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Forum -> Household Management -> Finances
How do I start making a budget?



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amother
OP


 

Post Tue, Jun 18 2024, 3:35 am
I’m embarrassed. I’m 40 and have never made a budget. Bh we’ve been making it until now we’ve been paying bills buying what we need etc.. now it’s becoming more of a struggle and we need to make a solid budget. Where do we start? Any good resources? Books? Spreadsheets? And how do you motivate yourself to keep to the budget?
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amother
Birch


 

Post Tue, Jun 18 2024, 3:44 am
You can reach out to Living Smarter Jewish and they’ll set you up with a financial coach / budget free of charge
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anothermother6




 
 
    
 

Post Tue, Jun 18 2024, 3:48 am
This is another good free resource
https://frum.finance/start/
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GetReal




 
 
    
 

Post Tue, Jun 18 2024, 4:36 am
For a month write down everything that you/DH spend, and all income that comes in. Then sit down and make a list of fixed costs (mortgage, car payments etc) and variable costs. See how that compares to your income and if you need to cut certain areas.
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amother
Lemonchiffon


 

Post Tue, Jun 18 2024, 6:58 am
https://www.ramseysolutions.co.....ollar

Using this for years and love it. My husband and I sit down before the month begins to set up the new budget, and then weekly to put in the expenses and track.
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Bleemee




 
 
    
 

Post Tue, Jun 18 2024, 7:01 am
First step is to track for a month or two.
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amother
Hibiscus


 

Post Tue, Jun 18 2024, 7:10 am
Try using cash only.
Start slow 3 days, 1week, 10days, etc adding 3 -4 days.
Don’t wait until the day you could use the credit card to make the purchase
If you can’t afford it with cash then you can’t afford it.

2x a week make a cheap meal
rice w lentils with a sunny side egg - (yogurt if it’s cheap in your area)

Repurpose all leftovers
Leftover veggies get blended into soup
Leftover chicken gets shredded for tacos or salad
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amother
Pansy


 

Post Tue, Jun 18 2024, 7:12 am
We actually have a meeting with The Key from RSK coming up. Mostly to calm me down. b"h my husband is making alot of money but he also spends alot and we have different views on that. I grew up in a large family, we had a period of time that things were tight. B"h My parents are very comfortable now, but I see from when I was young and whats going on around me and I'm paranoid down the line that things will go bad CH"V.
Were married 9 months but I want to "nip it in the bud" and have some sort of budget to calm me down.
They'll help us create a budget and how to save for things for the future.
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Bethany85




 
 
    
 

Post Tue, Jun 18 2024, 7:14 am
I’m I big YNAB user. I use the old desktop version, don’t know much about the newer subscription based web one, but I assume it’s also good.
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amother
OP


 

Post Tue, Jun 18 2024, 7:22 am
Thank you! I will start with writing down every penny I spend for a month. Then I guess I’ll be reaching out to a financial expert to help us make the most of our money. I’m actually nervous that we’ll be told we need to be making more. The older the kids the more expensive..
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lamplighter




 
 
    
 

Post Tue, Jun 18 2024, 7:28 am
amother OP wrote:
Thank you! I will start with writing down every penny I spend for a month. Then I guess I’ll be reaching out to a financial expert to help us make the most of our money. I’m actually nervous that we’ll be told we need to be making more. The older the kids the more expensive..


After you write down everything you spend for a month, categorize your spending. Those categories make up your budget. Then look at your list and see if there are categories that you are overspending or if you need to cut out any category to cover your budget with your income.
A financial expert will help you with long term plans and saving.
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amother
Rainbow


 

Post Tue, Jun 18 2024, 2:33 pm
Another vote for YNAB. Link your cards and accounts so all those transactions come in automatically. Spend 1 or 2 months customizing your categories and categorizing transactions daily. Then you'll feel more comfortable making full use of the app's preassigning money to categories system.
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