Comments on: Question of the Week: How do You Budget?

By: Jeremy

Jeremy — Thu, 01 Jan 1970 00:00:00 +0000

I use an app on my iphone to keep on top of expenses on a day to day basis and for our cheap wedding we found setting a firm budget early on and sticking to it made a big difference.

By: Jeb

Jeb — Thu, 01 Jan 1970 00:00:00 +0000

We have never budgeted. We just try to make sure that we a lot spend less than we make and then save and invest the rest. I would be interested in seeing exactly where our money goes each month and areas we could adjust. I’ll keep checking in to see what you suggest as a good budget program.

By: Shaun McGowan

Shaun McGowan — Thu, 01 Jan 1970 00:00:00 +0000

Making a budget work for you can be a challenge. if you stay organized and budget wisely, you ought to be able to stay within your budget and be able to save for the future.

By: Natalia

Natalia — Thu, 01 Jan 1970 00:00:00 +0000

I mentioned your post in my blog this morning as part of a post on the best things I’ve read all week! Take a look here http://tiny.cc/XO1BI Cheers!

By: Adam

Adam — Thu, 01 Jan 1970 00:00:00 +0000

I use my own custom built excel. I automate as much as possible -investing, saving, rent, bills etc and allocate the rest of my planned spending by %.

I don’t keep to the budget 100% of the time but as I plan to save a comfortable % each month I have a little wiggle-room.

The thing I’ve found most helpful is to avoid as many regular monthly expenses as possible: I have a pay-as-you-go-phone, I don’t go to the gym ( I cycle to work and everywhere else) and have cut back magazine subscriptions.

By: Maddy

Maddy — Thu, 01 Jan 1970 00:00:00 +0000

All utilities are on the budget plan and automatically deducted from one of two credit union checking accounts. I keep an index card in each checkbook with list of bills and amount of each bill to be paid from that account. When pension checks or soc. sec. check is deposited I enter it in the proper checkbook and automatically deduct said amounts from checkbook immediately no matter what time of month it is due. Also deducted from checkbooks is automatic savings transfers to cover any expenses not deducted on a monthly basis ie. Insurance, doctor and meds etc.

I have 3 credit cards one for gas only, one for prescription and doctor visits only and the third is used for on-line purchases. All are paid in full at end of month. The balance of money in checking account can be used however I choose. If there is any left at end of month. I will add it to my secondary savings at one of the credit unions. There is $500 in each credit union primary savings to cover any emergencies.

This system has been working just fine for me. Since all bills are covered and e-funds are put aside I don’t worry about spending too much on eating out or anything else as long as I don’t spend more than what is in checking account.

By: Jo/Gaelicwench

Jo/Gaelicwench — Thu, 01 Jan 1970 00:00:00 +0000

I am a big fan of YNAB3. It’s very simple to navigate and does a lot without all the unnecessary bells and whistles, as I’ve discovered in other standalone and web-based budget software. I was fortunate to not have to pay the full price because I already was using the Pro version. I really like the concept of building a Buffer so that living paycheck to paycheck becomes non-existent.

It’s like an envelope budgeting system without using one.

By: Stay at Home Mom CFO

Stay at Home Mom CFO — Thu, 01 Jan 1970 00:00:00 +0000

I just finished my first budget last week. Right now, it’s on paper. All our actual payments are made online and I use ING for saving for irregular expenses. Maybe once I get the hang of it I’ll move to a software program. But as of now I’m comfortable checking off the monthly paper budget with a pen. It’s a big step for us that we actually even have a BUDGET!

By: PT

PT — Thu, 01 Jan 1970 00:00:00 +0000

@Laura – You know, I did a NeoBudget review back in 2008. I may have to revisit that one again though. Thanks for sharing your system.

By: Liane

Liane — Thu, 01 Jan 1970 00:00:00 +0000

For the past year or so I’ve used a small table-top calendar (showing the current month) to mark down the dates a utility or mortgage payment is going out via online bill-pay.
As soon as a bill comes in, I schedule it for immediate payment and mark it on the calendar. I can see at a glance (and so can the hubby) where the money is going and when. I have a set amount of money that goes into our savings account every two weeks, and we don’t usually vary very much from our grocery or gasoline expenses week to week.
For me, this is a very basic system that is handy, simple and easy for my husband to have access to, as he doesn’t always have time to go on the computer.
Online bill pay is a free service provided by my bank and it saves me a great deal of money on postage. And the calendar was free, too )