Thursday, November 4, 2010

The "B" Word

Budgeting. For most people, that word brings on at least a little anxiety. Up until recently, I've been living strictly by the "don't-take-more-out-than-you-put-in" budget. Which, while effective, was not the most sophisticated of budgets. I'm am trying (not for the first time) to develop (and stick to) a more structured budget.

Why? Honestly, there are several reasons as to why. And they're not all "well I'm getting older and I need to save for a wedding, kids, and a house" type reasons...though those are good ones. But one of my major motivators is that I know I'm making a lot more money than I ever have (i.e. Grown-Up Salary vs. Grad Student stipend) and I want to make sure it's being put to good use and not just being pissed away. Whether this is saving up for a new pair of boots or building an emergency fund, I just want to make sure my money is being spent purposefully, even if it is on a new pair of boots (are we sensing a trend?).

How? I'm doing a few different things. One of the first and scariest is a little spending analysis (more on this later). Second, I downloaded a budgeting app for my iPhone. I haven't decided whether or not this is going to be a permanent fixture, but I'm giving it a whirl. Lastly, I created a good old fashioned budget spreadsheet (well, as old fashioned as you can be creating a color-coded spreadsheet on Excel). A lot of this is going to be trial and error (hence blogging about it so maybe you guys will have a little less error). 

Goals: Well this part is a little more fuzzy. I think as I work through getting this budget thing figured out I will have some more clear goals. For now I want to work towards setting up an emergency fund and figuring out where I spend my money and budgeting/altering accordingly. 

2 comments:

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  2. T,
    First off please call my adoring husband and tell him that the "B" word isn't a curse word. it would help me out a lot, thanks.
    Secondly, i think you could get some great followers for your blog if you wrote more on "becoming a Military significant other" and your trials and tribulations w/ that. I know many of the wives/girlfriends/boyfriends of people i know are always looking for so insight from people who have "been there, done that" Just another random idea.

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