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Budget for the coming year
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datlex
Posts: 2,252 Forumite


I've just finished doing my budget for the coming year. Worked out what is due when. Set up the year's standing orders etc. Does anyone else sit down at this time of year and set up things for the coming year?
Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.
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I do it every month - sometimes more than every month. I'm looking at this month's coming budget ... the last month's budget and how it worked out ... the future budget coming down the line etc.
M.0 -
I use Microsoft Money and I've always run it on a rolling 12 month budget/forecast, so I currently know my situation (barring disasters!) at Xmas 2014.
Been doing it this way for years.0 -
Annual review around pay rise time. Not bothered for the last two years!0
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I've just finished doing my budget for the coming year. Worked out what is due when. Set up the year's standing orders etc. Does anyone else sit down at this time of year and set up things for the coming year?
I prefer paying by DD than SO as it saves me when I don't spot a small change in payment details and so don't get hit with late payment fees etc and many organisations still give discounts for DD payment.
Having to do self assessment, where my companies tax year ends etc it makes more sense for me to do it quarterly but offset from the year by a month (ie Jan, April, July, Oct). Things are fairly stable at the moment so it doesnt take much to do other than factor in the inevitable rise in utility bills etc0 -
YorkshireBoy wrote: »I use Microsoft Money and I've always run it on a rolling 12 month budget/forecast, so I currently know my situation (barring disasters!) at Xmas 2014.
Been doing it this way for years.
I have tried using MS money but I can't seem to figure out how to hide pots of money for things. I used to have quicken years ago which did it but can you do that in ms money do you know as I can't figure out how.[STRIKE]Original Mortgage 07/07 £160000 LTV 100% [/STRIKE]Remortgaged 10/13 £118000 LTV 84%
Outstanding 02/12/14 £107652.40 LTV 76%0 -
I have tried using MS money but I can't seem to figure out how to hide pots of money for things. I used to have quicken years ago which did it but can you do that in ms money do you know as I can't figure out how.
Within "reports", go to "what I have" and then "net worth over time".
Click "customise", then click "account".
You can then untick the accounts you do not wish to display.
That's if I've understood you correctly?0 -
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It isn't so I can hide the whole amount, but so I know if I have 1000 in a savings account how much of that 1000 is saved for car tax, or insurance, or holidays or whatever. So that way I don't spend something I had already planned for something else by mistake.
I think I have found something that works sort of the same as how quicken did and this video helps explain it. I will have to see if I can get a voucher or something to get the software cheaper after the trial if I can set it up so it works how I hope it will.
http://www.youneedabudget.com/support/video/handling-savings-in-ynab[STRIKE]Original Mortgage 07/07 £160000 LTV 100% [/STRIKE]Remortgaged 10/13 £118000 LTV 84%
Outstanding 02/12/14 £107652.40 LTV 76%0 -
I also prepare my budgets and I have my spreadsheets ready for action in 2014.
I finalise everything on New Year's Eve and check my bank and cash balances, and fine tuning my budget.
Although I also check my accounts monthly, my favourite budgeting and accounting time is the one I do on NYE.Not Rachmaninov
But Nyman
The heart asks for pleasure first
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YorkshireBoy wrote: »I use Microsoft Money and I've always run it on a rolling 12 month budget/forecast, so I currently know my situation (barring disasters!) at Xmas 2014.
Been doing it this way for years.
Me too - been using MS Money for years although I believe it is no longer available.0
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