Money Questions

[callistra]

OK, I am curious. Post anonymously if you like, but who has a budget?

And who sticks to it?

Do you attain your goals?

Or do you just *think* about the goals and never quite make it?

Do you actively save?

Are you on one income or two?

Comments

[stephen-dedman.livejournal.com]

Sort of; sort of; no, I usually make the goals (or come close enough that my credit cards don't explode); yes, when I can; one and a bit.

[(Anonymous)]

Hiya,

I do have a rough budget, I don´t go over or under at any one time too much. I mean if there is something I really want to buy or do or something I am not going to go "no way it is over my budget" you gotta live a little. We shant be mentioning the holiday budget as that got butched for the month in Europe, but surprisingly was well kept to elseware.

I think I generally do achieve my financial goals, but then they arent anything long term. I mean I saved up enough to take 8 months off and potter about the planet plus all the other trips I have taken and lived comfortably in the 8 years of being employed. But a house downpayment, that is a bit too much commitment for my liking. I don't understand enough to buy shares or any other investment stuff.

Over the past few years I saved by having a small amount taken directly out of each pay and put into a savings account that I didn't touch, so I was saving money without even thinking about it as I never saw it. For me it is easier to save money if it never physically reaches me. Thus making cash in hand work a slight nightmare, but I got around it by getting my pay changed into big notes where possible and not letting myself spend $100 or $50 notes.

HTH, you know where to find me for more prodding.

-moonbug

[nightmancyr.livejournal.com]

I don't have a specific budget but I don't like to let my account get below a certain amount. Graeme and I have 2 incomes. We really should start the "live on one income, bank the other" thing...I don't know why we haven't yet. And sometimes we attain our set goals, but sometimes we just set them. We'll get there, in the end. Oh, and I know you shouldn't start a sentence with 'and', but occassionally it is the only thing that fits!!!

[tcpip.livejournal.com]

I budget with firm figures and "more or less" keep to them.

When I started my business, as required by RMIT, I submitted a budget that pretty much had every $ sorted out for the next twelve months.

When my financial mentor visited me, I simply pointed out that my income was about 75% of what I expected, but from completely different streams (I did not expect to be a sysadmin for an ISP!), but my expenses were less than 20% of what I budgeted.

"I don't need to visit you anymore", he commented.

I have vague savings plans and vague reasons for saving which tend to become reality about 50% of the time. I live cheaply but (I think) stylishly, but then spend all my money on travel...

[angriest.livejournal.com]

I have a vague budget, and I vaguely stick to it. I sometimes attain my goals, but I regularly fall short. I try to save, but regularly fail at it. A year of deliberately under-working in order to concentrate on writing drove me fairly heavily into debt, and I'm still trying to buy my way out of it now. I'm in a two income household, but one of us is on a disability pension so it's not a very big joint income at all.

I think that covers everything.

[mynxii.livejournal.com]

K and I are learning what its like to be out of panic/damage control mode. Now we are in planning and opportunity mode, which is a whole lot of new mistakes, that are different from the old mistakes we have both made, however the old ones we are making less often. We have a budget and generally stick to it, sometimes things happen that fall outside of it, which is probably what causes the most hassle, but slowly but surely we are getting there.

[akire-yta.livejournal.com]

Yes, and I do stick to it (but mainly because i have a slushfund for emergencies and luxuries). I also save, but usually for a purpose


I'm a cancerian - we're famous for hoarding our cash :)

[valeskah1.livejournal.com]

Heh. Im a Capricornian - stingy with one hand, but very free with the other.

[http://users.livejournal.com/doctor_k_/]

Really? Gee I'm glad I'm swapping birthdays this year. I give Cancerians a bad name : )
Let's see how I do as a Pisces

[akire-yta.livejournal.com]

birthday swap? intriguing


btw, are you born in June (before you swapped?)

Last year at Nacey's party, we discovered that every June cancerian in the room had a mole on their hip. Does the theory still hold? *gg*

[http://users.livejournal.com/doctor_k_/]

No, July. Like angriest.
No moles on my hips. At least, I don't think so. I'll check when I get changed.

I hate winter. i hate having my birthday in winter. Only time I've enjoyed a July birthday has been when I'm up North, or in the northern hemisphere.
Happily I've found someone who's birthday is in March and who hates summer. Bingo! Why didn't I think of this before?
Expect a party in March for this ex-Cancerian.

[numbat.livejournal.com]

I don't save as such because over the years as I've grown better at handling the money that I earn the amount that I'm earning has steadily shrunk. Now I get by better on $15 000 than I did on $25 000 ten-fifteen years ago. If, as I hope, I begin to earn more this year I think short-term saving is possible. Anyway, over the last couple of years I've managed to mostly reach my goals by setting myself very few in the first place. Again, if my income improves this year I'll begin thinking about more goals. What I'm most pleased about is that since 1996 I've not owed money except for the usual sorts of bills, no loans or credit cards etc. So while I may not earn much I don't have to worry about any burden of debt.

[syncretin.livejournal.com]

So not. *facepalm*

[valeskah1.livejournal.com]

I don't have a budget but I actively save. I am on one income. I usually reach my goals, but not necessarily in the way I'd originally planned it. ;)

[caitlen.livejournal.com]

Mm.. Budget. Yes. I can budget.

Doesn't mean that I do.

This year, I am. I can spend every single thing that comes into my bank account each month (and I get paid by the month, therefore I must budget to an extent every month) really quiet horrifyingly easily. However, if I have a plan (ie, buying scooter, going on holiday) I can save. HARD. This month, after bills and savings, I had the grand total of $23. That's including saving a good $1000. I survive on a single income, am saving for a trip to Canada, and should be buying a small unit, all in this year.

Of course, in the last year, all I did was think about the goals, and never quite reached them.

The key is having two bank accounts, one that you use every day, and one that you literally can't touch and it takes at least 24 hours to get money from. Or, in my case, have it set up so it's more like 48 hours. *grin* Transfer all your savings into the account as soon as you get the money, and live on the rest. BUDGETBUDGETBUDGET!

However, this is coming from a Libran. *stupid grin* Who can easily spend every penny allocated within 10 - 14 days and be bitterly poor for the rest of the month XD

[callistra.livejournal.com]

Yeah, we had a secret bank account too, and were very disappointed when Unicredit caught up with the century and all of a sudden the money was only a few hours away instead of an entire working week.

*sigh*

[caitlen.livejournal.com]

I feel your pain.

[callistra.livejournal.com]

And don't talk to me about when they started talking away passbook accounts. They used to bring me great joy.
:-)

[punkrocker1991.livejournal.com]

When I want to budget I can, and I can be a bit anal about it and have excel spreadsheets for everything. am in this mode atm, saving for Worldcon and the 1000 miles o' whisky tour of scotland that will follow. If I need to save I will meet my goals, but I can't do a general save money kinda thing. I need a goal to save for. I'm on one income, and a slightly substantial one at that, but may not be in April.

[kremmen.livejournal.com]

No [1]; n/a; yes [2]; no; n/a [3] ; one.

[1] I've never needed one. I don't generally find enjoyment in the spending of money per se and I don't generally find that what I need is expensive.

Indeed, I get some pleasure from finding perfectly good things that are inexpensive. I bought a lovely 24-pin dot-matrix printer at my local op shop a few years back for $5. I've replaced the ribbon once (about $10) since. It's never given me any trouble and will probably run almost forever. I could have paid $100 for an inkjet printer instead. Then there's the fortune to replace ink cartridges. And you'll probably just buy a new cartridge just before the whole thing falls apart and you need to buy another printer altogether.

I've never bought anything in my life (including cars, etc) that I couldn't afford in cash. (If I can't afford it, I don't buy it. If I can afford it, I put it on credit card and get the frequent flyer points.)

[2] I usually attain my goals, but they don't require me having a budget.

[3] It depends on what you mean by "actively save". Whatever I don't spend is saved/invested in some way or another. The cash part is all in accounts which don't charge any bank fees and all but a tiny amount for possible ATM withdrawal is in accounts that earn decent interest. Nothing active is required, but I do invest actively at times.

[i-ate-my-crusts.livejournal.com]

Budget? Sort of. WE allocate money to various funds that we can't get the money out of easily. The amount that's free is small, and we usually keep our spending well within it. It has space for splurging.

I highly recommend Kate Beddoe's book "Saving, Spending, Splurging", which is about budgeting with room for fun :)

I actively save. I also tend to have blow out gadget buying sprees.

one and 1/2

[http://users.livejournal.com/doctor_k_/]

Bud-get? That must be like those wee-kends I hear so much about ; )

[lucretiae.livejournal.com]

Yes I budget and usually stick to it. Many years ago living on the dole ($130pw at the time) and having to fork out $100 a week for rent for 6 months taught me to be a budget nazi woman from hell.
Hell yeah I attain my goals! Anyone that wants proof I'll send them a postcard from my shortly upcoming 4 week luxury cruise around SE Asia on the QE2 *BIG GRIN* (and before you say I'm a lucky bitch, luck had nothing to do with it)
I actively save and make my savings work as hard as possible for me by paying extra in my mortgate payments each month.
And all this on one income and although it's a pretty good one it's still probably not as much as the average couple would earn if both were working full time.
Anyone can save and can achieve their goals, you just have to show restraint and realise you can't have *everything* now. You have to plan for it.

Budget: From Lyn

[(Anonymous)]

Battboy and I have a budget. It's called "get the money in and then spend it on any little frivolity that takes our fancy." Consequently we have alot of "stuff" but no savings account to speak of.