We budget every month - we have a yearly Excel sheet with a page for every month. We get paid twice a month so it's split in half, with our current income added to our paychecks, and then a list of where we need to put the money - bills, savings, wants, etc. Most months we honestly get down to the penny and I love it, we know exactly where our money is going.

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-Crystal-
Our financial motto: Needs vs. Wants

Budgeting is only part of a financial plan. Really you should be cash flow projecting out for a year. The budget is really too narrow.

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Budgeting is an essential tool for us insurers towards planning our futuristic promos. Now, if we wish to make the odd ends meet, we need to study the market & develop products that tend to be cost-effective for all the economic-segments.

Again, developing the ideal product is a job that is only half done unless we could back it up with a strong follow-up service. Budgeting in connexion with each of our product-lines is therefore an absolute necessity in today's dynamic world where products & services are credit or discarded solemnly upon their risks, timeliness & cost!

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I sure hate the word "budget." If you are budgeting in the traditional sense I think you're spending too much time counting pennies. It's a waste of energy. However, I do think that you should understand your finances so you can make informed decisions about how you spend your money.
The way we budget is we only used our debit/credit card for purchases... that way every purchase is tracked electronically. Then, periodically (once or twice a year) we print three months of expenses from our banks financial statements and categorize our expenses. We evaluate where we're spending our money, if we're spending more or less than we were before, and then make small goals to improve in one or two areas. This method of budgeting seems to work well for us and we'll probably continue doing it.

^ That's a very good method, but budgeting on a regular basis is not a waste of energy. We have a budget set up that we work with twice a month when we get paid and it's really helped us prioritize where money is going and it's helped us pay off debt quicker.

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-Crystal-
Our financial motto: Needs vs. Wants

2 times a month is a good idea...keeps u current

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I'd raise my hand for those of you who're gonna vote out ill habits like smoking as a means to enhance budget-cuts!

-Jeff

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I try to budget everything out at the very beginning of the month so I am able to stick to a strict regiment. So far it hasn't failed me

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Payday Information

Instead of budgeting, I simply try to earn more.

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Never spend your money before you have it. -- Thomas Jefferson

I like spencers idea of just making more money...but unfortunately its tough for me to do right now. I use a budget, every month.

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New graduate with an emphasis in debt counseling.