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Do you Keep a Budget?

by helenonthesofa (follow)
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It's well regarded, that a trick to saving money is to keep a budget so that you know how your incomings will be spent with the aim of your outgoings being accounted for, so that you are left with some money at the end of the month to save. However, it can be a real change in how you look at your personal finances for many, and takes discipline to budget effectively.



how to budget to save money
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Do you keep a budget? How do you make it work for you? Do you find it easy?

We'd love to hear your tips


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Top Answers
I don't actually keep a budget but I enter everything I spend onto an accounting package.

No idea why -=I used to do it when I had a business for many years, but now I am on my own and my brother, an accountant, cant understand why I still write everything down!

So, no budget for me but I can tell you how much I spend on most articles/items!

by Finy
What a good idea!
The fact that you'd know how much you spent every month is still a very good way of monitoring spending, good for you!
but it is not of any use for me any more!
It is a silly habit I ,for some reason, will not drop.
I don't look at the figures any more as I spend what I want and do not need to be on a strict budget, so what is the point
!!!!
by Finy
Is it time for an intervention, Finy :-))
that has been tried, and i didnt do it for almost 3 months, but the other dday I just felt I HAD to do it and it took me nearly all day!
by Finy
I have a certain amount budgeted for my mortgage and bills and this figure gets put away each payday, Then I have the money ready when the bills come in. I also have a food budget that I stick to each month. Other than that, not really. I will buy petrol and other necessities and then whatever money is left, I put straight into savings.
I have a budget insofar that I know exactly what amount I spend on bills and my mortgage and I put this money to one side every month. Away from that I estimate other spending such as shopping, going out, petrol and other incidentals, so that I roughly know how much I am aiming to save in the month. Once a year I review all my bills such as insurances, and providers to ensure that I am getting the best possible deal for my money.

I have thought about entering everything onto a spreadsheet, but I think I need a bit more discipline.
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