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Do you Budget?

Do you use the envelope system or how do you keep track of your budget? Do you pay your bills weekly or once a month?


Asked by hsmominky at 12:40 AM on Sep. 4, 2010 in Money & Work

Level 23 (16,376 Credits)
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Answers (10)
  • We definitely budget. My husband also gets paid once a month. We make out our budget monthly, pay all of our bills, fill our cash envelopes and pay cash for anything that is not a monthly bill. If we know that we need to make a big purchase in the future we put that into our budget. Like if we need new tires, we'll break it down into a couple of months and save up the money to buy the tires. Right now we are saving money for new windows for our efficient, hurricane force wind resistant windows. We have been saving for several months and we are almost there. As far as how I keep track of my budget goes, it is actually written down and posted on my refridgerator. We use a form from the Dave Ramsey website, it covers everything we need.

    Answer by slw123 at 11:48 AM on Sep. 4, 2010

  • I am like you, I only get paid once a month and I pay everything for the month. I keep my budget on an Excel spreadsheet. I keep my budget for the entire year, because I know what my paycheck will be for the entire year. In that year long budget, I put in things like birthdays that are in that month as well as holidays. I have found that no matter how much you want someone you love to budget or at least live within their means is heartbreaking. I also hear from people that I have tried to come on board with a budget and I laugh when they say they do not have enough money to budget. I find the less money you make the more you need to budget every last penny. IMHO.


    Answer by Joeygoat at 12:49 AM on Sep. 4, 2010

  • I only ask because with the way the economy is, it seems like it is getting harder for people to budget their money and make it go as far as it needs to. I've always been able to budget but I've tried to teach my Brother and Sister in Law and it never works. They use the envelope system and always borrow from one of the bills to have money for something else.
    We get paid once a month and when we do, I pay everything. We pay all of our bills, get gas, and groceries. I amke out a monthly menu plan and we buy everything on it for the month at the beginning of the month. This makes things very tight for us but we are able to make it every month knowing that everything is paid, we have our own home and have food to eat. It is rough but if you discipline yourself it is possible to successfully budget.

    Comment by hsmominky (original poster) at 12:43 AM on Sep. 4, 2010

  • I was using quicken online but they have discontinued their service and moved to to track budgets. To pay my bills, I use web bill pay through my bank - I set up the payment to arrive on time when I receive it and then I'm done.

    Answer by tortkey at 12:44 AM on Sep. 4, 2010

  • I always find it funny when people say they don't make enough either. My Father taught me when I was a little girl that no matter how much money you have, it will never be enough. The more you make, the more you tell yourself you can spend on what you want.
    Budgeting is a very hard skill to learn but once you learn it, is is such a relief to know that everything is taken care of.

    Comment by hsmominky (original poster) at 12:50 AM on Sep. 4, 2010

  • We budget.
    I use Microsoft Money to track my income and expenses, balance with the bank, and keep track of the cash flow. Our income is enough to meet our needs because we scaled back on our wants. DH is the only one with a prepaid cell phone (no monthly plan). We drive 11 and 12 year old vehicles that are paid off; they may not be fancy or look perfect but they are reliable and run well because we keep them maintained. Our home is not fancy or modern but it's paid for. We do not eat out unless we have extra cash, and our grocery budget fits what we have left over after paying bills. We're far from wealthy or even middle class, but we still put money into savings every paycheck. I've learned to make it work.

    Answer by michiganmom116 at 9:39 AM on Sep. 4, 2010

  • We don't have to live on a budget anymore. About six years ago, we had been hit with about $20,000 in out of pocket medical expenses and were trying to pull out of that. I made a list of every expense we had and all the income we had coming in, trying to figure out how long it would take to pay it off. I overestimated all of our expenses by about 8% and rounded down on our income. I have always paid each bill the day it came in, so I would never get behind.

    Answer by JulieJacobKyle at 11:25 AM on Sep. 4, 2010

  • We pay bills a week before they are due. We know how much is coming in and how much is going out. I've never heard of the envelope system.

    Answer by HotMama330 at 11:35 AM on Sep. 4, 2010

  • I have never created a budget. We spend what we have to spend.

    Answer by queen.bee at 1:10 PM on Sep. 4, 2010

  • It's really very easy not to have enough money to budget. For example, if your monthly income is $800 without tips, and your mortgage is $898/mo ... you really can't budget for gas, electric, water, trash pick up, medical expenses, clothing and groceries.

    Answer by aliceinalgonac at 5:33 PM on Sep. 4, 2010