How do you manage your money?

Discussion in 'Money Management' started by debs, Apr 29, 2011.


    • Staff / Admin

    Level 4 Mingler 60%

    Like the title says...How do you manage your money?

    Do you budget weekly,monthly, never?

    How do you do your budgeting?

    Level 1 Mingler 0%

    I never do budgeting, my parents does. But generally, i split the whole money to something per day, and use it.

    Level 3 Mingler 40%

    I do ours monthly, I know what is coming in at the end of the month and I sort out what the outgoings are for all the bills.

    I put aside a little for emergencies and unexpected outgoings

    I usually do the shopping for a week at a time and I know more a less exactly what I will spend in that shop.

    I have a money book that I write every spend and withdrawl in and I know exactly where my money is going more a less all the time
    • Premium Supporter

    • Staff / Admin

    Level 4 Mingler 60%

    Bloody hell that's organised I never plan I'm a last minute man lol do everything at last second all the time :D

    Level 2 Mingler 20%

    I budget daily. I'm constantly watching my bank account. :p
    I use tools like Mint.com to help budget and I also have a few ways to help me not spend so much.
    For example, I will send $100-$200 to my PayPal every paycheck and then send it back to my bank account.
    That way it can't be spent for another 3-4 days (PayPal takes that long to transfer money to your bank account)

    Level 2 Mingler 20%

    To be honest I do not budget at all! I dont really feel the need to budget right now because I am still young but when I get older I will probably budget monthly. I feel that budgeting yearly will be too broad and I would like specifics. Monthly would just be a lot easier to me. Right now though I usually just spend my money whenever I see something promising. I know that this is not good but that is how I do it. I should probably work on that :)

    Level 3 Mingler 40%

    I don't have a formal budget. But, a couple years back, I worked out on paper what our monthly expenses are and allot money for them as they come up. My family's fixed expenses are usually the same every month, except for electric bill and food which can be very high depending on the month of the year. For instance, in the summer time, our electric bill skyrockets cause we use the central air conditioner all the time. There's almost no way around that. Except this year, I am planning to buy a window air conditioner to cool the livingroom and shut off the back rooms during the daytime. That will be a big money saver. As for the food budget, I could do a lot better at saving money and cooking more at home. It takes so much time to cool everything from scratch, up to three hours a day. And, there are just too many other things to do, so I find myself cheating the process and using box dinners and quick meals from the deli. That can get very expensive.

    Level 3 Mingler 40%

    Right now I do not budget my money my wife and I racked up a lot of bills when she was going to college. Right now we are paying as much as we can on bills every month and should be debt free next year.

    • Staff / Admin

    Level 3 Mingler 40%

    i cant budget money to save my life i have debts lol they take up pretty much all my money so mum has to take over and get the stuff i cant afford to get and i dont like that

    Level 2 Mingler 20%

    Don't you actually lose money that way?? I though paypal doesn't like you to deposit to your bank account, so they keep a percentage when you do? Or am I mistaken?

    I don't budget at all.. I still live with my parents, so I don't have any expenses.
    Want I want to buy something (e.g. a laptop) I check my bank account and see if I have enough money. If it's not sufficient, I wait and save a bit more.

    Level 2 Mingler 20%

    I do my budget weekly. I'm in the army camp in the weekdays so I only have weekends for myself. I get my monthly allowance and allocate how much I can spend, and every week I only spend that amount and no more.

    I actually save up quite a lot, considering my low and pathetic allowance.

    Level 1 Mingler 0%

    I save up by putting my money in the bank, but I always have some cash lying around. But my parents usually keep me in check, I am a bit sloppy when it comes to money.

    Level 2 Mingler 20%

    One thing i'm not good at is managing money. Thanks for the above advise @Mian Bao.

    Level 2 Mingler 20%

    They may for a regular account but I have a Premier Account so I'm not sure if it's the same but they charge me.

    Level 3 Mingler 40%

    Well, what I currently do is follow the Money Jars. This was a step given to me by a friend who is a financial adviser. :)
    1. 50% on expenses such as bills and groceries.
    2. 10% for play like watching movies and eating out.
    3. 10% for investments and other business ventures.
    4. 10% for education on investments.
    5. 15% for long-term savings like a house and lot and cars.
    6. 5% for charity.

    Level 3 Mingler 40%

    I'm on a pretty tight budget so I watch all my income and expenses. If my income drops, I buy less food. But if it goes up, I treat myself to some Chinese.
    moneymakingmom likes this.

    Level 3 Mingler 40%

    I like Chinese food, too. But, it is a rare treat in my house, for money and health sake considering how much salt is in the recipe. Still, I won't fuss too much over the occasional Chinese dish, cause they use so many yummy sauces and real veggies. You don't get that in a lot of American foods.

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