How do you keep from getting overwhelmed?

**imagine** · 09-20-2010, 11:46 AM

Hubby ( with the accounting degree) has decided that it is time I keep the budget and accounts at home. That is is something I need to know. I agree.

He helped me set up the new program we are using. I think it uses what is called double entry accounting. You tell where it came from and where it went and the two have to balance. We can print reports.

So now I know all the bills and when they come out. Hubby reports if he takes cash out and what he spends it on (generally only soda a work or lunch if he can't get away that sort of thing)

So I'm the budget account keeper. Plus the fact that I can see it all in black and white our financial situation. I find myself overwhelmed from time to time and find myself checking bill dates/amounts, what as gone in and out several times a day.

Hubby said he never meant to stress me out and will take it back as his job if need be but I really want to make this work.

I'm not sure if I'm over whelmed because it is new to me or if I'm trying to do to much or if the financial picture isn't what I thought it was and I'm trying/worrying about it to much. or if overwhealmed by trying to see the big picture ( oldest goes to college in 5 years)

How does one keep from being overwhelmed with financial tracking and debt reduction?

**shoiji** · 09-20-2010, 12:49 PM

Try to remind yourself that you do not need to check what goes in and out several times a day. As long as there is enough money in the account to cover everything you are fine.

Try setting a time that you check everything. That could be in the evening after all spending for the day is over. Or the next morning.

You probably just need to get used to the system. I think it is great you are learning what is going on in your finances. This way the two of you will be more in sync with what is going on.

I created my own spreadsheet to keep track of monthly spending. It took me awhile to get used to everything even though I made up the spreadsheet.

**krbshappy71** · 09-20-2010, 12:53 PM

Originally Posted by imagine

Hubby ( with the accounting degree) has decided that it is time I keep the budget and accounts at home. That is is something I need to know. I agree.

He helped me set up the new program we are using. I think it uses what is called double entry accounting. You tell where it came from and where it went and the two have to balance. We can print reports.

So now I know all the bills and when they come out. Hubby reports if he takes cash out and what he spends it on (generally only soda a work or lunch if he can't get away that sort of thing)

So I'm the budget account keeper. Plus the fact that I can see it all in black and white our financial situation. I find myself overwhelmed from time to time and find myself checking bill dates/amounts, what as gone in and out several times a day.

Hubby said he never meant to stress me out and will take it back as his job if need be but I really want to make this work.

I'm not sure if I'm over whelmed because it is new to me or if I'm trying to do to much or if the financial picture isn't what I thought it was and I'm trying/worrying about it to much. or if overwhealmed by trying to see the big picture ( oldest goes to college in 5 years)

How does one keep from being overwhelmed with financial tracking and debt reduction?

Sloowwww down on the repeated checking of accounts. Pick a date and time to do so. Once a day at 4 p.m. if you like, once a week on a Monday at 8 a.m., anything to stop the obsessing.

If you lined everything up together, when it will be paid, you should be able to "set it and forget it".

Rather than have hubby report to you when he takes money out can you have him take out the set agreed upon amount at once in cash and then he operates off cash? That way you don't have to think about transactions coming through all week.

**imagine** · 09-20-2010, 12:59 PM

Originally Posted by krbshappy71

Rather than have hubby report to you when he takes money out can you have him take out the set agreed upon amount at once in cash and then he operates off cash?

Hubby does operate on cash.

In the double entry accounting everything is accounted for so if money went into cash and you spent it it has to be accounted for in another "account" like expense: dining. So he still has to report cash spending. just like I have to account for all my cash spending.

hubby will take cash out as needed form the bank. He works there so it is easier for him to do it then me do it and then had it over

**mndtrp** · 09-20-2010, 08:44 PM

Do it together for a while, three times a week. Maybe more or less, depending on how often you two think you truly need to check.

**frugal is fun** · 09-21-2010, 11:25 AM

it sounds to me like you need a "simpler" system. He's the accountant not you, do you really need the double entry thing? will a note book and a calculator work?

you need to find a system that works for you. That system works for him but may not be what works for you.

**imagine** · 09-21-2010, 11:34 AM

Originally Posted by frugal is fun

it sounds to me like you need a "simpler" system. He's the accountant not you, do you really need the double entry thing? will a note book and a calculator work?

you need to find a system that works for you. That system works for him but may not be what works for you.

This program is new to him and he picked it out as it was easy for me. (He didn't need a system he could keep it all in his head)

It really is an easy program to use and you really do know where the money went.

The program isn't the part that stress or overwhelms me.

**KimZ** · 09-21-2010, 11:43 AM

I'm new to the Village, but if I may interject. A budget is only a Guideline.... Sometimes My Budget is over on one account and under on another. No one has ever died from not following a budget. I am an accountant too :-) Do you know why most people don't follow budgets? because A) They are overwhelmed and don't use it for a guideline - they use it as a life line and B) they get so fustrated they give up.

Try to just check it once and a while.... I use Quicken for my personal finances and it works GREAT. Try to Simplify or as some people say Kiss ( keep it simple )

**imagine** · 09-21-2010, 11:50 AM

Originally Posted by KimZ

I'm new to the Village, but if I may interject. A budget is only a Guideline.... Sometimes My Budget is over on one account and under on another. No one has ever died from not following a budget. I am an accountant too :-) Do you know why most people don't follow budgets? because A) They are overwhelmed and don't use it for a guideline - they use it as a life line and B) they get so fustrated they give up.

Try to just check it once and a while.... I use Quicken for my personal finances and it works GREAT. Try to Simplify or as some people say Kiss ( keep it simple )

Our budget is a guideline and is just a simple sketch so it speak.
What we use to track finances is similar to quicken just not as expensive. I looks like a check registrar. I like the program a lot.

**KimZ** · 09-21-2010, 11:57 AM

So may I ask then why you feel so overwhelmed? Is it the just the responsibility and new hat you are wearing? the program?

**imagine** · 09-21-2010, 12:30 PM

Originally Posted by KimZ

So may I ask then why you feel so overwhelmed? Is it the just the responsibility and new hat you are wearing? the program?

Why am I overwhealmed? That is a very good question and I'm trying to figure out the answer.

The program is easy just like using a check registrar. So that is easy.

Checking accounts on line is easy. I also have an "in at the bank" (Hubby) so I can have extra up to the minute accurate account info. Which means he also has put to the minute account info to which sometimes causes him to have questions which can be good or bad.

New hat? Maybe I learning how to wear the hat while Hubby can't figure out why the hat isn't super comfortable on me already .

It might be that for the first time I am the one to seeing the numbers in black and white. Maybe that is what is over whelming me. Now I'm the one in charge of making sure all the bills are paid (some I didn't even know about like some insurance policy premiums)
Now I'm the one that has to figure out how and where X money is going to come from. For example Son's orchestra trip this summer or college in five years or the school shirt money due before payday. Maybe I'm impatient wanting to will the credit card debit down faster than is possible.

Why am I feeling overwhelmed? Very good question One I hope I find the answer to soon.

**khaski** · 09-21-2010, 12:34 PM

Keep clear track of your 'goals', be it savings or debt reduction...the warmth and fuzziness of seeing your progress there helps negate the stress of the rest of it, I find.

**KimZ** · 09-21-2010, 12:46 PM

Instead of looking at the HUGE picture.... Can you break it down into little pictures?

the old adage One Day at a Time...

As for the credit card debt.... I got out about 10 yrs ago and while I was doing it - everytime I thought about wanting really to get out of it - I told myself... I didn't spend it all in one shot so it's gonna take some time to get out from under the spending umbrella.

Do you have your money priorities set up as Immediate, Short, Medium and Long? I always find setting priorities with anything helps keep me focused.

Other than that all I can do is give you a Hug and tell you that you will get through this!

**imagine** · 09-21-2010, 01:03 PM

Originally Posted by KimZ

Instead of looking at the HUGE picture.... Can you break it down into little pictures?

the old adage One Day at a Time...

As for the credit card debt.... I got out about 10 yrs ago and while I was doing it - everytime I thought about wanting really to get out of it - I told myself... I didn't spend it all in one shot so it's gonna take some time to get out from under the spending umbrella.

Do you have your money priorities set up as Immediate, Short, Medium and Long? I always find setting priorities with anything helps keep me focused.

Other than that all I can do is give you a Hug and tell you that you will get through this!

I guess I'm still at the stage of getting the pictures small and big into focus. Maybe that will help.

**Pianolady** · 09-21-2010, 03:26 PM

It could be the newness of it. When I first started budgeting with my computer/spreadsheets, it was a bit stressful. However, now that I'm in the routine, it's so nice to know exactly where we are financially at all times. I found it built confidence over time. It's nice not to wonder if I should be making a purchase or not, I know.