Budgetting - tight or lose
- Breakinger
- Offline
- Junior Member
- Posts: 217
Replied by Breakinger on topic Budgetting - tight or lose
I have always had a budget and it's always been a tight one. I want to make sure that all of the important stuff is paid for and whatever is left gets saved. I'm too am amazed at how many people don't budget their money. They really don't know what they are missing out on.
8 years 7 months ago
#16
- FrugalFran
- Offline
- Finance Leader
- Posts: 364
Replied by FrugalFran on topic Budgetting - tight or lose
I've done both, but I am currently about to transition from a loose budget to a tight one. I have a certain amount of money I want to save this year and I'm going to have to cut out some of the frivolous stuff to make it happen.
8 years 7 months ago
#17
- patse
- Topic Author
- Offline
- Junior Member
- Posts: 141
Replied by patse on topic Budgetting - tight or lose
This is spot on. Tight for when you have to be and loosen it up for extra savings. I am just really glad to see that other people think the same. Budgets help you save money.
8 years 11 months ago
#18
- FrankN
- Offline
- Blogger & Researcher
- Posts: 1208
Replied by FrankN on topic Budgetting - tight or lose
I would agree with your approach, and I think that is the right philosophy.
8 years 11 months ago
#19
- Curry
- Offline
- Junior Member
- Posts: 75
Replied by Curry on topic Budgetting - tight or lose
I have a tight budget when I need to and a loose budget when I can. I tend to loosen up the wallet during this time of the year. I believe that being frugal should take priority over being a spendthrift.
8 years 11 months ago
#20
- FrankN
- Offline
- Blogger & Researcher
- Posts: 1208
Replied by FrankN on topic Budgetting - tight or lose
I believe it is good to experience both a tight and a loose budget. Depending on your circumstances and time in life, you will need both, and will know how you react to both. The tighter budget will help you stay in check, but there are certain situations that you cannot control, and you need to be able to have a more loose budget to be able to plan for the unknown.
8 years 11 months ago
#21
- jordane
- Offline
- New Member
- Posts: 10
Replied by jordane on topic Budgetting - tight or lose
I budget but I don't stick to it all the time. I guess you could say my style of budget is loose. I need to tighten it up a bit. I would like to save more money in 2016 so I need to stick to my budget. I think I'll even pull part of my paycheck out and put it into a different account - and not touch them money.
8 years 11 months ago
#22
- patse
- Topic Author
- Offline
- Junior Member
- Posts: 141
Replied by patse on topic Budgetting - tight or lose
It sounds like I'm not the only one that thinks that it is important. I try to explain to people why it is so important. I notice when I don't write down what I've spent, I tend to blow a lot of money. I'm an accountant so I'm great at numbers. Even so, without my budget I would be lost.
8 years 11 months ago
#23
- FrankN
- Offline
- Blogger & Researcher
- Posts: 1208
Replied by FrankN on topic Budgetting - tight or lose
I couldn’t agree more to this thread and I love hearing it! Budgeting is not at all for poor people, it’s for smart people! You work hard for your money, and you should organize your finances so you get to keep as much as possible. I use excel, but I also use Mint.com to view my transactions online. There are many providers online that have very easy and free tools for budgeting.
8 years 11 months ago
#24
- Finance Globe
- Offline
- Administrator
- Posts: 572
Replied by Finance Globe on topic Budgetting - tight or lose
Hi DJames, you are absolutely correct. IMHO. discipline is on of the marks of a person's character, and will push or pull you away towards a successful life. You could be a millionaire, but imagine if you didn't budget. This money would probably be spent and wasted away pretty fast.
8 years 11 months ago
#25
- djames
- Offline
- Junior Member
- Posts: 28
Replied by djames on topic Budgetting - tight or lose
I have always used a budget as a tool for managing my finances. I know so many who think a budget is only for 'poor' people or people who are in debt but they're so wrong. The budget is the tool that keeps you in control so that you can save and invest, rather than just letting your money slip through your fingers. Sometimes that budget has been fairly loose, while other times it's been tight, but it's always done the job.
8 years 11 months ago
#26
- Wanderer
- Offline
- Moderator
- Posts: 1265
Replied by Wanderer on topic Budgetting - tight or lose
In my case I use an MS Excel Worksheet and plug in all the fixed costs (tight) as I know they have to be paid such as house payment, auto loan, natural gas, electric, city utilities, cable, medical premiums, life/dental/drugs insurance premiums, subscriptions, telephone and any other items that recur. Then (loose) on recreation, miscellaneous, investments, savings and so on as I can adjust these depending on what's happening in my world and oh yeah "life's stuff".
- patse
- Topic Author
- Offline
- Junior Member
- Posts: 141
Budgetting - tight or lose was created by patse
I love talking to people about their personal budget. I cannot believe how many people don't budget. I think that I would budget my finances no matter how much money I made. When you make a budget, is it a tight or lose budget? Do you stick with it or do you build in some wiggle room?
I've been pretty fortunate to stick to my budget and by doing so I have a nice savings account.
I've been pretty fortunate to stick to my budget and by doing so I have a nice savings account.
8 years 11 months ago
#28