How do YOU budget money???

[jajababy]

One of tips, is to get an American Express card if you have good credit. I like AE because of their award programs. I only use my AE for necessities. I pay all my bills with that card ie, phone bill, other credit cards, utitlity, rent. The logic is those are bills I have to pay regardless so I might as well let my money work for me. I'll just pay my AE right away. So techinically it's doing me justic x's 2. I am improving my credit and I am getting rewards for using my AE.Also, I calculate how I can spend on food thing like that. The problem I used to have with using my debit card to pay for meals, it's hard to monitor how much I spend. Before I knew it, I spent at least $300-400 in 2 weeks. So now, I would take cash out of my account and spend that on food and that way I am mindful how much I spend on food. Also, I get paid twice a month. I noticed that I spend majority of my check before the end of the first week. So what I try to do is NOT spend any money that does not need to spent until the second week of my check. Like someone said early, get a savings account that is different from your regular savings account and make sure you don't have any checks or debit cards for quick access to the account. Also, a tip one of girlfriend's gave me was to open a CD for a year. Have them automatically withdraw funds out of your account. I want them to take out at least $50 a month from my account. At the end of the year, you can take out the money or you can renew it. I am going to take half out and put it another savings account.Hope some of these tips help. You can do it!

 

[Kimberleigh]

Quote:

Originally Posted by Shimmer www.daveramsey.com

Yeah, I think that's the dude's name who wrote the book that my hubby read a few months back. My husband just refers to him as "Dave". I didn't read the book because, honestly, it just made sense anyway. I've always been very sensible with my money hence no credit card debt.

 

[Shimmer]

I'd bet that's the guy.
Dave's got good advice in the book too, about buying cars, driving them, and what not. He tells how to pay off mortgages early, etc.

Some people don't consider it common sense. I do.

 

[Jaim]

I pay all my bills first and whatever is left I put into savings or treat myself. I like things to be simple!

 

[lethaldesign]

I have a financial spreadsheet which allows me to budget for various things. I break it down to show all my individual outgoing bills (including amount & due date). Then I list the high average I spend per month on gas for my car & groceries. I have an automatic amount direct deposited to savings so the amount I use for my monthly income on my spreadsheet already excludes what I put into savings (as well as an automatic deduction on my paycheck to my company's 401k). So whatever $ I have left a month is "free money" or money I can use to pay extra to bills. What I spend really depends on what I want need or if there are any events (including birthdays, weddings, concerts, etc.) that I plan on attending that month.