“B” Word Continued…

Now as I’ve said I have multiple budgets.   I have my main one that I follow and change as needed.  On this budget, I have multiple tabs and mini savings trackers. I have a list of each paycheck period with possible income (mine is more set then his) and debts.  After the debts our totaled, I then have a set amount that I put into savings.  On the side, I have an accounting up to the end of November with “should have saved” and how much more we need to save.  Every two weeks, I add in the amount that I have had planned.   (I will add more months at November’s start)  At the end of one pay period and the beginning of the other, I take all the money that we have not spent (either money that we had set aside for laundry we didn’t need or money from our “misc. fund” that wasn’t needed and so on) and divvy it out between our savings funds.  Currently we have: house fund (also our emergency fund), debt fund x2 (we have one bill we are saving to pay off and then a $500 amount that is not a debt but it’s easier to classify it as one so it get’s saved for—I was asked nicely to put this amount on our list to be saved), Christmas fund and our “new car” fund.

It’s actually really great looking at the trackers I have set up.  Currently we are ahead on a few of them simply because of the excess money that we’ve been saving.  I really love looking at the debt one in particular.   As of right now, we need one more pay period in order to clear the first bill.   After that, we have decided to start saving for my bank fund—I personally can’t wait but I’m also anxious.  I don’t know what bank I want to go with and so I’m going to have to start researching that.

My trackers are simple.  I use excel as it’s convenient and I can just email the budget I’ve worked on to myself and open it in Google Documents wherever I am.   I than set up an area where I place our goal and what it is for and then in another column I have what we’ve saved so far.  I then have it tell me how much I have left to save.  Do I need to do that? No but it sure is nice looking at the progress we make.

Our car fund is brand new—just added it the other day.  We decided that we are going to drive the car until we can’t but while we are doing this we are saving up for a different one.  We actually aren’t sure still about what time frame we are looking at.  That’s the rough spot on this one.

Do you use paper and pencil or a computer to track your money? Do you divide out your goals or do one at a time?

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One Comment on ““B” Word Continued…”

  1. amyleebell says:

    I make my budget on the computer, and then print it off and hang it on the side of the refrigerator. Every time we spend some money, we write it down in the correct category. I have limits for each category written on my budget sheet. We try to under spend in each category over the month, but sometimes something like car expenses will cost us more than budgeted. I don’t really care as long as we come out even or better overall.
    We pay the minimums on all of our debts, except our highest interest. We throw everything else at our highest interest debt. We aren’t saving a lot of money right now, because if we needed extra money, truly needed it, we could just pay minimum on everything for a couple of months and turn out okay.


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