Family Budgeting

I always thought I was good at budgeting until I actually did it,  I’ve tried to start one several times but we don’t spend very much or buy anything big so we do okay. No need to worry about it if you don’t buy anything big. My husband takes care of the bills, doctor stuff, car stuff, dates, and family outings; so I just need to worry about groceries, me, clothing, and the girls stuff. This has been my first year as a stay at home mom and we don’t have as much money as usual, but in the last month I’ve tried something different that seems to be working well. On Fridays, my husband gives me weekly money and that’s all I get to spend for the week. It took us a few weeks to figure out what a good amount would be. It’s enough that I can save a little if I’m tight but I have enough for food, lessons, and gas every week. There’s usually a little extra for something for the girls or clothes or if I’m needing to splurge on myself a little. This week I had to buy ballet costumes which were expensive, so we ate more food out of the pantry and freezer than usual. I like this method because I’m not very organized with envelopes and the only thing I have to keep track of is how much money is left in my wallet, sometimes I run out and then I can’t buy anything until Friday comes around again.  I haven’t been able to save anything yet, so I need to figure out how to not be so greedy.  How do you handle the budgeting in your home?

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6 thoughts on “Family Budgeting

  1. We do our budget very similar to what you and your hubby do. I made a budget form that ‘names’ every dollar and tracks it’s flow from the time his pay is deposited through to where it ends up: either expensed or saved. Also we give ourselves free spending money (each our own). Don’t get discouraged Sis, it takes time to figure out the single income thing. I have found the trick is to have a pool of cash in an account separate from the grocery/household allotment. (I use the PC bank for this – it is free) With this pool, it’s not about building it fast – but rather building it — p e r i o d. I usually take anywhere between 10-25 every 2 weeks and just wait … something always comes on sale that I can buy up and store in my pantry. Try and see it as “skimming” from your grocery/household cash.

  2. Me again. There is one other thing I do. I always try and read a couple of books about budgeting/money per year. So far this year it’s a book by Gail Vaz-Oxlade (from the show Til Debt Do Us Part). I just started it but so far it’s good and it’s written the typical Gail vernacular LOL.

  3. That’s a good idea to keep extra money for sale items. I’ve been shopping at Aldi’s so I don’t think they have sales too often. but maybe in some of my other things that I don’t biy there.

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