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How do you budget your month?

I'm not really great when it comes to saving, budgeting or financing money. Whats your routine? I need some advice, tips.. anything lol.


Asked by Anonymous at 11:29 PM on Nov. 2, 2009 in Money & Work

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Answers (5)
  • What I do is label an envelope for each bill and put money in each until the bill can be paid. Then I take whatever is left over and divide it into four parts and label four envelopes week 1 week 2 and so forth. Then I get paid once a week!

    Answer by Anonymous at 11:43 PM on Nov. 2, 2009

  • We keep a spreadsheet with all of our expenses. We know what most of our expenses will be for the month: gas, electric, etc. We don't spend extra money without checking the spreadsheet. Whatever is leftover at the end of the month goes to retirement saving or our daughter's college fund (these used to be line items in our budget when our income was higher).

    Answer by rkoloms at 6:39 AM on Nov. 3, 2009

  • Well we have a bill book and pay the bills at the same time each month.I also have a friend that is helping us manage our fiances.She has helped us see where we are spending the most on things we dont need to,we pulled that money and have started saving it.In just a few months time so far I have been able to eliminate a few debts.We will be debt free by the beginning of the year.Since I started working part time we have been able to save more.Anyways,budgeting is hard and has taken us some time getting used to,but am glad that we are doing it.

    Answer by Nattiesmom9603 at 7:24 AM on Nov. 3, 2009

  • I use a monthly balance sheet , basically an expense report including our varialble expenses ( food, entertainement ,etc) and fixed expenses ( Mortgage, ins, car pymt,etc) then remaining amount we divide in 4 and create a budget for food, gas, entertainment, clothers/other for the week and put the cash into labelled money jars. I try to use cash to lower our monthly bank charges.This has helped.

    Check out her website...she has changed our financial future....

    Goodluck :)

    Answer by Danickasmom at 10:12 AM on Nov. 3, 2009

  • We have a general budget that includes those things that are set in stone- like rent and insurance don't change so we've got those down.

    Then we budget high for things like utilities and phone. We also gave ourselves a set amount or groceries, car repair, diapers, etc.

    When my husband gets paid, we leave enough in our account to cover bills paid online or by check- and then we take out the cash we need for everything else. The cash is divided into envelopes with labels on them- when they money is gone it's gone.

    I've estimated that using the envelope system has saved us about 20% every month.
    Hope that helps :)

    Answer by Anonymous at 2:21 PM on Nov. 3, 2009