We are *almost* owners of an acre of land in North Pole, AK so we can build this. We just need to sign and return the paperwork. Then it's done. Final.
No refunds, no exchanges, no returns.
Now what? we've been asking ourselves. Now it's the time to realize we have something big to accomplish and we need to face the facts: we need to cut back on spending. Sound like you're tuning into a news program about the government?
Before coming to law school we were good about keeping a budget. It worked like a charm and we stuck to it. We made a chart, sort of like a punch card, and hung it up on the fridge. Here's an example:
There were a few times where we only had $5 to spend in groceries and a week left of that month. We made due with what we had. So now, we're back in the game. We looked at the last 3 months' spending average for each category and cut it by at least 25-50%.
I believe we're not in an economic downturn, but that this may be the new economy for the next 10-20 years*. Our time to be frugal and realistic is now. And having a family budget is our step towards being more self-sufficient.
How do you set up your budget?
*The Fourth Turning by Strauss & Howe
8 comments:
wish we had some sort of budget. I'm sure we do, I just don't know about it. I don't do the money stuff obviously - otherwise we'd be swimming in fabric with no food and nowhere to live. hehehe
Your plan sounds really great!
I really like your punch card idea! We may start doing that too! We've been working on redoing our budget because we never actually reconfigured it when we moved here.
I agree that I think things are staying like this for a while. I love your budgeting idea.
Loved this post. I love the idea of the punch card. Very easy and if you are rounding up, it may mean you have money left over in the end too! I use a "check" register that I make in excel and take the amount we want to spend and put it at the top of each category. As it gets spent, I subtract it so I always know how much we have to spend in every category. It has helped us spend quite a bit less a month than we might have. I am for budgets all the way!! I guess I am a nerd like that. :)
Dahlia, you're awesome! I've been trying to find a budget idea that is realistic and that I can keep up with EASILY, and at a glance...and not have to spend hours every week and month on, inputting info so it stays current. I may just have to implement something like your punchard. I really wanted to do like the Money Matters Mvelopes, where money goes into specific envelopes every month, and taken out when spent, and I thought about using monopoly money for keeping track of groceries in my purse, so I had a tangible reminder and didn't have to check the computer every time I went out. Alas, I didn't do it. :( I do use the Money Matters Money Map software, by Crown Financial, and it's a great program, but I don't keep up on it enough. I need something I can glance at in a mommy's moment of time as we scurry out the door. Even if it's just for groceries, gas and entertainment or miscellaneous things, I think this will help me immensely. Oh yeah, the other major change we made for the sake of the budget is for Mike to go...not me. I have a hard enough time telling myself "No!", let alone 2 little girlies. Granted, we don't always end up with the same deals I get, or the same brand or product even, but we also don't end up with bags of unneccessary items...most of the time.
Way to go on this idea! Another Gold Medal for you Dahlia! Love you!
We had a hard time w/ a budget until we moved into our home.. and found it alot more expensive to have one!! we take out cash everyweek and when its gone.. its gone.. that the easiest for us, it has worked well so far thankfully! Great ideas!
oh yes, and congrats on your own piece of the last frontier!!
I love this idea! We have been shaking things up with our finances and budget as well in preparation for buying a house when we move. We have fallen in love with Dave Ramsey and his book "The Total Money Makeover". I also listen to his podcast like every day. He recommends cash envelopes but I find it hard to get into that. The punch card is a fabulous idea though to still see exactly how much you have left for that month. We are definitely going to try it out!
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