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Started By
Message
re: How do you and your SO budget?
Posted on 11/3/15 at 2:53 pm to makersmark1
Posted on 11/3/15 at 2:53 pm to makersmark1
quote:
At this point, we do not actively budget.
We max all retirement accounts(403b, 457, IRAs) pay all of our bills in full each month, and neither of us is a big spender.
We have never spent more than we make and started off saving all of her income.
We are high income, but also have a lifetime of savings habits.
I guess we should look at where we spend money, but it may not change much. We are not in any financial strain.
We kind of do the same thing, where we dont specifically budget set amounts on food, gas, etc. We know how much money we make, and slow down spending if we get to a certain threshold.
Now in the big scheme of things, if you have no real debt, is this a huge issue? I could argue both sides, but feel like it would be too much work to budget every single dollar when we are fairly good savers.
I could see having ancillary monthly expenses and subscriptions adding up after a while.
I'll play with the budget template if you send it to me, may change my mind
<<<<@gmail.com
This post was edited on 11/3/15 at 2:56 pm
0
Posted on 11/3/15 at 2:58 pm to CHiPs25
quote:
Dave Ramsey's style
Posted on 11/3/15 at 4:22 pm to lilsnappa
(no message)
This post was edited on 11/4/15 at 6:37 pm
Posted on 11/3/15 at 4:59 pm to Cold Cous Cous
quote:
I'm concerned we're basically papering over some bad habits, habits that could bite us in the arse if our income ever drops. And by we I mean, specifically, me.
You are right. I'm probably a little lazy regarding this and I'm sure there are some "wasted" dollars.
I guess almost any expense can be cut, but if we are paying our bills, maxing our retirements, have emergency fund, etc, etc.
Why should I fret over my wife spending money on clothes or me enjoying football tickets, etc?
Posted on 11/3/15 at 5:22 pm to makersmark1
quote:
Why should I fret over my wife spending money on clothes or me enjoying football tickets, etc?
I agree with this, somewhat. Everyone's situation is different. It really depends on your financial goals...besides retirement.
We have six figures in Student Loans (med school) that are about to end their grace period, an auto loan that we want to pay off with the quickness, and we are working to build a nice emergency fund (6 months living expenses).
If we were lazy, we'd just pay the minimums on the debt, spend as we want, and put whatever is left into savings... but that is not our goal. We want to be out of debt and taking advantage of our income, as fast as possible.
I want to be financially independent well before retirement age, so we are making financial decisions now that hopefully will get us there. The budget is just a tool to help us reach that goal.
Posted on 11/3/15 at 6:16 pm to lilsnappa
quote:
Everyone's situation is different. It really depends on your financial goals...besides retirement.
^true
I'm a simple man. I had the Army pay my way through undergraduate and medical school. I stayed in and retired. I had a solo practice for 4 years, but I missed teaching so i joined the medical college as a physician/teacher in a residency program.
My wife is low maintenance. My kids are not conspicuous consumers. We travel some and enjoy eating out for some meals. None of us smoke. My 18 Year old works and is a part time college student (he's making up his mind regarding careers).
What I've observed in my life as a doctor is that a lot of the "needs" are "wants" and the "wants" morph into a lifestyle. Many people are looking for "happiness" in objects and validation through "fitting in" to an image. I am not very fashion forward and do not really want stuff. I enjoy experiences with family and friends. I don't mind spending money on a good dinner with friends, but I have a wedding ring and no other jewelry.
If you have one wife, one house, one car (at a time for each of you), life is not as expensive as having a house, a beach house, a car to get to work, a special golf cart, etc, etc.
Posted on 11/3/15 at 9:24 pm to makersmark1
Can I get a copy of the budget spreadsheet also?
<--@hotmail.com - yes, email account is that old
<--@hotmail.com - yes, email account is that old
Posted on 11/3/15 at 11:06 pm to lilsnappa
<<< @gmail.com
This post was edited on 11/3/15 at 11:06 pm
Posted on 11/4/15 at 10:20 am to RebelExpress38
All yalls should haves mails.
Posted on 11/4/15 at 10:22 am to lilsnappa
I don't want your budget...just your monies...
Posted on 11/4/15 at 10:45 am to Golfer
quote:
just your monies...
can't has it.
Posted on 11/4/15 at 10:57 am to lilsnappa
chubbychicksoftheot@yahoo.com
Posted on 11/4/15 at 10:57 am to CHiPs25
If you bank with Regions then you already have a pretty good budgeting tool built in with Insight.
I use it to keep track of my bills and expenses. It's easy to also tie outside accounts, such as credit cards and student loans. It will automatically import all of those external site information each time you log in.
I'm impressed with it.
I use it to keep track of my bills and expenses. It's easy to also tie outside accounts, such as credit cards and student loans. It will automatically import all of those external site information each time you log in.
I'm impressed with it.
Posted on 11/4/15 at 6:35 pm to makersmark1
quote:
makersmark1
Downvoted by accident and on ipad can't change it. Meant to give you an up vote.
Very well said.
Posted on 11/4/15 at 7:30 pm to CHiPs25
Don't worry.
Even if someone downvoted my post, it's just an opinion.
No big deal.
I splurge sometimes. Especially for Greek food or a good cheesecake.
Even if someone downvoted my post, it's just an opinion.
No big deal.
I splurge sometimes. Especially for Greek food or a good cheesecake.
Posted on 11/4/15 at 7:40 pm to CHiPs25
I've never really found the need for a monthly budget. I actively monitor my CCs just to make sure my daily charges are correct and nothing iffy is going on but other than that nothing really. I know what we are bringing home monthly post tax/savings/etc, I know what our recurring charges look like, it's not rocket science making sure we don't overspend the rest of the month. If I was to lose my job or something I'd probably create a spreadsheet just as something to do to be productive
I remember starting a spreadsheet when I was fresh out of college thinking this was the smartest thing ever and after 3 months laughing at how useless it was to me. Obviously it is a big help to a lot of people just not for me
I remember starting a spreadsheet when I was fresh out of college thinking this was the smartest thing ever and after 3 months laughing at how useless it was to me. Obviously it is a big help to a lot of people just not for me
Posted on 11/4/15 at 9:20 pm to hiltacular
I started keeping a budget shortly after getting out of college. I was making like 36k/yr in an entry level position and the company only paid once a month... Got tired of running out of money the 3rd week of the month and started tracking my spending.
It taught me discipline and how to plan ahead, and as I began to make more and more money it has paid off greatly in my financial life.
.. And then I got married.
It taught me discipline and how to plan ahead, and as I began to make more and more money it has paid off greatly in my financial life.
.. And then I got married.
This post was edited on 11/4/15 at 9:22 pm
Posted on 11/4/15 at 11:29 pm to lilsnappa
can you email template?
rlcartie@gmail
rlcartie@gmail
Posted on 1/22/16 at 4:13 pm to lilsnappa
quote:
lilsnappa
<<<<<<<< @ gmail.com
Please email me the template. TIA.
Posted on 1/23/16 at 4:22 pm to NoleTideNole
I'll take a copy of the template as well, please. Ruger3.5@gmail.com. thanks
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