How to make and keep track of a budget?

@jolala (70)
United States
January 5, 2007 10:34pm CST
Help! We really need to set a budget and stick with it. We know how much we have in expenses and we know we're making enough to more than cover those expenses. But we're horrible with spending money on "extras." We've decided we're going to stop buying things that are not "needs" and get ourselves back on track now before things (debt) get out of hand. So, any advice?
3 people like this
4 responses
@mgmagana (3621)
• United States
6 Jan 07
i'm in the same boat, for us we should have like 800 dollars left over each month, and i figure 150. a wk. for necessecities, whether it's food, diapers etc. that should leave us with 200 a mo. left to save, but it's just not working out that way, sometimes, i'm overdraft, so i will take any advice as well!
3 people like this
• United States
17 May 07
keep receipts for all expenses and check them everymonth you will find the frivolous expenditures. I would do this once amonth with your significant other and together you will improve your budgeting.
@eaforeman6 (8983)
• United States
6 Jan 07
this could be a long topic! if everyone offers advice, then we can all exchange ideas. well , one area that really helps is learning to how to save on cleaning supplies like using vinegar to clean.Its great for bathrooms and glass. The dollar savings add up. The freebies sites are great for samples and free products that help stretch the budget. Lets keep adding to this list!
2 people like this
@jolala (70)
• United States
6 Jan 07
Great idea! I'm already a "bargain hunter" and do what I can to try to save money. We just spend it on things like eating out, toys for the kids, toys for us! Haha! We've already cut back on the eating out. And we took care of the kids' toy problem by telling them not to ask for anything at the store. They will get things for Christmas & Birthdays & select special occasions. They're 5 & 3 and they're doing pretty good with sticking to that.
1 person likes this
@Shaun72 (15968)
• Palatka, Florida
22 Feb 07
that's a good idea. I am trying to do the same thing myself .
• United States
17 May 07
I made an excel spread sheet use the workbook On page one do all the good things income. Bank account balances go here and any investments go on page three. on page two do all the bills charity entertainment On page three do all the assets, land, investments, automobile, real estate. The first couple of these will not have all of it covered Keep track of all expenses every month and correct your misteaks as you find them. This will allow you to see where your money is going and budget appropriately. Keep all receipts and get a receipt for all expenses and really track each month where it is going and correct your budget. Subtract your monthly expenses from your income and the remaining should show up in your bank account. Also the last page should show debts subtracted from your assets value to give you your current net worth. This will help you decide if you are moving forward or back. Include retirement accounts here as well Keep a running tally of all and you will have an accurate reflection of your budget.