in 2003.)

I would recommend checking them out as they have several financial tools and other resources to assist people in achieving financial freedom. Get started with their Money Map, it worked for us.

We are nearly debt free, with just a single mortgage at this time. I anticipate paying that off by next year so we'll own two homes free and clear, in addition to some property in CO and our new vehicles. The next step is planning a workforce exit strategy that keeps us financially free now and throughout our golden years.

We have been truly blessed and know it!

Sirrich3

My wife and I need to get on one...Just too Spoiled!

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Kevster

I have had us on one since we were married. I had a personal one when I was single too. I have Mrs. Kevster in charge of paying the day-to-day bills, while I take care of the investments and future expenditure planning. By doing this I try to make sure that Mrs. Kevster knows where our money is, what it's doing, and why we can't take our money out of our investments and spend it. I finally have her understanding that in order to make money on investments, you need to start with a sizable amount of investment capital. That has allowed me to take larger positions in stocks and helped me to increase our monthly return through options (call options, mostly).

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I think over again
My small adventures, my fears.
The small ones that seemed so big,
For all the vital things I had to get and to reach.

And yet there is only one great thing, the only thing:

To live to see the great day that dawns,
And the light that fills the world.

-old Inuit song

dbax791

Yup. I read Ramsey's book a while back and I agree with about 90% of it. His plan makes sense, start an emergency fund and aggressively pay down debt.

I have my mortgage and car paid off and have zero credit card debt. Plus an emergency fund if I need it. It is such a feeling of freedom that if for some reason I get laid off at my job or end up hating it that I don't have some banker to pay to meet obligations.

The thing Ramsey will tell you is to destroy all credit cards. I don't agree with this. Especially if you have employer-reimbursed expenses. Just pay off the entire balance each month and if you have a rewards card, collect it. Just understand his program is kind of geared towards people that need that credit card to buy a plasma TV or other luxuries.

cheapie

we've been doing it for a month now. it's great to know exactly how much money i have to spend and know where everything is going. plus, i'm amazed at how carrying cash has really helped me curb my spending on crap. i used to buy snacks and pop all of the time at gas stations. now i'm all...ummmm, i don't really want to part with my bills so i'll pass and drink water.

plus, i have my blow money that i can use for whatever without feeling guilty. i'm actually saving most of it. and i love that my wife and i know how much we can spend every month on entertainment. want to go out to eat? let's just see how much money we have to do so.