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Trying this once again

September 15th, 2010 at 01:38 pm

Well I decided to come back. I wasn't even sure of this blog still existed. I'm finding a need to write my thoughts down regarding our finances since it's do or die.

We are a middle to upper middle class couple trying to survive living in expensive California with two kids in private schools and for the first time in my life, $7,000 in stupid credit debt.

I'm feeling stressed about upcoming expenses and blogging seems to be a good way for me to relieve some of that stress. Hopefully I'll stick with this. I've got a running blog too but it has been neglected of late due to just not having enough time to run and write entries in it.

I've struggled many times with finding a budget that worked for me. Somehow trying to allocate money to every conceivable category just didn't work for me. Too many unknowns with kids. Sports fee, birthdays, school related expenses etc etc and so I grew frustrated at my inability to budget and gave up.

Instead I logged all of our spending in Quicken, balanced our accounts and that was it.

Financially we were always ok but now that we are paying a lot of money in school tuition, I HAVE to find a system that works. There just isn't any more wiggle room unless I go to work full time and that isn't going to happen until my daughter is older.

I recently found a budget online and adapted it to what I think will work for me. It has sections for regular monthly bills, savings, discretionary spending and other expenses, those being the aforementioned sports, school, birthday etc expenses that come up throughout the month.

I've also allocated bills and savings to paychecks and basically what's left over, and there isn't much, is left for discretionary spending and other expenses.

I've set this up for September and hoping to start using the plan with our next pay period this week.

I've also started keeping notes about the other expenses that come up and will save them to my budget template so that each month all I have to do is copy the categories over and fill in the budget. Hopefully in a year I will have a rough idea about what to expect each month outside of our regular expenses.

In theory it works. Let's see how well I can keep up with it.

4 Responses to “Trying this once again”

  1. Ima saver Says:

    Welcome back!!

  2. creditcardfree Says:

    Welcome back and best wishes with your goals!

  3. wowitsawonderfullife Says:

    Welcome back! Good luck in reaching your goals.

  4. CB in the City Says:

    I've never had much luck with budgets either. I do track everything I spend and make myself a report at the end of every month, so I know where the money goes. I also maintain a spreadsheet with my projected monthly bills, so I know what I have left over to play with. Every payday I transfer whatever is left in checking to savings. Big, unexpected items come out of savings. I also have automatic withdrawals to a money market account. It's working.

    Welcome back.

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