Newbie...at budgeting

4 replies
As much as I know I would like more money, I don't really know what I do with the money I have. Some months I spend more than I make, and other months I end up paying off the expensive months. Any tips on how to start a budget and keep at it?
#budgeting #newbie #newbieat
  • Profile picture of the author moneyninja
    You could try doing an automatic deposit of a specific percentage of your pay into an online only bank account. That way it takes you a couple days to get it out and you will be less likely to spend it unless you really need it.
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  • Profile picture of the author theory expert
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    Originally Posted by ginandtonic View Post

    As much as I know I would like more money, I don't really know what I do with the money I have. Some months I spend more than I make, and other months I end up paying off the expensive months. Any tips on how to start a budget and keep at it?
    It is easy...live below your means!!!!!

    Write that down 100 times. Go to the $1 store and splurge because no matter what you spend you should come out on top. Shop at places like save alot grocery stores for meat. I dont know what exactly you spending on, but, whatever it is there are cheaper alternatives. This is the IM section, so, we need more info.
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  • Profile picture of the author Spradle
    we all want to be able to Budget our finances!!
    This is an article on the topic you are asking for tips on. I would recommend reading it
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  • Profile picture of the author ShellyJo
    Here's what I've done: I make a basic finance sheet that has a column for the bill description, date due, date paid, and how much it is. I also budget my spending money (same amount each week). Remember to include quarterly or yearly bills too.

    I usually work on a month to month basis and add special items at the bottom.

    If the bills are too high due to something outside my control (like gas prices) it comes out of my emergency fund or my spending money... not savings.

    If I want to buy something special (above my budget) I have to save up for it from my spending money.

    Any time I have a good week the excess goes into an emergency fund. Trust me, some kind of emergency will ALWAYS come up... the car breaks down, somebody loses their job, unexpected trip to the hospital.

    This has worked well for me for the last few years.

    Lastly, your savings should be listed with the other bills and paid regularly... "Pay yourself first" as they say.
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