UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: TMFRunkle Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311074  
Subject: Re: Budgeting Date: 4/29/1998 10:13 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I don't think budgeting is off topic at all. I had a very strict budget when I was in college, my wife and I were living off jobs that paid barely above minimum wage in the DC area (not an easy thing to do). We had our budget down to pennies!

As time went on, we fell out of it, however, I decided to try budgeting again after reading "The Millionaire Next Door". Budgeting takes time, and I believe that is what happened to us, we lost the time for setting it up. In that line, I discovered that too much of my time was in use if I could not free up a few hours per month to set up a budget.

Our initial figures came from Quicken, which I put in a spreadsheet. From there, each pay period we project the expenses. If I don't have time (which I didn't the past few weeks because of a graduate course I was taking), I set aside an extra amount of money aside and hide it in savings or whatever.

The system works. Also, as the budget begins, you discover ways to cut costs quickly. After the first round, it gets a little difficult though. My biggest savings was from bringing lunch to work and not eating breakfast at Mc Donald's on the way to work. Also, we switched long distance service.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.