#18: Budgeting: Gather Your Records

Kim · **#18: Budgeting: Gather Your Records**

Before you can begin to budget, you need to get a feel for what you spend and what your expenses are.

The first step in budgeting is to gather up all the financial information you have access to that will shed light on where your money is going: Credit card receipts, check registers, bank statements, store receipts, spending logs, etc.

The more data you have, the better. It's a good idea to go back six months or even more. This way, you can create more accurate monthly averages.

Check in when you've completed this step.

mamaof3kiddies · 02-18-2008, 08:16 AM

I like that with Microsoft Money they give you a budget. My problem is I don't always stick to it to a "t". I need to improve on that.

jso315 · **I'm Ready!**

it is all gathered & waiting in a folder next to the computer for step 2! (or 19 I should say!)

rbrokaw22 · 02-18-2008, 04:58 PM

I have a detailed list of all my monthly bills and when they are due, how much I usually owe, etc. The main problem I notice is my food, gas, and "other" spending is too high when added to all my other bills-so that's why I'm always adding on the credit cards!

chevy_chick95 · 02-18-2008, 08:36 PM

ready and waiting!

swishina · 02-18-2008, 11:18 PM

We've got good records of where our money's been going since we started our budget a few months ago.

itstinkerbelle · 02-19-2008, 06:42 AM

I have it all together too. BUT my biggest problem now is getting another car, the insurance will pay off the car loan but dont know whats left over yet? We have to go and get a new car now!!

happymommmy · 02-19-2008, 10:25 AM

Quote:

Originally Posted by swishina

We've got good records of where our money's been going since we started our budget a few months ago.

How do you do your budget? Do you use a program or do it on paper? I've been tempted to purchase a budget tracking program, but they are so expensive and my computer didn't come with any.

Kim · 02-19-2008, 10:28 AM

Quote:

Originally Posted by happymommmy

How do you do your budget? Do you use a program or do it on paper? I've been tempted to purchase a budget tracking program, but they are so expensive and my computer didn't come with any.

mint.com is free.