Saturday, November 19, 2005

 

The Budget

My budget period runs from the 10th of the month to the 9th because I get paid on the 10th and the 25th. The 10th paycheck is for most of the bills, the food and the gas. The 25th is for rent and car insurance. Of course this is all theoretical. I am currently using the Primer budget available from You Need a Budget (YNAB), once I have reached my savings goal, ($2500) I will definitely be graduating to the full-blown version of YNAB.

This month's budget is in the sidebar, what I like about YNAB is that it divides your savings goal over a time period that I can specify, right now its 12 months so my goal is $175/month. Then YNAB takes that $175 out and I have to allot my expenses from whats left. I like this approach since I don't miss what I'm not budgeting with. YNAB also keeps a running total of how much is left in your budget which I find helpful (of course it means I have to remember to input my daily expenses). One thing that I do differently than is suggested by YNAB, is the "available" box. YNAB suggest that you budget every cent so that there is nothing available. I suppose I could put those funds in the "personal" box, but I like to leave it as available so that it is apportioned separately and to help cover in case I go over in any other categories. My goal is to have funds left in the "available" box at the end of every budget month that I can apply as an extra debt payment every month.

So thats our budget, I'll try to post it each month and hopefully that little box that says "left to save" will get smaller and smaller every month.

1 Comments:

Anonymous pfadvice said...

Welcome to the world of financial blogging...look forward to reading your posts.

8:24 PM  

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