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Got Budget?
By Galia Gichon on Monday January 25, 2010Weekends are hard on the ol' budget—especially if you don't have one. To get your spending and saving in synch, try this stress-free method, created by Galia Gichon, financial planner and author of the "My Money Matters" kit.
To make things even simpler, we took Galia's Spending Smarter Plan and turned it into a Google Template. Access it by clicking here (you'll need a Google account if you don't have one), and click the "Use this template" button in the top left to begin adding your own numbers. Just highlight the sample numbers, and write-in your own as-accurate-as-possible amounts.
The Spending Smarter Plan is courtesy of DailyWorth regular contributor Galia Gichon, MBA, a financial planner in New York and author of the "My Money Matters Kit," and founder of Down-to-Earth Finance. Check out her classes and podcasts!
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written by Kate P , January 25, 2010
written by Kate P , January 25, 2010
I want you to tell me how to make it on my husband's disability and my unemployment, $1,000 and $1,200, with a rent of $1,100 and utilities of about $600 a month. No car payment, but insurance of $158 per month, cell phone bill of $80 per month....and credit card bills of $100 per month. And still have anything left over to buy food, gas, etc. Talk to me about an income that's more in keeping with where a lot of people are right now.
Kate
Kate
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written by kateh , January 25, 2010
written by kateh , January 25, 2010
Two items:
1. I love to see the actual spreadsheet for other people's budgets. I know some people are 60% solution type's but I need to know where everything is going or else I "cheat." I do a budget similar to this, but then have a detail spreadsheet connected that shows all of my expenses in each category (and I seperate out my discretionary money into categories). Great piece!
2. Kate P. - I think it is helpful for others who want help budgeting to see a break out. I suppose she could do the same with percentages, but it helps to have numbers to look at. I would recommend applying the budget above in percentages to your income. Since you are renting, perhaps your lease is up in the near future and you can find a more affordable apt/house? This seems to be eating an unsustainable amount of your budget. Just a suggestion.
1. I love to see the actual spreadsheet for other people's budgets. I know some people are 60% solution type's but I need to know where everything is going or else I "cheat." I do a budget similar to this, but then have a detail spreadsheet connected that shows all of my expenses in each category (and I seperate out my discretionary money into categories). Great piece!
2. Kate P. - I think it is helpful for others who want help budgeting to see a break out. I suppose she could do the same with percentages, but it helps to have numbers to look at. I would recommend applying the budget above in percentages to your income. Since you are renting, perhaps your lease is up in the near future and you can find a more affordable apt/house? This seems to be eating an unsustainable amount of your budget. Just a suggestion.
...
written by Annie G , January 25, 2010
written by Annie G , January 25, 2010
Kate -
Your situation is certainly tough, and I agree is true for many people. Some steps you can take:
Your utility costs are quite high. Can you get rid of anything, or make due with less (lower heat, no cable/internet, etc.)? Our utilities run $550 a month, including our cell phones and luxuries like cable.
What about the rent? Any chance you can move somewhere cheaper, perhaps live with family or friends for a while? Or maybe get someone to move in with you to share costs? I know our neighborhood has recently exploded with families sharing homes, so it is certainly a trend during hard times.
If you aren't under contract, you could cancel the cell phone (or, depending on your state, you may have that option even with a contract).
Have you checked if you are eligible for any other state assistance, like food stamps? If not, many charities help out families with food ... check around in your area.
And, of course, you can try to make some extra money while you look for a job, but be sure it won't affect your unemployment check.
Good luck!
Your situation is certainly tough, and I agree is true for many people. Some steps you can take:
Your utility costs are quite high. Can you get rid of anything, or make due with less (lower heat, no cable/internet, etc.)? Our utilities run $550 a month, including our cell phones and luxuries like cable.
What about the rent? Any chance you can move somewhere cheaper, perhaps live with family or friends for a while? Or maybe get someone to move in with you to share costs? I know our neighborhood has recently exploded with families sharing homes, so it is certainly a trend during hard times.
If you aren't under contract, you could cancel the cell phone (or, depending on your state, you may have that option even with a contract).
Have you checked if you are eligible for any other state assistance, like food stamps? If not, many charities help out families with food ... check around in your area.
And, of course, you can try to make some extra money while you look for a job, but be sure it won't affect your unemployment check.
Good luck!
...
written by leon F , March 03, 2010
written by leon F , March 03, 2010
The budget kit is well detailed. However, I think that the fixed expenses are very high, includibg the utilities, transportation expenses. Is this example for a single person or a family?
Leon Fangnigbe
www.TaxMamba.com | www.MLFSolutions.com
Leon Fangnigbe
www.TaxMamba.com | www.MLFSolutions.com
