So I know this topic isn't very Fastlane, but I think that every one of us needs to know how to follow a household budget -- or else we might get rich with our Fastlane plans, but we'll end up pissing it all away if we're not careful in the end.
A few months ago, I began to get frustrated that our household budget never seemed to balance. It seemed like a constant that we would spend more than we took in. This was a problem, because our fixed expenses are fairly high, and we don't have a lot of expendable income -- so I recognized that we needed to put a choke chain on our spending pronto.
In order to solve this problem, I came up with an ingenious system that actually worked great to cut our grocery bill, shopping, etc quickly. I posted a chart on our fridge that has areas of spending that we can control (No mortgage, or auto loan, etc) -- for things like eating out, groceries, shopping, etc. I put very reasonable amounts on these areas and it started to work instantly -- We would mark on the chart every day what we spent, and when we hit a certain level in that area we would stop for the month. My genius plan was off to a great start!
Then I started to notice a trend as I looked back at our monthly credit card bills for the year. It seemed like there was always something that came out of the blue and ruined our budget for each month. Examples are in June I needed $1200 in dental work, and in July car problems cost us a random $250, then in August I need another $900 in dental work, and then in September -- we have to attend a wedding which will be a random $2000. I don't need to remind anybody what happens in December, which ruins almost every household budget in the world -- And it doesn't help that my wife's birthday is the DAY AFTER CHRISTMAS! ROFL...
Please share with me/others your tips for creating, and sticking to a household budget. I know there must be some people out there who are able to stick to a balanced budget every month, so let's hear your secrets to success!
Thanks,
- Hakrjak:smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4:
A few months ago, I began to get frustrated that our household budget never seemed to balance. It seemed like a constant that we would spend more than we took in. This was a problem, because our fixed expenses are fairly high, and we don't have a lot of expendable income -- so I recognized that we needed to put a choke chain on our spending pronto.
In order to solve this problem, I came up with an ingenious system that actually worked great to cut our grocery bill, shopping, etc quickly. I posted a chart on our fridge that has areas of spending that we can control (No mortgage, or auto loan, etc) -- for things like eating out, groceries, shopping, etc. I put very reasonable amounts on these areas and it started to work instantly -- We would mark on the chart every day what we spent, and when we hit a certain level in that area we would stop for the month. My genius plan was off to a great start!
Then I started to notice a trend as I looked back at our monthly credit card bills for the year. It seemed like there was always something that came out of the blue and ruined our budget for each month. Examples are in June I needed $1200 in dental work, and in July car problems cost us a random $250, then in August I need another $900 in dental work, and then in September -- we have to attend a wedding which will be a random $2000. I don't need to remind anybody what happens in December, which ruins almost every household budget in the world -- And it doesn't help that my wife's birthday is the DAY AFTER CHRISTMAS! ROFL...
Please share with me/others your tips for creating, and sticking to a household budget. I know there must be some people out there who are able to stick to a balanced budget every month, so let's hear your secrets to success!
Thanks,
- Hakrjak:smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4::smx4:
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today