Do you have a budget?

Winchester

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I think I asked this last year, too, but we have new people, so I thought I'd ask again.

We do have a budget and we try to stick as closely to it as we can. Last year, the grocery bill really kicked us, especially the last quarter of 2014; the prices of things like beef, butter, and such went through the roof. Even 85/15 ground beef hit about $5 a pound around here. Vet bills increased for us, too, in 2014; BooBoo has been having more than his share of physical problems and has needed to be seen and get his shots more often. Thankfully, gas has decreased, but we kept the Gas budget amount the same because what goes down will go back up eventually; it's just a matter of when and how much. Our insurances have increased quite a bit, both homeowners and vehicle insurance. We spent more on the vehicles, largely because of tires and other maintenance. Other things have pretty much stayed the same, a slight increase, but nothing major. Everything increased, but our paychecks. 


Rick finally finished our 2015 budget yesterday afternoon. We had to increase the grocery budget and the vet amount. Hopefully, I'll be able to keep the groceries in check to match the budgeted amounts, but some weeks it's a struggle. We don't buy a lot of packaged or convenience foods. And I do use coupons when I can. As for the vet, Boo needs a dental and I'm sure Ms. Pepe does, too. The rest of the kids should be OK and not need much of anything, other than their rabies shots, but we'll see. BooBoo is really having issues with arthritis and allergies.

What about you? Do you have a budget and do you try to stick to it? Have you noticed any increases for your family?
 

pinkdagger

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I don't, but I just ran through a quick estimate of my expenses vs my earnings on a web-based budget calculator and have a $600 shortfall.
I work a low paying part-time job, so it's definitely not enough to be living where I am and spending what I do. I'm living on my savings for the most part.

The bulk of my money goes towards rent, then pet food/litter and vet visits, then monthly transit. Vet expenses soared this year with Tweety's maintenance care. Now that I think about it, I didn't even factor in having to pay next year's tuition (or laundry). I try not to think about it too much. It's a bit disheartening.
 
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swampwitch

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We have a budget for living expenses for us and the kitties (includes prescriptions and vet care). Also included are things like clothes, car maintenance, and items for the house.  For sudden or large expenses like vet hospital and tests, major car repairs, or airfare for unexpected trips, we use savings. If we want to buy something expensive (like a sofa or planned trip) we usually save up for it first.

I really want to get a freezer but we don't have the room - buying larger amounts of meat would be a real savings. 
 
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sivyaleah

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I keep a budget.  I have a spreadsheet that I update year to year notating current income and expenses. I've been doing it for years, so I kind of have it down to a science now, but it's more a guideline than an absolute.  

I find we go over on groceries more than anything.  I love to cook, and I like good ingredients.  I'm probably way too picky but, so be it.  I get what I want and don't really think about it too much except when I look back and realize how much I spent!  In a perfect world, I would have become a professional chef lol. This is, however, balanced out by the fact that our dining out expenses have dipped dramatically this past year due to watching our weight and I expect the same for 2015.  I force myself to cook dinner instead of doing the easy fast food.  Even if it's just soup and sandwiches, it's far better for us.  

The past couple of years we haven't taken a vacation either.  Tom has been in school full time (went back at 55 years old!).  We live in a very old home, and there is always something which requires the funds which I would have used for time away.  This year, our boiler kicked the bucket and now I'm in the hole for $10K, which needs to be paid off by the end of this year or I'll have huge interest tacked onto it.  I also really need to have our chimney re-pointed this spring, another $5K or so - if I let it slide another year, the risk to it potentially developing serious cracks is there.  

BTW, I don't talk about this much with anyone, but feel safe enough to do so here.  I am the sole breadwinner in the house.  I have been for years.  While both of us never had an education much past high school (I went to college for only a couple of years), I managed to learn and grow in every job I've had and also stayed in the same type of work.  So, now, am management at the firm I work for.  Tom, on the other hand, floundered for years with varying types of work, (fund raising, customer service, caretaker for the elderly, you name it he probably has done it) and only in his late 40's realized what the cost of doing this was.  He could kick himself now but recognizes the past is just that and moving forward is the key. By the time we moved in together 6 years ago, he was having difficulties finding work on a regular basis.  He'd get a job, have it for a year or less (customer service typically) accumulate some money, and then, the companies would let go masses of people at the same time and of course, being he was always one of the most recently hired, he was one of the first to go. And there would go the money.  Rinse and repeat. 

It's kind of a role reversal thing we have going, one which a lot of people don't understand but we're comfortable with the arrangement.  It was rough going at first, settling into it, but, I honestly have NO issue with it.  I've always been a feminist about many things and this is one of them.  Luckily I earn enough for us to live comfortably enough, be able to pay bills without really worrying too much, care for the kitties, and have a little bit of fun now and then.  His student loans and grants give him a little pin money, enough for his needs so I'm not really laying out too much extra that is directly for his use - it's mostly home related.  

It would be better if we married financially, but now with him in school it would most likely effect the funding he receives.  We don't want to mess with that.  He, for his part, even with going to school full time now, keeps up with the house work.  I am ridiculously proud of him.  I don't think I could ever go back to school at this age.

I'm hoping 2015 is the year I can pay off most of the debt, and then next year be able to save more (I do bank some of my paycheck in a 401K but would like to do more) and really start fixing up the house again; there's still a lot of work to do.  And, take a vacation.  That more than anything is what I want to be able to afford.  
 
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micknsnicks2mom

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yes, i have a budget. and i'm really good at sticking to it.

prices for most everything seems to be going up a lot. but i still stick to my budget, and find other ways of cutting back/cutting costs. last year (march, i think) i switched from satellite dish service to a roku and streaming tv/movies/programming -- last fall i reached the point that i'd offset the equipment cost (roku, router, cat5 cables) and began saving each month. this year i've got planned to switch from paying for a USPS box rental over to having a mail box and USPS will deliver the mail. the cost of the mail box will be offset in about 1 1/2 years (worth of post office box rental), after which i'll be saving. i always keep looking for new ways to cut back, to save.

i have a separate emergency fund for snick, for unexpected vet/medical needs. i rarely need to touch that, but it's there in case of an emergency. this year, since i'll be buying a used UTV for transportation, i'm setting up a general emergency fund. i'm working towards the goal amount i set for that right now. it'll be enough to cover unexpected UTV repairs as needed. i do pay for a home trust warranty, have since i bought my house. this covers almost all unexpected house repairs, and i only pay a small deductible for each repair.
 

stewball

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No i don't and i wouldn't know where to star. I don't have it a here and have no reason to hang on to my bills.
 

jtbo

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I don't really have a budget, I just don't consume at all as I don't have much any income at all. I'm unfit to work with all medical conditions I'm having so that makes quite tight limits for spending.

So, I just use as little money as possible, I save from everything I can and plan everything long term.

All prices have skyrocketed here too, income never seem to follow expenses, except in statistics, I have no idea where all those people are hiding that have so high income that is needed to get into averages that statistics claim people to have.

I got around 500 a month until October, I except to get something in few months again. Ground meat here is around $4.2 for a pound, but it is in reality more expensive as euro is weakened recently against USD, there has been again about 30% increase in my groceries expense during last year and I buy same as before, it has been so in few last years.

I don't know where to cut expenses next, I use water about 1/10th from average person and in comparable house as an average others use more than 20 times electricity what I use, can't save from those anymore.

There was actually one interesting report I did read recently, in US average person's wealth has actually decreased from 60's, despite women getting into working life which almost doubled workforce and thus production.

I guess it has been similar in other places, for example here we had around 10 different bus during the day at 80's, but now there is one at morning, one at evening and none during school holidays, despite the fact that national gross production is something around 5 times as large as back then, now there is no money for more buses.

I wonder where all that money really goes, we work also something around 3 times more each because of technology so there should be huge amount more services and wealth for people, but in reality there is less, something somewhere is somehow messed up.

These constantly rising prices must have something to do with it, but are they just the symptom or cause?

Anyway I hope to be self sufficient in few years, hopefully, so that I can be out from all that money madness.
 

bengalcatman

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Not a formal budget, but we know exactly what our expenses are and my wife and I manage to spend a lot less than we earn. Every weekend we take time to discuss upcoming expenses, anything either of us wants to purchase (toys or entertainment,) any potential expenses (cars breaking down etc.) and then we adjust accordingly. During the week we usually touch bases to see that things are going as planned.

We are in the middle of some work on our home and this has been eating a lot of our spare cash so we have had to be more careful lately. This has actually been very good for us as we have become a bit more frugal as a result: less eating out, more careful when shopping etc. 
 

denice

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I don't really have anything formal.  I know what routine bills are paid out of each check every month and I always pay bills first.  I pay all but the rent on line and check my bank acct online.  I check to make sure my pay was deposited and then pay bills right then.  
 

irinasak

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We keep a monthly spreadsheet with our income and expenses, but we never manage to stick to the budget. There are four major budget categories that eat all of what we earn:

- monthly rent (this is more than 80% of my salary)

- my boyfriend's bank loan (monthly pay)

- groceries

- the cats

The only two non-fix categories are our groceries and the cats' expenses and I am really trying to cut both of them, because we are trying to save money for our own house.
 

nebula

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We have a budget, you might say. Hubby gets paid twice a month, and I get pay day once a month (generally around the 28th/29th) He gets paid 15 and 30th from one job, and every other Friday from his other job.  We allocate what our "checks" cover. My check covers the majority of the bills (Water, gas, electric, phone, cable, DirectTV, Netflix and Groceries). His checks cover water and rent- (because they require cash or money order), and his check also covers our cleaning lady.

When one of our checks comes in, we budget that check. It is written out, okay "What needs to come out of this check?" We set aside that money (as an example, we set aside 2 weeks pay for our housekeeper), we get the cash for water/rent if needed etc. Once the essential stuff comes out , we decide if there is anything non essential we need. Things like, new towels etc would fall under this category. Then we each get our allowance, and the rest goes in savings.

We are currently working on Dave Ramsey's "7 Baby Steps" and the first is to save up $1000 for emergencies, and we are adding $1000 for pet emergencies, hoping we will never need it. Routine vet visits, shots, and so forth come out of our regular checks- not savings. The cat emergency savings is for things like, emergency vet visits (our ER Vet charges $200 a visit!) , emergency surgeries, etc.

I also tend to get 4 large disbursements a year, leftover from school money (grants & loans). This is when we plan huge purchases like a new car, or a new mattress if needed. Coming up end of Feb the big expenses are a new car( obviously the wreck got rid of ours ) ;) and we need a new mattress. We also if we have enough, plan to purchase tickets to visit his family in the UK. The refund comes end of Oct, Nov, Feb and March.If I take summer classes, it also comes end of July

Clothing tends to be budgeted twice a year in the Spring and Fall school money I get refunded (or tax return). And of course we always try to get baby girl SOMETHING when we have a little extra in LOL. Last time was a 7 foot cat condo..........
 

swampwitch

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Be careful, if you have a Pell Grant (I assume since you are in Texas), federal law specifies the grant money cannot be used to buy a vehicle. Many school loans have their own rules about how the money is to be spent, you might want to re-read the paperwork you signed. Usually nobody checks what the money is spent on, but if found out, you have to pay it back immediately. 
 
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nebula

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Be careful, if you have a Pell Grant (I assume since you are in Texas), federal law specifies the grant money cannot be used to buy a vehicle. Many school loans have their own rules about spending, you might want to re-read the paperwork you signed. Usually nobody checks what the money is spent on, but if found out, you have to pay it back immediately.
I have a pell grant but also a private loan which can be used on anything. That is what I am using on the car.
 

nebula

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Stafford loan rates are 4.66% for undergrads; you can get a loan for a used car in Texas for less than 2.5%, so using a school loan for purchasing a vehicle might not be the best financial option.
I can't with my credit history. The unsubsidised loan, which it is- requires no credit check.
 
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Winchester

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I also tend to get 4 large disbursements a year, leftover from school money (grants & loans). This is when we plan huge purchases like a new car, or a new mattress if needed. Coming up end of Feb the big expenses are a new car( obviously the wreck got rid of ours ) ;) and we need a new mattress. We also if we have enough, plan to purchase tickets to visit his family in the UK. The refund comes end of Oct, Nov, Feb and March.If I take summer classes, it also comes end of July
Did you not have car insurance on your car? The insurance should have (at least) given you enough money for a down payment on a used car.

Rick had to change our budget a bit. My health insurance increased quite a bit this year and so my salary decreased.
 
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nebula

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Did you not have car insurance on your car? The insurance should have (at least) given you enough money for a down payment on a used car.
Liability only.. I paid $1800 cash for the car. We don't want to go into debt to buy a car.
 

Willowy

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I don't have an actual budget but I know how not to spend what I don't have :tongue2:. I do have the approximate dates my bills come in/need to go out written in the front of my checkbook, or else if one gets misplaced I don't realize it and get a late fee (that happened once. . .never again! I had thrown the mail into the car and the bill got stuck between the seats and I didn't find it until I cleaned the car and it was late). So I can check my bill list against the checks I've written to make sure they all got out.
 

stewball

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I think I asked this last year, too, but we have new
people, so I thought I'd ask again.

We do have a budget and we try to stick as closely to it as we can. Last year, the grocery bill really kicked us, especially
the last quarter of 2014; the prices of things like beef, butter, and such went through the roof. Even 85/15 ground beef hit about $5 a pound around here. Vet bills increased for us, too, in 2014; BooBoo has been having more than his share of physical problems and has needed to be seen and get his shots more often. Thankfully, gas has decreased, but we kept the Gas budget amount the same because what goes down will go back up eventually; it's just a matter of when and how much. Our insurances have increased quite a bit, both homeowners and vehicle insurance. We spent more on the vehicles, largely because of tires and other maintenance. Other things have pretty much stayed the same, a slight increase, but nothing
major. Everything increased, but our paychecks. :sigh:

Rick finally finished our 2015 budget yesterday afternoon. We had to increase the grocery budget and the vet amount. Hopefully, I'll be able to keep the groceries in check to match the budgeted amounts, but some weeks it's a struggle. We don't buy a lot of packaged or convenience foods. And I do use coupons when I can. As for the vet, Boo needs a dental and I'm sure Ms. Pepe does, too. The rest of the kids should be OK and not need much of anything, other than their rabies shots, but we'll see. BooBoo is really having issues with arthritis and allergies.

What about you? Do you have a budget and do you try to stick to it? Have you noticed any increases for your family?
$5 for a pound of minced meat? Costs us about $10 at least.
 
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