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  1. #41
    Member devaf's Avatar
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    I budget and in the following ways.
    Home and business budgets are separate.I will also stick to home budgeting like the posts in the thread.
    My wife (also typed as intj v.recently) handles the money, but we plan together. Basic cash flow statements are the tool to budget, rest is discussion and mental memory.
    On a side note, I chose always term insurance covers, low premiums, high coverage, zero returns. My wife, she looks at that like its only for tax break and investment purpose. Its a source of conflict at home, or rather, used to be.
    My basic ideas
    waste not, want not
    maintain written accounts
    avoid debt, even at cost of lower lifestyle
    savings is not really useful today, unless its part and parcel of 'savings and investment'
    don't be penny wise and pound foolish
    you get what you pay for
    keep aside a portion to give for social responsibility programme/s
    when budgeting, if you have to keep buffers, you don't have enough data and a good plan

    thats it i guess
    “By our stumbling, the world is perfected.”
    ― Sri Aurobindo

  2. #42
    The Bat Man highlander's Avatar
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    Quote Originally Posted by The Iron Giant View Post
    Since my eight year old still refuses to manage the money in my household, I'm stuck with the task. I don't keep a solid budget, but I'm actually quite good at managing money, because to me it's all just a big math game where I try to have as high a score as possible, but the ultimate goal is just to stay in the black. I don't really stress about it at all, and in fact I don't check my bank statement daily or even weekly.

    My ex-wife, on the other hand, insisted on managing the money, yet stressed over it constantly, and I know other people at a comparable level of income to mine with fewer expenses who worry about it a lot more, too.

    How does money feel to you, and what do you do to manage it?
    Budgeting has always been an abysmal failure for me. I don't have the discipline to do it and find it far too tedious. I do a few things though:

    - Always spend less than I make
    - Always take a liberal percentage and put it into savings; don't even give the money a chance to be spent
    - Always pay off credit cards every month
    - Take maximum advantage of 401k, profit sharing plans and the like
    - I don't have a mortgage anymore but when I did, it was always 15 years
    - I don't speculate on stocks (anymore) and largely use index funds
    - I usually buy used cars instead of new ones
    - I don't pay much attention to the stock market but calculate net worth and investments on a regular basis - perhaps every month or two
    - I run scenarios on future cash flows; like say if I stopped working tomorrow, 5 years from now, 10 years from now, etc.; contingency worst case scenarios are always part of it

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  3. #43
    Senior Member prplchknz's Avatar
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    My budget pay all bills and rent first worry about everything else after
    In no likes experiment.

    that is all

    i dunno what else to say so

  4. #44
    Freaking Ratchet Rail Tracer's Avatar
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    I'm actually learning to budget. I think the main focus for me is separating what I need versus what I want. Bills that I need to pay monthly goes towards a separate, but connected checking account. Money that I plan to use something that cost a bit more go into the savings of this account.

    Basically, money left-over goes towards my first account that I have with a debit card. This account, I can spend on food and gas.
    Bank Account 1:

    * What is left over after deducting bills and future purchases
    * Used for general purchases like food, gas, and other consumables
    * Uses Debit Card for general purchases
    * Kept connected, but separate from the second bank account

    The second account will not be using a debit card, it is strictly for paying bills with a check. It is separated between the checking, that I'll be using for monthly bills, and a savings, which is used for future purchases that require more than a little bit of money. Bi-weekly, money is sent into this account that I do not touch except for bills.

    Bank Account 2:
    * Bi-weekly transfers from Account 1 to this Account
    * No debit use for this account
    * Check is used for paying bills and such
    * Bills that are paid monthly goes towards Checking
    * Bills or future purchases that require larger sums goes towards Savings to accumulate.

    Bank Account 1 is what I want while Bank Account 2 is what I "need".

  5. #45
    alchemist Legion's Avatar
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    I need to start budgeting. I spend too much money on my addictions. Tobacco, alcohol, energy drinks, take away food. And it's not like I make much money, either. So my budget, starting next year, will be: don't buy these things. Pay for: rent, travel, cheap and healthy foods, phone credit. But am I really going to be able to achieve this? \(o.O)/ Why of course I will!

  6. #46
    just a vessel EJCC's Avatar
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    Took me so freaking long to come up with a budget system that works for me, but I finally have one.

    I'm naturally thrifty in almost every way, but I also live in an expensive city with a culture of eating out and VERY high rent costs, so budgeting ended up being necessary despite that. My main irregular expenses other than impulse "investment" purchases* are related to food.

    SO.

    I have my regular payments that are the same monthly: rent, utilities (with some variance by season), phone, public transport, charitable giving, Netflix, Spotify, my gym, Classpass, and therapy.

    Then I have a weekly food budget for both eating out and buying groceries - starting the budget week on Friday or Saturday so I can splurge a bit on social engagements before buying cheap groceries for the week and being thrifty Monday-Thursday.

    And then I have the "miscellaneous" amount for everything else. That miscellaneous amount is not very high, but like I said, I'm thrifty, so I usually stay around there.

    Everything else goes partly into paying down my credit card debt, partly into my 401k, and mostly into my savings account. I haven't achieved 50/20/30 but I'm around 55/15/30 ish, which isn't bad.

    Some other quirks of my budget system:
    - I only use cash to buy food, because it's the budget area where I'm the most prone towards overspending, and using paper money helps that spending become more tangible.
    - I have a somewhat ridiculous and arbitrary system in which all coinage smaller than a quarter goes into a savings jar. Started off as a joke but I have about $10 in there now, so now I have to decide what it's going to...

    I also have the Acorns app. So some small coinage amount goes in there monthly - I don't track it carefully.


    *"I should have this high quality thing that will last forever! That would be a good investment!"
    EJCC: "The Big Questions in my life right now: 1) What am I willing to live with? 2) What do I have to live with? 3) What can I change for the better?"
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  7. #47
    Liberator Coriolis's Avatar
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    Quote Originally Posted by EJCC View Post
    Then I have a weekly food budget for both eating out and buying groceries - starting the budget week on Friday or Saturday so I can splurge a bit on social engagements before buying cheap groceries for the week and being thrifty Monday-Thursday.
    Wouldn't it be easier to start your food budget week on Sun/Mon, be as frugal as you can buying groceries, and then limit weekend splurging to what you have left?
    I've been called a criminal, a terrorist, and a threat to the known universe. But everything you were told is a lie. The truth is, they've taken our freedom, our home, and our future. The time has come for all humanity to take a stand...

  8. #48
    just a vessel EJCC's Avatar
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    Quote Originally Posted by Coriolis View Post
    Wouldn't it be easier to start your food budget week on Sun/Mon, be as frugal as you can buying groceries, and then limit weekend splurging to what you have left?
    Can’t speak for my future self, but currently I have too much social FOMO for that. :/ It’s easier to say no to weekday plans than weekend plans.

    Also: I have a tendency to want to go to coffee shops on weekdays, and this system keeps me from doing that.
    EJCC: "The Big Questions in my life right now: 1) What am I willing to live with? 2) What do I have to live with? 3) What can I change for the better?"
    Coriolis: "Is that the ESTJ Serenity Prayer?"

    ESTJ - LSE - ESTj (mbti/socionics)
    1w2/7w8/3w4 so/sx (enneagram)
    member of the month (May 2018)
    want to ask me something? go for it!

  9. #49
    Senior Member Stigmata's Avatar
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    My budget method is just to earn more money.
    Likes JocktheMotie liked this post

  10. #50
    Liberator Coriolis's Avatar
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    Quote Originally Posted by EJCC View Post
    Can’t speak for my future self, but currently I have too much social FOMO for that. :/ It’s easier to say no to weekday plans than weekend plans.

    Also: I have a tendency to want to go to coffee shops on weekdays, and this system keeps me from doing that.
    What is FOMO?
    I've been called a criminal, a terrorist, and a threat to the known universe. But everything you were told is a lie. The truth is, they've taken our freedom, our home, and our future. The time has come for all humanity to take a stand...

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