Is Budgeting Effective?
I’m embarrassed to admit this, but I don’t have a budget. I’ve seen the forms, I’ve read about other peoples’ budgets, but I just can’t bring myself to make one for our family. It just seems too overwhelming for me. I think probably my biggest obstacle with the budget is the revolving parts of the budget, such as the electric bill. Do you allow more money in the budget than you think it will take?
We are currently trying to live off of one income, sort of as a trial run to see if it’s possible for me to be a stay at home mom when we have children. I’ve got my paycheck directly deposited into my “secret account” at our bank, so that if we need access to it, it’s not hard to get to, unlike our ING savings account. We want that to be hard to access!
I would love to get a budget going, but I don’t know where to start. What are your favorite budget forms? Any tips?