What is the best way to write and keep a realistic budget?

Question

Okay so I make enough money each month but I'd like to save more then I currently do...which is why I want a good budget..

Answer 1

Well, you could use the Excel worksheet I've created. It shows the budget by month and year on one page.

If you'd like a copy, just email me! I'm more than happy to share it!

Answer 2

First, keep track of all of your expenditures for a couple of months using personal accounting software like Quicken or Microsoft Money. This will let you know where you are spending your income, both on fixed expenses (rent, utilities, car payments) and discretionary expenses. Once you figure out what your monthly expenditures and/or recurring bills are, you can project those expenditures 3 or 4 months in advance, which is esentially what a budget is. The next step is to start "paying" savings like it's a regular expense, almost like a bill. Even better, if you can get the money automatically deducted from your paycheck into a savings account, it'll get to the point where you don't even miss it, and you'll be building up your savings at the same time. If you wait to save whatever is left over, you'll find a way to spend all of that extra money and not save anything.

Answer 3

Dave Ramsey has a really good discussion of budgeting in his book "Total Money Makeover". DH & I have been using it for nearly 3 yrs. Most libraries have a copy or you can get it on his website or in most bookstores.

Good Luck!

Answer 4

That's easy, write fewer checks.

Answer 5

use microsoft excel