First-of-the-Month budgeting tasks

iVillage Member
Registered: 02-26-2010
First-of-the-Month budgeting tasks
8
Tue, 06-01-2010 - 8:49am
It's a new month and there are a few simple Budgeting tasks I need to take care of to start June off on the right financial footing. I'd thought I'd share them here in case they might help someone else focus on budgeting today.


1. Pay rent/mortgage


2. Identify which bills are due this month, so you can check them off as they come in.


3. Draft the written budget. Remember to plan for special expenses like June birthdays, travel, and other one-time expenses or purchases. If you have a partner, run it by them and get their buy in.


4. Prepare to track spending (this might mean taking out cash for the envelope system, making sure you have a pen and notebook to track purchases, or at least designating a place in your purse to keep receipts).


5. Print new coupons from the Coupon Mom web site (new coupons are available around this time every month).



Do you have any special first-of-the-month budgeting tasks you need to remember?

Colleen


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iVillage Member
Registered: 03-05-2006
Tue, 06-01-2010 - 8:46pm

Great list. This month is a huge month for us and is a bit overwhelming at this point!

I have been trying to go the coupon route and have found that some sites (I cant remember which) require you to download a program to print. Is this one, one of those?

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iVillage Member
Registered: 01-12-2008
Tue, 06-01-2010 - 10:47pm
Wow, that is a great list. I need to sit down and go over our new budget. With moving everything is so hectic!!! I need to get my x-mas fund up to date, along with car maintance fund. The begining month of bills are paid. but that is about it. Ugh, I need to take a minute to myself and get my head racked on straight and start to get all of this stuff done.
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iVillage Member
Registered: 02-26-2010
Wed, 06-02-2010 - 12:48am

Caroline,


I'm glad you like the list! We have a lot going on this month, too.


I wish I could remember how I initiallly setup the coupon application, other than setting up a user name and password on Couponmom.com. I think I did have to allow the program to run, somehow, but I don't think it's downloaded on my computer.


Once I did it, it works for a bunch of different coupon sites, including Coupons.com and RedPlum.com, which are linked directly from CouponMom.com. Basically, you get to page through a long list of coupons, clicking the ones you want as you go, then you click print when you're done. I always start at the Grocery Deals by State feature.


There's a tutorial you can read to get started. It's pretty easy after the first time you try it.


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iVillage Member
Registered: 02-26-2010
Wed, 06-02-2010 - 12:51am

Hi Vanessa! That's what I'm doing too - just getting my head wrapped around everything I need to do. This is the first written budget for me since the baby came along. With the new baby here and me being so sick, our routines all went out the window. But, we're starting fresh with June.

Colleen


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iVillage Member
Registered: 12-12-2006
Fri, 06-04-2010 - 1:36pm

I wish I had read this on the FIRST of the month! It would have triggered my memory. This month was the first automatic withdrawel of my student loan payment. I remembered it was coming out, but I forgot to take it out of my check book :(

"I know God will not give me more than I can handle, I just wish he wouldn't trust me so much!" Mother Theresa

 

iVillage Member
Registered: 02-26-2010
Fri, 06-04-2010 - 7:28pm

Good thing you are looking on the bright side - it was covered! I made an expensive mistake recently.


I paid the electric bill money to XM radio. I didn't even owe XM a dime, they were just an old payee in my online account. I gave them over $150 for nothing and it's probably now a credit with XM that I will never need.


One phone call on Monday should clear it up. And I had the money and time to still make my electric bill payment, so no harm done, as long as XM plays fair.


This is what I get for paying bills online when I'm tired. Now if I can just figure out a way to not be tired with a new baby in the house.


Nope. Can't do it.

Colleen


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iVillage Member
Registered: 12-04-2006
Fri, 06-04-2010 - 11:28pm

Ouch, I've done that a few times. I've managed to accidentally pay the money that was supposed to go to paying off a hire purchase to my phone company - didn't have the money to pay the hire purchase that week as a result but spoke to the HP company to let them know I'd screwed up and the payment would be made the following week.

More recently, I somehow made a payment to my loan instead of my credit card (both are on my online banking and both can have extra paid on them). Since it was an extra payment to the CC it wasn't a problem, I just ended up scratching my head for a while to figure out why the CC balance wasn't what it should be.

As a result of both of these, I make myself re-read the information of where the money is going, the amount and the account the money is coming out of before letting myself click to confirm.

Colleen, I know its difficult with a young one, but are there any times of the day where you feel more alert than others? I only ask because I know that like you my mess-ups occur when I'm tired. If there are times that you are routinely more alert, perhaps you could try to do the bill paying during those times (assuming DS is napping)

Lyn

Lyn

iVillage Member
Registered: 02-26-2010
Sat, 06-05-2010 - 8:58am

Lyn, you are right. I wouldn't normally make a mistake like this one. I blamed the baby (poor kid) for keeping us busy and tired, but it was also because everything's been turned upside down around here due to my health problems and hospital stay.


We were both stretched so thin, mentally, something like this was bound to happen. Things are starting to normalize and I'm looking forward to a nice, boring week!

Colleen


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