Better Budgeting Challenge
Kacie at Sense to Save has started a budgeting challenge, actually she started it last week, I am just a bit late to the party!
So, now she has the second part of the challenge up and I need to catch up to everyone else!
So, part one of the challenge was a survey. Here goes:
- How have you used a budget in the past? I have always used Microsoft Money to track our spending and saving, it makes it easier for me to understand just what we do with our money
- If you’ve never had a budget, how have you made decisions on how to manage your household finances? We used to fly by the seat of our pants!
- How did you put your budget to work? I have always used Microsoft Money reports to track spending and see where corners could be cut.
- In what ways did your budget (or lack of) work for you? It has helped us see what we spend our money on and therefore made it easy to cut back on things that were not necessary
- In what ways did it fail? So far, So good.
- Think about your past experiences with budgets and your home finances. How do you want to use a budget in your personal finances? I want to maintain a budget that can keep our spending in check without us lowering our standards of living.
- What is your overall purpose in establishing a household budget? What do you hope to gain from it? Eventual financial freedom, the more we save now, the more we will have to live on later.
- Anything else you want to mention about your past or future budgets? Nope!
Step two is pretty easy for me-Set up your budgeting system. Because I already use Microsoft Money, I am a step ahead, but I would like to streamline my system and clear out the clutter. So that is how I will complete this challenge-re-organize my budgeting system and hopefully make it more efficient by doing so.
Now, it’s your turn! Head on over to Sense To Save to check out the challenge and join in on the budgeting fun
Happy Budgeting!
Topics: Finance & Money |
January 14th, 2008
Way to condense it all into one post!
I think you’ve hit on a key point in frugality: “I want to maintain a budget that can keep our spending in check without us lowering our standards of living.”
Well put.
I hope we can all achieve that this year.
Kacie’s last blog post..Better Budget Challenge # 2: Choose your budgeting tool
January 18th, 2008
[...] at Mommy Gets Paid condensed challenges #1 and #2, and told us she uses Microsoft [...]