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Need help understanding a budget
Need help understanding a budget
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Jocker
Guest
Mar 11, 2023
12:23 AM
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Hello.
I have some questions about help with understanding a budget. I found this message board and figured you all might be able to help.
I've been on and off trying to do a personal budget since about 2008. I have never been successful in fully implementing one. I know this is the key to gaining control of my money. My wife and I were talking the other night and we want to finally sit down and do this. In short, we face the same problems that many others do, in that we live week to week, frequently come up short, and are always having disagreements and hurt feelings about not having any money.
To start, I have a few reasons that I have not been able to stick to a budget. I'm going to list a few of my problems:
1. I am a very detailed person. I like for things to be insanely organized. I started trying to do the budget in excel around 2008 or so, and I have successfully used it for maybe a few months since then. I have trouble staying with it because I create a budget that is too complicated. I seem to over categorize. I have trouble grouping things together into generalized categories, so I end up with way too many categories. I feel like everything being broken down will help me understand it, but the reality is that it becomes too complicated to just be "simple."
2. Pay variations. I work on an hourly basis. I also get a lot of OT. I'm not going to write a book or go into a page long explanation on this alone, but understand this: My job is guaranteed OT, so much so that it is factored into my budget. I know the correct way to live off of OT pay is to live off of the regular time pay, and then bank the OT. I get that, but that isn't the way I currently am. I would love to get to that point, but it won't happen until I get my budget under control. Since I work varying amounts of hours, my pay can change drastically from week to week. It usually works out to about the same, but if I ever take any time off, it can be hundreds of dollars short. Very frustrating. The other part of the frustration is that I am paid every week, and my wife is paid biweekly. My wife's pay is consistent in that she gets no OT, but she works a set amount of regular time hours.
1. Bills being due at different times of the month. Right now, we have everything dispersed kind of evenly throughout the month. We group certain bills into each week, and try to pay them then. Sometimes I wonder though, would it just be easier to move all due dates to the first of the month. It would avoid the juggling of money to hopefully have enough when something becomes due throughout the month, which is the problem we have now.
4. The fourth thing that bothers me is hard for me to explain, but is related to #3. Since we are paid on a weekly basis, we tend to look at the funds we have for bills throughout the month by the week, and not necessarily by the due dates. Then there is the issue of some months actually having a fifth payday, or a third in my wife's case. For example, if every month was a set amount of days, and the pay came on the exact same days in each month, , due dates and all that would be perfectly on schedule. Since months vary in number of days and it causes due dates to fall at different times within the weeks, sometimes we are short and have to wait a few days until getting paid. I hope that explanation makes some sense.
Any advice on hour to deal with these issues would be great. I really want to do a budget and my wife does as well, but the stuff above is crippling us.
Thanks
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mikeruth
Guest
Mar 11, 2023
12:25 AM
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