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Thread: Personal budgets

  1. #1
    Senior Member Thor's Avatar
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    Default Personal budgets

    Do you budget your income?
    How do you do it?

    Is your budget laid out in paper(or spreadsheets for some) or you just stuff money in you wallet/purse and use the money until they run out?

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    Quote Originally Posted by Thor View Post
    Do you budget your income?
    How do you do it?

    Is your budget laid out in paper(or spreadsheets for some) or you just stuff money in you wallet/purse and use the money until they run out?
    Leave the money in the bank account with couple hundred of cash in pocket. Pay with credit card wherever accepted to collect Esso Point. However, always live below the mean, never carry a balance on credit cards. Cash is for chinese grocery stores where they only accept cash and debit.

  3. #3
    Senior Member KJ's Avatar
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    Quote Originally Posted by Thor View Post
    Do you budget your income?
    How do you do it?

    Is your budget laid out in paper(or spreadsheets for some) or you just stuff money in you wallet/purse and use the money until they run out?
    I don't keep a budget. I have my paycheck directly deposited into my bank account as most people do. I never carry a balance on my credit card. I'm just cheap. I don't buy things I want all the time, although I do buy myself something nice occasionally. Some months I might spend more than what I bring in my paycheck, but most of the time, my bank account grows. Not to say I have tens of thousands of dollars saved up, but I'm in the black more often than red every month. Using a spreadsheet for your budget is a good idea, but takes too much work. I just watch what I spend on things, (being cheap), since I've been that way my whole life.

  4. #4
    Moderator CrazyT's Avatar
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    20% into saving.
    20% into parents.
    40% into bills.
    10% leave in checking account.
    10% into entertainment (eating out, clubs, bars, what not)
    I would love to change the world, but they won't give me the source code.

  5. #5
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    Quote Originally Posted by KJ View Post
    I don't keep a budget. I have my paycheck directly deposited into my bank account as most people do. I never carry a balance on my credit card. I'm just cheap. I don't buy things I want all the time, although I do buy myself something nice occasionally. Some months I might spend more than what I bring in my paycheck, but most of the time, my bank account grows. Not to say I have tens of thousands of dollars saved up, but I'm in the black more often than red every month. Using a spreadsheet for your budget is a good idea, but takes too much work. I just watch what I spend on things, (being cheap), since I've been that way my whole life.
    I live pretty much the same way all my life and that is not cheap!!!!!
    That is wise and being responsible. Imagine if everyone lives the way you do, there will be no poverty, no financial crises, no foreclosure, no recession, no crimes, ect... The world would be a much better place. That is the main reason why I don't feel sorry for poor people who live in first world country like US/Canada/Australia. It's their lifestyle that lead them to where they are.

  6. #6
    Senior Member Guo Xiang's Avatar
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    I budget it, but I don't watch the numbers. So it's like a half-budget.
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  7. #7
    Senior Member Yeung Gor's Avatar
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    I total up all my bills for the month, subtract it from how much I earn a month, then divide what I have left over by 31 (days), and that would be my spending money for a day. I don't want to be too strict on my budget but this give me an idea how much I am under or over in my spending... if I spend more than what I should in that day, I make up the difference the next day. It keeps my money in balance.

  8. #8
    Senior Member blueberry's Avatar
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    I don't really have a budget. But I do know roughly what I usually spend in one month...so if this month I overspent, next month will be less.

    I never can keep spreadsheet....too lazy for that.

    I also don't carry a lot of cash with me. I prefer to use credit card for everything possible. But I don't carry balance on any of my CCs. I never buy anything using my CC that I won't buy with cash. So in my life, CC = cash (but pay later).

  9. #9
    Senior Member GuGu's Avatar
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    20% goes to this secret savings account no one knows about. even i forget i have it sometimes if i don't get a quarterly reminder in my email of what my balance is. this account is top secret and can never be touched until i retire. i've had this account since i started working 6 years ago.

    10% goes to my not so secret savings account, which i keep for emergencies. also untouched for 6 years now.

    10% goes to my 'special needs' savings account, which i just emptied out to pay for my mom's car! aish!

    40% goes to my checking account for bills.

    20% is for entertainment.

    that's my life, nothing much. and i don't have to really budget anything. cause all my bills are pretty much set every month to about the same, it totals around 30-35% of my pay, so that 40% covers it. i just use that 20% every month and i'm happy. ^_^

  10. #10
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    20% goes to stocks
    80% goes to my spending

    but in my spending

    10% goes to food
    10% goes to entertainment + clothing + necessities
    25% goes to bill

    so i guess 35% is savings
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    As expected, asians tend to save up for rainy days with no balance on credit cards which is good for them and also good for the asian reputation. By the ways, credit cards are good when you don't carry a balance. It's a win-win situation between the the credit cards carriers and the banks/companies. You are earning the reward points while the banks/companies make money from retail stores. Why would anyone want to use cash if they can pay it with credit cards and earning reward points?

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    Quote Originally Posted by Trien Chieu View Post
    As expected, asians tend to save up for rainy days with no balance on credit cards which is good for them and also good for the asian reputation. By the ways, credit cards are good when you don't carry a balance. It's a win-win situation between the the credit cards carriers and the banks/companies. You are earning the reward points while the banks/companies make money from retail stores. Why would anyone want to use cash if they can pay it with credit cards and earning reward points?
    can u please leave asians alone!?!?!?!?!
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  13. #13
    Senior Member GuGu's Avatar
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    Quote Originally Posted by Trien Chieu View Post
    As expected, asians tend to save up for rainy days with no balance on credit cards which is good for them and also good for the asian reputation. By the ways, credit cards are good when you don't carry a balance. It's a win-win situation between the the credit cards carriers and the banks/companies. You are earning the reward points while the banks/companies make money from retail stores. Why would anyone want to use cash if they can pay it with credit cards and earning reward points?
    only the responsible ones do it. and it's not just the asians, any race has their good and bad. i know many asians who live way beyond what they should be living and are on the edge of bankruptcy. don't generalize a whole race just because of what a few of the people do here. no one likes it, even if what you're saying about asian is a good thing.

  14. #14
    Senior Member Exodus's Avatar
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    don't really keep a budget but i do know how much fixed expenses i have a month. After the global downturn i have been saving much more.

  15. #15
    Senior Member Han Solo's Avatar
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    I never have the discipline for a budget- i seldom shop, but when i do, i just buy whatever that i'm wanted.

    I never have the discipline to do the percentage savings like you guys, whenever my cheque account contains too much $$, i just transfer it into my saving account.

    I guess that's why i'm so poor.

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    Senior Member milKBoi's Avatar
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    Yeah for me its too hard to keep any budget going.

    19% saving
    20% food
    20% clothing items
    20% leisure/outings
    7.5% travel exp
    the remaining i dont know where it goes.
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    I pay off my bills first. Whatever money is left, which usually isn't much, I spend on fuel and food.

  18. #18
    Senior Member expression's Avatar
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    There are the almost fixed monthly expenses like gas. Then I take out a small amount of monthly cash as allowance to buy/spend whatever I like for the month. The rest goes to savings.

    The #1 way to save is always to live with family/relatives. Hey you get to develop bonds too.
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  19. #19
    Senior Member jadebunny9's Avatar
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    I don't really have a personal budget since I don't even have a real steady source of income to begin with. Basically I just make sure that I make more than I spend. When I do have a regular source of income, I'm planning on a large portion of it to go into savings that I won't touch until the time comes. Though I am thinking of creating an account just for food...



    can u please leave asians alone!?!?!?!?!
    Word.

  20. #20
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    I save about $1500 a month. Here's the breakdown

    $4800 (2 paychecks)
    -1300 rent + parking space
    - 200 gas
    - 100 cable tv/dsl
    - 25 utilities
    - 75 cellphone
    - 600 food ($20 x 30 days)
    -1000 misc expenses
    ------------------
    $1500

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