Quote:
Originally Posted by aigel
I guess I have been lucky - don't have a budget. But 401k comes right out of the pay check and all savings are auto-deposited in relatively small chunks into separate accounts, including college funds. New cars and toys are only bought if there is plenty of cash in savings. If not, well, we wait.
This has worked well, but we've always had decent income and don't spend much on large items like vacations, dinners out, furniture, cars etc. - that's where we always pinch. Of course there are times when the cash in checking doesn't seem to last, then we dial it back a notch. Also NEVER take on debt on anything but mortgage.
So, I guess I do budget in the sense that I take savings off the top and don't touch it.
G
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This is kind of what we do. I have a pension and a 457 and my contributions are automatically taken out of my check. My check is auto deposited into our savings account and we only transfer what we need to checking to pay bills. So whatever is left over stays in savings. The only debt we have is our house and my truck is almost paid off. The problem we run into with this method is we don't limit ours spending for things like food and entertainment. We can easily spend $1200 a month on food for a family of 4 and my kids are only 7 and 8 and don't eat much!