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Budgeting Ö yuck!!!

December 14th, 2007 at 07:41 am

Letís be serious. Budgeting to me equates to exercise. There are those freaks out there that talk about getting a ďrunnerís highĒ, how they canít miss going to the gym for one day. I am not one of them. Honestly, most of us arenít.

We only get serious about exercising when our doctor calls us a fat pig or itís January 1st and ďmore exerciseĒ is our resolution. 2008, I am going to me a more moral, caring person and take care of my self mentally and physically. How long does that last? Until the first snowstorm? Not even?

Well budgeting is the same. It sounds like a good idea and we know we should do it. But thereís all that work. I have to write done every penny and what I bought, I have to set a budget knowing that Iíll miss half the expenses, I have to live my it, and then I have to do it next month. Oh joy!!! I can see this working out.

So whatís a lazy non-freak like me going to do? Have my wife do the budgeting. That didnít work very good last time. She was very good at tracking expenses and nagging me for my expenses but we never know how much we could spend on certain items. Also I wasnít good at keeping track of things.

Well, I started searching on the web for budgeting tools. Excel ones Ė too much work. Paper ones Ė way too much work. And then I discovered Mvelopes.com.

Mvelopes takes the envelope system and modernizes it. The envelope system is when you take your paycheck and put the money in actual envelopes that are labeled (like food, gas, car, insurance). Once the money is spent, itís spent. The issue in todayís world is that we donít pay cash for things. We use credit cards, debit cards, checks, and cash. Some of us have more then one bank (we have three) and multiple credit cars.

Thatís were Mvelopes comes in. My banks, credit cards, loans (auto and mortgage) all hook into Mvelopes. Any transaction that appears get uploaded to my view. Then I just drag and drop the expense in the proper folder, much like dropping emails into folders in Outlook.

The hard part is setting up the budget and funding the folders. Iíll talk about this in my next post.

5 Responses to “Budgeting Ö yuck!!!”

  1. Caoineag Says:

    Funny you equate budgeting and exercising. Both require commitment and get easier the longer you have doing them. I used to never go to the gym and now I go faithfully 3 times per week for the past 9 months. Same with budgeting, the longer you do it, the better you get at it.

  2. Aleta Says:

    About the best way to get started and to work with another partner is to keep a small notebook and just note deposits and debit expenses whether cash or check. I keep a separate notebook for my credit card charges so there aren't any surprises at the end of the month.

    Once a week, sit down with the other person and input your information.

    I like what Dave Ramsey says when he says that we have to tell our money where to go; not allow it to tell us where it is going. So, you actually have more control when you have what I call a SPENDING PLAN not necessarily a budget.

  3. Ima saver Says:

    I have used the old fashioned envelope system with cash for the past 42 years. It has always worked for me!

  4. Broken Arrow Says:

    Hi, and welcome! Yeah, budgeting is not exactly the most exciting topic in the world, but....

    I tell you what does excite me though. Knowing that I am building my future and my freedom, and my budget shows me how it can or is being achieved.

    So, I guess that's how I try to keep myself motivated. By looking at the benefits that can come out of it.

    Hope to hear some tips and insights from you soon!

  5. debtfreeme Says:

    I have to admit that i love bodgeting. I love working with someone until they can live within their income and see the light at the end of the tunnel about being able to start investing. I love it!

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