Tag: budget

FlowerPersonal Finance is a tricky business. When you have a decent amount of money coming in each month budgeting seems almost pointless. As long as there is money in the bank then buying a few things here and there shouldn’t matter. Should it?

Well that’s the way my wife and I used to think. Luckily we have no debts, except the mortgage, and manage to pay off our credit cards every month. After a while though this started to become a little harder each month, having to move money around from one account to another to make sure there was enough to cover each bill.

One way to cope with this is to create a budget and try to stick to it. This sounds like the perfect solution but it is very hard to keep track of every part of a budget. The more I focus on one area of the budget the further of track another part seems to get… I have a project to create an app for that, which should help me keep on track on all areas of the budget more easily, but that is still a way off yet.

Overall though budgeting is definitely a good thing as it highlights where the money is going and allows you to make changes as you deem fit. It has certainly helped Shirley and myself become a bit more frugal without feeling like we are missing out on anything.

There is another way though… Earn some extra money!

LizardFor a while now I have been trying to get a decent budget up and running. This is much harder than I had hoped and I feel like I am constantly having to make adjustments to allow for some kind of expense I hadn’t previously thought of or for the simple fact that what I had budgeted wasn’t enough.

A budget is very important to us at the moment as my income isn’t what it used to be right now but I promised Shirley that I wouldn’t let my decision to leave the 9–5 behind me affect our lifestyle too drastically. With the lower income we have had to make a few minor cutbacks but to be honest I think we were spending beyond our means anyway so I feel this was inevitable.

After months of trial and error I think we may have finally come up with a working budget. Now the trick is to stick to it…