Balancing a budget


M

Marthy

World Most Bad A$$ 6R
Elite Member
I spend a bit of time working on my budget spreadsheet so I can have a better view at my financial situation. I never really bother doing a budget before... kind of speeding as less as I can.

So after throwing some numbers in there I came in one conclusion...

Either my spreadsheet is wrong or I'm doing something wrong! Where the $$$ all go??? I didn't add the extra income I pull out every now and then but still, I should have plenty of extra for entertainment, get a new car, bike or just pile away for a house.

So what is your trick? I can't figure out what I'm doing wrong here... :facepalm:
 
R

Rabbitman109

Lumen Junkie
Elite Member
I have mine separated by week since we get paid on a weekly basis. I make strict allowances for gas, groceries, and what not. It gives me the total amount per week, and the rest I dump into a savings account. Maybe $20, $30 or $70 here and there, but it adds up. If I want to pay extra on something, I show that payment multiple times a month, and spread it around. Sometimes it is just seeing the total per pay period that helps. If you need, I can send you a copy of the spread sheet that I use later.
 
RooKie

RooKie

New Member
I would be able to give advice, but I received a notice from the bank this morning telling me my account has been overdrawn... :facepalm: I find it so strange how there's so many of us that make decent income and yet have nothing left at the end of the month...

I would think that balancing my budget could help... but it wont change the fact that I have bills to pay and they're sucking up all my dough :(

My only consolation is riding my 6r... cheap maintenance, low fuel consumption, and tons of fun.
 
Y

yfz6r

New Member
Minimize the monthly bills if things are coming up short. Local TV is free. Home phone is cheap with magic jack (that thing works believe it or not!) A smartphone is a guaranteed extra $15 a month, usually more. Don't ever eat out. Don't drink. Shut the lights off, etc.

There are so many things that reduce bills. Cut down on whatever you can but still live happy.
 
M

MNGreg

waiting out winter
Elite Member
I agree.. I should be able to stash away a good amount every month, but somehow I always find that I am short and having to go into that savings amount... I think I am spending more than I am really figuring on entertainment and eating out..

Gotta learn to limit eating out to 1x every 2 weeks at most. Limit my entertainment money. Put multi-flow valves in the toilets, start turning off lights more.. raise the temp maybe 2 degrees! UGH!! As mentioned about smart phones - I think when change phones next time wife and I might have to look at feature phones again and not smart phones.. Cant believe I am paying $140/month on cell phone service. I will miss tapatalk and some other features but that cost is insane! I could cut a year off my car loan, or seriously pay down other things.. or more savings.
 
M

MNGreg

waiting out winter
Elite Member
yfz6r said:
Minimize the monthly bills if things are coming up short. Local TV is free. Home phone is cheap with magic jack (that thing works believe it or not!) A smartphone is a guaranteed extra $15 a month, usually more. Don't ever eat out. Don't drink. Shut the lights off, etc.

There are so many things that reduce bills. Cut down on whatever you can but still live happy.
Click to expand...
When I google Magic Jack I read LOTS of bad things about customer service issues. I have Vonage for $17/month, but would like to shave a little bit. Does it work with fax (printers/Dishnet. boxes)? Mostly use our home phone for "screening", if a place asks for a #, that is the # we give them. Also use though for faxing FSA Claims, and the dish box that doesnt have ethernet built in.
 
J

jamesgarfield

New Member
Crackers and peanut butter FTW...
But in all seriousness, when grocery shopping, do store brands /namers...Similar quality in food at a fraction of the prices. I ended up cutting my grocery expense from a hundred per week to seventy. Making steady payments as opposed to fluctuating on your liabilities is another way...pay those high interest loans down. Lastly, be a single recent grad haha jk, kinda
 
J

JSP

Super Moderator
Same here... Triple your entertainment and food costs.. I was so low it was crazy. Add up all the fast food, going out to eat, movies, etc. They add up QUICK! Those are the biggest things that we are not truly accurate on. Clothes, shoes, shit you just say "I want that" on... Big changes coming though! Time to cut waaaaay back for me.

I like the idea of taking out cash for certain expenses. When it runs out, thats all ya got for the week/month or whatever.
 
J

JSP

Super Moderator
FZwhite said:
Anyone that wants the sheet that I use, just let me know, and give me your email and I will send it to you later tonight when I get home.
Click to expand...
PM coming!
 
M

MNGreg

waiting out winter
Elite Member
jspansel said:
I like the idea of taking out cash for certain expenses. When it runs out, thats all ya got for the week/month or whatever.
Click to expand...
I LIKE this idea!!! Maybe something out of first check and that is all my entertainment/eating out/bike accessory-gear $ for the month.. When gone, no shuffling allowed..
 
M

MustGoFaster

New Member
I let the wifey handle the business end of the budget. (She's a DM for a financial-related company, so she's got a good head for that kind of thing.) I'm mostly there for moral support and to stop her from reckless spending, LoL. I'm not talkin' little things here and there, I mean large, multi-thousand dollar purchases, heh.

But my own finances? I just don't spend any money, hahaha! No literally, I take the bike whenever I can to cut down on gas, don't eat out, cut back on drinking, smoking, etc. I just pay bills, and every once in awhile we'll go out to eat, movie, mini golf, etc.

The REAL challenge is gonna be when we move back to Chicago in 2 weeks... That's gonna be rough...
 
D

DragonBlu

Member
Marthy said:
I spend a bit of time working on my budget spreadsheet so I can have a better view at my financial situation. I never really bother doing a budget before... kind of speeding as less as I can.

So after throwing some numbers in there I came in one conclusion...

Either my spreadsheet is wrong or I'm doing something wrong! Where the $$$ all go??? I didn't add the extra income I pull out every now and then but still, I should have plenty of extra for entertainment, get a new car, bike or just pile away for a house.

So what is your trick? I can't figure out what I'm doing wrong here... :facepalm:
Click to expand...
The government is getting it all Martin. Don't forget to add a column for them.
 
J

JT

Monster Member
Elite Member
RooKie said:
I would be able to give advice, but I received a notice from the bank this morning telling me my account has been overdrawn... :facepalm: I find it so strange how there's so many of us that make decent income and yet have nothing left at the end of the month...

I would think that balancing my budget could help... but it wont change the fact that I have bills to pay and they're sucking up all my dough :(

My only consolation is riding my 6r... cheap maintenance, low fuel consumption, and tons of fun.
Click to expand...

Same here. make tons of dough and yet cant figure out how I get so low on cash.. numbers dont add up even though I plan / budget every other week
 
M

Michael Wilson

New Member
yup same here. i try to take out like $50 a month to put aside for my bike in terms of mods and such. other then that its all bills =(
 
M

Marthy

World Most Bad A$$ 6R
Elite Member
M

Marthy

World Most Bad A$$ 6R
Elite Member
MNGreg said:
I agree.. I should be able to stash away a good amount every month, but somehow I always find that I am short and having to go into that savings amount... I think I am spending more than I am really figuring on entertainment and eating out..
Click to expand...
Like that idea a lot. So first pay check get wack by the rent... but the second one (payed by-monthly) I could put a x amount that we both agree in a "Entertainment Envelope", when it's empty we stay home!

I cut in the fat as much as I could when she started school 1 1/2 years ago. But there's got to be a way of managing my budget a bit better...

Thanks for all your advise. :thumbup:
 

B

Blue-Sun

Elite Member
I use magicjack for my home phone, it works GREAT...

I also use tracfone for my cell phone service. It averages about $10-$12 per month. I try not to "yak" too much on my cell phone and mostly text with it. If someone needs to really talk, I tell them I'll call them from the magicjack when I get home.

Like others have stated my biggest expense is my Federal & State Income tax burden. I was working on my 2013 budget and have come to the conclusion that I have to rent a cheaper apartment, so I can pay the proposed tax increases for next year.

And Yes, I do a budget every month and spend my income on paper before I receive my paychecks. I strictly adhere to it and sometimes I want to go do some "fun" stuff but have exhausted my entertainment budget, so I go for a ride instead.

If you fail to plan, then plan to fail... (especially in this economy)
 
You must log in or register to reply here.


Top