How do you budget?

Question

I would like to know how you handle your budget? Do you set a monthly budget and live to the budget? Do you set a yearly budget including things like car insurance, liscence plates, back to school and Christmas? Just curious to what level of detail the general population manages their finances. Thank you.

Answer 1

You set up a monthly budget. You take into account all things that you spend money on. You need to track the actual expenditures to what you have budgeted. If you are spending more in a particular category you need to decide if that is OK or not. If not cut back spending for those things. Savings into an investment account should be part of your budget.
I prefer keeping my finances on Quicken. I can set up the monthly budget and I can also keep track of my checking accounts and credit card by category. I can then print a report that tells me exactly where I stand relative to my budget. Quicken deluxe runs about $50

Answer 2

If you will go to a Office supply house and get a "Dome Home Budget" book, (About $3.00 to $4.00) and use it, I think you will be pleasantly surprised at how easy it is to manage your money. Stick with it and it also enables you to plan ahead, save money, and put it back for x-mas, etc.

Answer 3

how do I create a worksheet to show spending