Thought I'd share my main money-management tactic: I keep an unsent e-mail in my draft folder of my Yahoo account, and check my checking account online daily. I list my current balance, list all the income and debits I expect for the month (in half-month groups), and see whether I'm ahead or behind.
NT's income is irregular as he's a temp, so his money is surprise bonus money, and we use some for spending, some for paying down debt. AS and I have regular paychecks twice a month.
It's a nice system because I go in daily and change the balance, then delete items that have come through, or add items for upcoming income or debits that I've just found out about. I have a general budget document that I keep as well, but this one gives me a more specific idea of where we are, because it factors in the unpredictable stuff.
Here's a sample of what my "number crunch" looks like right now:
Balance 6/22: $1589.86
Pending check card auth: 108.21
(SIMONDELIVERS.COM INC $99.23
AMAZON.COM $8.98)
Available balance = $1481.65
June 16-30 upcoming debits:
$60 spending money
$20 for farmers market
$19 for Nat'l Geographic
$450 for Wii plus accessories
28th: Comcast $45.95
American Express $372
16th-30th: Groceries $161.03
keep $350 for next month
= $1477.98
$3.67 LEFT OVER
July 1-15 upcoming income:
$6 Agent blue refund
6/29 CJ paycheck $1362.32
7/1 parking rental $75
7/5 AS paycheck $938.32
Add back in $350 from last month
= $2731.64 + 3.67 = $2735.31
July 1-15 upcoming debits:
1st: Citimortgage $1356.97
2nd: Firstmark $71
4th: NT Bus Pass $76
5th: Association dues $520.97
6th: Reserve Line $89
9th: Netflix $10.70
14th: Barber (for all 3 of us) $60
1st-15th: Groceries $440
Gift for friends' wedding: $100
= $2724.64
$10.67 LEFT OVER
July 16-31 upcoming income:
7/16 CJ paycheck $1362.32
7/19 AS paycheck $938.32
= 2300.78 + 10.67 = 2311.45
July 16-31 upcoming debits:
15th: T-Mobile $95
Bremer $95
16th: Capital One $564
21st: Rental car for friends wedding: $190
24th: Barber $60
28th: Comcast $46
American Express $366
misc household $100
16th-31st: Groceries $440
keep $350 for next month
= $2306
$5.45 LEFT OVER
Looks like we're cutting it kind of close, I know, but NT gets some kind of money every Friday that's not factored in until we get it. Today's was just enough to break us even for the next month, but next Friday's will be a lot bigger because he worked full-time this week. But we don't know how much, so I haven't put it on.
CJ
Number Crunch
June 22nd, 2007 at 11:16 pm
June 23rd, 2007 at 02:54 am 1182563650
Good luck
June 23rd, 2007 at 08:08 pm 1182625730
The Wii is an out-and-out splurge, but it's a one-time purchase. I'm making it clear we have to be happy with the games we can get for this sum. It's also useful because we'll be able to hang out with friends cheaply, at our house, instead of expensive outings.
We don't eat out at all, but we do cook some gourmet meals (interspersed with spaghetti and other sensible meals). We're new at this, so we may cut back further if the debt just isn't going away fast enough.
Thanks for your comments! You don't sound rude; I read a lot of this site before I joined, so I knew I'd be getting frank and earnest opinions. :-)
CJ
June 24th, 2007 at 01:53 pm 1182689610