Anyone working on their 2005 household budget

[summersfam4]

You've just started Just kidding! I was up early on boxing day doing the annual budget. After having a really difficult year 2 years ago, I do a weekly budget to cover the year with extras set aside for the unexpected (because now, I excpect the unexpected). Then I daily during the year sit down and figure the budget because if a company double debits my account, I am on it! Almost two years ago a double debit in a fairly small amount could have sent us so far into the red that there was no returning because we were already borderline (just so you know yep, it was our fault that we had debt, but it wasn't our fault that the company failed to pay DH our sole income for 6 months right after we returned from WDW but we co-own the company with the other person managing the $$ so what can you do). Budgeting is good for everyone, after all it has brought us back from nowhereland in less than two years. Just set aside a small amount each week, or month and you'll have those unexpected things covered! Kelly

 

[Lisa loves Pooh]

Aaackk--New Year's Eve and I'm not finished...of course hubby thinks the budget it doomed!

Darn track record!

 

[disneymom3]

What I am struggling with is that I am on 100% comission and a very unpredictable comission at that. (I'm a Realtor) After two years of major financial doom, we are starting to get back on track, but have no savings built up yet. (Used to, it all went bye bye!) So DH makes a specific income, but it is not quite enough for our monthly expenses. I am only in my second year of doing this and it is very up and down. For instance, I have 5 strong leads right now, but no closings currently scheduled. So, does anyone have advice for some type of program or system to budget when you don't know when or if the money will be coming? My goal this year is to get our savings reestablished. I want at least a cushion of 6 months worth of what we need for me to contribute each month, but we currently have a very minimal amount of savings.

A lot of you sound like you have it really together budget wise, so maybe you can help.

 

[westjones]

Just wondered what people budgeted monthly to put away for Disney vacations. I am trying to put away $300 per month this year because we want to do a Disney Cruise in March 2006 (spring break, so not value season) and I would like to be able to fly (if I can get a good price) and a car rental.

To me, this seems like a lot, but I think we can do it if I really watch the grocery bill and those little extras (like movies and eating out).

I just wondered what is typical for a monthly budget to put away for a Disney trip.

DJ

 

[HenDuck]

disneymom3,

We are in the same boat. DH has his own business and it's been up and down for the last 8+ years. It is nerve-racking!

I used to just pay all the extras myself, but then it got to be too stressful. We had to sit down and talk about the money situation seriously. He is now forced to look at the budget and to understand what the expenses are. He is also aware that we will have to cut things (like possibly DS' preschool and/or college fund, as well as cel phone, etc.), if he doesn't contribute his share. This awareness has been key for him. He has lived in financial "la-la land" for many years, relying on me to make it all work. (I am sure you're not like that since you are here on the budget boards )

One other thing we have done is to figure out our bare bones budget and what we will do if we run short. We don't need cel phones, cable, 529 for DS, preschool, two cars. We don't even need our house. We could always swallow our pride and move in with mom and dad.

We are aware that we have financial responsibilities but we also look at the situation realistically. We may have to give up one car, but it's not as important as other things we are fortunate to have.

We have also been slowly (really slowly) working on building up our savings. If we cannot go on vacation, this year, we won't. We have made a pact to sit down and go over our financial wish list for the year and our travel plans for the next few years. That way we can have something to look forward to too.

The rest of it is just "sucking it up" and cutting corners. Neither of which I like to do, but we do it when we have to.

Wish I had better advice, but that's what we do.

Good luck to you!

 

[westjones]

disneymom3,
He is also aware that we will have to cut things (like possibly DS' preschool and/or college fund, as well as cel phone, etc

Will you have to pay babysitting if you cut preschool? Sometimes you can find a church offering free or near free programs for preschool kids.

As for vacations, when my girls were young, we had no money for extras like vacations. I would look for 'free' or 'near free' events happening locally and we did those all the time so we had plenty of family outings. Our first vacation as a family was camping in a tent (and we had a blast!).

I have found that my kids do not remember very much of those years, so spending a lot on vacations when they are so young is more for the parents then for the kids. The kids have fun going to a park or having a play date with a friend.

Good Luck with the budgets! And start watching for those FREE activities. You will find lots of family things to do (especially in the summer)!

DJ

 

[Lisa loves Pooh]

Well we are not done yet--just when I think I am, I notice a formula didn't copy write, a category is missing...et cetera.

For Disney--I'd plan a pseudo trip of what you'd expect to do that would include your hotel/tix/food...and add a little extra for the extras like souvenirs and such and don't forget your airline tix or other transportation costs.

Calculate the months until your planned trip and divide your total by that number and this is how much you would need to save each month

 

[OceanAnnie]

Ok, I didn't even know we had Microsoft Money. But we do! And I'm gonna give it a try!

Thanks for the tip!

 

[wide awake]

We try to save $500/month for vacations.