How can I make a spending budget that works?

Question

I can make a budget and stick to it...or atleast i think i can. I've never been able to put it in affect since my boyfriend lost his job. I try to place him in it but you just never know what he'll need money for. He's looking for a job. But only God knows when he'll get one.

Answer 1

First, calculate your monthly income.

Second, deduct expenses. This can be found by looking at your bank statements.

How much do you spend on food on weekly basis?
What is your monthly utility bills (gas, electric, cable, sewer, etc)?
How much do you spend on maintenance on your car (for oil changes, take the monthly average. For example, every 3 months a person does an oil change. So divide that bill by 3).
How much do you spend on gas for the car on a monthly basis?
How much do you spend on entertainment (going out to movies, see a play, buying/renting DVDs, buying music, etc) each month?
How much do you spend on clothing each month?
How much are you paying for your mortgage on monthly basis?
Do you have any other loans you are paying each month?

There's probably more things you are paying. Do not include credit cards. Instead look at your credit cards to see what you are spending on. The point of budgeting is pinpoint all the areas you are spending on and then make changes.

Whatever left over, this is the amount you have left over to use. For some people, this number is in the negative because people are spending above their means (thanks to credit cards). So, if you want to save money, cut back on whatever you are spending or look for something cheaper. "a hamburger is a hamburger no matter where you buy it."

If you want to start saving for retirement, then pay yourself first before spending it. This can be done by doing an automated bank draft into your investments. This is the best way to secure your retirement.

Answer 2

I think it's really admirable that you take care of your bf (it's usually the opposite... I just lost my job (which I hated anyways, so I don't feel that bad about it) and my bf is taking care of most of the bills... although I did save up enough to be fine for a few months while looking for another job).

Anyhoot, don't give your bf money for frivolous things... only what is needed. Also, how often does he apply to jobs? Sometimes a person applies to 1 job every 3 days and considers it "hard work". Just make sure he's not using you and your being smart about the money you give him. If you have time, you could also help him out... I mean, with searching online (or the newspaper, etc) and showing him jobs you think he should apply for since he could miss a great opportunity.

Answer 3

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Answer 4

Test the BF's skills on the road and get yourself on a written budget you control, all factors. Put his pic by the toilet, because that is where you are flushing your money.