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Old 11-20-2013, 08:24 PM   #21
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Quote:
Originally Posted by NikiG
We rent, so if something breaks down, our landlord covers it. As far as debt repayment goes, I am scared to put too much on the debt in case we run out of money at some point, so I'd rather wait until next time hubby pays himself (in a year) and see what's left over from this year. I can deduct the interest I pay on my student loans off our taxes as well, so while it's not ideal, I'd feel safer waiting. My next step is to become a cash family. I tied once, but failed. I used paper envelopes and we have lots of coins in our currency and it got real sloppy, really fast. I need a better system and fast, I'm starting on Monday!
I can totally see how coin currencies can e difficult for the envelope method! A lot easier when you have $1 bills vs $1 & $5 coins. Could you use zippered pouches?

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Old 11-23-2013, 09:28 PM   #22
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Re: Budgeting Help

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Originally Posted by NikiG View Post
Not quite emergency fund is for things I may have forgotten to budget at the start of our fiscal year. If I forget about certain fees or dues, there is extra money there for when I make the month by month budget.
What I would do is write everything you spend money on and how much throughout the year. So then it is likely you won't forget something in future years. I would account for a 2% increase on everything so then likely you will be covered. I would still keep the $1k emergency maybe even bump it up to $2k. I would budget for car repairs and oil changes, tires, etc.

Quote:
Originally Posted by NikiG View Post
We rent, so if something breaks down, our landlord covers it.

As far as debt repayment goes, I am scared to put too much on the debt in case we run out of money at some point, so I'd rather wait until next time hubby pays himself (in a year) and see what's left over from this year. I can deduct the interest I pay on my student loans off our taxes as well, so while it's not ideal, I'd feel safer waiting.

My next step is to become a cash family. I tied once, but failed. I used paper envelopes and we have lots of coins in our currency and it got real sloppy, really fast. I need a better system and fast, I'm starting on Monday!

I understand your concerns! I would to the above this year and next year plan to do more. I know for me I would spend more then I should if it was there. Like say DD is in school and comes home with something for fundraising I would spend more if it wasn't budgeted for.

I don't do cash so can't advise there. I keep a tally of what I spend where and know what I have left in that category though. Coins I put aside when I do spend cash. Quarters are laundry money, rest is savings.

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