This is the second post in the monthly series titled Simple Budgeting. Check the left sidebar for the link to last month’s post.So the topic for this month is “A Little Math“. This month’s post is going to continue off last month’s post where you were asked to write down all of your monthly expenses on a piece of paper. Not your spreadsheet or database or online bill pay but regular old pen and paper. Writing something down works your brain in a different way that typing it or just reading it on a screen. That is the main reason you were asked to write it down. Check out last month’s post here for more details on how to write your monthly budget out and why it should be on paper.
This month I am going to ask you to add up all of the numbers that you already have written down for February’s bills. Then get your pay stub or pull up your online bank account and figure out how much you have coming in this month. The little math is to take your incoming calculation and subtract your outgoing calculation. This will give your “what is left” amount for each month. I personally find this amount depressing but instead of mulling over it, I take it as a challenge to see how far we can stretch this amount. This is where my sale shopping, coupon clipping, consignment sale planning, and planning in general come into play. If you can stretch this “what is left” amount then you will find that you can get more for your buck and even start to add your savings account some!
If you take time to do this, leave me a comment and let me know. I love feedback. I have given this challenge to other friends over the years and it has really helped them so I hope it helps you too!
Also if you have a budget tip of your own, question, scenario, etc., you would like to see in my monthly post, leave me a comment or send me an email at simplybudgeted at gmail dot com! I LOVE hearing from you!
We are working on adjusting our budget as rent is going up and no pay raise this year. It is a little depressing to see the left over number but it is also a little motivating to see where we can save more!
We're on a limited income right now so of course the figure is low, but like you I take this as a challenge to save and get the best prices ever! I'm also interested in what you wrote about writing things down working your brain in a different way – whenever I'm watching movies to review I write copious notes (as does a guy who reviews for an alternative paper in town) whether I'll use the info or not, and this really gets me started in terms of writing the review plus remembering facts that I would not have, naturally.
I, like Christina, am on a very limited budget. I'm not working had a lot of complications when I had my baby and my dh just started working again after a year of being laid off. It's hard trying to keep up with everything by paper but I'm trying but I don't have a set system yet.
This is all great advice and has worked well for my husband and I for years. As long as you know what is coming in and going out and can account for it and there is more coming in then you can save up for future,
we are currently having financial difficulties with two kids on school and a baby still on formula milk and diapers, house rent, water and electricity, the list go on and on. honestly the money that comes out goes so fast than the money coming in. i'm really having a hard time budgeting. i keep the receipts of all our expenses and sort it out so for the next grocery i know the least expensive items to throw in my cart.
We are saving for a vacation to Disney World. Trying to teach the kids how expensive that can be. We have set up a jar in the kitchen that family members can "donate" their pocket change or allowance that they earn to go towards that trip! It is amazing to see how generous little ones can be:)
We do this every month. I also keep a log of "normal" costs (water, electric, tools, insurance, groceries, gas, rx, tithe, dr, credit cards, everything. I have a budget to stick to and as I write them down, I can watch to see how we're doing & whether or not we need to really strap down that month. It helps to keep up rather than freak out when it's too late. We also keep envelopes for the kids savings, Christmas budget, and all of our insurance and pull out a certain amount of money each paycheck so that when the bills come we don't have a total breakdown – the money's there and our bank account doesn't do the dreaded dip. Thanks!
Kelly Deaton – secrets_girl23(at)yahoo(dot)com (aka) dkad23(at)gmail(dot)com
I agree that there is a difference between a computer spreadsheet and putting pen to paper. The latter seems more "real" – just like spending cash seems more real than using a debit card. When I spend cash, it hurts a little more, makes me think twice.
Since we have only one income right now, we have to work a little harder to stretch each dollar. I think the hardest thing has been distinguishing between wants and needs. My strategy is to never pay full price for wants; that way we can get more of them. 🙂
So much less. It is always less. We really need to do something to combine our student loans together. Between my hb and myself we have 5 different ones each taking between 100-200 a month! UGH!
I always use cash, but I should definitely think about writing out a budget.
We keep a very detailed spreadsheet on expenses and have done so for years. It is very enlightening to examine and evaluate your finances!
Nancy
allibrary (at) aol (dot) com
i make lists for everything