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Do you budget? What tools do you use?

Home ▸ Archive ▸ Serious Business ▸ Do you budget? What tools do you use?
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Oct 19, 2010 3:06 PM
I recently started using Mint.com to track my accounts and haphazardly budget my money. Mint is pretty good but when I was doing the Dave Ramsey kick before I was married i used 1 of thousands of spreadsheets found online. Well now the wife and I have decided to go back to Ramsey's methods and pay off the 2 debts we have left ASAP. Before I went online to search the places I used before (jimnkim.com was one i think) I was wondering what folks on the OC used. feel free to put a screenshot or an attachment in here if you want to share an example.
Oct 19, 2010 3:06pm
hangonsloopy's avatar

hangonsloopy

Senior Member

1,291 posts
Oct 19, 2010 3:31 PM
Dave ramsey all the way. I disagree with some of what he says but for the most part it works well. We use the 3-page budget he has online.
Oct 19, 2010 3:31pm
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Oct 19, 2010 3:51 PM
hangonsloopy;525162 wrote:Dave ramsey all the way. I disagree with some of what he says but for the most part it works well. We use the 3-page budget he has online.

does this cost money?

most of his shit does. which is an issue i have with his philosophy. "don't spend money on anything frivolous!! be sure to go out and get my new book 'Jesus, I can't believe you lemmings are paying me for common sense!'"

he kind of speaks out of both sides of his mouth.

and for the record the 1 ramsey book i have was a graduation gift.
Oct 19, 2010 3:51pm
S

Sonofanump

Oct 19, 2010 4:20 PM
What could be so difficult about budgeting your money? If you have debt, pay off the highest interest first above the minimum owed (credit card first). It is a simple cost of money factor.
Oct 19, 2010 4:20pm
hangonsloopy's avatar

hangonsloopy

Senior Member

1,291 posts
Oct 19, 2010 4:22 PM
j_crazy;525180 wrote:does this cost money?

most of his shit does. which is an issue i have with his philosophy. "don't spend money on anything frivolous!! be sure to go out and get my new book 'Jesus, I can't believe you lemmings are paying me for common sense!'"

he kind of speaks out of both sides of his mouth.

and for the record the 1 ramsey book i have was a graduation gift.

At first I thought that too, but at the same time he's making a living doing this. It costs money to do everything he does. Plus I share his core beliefs and I think he is sincere in what he says and is really trying to guide people. And to answer your question, yes it's free. Here is the link: http://a248.e.akamai.net/f/1611/26335/9h/dramsey.download.akamai.com/23572/daveramsey.com/media/pdf/forms/fpu_monthly_cash_flow_plan_forms.pdf
Oct 19, 2010 4:22pm
-Society-'s avatar

-Society-

Senior Member

1,348 posts
Oct 19, 2010 4:28 PM
I use common sense.
Oct 19, 2010 4:28pm
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Oct 19, 2010 4:48 PM
-Society-;525212 wrote:I use common sense.

so did i, that's why i graduated college with minimal Student loan debt and no other debt. ramsey's system was a good way to plan my debt reduction and by the time i bought my first house i only had a small car note and only 2 student loans left. it's been 2 years since we bought that house and we have 0 student loans and another small car note, plus the house.

just by my back of the cuff estimates, i could be debt free on the house in 4 years. 29, with 0 debt, and a $150k + job is better than anything i could have ever wanted to be. I'm gonna push hard to get there.
Oct 19, 2010 4:48pm
Thread Bomber's avatar

Thread Bomber

Message Board Terrorist

1,851 posts
Oct 19, 2010 5:15 PM
I only work a couple of times a year but I spend pretty much whatI want.

As far as tools go I opt for a 44 magnum or 9mm Glock. Other tools include a ski mask, or if I'm feeling festive a St. Ronald Reagan mask......
Oct 19, 2010 5:15pm
FatHobbit's avatar

FatHobbit

Senior Member

8,651 posts
Oct 19, 2010 5:17 PM
Thread Bomber;525264 wrote:if I'm feeling festive a St. Ronald Reagan mask......

Nixon would be a much better choice IMHO.
Oct 19, 2010 5:17pm
Thread Bomber's avatar

Thread Bomber

Message Board Terrorist

1,851 posts
Oct 19, 2010 5:22 PM
FatHobbit;525266 wrote:Nixon would be a much better choice IMHO.
I would go for an Obama mask, but am afraid it would draw too much fire.....
Oct 19, 2010 5:22pm
Glory Days's avatar

Glory Days

Senior Member

7,809 posts
Oct 19, 2010 7:21 PM
I use Quicken 2002 to track my money, but dont really budget on it. it was already installed on my computer.
Oct 19, 2010 7:21pm
sleeper's avatar

sleeper

Legend

27,879 posts
Oct 19, 2010 8:51 PM
Excel. Keep it as simple as possible.
Oct 19, 2010 8:51pm
gerb131's avatar

gerb131

Senior Member

9,932 posts
Oct 19, 2010 8:53 PM
Money aint a thang
Oct 19, 2010 8:53pm
believer's avatar

believer

Senior Member

8,153 posts
Oct 20, 2010 4:53 AM
sleeper;525503 wrote:Excel. Keep it as simple as possible.

This. But why use Excel when OpenOffice is free? :p
Oct 20, 2010 4:53am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Oct 20, 2010 6:28 AM
Quicken, and use my brain to budget.
Oct 20, 2010 6:28am
C

Con_Alma

Senior Member

12,198 posts
Oct 20, 2010 6:54 AM
I used to but not any more.

Never used a "tool" to do so.
Oct 20, 2010 6:54am
McFly1955's avatar

McFly1955

Senior Member

1,441 posts
Oct 20, 2010 9:27 AM
Yes, I've budgeted since College (I'm 24 now, out of college at 22), and just use Excel.
Oct 20, 2010 9:27am
J

jmog

Senior Member

6,567 posts
Oct 20, 2010 10:43 AM
Sonofanump;525201 wrote:What could be so difficult about budgeting your money? If you have debt, pay off the highest interest first above the minimum owed (credit card first). It is a simple cost of money factor.
Actually paying off the highest interest, while that seems like the best idea, is not always the best way to go.

The "debt snowball" typically works better if you pay off your smaller debts first and work to the biggest ones, regardless of interest rates.
Oct 20, 2010 10:43am
Cat Food Flambe''s avatar

Cat Food Flambe'

Senior Member

1,230 posts
Oct 20, 2010 2:07 PM
jmog;525872 wrote:Actually paying off the highest interest, while that seems like the best idea, is not always the best way to go.

The "debt snowball" typically works better if you pay off your smaller debts first and work to the biggest ones, regardless of interest rates.

jmog - I lead a couple of FPU classes a year. Generally, you're right on - if you extend out the total interest paid out via "snowballing" , the total amount paid out over the medium- and long run is quite a bit less. Just as important - seeing debts drop off on a regular basis is also a powerful reinforcement for most people.

One exception - if you have a really stupid interest rate on a loan, you have to do the math and make your decision accordingly (sorry, Dave!). My mother-in-law inherited a car loan when my FIL passed away - it was one of those "We'll pay off your trade in!" deals with a big loan assumption on the other vehicle. As usual, the FIL screwed it up, and now has what amounts to a 34% interest rate with penalties and late fees. Her car payment is $724 a month on a $21,000 car - with 31 months to go. I'll let the 9% Best Buy payment (for the Hi-Def TV he bought( ride for a little while until I figure out how to get her out from under that mess.
Oct 20, 2010 2:07pm
hoops23's avatar

hoops23

Senior Member

15,696 posts
Oct 20, 2010 6:40 PM
My brain.
Oct 20, 2010 6:40pm