Help! I Need to Create an Effective Budget That We Can Stick To.

Updated on October 18, 2008
S.K. asks from Liberty, TX
10 answers

Has anyone found a good, safe, and free website that will help me create a budget? I need something easy but thorough. OR, if there is a good book that will help me, I'm open to that.

Any other budgeting advice would be great!

Thanks!
S.

1 mom found this helpful

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S.S.

answers from Wichita Falls on

Mary Hunt - Total Money Makeover (the book).

First - write down every penny you get and where from, and every penny you spend this month and what you spend it on. Then, put the information into a spreadsheet. I like - no love - the free spreadsheet at http://www.mdmproofing.com/iym/products/spending-plan/

Then look for the holes.

I like the websites hillbillyhousewife and living on a dime, too... for cheap ideas. LOAD is running a $10 ebook special on their cookbook - it is EXCELLENT.

S.

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M.C.

answers from Dallas on

My husband and I have tried various plans over the years, and we've found that the simplest is the best--use cash. Seriously, I know no one does it anymore, and it was an adjustment, but it gets around so many calculations, systems, etc. Sit down together and decide how much you can afford to take out of the bank each week. Put that cash in your wallet. When you have no more cash in your wallet, you don't get to spend any more money. No justifications, no exceptions--eat what's in your pantry 'til next week, even if it's not your favorite. Within a week or two you'll learn to think in advance--if you know you're meeting someone for lunch on Thursday, or you need to buy a birthday present, you'll make sure you have enough left in your wallet when the time comes.

I, personally, found it way too complicated to keep track of a budget with multiple categories and sub-categories, and I'm not disciplined enough to enter all of my receipts into a spreadsheet everytime I go to BigLots ($1.25 on scrapbooking; $15 on diapers; $24 on groceries.... you get the idea, and just from one trip to the store).

I think that different people's brains work differently, so what works for one might not work for another. My husband and I aren't big ones for math, so the simpler the better for us. I recommend you try a couple of different systems 'til you find what works for you. GL!

1 mom found this helpful
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A.C.

answers from Dallas on

I'm sorry, but the Dave Ramsey thing---I think it's SOOO totally overrated! I hear about it all the time, like it's a cult (ha). Honestly all he does is real basic common sense, stuff I learned in my 10th grade Free Enterprise and Business Math classes. The radio show is nothing but commercials for "approved" businesses from real estate agents to investment reps....approved means they're sponsoring the show, people. However, if you're in serious trouble, that may be something to help you with. It's just hard to relate to someone that's got $20k in creditcard debt alone. I did check out the "monthly cash flow plan" from Ramsey and thought it was a good basic outline but too general (left out lots of stuff I'd like as sub-catagories) and I refuse to pay anything for the "real" outlines (10/month or something). I also checked out the family budget planner (spreadsheet) that was free that was mentioned by the ONE person that was saying something other than Ramsey. That was free, and very very detailed! I liked the main category followed by the subcategories underneath it, as it's more my way of thinking. However, I'm old and not very up to speed on working with spreadsheets: I prefer my trusty dayplanner, so I DID go through and tweak my current budget with a few ideas using this spreadsheet.
What I would personally suggest, or at least what's easiest for me is this: look back in your checkbook or online banking, and at the credit cards (if any) that you've used and go back 3 months. Can you get a good idea of what you spend already, on average? I would list out my personal expenses, every one of them, and have them in a category (this is where that spreadsheet may come in handy, because it's so detailed it'll help you NOT miss some things you spend money on). Once you know what you spend, on average, then you can know what is TRUE about where your money goes. I mark my "solid expenses" with a * (what I call solid expenses are the things that never change: a cellphone plan with the same monthly payment over and over, your mortgage, insurance, and car payments, etc). The expenses with no * means they are subject to change (electric, gas, etc).
Then ask yourself what you can do to possibly lower those expenses that can change (coupons, sales, switching plans or providers, etc). For example, I've always been on Cingular's cell plan, my husband was always on ATT. They merged, and they also provide plans with "add a line for 9.99" and free cingular to cingular calls (nearly everyone we know is on cingular-att and if not, we'll just call them from home). We cancelled my husband's plan since his contract period was up anyway, and moved him onto my plan. That one move saved us $60/month (and my mother is also on my plan b/c she can't afford a phone).
Add up what your expenses are and subtract that total from your income and see what you've got. Is it acceptable or does it need some tweaking? I take out 10% for savings, 10% for tithes, and try to live just on 80% of my income. When I know what that is, I subtract the necessities that don't change (car payments, etc) and then I know what I have to work with for the expenses that are subject to change. How can you get the numbers (for things like food and recreation, etc) to fit for you with the leftover money. If they don't fit, or you want to improve your standing, then brainstorm ways to fix that problem after you've finished your first draft of a budget.(First, what could you cut out or back, how to cut back, then how to get a little extra money whether it be that my husband picks up some overtime or I get a part time job, or whatever). It sounds like a lot, but that's just because you're just starting. Pray and ask for wisdom and understanding as you do this, and for creative ideas to help your family.
One more thing: we have a guest room with a closet we never use, and I take things as possible (as my son grows out of things, etc) and post it on craigslist, OR when they have garage sale days in your neighborhood you could set it out then.....though I think I fair a little better off craigslist).
I know this is long, but if you have any other questions, feel free to message me.

1 mom found this helpful
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R.J.

answers from Dallas on

mytotalmoneymakeover.com

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M.F.

answers from Dallas on

Dave Ramsey. He has some downloadable forms at www.daveramsey.com, and you can learn about budgeting with his book called Total Money Makeover. Also, several churches in the area should offer budgeting help based on his plan (Financial Peace University), and one in particular, Denton Bible Church, offers budget counselling for some really great hands-on help getting the budget started, and, most importantly, making it "real" so you don't keep falling off the wagon :-)

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M.B.

answers from Dallas on

Dave is the way to go. Listen to his radio show. His advice to real people really cuts to the quick of what a "budgeting problem" really is. His forms are great. I've seen his Financial Peace University; it's wonderful.

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T.W.

answers from McAllen on

Google Dave Ramsey. He travels all over the world, he comes to alot of churches to tell families about how to get on a budget. He has CD's that you can order. Hope this helps.

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M.M.

answers from Dallas on

We use Microsoft Excel. We have a ton of sub-categories and we track every penny using Excel. If you want me to email you a sample budget on Excel, I've done it for some friends of mine and I can send it to you also. The key is- track every penny- write everything down. Have a budget before the month begins. If this sounds familiar, it's because yes, I'm a Dave Ramsey listener but my husband and I have adapted it to fit our specific needs and we are completely debt free except our house. We've had specific budgets every month now for 32 months!!

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R.

answers from Dallas on

Dave Ramsey-Total Money Makeover! Also, he comes on every day starting at 1:00(I think) on 570 AM KLIF...HTH, it has changed our lives.

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E.W.

answers from Dallas on

You are probably tired of hearing it by Dave Ramsey is the way to go. You can even look on his site and see when classes are, they are all over the place. The Total Money Makeover class will really help you a lot! My husband and I have a pretty good grasp on our finances but I still a lot away from the class. We are in the middle of the 13 week class at our church and it is just awesome!

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