Money management report card

**Russ** · 11-02-2009, 07:30 PM

How would you grade your households money management?
Including your budgeting, savings, and all around frugalness?

After grading yourself, list where you think SOMEONE else would suggest you improve.

**MTS04** · 11-02-2009, 10:53 PM

Anticipating the sniggly little incidental expenses. I always forget those and end up rectifying them in the budget at the end of the month.

**larabelle** · 11-02-2009, 11:19 PM

I think someone would suggest that I could definitely improve in the food budget. I do really well in that area and then I just blow it by going out to eat several times for no apparent reason as I have food at home.

**Thevail** · 11-03-2009, 01:54 AM

I think someone else would say we need to do a better job at saving money long term.

We've only gotten to the point of being able to save 10% of our income in the last year. And this year we used it to:
pay extra on the mortgage,
buy half a cow,
buy a newer more reliable fuel efficient car,
replace a window
and replace the furnace
and get us through months of unemployment.

I think we spend money really wisely.. we just don't continue to save it..someday that's gonna suck.

**Russ** · 11-03-2009, 06:54 AM

If someone looked at our spending they would suggest getting a hold on the dining out.

**TheRootedNomad** · 11-03-2009, 07:04 AM

Depending on the month .... what we spend on dining out can be out of wack with the rest of our budget. We get a good handle on it and then we lapse. Someone also might suggest the cable go or look at our bigger splurges that happen every once in awhile, like DH winning some money the other day and immediately going to spend it all on a new bowling ball. Honestly that kind of stuff makes my head spin sometimes.

**TheRootedNomad** · 11-03-2009, 07:05 AM

After re-reading.... to be fair .... even though I am frugal with what I do for Christmas I could really cut a lot more. Nov/Dec are definately my spend downfall months.

**a.nonymous** · 11-03-2009, 07:14 AM

That ominous inspector certainly would suggest that we have a far more detailed budget instead of broad categories (rent, food, utilities, insurances, car savings, blow/buffer).

**Russ** · 11-03-2009, 09:26 AM

Glad to see nobody needs serious help.

**nodmicks** · 11-03-2009, 09:44 AM

We do ok but we could always do better. We eat out too much and could save more of course. Also our budget could be lots more detailed.

**nodmicks** · 11-03-2009, 09:59 AM

Originally Posted by Thevail

I think someone else would say we need to do a better job at saving money long term.

We've only gotten to the point of being able to save 10% of our income in the last year. And this year we used it to:
pay extra on the mortgage,
buy half a cow,
buy a newer more reliable fuel efficient car,
replace a window
and replace the furnace
and get us through months of unemployment.

I think we spend money really wisely.. we just don't continue to save it..someday that's gonna suck.

I think you are doing an awesome job!!!! Very wise and practical!

**monkeywrangler71** · 11-03-2009, 10:19 AM

We are good at saving and all around frugalness, not good at budgeting. We know where our money went, but don't really plan where it's going - just try to spend the least amount possible.

Our weak spot is eating out. There are only two things I hate more than cooking: planning what to cook and eating it.

**Greebo** · 11-03-2009, 11:12 AM

I think we do really well on the savings. 15% to retirement (50/50 real estate and stock market), and 6.9% on top of that into general emergency fund savings.

Where we still could improve is on how we use our money. But - we're getting better. The frivolous expenses have been dwindling substantially, and when we have overruns, they are not for frivolous purchases.

**Inkstain82** · 11-03-2009, 11:53 AM

I think we do fantastic. Right now, our monthly income is split: 50.7% household expenses, 28.6% mandatory debt payments, 20.7% savings/extra debt payments. In a couple of months the hospital bill from DS's August birth will be paid off, as well as the car, and we'll be more like 47/12/31.

I'm not sure how much better we could reasonably do, until my wife gives in to my fantasy of selling the car and walking everywhere.

**frugalwarrior** · 11-03-2009, 12:57 PM

I don't know. Our pantry is probably overstocked and i have used the CC to do it occasionally so that balance has grown.
We got a second car and have $300. a month payment for 3 years w/ xtra ins. but 3 people are using it. I am at a loss where I could cut back. We have been hit hard w/ medical and car repairs and catching up w/ household repairs left for too long.
I guess pets, not making my 19 years old kick in and eating out.