http://www.uncommon-cents.net/2008/06/14/basics-baseline-budgeting/ (Hopefully) simple personal finance Thu, 08 Jan 2009 21:35:37 +0000 http://wordpress.org/?v=2.7 hourly 1 http://www.uncommon-cents.net/2008/06/14/basics-baseline-budgeting/comment-page-1/#comment-1865 Basics: Your Goal Budget | Uncommon Cents Fri, 08 Aug 2008 21:40:24 +0000 http://www.uncommon-cents.net/2008/06/14/basics-baseline-budgeting/#comment-1865 [...] Since we’ve established a baseline budget, it’s time to come up with some goals for your budget. A goal budget is what you would like to be spending each month. Typically, when a baseline budget is established, we see some surprising numbers. For instance, when I did a baseline budget years ago, I discovered I was spending $50 a month on soda rather than the $30 a month I expected. While $20 a month isn’t a significant amount, spending 67% more than I believed I was in any category tells you that your perceived budget is not as near to reality as you need it. These types of expenses–the ones where you are spending more than you thought you were–are the best ones to target for early success with your goal budget. See what you can do to reduce spending in that area. If I’m spending $50 where I thought I was spending $30, I may target $40 a month as an initial target. Something helpful in terms of this type of budgeting is that if you thought you were spending less, you probably can at least approach what you thought you were spending. [...] [...] Since we’ve established a baseline budget, it’s time to come up with some goals for your budget. A goal budget is what you would like to be spending each month. Typically, when a baseline budget is established, we see some surprising numbers. For instance, when I did a baseline budget years ago, I discovered I was spending $50 a month on soda rather than the $30 a month I expected. While $20 a month isn’t a significant amount, spending 67% more than I believed I was in any category tells you that your perceived budget is not as near to reality as you need it. These types of expenses–the ones where you are spending more than you thought you were–are the best ones to target for early success with your goal budget. See what you can do to reduce spending in that area. If I’m spending $50 where I thought I was spending $30, I may target $40 a month as an initial target. Something helpful in terms of this type of budgeting is that if you thought you were spending less, you probably can at least approach what you thought you were spending. [...]

]]> http://www.uncommon-cents.net/2008/06/14/basics-baseline-budgeting/comment-page-1/#comment-1296 Basics: Saving vs. Debt Reduction | Uncommon Cents Thu, 03 Jul 2008 22:13:10 +0000 http://www.uncommon-cents.net/2008/06/14/basics-baseline-budgeting/#comment-1296 [...] saving vs. debt reduction argument, it’s pretty much a necessity you’ve examined your baseline budget and gotten a handle on your cash flow. If you’ve not done these, do so first! Once [...] [...] saving vs. debt reduction argument, it’s pretty much a necessity you’ve examined your baseline budget and gotten a handle on your cash flow. If you’ve not done these, do so first! Once [...]

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