How to get my personal budget on track?
December 31, 2009 10:07 AM Subscribe
How do I manage my daily living expenses better?
posted by stormpooper to Work & Money (17 answers total) 29 users marked this as a favorite
Right now, I split my checks into a living expense and a savings account via direct deposit. Unfortuantely after our son was born, my husband takes care of the childcare while I take care of utilities, groceries, mortgage, my bills, etc in full, on my own and it's kiling me.
I have some of my bills come out via autodraft but things like groceries, some other bills, and the mortgage, that is done by crafty wheeling and dealing until it gets so low I have to pull into savings and lately it's been coming close to the wire where I can barely pay the bills.
In short, my financial life is a mess. I noticed that my old bank--LaSalle would take out of my checking sooner than my new Bank of America, where lately my pendings look like I'll be ok then when they go through, I wind up with little money (an issue of balancing my budget).
I was thinking that maybe it's just better to take out $800 a paycheck and put it into another bank/checking account strictly for the mortgage and leave every other bill with Bank of America checking/savings and see where it goes. This way I 100% guarantee the mortgage money is taken care of.
Mortgage is $1,630 a month while utilities, credit cards, and groceries are $1,235 a month. This doesn't mention little things like gas, etc.
I have had personal budget, zero budget, etc. made for me by friends, used Mint.com, etc and it just doesn't work out. I don't know if I'm just assuming too much and ATMing too much when in reality the pending and finally going through amounts are screwing everything up?
How can I get my personal life on track better? Do everything autodraft, ditch the ATM card and go cash, have multiple checking/bank accounts take care of certain bills and leave one for ultimate savings? Nothing is working so far and I want 2010 to be the year where my budget/expenses go smooth as pie without a worry.