You Need a Budget

[barbmouse]

and so do I!!
I read somewhere on here recently where someone mentioned using this successfully. I would like more info about it and toask a few questions. Please let me know if you use and like it. Feel free to send me a pm. Thanks!

 

[Karenj2]

I use it (I have the Pro version), and usually blab about it all over this boards... I'll give you a brief blurb about it, and then you can ask any question you want.

Basically, it's both a program you buy and a methodology that helps that program work. There are 4 principles involved:
1) Stop living from paycheck to paycheck - by putting money into a buffer, you can start living on LAST MONTH'S paycheck, so you know exactly how much you have to budget.
2) Give every dollar a job - even if it's putting money aside for a future payment (i.e., quarterly/annual payments)
3) Prepare for rain - budget for car repairs, house repairs, appliances, etc. so that WHEN those problems happen you don't go into shock.
4) Roll with the punches - when you make a mistake (i.e., under budgeting groceries), the program will allow you to start with a clean slate for that category but takes that money out of the larger budget so you don't spend money you don't have.

The great thing about the program is that it comes with a forum (a lot like this one) where you can ask questions, see how other people did whatever, and get the kick in the pants/pat on the back when you need one...

 

[Karenj2]

bumping for OP - not sure if you saw my answer...

 

[barbmouse]

Thanks!! Good information. I am researching several "programs" and reading the Dave Ramsey posts. I'll let you know if I have other questions. It sounds great!

 

[EWL]

I've been using it for about 6 months and it's great. Takes some initial getting used to, but once you have it up and running it is excellent. As noted, ideally it would have you build up a month's "buffer" and then live off *last month's* income, but this is not required; you can start using it right away and just enter your income as "budgeted this month". Finally after years of using Quicken and having little idea where all the money went, we finally know with YNAB!

 

[Chicago526]

I've been using it for about 6 months and it's great. Takes some initial getting used to, but once you have it up and running it is excellent. As noted, ideally it would have you build up a month's "buffer" and then live off *last month's* income, but this is not required; you can start using it right away and just enter your income as "budgeted this month". Finally after years of using Quicken and having little idea where all the money went, we finally know with YNAB!

I agree, Quicken is great for a lot of things, but making a budget isn't one of them! I do my own budget in Excel but I love making up spreadsheets so I was happy to do it on my own. This program sounds great for those that just aren't sure where to start.