Is there an Everyday System related to Money and Spending?
Is there an Everyday System related to Money and Spending?
Having just received my VISA bill for last month, I think I've just found my May resolution...
Hi Pewari,
Nothing very polished yet, but here are a few old threads/systems on the subject:
http://everydaysystems.com/bb/viewtopic.php?t=2052
http://everydaysystems.com/bb/viewtopic.php?t=23
http://everydaysystems.com/bb/viewtopic.php?t=22
It's certainly a subject that's been very much on my mind lately so expect to see some more polish soon!
Reinhard
Nothing very polished yet, but here are a few old threads/systems on the subject:
http://everydaysystems.com/bb/viewtopic.php?t=2052
http://everydaysystems.com/bb/viewtopic.php?t=23
http://everydaysystems.com/bb/viewtopic.php?t=22
It's certainly a subject that's been very much on my mind lately so expect to see some more polish soon!
Reinhard
Thanks! Lots of food for thought in those threads and looking forward to seeing your polished system when you launch it.
I was giving this some thought yesterday and may well use this as my May resolution (May is a big spending month as I have my 2 sons' birthdays and my husband's birthday in quick succession, and this year we're also due to go away camping for 4 days).
HabitCal is helping me have much more willpower (so far!) than just simply having the rule. The problem is, I hardly ever use cash and most of my spending is online.
So for next month I am going to:
- draw out savings as soon as money hits my account and consider that untouchable.
- estimate food costs and take them out in my account software in advance for the whole month, rather than "budget" - in reality I never look at budgets, and I can always adjust the figure when I get the receipt. Gives me a goal to aim for.
- if I spend on Visa, immediately transfer the money over from my checking account.
- green day if the only spending I do was pre-checked with my accounts to see that I actually have a positive balance BEFORE I spend the money and immediately account for it. This will mean checking the balance before I go into town and knowing exactly what I have left.
- red day if I don't.
- no exemption days.
Potential pitfalls - lots of red days at the end of the month if I judge it badly and then have necessary expenditure (like out-of-the blue school trips). May have to write in something about drawing out money from savings if this happens, but at the moment I'd like to keep that untouchable.
I was giving this some thought yesterday and may well use this as my May resolution (May is a big spending month as I have my 2 sons' birthdays and my husband's birthday in quick succession, and this year we're also due to go away camping for 4 days).
HabitCal is helping me have much more willpower (so far!) than just simply having the rule. The problem is, I hardly ever use cash and most of my spending is online.
So for next month I am going to:
- draw out savings as soon as money hits my account and consider that untouchable.
- estimate food costs and take them out in my account software in advance for the whole month, rather than "budget" - in reality I never look at budgets, and I can always adjust the figure when I get the receipt. Gives me a goal to aim for.
- if I spend on Visa, immediately transfer the money over from my checking account.
- green day if the only spending I do was pre-checked with my accounts to see that I actually have a positive balance BEFORE I spend the money and immediately account for it. This will mean checking the balance before I go into town and knowing exactly what I have left.
- red day if I don't.
- no exemption days.
Potential pitfalls - lots of red days at the end of the month if I judge it badly and then have necessary expenditure (like out-of-the blue school trips). May have to write in something about drawing out money from savings if this happens, but at the moment I'd like to keep that untouchable.