My informal budget plan-- to spend no more than $400 a week for everything, such as diapers, formula, clothes, gas groceries, etc...ALL of it-- is actually working.
It's crazy. It's been about six weeks since we've started and it has been on the mark or slightly under every single week.
As a result, I was able to up the contributions to the kids' 529s by $50 a month and add $50 more a month to the savings account. In another two weeks, I may feel confident enough to up the savings a little more.
All of this, and we have still spent on extras and stayed under budget. I bought most of the kids' Christmas gifts, paid our entry fees for warrior dash, and bought some fancier cuts of meat to help me feel less deprived on my 6-week weight loss diet.
I guess I wonder why I didn't do this sooner.
Budget is working!!!!
November 2nd, 2010 at 01:42 pm
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I became inspired to "save" as much as I could from the "spend" envelopes. It is unrealistic for me to think about doing that during Nov/Dec (our high spending months). But I am inspired now to see how much I can save while spending.
Good going!
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It's amazing how much better we do financially we have a plan..even a really simple plan.
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November 22nd, 2010 at 10:38 pm 1290465508
I'd like to let everybody know about a new budgeting software called '3D Budget'. 3D Budget is the only budgeting tool that I am aware of that can truly balance your budget with your available funds. It reconciles your budget with your credit accounts and your cash accounts. 3D Budget is currently offering free permanent licenses to anybody who helps test its Beta version. Search for "3D Budget" in any search engine to visit the website.