I can't stick to a budget-ugh

FairestOfThemAll37

FairestOfThemAll37

DIS Veteran
Joined
Feb 12, 2013
I started a thread awhile back asking for tips on budgeting for beginners.

I signed up with mint and input everything and set goals/budgets. I gave it a go for a good several months and all I can say is...it was a cluster at best.

I just cannot stick to a budget. Things pop up or unexpected spends occur that throw things off.

I guess sticking to a budget is just a matter of will power and I ain't got it ;)

I'm a super organized person in general but I seem to be very fly by my seat when I comes to spending.

Thoughts? I don't really have a specific question at this point. Just unable to sleep and lamenting my budgetary incompetence.
 
same here it goes in one month then back out the next , i think i have found it easier to save a small amount over a longer period but even then its hard work
 
I have a very hard time sticking to a budget, too. On line tools didn't work for me, I had to buy a notebook and a fancy pen and get right into it. I am not doing a budget right now because it drives me crazy, but I have to get back.

You say things pop up, but really, nothing is a real surprise. You have to budget for those things. Do you divide out your quarterly or annual bills and set aside money for that? Car insurance was a big one for me, and the water bill. Also, holidays don't move, they come up the same time every year. Do you divide your birthday budget out by 12 and set aside that money each month? All that stuff was a budget killer for me, and I had just gotten it under control so when each bill came in I had set the money aside already when we bought a new house and I haven't gotten back on track.

It isn't will power, honestly. It is finding a system that works for you and refining it monthly until it runs itself. Of course, you can't give up when you reach that point, like I did. Ahem. It's the beginning of a new month, perhaps I shall get started!
 
FairestOfThemAll37 said:
I started a thread awhile back asking for tips on budgeting for beginners.

I signed up with mint and input everything and set goals/budgets. I gave it a go for a good several months and all I can say is...it was a cluster at best.

I just cannot stick to a budget. Things pop up or unexpected spends occur that throw things off.

I guess sticking to a budget is just a matter of will power and I ain't got it ;)

I'm a super organized person in general but I seem to be very fly by my seat when I comes to spending.

Thoughts? I don't really have a specific question at this point. Just unable to sleep and lamenting my budgetary incompetence.
Click to expand...


When I couldn't stick to a budget at first, I just made my miscellaneous category higher.

That gave me the room to figure out my spending a little better.

Eventually it was easier to manage and I could say no to myself. I had an option to take a third Disney trip this year - had rooms, tickets, and lots of Disney Gift cards, but I knew that if I went I would still spend money that was not actually earmarked for vacation, plus I would be spending other vacation funds earlier than anticipated, cutting down future planned trips.

It was pretty tempting though. I wanted to go to catch the last weekend of Flower and Garden and the first Star Wars weekend. Not happening, at least not this year. I've already booked my food and wine trip, so I'm not suffering that much.
 


its not a matter of will power. its a matter of buckling down and making it work.

the unexpected comes up. thats what your misc, expenses is for. if you dont use it, it rolls over to the next month. that way thatarea keeps growing for the unexpected expenses. Now - your friends calling wanting to go out and eat is not an unexpected expense. an unexpwected expense is car repairs, a family member being admited for emegancy reaspns to the hospital, etc...
 
I don't like mint or the other online spending trackers.

Like pp said try different ways like pen and paper.

Here is what I did went old school pen and paper wrote down every bill/ long term spending ei car repairs, titles, clothing, everything but daily spending like gas/food/going out,starbucks. I could ever pay for whole year, this was key to find out how much every payday needed to stay in what acct. all bills except garbage are on auto pay. All retirement/ long term, health, emergency, vacation, taxes, gift saving acct where already set up. direct deposit to our main checking then i have auto payments that go to all my different acts. The only other bank acct I opened was our spending account.

Basically what I did was cut off instant access to our whole income. I don't track our spending acct, its our money to spend as we need, for food or gas or whatever we want. I have it set up so the bank sends low balance alerts and the agreement is all spending for fun stops, unless we agree to buy whatever. Basically Im broke with money in the bank :rolleyes: I revise it about every couple of months to make sure its working for what we need.

The real question is do you have enough money for your needs, then everything else is your

It works pretty well for us and that's the point of a budget, right?

Some people would say that's not a real budget, because i don't track everything, but its less stressful and I really dont care if one month we spend 1200 on food and the next 600. I do care that my bills stay low and that we have enough in all different savings to do what we need them to do.
 
What helps us is that we have a "blow cash" item in our budget. Every paycheck DW and I pull out $20 or $40 (in cash) what ever you can afford. We then use that money for the random cup of coffee, or other things. When the cash is gone you are done until your next paycheck.

We also took a category we tended to over spend and pull it out in cash each month.
 


FairestOfThemAll37 said:
I started a thread awhile back asking for tips on budgeting for beginners.

I signed up with mint and input everything and set goals/budgets. I gave it a go for a good several months and all I can say is...it was a cluster at best.

I just cannot stick to a budget. Things pop up or unexpected spends occur that throw things off.

I guess sticking to a budget is just a matter of will power and I ain't got it ;)

I'm a super organized person in general but I seem to be very fly by my seat when I comes to spending.

Thoughts? I don't really have a specific question at this point. Just unable to sleep and lamenting my budgetary incompetence.
Click to expand...
Following a budget IS a matter of discipline (or "will power"). Saying that you don't possess that trait is just an excuse. You just haven't found the right motivation. You have a finite amount of money to spend. You can decide to spend it however you want. You just make your priorities and live with the consequences.

When you say that "things pop up or unexpected spends occur", are these true emergencies (like a pet needing unexpected surgery) or are they just spending opportunities that are extremely attractive (like going out with friends for dinner and drinks)? The former should be paid for with your emergency fund. The latter should only be indulged in when you have extra "entertainment" money in your budget.

If you're digging yourself into debt by spending on credit cards to get what you want NOW and then not having enough to pay the CC when the statement comes, you need to ditch the cards and go to a cash system. Forget the rewards points. You're paying more in interest than they are worth.

Some people are okay with a loose budget as long as their bills are paid. Others will account for every dollar that they bring in. You shouldn't beat yourself up if you're the kind of person who doesn't need to account for every penny. If you're paying your bills and you're happy otherwise, then don't lose sleep over it.
 
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Lots of good points have already been mentioned, OP. I think it is important to find out your style and figure out what works best for you. We use the Mint app and I love seeing where all the money is going. I particularly like that it shows how much we have spent relative to where we are in the month - that is less helpful for things like groceries sine I don't shop every day, but it helps with eating out. We have set several different budget categories, but you might be happier with fewer. For example, we have a budget for groceries and one for eating out. Sometimes the eating out is too high but the grocery category is low because of that. I am okay with that as long as our total spending for the month is less than or equal to what we have budgeted to spend overall. If it is a month where we are buying a lot of gifts, we hold off a bit on new clothes for the kids (when possible).

It is always a good idea to see where you can cut, as well. We turned in two cable boxes and cut our cable bill $15 per month. We are not ready to cut the cord completely, but we haven't missed the extra boxes.

I would also check to make sure your budget is reasonable for how you live. You only have a finite amount of money to spend as a PP said, but you also set yourself up for frustration if you set individual numbers too low. For example, if you tend to eat out a lot, try to cut back if you want, but also divert money from another budget area so you can meet those numbers. Maybe you will choose to spend less on clothes, or cable, or going to the movies so you can eat out more. Or maybe you will cut back in some categories so you can save for vacation.

Last thing - it was helpful for us to account for ATM transactions. They were always the black hole of our budget. Now we either use a credit card or I write down why I got money out of the ATM.
 
I think it is about willpower, like anything else. OP when you decide what you want to use your money for, you will stick to your own choices b/c you will be motivated to do so. It's the same as overeating, overspending,over'anything'! If you decide you are going to do something,for a reason that makes sense to you,then you will do it. I can only eat a certain # of calories in a day to avoid being unhealthy and overweight- Likewise I can only spend a certain amount of $ each day ,b/c I don't have any more than that to work with. Doesn't matter if that amount of food or $ is big or little, it's what I have to work with. So for me the only question is,how do I use the amount I have? (blow all my calories one on meal, or spread them out over 12 hours? my choice) and (spend all my months income at once? or spread it out over 30 days? my choice)
It's the same concept, just apply it to anything in life.:flower1:
 
NY Pirate Princess said:
I have a very hard time sticking to a budget, too. On line tools didn't work for me, I had to buy a notebook and a fancy pen and get right into it. I am not doing a budget right now because it drives me crazy, but I have to get back.

You say things pop up, but really, nothing is a real surprise. You have to budget for those things. Do you divide out your quarterly or annual bills and set aside money for that? Car insurance was a big one for me, and the water bill. Also, holidays don't move, they come up the same time every year. Do you divide your birthday budget out by 12 and set aside that money each month? All that stuff was a budget killer for me, and I had just gotten it under control so when each bill came in I had set the money aside already when we bought a new house and I haven't gotten back on track.

It isn't will power, honestly. It is finding a system that works for you and refining it monthly until it runs itself. Of course, you can't give up when you reach that point, like I did. Ahem. It's the beginning of a new month, perhaps I shall get started!
Click to expand...


we do a similar system but we call it our 'reserve account'. basicly I operate w/5 bank accounts-checking, short term savings/emergency fund, long term savings, gifts and reserve.

checking-all the automatic payments, monthly bills and household/grocery comes out of this (a set amount from direct deposits goes in each month)

short term savings/emergency fund-built this up to cover AT MINIMUM the amount of car and homeowner's insurance deductables but have increased amount to cover unexpected expenses like car repairs, vet bills. if we're planning a vacation or larger purchase it's the place that money will go/come from.

gifts-simple, the amount I spend on average for Christmas and bday gifts divided by 12, with 1/12th going into it each month.

long term savings-just like it's name, it's where the money we hope not to have to touch unless a MAJOR emergency comes up. a set amount is transferred into it every month (and if we get a little raise, lowered expense we try to increase the amount).

reserve-I took every non monthly expense along w/what I can reasonably anticipate (I know how many oil changes each year but my mechanic keeps me appraised on how soon a large servicing, brake or tire replacement might be expected). this is car registration, auto insurance, homeowners, propane (get a fill 1-2 times a year), pest service, lawn service, property taxes, Sirius subscription and a once every 2 years servicing inspection on one item in our home (when my kids were younger it also included private school tuition-cuz we got a discount by paying twice per year vs monthly, summer camp and back to school clothes). divided by 12 again so 1/12th goes in each month.

the reserve REALY helps, especially since w/some expenses I get a discount for paying them annually or bi-annually (car/homeowners in particular). now unless a person already has some savings to initially fund this type of account (or lots of months to start funding it before some of the expenses earmarked to it will need to be paid) it can take a 6 months to year to really get it working, but once it's in place it's MUCH easier to deal w/regular week to week or month to month expenses.

btw-I divide by 12 b/c all of income is monthly based, when it was bi-weekly I divided by 26.
 
There are unpredictable things that come up. How are you not able stick to a budget? Are you overspending when your out doing normal shopping? Or do you do just to get out of the house? You need to be honest with yourself.I am not trying to be mean. Just want you to see what is causing you the issue. If it just because you want to get out, find other things to do. Go for a walk in the park. Putter around in your yard. Find small things that need to be done at home. Maybe your garage needs to be cleaned out. Maybe find things to have a garage sale to make some money. I can't afford to do anything. That includes vacations. Just being honest with my situation with you. Find someone who will hold you accountable as well. Hope this helps a little. I learned a long time ago I only go into the store and get what I need and leave, I don't let little things take me off course that I don't need.

Even when doing your grocery shopping use coupons, and if you are under budget , take that extra money and put it in a jar and leave it there. You might find in time you saved a lot. You can do this!
 
Any good budget should be prepared to roll with the punches. We ALL have unexpected things happen. A budget is not a crystal ball that prevents the unexpected. But, using a budget (I highly recommend a zero-based on like YNAB, not an expense tracker like Mint) helps you to have all the information you need to make a decision when the unexpected occurs. And, the longer I budget, the more I learn that I DID expect those things, and have planned for them. We have absorbed an INSANE amount of vet bills this year, without skipping a beat.

I used to feel like you. I used to say things like, "I can't budget" or "I'm not good with money" -- now I hear things like "I'm not good with money" and I just chuckle to myself. Being "good" with money is not a trait some of us were born with and the rest of us are destined to live without. It's a skill you learn, just like any other skill. It's amazing the impact that the right information can have. I tried many approaches in the past, but when I finally committed to giving YNAB an honest try, it was like the clouds parted and I was standing in the sunshine for the first time.

Read some success stories, you may be inspired
 
What worked for my family, writing it all down and using envelopes with physical cash for each category (cable bill, credit card bill, grocery, etc.). After a year of that we were able to handle doing 'digital envelopes'.
 
I can't nickel and dime every bit I spend either. To stop spending over our income, I added up what our expenses are approximately each month (and a bit more), and as soon as we get paid that money goes into a separate account. Then I know those are paid, and learned to deal with the variable rest, and allocate it to where I wanted it to go instead over time...
 
Hello all- OP here. Figured I'd pop in and answer a few q's/give some additional info. Thanks for all the feedback.

I was all set to try YNAB as I'd heard so many great things about it, but when it comes to tracking things like this I'm just lazy. I don't have the patience to input every purchase manually.

I do everything online-all my bills, rent, etc. I don't use cash anywhere except paying my dog sitter. For those of you who do the cash envelopes, do you go to the cable company every month to pay your bill? I'd never get my bills paid lol.

I watch my cards online (thank you Prism as I have lots of cards and could never keep track without that app!) for an idea of where I am and that's about it. I don't carry a balance on my cards so no debt there.

I guess I feel a bit irresponsible as so many people seem to know how much they spend on x per month. Other than rent, cable, doggie daycare and Netflix I have no idea. I have a rough idea of electric summer vs not but as for gas, food, entertainment, etc. I have zero idea. I've set budgets for all of those in an attempt to save but then...nope.

Glad to hear that not everybody budgets to the $. I like hearing strategies. I think if I ever get motivated to save for something new maybe I'll have the willpower.
 
We had trouble sticking to a budget. I tried several formats, but it seemed like some of the spending categories didn't apply to us or we had no spending in one category and overspending in another. I read an online review of a book called Wealth Watchers by Alice Woods. Our library had a copy so I checked it out. Her method seems to work for us, except I don't track our spending by day, that would stress me out way too much. We keep track weekly. We've been following it for 3 years now and it works for us. Even if we overspend in a particular month, at least we can see why we did.
 
It sounds like you are wanting to save, not really budget. What if you set up an auto draft into a savings account, so it comes out like any other payment? We have a hard time doing an official budget because our income changes each pay. For our bills, I simply keep a list that shows the due date, amount due, how I pay it (mail, auto, online) and how much I actually pay, and a place to mark it paid. It is easy to just add savings as a line item and pay into it just like a bill.
 
ah1126 said:
It sounds like you are wanting to save, not really budget. What if you set up an auto draft into a savings account, so it comes out like any other payment? We have a hard time doing an official budget because our income changes each pay. For our bills, I simply keep a list that shows the due date, amount due, how I pay it (mail, auto, online) and how much I actually pay, and a place to mark it paid. It is easy to just add savings as a line item and pay into it just like a bill.
Click to expand...

I guess I'd like to do both. I do auto draft a certain amount each paycheck into a savings account. I'd like to do more but I seem to be in the sweet spot of my spending.

I tried increasing the amount to savings but would end up pulling it back when the budget failed :/

I really think part of my problem is that I don't have a savings goal in mind so it's hard for me to sacrifice daily.

I am trying to diligently stick to buying only 2 Starbucks coffees/week. We have free coffee at work but I have yet to find a drinkable k-cup variety. They all taste like keurig. Blech. But I'm trying to tell myself free is delicious.

Does anybody know of a YNAB type program/app that will link to your accounts and auto-populate?
 
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