How do you stay within your budget?

[chicknerd]

Quicken or some other computer money manager. Use it for a few months and you will really see where you money goes. It also helps with budgets and keeping track of tax expanses.

And I do keep a copy of the actual document on a thumb drive in case the computer crashes.

 

[Cowgirl71]

The more you use cash the better. When I use a credit/debit card, it doesn't really feel like I'm spending the money. When I have to dig into my pocket and count out cash, it makes you more aware of every dollar you spend. One good way to save money is to eliminate satellite/cable TV. We don't have any TV channels. We watch movies (we like to trade with friends so that there's always something new to watch). It's much more enjoyable to watch movies without commercials. I also like being able to watch movies for free on youtube. I just watched Pearl Harbor yesterday, and it didn't cost me a cent. Youtube doesn't have all of the movies, but it has quite a few! I've saved well over a hundred dollars by watching them on there rather than buying them off of Amazon or renting them from Blockbuster. For world news, we just look it up on the internet, if and when we want to.

 

[SparksNV]

a couple of thoughts:

pay cash, put away debit card

if it is a nonessential item, i think about the price and how many hours it takes me to work to pay for that item. so if i earn $10/hr and the item costs $30, is it worth 3 hours of my time at work to pay for it?

save a percentage of $ but also have a little "allowance" to buy anything without accounting for it. maybe $10 per week - you can buy 10 packs of gum, a mocha and scone at starbucks - just anything and not feel guilty about it.

every week look at your accounting and see what you did right.

have a goal in mind - save X amt of $ in 1 yr for a vacation. i calculated how much money i wanted saved up for our 2 dd's to prepare for incidentals for college and a used car for each of them. I opened 2 savings accounts at the bank and put $ in it without fail every paycheck.
Taylor 6 yrs til grad = 6 x 52 wks/yr divided by total amount wanted saved = $ per week in account.

with olivia, she was 8 yrs til grad so her weekly amt is less (longer to save)

i am very proud of how much has accumulated towards that goal.

good luck!

 

[halo]

Some great posts and ideas on here. The bottom line is, be accountable for every penny. KNOW where it goes. I get paid every Friday, and I put on my calender, right by my computer, where each penny is going. So much for this bill, so much for that bill, x for feed, x for gas, x for food, x for savings/ira (never forget that, and always do it, even if its $10). That way each penny is accounted for. I do all my bill pay online, so I set it up ahead of time and it will come out on that Friday. You can do it, and once you start, you find yourself really getting into that habit, a GOOD habit, of accountability. And start asking yourself, do I really NEED this? Most of the time the answer is no. I ask myself, do I really need this, or do I want to put that money in my IRA (which is in dividend stocks). Im opting for the IRA 99% of the time.

 

[swift4me]

I could never keep organized to see where I was at. It is so much simpler if you do it this way...

The next time you go to a store, (not going to the store in the first place is better), when you pick something up and think you need it, stand there for a minute or two with it in your hand, and ask yourself over and over if you really need it. The answer is almost always no. I'm an avid woodworker and sell my work, but still I use this technique.

As Americans we have all been taught that we "deserve" to have the things we want. It is very simple if you go around with the attitude that YOU ARE BROKE AND THIS STUPID LITTLE THING IS SOMETHING YOU CAN LIVE WITHOUT. Pretty soon, your bank account looks a little better.

Pete

 

[Beekissed]

I have been doing it for so long that I don't really think about it nor have a method or plan. I just don't buy things unless I absolutely need them.

I cut back all electric usage that is unnecessary...my bill runs from $17 in light usage months to $47 in heavy use months. CFLS and power bars to shut off phantom loads from appliances.

I heat with wood. I grow a lot of my own foods and can them/store them.

I don't have a cell phone or cable/dish TV~time wasters and non-essential no matter how one rationalizes it.

I don't have a credit card nor buy anything on credit. If I don't have the cash saved for it, I don't buy it.

I make my own laundry detergent.

I rent a house close to my work place and my rent is reasonable. I'm out in the country, so I don't have to pay city water or septic.

I dumpster dive for recyclable materials and things instead of buying them. I've built many things with free stuff and it is both functional and not bad to look upon.

I eat healthy to keep health care costs down and food costs to a minimum.

Read books instead of running to the movies...the library near me also has many, many movies to lend.

I make things last, repurpose things, repair things instead of buying new.

Make my own bread and most of my foods.

When I get any extra money I try to do God's work with it and give it away cheerfully. God states He loves a cheerful giver and that it will be returned to me many times in full measure, shaken down and running over. And it does! Just when I need a helping hand God sends me one.

Not exactly what you call budgeting but it works for me and I don't have to worry anymore.

 

[maggiemooscluckers]

Groceries = Started using the Grocery Game on the computer. I make my list using this web site and buy almost nothing that isn't on sale and with a coupon. I'm able to stock up on many things while they are on sale. I even get lots of items for free. It isn't unusual to get $250 worth of groceries for $50. My freezer and pantry are always full and I am able to share with others by doing this. we keep our electric to a minimum by using the clothes line instead of the dryer and by running a fan instead of the airconditioner. We live in the desert of AZ and our highest bill last summer was only $107. I'm more willing to be a little warm than to give into bills of $250 +. Same for in the winter. It's okay for the temp in the house to reach 65 degrees. We just wear warm socks, sweatshirts and sweatpants. It can be done! You just have to be willing to sacrifice. Getting the priority straight is the issue. Do you want the security of knowing that the $$ will be there when the bills come or are you one of those that will turn the airconditioner on in the winter because having the windows open won't cool the house fast enough! Or maybe you fill your glass full of milk and then only drink half. You really have to guard against being wasteful. We don't and have never had cable tv. If it isn't on the networks then we don't watch it. We do pay for the internet for our business so we find lots of entertainment options there. Backyardchickens is my favorite place to play! I also don't have anything in my closet other than my 3 year old pair of tennis shoes that wasn't second hand. I always manage to be able to dress appropriately no matter what the occasion. Same goes for the DH. The chickens get a lot of treats, leftovers and garden scraps to help offset the feed bill. We are able to live with one car, one cell phone and very little eating out. McDonald's is a treat around here since we don't do it often. Even then we choose the dollar menu and share the fries and drink. I have a budget that has worked for me for years. I list out every bill that we have and every week when I make a deposit I place the given allotment into each account. When I look into the main account it might say $10,000 but I know that I really only have $200 available because the rest is designated to the individual funds. By doing this I know that when the house insurance or some other bill comes the $$ is already in the account just waiting to go out. It really gives me a sense of security and I never have to worry about paying bills because the $$ is always there.

 

[halo]

On CNBC (channel 208 on Dish), Saturday nights, from 9-11, are 2 very very good financial shows. The Suze Orman show, and Til Debt Do Us Part. I dont ever miss them.

 

[mandelyn]

It takes a lot of mental training! Look at all your rituals, habits, ect and see if they are really worth doing. I used to spend $20 a day to go to work. By the time you have morning starbucks, snacks, and lunch out. Depending on your pay... is it really worth it? After doing the math, I had to work 2 hours just to pay for going. I got it down to a half hour, $5. Using my after taxes amount.

Rationalizing spending based on price is silly. But the shirt is only $19! It's normally $54! Do you even need the shirt in the first place? If you have 7 shirts for each season in your closet, you do not. Just do your laundry once a week with home made detergent.

Now when Kroger's does their 10 for $10 sale, get there. But only buy what you normally would or what you would like to try. Price does matter on food. You need food.

Here's the thing about food though. Most of the cost you're paying is for the packaging it comes in. The pallet is shrink wrapped in plastic, plus the cost of the pallet it sits on. The case it's in, the plastic around that case. The box it's in, plus any packets/plastic that goes with it. Plus the charges to get it to you. You know the stuff that's located right smack in the middle of a display? That costs money for that spot on the shelf which is why the name brands are there. Compare ingredients, go with the healthiest, cheapest option.

Many health food stores have bulk areas for things like grain, flour, beans, ect. Not only is it natural or organic, but you're not paying for packaging either. Actually put the time in to cook. Avoiding cooking or just not learning how to, really reflects in food costs.

Utilize local markets, we have a produce store around the corner. I can get all the veggies and spices and what not I need for 2 weeks for $26. Some of that is mark down tomatoes for the chickens. $0.99 for 5 of them, that's $0.20 a day to give the chickens a treat for 5 days.

If I bothered to learn how to can/preserve, I could go down to the river docks and get a whole case of fruit for pennies each. Where do you think the produce stores get their stuff? Look around for the markets that service the stores and restaurants, forget Sam's club and Costco for food items, actually do the per ounce cost and you can load up at other stores cheaper when they have sales. Some may not allow private consumers in. But many do, since fruit/veggies have a deadline, they need sold ASAP.

Pay attention to where stuff is made, and what you want to support. Some things are worth paying slightly more for depending on what you care about. Big corporations out source, we all know this. Where things are made varies. Take for example, Clorox Clean-Up. Made in USA. But not if you buy it at Family Dollar, sometimes it comes from Mexico. I buy it when it says Made in USA even if it's $0.20 more. Same brand name! Read the label every time on every bottle, support the USA and it's economy. If enough people do it, marketing/sales/production/packaging... the whole system will need to make changes. "Packaged in USA" means they made it somewhere else and brought it to the US to make it pretty. So you're then paying how much to make it pretty?

Garlic cloves, California or China? The pack of 5 prepackaged is usually China. The loose in a bin is usually California. I'd rather support California and migrant workers than China. Usually it's cheaper to support California.

To train myself, I looked at every purchase and payment as life or death. You have to think of it that seriously to be able to treat it seriously. If you don't take it seriously, you'll change for a week or two and relapse. Can't tell you how many times I have relapsed. I was bad about fast food, junk food, not cooking, buying cause it was cheap, putting off bills, using credit cards on things I didn't need.

Do I really need this candy bar? It's only $0.59. You'd think that doesn't matter. Really... that one candy bar doesn't. But let's call it... gateway spending to bigger no-nos. If you start rationalizing, making allowances or excuses, you'll relapse. You can't do this during your training, you have to wait until you have good solid spending habits. Then by all means, get the candy bar. All play and no work sucks. But, so does basic training. Everything is taken away, so that later on, rewards are even better than they were before.

You can go out to eat 3 times a week for 2 for $20. Applebees 2 for $20... marketing schemes like that make it possible. Well, that's $60 a week, which is $240 a month. Stop it! Save $140, and have a once a month date night for $100, dinner AND a movie with the big popcorn! Top off the gas tank with any change left over so that you don't put it into a soda machine or worse.

Always pay in cash, I do it this way. All bills come out electronically. Then we get our cash allowance. By spending in cash, you get change. Take your $1 bills and smaller (or if you've gotten really well trained, $5 and $10 bills, and put them into a change jar. Whatever money is left at the next payday in the bank account, that goes to savings. Most people like to do savings right off the top. I prefer to see what I have left after spending and get all excited about it and then hide it to watch that number grow. Leave that change jar alone, you'd be surprised at what it can add up to.

I knew a guy that took one of those 5 gallon water jugs and buried it in his yard. When he couldn't fit any more bills in, he dug it up. Took 5 years. He went and paid cash for a brand spanking new Dodge ram Pick-up truck. Didn't gain a monthly payment, didn't take away from his usual savings. By hiding a little bit of money he didn't need, $5-$10 a time, he bought a brand new truck without hurting himself financially at all.

Food is easy to cut costs on. Stop buying packaging, and learn to cook with a lot of veggies and grains. Price every store within a short driving distance, make a plan for who has what and when they run sales. One stop shopping costs a lot! I get veggies at the produce store. Grains and what not at Whole Foods. Dog food at Petsmart. (surprising, right? I looked at quality versus cost per pound), bread from the discount bread store $10 for 8 bags of the good stuff! (Usually $2.49 at the store!)

I could go to Walmart and spend $180 and be done with it. Not too bad. But it's Pedigree for the dogs and packaged garbage food and Chinese garlic cloves for us.

Or I could spend $25, $30, $48, $10, and $20 plus $15 in gas and be at $148 AND have quality dog food, and healthy, natural food for the people. Gas isn't actual consumption, that's what it takes to top off the tank after other errands are done. In and out, with a list, whole process takes 2 hours. So spending and eating habits changed for the better.

I make my own green tea drinks for $0.80 a gallon. 3 parts tea, one part Welch's White Grape and Peach juice. No preservatives, nothing artificial. Brew the tea in a coffee pot by putting an empty coffee filter in, and 4 tea bags in the pitcher (for a mild version) and letting it stand for 3 minutes. You know green tea loses all it's health benefits after 7 days? Even safe and secure in a bottle? Breaks down, no air needed. By the time you get a store bought packaged bottle of green tea, after all those chemicals were added... it's been way longer than 7 days.

Always look for alternatives, different sources, and things you can do yourself. Make a plan, stick to it, don't make excuses, allowances, or rationalizations. Train yourself!

 

[Mac in Wisco]

I keep a very simple spreadsheet that is basically a checkbook register. Most of our income comes in monthly, on the 1st of the month.

I have one column that is debits and another for credits. At the beginning of the month I start off the debit column with all of our regular bills for the month, plus any money that we need to set aside for non-monthly items such as quarterly insurance payments, annual tax payments, Christmas, etc. In the credit column I enter our incomes.

I sum the debit and credit columns, and then subtract the debit from the credits to give me the amount that is left over after ALL of the regular bills are paid. I then tell the wife what we have left over to spend for the rest of the month. We then talk about irregular expenses for the month. "Well, there are a couple of fundraisers in town that we want to attend and so and so's birthday is coming up". We make a note of these things as we head into the month.

About once a week I log on to our bank's website and add any new transactions to the spreadsheet and update the wife about how much money we have left until the next payday.

We generally don't track every nickel and dime, but keep track of where we are at throughout each month to make sure that we don't overspend our income. Sometimes we have money left that is carried over to the next month and sometimes we come up a little short in the last week of the month, where we just don't have any extra money to spend and we patiently await for payday.

I also keep a small section on the monthly spreadsheet that tracks our savings account. We keep money there for the irregular payments, like quarterly and annual payments for insurance, taxes, vehicle registrations, vehicle maintenance fund, a small medical fund to cover co-pays, Christmas, an emergency fund, back to school costs, clothing, etc.

The trick is to forecast your actual expenses so there are no "surprises" that leave you short at any given time; e.g., back to school shopping, annual vehicle registrations, or Christmas are not "surprises" that you should have to scrounge money for, possibly coming up short that month.

Things aren't extremely tight for us, we make enough to cover our expenses, but there is little left over for frivolous purchases or hobbies. We make it work because we "level out" all of our expenses throughout the year.