Questions tagged [budget]

for questions that relate but are not limited to, budget planning, budgeting practices, budgeting software.

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1answer
78 views

Is $133 USD per month once critical living expenses are covered considered poverty-level living in the USA?

I have just finished programming a computer program which takes all my known, fixed incomes (sadly only one: welfare) and expenses (rent, food, medicine, basic Internet) for the last three months, ...
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4answers
332 views

Am I missing anything from this budget?

Background: My wife and I are thinking of purchasing a new home. The cost of the home (1.8M) maxes out our cash reserves, after taking into account the extra money required for moving and then ...
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2answers
75 views

What is a practical way of tracking expenditures?

The goal is to start tracking expenditures, create target limits for each category, and then try to keep to them. They only way progress can be made with this is if the expenditures are accurately ...
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4answers
211 views

Monthly budget - deferred expenses from savings vs Income? How to manage?

Background: My wife and I have put a monthly budget together using the Google Drive Budget Template. Pretty standard - Income section and Expenses section with rows allocated in each. It makes most ...
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0answers
43 views

Appartment Rent in a monthly budget [duplicate]

Good day; I'm making a Monthly budget to keep track of where I spend my paychecks. I stumbled upon the rent part; would that be considered a debt? Since it's basically something that I "accept" I'll ...
1
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1answer
73 views

What's the double-entry bookkeeping method for tracking a Safe-to-Spend balance and amounts saved towards goals and expenses?

The bank Simple has three great features: Safe-to-Spend Goals Expenses The Safe-to-Spend balance is pretty simple: it's just the balance in your checking account minus the total amount set aside for ...
33
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8answers
10k views

Why do personal finance apps focus on outgoings rather than income

I am looking at using a money management app, rather than just my own Excel spreadsheet, for my personal finances. The way I've always thought about my money is "I have a fixed amount of income which ...
4
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4answers
291 views

how to budget for random annual expenses in a monthly budget

I have a solid monthly budget, but I'm noticing that every few months a significant expense is needed (car tabs/registration, identity protection service, precious metals account fee, a trip to see ...
20
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12answers
10k views

How to manage expenditure when billing cycles and paycheck cycles are not aligned?

I get paid on the 15th and the last of the month and my husband will be getting paid weekly when he starts a new job after the one he has been working at for 25 years will be closing soon. How does ...
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3answers
162 views

Security risk of using a budgeting app connected to bank accounts

I've been tracking my budget the old way for a few years now by using Excel spreadsheets that have my checking account ledger and monthly expenses broken down to categories. But I have noticed more ...
0
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1answer
59 views

Search for budgeting app / web service handling automated sync and multiple currencies [closed]

I went trough quite a few budgeting web services / phone apps with the features below and could only found one (PocketSmith), but it suddenly stopped syncing EU banks. It would be great to have any ...
20
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10answers
7k views

How to save money by shopping at a variety of grocery stores?

I am living close to a mall with several grocery stores. I would like to save money on the food I buy. I have tried using apps that show me the best prices, ads, and coupons from multiple stores, but ...
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19answers
14k views

Are there any financial disadvantages to living significantly “below your means”?

By living "below" your means I'm asking about spending significantly less than you could, rather than living "within" your means which of course is sensible if you are able to do it! So for example: ...
3
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4answers
469 views

Using credit cards to implement budgeting when you don't have income

My spouse and I are between jobs right now as we are transitioning to new career situations. Our financial situation is stable and our prospects are good, but we will be without steady income for a ...
2
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4answers
387 views

Strategies to earmark money for large expenses

Like most people, we have several large expenses that we only have to pay once or twice a year like homeowner's insurance, car/home repairs and improvements, and saving money for a vacation. What's a ...
78
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8answers
23k views

Company stopped paying my salary. What are my options?

UPDATE 4: I'd be remiss if I didn't update this post with the outcome: I was able to recover about 1.5x lost wages (after employment attorney fees). The advice below I followed included: (1) finding ...
1
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2answers
288 views

What are the different methods for budgeting?

I've always used the envelope method to budget. I know Mint uses a different method, but I'm not sure if it has a name or not. It could simply be a derivative of the envelope method. Wells Fargo's ...
3
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3answers
273 views

How can I conveniently allocate small sums of money to budget for future expenses?

If I have $X in my checking account, and I know of upcoming purchases this month, such as, rent, groceries, a haircut, a new bicycle, a new pair of glasses, my gym membership, etc., is there an easy, ...
42
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12answers
19k views

How to manage monthly salary

I am a 22-y/o guy starting my first job. I am interested to know how I should manage my monthly expenses. Keeping in mind that I need to pay for my rented apartment, food, water, etc., save money for ...
47
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8answers
16k views

Paying off debt and living within means vs. long term planning

My husband and I are divided as to the best way to handle our current financial situation. First, a little background. We are in our high 20’s, have been married for six years and have three kids. ...
4
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3answers
344 views

How to set up saving for items in GNUCash: Asset or Expense

Let's say I'm saving for a car and I would like to save X amount on a month to month basis, where would I generally put this?
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2answers
317 views

Is it a good idea to invest in buy-to-let if rent does not cover mortgage payment?

Background: To benefit from current favourable interest rates in my region (France: ca. 1.5%pa fixed over 20 years), I am considering investing in a buy-to-let property. I consider that interest ...
2
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2answers
2k views

Does it make sense to buy a house to live in for a few years then rent it out?

I'm currently looking to buy a house to live in for 2-3 years, and then rent it out. Most recommendations I see are to buy a house if owning for 5+ years, but I'm not sure how that advice applies if I'...
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5answers
1k views

Is my weekly budget realistic?

My financial situation is out of control. I don't save any money and I'm trying to create a budget so that I can plan for the next year or so as there are a few things I need to get done such as ...
11
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8answers
7k views

Is it better to take highest mortgage you can afford?

My partner and I are looking to buy at the moment. I won't get into all the details but we live in Germany, have a budget in mind and have talked with a few brokers and providers. Our idea for the ...
91
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15answers
34k views

Spouse wants to pay all debt in a month but I don’t. Is this a good idea?

Between both of our student loans and car loan, we are in the hole about $48,000. My spouse is adamant about paying off all debt in the next month or two since we currently have about $55,000 in the ...
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2answers
283 views

How many budget categories are too many?

I have a budget with all the essential categories (rent, utilities, groceries, etc.) and I wonder if it is worth having a few (many?) non-essential categories even if my monthly contribution to them ...
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1answer
114 views

Do GnuCash Income entries ever stop contributing to the Income Account's total?

I'm building a personal budget in GnuCash and after entering my starting equity, I've added my new paycheck in the Income section of my budget. I've entered it as transferred to my Checking Account ...
4
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4answers
540 views

Should I have a “Vacation” category in my budget?

In my budget, I have a "vacation" category that I track along with other categories (like car lease, dining, recreation, etc). When you are on vacation you obviously do things that could be tracked ...
3
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4answers
265 views

Budgeting with unforeseen social events

I read with interest a lot of people's advice on here about planning their finances. Some even have budgets down to the last penny. My question is pretty simple - if you're of that mindset - what do ...
3
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5answers
239 views

How to deal plan a budget with extremely variable income?

I am a full time master's student. My income comes exclusively in the form of irregular scholarships and grants, both in terms of time and amount. I have no regular income. For example, I might get ...
84
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11answers
25k views

What to do if I can't trust myself with monthly wages?

I work in the UK, like most people here I get paid once a month. I've been doing this for about 2 years now (on a modest income) and my ability to make the money last has not gotten better (if ...
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2answers
542 views

How do you deal with amazon.com when trying to track credit card spending per category?

I am trying to put together a budget and one issue I see is that I have a lot of amazon.com transactions that I don't know how to allocate given I am not sure if these are gifts, home goods, etc. Is ...
2
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4answers
6k views

How can I stop “double-budgeting” goal items in Mint?

I have student loans and an auto loan that is set up as as a "pay off my debt" goal in Mint. I also have a "pay off my credit cards" goal. And finally, I have a savings goal as well. I like the Goals ...
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1answer
81 views

Cost categories of a software organization [closed]

I am a lead software engineer that has been asked to become part of a small pre-seed-level software startup. One of the principals has asked me to come up with a 1-, 3- and 5-year estimate operating ...
2
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0answers
72 views

Correct way to track paycheck deductions when using personal finance sites?

I have been using mint.com and personalcapital.com for a while now and was wondering how do you track things like health insurance, 401k deductions, and your real income (before deductions). Mint....
2
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4answers
99 views

Best loan/expenses to pay off to increase credit rating?

I am getting settled at a new job and starting to look into my personal finances to see where adjustments can be made. I have 7 companies I owe money to for various things like credit cards, car ...
3
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0answers
89 views

How do I see how much savings I will have at the end of the budget period with GnuCash?

I have set up a budget in GnuCash for a one year period, and I started out with some money in each of my accounts. How do I find out how much money I will be left with at the end of the budget period? ...
3
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2answers
4k views

Using 25% of income for rent - gross or net?

I always hear the advice that your rent should not be more than 25-30% of your income and I like that advice. But I've never been able to get a clear answer on whether this should be on your gross or ...
36
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12answers
8k views

How to do the maths on affordability?

I have a bad or no idea on how to budget. We are moving but I don't know If I can afford the rent as the family grows and I need my own study. How can a person measure how much to spend on food, car, ...
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2answers
208 views

How to estimate income tax rate for making a budget?

I am currently applying for jobs in a variety of U.S. cities, and I'm trying to estimate what my net monthly salary will be based on different gross yearly salaries. I have a draft budget in a ...
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1answer
2k views

Want to buy a car but have not enough money [closed]

I'm still at a very early stage of my professional career and my salary is still very low. I work in the IT field. I have a dream of buying my own car. The current price of my desired car is 200 times ...
1
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2answers
234 views

How to manage household finances (income & expenses) [duplicate]

We are a young family of two, both working and having comparatively equal income. The question is how do we budget our common expenses (relatively equally) and at the same time preserve our freedom to ...
2
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1answer
10k views

How to categorize credit card payments?

On mint.com, when I am reviewing my spending reports, my automated credit card payments (set to pay the whole balance) are showing as "Business Services". Since I already have all of the transactions ...
2
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1answer
858 views

YNAB: periodic payments to investment account for retirement?

TL;DR In YNAB monthly budget I want a category for my investment account and am looking for suggestions how to cleanly achieve this. I am trying to achieve the following: Use You Need A Budget to ...
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2answers
136 views

Personal finance web service with account syncing in Germany

I haven't found a single site for personal finance management that does bank syncing in Germany. Some that for example do Barclays, restrict to US or UK accounts. Is there any law in Germany ...
92
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9answers
19k views

Do people tend to spend less when using cash than credit cards?

I know this is a popular theory on this site and finance blogs/media in general, but I'd like to know if there is any reliable research on the subject. I can share personal experience that makes me ...
2
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0answers
288 views

Gnucash budget report not adding subaccounts

I have problems budgetting for accounts that contain subaccounts. Gnucash does not seem to want to add the actual values in the subaccount, to get the correct value for the parentaccount, but in stead ...
44
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4answers
8k views

Is keeping track of your money and having a budget the same thing?

I check my bank account every single day, just out of habit in case there's fraudulent activity. As a result, I always know generally how much I have in my accounts (i.e. if I have $140.25, I'll make ...
4
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3answers
1k views

How to calculate money needed for bills, by day

I'm trying to figure out how to budget my money so I can look to see how much money I need on that particular day for bills. I've had an excel sheet I've used for a while that has all my bills listed ...

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