Do you have a budget?

Pdyx · Post by **Pdyx** » Tue Aug 02, 2011 9:48 pm

The utilities and poverty thread (and my own budgeting) led me to ask this.

I have one, and it's hard to keep to it, because mostly we're living off of only my income and my wife is in school. We usually don't go very much over if at all spending what I made in a month, but we aren't saving any money and we aren't making as significant a dent on debts as I would like. However, we are making progress on debts, so that's good, and we aren't starving and are mostly living within our means, even if it's not saving 10% and being debt free.

sinsual · Post by **sinsual** » Wed Aug 03, 2011 5:57 am

We are, but to keep to it, 90% of what I make goes straight into the billing account.

However, with the aquisition of the Versys, I have blown my spending account and dented the car loan budget paying for the hard bags, racks, full race exhaust, power commander and auto-tuner. All i need to do to it now is make a more free flowing airbox/aitfilter assembly (K&N doesn't make one) and get the gearing right.

Bonefish · Post by **Bonefish** » Wed Aug 03, 2011 8:55 am

I have a budget. It's generally: "get through next week alive, and we'll talk".

3278 · Post by **3278** » Wed Aug 03, 2011 6:15 pm

My budget is laughable. I still haven't done the calculations to see if I can actually pay all my bills at the same time. It's stupid. Typically I live week to week, with the extent of my planning being setting aside money for rent, child support, gas and food in my head, and then forgetting to pay bills out of the rest. I shouldn't be allowed to be on my own without supervision. It's cost me, I don't know, three or four houses, living this way, and thousands in debt.

Someday I would like to earn more than I spend, have a monthly budget and a five-year-plan, and make sure at least 10 percent of my income goes into savings. Maybe even have some kind of retirement plan. Like a grown-up.

AtemHutlrt · Post by **AtemHutlrt** » Wed Aug 03, 2011 10:56 pm

Does not [usually] spending money on bullshit, and trying to spend within my means count as having a budget?

Tiny Deev · Post by **Tiny Deev** » Thu Aug 04, 2011 9:58 am

Atleast 60% of my income goes to savings. But, because my income is only about 400 euros a months, thats not a lot. Still it suprises me how much I can manage to save every month.

I have a very rough budget. 100 bucks for drinks and food a month. The rest goes into my savings account. But I still live at home so that works pretty well.

Pdyx · Post by **Pdyx** » Thu Aug 04, 2011 7:05 pm

Having a budget doesn't necessarily mean having a balanced budget. For those of you who live week to week, I challenge you to to create a spreadsheet and keep track of your earnings and your expenses.

I found this insightful in many ways. I think if you aren't making "enough" money, it's even better to try and figure out where it's going than if you're making "enough."

I really wish I had been into keeping track of this thing before I got married, because I know I spent thousands of dollars on eating out and drinking that was just plain silly and would have presented itself as such if I had seen it laid out in front of me rather than just living it.

I'm kind of obsessed with our budget. I look at it daily and put every new expense on it within a day or two and eagerly await the day our debt (or at least credit card debt) is paid off.

Serious Paul · Post by **Serious Paul** » Thu Aug 04, 2011 7:12 pm

I try, but frankly only marginally more skilled than 3278 claims to be. I try, but money is quite apparently, from my track record, my poorest suit. Uncle Joseph may complain about his debt from time to time, but the guy is pretty damned smart with it all-I wish i was more disciplined like him.

WillyGilligan · Post by **WillyGilligan** » Sat Aug 06, 2011 2:07 am

After watching Dave Ramsey, we have been trying to stay in a budget. Now that we live in Hawaii and the kids are all getting older, the budget is a bit depressing. Three pairs of glasses in the family, soon to be three sets of braces, the school charges $74 per student per marking period to ride the bus, and we live in one of the most expensive places in america to buy food that is not a pineapple (and my Dad says that those used to be more expensive in Hawaii too).

It's a work in progress.

3278 · Post by **3278** » Mon Aug 08, 2011 1:32 am

Pdyx wrote:Having a budget doesn't necessarily mean having a balanced budget. For those of you who live week to week, I challenge you to to create a spreadsheet and keep track of your earnings and your expenses.

I've actually been kind of doing this. I'm actually at a point where there are things I need that I care enough about that stretch my resources to a close enough point that if I don't want everything to get ruined, I have to plan ahead for. So I've been using spreadsheets to do projections for every week out to a month, and then to track my spending as I go through the month. It's useful, and humbling.