Budgeting ????
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Thread: Budgeting ????

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    Registered User frugalwanttobe's Avatar
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    Default Budgeting ????

    I am confused as to where to put the money when I make a budget. Let me explain.....if I allocate 25 dollars a month for car repairs and I do not use the car repair money for several months where does it go? Does it sit in an envelope or do I put it in a bank account. I was just wondering all of your thoughts on this. What does Dave Ramsey recommend?

    thanks

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    Registered User justpeachy92's Avatar
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    I have a seperate checking account that I put it in.

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    Registered User bumplett's Avatar
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    I've run into the same thing - I keep it in the envelope.

    my example is: pets - I know that I won't need $25 or $50 per month, but I will need $300 per year - so I'll keep the leftovers in the envelope to accumulate til needed. If I were to put it into the bank, I'd loose track of it & it's intended purpose.

    good luck!
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    We keep ours in our bank account. We keep a spreadsheet of how much has been saved for each category (insurance, gifts, car repairs, etc), so we aren't tricked into thinking we have extra money.

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    Registered User Libby's Avatar
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    Id suggest putting in into the bank - a seperate savings account or open up and ING account. Keep a notebook/spreadsheet on when and how much you've put in there so you'll always have a running total.

    example:

    Jan 3rd - Car Maintenance - $40
    Jan 20th - Vacation Fund $100

    Feb 1st - Car Maintenance Fund - $25 ($65)
    Feb 25th - Vacation Fund - $56 ($156)

    This way you'll always know exactly how much you put in for what purpose.

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