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stackbacks budget

stackbacks budget

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Published by ColectivoSolitario

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Published by: ColectivoSolitario on Apr 25, 2008
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06/16/2009

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www.stackbacks.comPage 1 of 10
 
StackBacks Automated Budget System
www.stackbacks.com
 
www.stackbacks.comPage 2 of 10
 
Premise
This budget system is based on a simple idea…You shouldn’t have to think about your budget. Figure yourbudget out once, not constantly. I want to pay my bills on time,reach my financial goals, and have money I can spend withoutworrying about it.
 Budgets I’ve Tried
I’ve tried a lot of different ways to budget my money. I’ve used aledger and I’ve used software (Microsoft Money and Quicken). I’vetracked my expense down to granular levels like movie rentals andmagazines and I’ve spent carelessly. I’ve used cash, I’ve used debitcards, and I’ve used credit cards. None of it worked.I get lazy and I don’t update the software or the ledger. If I have abudget, I don’t stick to it, and if I don’t have a budget, then I feelguilty about not meeting non-existent goals.So after some thought and experimentation I’ve come up with abudgeting system that meets my lifestyle. It’s simple. Anyone can doit.
 
www.stackbacks.comPage 3 of 10
 
Two Types of Expenses
There are 2 types of expenses, those that are planned and those thatare not planned. Unplanned expenses are all lumped into a categorycalled living.Living expenses are what you would use an allowance on, if you stillgot one. The money you spend here is all variable, and dependent onthe others. If you spend $300 on dining out, chances are you don’tneed to buy any groceries. Sometimes you’ll spend $20 on movies,other times you’ll spend $20 on drinks. You’ll get your haircut oneweek, the next you’ll buy clothes. I think it’s useless to budgetspecifically in these categories, it’s better to lump them all into one.Planned expenses are items you can easily budget. These are itemsthat can be scheduled and/or are about the same amount. Your carpayment is usually something that is the same every month, easilybudgeted. Your utilities may vary from month to month, but you canestimate about how much they’ll be, and you know when they are due.These are either date specified or monetarily specified.
 Telling the Difference Between the Two
Here is an easy way to tell the difference. Ask yourself… “Is this something I’ve agreed to pay, or is this something Ispend whenever I want?”  “Would I still need to spend this money if I was on vacation?
 Examples of Two Different Expenses
Living PlannedGasGroceriesDining outHaircutsDrinksClothesEventsImpulse buysMoviesBooksRentCar PaymentCell Phone BillAuto InsuranceStudent LoansUtilitiesBudgeted ItemsSavingsInvestmentsDebt Reduction

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