Whats budgeting got to do with Bank Accounts?

I was just wondering, as these 2 disparate entities seem to me to make stange bedfellows with regards to navigating this forum to find what you're looking for.
Further, the Main site says 'Banking & Saving'. That makes perfect sense. They go together. Then, I would expect to see a sub-heading for each. 'Bank Accounts' 'Savings & Investments'.
I post this today, as attemping to find something on the forums, I found it a challenge.
Perhaps I was led astray by the Black Sheep.

«13

Comments

  • Jami74
    Jami74 Posts: 982
    First Post Photogenic Name Dropper First Anniversary
    Forumite
    I post this today, as attempting to find something on the forums, I found it a challenge.

    What were you trying to find? Maybe ask the question and someone will either answer or point you to the right threads.

    Actually I do remember wondering the same thing when I first started budgeting, and wondered why budgeting wasn't linked to the debt free wannabe board instead. Now that I budget with multiple bank accounts and am not in debt I spend more time here than on the debt free wannabe board. 
    Debt Free: 01/01/2020
  • eskbanker
    eskbanker Posts: 29,776
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    I'd agree that budgeting and bank accounts don't generally make obvious bedfellows, but they do overlap in the numerous threads on this board about budgeting apps that link directly to bank accounts!
  • anoukis
    anoukis Posts: 20
    First Post Name Dropper
    Forumite
    @Freebird53: I was wondering about that as well.

    I believe "Budgeting" or "Budget planning" should be a separate board under "Reduce Debt & Boost Income", and the current board should only deal with bank accounts. 
  • anoukis said:
    @Freebird53: I was wondering about that as well.

    I believe "Budgeting" or "Budget planning" should be a separate board under "Reduce Debt & Boost Income", and the current board should only deal with bank accounts. 
    Agreed, very few posts on here regarding budgeting.
  • Jami74
    Jami74 Posts: 982
    First Post Photogenic Name Dropper First Anniversary
    Forumite
    friolento said:

    I am surprised that so many seem to associate budgeting with being in debt. 

    Lots of people have no idea about budgeting until they're in debt and need to learn about it to get out of the debt and avoid it in future. 

    Not everyone naturally knows how to budget or was taught how, even though it seems so obvious and logical once you start.
    Debt Free: 01/01/2020
  • theoretica
    theoretica Posts: 12,221
    First Post Name Dropper Photogenic First Anniversary
    Forumite
    I guess they go together as management of daily money - but of course there are many budgets already shared in DFW without saying they aren't welcome there, so perhaps no need to have it in the name. 
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
  • I wonder if one of the reasons people get into debt is the cashless lifestyle that many lead.
    Today I took a taxi, paid by credit card in the cab.....wasn't given a receipt then....
    I bought a train ticket from my local station ticket office....wasn't given a receipt.....I
    How the hell do people track their expenditure ?

  • RG2015
    RG2015 Posts: 5,754
    First Anniversary Name Dropper First Post Photogenic
    Forumite
    I wonder if one of the reasons people get into debt is the cashless lifestyle that many lead.
    Today I took a taxi, paid by credit card in the cab.....wasn't given a receipt then....
    I bought a train ticket from my local station ticket office....wasn't given a receipt.....I
    How the hell do people track their expenditure ?

    I usually ask for a receipt. But I also get an alert on my phone. If that was not enough I can see the date, payee and amount on my credit card statement.

    The same would be true if I had paid by debit card direct from by bank account. I find it quite easy to track my expenditure. I did though have a problem a few years back when I paid cash. I was forever at a loss as to where all the cash went.

    As I see it the cashless lifestyle makes budgetary control much easier.

    The big problem though is spending more money than you can afford.
  • friolento
    friolento Posts: 846
    First Post Name Dropper Photogenic
    Forumite
    edited 11 October 2023 at 10:04PM
    I wonder if one of the reasons people get into debt is the cashless lifestyle that many lead.
    Today I took a taxi, paid by credit card in the cab.....wasn't given a receipt then....
    I bought a train ticket from my local station ticket office....wasn't given a receipt.....I
    How the hell do people track their expenditure ?


    All my credit card transactions are in my credit card app, the instant I have made the purchase. No need for me to use paper receipts.

    It does take some discipline though to record the purchases in my budget. It's the same discipline I'd have to have if I was using paper receipts - just I can be sure that I won't mislay or lose a receipt. Some of the more modern personal finance managers also let you import your CC transactions automatically, which helps with staying on top of the spending. My Barclaycard also lets me set a monthly limit and warns me if I go over that limit.
Meet your Ambassadors

Categories

  • All Categories
  • 341.4K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.5K Work, Benefits & Business
  • 605.5K Mortgages, Homes & Bills
  • 172.3K Life & Family
  • 246.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards