Am I the only weirdo addicted to my budget?

[MagicalMom]

I started a binder listing all of our bills, interest rates, balances, etc. Every week I write down what we paid & the balance left. DH has been working a lot of overtime. When he goes in, I designate that days money to a certain bill. I get so excited when the new bills come in & I can see a big difference. We spent so many years only being able to make minimum payments, I am just tickled to death. I have my monthly budget written out for the remainder of the year. Anyone else have the same pathetic hobby?

 

[LuvTigger]

LOL, unfortunately, no, I do not have the same hobby that you do, but really, I wish I did! I always start getting organized in that way, then after a couple of months, it fizzles out.

I think maybe you need to rub off some of your financial organization off on me!

 

[KathyTX]

Budget?

What's a budget?

 

[sap1227]

I am totally addicted to this. I have always loved getting bills and paying bill (I know it is a very sick "passion" to have). Before we had DS#1 and I was working full time it was a lot more enjoyable than it has been for the last 3 years that I have been a SAHM. However, I just started working part-time and my DH is getting a substanital raise. I thought the raise did not start until next year, so I already set up our 2005 budget--you can not imagine my delight to find out the raise is effective October 1. I too am tickled to start paying things off instead of just the min payment.

My DH thinks I am nuts!!

 

[Dan Murphy]

YOu might like Quicken.

 

[MagicalMom]

Originally posted by Dan Murphy
YOu might like Quicken.

I haven't tried quicken. I have ms money, but haven't used it in a while. I mostly use it when I want to do charts & graphs of my bills. That is sooo much fun!

 

[kimbac3]

I have a binder too!!! I just said to DH tonight " This was my best idea ever" I have a divider pockets labeled for each month, and a sheet of paper listing all my bills and a space to write when and how much, etc.

I too know your joy. We are finally(this past year) able to pay all our bills in full and on time. It's actual almost pleasant (in a sick twisted way) to pay bills!

I even have such an anal bill paying / budget system. But hey it works.

Oh and Yeah...budget till Jan 05 all written up.

Maybe we are long, lost sisters!!

Kimba

 

[MagicalMom]

Originally posted by sap1227
I am totally addicted to this. I have always loved getting bills and paying bill (I know it is a very sick "passion" to have). Before we had DS#1 and I was working full time it was a lot more enjoyable than it has been for the last 3 years that I have been a SAHM. However, I just started working part-time and my DH is getting a substanital raise. I thought the raise did not start until next year, so I already set up our 2005 budget--you can not imagine my delight to find out the raise is effective October 1. I too am ticked to start paying things off instead of just the min payment.

My DH thinks I am nuts!!

I'm just so glad I am not alone in my addiction. It seems like a game to me.

 

[BrerMom]

Quicken and Financial Peace University make quite a combo!

http://www.daveramsey.com/fpu/home/

 

[oogieboogie]

I did at one point in my life... then DH screwed it all up and I said to him... here you do it, since you ruined my system!

He's been doing the financials ever since!

 

[MagicalMom]

BrerMom
Did you order the kit? Did it work well for you? It looks interesting.

 

[EsmeraldaX]

I actually have a calander I printed up in word so that each day I have something due I know exactly when it's due, when my pay days are, etc.

People laugh at me, but I'm the only one of my friends who has not had a late bill payment in years.

 

[BrerMom]

Originally posted by MagicalMom
BrerMom
Did you order the kit? Did it work well for you? It looks interesting.

We actually took the class. It was offered through our church. It was well worth the time and cost.

It's a non-denominational program, so you could take the class from anybody that offers it. I think there's a place on the site to see who's offering it near you. It's also a private program - anything discussed in the group is generic information. Private financial information is only for spouses unless you choose to volunteer something. Most people in our group didn't give any specifics at all. We did talk about percentages, but not actual dollar figures.

I was able to tweak the quicken program to let me use the envelope system recommended by Dave Ramsay. It's been working really well.

 

[Pembo]

I'm confused by the paying by the day thing?! Dh gets paid every 2 weeks. I hold all the bills until pay week and then write the checks for those that are due in the next 2 weeks. How do you all do it?

 

[Lewski709]

Nope, you aren't. Every month I do a budget. It includes my current checking balance + my weekly salary + DH weekly salary - deductions for: childcare, after school care, groceries, utilities, savings, credit card payments, etc. It helps me feel more financially sound and prepare for the future. We've done really well with this way of managing our funds. We've lived in our house 7 yrs and it is almost paid for....seriously. I pay extra payments all the time and we've been able to afford luxuries knowing what is coming in and going out.

 

[disykat]

I've always enjoyed paying the bills, but dh is the one that's more addicted to the budget. When we first got married that was our one big disagreement - who got to pay the bills. We both wanted to. I ended up giving in and letting dh.

Now we have sort of the perfect arrangement. I pay all the bills, but dh sits down every couple of months and sorts through receipts etc. to his hearts content and figures out exactly what we spent on what and keeps his budget up to date. We don't keep anything on the computer except our mortgage schedule - we like to see the difference paying it down makes and keep up to date on when it will be paid off.

 

[EsmeraldaX]

Lol! I think of it almost like a game to. I actually don't mind paying the bills. It makes me feel like I'm on top of things. My calanders really help me because I have a horrible memory. So it is good for me to see when my paydays will be, and which dates things are due.

I even go so far as to write it things that will require money (such as a wedding or birthday that is coming up).

I swear by this. I have one at work, and one at home. When I pay something, I check it off, and I actually feel very happy when everything for the month is checked off. I like paying things as far in advance of the due date as possible.

 

[iNTeNSeBLue98]

When DH wasn't working, well he was working just not for very much, I stopped keeping tracking of our finances Too many bills and not enough money to pay them all. I paid only what was necessary - food, rent, gas, car insurance, car payment, utilites. Now that he's back to work, and I have borrowed against my 401k to get everything current again, I have rewritten our budget in Excel. Each day a new bill comes it I add it to the list. I have a master list with an estimation of each bill for the month and another to track to income and outgoing expenses. I can't keep track of every penny, but I'm trying. Each month I copy the master and write in the actual amounts due and any remaianing balances so I can see my progress. I'm confident that by spring 2005 we should be in pretty good financial shape - 3 things, maybe more, will be paid off and we will have money to put towards vacation or a house.

 

[MagicalMom]

Originally posted by iNTeNSeBLue98
When DH wasn't working, well he was working just not for very much, I stopped keeping tracking of our finances Too many bills and not enough money to pay them all. I paid only what was necessary - food, rent, gas, car insurance, car payment, utilites. Now that he's back to work, and I have borrowed against my 401k to get everything current again, I have rewritten our budget in Excel. Each day a new bill comes it I add it to the list. I have a master list with an estimation of each bill for the month and another to track to income and outgoing expenses. I can't keep track of every penny, but I'm trying. Each month I copy the master and write in the actual amounts due and any remaianing balances so I can see my progress. I'm confident that by spring 2005 we should be in pretty good financial shape - 3 things, maybe more, will be paid off and we will have money to put towards vacation or a house.

That sounds like a great plan. I think a financial plan is very important, whether you are trying to pay off one bill or many. Plus, paying those off will raise your FICO & lower the interest rate on your new home. Good Luck & have fun!

 

[mudnuri]

I recently revamped my budget system. Before, I knew what I needed to bank every month, but wasn't good on anything else!...bills were always paid on time, but generally thats about it.

A few weeks ago I went out and bought a 3 ring binder, put in a bunch of dividers, and paper etc.

I have a section dedicated to each bill I pay...CC starting balance, interest rate, due dates, and each payment is written down, showing a decreasing balance.

My truck lease has a page, insurance etc...I pay my auto insurance each month- auto deduction to save 15% so thats in there too.

I then have a running budget page for each months, showing starting bank balance in checking and savings, my paychecks, and all the deductions I have to make from the accounts and the days they happen (GMAC and Insurance are automatic)..

Then the next month- same thing, with hopefully a large beginning balance in both savings and checking accounts.

I have been doing some Personal Care for my grandmother since she had her hip replacement, an the Dept of Aging and Disabilities pays me for this, since she is non-ambulatory, and can not transfer alone. This check- I have now being directly deposited into yet another savings acct. DISNEY FUND! YEAH!!! Previously this was "spent money"...yuck!

I really luck out, as DH pays a lot of our household bills through a seperate checking acct, so I really only have to worry about my personal bills, truck, CC's, daycare etc.

I also am starting a new job on the 14th, and have NOT put my current salary into the budget, I have made the budget cushhy enough that I can pay all required bills with my 1 salary, and if I continue at my current job as well, that money will be split between the DD's accounts/funds.

I hope this works, I'm praying it does!

One thing I did before this was track my spending for 2 weeks. I only use cash, except when paying a bill, no checks/debit ever, so everything I bought, right down to the Dunkin Donuts coffee the other day, I got a receipt for, and tracked. Amazing what you spend !!!

Hope you all welcome me into your "anal budget club!"

Brandy