(Closed) Good Resources to Make a Budget?..

posted 6 years ago in Married Life
Post # 3
Member
2893 posts
Sugar bee

I love mint.com. When I want to do some hardcore saving I’ll spend a month tracking and categorizing every last penny and tally it up at the end of the month to see where my habits are and if there is any needless spending being done. Then I’ll update my mint.com budgets with current expense figures and establish goals. Or sometimes I’ll determine a goal, determine how much I want in my checking and any money left above that amount in my checking at the end of the month will get transfered straight to savings to pay for that goal.

Post # 4
Member
1798 posts
Buzzing bee
  • Wedding: August 2011

I second the mint.com suggestion. Darling Husband and I just started using it at the beginning of January and we love it so much. It’s really easy to set up financial goals (like emergency savings, paying down debt, retirement) and it will tell you how much to contribute each month and when the expected completion date is. It will also track your spending and show you trends over recent months. I have it integrated with my credit card, so whenever we buy anything, it automatically gets recorded and categorized by mint.com. H and I use their smartphone app to keep track of the budget when we’re out so we know how much money we have to work with.

Post # 6
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

I agree that getting a handle on where you money goes is the first step to cut down on ways you waste money.

There are some people that have rules of thumb for what you spend, I’m not sure if it’s really necessary to go by any of those if you just make sure to cut down on what you spend to be able to afford what you want and save.

Post # 8
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

Hmm if you already have something to track your expenses, I don’t think Mint would help too much though it does show averages for what other people spend on things so that might help you realize you are spending too much.  But other than that, there isn’t really a magic formula, just cutting back to what you think you can spend and then re-evaluate after you spend a little time with the budget to see if the numbers work for you.

Post # 10
Member
379 posts
Helper bee
  • Wedding: September 2012

I’ve checked out mint.com, but I don’t really feel comfortable letting a website have that much access to my personal accounts.  Every month after I pay the bills I download all of my expense information into excel.  I have built a budget and have my finances broken out by month in a pivot table.  I also prefer to do everything this way since I can categorize my expenses myself and create budgets within budgets if i choose.  For example I have a clothing budget within my overall expense budget.  I statrted the process of my expense by seperating out the necessity spending from the optional spending,  I looked at all my bills from previous months, and figured out what I have to spend to survive, to feel comfortable, and what I could live without.  From this I coule figure out what I could save per month, and would be able to afford as a mortgage payment.  I’m a lil crazy when it comes to money though, not that I don’t spend it, I just like to know where it goes.  I am a financial analyst as my profession and I bought my house at 23.

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