Budgeting/Finance Question

[IncredibleHoss]

Hey guys. Just start thinking about actually setting a budget and using it for once in my life.

Anybody use a Excel spreadsheet/quicken etc?

I always pay my bills and have never been a day late on any bill in my life. I hate automatic payments because I currently make enough to live comfortable, just not too comfortable.

I pay my car, utilities, insurance etc through billpay with my bank. Same goes for credit credit cards.

I have 2 credit cards- 1 with my bank that has IMO a high limit of $8000. Currently i owe about $2000 on the card and my other card is a charge card from american expresss.

My gameplan for fuel,groceries,eating out is to use my AMEX card and pay it in full each month.

What do you guys do for your budgeting? Currently my Fico's are Equifax -759, experian -728 and transunion 744.

I pay rent monthly and looking to become a homeowner next year once I get my married.

Any advice or tactics?

Thanks Fellas

 

[smurf2]

Its not hard to do. Youre a single guy who rents. Just outline all your monthly expenses/bills and your income. Then decide how much you want to sock away in savings per month, and from there you can figure out what your discretionary income is.

It shouldnt require any kind of program or anything. Its simple math really. And excel spreadsheet will be perfect

 

[IncredibleHoss]

Thats true. I guess the hardest part with me is my monthly bonuses fluctuate anymore from $200 a month to $1500 a month.

I guess i should under-estimate my income with my base salary. Use my additional income from bonuses to pay down my credit card debt and put some back into savings.

 

[IncredibleHoss]

i appreciate the quick response. 500k Karma donation sent to ya

 

[IncredibleHoss]

I just want to always be a step ahead and plan for my future.ive seen way many to many people get over there head indebt

 

[zeosim]

Look up suzie orman that girl will answer all your questions and more. She's great!

 

[smurf2]

I think youre doing better than most people.
Thx for the karma

 

[Straightshot]

My pay checks at work vary on how much OT i put in, but im always at least 50 hr a week the budget is set at the amount off 100 hrs a check then the extra gets split half to bills half to my toy buying fund.

 

[billfred]

Thats true. I guess the hardest part with me is my monthly bonuses fluctuate anymore from $200 a month to $1500 a month.

I guess i should under-estimate my income with my base salary. Use my additional income from bonuses to pay down my credit card debt and put some back into savings.

excel is dead simple to set up. For bonus, the trend is your friend. Go back and look at your average bonus for last 12 months and use that - it will all come out in the was.

Easiest way for me to budget was turn it over to my wife. She is a j00 when it comes to money. I am still on some Dave Ramsey envelope system. Theory being you spend less at the store when you are pulling out cash instead of a credit card.

I am not poor, yet she still only gives me a $150/week allowance. WTF?? I have to get some balls.

 

[hardrock]

I got a good app on my phone for that. You can add and deduct and set up payment reminders and scheduled payments and income.