How far ahead to budget?

pollyanna24

I keep a monthly spreadsheet of all bills and whatnots and what we have spare etc., but just wondered how far ahead do people work?

I have split all non monthly bills as if they were monthly and put money away from them, but I am tempted to start working on June's spreadsheet already (May got done ages ago - I have to resist for as long as possible, but I like to know if there is money left over to be saved as early as possible!).

LandyAndy

My spreadsheet currently goes to 30 June 2008 and I intend to keep it at least 12 months ahead. It may seem a long way but it does let you spot long term trends and lets you include annual payments that you might otherwise miss. How sad am I?

pollyanna24

Not sad at all!! I've been doing this spreadsheet thing (although not so detailed :eek: ) for years now. My bf thinks I'm mad.

All he wants is a piece of paper every month that says how much we now have in savings. The rest is down to me!

immoral_angeluk

I work month to month as I never know how much overtime my Dh would have been paid for.

LandyAndy

immoral_angeluk wrote: »

I work month to month as I never know how much overtime my Dh would have been paid for.

I'm partly self employed so I just put a 'best guess' in for the more distant months the same as you would for things like car insurance if they were a long time ahead. I find that works for me.

Bogof_Babe

LandyAndy wrote: »

My spreadsheet currently goes to 30 June 2008 and I intend to keep it at least 12 months ahead. It may seem a long way but it does let you spot long term trends and lets you include annual payments that you might otherwise miss. How sad am I?

Thank you so much - I had forgotten about the house insurance that is due in July, so have now added it in, thanks to your reminder. My spreadsheet is currently up to October, but I try to keep it several months ahead.

I won't be able to go beyond next April though, as I have to wait for next year's Council Tax [strike]robbery[/strike] charge to be announced :rolleyes: .

mrsspendalot

I have an annual one that just shows incomes and outgoings in total

I then do one month to month split down to each bill and each pay day as we are weekly paid, so some months there are 5 pay days and others 4.

It works fine for us

~evanesco~

Mines done at the minute upto September. I use my basi wages and the month starts from the day I get paid (usually 28th) and any wages I get over this go in a sperate box marked other and are used for any variables in shopping, mobile bills etc. The an excess at the end of the month (usually 27th) gets paid of a debt, this way we don't struggle too much if we have and expensive shop, or unexpected bill.

Evans. xox

skylight

Mine goes upto a year in front.

If I don't know the cost, I estimate it (ie Council tax is GOING to be approx 5% more than this year etc), but it allows me to check out Christmas/Birthdays/holidays. EG - the weeks holiday this year, I have removed the amount of the food budget for that week and put it into the holiday fund.

Even salary is estimated. As OH always gets "some" overtime and using last years records, I have averaged out his wages. In the occasional event he earns less than the average in a month, I can take money from the emergency fund, but can also work out when to put it back again.

As LandyAndy, its great to see whats happening, no great surprises and I can work out when I can afford something.

Storm

I only work on a month basis, partly because overtime varies wildy, and also because I personally do better with shorter-term goals. I used the budget spreadsheet to work out how much I should be putting aside each month and have three accounts - rent & household bills, car stuff and regular spending. To be honest, for holidays I'm saving £2 coins (got about £60 so far) which as it's only me will be fine (having bargain UK camping break this summer) and after the hols will save them for Xmas pressies.