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October 15, 2012


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Do we follow a budget? No. I track every expense on Quicken and try to spend less than we earn on a monthly basis. If we are high on one thing, we compensate by cutting back on others. We have a "Rainy Day Fund" for exceptionally high expenses (new roof on house, new(er) motorhome, car etc).

Booze/grocery thing? Yes, in the USA and Mexico where we buy booze in grocery stores it sometimes gets mixed in although I try to remember to do a "Split" entry. We (I) buy little booze in Canada where it costs several times more but make up for it in the winters.

We are not anal about monitoring expenses but I do try to maneuver things so that our net worth is always at least a bit higher on Dec 31 than it was on Jan 1. That makes me happy!

I'm with Croft on budget stuff. His approach is most similar to ours.

I think the main reason I put together a physical budget is cause I like to see things in black and white. We also move $$$ from category to category if need be, but we've had the same budget for the past few years and it seems to work out roughly the same each year.
I wish more folks would keep track of their expenses - especially after hearing the national household debt to disposable income ratio is now 163.4 in Canada - the highest it's ever been.
Pretty damn scary.

Hi Kelsi !!

Glad to see someone else is a major bean counter like us ... ha ha

Teresa and I have kept track of all our expenses for the last 30 years !

And yes, we make a budget each year.

I know budgets don't work for everyone, but they sure made a difference in our financial life.

And no, we do not sneak booze into our grocery budget ... It clearly belongs in our Healthcare expenses ... LOL

Take care ... TnT

We keep track of every penny we spend and every month we sort it out and group it into categories. That way we can see exactly where our money is going. It can be a real eye opener.

It is interesting that every category at the end of the year is almost exactly the same as past years except for increases due to inflation.

TnT - hey guys, great to hear from you. Are you getting geared up for another snowbird winter? SoCal or Arizona?

Mr P - My Fella and I manage money the same way as you and Mrs P. It took me a few years but I finally figured out that once you break down your spending habits, it's easy to put together a budget.
And we're still in accumulation mode so we try spend only a third of our income and save the rest for investments / retirement.

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