do you budget?

i need your help!  for days, weeks, months, hell, even years, i've been wanting to create a budget for our family.  i've scoured the 'net to find help in doing this and though i have probably found exactly what i need more than once, i still can't bring myself to actually create the budget.  why?  i have no idea. 

my friends, the days of procrastination are over for me.  i have to make a budget because there are some big changes coming our way.  matt is going to start shift work soon, which at first glance does not seem appealing, but for us i hope it will be better.  the perks: more money per check, and a little bit less money for daycare as he will have a day or two off during the week.  another change is that my job will be going from 40 hours/week to 32 hours/week.  that's right folks, i get one day at home, but i also will lose over $7k a year in salary.  that's not even including the cut i suffer in vacation/sick accruals, my retirement plan, etc.  but, it is what it is.  i think we'll be just fine, but, now more than ever, i want to make a budget so we don't get into a nasty mess with our money.

this is where you come in.  how does your family take care of the money situation?  do you have a budget?  do you just wing it?  do you use software that helps you keep it all in order?  or possibly a tool on the web?  please, share, share, share!!! 

if you don't have a budget, maybe you can check back here and see what people offer up.  i'll keep you posted on what i do, and maybe that will help hold me accountable for actually doing this!

Comments

[Jaime]

Ok, not that I practice this but wish I did:

70/20/10
70% goes to daily bills. If you are higher than this, you live outside your means.

20% goes to long term savings. DON'T TOUCH IT, EVER.

10% goes to a regular savings for emergencies and large purchases, etc.

That's what I've been preached. But, like I said, I don't do it. However, I do agree with your mom and can say I've actually practiced it on a few occassions:)

Good planning.... and way to actually acknowledge that WE need a budget!!

[Heather]

I'm terrible about doing a formal budget. I have tried many times. It gets trickier the more kids you have and the things they need or accidents that happen that don't really fall into the budget. So with that said, we always try to put 10% into savings each pay period....and not touch it unless there is an emergency or the need arises. Ditto on the waiting until you have the money to purchase something. We have no credit card debt and it feels good to have that kind of freedom.
I use Quicken to balance my checkbook.

[jenny]

thanks for the advice mom. good luck to you on saving for your jeep!

[jenny's mom/Tucker's GRAM]

hi there, i don't know much about budgeting but i do know that if i want something, i wait till i can pay for it. i know that isn't easy for everyone, but some people get so far into debt because they want everything right now and can't wait and then it creates a huge problem and it usually only gets worse and worse. so try to save for something, it also gives you time to say to yourself..."do i really need it?" sometimes you may change your mind. then you can just save for something else...............love and miss you all, you to dust and tina...and oakley too.
~mom~Gram~