Budgeting system
I’m always curious how different people settle on different ways to budget because if you don’t find the one that’s right for you, you won’t stick with it for very long.
I use my credit card for absolutely everything, redeem the points for cash, and pay the whole thing off every month. I keep track of everything online, on a day-to-day basis, and if I’m over my allotted amount per week I stop spending. That simple.
So I tried to inculcate my fiancee with the same system—it did not work. Credit cards just weren’t her thing. So a friend told her about the envelope system of taking out the cash for the week and not taking any more out. Once you’re out of money your week is done. I was skeptical. She loved it and has stuck to it ever since.
What other budgeting systems are out there? What do you use and how does it work for you?
October 23rd, 2007 at 6:12 pm
[...] bit rash? Well, like all things, it depends on the type of person you are. Like my post about what budgeting system you use, not every system works for everyone. FSAs are going to work well for you if you have a documented [...]
January 2nd, 2008 at 5:46 am
[...] bit rash? Well, like all things, it depends on the type of person you are. Like my post about what budgeting system you use, not every system works for everyone. FSAs are going to work well for you if you have a documented [...]
January 9th, 2008 at 6:21 am
[...] a lot of fine print to wade through and they all have more footnotes than Infinite Jest. Since my budgeting system involves putting all my purchases on my credit card, it’s worth it for me to do my homework [...]