Making a household budget.

[Urban Ranger]

Originally posted by SlowwHand
First thing, pay yourself. Put a minimum of 5% into savings.

I say a minimum of 20% into savings.

Then when other people still needs to work their butt off to keep afloat, you can retire financially.

[Provost Harrison]

Originally posted by Urban Ranger


I say a minimum of 20% into savings.

Then when other people still needs to work their butt off to keep afloat, you can retire financially.

Well he's already retired mentally

[Colonâ„¢]

Originally posted by Urban Ranger


I say a minimum of 20% into savings.

Then when other people still needs to work their butt off to keep afloat, you can retire financially.

Sloww is American you know.

[Provost Harrison]

Originally posted by Urban Ranger


I say a minimum of 20% into savings.

Then when other people still needs to work their butt off to keep afloat, you can retire financially.

Sometimes I worry about your level of attachment to humanity

[JohnT]

Originally posted by reds4ever
The average household outgoings are probably around 10 different bills. Why would you need a spreadsheet to add up 10 figures?

Our budget has about 50 categories, from insurance to debt payments to food to Sophie's karate lessons to savings to whatever. If you have only 10 "vendors" in your life to whom you make regular payments, you have a very low-key lifestyle!

[Arrian]

Or he just doesn't have kids.

I've never budgetted... income has always exceeded expenditure - I'm cautious and have a deep and abiding hatred of debt. My wife cares more about keeping track of stuff (like, omg, she balances her checkbook and stuff ), which is good. Right now our finances are relatively simple, since it's just us and our dog. If we decide to have kids... that's another ballgame.

-Arrian

[Capt Dizle]

Its been my experience that if you have a woman in your life then budgeting is a total waste of time.

Anything you manage to save she will have a use for, yesterday.

[Arrian]

You've just been unlucky, then Capt. My wife is just as debt-adverse and fiscally conservative as I am, plus she actually keeps track of stuff.

-Arrian

and yeah, she also brings home a hefty amount of bacon

[Flubber]

Originally posted by Capt Dizle
Its been my experience that if you have a woman in your life then budgeting is a total waste of time.

Anything you manage to save she will have a use for, yesterday.

I don't agree with your base premise but assuming it for the sake of discussion, a thrifty person with a "spender" is a situation that calls out for the three pools form of money management. As long as each of you contribute to the common expenses, you can each do as you please with your "own" money.

[Arrian]

I have a friend at the office who is the only reason her husband isn't bankrupt. She took control of their finances and may, in time, repair his credit rating.

-Arrian

[Flubber]

Originally posted by Arrian
I have a friend at the office who is the only reason her husband isn't bankrupt. She took control of their finances and may, in time, repair his credit rating.

-Arrian

That story is an argument in favor of separate finances. For instance, my wife and I each have our own separate credit cards and credit lines. There is no way she can do anything to rack up additional debt for which I would be responsible or vice-versa.

Thankfully, we are both financially responsible. But she got burned on a previous relationship .


Its good that friend could fix things, but if she couldn't separate finances would be the only way to try to protect herself

[Dinner]

Originally posted by JohnT

Our budget has about 50 categories, from insurance to debt payments to food to Sophie's karate lessons to savings to whatever. If you have only 10 "vendors" in your life to whom you make regular payments, you have a very low-key lifestyle!

Mine has 18 catagories. I'm going to have to monitor it closely for the next month or two in order to make sure my estimates are realistic. In order to reach certain goals (like paying off my credit card) I cut in several areas and I'm not sure I can realistically live with those cuts for an extended period of time.

[Dinner]

Originally posted by Flubber

I don't agree with your base premise but assuming it for the sake of discussion, a thrifty person with a "spender" is a situation that calls out for the three pools form of money management. As long as each of you contribute to the common expenses, you can each do as you please with your "own" money.

I think this is how I would solve the problem is I was married to a spender.