We took Dave Ramsey's Financial Peace course a few years ago and stick with a budget each month for each category, such as groceries, eating out, insurance, clothes, etc. It has really helped us track how we spend and keep ourselves in check.
Loriamoore, I am a tax ELP for Dave Ramsey. Financial Peace is a great program. Stick with the program, it really works.
I have a budget which gets modified on occasion, but for the most part we stick to it because we have to. I love numbercrunching and most anything to do with numbers, so I enjoy working on our personal finances.
I actually recently purchased Dave Ramsey's "The Total Money Makeover" but haven't opened it yet - does anyone know if his Financial Peace program is discussed in it?
BTW, what's a tax ELP?
I did (because I would be in constant debt without one) However, my ultimate new years resolution was to make more money so that I would not need a budget (which is why I'm looking into online businesses)
I do not like to live within the structure of anything much.
I buy whatever I want to eat own the things I want to own and have sufficient to do so. I am not extravagant, careful with water and power, fuel etc., but for environmental reasons not budget constraints. If I want a bigger lifestyle I will need to make or spend more money. I have not worried about money for many many years. It is just a commodity to me.
I'm with you on this... I'm forutnate to make enough money that I don't really have to budget, but I don't go out and spend just because I have it either...not often anyway.
What a great idea. Lots of people are doing it real tough, it's good to know people are planning their finances. If this was done 10 years ago instead of credit card misuse it may not be so hard to make ends meet.
Got sort of a budget in my head, not on paper (or in the computer).
Budget = 1. Get $. 2. Spend $. 3. Don't bounce any checks.
I create a new budget every year based 2 years of actuals for my company and a more relaxed one for personal use
Yes! But then, I always have...my entire life...except for the five years I was with my ex, because everyone in the house has to be willing to work within the budget and to communicate expenditures and such to the book keeper (that'd be me). He never did seem to get that if you don't manage your money it doesn't really matter how much you make, it'll never be enough. For some people, simply buying what they want and no more is enough money management, but for an entire family on a small income it HAS to be monitored. Now our budget is fairly modest, but it keeps us from those occasional overstepping the bounds when we can see what we've spent and where money still needs to be spent. Those few dollars here and there going over, or that one thing you forgot about before you spent your money on something extra, can be pretty disastrous in the long run.
No. But simply because I have no idea how to create a financial budget.
To make money you have two options: Save or Make More!
With my shopping addiction and with the kind of profession I work in, saving is an impossibility; ergo I choose to Make More
Oooh, I must write a hub, I think.... The biggest thing to remember is that you're not budgeting for the month, you're averaging out for the year, and there are a ton of little expenses people tend not to think about, but monitoring your spending can help you identify and plan for those.
Absolutely agree, karina, about the emergency fund. It's funny because just when my husband and I get a little bit ahead with our efund, we have an emergency. We laugh at the irony, but then again perhaps we would crying if we did not have the fund.
And yes, we do also have a budget for this year. It's actually kind of fun to sit down and talk through where we want to apportion the money the LORD has given us. We negotiate, haggle, compromise, and BOOM! We have a budget!
Back when we were just married, we had to keep a budget because there really wasn't enough money to go around. We haven't been in that situation for many decades.
That's not to say we waste money or have large amounts of it. We're frugal. We own one car and our TV is ancient. We seldom eat at restaurants, do not travel, and find our pleasures in simple things, and with that, there is no need to budget.
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