How do you do your budget?

[shoegal]

I use a spreadsheet I made to keep track of expenses, debt and credit card transactions. I tracked expenses 1-2 times a week and check on payments/bills too.

I used Mint for a while but I like my spreadsheet a lot better.

[ScoreSizzle]

YNAB! You won't find a better budgeting app out there.

[iced]

My "budget" probably isn't really a budget anymore. The flowchart is basically thus:

1. All savings and other essential expenses are pulled out before any take-home. Before I see a penny of my pay, all money earmarked for savings DD, Roth 401k, HSA, and ESPP are already taken out.

2. In the case of recurring monthly bills, all are auto-pay to pay out one day after one of my two bi-monthly checks. Because of this timing, my discretionary (see below) is already set one day after paychecks hit.

3. Whatever is left is discretionary and is used solely for either cash (ATM withdrawals) or PIF toward CC. If there's excess by next paycheck left, any excess in increments of $1000 are added to rainy day savings. On months where I spent more than was available (annual insurance payments, vacation, etc), enough is pulled in from rainy day savings (or the CC is paid directly from rainy day) to cover the payment and leave $250 in checking as a buffer.

While this approach doesn't sound very organized, it accomplishes what it sets out to: my savings vehicles are guaranteed to be paid into and all monthly debts are paid.

Most of my budgeting comes around the rainy day savings fund instead. If it gets too large, money is siphoned off to be invested. Other times, it slowly trickles smaller over a period of months until a bonus or other large payout hits to replenish it.

[OmarGB9]

Simple spreadsheet for now, will probably look into one of those budgeting apps though.

[mchang124]

I created a budget sheet using apple numbers. its called my reoccuring expenses. so i input all my reoccuring expenses (savings, insurances (life/home/car), investments, my son's college fund, utilities, etc), which account each comes out of and due dates. 

My wife and I also budget for gas, groceries, and eating out because these can flucuate. So we have a budget limit for each category so that we are mindful we arent overspending. 

Any excess that we have left over after all bills are PIF (everything is set on autopay on our credit cards, or what we can put on our credit cards), goes straight to savings and additonal percentage goes into our investments. 

We've been running this kind of system since we got married and has worked well for us and helped us save and invest alot of money. What helps tremendously is that i also have a spreadsheet that keeps track of all our bank accounts, and investments that we review on a monthly basis to see if our net worth is continuing to grow. But I also keep a separate spreadsheet for my business since it ties directly to our personal finances as well.

[Anonymous]

I used YNAB for many years, along with a spreadsheet that I track cash flow, etc.  I stopped using YNAB when the version I had no longer was supported and I had to start paying an annual fee to use it.  I'm still using my spreadsheet and that works well for the most part.  I have mint set up, too, but I find much harder to navigage/configure to meet my wants/needs.  I may go back to YNAB soon.

[ScoreSizzle]

I already wrote that I use YNAB, but here's why I love that app. 

Once you watch a tutorial on YouTube, it's 10X easier to use. 

Here's what I do with my app. 

I have my "Fixed Expenses" Rent, Phone, Insurance, etc...

Then I have my "Living Expenses" Groceries, Gas, Random Household Items, Diapers/Toys etc...

Then I have three others which are "Rental Property", "Not So Often Expenses (auto upkeep)" and "Just for Fun". 

I'll keep it simple rather than saying which ones I fill in first since everyone has different priorities.

Once all of these categories are filled in on the app to what I need/want each month, I start putting money away for the next month(s).

Sometimes I'll go over on gas or food one month because I just have to and I'll have to tap into next months money. It happens. I just don't make it a habit. 

But for the most part, the app keeps everything right in front of my face. It will show me how much I've overspent, how much I put into that category TO spend. It's truly a great app. 

I was using Fudget, but that was just tracking my money, it wasn't helping me actually budget.

Plus this app will tell you how old or "aged" your money is. It tells you that the money you've spent today is 18 days or 63 days old. Once you start getting past the 30 and 60 day marks in the app, you stress less on everything because you KNOW that the money is there already.

I love walking around sounding broke knowing that I could do whatever I want but this app won't allow it because it's "not in the budget." LOL! 

[Anonymous]

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@ScoreSizzle wrote:

I already wrote that I use YNAB, but here's why I love that app. 

Once you watch a tutorial on YouTube, it's 10X easier to use. 

Here's what I do with my app. 

I have my "Fixed Expenses" Rent, Phone, Insurance, etc...

Then I have my "Living Expenses" Groceries, Gas, Random Household Items, Diapers/Toys etc...

Then I have three others which are "Rental Property", "Not So Often Expenses (auto upkeep)" and "Just for Fun". 

I'll keep it simple rather than saying which ones I fill in first since everyone has different priorities.

Once all of these categories are filled in on the app to what I need/want each month, I start putting money away for the next month(s).

Sometimes I'll go over on gas or food one month because I just have to and I'll have to tap into next months money. It happens. I just don't make it a habit. 

But for the most part, the app keeps everything right in front of my face. It will show me how much I've overspent, how much I put into that category TO spend. It's truly a great app. 

I was using Fudget, but that was just tracking my money, it wasn't helping me actually budget.

Plus this app will tell you how old or "aged" your money is. It tells you that the money you've spent today is 18 days or 63 days old. Once you start getting past the 30 and 60 day marks in the app, you stress less on everything because you KNOW that the money is there already.

I love walking around sounding broke knowing that I could do whatever I want but this app won't allow it because it's "not in the budget." LOL! 

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I would use YNAB but I refuse to pay for a subscription to an app. I think that model is extremely greedy and I won't support it. 

I set up multiple budgets with Fudget so I can see my cash flow but honestly my budget demands are that I always end the month in the positive (meaning I didn't have to carry something on a credit card and pay interest). As long as I am doing that, I am generally fine although I have a budget for groceries too even though I don't really need one. 

[ScoreSizzle]

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@Anonymous wrote:

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@ScoreSizzle wrote:

I already wrote that I use YNAB, but here's why I love that app. 

Once you watch a tutorial on YouTube, it's 10X easier to use. 

Here's what I do with my app. 

I have my "Fixed Expenses" Rent, Phone, Insurance, etc...

Then I have my "Living Expenses" Groceries, Gas, Random Household Items, Diapers/Toys etc...

Then I have three others which are "Rental Property", "Not So Often Expenses (auto upkeep)" and "Just for Fun". 

I'll keep it simple rather than saying which ones I fill in first since everyone has different priorities.

Once all of these categories are filled in on the app to what I need/want each month, I start putting money away for the next month(s).

Sometimes I'll go over on gas or food one month because I just have to and I'll have to tap into next months money. It happens. I just don't make it a habit. 

But for the most part, the app keeps everything right in front of my face. It will show me how much I've overspent, how much I put into that category TO spend. It's truly a great app. 

I was using Fudget, but that was just tracking my money, it wasn't helping me actually budget.

Plus this app will tell you how old or "aged" your money is. It tells you that the money you've spent today is 18 days or 63 days old. Once you start getting past the 30 and 60 day marks in the app, you stress less on everything because you KNOW that the money is there already.

I love walking around sounding broke knowing that I could do whatever I want but this app won't allow it because it's "not in the budget." LOL! 

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I would use YNAB but I refuse to pay for a subscription to an app. I think that model is extremely greedy and I won't support it. 

I set up multiple budgets with Fudget so I can see my cash flow but honestly my budget demands are that I always end the month in the positive (meaning I didn't have to carry something on a credit card and pay interest). As long as I am doing that, I am generally fine although I have a budget for groceries too even though I don't really need one. 

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We think the same way. 

I don't need one either since I'm debt free and don't carry balances either but I like going extreme on things until it's beat into my head until I won't need it anymore, lol. 

YNAB helps me with that. 

Fudget was actually the app I used just before I purchased YNAB. I love how easy it is to use. 

[calyx]

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@Anonymous wrote:

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@ScoreSizzle wrote:

I already wrote that I use YNAB, but here's why I love that app. 

Once you watch a tutorial on YouTube, it's 10X easier to use. 

Here's what I do with my app. 

I have my "Fixed Expenses" Rent, Phone, Insurance, etc...

Then I have my "Living Expenses" Groceries, Gas, Random Household Items, Diapers/Toys etc...

Then I have three others which are "Rental Property", "Not So Often Expenses (auto upkeep)" and "Just for Fun". 

I'll keep it simple rather than saying which ones I fill in first since everyone has different priorities.

Once all of these categories are filled in on the app to what I need/want each month, I start putting money away for the next month(s).

Sometimes I'll go over on gas or food one month because I just have to and I'll have to tap into next months money. It happens. I just don't make it a habit. 

But for the most part, the app keeps everything right in front of my face. It will show me how much I've overspent, how much I put into that category TO spend. It's truly a great app. 

I was using Fudget, but that was just tracking my money, it wasn't helping me actually budget.

Plus this app will tell you how old or "aged" your money is. It tells you that the money you've spent today is 18 days or 63 days old. Once you start getting past the 30 and 60 day marks in the app, you stress less on everything because you KNOW that the money is there already.

I love walking around sounding broke knowing that I could do whatever I want but this app won't allow it because it's "not in the budget." LOL! 

---

I would use YNAB but I refuse to pay for a subscription to an app. I think that model is extremely greedy and I won't support it. 

I set up multiple budgets with Fudget so I can see my cash flow but honestly my budget demands are that I always end the month in the positive (meaning I didn't have to carry something on a credit card and pay interest). As long as I am doing that, I am generally fine although I have a budget for groceries too even though I don't really need one. 

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I generally agree with you re: app subscriptions, but the YNAB people are super active with customers, reactive and always tweaking/adding requested updates, so I feel OK giving them money.      If they were less reactive, I'd use a spreadsheet - some people have mocked up pretty good YNAB like spreadsheets.