How often do you redo your budget?

iVillage Member
Registered: 04-10-2003
How often do you redo your budget?
8
Tue, 11-10-2009 - 8:08am

Just curious. How often do you guys review your budgets and make adjustments?


I do mine in January to account for whatever the heck my new property taxes are going to be, so I need to add about $30 to that. I also try to increase my savings a little bit each year so that I get used to saving the higher amount. January seems like a good time to do this since my paycheck drops (EI and CPP are baaaacccckkk) so its really only one big shock to the system.


Anyone else up for a budget review anytime soon?


Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

iVillage Member
Registered: 08-24-2007
Tue, 11-10-2009 - 9:38am

I draft an annual budget every December and review it every June because sometimes my situation changes during the year.

Kate


empty purse

iVillage Member
Registered: 10-01-2008
Tue, 11-10-2009 - 10:00am

I do my budget monthly.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 11-14-2008
Tue, 11-10-2009 - 2:49pm

I do look at our budget quite often. Something is not working quite right though. I put things in my budget for the savings part but tend not to use it and it sits so then I think the cash is being under utilized and I take it out of that category and put it somewhere else. What has helped me more is sitting down with bf and us discussing what is coming up in the next month, six months to a year and this helps us plan for it and not forget to pay it(if it isn't a monthly thing). One category that worked really well though was putting away an amount each month for our property taxes. This is a really big expense especially since we own land but it worked like a charm. I tranfered the money to my chequing account and wrote a cheq for it when it was due. No fuss, no muss, no stress. It was in the budget!

Yes it has to be revisited occasionally especially if something changes. I am talking about a big thing like paying off a debt or a car or with adding in a big expense or even getting a raise. Then the money must be reallocated to saving for something like a car fund or house fund or must be dragged from another category to cover that new expense.

Again........hope I don't fall off the teeter totter, my bf thinks I'm nuts btw to have half of this in my head at any one time and be so analytical about it all the time. But you know what? That is how I get what I want in the end. And I will get what I want(a new house) in the end maw ah ah ahhhhhhh! LOL!

Love the Keg! Bf and I went the same time you did! We had a gift cert but went way over. Yummy!


iVillage Member
Registered: 10-01-2009
Tue, 11-10-2009 - 6:10pm

Im constantly doing budgets and redoing them and then redoing them


Then I have hard time following them and so I redo it again...


Still trying to find one that works for me...


Ask me again same time next year....lol


Duke

iVillage Member
Registered: 08-04-2008
Wed, 11-11-2009 - 4:45am

Ok, this is my pitch to be considered a completely anal queen.




iVillage Member
Registered: 08-24-2007
Wed, 11-11-2009 - 4:06pm

Well Marie, if you are anal, then so am I!

Kate


empty purse

iVillage Member
Registered: 05-20-2005
Wed, 11-11-2009 - 11:01pm
I make a budget for the entire upcoming year in December.
Wedding
iVillage Member
Registered: 04-10-2003
Thu, 11-12-2009 - 8:10am

Very interesting input.


My budget is a monthly budget on excel where I can keep track of everything, but I also use the good ol' fashioned pen an paper method to keep track of what is coming out of each pay (i.e. write down the pay at the top of the page and what needs to be paid from it. As they come out I scratch them off).


I just finished tweeking for the New Year.


Bex -