personal budgeting

Where to start budgeting?

Hello. I need to start a budget for my family but I do not know where to start…. Any ideas?

Separate ‘needs’ from ‘wants’. Food, Housing and utilities are first. then the other debts can be tackled over time.

Without food, you have no job. Without a job, you have no home. Without a home you have no way to pay for other bills.

Prioritize: Do your kids really need that Game box, or do they need shoes? Do you need that designer car, or would an economy model do for a while more?

Not knowing a thing about what your family’s comprised of and whether you rent, own, whatever, not knowing the income or such, that’s like flying blind. The homepage has a link to the money managing tutorial/worksheet. Start there.

Ditto here. And it should be easier for me since I’m single & have no one else to worry about so to speak. I suck at budgeting.

I am single and glad to have no credit card.

I do have my ATM card. You would think that I have tons of money in savings since I have no credit card and you would br wrong. The only debt that I have is my Health Insurance, Car Insurance, Car and that is it. Now if only I can stop spending money on things that I do not really need.

I don’t have a credit card either. I put money in savings now, but I started late in life with this good habit.. Me and my sister laugh now about all those times our Mom, now gone ,used tell us little sayings, like “save for a rainy day”, or “a fool and his money are soon parted”. I have gotten to the point where the good feeling of having money saved feels so much better than going shopping and buying more “stuff”. Stuff that just clutters my home.

One suggestion if you can receive your pay via direct deposit, is to set it up so that a certain amount goes to a savings account that you do not have any ATM/Debit card with. If you want the money, you have to go to the branch or contact them via web, etc. A good money market may be a solution if you can find one that will let you start with a small initial investment. Money Markets typically will not let you write a check for less than $250.00, just put that check book away so that it is not easily accessible.

There is a saying that is quite true, if you never see it, you do not miss it. That is the beauty of direct deposit and having some of it put into accounts you do not typically use.

One suggestion if you can receive your pay via direct deposit, is to set it up so that a certain amount goes to a savings account that you do not have any ATM/Debit card with. If you want the money, you have to go to the branch or contact them via web, etc. A good money market may be a solution if you can find one that will let you start with a small initial investment. Money Markets typically will not let you write a check for less than $250.00, just put that check book away so that it is not easily accessible.

There is a saying that is quite true, if you never see it, you do not miss it. That is the beauty of direct deposit and having some of it put into accounts you do not typically use.