My financial plan is

**RuthNY** · 11-23-2005, 03:26 PM

to have no plan.
I've been driving myself CRAZY trying to put percentages to catagories and have Freedom accounts and Emergency funds (which no one seems to be able to differentiate between anyway).
Right now I am debt free but have have retirement goals. I have no way of knowing what my budget will be when I move into the house so I have decided to not have any other plan but to put my planned amount of retirement funds away, have my utilities at bare minimum (already are), spend only when needed with in a set allowance(give up stockpiling for now) and SAVE EVERYTHING.
I will not allocate amounts into catagories. I will have ONE savings account until amount is sufficient for Emergency Fund, put that aside then save everything until such a time as I KNOW what I am doing (That could be never LOL!).
There, that feels better already! I just have to make it thru the rest of the Holidays of 2005.
That's my plan and I'm sticking to it!!!

**AmyBoz** · 11-23-2005, 03:57 PM

Ruth, Sounds like a "plan" to me!!!

I don't differentiate into categories, or have a budget either. We have a checking and savings account. Everything goes into savings and we transfer over money when the bills come in and pay them from checking. It works for us, and I'm sure it will work for you!

**Early Bird** · 11-23-2005, 04:17 PM

Oh! NO! That sounds like anarchy to ME!

I'm the kind who has 'fences' for everything. Drives DH nuts.

BTW, I think the difference in a Freedom Account and an Emergency Fund is this: the Freedom Account is so that you have money set aside for known/regular expenses. Like car insurance. Or internet service, paid once a year. The Emergency Fund is what's there for unexpected expenses. Like an illness or a job loss.

Yes, I have fences around both an Emergency Fund and several Freedom Accounts -- car insurance, property tax, ISP, new car fund, etc.

**RuthNY** · 11-23-2005, 07:12 PM

I guess I'll just have to call myself "The Free-Range Saver" (get it? No fences...ba dum bum bum)

**Early Bird** · 11-23-2005, 08:57 PM

AAAAGGGHHH! That's awful, Free Ranger!

**favesis37** · 11-24-2005, 01:08 AM

lol, good luck!

**frugalfarmwife** · 11-24-2005, 01:25 AM

LOL, Love it, Free Ranger

I drive myself nuts with organizing, percentages, etc, etc, etc!

KJ

**frugalfarmwife** · 11-24-2005, 01:25 AM

LOL, Love it, Free Ranger

I drive myself nuts with organizing, percentages, etc, etc, etc!

KJ

**Telephus44** · 11-25-2005, 06:36 PM

Sounds like a good idea to me. I think different things work for different people, and if you make your system too complicated or difficult for yourself, you're less likely to follow it. The same priciple works with dieting. You don't want to stress yourself out with tons of categories and percentages if it just becomes a huge headache for you.

Also - there are many different ways of handling your money. I'm sure that there are people who've never even heard of and "Emergency Fund" or a "Freedom Account" who are doing just fine.