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  1. #1
    still digging' my way out
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    Question Staying on budget

    So in an effort to make it pay day to payday with less stress. I finally got my DH to agree to doing a budget.

    Do you think this would work?
    We get paid twice a month. The 15th and 30/31st.

    I can break our bills into two and pay them on each pay day (did this by averaging our monthly bills).

    I'll take the grocery budget out on pay days and go shopping.

    I'll pull out half of our rent on the 15th and put it back in the account on the 1st when rent is due.

    That leaves enough for gas, lunches for DH and any little extras in the account after everything else is paid.
    I was thinking of getting one of those rechargeable visa cards and putting DH's gas budget on it each pay day.

    So, he can't accidentally spend it on fishing lures

    It's kind of like the envelope budget plan, I'm just paying the bills as soon as we get paid to avoid temptation.

    Any suggestions or comments are welcome!!!!!!

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  3. #2
    Deal GURU
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    Default Re: Staying on budget

    From what i can see, it may work. one thing you will have to consider with the prepaid visa is some of those charge when you use them, which would mean a few extra dollars in this budget. You would have to check into that for this use so you arent surprised if the money runs out wuicker than you thought it would
    Mdowdy

  4. #3
    still digging' my way out
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    Default Re: Staying on budget

    Thanks mdowdy.
    That's a good point about the extra fees, I'll have to look into that.

    I just can't take the 4 days to payday and $2 in the bank stress anymore!

  5. #4
    Deal GURU
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    Default Re: Staying on budget

    We set up a separate checking acct for DH and got him a debit card to get his gas and misc expenses. He has his budget and knows whats there and when it's gone that's it. He took our son out to eat last night. I woke up to his being overdrawn so gave him $3 to pull him out of the hole and let him know he was broke for the rest of the month. Gonna be a long month, thankfully he filled his gas tank too! Just got to find a system that works for you! I use the envelope system for my self and it works good for me. And DH usually does good but is in a different location from usual and can't see bank records and lost track. We only get paid on the 1st and a mistake can be very painful! helps you do better the next month with the budget!

  6. #5
    Smart Budgeter
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    Default Re: Staying on budget

    We have two seperate accounts- one for strictly bills and the other is grocery & gas money. We get paid 2x per month as well and pay bills on the 1st and the 15th-each pay check so much is automatically deposited into the grocery & gas acct. We also allow each of us $60 per paycheck for spending money which seems to work for us. We however did not get that on Jan 1st due to we needed money to pay off bills (we wanted to pay off everything so cc's had a zero balance). Sticking to a budget is not always easy yet once you get the hang of it (as does your dh) it just becomes second nature.

  7. #6
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    Default Re: Staying on budget

    I have also found the envelope system to be invaluable to us. I only pull out of the bank the things that I need cash for: groceries, allowances, etc. The rest stays in the bank where it can be paid with a visa debit card. 0 fees if it is used as a credit card. We have had pretty good outcomes doing it this way. We write down everything that needs to be paid for the rest of the week. I get paid weekly, He gets bi-weekly pay. We have noticed that if this is not worked out together in advance and agreed upon that we are more likely to spend on something we don't need. This seems to work for us most of the time. Good luck with yours.

 

 

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