Budget - Antsmarching.org Forums - Dave Matthews Band Discussion
Old 01-14-2012, 10:32 AM   #1
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Budget

I'm terrible with money. I'm looking for a good way to budget my money and figured I'd ask here and see what you all do to budget. So what's your method of budgetting your money?
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  • Old 01-14-2012, 10:41 AM   #2
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    Re: Budget

    I have a simple Excel spreadsheet that tracks my expenses. I have a column for fixed costs (rent, cell phone bill, gym membership, etc.), variable costs (only utility bill), and then my monthly spending.

    I total it all up at the end of the month to look at how much I spent and where the majority of it came and if there was any frivolous spending I could cut back on. The goal is to have the total decrease from month to month. Obviously this doesn't always happen due to things coming up, but it helps.
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    Old 01-14-2012, 10:44 AM   #3
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    Re: Budget

    Yeah I've been thinking about doing an excel spreadsheet. I just don't know what to put on it
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    Old 01-14-2012, 10:52 AM   #4
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    Re: Budget

    Cut out the hookers, blow and back ally dice games and you'll be good to go
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    Old 01-14-2012, 10:52 AM   #5
    thechad90000
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    Re: Budget

    But that seems like a good place to start.
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    Old 01-14-2012, 10:54 AM   #6
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    Re: Budget

    I just the other day downloaded a (free) budget app called loot. I figured that I would more likely keep better track of expenses if my tracker was with me all the time as oppose to an excel on my PC. It seems more like a banking app, but it works with budget too. This is my first month using it but basically I made a "deposit" of my monthly budget. Then I did a withdrawal of the expenses I have every month: rent, cable, netflix, electric bill, etc. Then every time I buy something (groceries, redbox, bar tab, etc) I enter it in and it subtracts from my budget. It's really great to finally see how much Im spending instead of just looking at my bank account online every once in a while
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    Old 01-14-2012, 10:57 AM   #7
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    Re: Budget

    Quote:
    Originally Posted by som3d3vil34 View Post
    I just the other day downloaded a (free) budget app called loot. I figured that I would more likely keep better track of expenses if my tracker was with me all the time as oppose to an excel on my PC. It seems more like a banking app, but it works with budget too. This is my first month using it but basically I made a "deposit" of my monthly budget. Then I did a withdrawal of the expenses I have every month: rent, cable, netflix, electric bill, etc. Then every time I buy something (groceries, redbox, bar tab, etc) I enter it in and it subtracts from my budget. It's really great to finally see how much Im spending instead of just looking at my bank account online every once in a while
    See this is what I normally do and I'm pretty sure a lot of money just goes overlooked on my part. I'll check out that app.
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    Old 01-14-2012, 11:04 AM   #8
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    Re: Budget

    We use this:

    https://www.mint.com/

    It automatically categorizes your transactions so you can see where your money is going with minimal effort.
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    Old 01-14-2012, 11:07 AM   #9
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    Re: Budget

    First, find out where most of your money is going. Second, dial in on what you spend money on, and if adjustments need to be made, make them. Third, start saving that money you would have spent on food, beer, weed, etc. Remember, there is only two things you can do with money--spend or save. That simple.
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    Old 01-14-2012, 11:08 AM   #10
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    Re: Budget

    mint is fucking awesome
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    Old 01-14-2012, 11:09 AM   #11
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    Re: Budget

    For one month, in an excel spreadsheet, keep track of every single cash outflow. I put the date, where i bought it, the price and a description. You can group common items like groceries, bills, eating out etc. At the end of the month, you have a good idea of your baseline spending habits. By keeping track of everything you spend you can really see how fast those little purchases of 2 bucks here 5 bucks there add up. You can work on reducing this type of frivolous spending each month.

    I also have formulas to show my take home pay less the total expenses for the month. Any excess you have either put in savings/ira etc.
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    Old 01-14-2012, 11:12 AM   #12
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    Re: Budget

    MPC--Marginal Propensity to Consume...keep that in mind. More money is not ever the problem. It is all about how you spend it.
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    Old 01-14-2012, 11:34 AM   #13
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    Re: Budget

    Quote:
    Originally Posted by thechad90000 View Post
    I'm terrible with money. I'm looking for a good way to budget my money and figured I'd ask here and see what you all do to budget. So what's your method of budgetting your money?
    having enough of it
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    Old 01-14-2012, 12:16 PM   #14
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    Re: Budget

    Spend less than you make.
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    Old 01-14-2012, 12:22 PM   #15
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    Re: Budget

    Quote:
    Originally Posted by dre2142 View Post
    having enough of it
    That is not the right answer. If that was the case, why do people that win the lotto spend their fortune? If you are given or earn more money, it is likely that you will just spend/waste that extra money.
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    Old 01-14-2012, 12:46 PM   #16
    thechad90000
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    Re: Budget

    Quote:
    Originally Posted by dreamingtree041 View Post
    We use this:

    https://www.mint.com/

    It automatically categorizes your transactions so you can see where your money is going with minimal effort.
    Mint is definitely something I don't like using.
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    Old 01-14-2012, 12:49 PM   #17
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    Re: Budget

    Quote:
    Originally Posted by gravedigger07 View Post
    First, find out where most of your money is going. Second, dial in on what you spend money on, and if adjustments need to be made, make them. Third, start saving that money you would have spent on food, beer, weed, etc. Remember, there is only two things you can do with money--spend or save. That simple.
    Quote:
    Originally Posted by abbotter88 View Post
    For one month, in an excel spreadsheet, keep track of every single cash outflow. I put the date, where i bought it, the price and a description. You can group common items like groceries, bills, eating out etc. At the end of the month, you have a good idea of your baseline spending habits. By keeping track of everything you spend you can really see how fast those little purchases of 2 bucks here 5 bucks there add up. You can work on reducing this type of frivolous spending each month.

    I also have formulas to show my take home pay less the total expenses for the month. Any excess you have either put in savings/ira etc.
    I think these are something that I should do more than anything else. I always nickel and dime shit in the store and before I know it I'm out of cash. It's not like I'm going broke or anything but I just really started to realize how much money I waste and so I really need to start saving.
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    Old 01-14-2012, 02:06 PM   #18
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    Re: Budget

    i always press "no receipt" when i go to the atm because i'm scared to see what my balance is
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    Old 01-14-2012, 02:38 PM   #19
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    Re: Budget

    Quote:
    Originally Posted by laura22 View Post
    i always press "no receipt" when i go to the atm because i'm scared to see what my balance is
    I do this too.
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    Old 01-15-2012, 06:44 PM   #20
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    Re: Budget

    I just pay all my bills and buy whatever I need (gas, groceries, etc), eat out minimally and only buy "want" things occasionally and when I really feel like I have the extra money. So I don't go out of my way to budget, per se, but aside from bills, which are fixed costs/not up to me, I'm always shopping for the best prices on everything else, from again, gas, groceries, restaurants, and the wants. And I save whatever I can and put it away in between the times of year when I know I'm spending a lot.

    Don't know how sustainable or savings-effective that method is long-term, but it works for now.
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    Old 01-15-2012, 07:03 PM   #21
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    Re: Budget

    You could have two checking accounts. One for the bills that are fixed every month and then another for your spending money. I know people who do this with a lot of success. Once you find the balance you want you can start saving for retirement (even if you have a pension).
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    Old 01-15-2012, 10:47 PM   #22
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    Re: Budget

    Seriously, if I stop drinking during the week (Mondays, Wednesdays and Thursdays... love college life) I'd probably save close to $40 a week......

    I might need to consider this.
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    Old 01-15-2012, 11:13 PM   #23
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    Re: Budget

    I pay my bills first.
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    Old 01-16-2012, 06:57 AM   #24
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    Re: Budget

    I have this thing where I always buy way more food than I need and waste so much money doing it because either the food doesn't get eaten or the dry stuff that goes in the pantry gets pushed to the back and never used because I just keep buying more shit. Last night I inventoried the entire contents of my pantry and fridge. Turns out all I need to buy for the week is tomatoes, lettuce, cucumber, bread and ground beef and I have an entire menu for the week for a family of 4. I plan on doing this every week now before I do my grocery shopping. I'm thinking I'm going to save a ton of money in the long run!
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    Old 01-16-2012, 07:43 AM   #25
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    Re: Budget

    my plan for budgeting:

    keep track of my available money.
    keep track of my absolute, monthly expenses.
    do not spend more than i have.
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    Old 01-16-2012, 09:24 AM   #26
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    Re: Budget

    Quote:
    Originally Posted by DynastyDrummer1 View Post
    Seriously, if I stop drinking during the week (Mondays, Wednesdays and Thursdays... love college life) I'd probably save close to $40 a week......

    I might need to consider this.
    Only $40 for three nights of drinking? Impressive.
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    Old 01-16-2012, 09:30 AM   #27
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    Re: Budget

    Quote:
    Originally Posted by DoOrDoNotNoTry View Post
    Only $40 for three nights of drinking? Impressive.
    He must be drinking country club 40's
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    Old 01-16-2012, 09:31 AM   #28
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    Re: Budget

    Quote:
    Originally Posted by decemberlov View Post
    I have this thing where I always buy way more food than I need and waste so much money doing it because either the food doesn't get eaten or the dry stuff that goes in the pantry gets pushed to the back and never used because I just keep buying more shit. Last night I inventoried the entire contents of my pantry and fridge. Turns out all I need to buy for the week is tomatoes, lettuce, cucumber, bread and ground beef and I have an entire menu for the week for a family of 4. I plan on doing this every week now before I do my grocery shopping. I'm thinking I'm going to save a ton of money in the long run!
    Yeah thats where I overspend too. Try to only shop one week at a time too. We used to try and get two weeks bought and it just led to waste.
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    Old 01-16-2012, 09:45 AM   #29
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    Re: Budget

    Quote:
    Originally Posted by davehead86 View Post
    Yeah thats where I overspend too. Try to only shop one week at a time too. We used to try and get two weeks bought and it just led to waste.
    It's really hard to do 2 weeks worth of shopping without wasting stuff especially if you're using fresh produce.

    I was amazed at how much stuff I had to put meals together. I usually buy the same shit over and over again because I don't remember if I have it at home or not. I had 4 packages of taco meat seasoning and I would have bought more if i didn't make that list Seriously you should try it. I'm going to try and make a habit of doing it every Sunday before I do my shopping.

    I also use to never eat leftovers but we moved into a new house and my microwave was too big for the counter so i stuck it in the basement....I realized leftovers are way better when you reheat in the oven and not the microwave!!
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    Old 01-16-2012, 10:35 AM   #30
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    Re: Budget

    Quote:
    Originally Posted by thechad90000 View Post
    Mint is definitely something I don't like using.
    why? same people that make TurboTax
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