Comments on: Flexible Budgets are Successful Budgets http://www.nodebtplan.net/2009/09/11/flexible-budgets-are-successful-budgets/#utm_source=rss&utm_medium=rss&utm_campaign=flexible-budgets-are-successful-budgets A personal finance blog teaching you how to live debt free and use credit wisely. Fri, 10 Feb 2012 15:18:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Kevinhttp://www.nodebtplan.net/2009/09/11/flexible-budgets-are-successful-budgets/#comment-37143 Kevin Tue, 15 Sep 2009 01:01:18 +0000 http://www.nodebtplan.net/?p=3146#comment-37143 Exactly. It is all one big pile of money. If you spend $10 more in one category it shouldn't be that big of a deal. We take this one step further by budgeting on a monthly basis -- we live on <em>last month's income</em> instead of planning paycheck to paycheck. So in your example if we spend $25 more on gas then next month we plan to spend less -- generally speaking we have more months where we have money left than not enough money, so it works out. Exactly. It is all one big pile of money. If you spend $10 more in one category it shouldn’t be that big of a deal.

We take this one step further by budgeting on a monthly basis — we live on last month’s income instead of planning paycheck to paycheck.

So in your example if we spend $25 more on gas then next month we plan to spend less — generally speaking we have more months where we have money left than not enough money, so it works out.

]]> By: MKhttp://www.nodebtplan.net/2009/09/11/flexible-budgets-are-successful-budgets/#comment-37120 MK Mon, 14 Sep 2009 16:37:33 +0000 http://www.nodebtplan.net/?p=3146#comment-37120 I've been following this method for some time. I have set up a sort of guideline budget for myself of ideal numbers for my monthly spending which is generally a nice round number that represents my average spending from the previous year. ie: $300 for food and $200 for gas. But I don't get down on myself if gas ends up being more like $225 because I then jsut tell myself I need to go out one less night and trim my food budget back to $275. I'm still spending from the total amount budgeted, just not the amount i predetermined for each catergory. I’ve been following this method for some time. I have set up a sort of guideline budget for myself of ideal numbers for my monthly spending which is generally a nice round number that represents my average spending from the previous year. ie: $300 for food and $200 for gas. But I don’t get down on myself if gas ends up being more like $225 because I then jsut tell myself I need to go out one less night and trim my food budget back to $275. I’m still spending from the total amount budgeted, just not the amount i predetermined for each catergory.

]]> By: Leighhttp://www.nodebtplan.net/2009/09/11/flexible-budgets-are-successful-budgets/#comment-37083 Leigh Mon, 14 Sep 2009 01:24:44 +0000 http://www.nodebtplan.net/?p=3146#comment-37083 I'm in my third month of budgeting and I love it. (What can I say, I'm a nerd at heart). I feel so much more in control now that I know where my money is going and can give it a job instead of just frittering it away. I’m in my third month of budgeting and I love it. (What can I say, I’m a nerd at heart). I feel so much more in control now that I know where my money is going and can give it a job instead of just frittering it away.

]]> By: brooklynchickhttp://www.nodebtplan.net/2009/09/11/flexible-budgets-are-successful-budgets/#comment-37015 brooklynchick Sat, 12 Sep 2009 13:09:45 +0000 http://www.nodebtplan.net/?p=3146#comment-37015 I found Elizabeth Warren's advice on budgeting to be the most helpful - her book is called _All Your Worth_. I found Elizabeth Warren’s advice on budgeting to be the most helpful – her book is called _All Your Worth_.

]]> By: mewithoutdebthttp://www.nodebtplan.net/2009/09/11/flexible-budgets-are-successful-budgets/#comment-36836 mewithoutdebt Fri, 11 Sep 2009 14:44:07 +0000 http://www.nodebtplan.net/?p=3146#comment-36836 I agree with you. I like pragmatic approach in budgeting. I agree with you. I like pragmatic approach in budgeting.

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