So, walk me through your budget mtg w/ SO...

[Karenj2]

Hubby and I need to start having a budget meeting as we plan our following month, but I'm not quite sure what to talk about...

For those of you that have budget meetings, can you walk me through your meetings?

 

[DawnM]

I am not sure we have ever had a formal meeting, but we do discuss.

I have the budget on an excel spreadsheet and then read it through with him to get his input and modify as necessary.

We just discussed changing the budget this last weekend. We need to get more aggressive with the car saving fund.

Dawn

 

[Where'sPiglet?]

I do not know where you are at with your budgeting but here are some ideas to start a budget from the ground up, based on how we did it. Once all the categories are set, it's just a matter of assigning dollar amounts to them and then following through with the amounts you have set. We also discuss what we will do with the extra money from categories that come in below the estimated amount.

We started out by brainstorming and listing all the categories and grouping them.

Housing/Household Utilities:
Rent/Mortgage
Insurance
Electricity
Gas
Phones
Internet

Transportation:
Car Note
Car Insurance
Gas
Maintenance fund
Bus Pass/Toll Tag

Food:
Groceries
Eating Out/Snacks

Pets:
Vet care
Food
Misc grooming/toys/etc

Giving:
Gifts
Tithing
Charity

Miscellaneous:
Health care/OTC meds/prescriptions
Travel
Clothing
Household items (soap, etc)

Past & Future:
Debt payoffs (if any)
Savings

Like DawnM though, at this point it's primarily just looking at the Excel spreadsheets we created and toggling numbers as needed. The budget doesn't change much from month to month, so now that it's in motion, there's not a ton to discuss. We do from time to time discuss our short and long term goals and where we are at with them.

One thing to remember is that some categories are annual and not monthly. For example, I have to get my brake tag for my car in July. My flood insurance is another annual item that is coming up soon. It's already noted in my budget (in bright red!) for August so I won't forget.

 

[marie1203]

We never have an actual meeting. It is more mid-month I usually start doing the budget for next month, so once I am done I kind of just tell him the extras of the month and if anything has change. We do not really go through every expense since most of it is just constant things like mortgage, electric, etc. He will tell me if I forgot to put something and that is about it. Mid-month he usually asks how are we doing for the month.

 

[eliza61]

Well, I always start (and now my husband teases me about it) with the same question.

"Any thing big coming up in the next month". LOL I want to know if we have any major, possible budget busters. What's funny is that it tends to make us think of the little things that eat up our budget. Usually that gets all the birthdays, graduations, etc, etc

Since Dh pays all the routine, monthly bills we'll go over any spikes in those. like electric might spike due to the a/c being on.

Then we generally move onto the kids expediture.

 

[Karenj2]

Thank you for your responses... We're doing fine on our "normal" expenses (utilities, mortgage, car, etc.), but because we're trying to do the DR thing and pay off our car loans quicker, money is a bit tighter, so we have less available for the "emergencies" and the big-ticket expenses coming up... DH is by nature a worrier, so his solution is to "not spend any money on anything", which of course is unrealistic. DH is the bill payer, but I'm the one that likes to play with the spreadsheet (actually, YNAB).

I'm hoping that, with a monthly budget talk, he can see what the game plan is for our money, and feel less worried. I'm not a big shopper, but we're hoping to TTC #2 (via fertility treatments), and we've got some house repairs that are needed - both big $$$ expenses.

 

[gilby]

I would suggest you both read Dave Ramsey's Total Money Make-Over. He has a lot of useful information.

 

[perfectparanoia]

We have taken the opposite tact with this. My husband knows nothing about the money. Every once in a while he asks where we are at but irregularly.

However, he will ask if he needs something expensive in the next couple of months if this is a good month to do it. Sometimes I say no and ask him to wait.

He is very aware what the budget is and how to operate within it and I let him know if he needs to be a little tighter with money in a given month but we are just happier having someone who is in charge of all the money.