| What is your budget plan? |
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Spradle
Contributing Member
Cash: $ 8.75
Posts: 38
Joined: 23 Jan 2011
Location: UT
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| What is your budget plan? |
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What do you NEED (how much money) to live each month? and
What do you actually make?
Are you saving any of that money?
How, do you motivate yourself to stick to your budget?
For tips on freedom from financial stress and other stresses Http://www.weCanBefree.com
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Sun Jan 23, 2011 1:14 am |
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GotCommonCents
Contributing Member
Cash: $ 6.20
Posts: 31
Joined: 29 Mar 2011
Location: North Carolina
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My wife and I are 24 years old. This is what our budget currently looks like. I work a job and a half to earn the $5,000/month. We just moved to where my main job is so my wife is looking for work that will increase the income which will all go towards savings to buy a house.
We stick to our budget buy agreeing on it at the beginning of every month. We also withdraw cash for Food and Blow money so that keeps us in line.
If you are looking for car payments or credit card payments, you won't find any.
Monthly Budget for Married Couple
Income $5,000.00
Savings $1,660.00
Charity $500.00
Housing $800.00
Utilities
Electricity $160.00
Water $50.00
Dish Network $52.00
Internet - AT&T $35.00
Food
Groceries $320.00
Restaurants $180.00
Gas $150.00
Medical/Health/Life
Health Insurance $150.00
Life Insurance $22.00
Personal/Home/Recreation
Chloe (dog) $30.00
Redbox $8.00
My Blow $50.00
Her Blow $50.00
House Purchases $15.00
Gym Membership $90.00
Sinking Funds (balances carry over month to month)
Car Insurance $88.00
Car Replacement Fund $225.00
Car Taxes, Maintenance & Repair $85.00
Gifts $85.00
Vacations $85.00
Health Savings $85.00
For more advice about how to handle your personal finances and manage your life in a way that will be prosperous, check out my blog:
www.GotCommonCents.com
Last edited by GotCommonCents on Thu Apr 07, 2011 2:02 pm; edited 1 time in total |
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Fri Apr 01, 2011 9:42 pm |
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mizzoumoney
Member
Cash: $ 2.05
Posts: 10
Joined: 07 Apr 2011
Location: Columbia, MO
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| My monthly budget |
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My monthly budget as a single 26 year old guy who has been working full-time for almost 1 year is as follows:
Monthly Budget
Gross ($2,900) Net Income: $2,200 (after taxes, life/medical/vision/dental)
Retirement $100
Rent $635
Utilities: $90
Cable: $0
Internet $35
Groceries $300
Gas $90
Gym Membership $30
Car Insurance $97 (American Family)
Cell Phone $75
Car Loan $185
Student Loans $310
Its kinda tight yes as you can see I dont eat out much at all. I use the AceBudget App on my iPhone and it helps big time to track what I have, whats left an what I just spent. Keeps me on par to pace my spending and track my spending at the end of the month.
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Thu Apr 07, 2011 1:45 pm |
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GotCommonCents
Contributing Member
Cash: $ 6.20
Posts: 31
Joined: 29 Mar 2011
Location: North Carolina
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Delete
For more advice about how to handle your personal finances and manage your life in a way that will be prosperous, check out my blog:
www.GotCommonCents.com
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Thu Apr 07, 2011 2:01 pm |
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jeffreymint
Preferred Member
Cash: $ 26.80
Posts: 131
Joined: 04 Feb 2011
Location: Kissimmee, FL
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I will live within my means... I will live within my means... That is my budget mantra. And somehow I got used to it and it works for me!
Soon maybe I should add: Stay away from dine outs! Cool huh! It's all in the mind.
Click here to get the best deal on life insurance.
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Thu Apr 07, 2011 11:59 pm |
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kate032
Preferred Member
Cash: $ 22.35
Posts: 111
Joined: 25 Feb 2011
Location: Michigan
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I live like JeffreyMint. I also have to admit that I'm not in my 20s or 30s anymore, but I just live below my means and so when I want to splurge a little, I can. The great news about this economy is that prices are generally low, and deals are to be found in many places.
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Sun Apr 10, 2011 12:15 am |
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kate032
Preferred Member
Cash: $ 22.35
Posts: 111
Joined: 25 Feb 2011
Location: Michigan
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GotCommonCents -- Into which category do personal expenses go? I saw your Blow category, but I mean things like toiletries and clothing.
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Sun Apr 10, 2011 12:20 am |
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spendherenotthere.net
New Member
Cash: $ 0.60
Posts: 3
Joined: 12 Apr 2011
Location: not in debt
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While income and categories of spending vary, we came up with a budget of priorities (financial pyramid) for our spending that allowed us to pay off $140k in debt and we are now on our way to millions. check out our financial pyramid on our blog.
What we learned is that when we spent more on debt reduction and now on investing than any other category of spending, we got out of debt and are now on our way to million(s) in the foreseeable future. Here is the list of our priorities:
1. Debt Reduction/Investing
2. Housing
3. Insurance
4. Food/clothing/household items
5. Utilities
6. Donations
7. Transportation
8. Me Fund (Entertainment).
Everyone's budget categories will vary slightly. For example, we have a son who is in what we call school for toddlers at our church. Right now that expense is not great and we put it in our donations. Others including us in the future spend more on education and that will need to be adjusted. There will always be adjustments but we have found that staying within our pyramid where spending on debt reduction/investing is the top priority we have always navigating to huge gains in net worth and soon to be able to do whatever we want to do.
I believe that anyone can get their budget within a financial pyramid that we have developed and they will be on their way to being out of debt and a life that they could not have imagined.
Please follow us in our journey from debt to millions at www.spendherenotthere.net
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Tue Apr 12, 2011 2:02 pm |
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littleroc02us
Moderator
Cash: $ 204.95
Posts: 1013
Joined: 09 Feb 2009
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I subtract my expenses/investments from my income and that's all I can spend.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Tue Apr 12, 2011 2:10 pm |
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teena.robert
Preferred Member
Cash: $ 26.20
Posts: 129
Joined: 25 Apr 2011
Location: UK
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Budget management is not an easy task. This is very difficult to manage your budget. For managing your budget you need to control your unwanted expenses. Generally people expense a lot of money on their little unexpected and unwanted expenses, and after some time face problems. These little expenses create problems, so control them first then you can manage your budget.
Forex Trading | Learning Forex
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Tue Apr 26, 2011 12:01 am |
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