Comments on: Budget Categories – Less is more http://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/ Proverbs 13:11 - "...he who gathers money little by little makes it grow." Wed, 08 Feb 2012 18:29:01 +0000 hourly 1 By: Christinehttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-18823 Christine Tue, 08 Jun 2010 17:56:35 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-18823 I'm having the problem with getting frustrated that I don't have enough to fill all my envelopes. Here are just a few. Home Repair Car Repair, Property Tax, Household, just to name a few. There is no way I can get a good home repair amount built up by putting $10 in each payday. I was thinking of putting all the left over in one envelope until there is a good amount in case of an emergency, than start on the next one. What do you think? I’m having the problem with getting frustrated that I don’t have enough to fill all my envelopes. Here are just a few. Home Repair Car Repair, Property Tax, Household, just to name a few. There is no way I can get a good home repair amount built up by putting $10 in each payday. I was thinking of putting all the left over in one envelope until there is a good amount in case of an emergency, than start on the next one. What do you think?

]]> By: #032 — Links O’ The (Mid-)Week | MyMoneyMinute.comhttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9212 #032 — Links O’ The (Mid-)Week | MyMoneyMinute.com Tue, 24 Mar 2009 23:08:13 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9212 [...] Budget Categories: Less is More [...] [...] Budget Categories: Less is More [...]

]]> By: Simplify Your Personal Finance Life « Being Completely Frugalhttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9202 Simplify Your Personal Finance Life « Being Completely Frugal Wed, 11 Mar 2009 20:56:10 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9202 [...] example, we used to track budget categories like “paper products,” and “cleaning supplies.”  It might be good to know [...] [...] example, we used to track budget categories like “paper products,” and “cleaning supplies.”  It might be good to know [...]

]]> By: threadbndrhttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9201 threadbndr Tue, 10 Mar 2009 21:31:13 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9201 I have about 25 categories. Some of them are subdivisions (Utilities has gas, electric, water/trash - for example). I used to have more, but when your kids are grown, EVERYTHING gets simpler, really. I have about 25 categories. Some of them are subdivisions (Utilities has gas, electric, water/trash – for example).

I used to have more, but when your kids are grown, EVERYTHING gets simpler, really.

]]> By: Simplify Your Personal Finance Life | Frugal Dadhttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9200 Simplify Your Personal Finance Life | Frugal Dad Mon, 09 Mar 2009 11:03:08 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9200 [...] example, we used to track budget categories like “paper products,” and “cleaning supplies.”  It might be good to know [...] [...] example, we used to track budget categories like “paper products,” and “cleaning supplies.”  It might be good to know [...]

]]> By: Weekly Round Up: Mint Editionhttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9196 Weekly Round Up: Mint Edition Sun, 08 Mar 2009 17:02:18 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9196 [...] Budget Categories - Less is more [...] [...] Budget Categories – Less is more [...]

]]> By: Kenhttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9199 Ken Thu, 05 Mar 2009 03:52:13 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9199 I have a about 20 categories....these come under larger budget groups such as medical, food, insurance, housing, automobile, etc. It works for me. I have a about 20 categories….these come under larger budget groups such as medical, food, insurance, housing, automobile, etc. It works for me.

]]> By: Dianehttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9211 Diane Thu, 05 Mar 2009 00:00:16 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9211 I learned 'fund accounting' when I was 19; not only do they use it in business and industry, but it's great for your personal financial program. I have it this way: I use an plastic envelope system; it has about 10 pockets. They are labled, and inserted are the bills that pertain to that topic. Housing: House payment, home-owner association fees, taxes, insurance, electric. (Our water and trash are paid for through the home-owner association). Car: We've paid cash for our 2 cars for over 40 years, so I title this 'savings for new car' - I put in $300/month so I can accumulate what it takes for trading in one car; using the accumulated funds as the 'balance due'. In that pocket is gasoline, repair/maintenance, and insurance. Cable: This includes the I-net/television, and phone (land-line). Mobile Phone: This includes 2 phones. Food and personal allowances: We take personal allowances so we have some spending money that's not accountable for; add the groceries and our lottery tickets we buy. USAA Mastercard: Any charges on this are strictly for home items. NFCU Visa: Any charges on this are strictly for vacations and clothing. B of A Visa: Any charges on this are for medical expenses/dental costs, and gifts. Savings: $1,000/month minimum - $700 goes into CD's; $300 into a liquid savings account. All credit cards are paid off at the end of each month if each card has $500 or less on the balance. If a major expense is more than $500, then we pay it off in 90 days to minimize interest costs. As you can see the categories are about 10 in number; the same number as the 'pockets' in the plastic envelope. I've been doing this for so many years, I can't think of an easier way - it's worked beautifully for us. I learned ‘fund accounting’ when I was 19; not only do they use it in business and industry, but it’s great for your personal financial program.

I have it this way:

I use an plastic envelope system; it has about 10 pockets. They are labled, and inserted are the bills that pertain to that topic.

Housing: House payment, home-owner association fees, taxes, insurance, electric. (Our water and trash are paid for through the home-owner association).

Car: We’ve paid cash for our 2 cars for over 40 years, so I title this ‘savings for new car’ – I put in $300/month so I can accumulate what it takes for trading in one car; using the accumulated funds as the ‘balance due’. In that pocket is gasoline, repair/maintenance, and insurance.

Cable: This includes the I-net/television, and phone (land-line).

Mobile Phone: This includes 2 phones.

Food and personal allowances: We take personal allowances so we have some spending money that’s not accountable for; add the groceries and our lottery tickets we buy.

USAA Mastercard: Any charges on this are strictly for home items.

NFCU Visa: Any charges on this are strictly for vacations and clothing.

B of A Visa: Any charges on this are for medical expenses/dental costs, and gifts.

Savings: $1,000/month minimum – $700 goes into CD’s; $300 into a liquid savings account.

All credit cards are paid off at the end of each month if each card has $500 or less on the balance. If a major expense is more than $500, then we pay it off in 90 days to minimize interest costs.

As you can see the categories are about 10 in number; the same number as the ‘pockets’ in the plastic envelope.

I’ve been doing this for so many years, I can’t think of an easier way – it’s worked beautifully for us.

]]> By: SJhttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9210 SJ Wed, 04 Mar 2009 22:33:36 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9210 I keep mine simple... food, groceries, gas, parking, laundry, and social. It helps that I'm in grad school and only really have food/grocery expenses. I use food mostly for when I go out to eat and groceries for groceries. I think I should collapse parking/gas (that only occurred b/c I had a conference...) And maybe make laundry a misc. category. I figure soon I'll collapse social and food together... but I still sometimes eat out alone. The main purpose of social is a guilt free category =) I keep mine simple… food, groceries, gas, parking, laundry, and social.
It helps that I’m in grad school and only really have food/grocery expenses.

I use food mostly for when I go out to eat and groceries for groceries. I think I should collapse parking/gas (that only occurred b/c I had a conference…) And maybe make laundry a misc. category.

I figure soon I’ll collapse social and food together… but I still sometimes eat out alone. The main purpose of social is a guilt free category =)

]]> By: Studenomicshttp://www.gatherlittlebylittle.com/2009/03/budget-categories-less-is-more/#comment-9207 Studenomics Wed, 04 Mar 2009 19:15:20 +0000 http://www.gatherlittlebylittle.com/?p=1421#comment-9207 I try to keep my budget fairly simple to be honest. The reason for this is that it forces me to watch every aspect of a certain category. For example; I place eating out & going for drinks with friends at entertainment. I feel that if I had 2 seperate categories I wouldn't feel as bad when I spend money on these items. I hope that makes sense. I try to keep my budget fairly simple to be honest. The reason for this is that it forces me to watch every aspect of a certain category. For example; I place eating out & going for drinks with friends at entertainment. I feel that if I had 2 seperate categories I wouldn’t feel as bad when I spend money on these items. I hope that makes sense.

]]>