The importance of budgeting

vka1

I have to make sure that my monthly spends are lower than my income, so if there is not one item on my spreadsheet that I can shave down then I wouldnt make overpayments that would turn my spreadsheet red. With my fixed income Ive already worked out what my maximum overpayment can be.

Thanks Canidothis but I had some money to over pay with from before starting my spreadsheets, so not from the month's budget. Maybe I'll just leave it out in future. Just nice to see balances going down.

Any other tips would be helpful.

Thanks

lizzieloo21

Would anyone be kind enough to send me a copy of the spreadsheets they use (a template / blank one)? As since doing my SOA I have cut back on things like cancelling gym, batch cooking to bring food bills etc however it is the unplanned things, the little trips to shops buying mags, chocolate, things for my daughter that are eating my budget now - I have tried a spending diary but still not writing things down, I have got into the habit of checking account online every morning - but its building the will power, drive, ambition in me to become debt free as so use to it - old habits die hard!!! I have about £6k in total on a 20 month interest free credit card from this month and I really really want to pay it off in that time, as a few months after that my loan finishes too - so although seems a way off I need to be debt free by 2014 so I can consider moving to a better area for better schools as want to move before my daughter starts secondary school as bad in my area.

canidothis

vka1 wrote: »

Thanks Canidothis but I had some money to over pay with from before starting my spreadsheets, so not from the month's budget. Maybe I'll just leave it out in future. Just nice to see balances going down.

Any other tips would be helpful.

Thanks

Extra money in any given month would be added to my income cell - giving me the freedom to spread the money around as necessary without cells turning red

canidothis

lizzieloo21 wrote: »

Would anyone be kind enough to send me a copy of the spreadsheets they use (a template / blank one)? As since doing my SOA I have cut back on things like cancelling gym, batch cooking to bring food bills etc however it is the unplanned things, the little trips to shops buying mags, chocolate, things for my daughter that are eating my budget now - I have tried a spending diary but still not writing things down, I have got into the habit of checking account online every morning - but its building the will power, drive, ambition in me to become debt free as so use to it - old habits die hard!!! I have about £6k in total on a 20 month interest free credit card from this month and I really really want to pay it off in that time, as a few months after that my loan finishes too - so although seems a way off I need to be debt free by 2014 so I can consider moving to a better area for better schools as want to move before my daughter starts secondary school as bad in my area.

Not quite sure my expertise go as far as posting a spreadsheet:)

To be honest I bet everyones spreadsheet look very different and only reflect whats works best for them. I started with listing all outgoings in one column and this includes all detail inc food, fuel and pocket money, in the column to the right I put in a budgetted or exact figure (some outgoings you know the exact figure). Execute autosum at the bottom of the figure column and see if its less than income, if not then start fiddling until it is. Then its all down to willpower and real need to crack the debt problem. If theres a real need to crack the debt problem you will stop buying mags and chocolate - the first and last time I bought chocolate this year I was appalled at the price and ended up buying a finger of fudge at 17p - thats what budgetting and spreadsheet does to you :rotfl:You will go to great lengths not to upset the figures :rotfl:

Angel_of_Tomfoolery

Thank you all for making me feel 'normal'. I have total budget obsession - my OH thinks I'm such a loser lol! Sometimes I just stare at my spreadsheet thinking of where to make savings, just for fun! I record everything we spend and check the bank accounts at least once a day. My OH is finally learning to be more restrained with money. He had a mini strop with me the other day because he was weighing up whether he should buy something or not. He used to just buy stuff without thinking about it at all! He said in a very accusing tone 'YOU'VE DONE THIS TO ME!!!!' :rotfl:

canidothis

Angel_of_Tomfoolery wrote: »

Thank you all for making me feel 'normal'. I have total budget obsession - my OH thinks I'm such a loser lol! Sometimes I just stare at my spreadsheet thinking of where to make savings, just for fun! I record everything we spend and check the bank accounts at least once a day. My OH is finally learning to be more restrained with money. He had a mini strop with me the other day because he was weighing up whether he should buy something or not. He used to just buy stuff without thinking about it at all! He said in a very accusing tone 'YOU'VE DONE THIS TO ME!!!!' :rotfl:[/QUOTEM

Thats so funny - I only wish it happened to us to 20 odd years ago:o We are now going through a very difficult period but funny enough once we come out the other side we might well have the life I always wanted many years ago, which was a simple life with few outgoings and non expensive items like cars etc.
My OH keeps saying 'you and your blimmin spreadsheets' but I will eat my hat if he isnt sat beside me within 6 months showing an interest - it only took 3 weeks to get my 16 year daughter into her own spreadsheet:T

Angel_of_Tomfoolery

Thats so funny - I only wish it happened to us to 20 odd years ago:o We are now going through a very difficult period but funny enough once we come out the other side we might well have the life I always wanted many years ago, which was a simple life with few outgoings and non expensive items like cars etc.
My OH keeps saying 'you and your blimmin spreadsheets' but I will eat my hat if he isnt sat beside me within 6 months showing an interest - it only took 3 weeks to get my 16 year daughter into her own spreadsheet:T[/QUOTE]

I think the gift of a spreadsheet is the best thing a 16 year old could possibly get! All the best for building the life you want

lizzieloo21

I would love to have a budgeting obession to replace my spending obession - and some will power if anyone could send me some would appreciate it :rotfl:

GeorgieFTB

lizzieloo, just keep hanging out on this board, it will rub off on you!!

Gx

timbstoke

Mine is fairly simple – it’s basically just a colour coded bank statement! I use one tab for each account which I can track using a ‘statement’ format, including my catalogues and online bookies. Interest and fees get coloured red, since that’s money that’s just being thrown away. Any cash withdrawals go a lighter red, since they’re not tracked using my spreadsheet at the moment. Bills and transfers are blue, any any other spending is yellow. Another tab brings the whole log together to give me a quick look at a) my current net worth; b) the amount of actual money available to me should I need it, and c) a quick overview of amounts spent in key categories (such as Cash Withdrawals and Fees) for each pay period. All in Google Docs so I can check it on my phone wherever I am.