Monday, 26 Jan 2009
photo credit: curiouslee
This weekend, I finally finished our 2009 budget. Unlike traditional budgets, I don’t set a hard and fast dollar amount for each category. Rather, I plan for the important things (tithes, taxes and retirement savings) then see what’s left after that. That amount is considered discretionary spending (my personal spending, Mr. Savvy’s personal spending, travel expenses and household expenses). I was surprised to see how much disposable income we have left, especially since it sometimes doesn’t seem like it.
However, when I look back over our 2008 spending, I can see where the bulk of the money went. Travel expenses (something we LOVE to do) and household expenses. Last year was our patio project as well as the purchase of some big-ticket furnishings and incidental decor. I suspect that this year will show similar spending. We have a week-long vacation coming up soon and are in the process of planning a week-long spring/summer vacation. We just purchased dining room furniture and will probably buy another big-ticket item this summer (still deciding on which one).
Do you budget? If so, what method do you use? If not, why not?
January 26th, 2009 at 1:07 PM
I really believe in budgeting and somehow we have let it get away from us. However we will be budgeting soon. I’m unemployed for the moment so it’s very important! We are going to do the automatic withdrawl thing too, for savings and bills, and then see what’s left.
January 26th, 2009 at 7:49 PM
That is how I budget as well. Things like car insurance, taxes, doctor bills all go into a slush fund of “expenses that i forget about but aren’t emergencies” fund. Everything else I am always prepared for.
January 26th, 2009 at 9:36 PM
yep, i have a budget. similar to you, i have fixed expenses (charitable giving, savings, household … all of my utilites are on budget billing) and everything below the that line is considered discretionary. however, i allocate the discretionary between personal, gas, groceries, and blow. those are my various discretionary/cash categories.