Do you have a budget?

[Anonymous]

Yes, we have a budget. When we eat out on vacation, that falls into the category of vacation, not eating out.

Yes, I stick to my budget if I hit the limit. In complete honesty, I don't need to financially. But I think it's good for me to want for things sometimes - to have anticipation, to go without wants sometimes, to be patient, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Not anymore. We've proven frugal and we're saving on target. We have a target savings of 4k a month. As long as we hit that we're happy. We track and try not to overspend.

What is your HHI?

170k

[Anonymous]

Yes, both tracking and a budget.
Normally we stop spending when we reach our allotment, but we make tweaks and adjustments between categories.
We got disciplined when our HHI was reduced by one parent exiting the workforce. But the measure of control over your priorities it gives you is addictive. We'll continue with a budget even if our HHI drastically increases.
Eating out on vacation is part of vacation.
We didn't use a budget till our 40s.

Our HHI is well below everyone else who has responded on this thread so far.

[Anonymous]

No budget, no real tracking aside from savings. We have no debt aside from mortgage and we are big savers. We naturally live below our means and are well positioned financially for the future so if we want to splurge on something we do so happily. We will likely do more tracking and perhaps budgeting when retirement rolls around.

[Anonymous]

I budget all my fixed expenses and savings and known discretionary expenses to see what I have left to spend each month. I don't budget into categories, so if I spend too much boozing, I have less for dinners out in the future.

I track my spending by category so I can get an idea of where my money is going. Groceries, dinners out, entertainment, clothing, school, fitness, transportation, health, etc. I find it interesting.

I'm a single mom with an HHI of just over $100K and I have a North Arlington mortgage, so I can't just spend freely. I have to sacrifice discretionary to make sure I'm meeting savings goals.

[Anonymous]

Anonymous wrote:Not anymore. We've proven frugal and we're saving on target. We have a target savings of 4k a month. As long as we hit that we're happy. We track and try not to overspend.

Exactly the same, except we have a higher savings target.

[Anonymous]

Anonymous wrote:No budget, no real tracking aside from savings. We have no debt aside from mortgage and we are big savers. We naturally live below our means and are well positioned financially for the future so if we want to splurge on something we do so happily. We will likely do more tracking and perhaps budgeting when retirement rolls around.

+1

That's us as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not anymore. We've proven frugal and we're saving on target. We have a target savings of 4k a month. As long as we hit that we're happy. We track and try not to overspend.

What is your HHI?

170k

i


You save a lot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Not anymore. We've proven frugal and we're saving on target. We have a target savings of 4k a month. As long as we hit that we're happy. We track and try not to overspend.

Exactly the same, except we have a higher savings target.

Seriously? How much do you earn/ save?

[Anonymous]

No budget. HHI $250K. We are not extravagant, so we don't really need one.

[Anonymous]

+ 160k

We have a budget that we track every couple of weeks. If we go over on any category, we "move" the expense on Quicken to the next month instead of forgetting. This way at the end of the year we only spent what we had bugetted for each category (in theory) .

[Anonymous]

Yes, definitely have a budget. HHI 195k.

I agree with the PP who wrote about a budget just telling your money what to do. I also listen to Dave Ramsey - and I'm a 30 something year old Democrat and black woman. His financial advice is solid. I truly believe that no matter how much you make, you have to know exactly where your money is going.

When we spend our allotment for a category, we generally stop spending. There are times when we tweak it and move money around to cover unexpected expenses, etc. (Not just serious expenses, but fun ones too, like brunch with friends). But, we can do that comfortably b/c we're not overspending every other month.

I'm very surprised at the amount of people who don't have a budget that responded.

[Anonymous]

I use YNAB and it tracks every dollar spent/saved. I have a rough budget, but I don't stick 100% to it. I usually move money around, if I overspend in one category, but underspend in another, I move that money to where it is needed. My biggest issue is food, either groceries or dining out. I just can't keep that down. But, it helps me see where the money is going.

[Anonymous]

Anonymous wrote:Yes, definitely have a budget. HHI 195k.

I agree with the PP who wrote about a budget just telling your money what to do. I also listen to Dave Ramsey - and I'm a 30 something year old Democrat and black woman. His financial advice is solid. I truly believe that no matter how much you make, you have to know exactly where your money is going.

When we spend our allotment for a category, we generally stop spending. There are times when we tweak it and move money around to cover unexpected expenses, etc. (Not just serious expenses, but fun ones too, like brunch with friends). But, we can do that comfortably b/c we're not overspending every other month.

I'm very surprised at the amount of people who don't have a budget that responded.

How do you just stop spending when you reach your allotment? What if you needed something?

[Anonymous]

Poor here. I track and budget.
$500 to cover the condo (rented out).
$500 student loans.
$500 for mortgage abroad.
About $700 for living. I only pay cell phone bill and car insurance. All else is food and shopping.