I hate to admit it, Blake, but I don' think that Denise and I have ever lived by a BUDGET. This will probably be news to our kids. I think all they will remember is how cheap we were. Oh, well.
Now we are keeping track of every purchase and every expense. Basically, we are living off of Denise's salary. Mine, such as it is, goes to my school tuition, fees and books. Through scholarships, loans and work, Kendall is paying for most of her expenses in MALIBU (ok everyone, let's feel REAL SORRY for Kendall:), but we have some money set aside to help her if she needs it.
Any wisdom about budgets out there?
I am using Mint.com to make a budget. It isn't perfect but it's free. I am wondering if anyone has any experience at using this website as a budget tool or if they have other budget tools that they use that are FREE (that has become a very important word around our house:)?
We've used mint.com before. You're right, it isn't perfect, but it is useful. We probably should use it again. I'm assuming that Blake has preached about all of the stuff I know about budgeting. :) I love reading about what you are doing. You're an inspiration!
ReplyDeleteSometimes being "cheap" is a budget in itself. Even though I didn't really realize the importance of saving $2.50 per person for ordering water instead of another beverage, ya'll saved an average of $15 when we did go out to eat. These pinched pennies then went on to more important things...family vacations, school clothes, etc.
ReplyDeleteAs each daughter left your roof, your funds became bigger. We sucked you guys dry! You and Mom will live on your family of 7 budget once more only now you don't have to work 3 jobs, and Mom is the breadwinner. Go Mom!
Obviously, Luke and I haven't figured out the perfect budget. But, I was taught where priority's should be. You might want to search for some ideas on the Today show website. The other day, on their "SOS: money" segment, they had some great budgeting ideas (including mint.com).
Love you both and I think my cheap parenting has saved my adult finances!
Please contact Brett Perkins at jennyandbrett@yahoo.com. He has created a budget plan that is used by many. He calls it "PMS"...for "Perkins Money System" or something like that.
ReplyDeleteFrank, I hope you will see soon how a budget is not something that ties you down, but rather, freeing, allowing you to spend within the boundaries you and Denise set. The anxiety and stress then will take a back seat once you fully engage in budgeting and tracking every dollar.
ReplyDeleteI have tracked every dollar (I used to track every penny) since December 1997. I've treid different methods, but Excel always trumps what I have found on the market. I realize spreadsheets are probably not your thing, so try different things. Mint is a good tool. Keep it high level with the categories also. No need in having 59 budget categories like me.
I'm throughly enjoy watching this phase unfolding in your lives. I just want to watch the slide show from an uncomfortable desk when it's all over, just like the Italy slide show we saw in Bible class in junior high.
Brett, your 1987 DCJH 7th grade power forward
Thanks everyone for the encouragement! I hate keeping track of things but I think we just need to do it.
ReplyDeleteBTW, didn't have any great power forwards in the 7th grade named Jenny, but had one dynamite power forward named Brett. You should have seen him dominate FBA @ FBA.
Dad,
ReplyDeleteWe have used mint for several years now - it's not perfect but we like it better than Quicken which I used before that. I'm happy to help you with it any time you want!
Btw, I have to say that I am not at all surprised that this is your first budget! :-) But, I think you and Mom will do a great job with it!
I love the way you compare starting over now to going to Italy in 1980 - the Lord took care of you then as He will take care of you now. It is very inspiring to see you and Mom following the Lord in every way.
Love you!
You crack me up. I am sure you have heard of Dave Ramsey. He probably could still be heard on an AM station Klif 570. I got my start with one of his forms I got for free online. http://www.daveramsey.com/tools/budget-forms/ I continue to use Mint if I am curious how a particular month went. You are the man. I still don't live on a budget per se. I have categories that are big. Thinking about the future more. keep posting....
ReplyDeleteThanks for your feedback - it is really good to hear from all of you.
ReplyDeleteGod bless your efforts, Frank! Angela and I set up a second checking account. Each month we set aside money for the non-discretionary spending: giving, utilities, mortgage, saving, insurance, etc. All the rest of the money went into the second account for discretionary spending: groceries, eating out, haircuts, gasoline, entertainment, and even doctors appointments. We set email alerts on this second account when the balance started getting low. This forced us to change our spending until the end of the month when the account was replenished. We could use our smart phones to check the balance immediately to help make decisions on whether we could afford it or not.
ReplyDeleteI like that plan. We may end up borrowing it, Eric.
ReplyDelete