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[C.Ann]

Thanks!

[Mamu]

C Ann my DH retired from work several years ago. We need to live on a tight budget and I'm usually pretty good at it. He returned to work in May after 6 years of being home. Regular pay checks have spoiled me. The budget went out the window.

Christmas is over and it's back to a budget. I put away every think I can into 6 month certificates. Granted right now the rates are low, but at least I'm getting interest. If it in my checking or savings I can get at it when ever I want. By putting it into certificates I can not get at my money for 6 months. A lot changes in 6 months all of a sudden you really didn't need any of those items you thought you wanted.

We also have a percentage of the pay put away for investments and vacations.

When my DH was first injured I thank my lucky stars I was a saver, we had no income for 6 months. We managed fine sure it dug into our savings but thats what it there for.

[believe]

I have an excel sheet that breaks out what the money in my bill account is allocated to, but I also have a misc account of $20/paycheck...this is used when I go a little over budget for the week. I also put a little in an "Amanda" account for my own spending. I think the key is to just budget in a little money for yourself, I just do $20 every paycheck...it adds up quick.

[jipsy]

I try to live by the 10/10/10/70 rule.

70% for bills, 10% giving to charities (or tithing to church) or wherever, and 10% for spending on whatever.

I don't always get to do it, but it helps to try and follow it.

[LuvTigger]

I guess it really depends on what your financial obligations are, but personally, I put about 1/8 of my paycheck (I get paid twice a month) into savings, and I take out another 1/8 as an "allowance" that is supposed to last me until the next paycheck. The rest is for bills, but I usually do keep a little bit in my checking "just in case."

Also, the amount that goes into my savings is automatically deducted, so I don't even see it. I found that if I try to pay myself manually, I will put it off. Also, I have something similar to a 401K which is also deducted automatically. When I say 1/8 of my paycheck, it's 1/8 after the 401K payment.

Another tip is if you have automatic deductions from your paycheck such as for medical insurance, 401K, or parking, see if it can be done pre-tax. It will add a few dollars to your paycheck. For me, it also keeps me from getting too large of a tax refund (I know this will vary for different people). While I used to think that it's great to get such a large refund, a friend of mine who is a financial planner said, "it's your money to begin with! Your goal should be to try to break as even as possible at tax time, not receive a big refund!"