ChrisKelly5

As you may be able to tell by some of my recent post in here... I am trying really hard to get my finances / credit in order... It's not that I have a ton of debt (mortgage, cars, 2 cc) that's it... but, it seems I can't get my credit score up. So, my goal is to pay down my 2 cc to a zero balance, and try to stick to a strict budget for once in my life.

Does anyone have a spreadsheet (excel) or anything like that, that would be a good example to work from? Or any advice in general?

I make pretty good money, and my wife contributes too (she is a kindergarden teacher) but, it seems like I am always running a little behind... HELP!!!!

If anyone can help me with this, it would be much appreciated... I can even give you some specific numbers if needed... Thanks, Chris.

CLpower

I just make a excel spreadsheet every month.

I have what I make, what my mandatory bills are, food, and I give myself spending money (I'm usually generous). Everything else goes into savings or to get rid of debt

bkknight369

microsoft money does it for me...i dont do the auto-pay stuff, but it helps me keep within my budget

ric

Some people swear by Quicken, which is a relatively inexpensive software package that helps budget and manage cashflow.

I just use an exel spread that I've set up. I run the numbers as I think they ought to be and then, after a six month period, look at where the expenditures have really gone.

If you're always "running behind", take a look at your major expenditures, including house and cars - and see if they are within the parameters of your income. If you're spending a huge amount of money on finance charges for credit cards, then look at one of the consolidation loans and then cut your credit cards back to one. (I'm down to one credit card and AMEX now). Then try to live on a cash only basis for a month - want to buy that new gadget? pay for it in cash, rather than the more abstract process of forking over a piece of plastic and a signature. Even if it is something I buy over the internet, I enter the cost in my checking account so that the money is there when the bill arrives......I do that from time to time, always a wakeup call and a fairly successful way to break casual credit card spending.

anothercls

I've never used quicken, but Microsoft Money really does a nice job at managing things, check book, debt, bills, spending. The newest professional version seems to allow you to get instant stock updates to watch your portfolio.

doopstr

Money Basic can do that.

ChrisKelly5

Thanks guys... should I just go buy microsoft money.. or can I find it on the net?

jlukja

If you do your taxes using Turbotax then you can get Quicken Basic for free ( I think the same is true of Taxcut and Microsofy Money ) You buy them and then send in the rebate.

GreenMonster

I've really got to start doing this, as sometimes I wonder where the money goes. I'm a cheap bastard, so that doesn't happen too often tho'

JJ4Short

Man I just added up all the food I bought eating out and I spent $235 eating garbage when I live at home and can eat free that's not including dumb stuff I buy here and there because its ONLY $3 or $5.
I have Microsoft money but I am scared to use it because is it smart to put your personal info on your computer like that?

anothercls

I spent 235 on dinner and a movie Saturday night. I know what it feels like to waste all kinds of money on food. I avoid eating out at times.

ChodTheWacko

Tracking your expenses is easy - it just requires some discipline.

First of all, get a decent finance software, like Quicken and Money. And go buy the damn thing. All you need is the basic edition. It's like $20 or something.

Second of all, whenever possible, pay via credit card. Pay via as few credit cards as possible, to keep things simple. For cash stuff, keep the receipts. Or just keep a rough idea. For example, I make a rough estimate that I spend $15 a day on eating out, and just run with that. It's the credit card purchases that are likely to eat most of your money though.

Then once or twice a month, punch everything into money. Go to your credit card site, or punch it in when you get your statements. This is why I recommend using as few credit cards aspossible. It keeps things simple. Don't sweat the privacy issue, you don't put account numbers or credit card numbers in there. It's all generic. I just glob everything into a 'checking' account, and put all expenses/etc in there.

THe first couple of weeks, it is a little more work. But after that it's easy. I spend maybe an hour every two weeks, and that's only because I double check everything.

A budget is no use without discipline. I spend 1/3 of my money to pay bills, save 1/3 in 401k/savings/etc, and blow the other 1/3 without hesitation. But I never allow myself to go above that 1/3, no matter what.

- Frank

mt6forlife

Paying by debit card or cash is a great way to cut your expenses. Its so much easier to spend money you shouldn't when you don't get a bill until next month. Then you get the bill and its like "Goddamn, how did I spend $600 on all that stupid shit??!?!" That simple trick has saved me a lot of money. Yes, I understand that you can use a credit card, get points or cash back, then pay it all off at the end of the money. Been there, done that. But it makes it too easy to spend money on things you don't really need or even want all that badly.