After spending most of last week in a state of shock about our spending I spent most of today working on a budget. We’ve never really had a written budget before even though we did have an idea of what bills were due and when. We just didn’t keep track of what else we were using our money on.
I’m not quite ready to post it up yet but it’s getting close. I spoke with my other half and we decided that we would sit down together at the start of each month and create a budget together. Then once a week we will sit down together and reconcile our checkbook together. I figure this way both of us are involved and neither one is pointing fingers at the other. It seems really daunting right now but I know it has to be done if we want to start paying down our debts and gaining an semblance of control.
We’re on biweekly pay, which I absolutely hate for automatic deductions because you never get paid on the same day. Because of this and partly because I’m old fashioned, I’m always writing checks to pay our bills. I don’t think paying our bills on time will be a problem, it’s the self control to stop eating out or going out that will test us. I also need to figure out a way to do our budget…quicken, excel or paper?
I know I want to keep a hand written version in my Filofax since I have it with me everywhere I go and look at it quite often. I just don’t know if I am going to set it up in Quicken yet.