How do you budget?

KimLouise17

hi all

i really need a budget that i can stick to

in the past i have always done a months budget by writing down the days, whats coming in and out and how much should be in my bank, but then once one days spending changes it all seems to go to pot and i just cant rectify it!!

can i be nosy and ask how you do your budgets, im not great with the whole spreadsheet thing and would prefer it to be written down

thanks in advance

anoncol

I used phone and desk top software called money manager ex. Does graphs and everything too, very powerful.

kensiko

I know you said you aren't great with spreadsheets but personally I find them to be the best to keep up to date with incomings and outgoings. I have used in the past http://www.youneedabudget.com/ but I still prefer the old fashioned way although this software does get rave reviews if you do a search on the forum for it.

mrssjs

I can create complex Excel spreadsheets, however I have a very basic 12 month forecast which starts with payday, takes off all expenditure in the month, has a sum at the end of the month, line under and start again for the following month's payday. All you need is the "sum" formula.

katejo

kensiko wrote: »

I know you said you aren't great with spreadsheets but personally I find them to be the best to keep up to date with incomings and outgoings. I have used in the past http://www.youneedabudget.com/ but I still prefer the old fashioned way although this software does get rave reviews if you do a search on the forum for it.

Look at the debt section of MSE. There is a discussion just about YNAB. I started using it last summer and it really works well. I didn't have debt but just wanted to organise my spending better and save more for particular projects. It is working well. There is a free month trial before you pay anything.

NotRichAtAll

I use a simple excel spreadsheet suited to my needs, do i budget? i guess i do i pay my bill's each month i know what i have coming in i know what i have going out, the surplus is mine to do what i want with be it save or spend. The main thing YOU need is will power to keep within your limits once you master that the rest is easy. as for writing stuff down a spreadsheet is just that your daily written down stuff entered onto a pc

Semple

NotRichAtAll wrote: »

The main thing YOU need is will power to keep within your limits once you master that the rest is easy.

NotRichAtAll makes the best point here. It's no good being able to budget if your will power allows you to keep overspending - although you'll at least be able to see where it's all going.

lufc7

We use different accounts as pots so to speak, ie one contains food money, another car funds (mot , tax etc),DD,s and a few others for different savings. Once we are paid money is paid into each account (pot) then what is left over is our spending money (money that can be spent without consequence so to speak) we have done this for two years now and has really help our budgeting. Hope this gives you food for thought

anotheruser

Earn all you can.
Save all you can.
Give all you can.

This is the only mantra I live to.
I also add a lot of boring things to Amazon wishlist for people to use instead of me buying them myself.

bouicca21

I can't be doing with spreadsheets either. I add up essential expenditure for the year - car tax and insurance, TV licence, projection for utilities etc - divide by 12 and put that amount in a separate account each month. What's left is for food, clothes and entertainment.

At one point when times were tough, I had a notebook and wrote down every single outwards transaction so that I could see exactly where the money was going.

ally18

Simple, no need for spreadsheets, a small pocket book (10cmx15cm) that can be carried around in a bag is all you need.
Front of the book is for your yearly and monthly expenditure ie
DD
Water Rates
Gas & Elect
Council Tax
TV/bb
Mobile
Mortgage

House
Food
Petrol
Going Out
Annual Bills
Car Tax/Rescue
MOT
Service
Car Ins
House Ins
TV Licence
TOTAL DIVIDED BY 12

Extras
Xmas/bdays
Holiday
Emergency
Save
Income
Expenditure
Left over




At the back of the book, each single page is a month ie
Food
Petrol
Going Out
Bills
Emergency



My advice is to write everything down as you spend it on your monthly page. It is so easy to keep track this way and each month/year you see what your expenditure was. My little red book has been going since 2008 and I have never lost track of my budgeting this way.
It also helps to set up different accounts so you can transfer money into each ‘dept’ when you get paid too.
I put all my ‘Extras’ and ‘Annual Bills’ into an ISA, the DDs are in one current account and the house money stays in another.

Hope this helps.