How to Create a Budget

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > How to Create a Budget

Knyteguy: Jul 6, 2005; YES to love
NO to shirts; Toilet Rascal

Budget for June/July. This budget will actually pay off our television and credit card in June, but the savings in July will likely go towards moving expenses.

code:

INCOME	
Wife	1906.666667
Me	5026.666667
TOTAL	6933.333333

EXPENSES	
TRUCK	260
INSURANCE	80
CABLE	250
CELL PHONE	100
GAS	300
FOOD	400
TAXES	1300
CIGARETTES	100
BIRTH CTRL	25
ALHAMBRA	25
TV	700
CREDIT CARD	1400
SAVINGS	0
VIOLIN	60
POWER	150
WATER	40
TRASH	30
MISC	0
RENT	425
MISC DEBT PAYDOWN	1288.34

TOTAL EXPENSES		TOTAL LEFTOVER		SAVINGS %
6933.34		-0.006666667		0
[code]

^ This is our budget for the next two months.  This will allow us to pay down a majority of 
our debt, with the misc. debt paydown category likely going towards our truck.  

After that here is our expected budget:
[code]
INCOME	
Wife	1906.666667
Me	5026.666667
TOTAL	6933.333333

EXPENSES	
TRUCK	260
INSURANCE	80
CABLE	250
CELL PHONE	100
GAS	300
FOOD	400
TAXES	1300
CIGARETTES	100
BIRTH CTRL	25
ALHAMBRA	25
TV	0
CREDIT CARD	0
SAVINGS	1500
VIOLIN	60
POWER	150
WATER	40
TRASH	30
MISC	0
RENT	1800
MISC	513

TOTAL EXPENSES		TOTAL LEFTOVER		SAVINGS %
6933		0.333333333		0.216346154

I've overestimated almost every expense just to be sure; my wife will be the only one with a cell phone since I have a work phone. The first budget includes our exact rent, but our second budget does not. My sister will likely be moving along with us to a bigger house (we live together now), but I don't want to budget for her quite yet in case she changes her mind. We might cut cable and get prime/hulu/netflix but we really like HBO for Game of Thrones. The reason we're moving is because the quality of life increase will be worth it for us. The savings is an emergency fund for now, and we'll switch the budget to retirement after around 7-8 months of saving. There may be adjustments needed to savings and misc but these are our goals.

E: :downs:

typos

E2: Also I know we probably shouldn't move without a savings backup, but seriously gently caress the house we're in. It's way too small for 3 people and all of our animals.

Knyteguy fucked around with this message at 23:09 on May 18, 2013

# ¿ May 18, 2013 22:54

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# ¿ Apr 27, 2024 14:22

Knyteguy: Jul 6, 2005; YES to love
NO to shirts; Toilet Rascal

OrangeKing posted:

Just wanted to chime in that I've been using the demo version of YNAB, and it's been like an epiphany. Once you get all the dollars doing their own jobs, everything seems so much easier, and you feel like you have so much more control than when you have the illusion of flexibility that comes without a budget (and it is just an illusion). If anyone who doesn't budget yet comes across this post, I highly recommend YNAB - you know, because You Need A Budget.

Also want to agree here. It's incredibly powerful and makes me feel really safe when I actually do spend something, because it's accounted for in my budget. Plus one license is good for multiple computers so we don't have to purchase separate copies for all the computers in the house. I was using Mint before and it didn't help me budget at all. It beats a spreadsheet by far too in case anyone is wondering.

# ¿ Jun 5, 2013 03:15

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > How to Create a Budget