First time budgeter HELP?

Question

well heres the story.. I am scared to death.. due to recent circumstances I have now aquired a home it is a family home and I didnt want to loose it awesome deal 4 yrs left and its mine.. sure ive paid bills before but I have never had to budget .. Ive never been a thrifty kind of person which is why i have no savings .. Now I want this house and I have it starting next month but i am going to have to learn how to budget and pinch pennies for a while .. any suggestions or sites would be helpful

Answer 1

if you give me an idea of income and expenditures I can help...I've learned the artform of budgeting and would be happy to share!

but if you don't wish to divulge, I'll work with examples...

look for areas you can cut- car payment? is it brand new? you may wish to go to the dealer and talk about trading it in for a lower payment...

groceries....coupons!! and really watch the sales circulars- I'm fortunate and have several grocery stores in my immediate area, so I shop where the sales are...

"extras"...do you have premium cable? cut it back...you are probably only watching 6 or 7 channels anyway

general household things like electricity and water usage...(I have been dubbed the light and water nazi of my house)

obviously, entertainment costs have to be at the bottom priority- I've learned how to make the best of free things- parks, beach...and have developed a fondness for thrift stores and yard sales...

Good luck and enjoy your new home!

Answer 2

Make a list of all your bills. Categorize them -- house & utilities, car, credit cards, etc. Remember all those bills that are paid annually or semi-annually -- like insurance or car registration.

For a week or two write down everything you spend money on. This will show you where you are wasting money and don't even realize it.

Go over your phone, cell phone, cable and other bills carefully. Do you need call waiting or other extra fee services? Are you paying for wire maintenance -- a wate of money. Do you need those premium cable channels or the faster internet service? Nickle and dime these bills to death. It really adds up.

Another place to save money is groceries. Always make a list and stick to it. Plan menus for the week based on the sale ads.

Answer 3

You really don't need a site for this, as you have to sit down and list all your bills starting with: mortgage, utilities (electrical, gas), property taxes, exterminators, re-cycling - check with your town as some towns only want you to purchase re-cycling bins/bags from them or they will not pick it up, telephone, cell phones, cars - payment, insurance, maintenance: oil changes, tire rotation, commuting expenses, food, clothes (especially if you work), cable tv, computer access, credit cards. Basically, look at all of your bills and use your income at the top and deduct monthly expenses. Stick to your budget if you want to pay off your mortgage.

Here's some tips for saving money.

Answer 4

keep track of your receipts and every cent you spend for three months, make an excell spreadsheet to figure out what goes where, then you'll be able to figure out a better budget. for now you should be able to have what you make each month and each months bills.

Go to msn money boards, the women in red are beyond amazing when it comes to helping you figure out a budget. They'll ask for all of your expenses and all of your income and start looking down the list to see what you appear to be spending too much on.

Answer 5

get a ruled piece of paper. make columns: date due, due to, total due, minimum, paid

now this lets you keep track of when everybody should be paid, how much you owe, and how much you can pay over the minimum. keep all your bills together (I use the phone bill envelope and write 9/2007 on the outside) paying your bills on time is the most important thing to keep your credit rating A1.

Answer 6

Check online, there are a great number of free excel based spreadsheets that can provide you with a budget tool.