Budgeting

[Dragon Lady]

I find myself rather OCD (not really, but I lack for a better word) about my budgeting. I have a pretty intense spreadsheet that I update several times per week, typing in everything I spent. I have something like 8 savings accounts for various savings goals. So when my sister mentioned to me today that she doesn't feel like she knows where the money goes every month, I started telling her about my spreadsheet and some tips I use. And then later I found out that she uses Quicken, has for 15+ years, and has something like 20 grocery categories. Like grains and cereals, dairy, fruits and veggies, candy and sweets, drinks and something else, meats and protiens, condiments and seasonings, etc. Seriously? I see Smiths and categorize it as "Grocery". I see Old Navy and categorize it as "Misc."

Does anyone else micro-manage a budget like this? Or is she just crazy?

[chillygator]

She's just crazy. You might also be crazy too. Granted, the extent of my budgeting is looking at my bank account before I buy anything to make sure it has money in it, so who am I to judge? (o:

[Katya]

My approach to budgeting is also fairly laid back. I go over my bank statement carefully once a month and I have a big nest egg in my checking account so that I don't ever accidentally go into overdraft.

[bobtheenchantedone]

I'm crazy too, but in a whole different way. My budgeting is about as laid back as chilly's, only I'm running a business this way!

[Whistler]

I have a per month limit on my leisure spending, and we try to put money into savings, but other than that I kinda suck at budgeting.

[TheAnswerIs42]

Yeah, I tried budgeting once and went batty in that month or two. Now I'm with the others - make sure you don't spend more than you have. It works because I am the type of person that hates spending money so much that I will stand and debate a $3 purchase for a few minutes (usually putting it back), and because my husband has a job that covers our needs. I would be scared to see what would happen if I did need to budget religiously.

[Craig Jessop]

I'm crazy too, but in a whole different way. My budgeting is about as laid back as chilly's, only I'm running a business this way!

Aaaaand you just killed my accounting professor.

I keep a budget, but closer to Dragon Lady style than anything else.

[Genuine Article]

You all should be using mint.com if you aren't already. Seriously. I could play with their bar graphs all day.

[Dragon Lady]

You all should be using mint.com if you aren't already. Seriously. I could play with their bar graphs all day.

I do use it. Sort of. I just always forget to go in and categorize like I should.

[Dragon Lady]

Thanks to you, GA, I've now gone through and updated all of my UNCATERGORIZED transactions. Embarrassingly, that went back to December 2010. I really do forget to go in and update that. I'm sure there are still some that got automatically categorized incorrectly, but I don't care enough to go in and fix a year's worth of stuff.

And now I'm playing with bar graphs and finding that I spend a ridiculous amount on a monthly average.

[Whistler]

alright, you inspired me. I logged into my old mint.com account and got things going. Much easier than having my husband categorize everything in a spreadsheet.