(Closed) Arghhh – Newlywed Budgeting stinks!

posted 7 years ago in Married Life
Post # 3
Member
558 posts
Busy bee
  • Wedding: August 2009

What I did befoe I made a budget for us was I made a “money tracker” spreadsheet in Excel. I put every category I could think of across the top (groceries and dining out were separate, rent, utilites, phone, internet, gas, etc) and then every day I would enter how much we spent in each category. After a month or two I really had a good idea of where our money was going, and it gave me a starting point for a budget. I mean, how can you make a budget if you have no idea how much you actually spend on certain things every month?

After about 2-3 months, I took all the info in my money tracker and turned it into an actual budget. It was rediculous how much we were spending on eating out! Him eating lunch out nearly every day was $200 a month just by itself! Whoa!

Post # 4
Member
651 posts
Busy bee
  • Wedding: May 2012

I would recommend Mint.com.  You could do basically the same thing as what Miss Snowflake said, but using mint.com.  It’ll track and categorize it for you, I just log in twice a week to make sure it categorized correctly.  And helps you see what you’ve already paid this month, and what is still left to pay.

Post # 5
Hostess
18624 posts
Honey Beekeeper
  • Wedding: June 2009

I love love love Quicken!  If you don’t want to pay for a system though, you can use Mint.com which is now owned by Quicken.  It helps to keep track of all your accounts, balances, bills, etc.  If you have any questions about it, feel free to PM me!

Post # 6
Member
2250 posts
Buzzing bee
  • Wedding: March 2017

To begin when we combined our finances- we only spent “essential money” to see how frugal we could be. we packed all our lunches, didnt buy new clothes etc. it let us put the money we saved into a cushion and it really helped when we started wedding saving.

Post # 7
Member
573 posts
Busy bee
  • Wedding: April 2010

We’re still working on this, but you might consider reading a book specifically for couples, like “Smart Couples Finish Rich.” You can get ideas about what money issues to discuss and how to organize things.

Post # 9
Member
2008 posts
Buzzing bee
  • Wedding: September 2009

@cazos – Mint.com could work really well for you then.  If you can access your accounts online then you can add them to one Mint account.  For example, I have my personal checking, joint checking, savings for each of those, renters checking, online savings, mortgage account, credit card and an investment account on mine.  (That’s 4 banks!)  In order to keep track of purchases I only have to log into one place.  It makes things managable.  There’s no way I could juggle all of those accounts without Mint!

Post # 13
Member
2008 posts
Buzzing bee
  • Wedding: September 2009

Oh, I see what you mean.  Hmmm…  I don’t know of a way to make mint do that unless you set up two separate accounts for it.  At that point you might be better off buying something like Quicken but I’m really not all that familiar with it.  Maybe @MrsSaltWaterTaffy: could chime back in?

Post # 14
Member
651 posts
Busy bee
  • Wedding: May 2012

You can’t set up separate budgets, it would be just one budget in mint.com.  But here’s an idea, and I don’t know if it would work for you.

You can set up your own sub-categories in mint so you could do something like this…

Rent/Mortgage  $xxx

Utilities            $xxx

etc…for all your combined bills.

Then under appropriate categories you could do this…

For example, shopping is a category – make your own subcategory that is called “Caszos Shopping” and mark all the transactions as that.  Then you could have “Mr. Caszos’ Shopping” as another sub-category.  Would that solve the problem of having separate budgets within one budget?

Post # 16
Member
651 posts
Busy bee
  • Wedding: May 2012

Ah, ya I forgot you can only do a budget off a category, not off of a subcategory (which maybe they would add that in the future).  Yea sounds like excel would work best then.

The only other thing you can do in mint is have that overall budget and then you can look at pie charts and stuff to see if you are within your part of the budget, or he is within his part.  But excel might just be easier at that point I think.

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