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BUDGET- How do you set yours up? Do you get out cash for each week? Do you have a set amount for groceries? I am just frugal, but I would like a more structured budget, but not so dfficult that I won't use it...any ideas would be great.

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ria7

Asked by ria7 at 3:24 PM on May. 8, 2009 in Money & Work

Level 23 (15,224 Credits)
Answers (11)
  • Well I just recently sat down and wrote out the next 3 months. Dh gets paid every Friday so that is when we buy groceries and pay bills. Therefore I wrote down each friday (e.x. May is 1st, 8th, 15th,22nd, 29th) next to each date I wrote the avg amount of each check. Then I subtract the bills that are due in that 7 day period. (such as water, cable, lights/gas, etc.) Then whatever is leftover is spent on groceries, gas for the cars, and fun. But I also make sure that we have leftover money to help with groceries and gas on the week that we pay our mortgage. It really isn't much to do but I find it helps me immensely.
    kfroz0415

    Answer by kfroz0415 at 3:37 PM on May. 8, 2009

  • I love our budget... I set up a chart that lists out incomes, rent, utilities and car expences then add on extra of needed purchases like diapers and TP, food and clothes... Then add in a small amount for "funny munny" as I call it...

    Now, getting my hubby to stick to it is a whole different story... lol!
    SabrinaMBowen

    Answer by SabrinaMBowen at 4:37 PM on May. 8, 2009

  • You could try using the budget form found on Dave Ramsey's Finacial Peace website. I think you can download the form for free. Basically, you fill out the basics like house, electricity, food, etc. Then the debts that you have. If you have any left over you put it into debts or savings. I'm not good at explaining it. Sorry. But, it's worked wonders for us! Hope the link works.

    http://www.daveramsey.com/fpu/home/?FuseAction=dspContent&intContentID=3006&ictid=Useful_Tools
    Anonymous

    Answer by Anonymous at 7:21 PM on May. 8, 2009

  • I also use the forms from Dave Ramsey. I set my budget up monthly. I also use a cash envelope system to pay for thigs that are a little less structured, like groceries, clothing and other things. I fill my envelopes with cash at the beginning of the month, the amount in determined when we make the budget. The money in the envelopes has to last for the entire month.
    slw123

    Answer by slw123 at 7:36 PM on May. 8, 2009

  • I recently made a post about planning a budget. I think you need to plan for unexpected expenses, and once in a while expenses too. Once you get those down, along with your typical bills then you're pretty much covered. The trick is planning ahead. Even though that "bill" doesn't come in once a month, it's easier to take a little money out now so you can pay for it later.

    Erica_Smerica

    Answer by Erica_Smerica at 9:16 PM on May. 8, 2009

  • I agree with the others about going to Dave Ramsey. I love his plan! We've been working on becoming debt free and have paid off $47,000 so far. And now that I have a plan, I love working on the budget. It's not only fun to pay the bills, but I love seeing how much progress we've made in just a relatively short amount of time.
    ReesesPieces

    Answer by ReesesPieces at 10:21 PM on May. 8, 2009

  • Come visit our Dave Ramsey group here on CafeMom!!! :)
    fluud7

    Answer by fluud7 at 10:28 PM on May. 8, 2009

  • well, mines different now (long story), but when I was living in my old apartment...

    The first of the month.. a new month.. that week I go to a bulk store, to get things we are low on (saves me lots of money). And put aside a quarter of the rent.
    Next week.. pay off two of 3 other bills (all in one, car, utilities)... and get a few basics for groceries (since I normally still have A LOT from buying bulk), and put in another quarter of the rent.
    Third week... pay off last bill, go bulk but on a lighter scale since I still have somethings left from earlier that month, plus a few extra if running low on something, and put in a quarter of the rent.
    Last week.. get basics for groceries, pay landlord all the rent, and get anything I wanted/needed that I neglected all month.

    third week
    xxhazeldovexx

    Answer by xxhazeldovexx at 10:28 PM on May. 8, 2009

  • We made a budget before we bought our house 11 years ago (how else could we know what we could afford?). It has morphed over the years and really, we try to save as much as we can and spend as little as we can. I do meal plans once a week, and base my grocery list off of my plan for the week. I flip through coupons before I plan meals.
    rkoloms

    Answer by rkoloms at 11:27 PM on May. 8, 2009

  • What is a budget? Just kidding I know what it is but we do not use one.
    lapcounter

    Answer by lapcounter at 8:21 AM on May. 9, 2009

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