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Just getting started

December 19th, 2007 at 08:27 pm

I am new to this site but not new to this delimma. I try so hard to live within budget and try to save but after 18 years of living on my own (married for 11 of it) I have nothing to show for it. I am tired of feeling like we are always struggling to make ends meet. My hubby and I make decent money--not a lot but we are not poor. And we never have anything left over. And I know that has to come to expenses. So, starting today we are going to be looking at where every last dime is spent. I have tried (unsuccessfully) over the years to track this but something has to change. I need to visibly see where it is all going. I have the checking and savings accounts set up in Microsoft money and now I just need to start tracking. and, I need to come up with ideas to make the money last longer. The budget belt is about to be tightened--as far as it will go.

Posted in Financial Goals | 6 Comments »

6 Responses to “Just getting started”

  1. fern Says:
    December 19th, 2007 at 09:48 pm 1198100892
    1198100892

    If you have trouble saving on your own, why not put savings on auto pilot, meaning you have your mutual fund house or bank automatically deduct from your checking account each month a fixed dollar amount. That way, you don't even need to think about it. Consider that money long-term savings not to be touched for any reason. In fact, don't even think about it!

  2. Ima saver Says:
    December 19th, 2007 at 10:33 pm 1198103635
    1198103635

    Welcome. What I did when I first started, was always to pay myself first. And then, never touch that money, save it. If you save what you have left over, you will never have anything left over. Consider your first bill to be paid, to be paid to yourself.

  3. sagegirl Says:
    December 20th, 2007 at 04:23 am 1198124613
    1198124613

    I do have an automatic savings plan, I direct $100 per month to an online ING savings account. Problem is, when I have a budget shortage, which I ALWAYS do, I end up transferring the money out to my checking account to cover shortages. I never have more than $100 there month-to-month. My problem lies with budgeting issues and I have been unsuccessful in controlling it. I need to go with fern's advice and try to ignore it--or "forget" it is there. Not even think about touching it. Psych myself out.

  4. pretty cheap jewelry Says:
    December 20th, 2007 at 07:08 pm 1198177686
    1198177686

    My husband is a budget wizard! He has a very detailed monthly spreadsheet for the next 12 months (or more).

    You can see exactly what's coming and where it is going.

    once it is set up it is not time consuming to maintain.

    Start one using your last couple months expenses to forecast. It really works for us, but I don't do it, he does.

    And stick with many of these folks who are really really helpful.

  5. sagegirl Says:
    December 20th, 2007 at 08:40 pm 1198183216
    1198183216

    Thanks pretty cheap-- I will be working on this over the holiday when I have some free time. A four day weekend is perfect to get some of this stuff done. I also need to purge files so I can start gathering my tax info. I need a better way to pay bills also.

  6. terri77 Says:
    December 23rd, 2007 at 03:31 am 1198380684
    1198380684

    Pick up David Bach's Automatic Millionaire. I think you'll benefit from his advice greatly.

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