Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (25) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: FriedaChopsticks Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5056  
Subject: Re: Budgeting Date: 8/18/2003 11:35 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Monica,

I never used to have a budget, but I had a rough idea where my money was going. I didn't say "oh, I'm $50 over budget in groceries this month", or anything. But I knew to cut back on X if I spent Y.

One month I realized that I had a little more outgoing than incoming.
I had used Quicken as my electronic checkbook register, but didn't really do anything with it. So I started running reports on where I was spending my money because I had no idea where the leaks were in my financial canoe. Taking an honest look at my expenses showed that I was taking out too much cash each week and that I wasn't prepared for major medical costs not covered by my insurance. Oops.

Sitting down and creating a budget helped me realize what I *really* spend my money on vs. what I *thought* I spent my money on. It was a big difference, and I thought I was pretty good with my money.

HOWEVER, I know quite a few people who don't have a budget and they are fine. They sort of keep it in their head. So, YMMV, of course.

Frieda
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (25) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
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.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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 "#1 Media Company to Work For" (BusinessInsider 2011)! 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.
Advertisement