do you have a budget and follow it...

[ParNone]

I don't have an official budget or accounting system, I keep a running total in my head of what I have and how much I spend and I always keep a certain amount of float in my account just on case I miscalculate something. I have however over the last 2 years, been changing my spending habits. The horrendous shape our economy is in, has me worried about ever being able to retire, so I figure I need to be saving, saving, like mad.

Here's my list of spending changes:

1.) Pay off my credit card every month - ~$50 savings a month in interest
2.) Paid off my car and that money goes to savings automatically every month - ~$400 a month
3.) No more eating/drinking from vending machines or fast food - ~$350 savings a month on food
4.) No more going home for lunch every day - ~$100 savings a month on gas
5.) Converted over all my phone/cable/internet services to where I pay less, but actually have more services now - ~$150 savings a month
6.) Refinanced my mortage at a really low interest rate, so my house payment is essentially the same, but with a 15 yr vs 30 yr loan. Amazing amount of equity in my house in just 5 yrs now vs what piddling amount there would be if I still had that 30 yr loan.

So that's approx. $1000 savings a month. Next on my list is seeing if I can widdle down my electric bill. I could still cut back on entertainment, but that's a last resort. I'm sure Suze Orman would have me cutting back on that too, but one has to live a lil'.

Par...

[carole]

I am finding this really interesting to read, thanks for responding, and Donna you always make me laugh, i too was just like you and still want to be, no budget suits me fine, but i have to at the moment otherwise we might be in the pooh,but it is so tedious and no fun is it?

I agree you have to live a little you only have one life to live, and it should not be miserable all the time, so sometimes we indulge a little where we should not, but i always keep it at a minimum.

Today i am going for a look around at the shops in the mall, i will have to curb my spending,but i am going to pick up my new shoes on layby, you call it layaway i think over there,but it does fit within this months budget for clothing,i just bet today i will find the perfect top or something and blow the budget lol.

[Husky_mom]

I have not read fully what catlady posted.. but I had to reply or I´d forget

I have a similar thing.. haha.. I "have" a basic account (in my head of course).. but I actually have like 20 others which I have to have in mind to split money into..

I have added a couple more to that since I joined here.. hehe

I usually divide them for:
dog/bird food
insurance
school
one store credit of my own.
debts (which actually are for me but that way I make sure to pay me LOL)
extras (emergencies of any kind)
savings (this has 3 subaccounts :P)
and what I get from vacations and savings from work (which usually are for christmas gifts)

newly added
swaps
camera fund

the rest hubby pays LOL... but I too try help every now and then specially with electric, water, gas, gasoline..

I would love to get a computer program to get all my "accounts" sorted.. because I´m thinking of getting paid by debit card.. and I KNOW if I have the money there..well... it´ll be as good as spent..

[chocolatepuppy]

I'd be embarrased to post the way I keep track of our spending. Catlady, I am amazed at your budgeting! Good for you! I will have to reread all of these posts and take some hints.

[Catlady711]

Shortly after hubby and I got married it was determined that I was the better one to handle the checkbook and I have been doing it for decades. In our early years I, too, worked with "imaginary numbers" in the checkbook. That little system used to drive hubby crazy because he never knew our real balance. LOL! He would never be able to understand your system Catlady!

Well to be fair to hubby, the amount written in the checkbook register is actually the correct amount. It's just that to figure out what is alloted for each catagory you have to check the computer or one of the post it notes in the checkbook. I don't know that anyone could sit down at my cpu with the paychecks and figure out how to do the budget the way I do and that does worry me at times. If I could just figure out a simpler way that would satify my need to have every catagory separate and still be understood by everyone it would be better, but so far this is working.

Catlady, I am amazed at your budgeting! Good for you!

Thank you! Now if only my hubby would agree with that. lol

Next on my list is seeing if I can widdle down my electric bill. I could still cut back on entertainment, but that's a last resort.

I can't say all of these ideas work or are a good thing even (some are kinda whacked at times), but the majority of stuff on this website are great money savers. http://www.stretcher.com/menu/topic-d.htm#energy