3 Reasons Why Your Budget Is a Mess

[@adventuresingoatfarming6754]

Being paid bimonthly makes it harder to budget. The mid month payday contains the overtime. And temptation is strong. And I’m weak. But what I think is the wise thing I did is to automatically have a hundred dollars taken out of my paycheck to go directly into the emergency fund every paycheck. If I don’t see it I won’t spend it.

[@username9999]

We get paychecks every week. All the paychecks recieved in March go into savings to be spent in April. At the end of the month we know how much we can spend in April, make the budget and then transfer to checking.

[@kaelaleedaley]

​@@username9999 EXACTLY THIS! We are paid both on the 3rd week of the month and weekly recieve fuel money pay - all in varying amounts! This is our only income and the best way to budget for us it is to work from last months' income and live well below our means until the next payday. With a variable income, this seemed to be the only way to us xx

[@alqoshgirl]

Not really. You still know what you’re going to make don’t you. On the app you can see what your expected to get and what you are going to spend. Stick to your budget you planned out. It’s that simple

[@kaelaleedaley]

@@alqoshgirl People's income is not necessarily fixed and can vary greatly from month to month. Outgoings can largely be fixed (unless overspending/ emergency or during a time like this where price rises are happening so frequently) and can then form the basis of a 'basics' budget where you plan to live well below your means. You can usually find out or work out your pay, even when working flexibly by asking a manager (or checking your working capital if self-employed) how many hours/days have been worked since payday and using your hourly pay rate to roughly calculate before you recieve a payslip. This us something my Husband does often during the middle of our pay month and the managers are happy to help. Our income can vary wildly from £700 per month, up to £1,200 per month during busy seasons xx

[@mage7603]

I’ve had friends reach out to me talking about finances and how they live is terrifying. It’s insane what certain people define as needs. 😬

[@abbyk8mc]

I like the idea of the monthly expenses! I’ve been trying to figure out a way to include those as line items, and I’m going to start doing that on EveryDollar for this next time!

[@pamm99]

Thanks, Rachel! A couple of things that help me are as follows. For things that come up once a year but that I don’t have to save up for ( AAA renewal, auto registration and inspection) I leave in the budget as line items, but I put the month they are due in parentheses next to them so I always know when they are coming. For things that I pay once a year, but that I DO need to save for, I have a separate checking account. It’s my sinking fund. I put away 1/12 of the payment every month in that account and keep track of the total at the back of the register. Then when something comes due, like homeowners insurance, or HOA dues, I just move the money to my regular checking account and pay it! That really reduces stress!

[@Helena_from_Sweden]

Thank you for great advices 😍! I’m just in the beginning of my money & budget journey and have a lot to learn. I’m loving every step of it. Love from Helena in Sweden 🌸

[@dustyrose7650]

I really enjoy watching Rachel. I love the voice and sincerity.

[@lindadorman2869]

I understand the "four walls" are needs and not wants but where does health insurance or out-of-pocket medical/dental/vision costs come into play? I think going without medical coverage, skipping dental appointments or not being able to buy contact lenses is risky - those expenses seem like needs to me as well.

[@Dreamingbigbudgets]

Good question.

[@kj7653]

All my insurance together costs more than my mortgage. Insurance for most people is a necessary fifth wall.

[@sobeliever1638]

Those would go in of course.

[@katyedwards3935]

I'm a part-time hourly associate who gets paid twice a month with a flexible income and don't know how to do a budget given my small income. I'm finishing up FPU this Sunday and I know they taught us how to do so in class, I just don't know where to begin. On top of this, I live with my dad and he pays for the major things. I do however pay the bills that are addressed to me and for my glasses, prescriptions and co-pays and sparingly use my credit card, paying it off each and every time I do.

[@candy2325]

I reevaluate my budget on a monthly basis and will eliminate a category or just condense it because I will look at my tracker and notice a pattern with my spending in a specific category and see if that category can be paused, condensed with another category or just outright eliminated. Also, I treat my debt payments as a bill and that is a line item included with my bills when I write it down as well as my savings.

[@melaniereynders]

I guess I’m an old person too because I talk to my friends on Marco Polo all the time 😂 and we’ve totally talked about grocery budgets. One thing I was surprised by was how much less my vegan friend spends on groceries.

[@stevenporter863]

Easier way instead of constantly adjusting for events or the season is 1/12 of total. Example: $2,400 annual insurance instead of a surprise big amount one month just budget $200 a month. That gives a more realistic view of finances anyway.

[@ednaramos727]

Yes! Sinking funds help me save for those bigger items/ events

[@candy2325]

Yea I agree. Rachel can afford to do those miscellaneous budgets once a month, but for others having a sinking fund is wicked important. I have one for car maintenance and I definitely don’t want a surprise bill for that and not be prepared 😂

[@rg-mi5hh]

No spend Jan. sounds okay if there wasn't inflating going on. We would rather keep stocked up while prices are lower or sale items. Sounds good when things stablize. Also, you could miss out on stocking up on good food deals with no spend months. Right now, it doesn't make sense to us. Maybe a no spend month after inflation with the except of good food sales. Food sales are how we are able to get groceries with this going on.

[@3roachkidsdhe]

I don’t know if stocking up on food is considered not sticking to no spend month. I agree with you

[@terawoodruff3455]

Weren’t the original 4 Wally’s of the budget food, shelter, clothing and transportation?

[@karinaheywood1102]

I’m still learning. But the “4 walls” isn’t living. It’s surviving. I’ve never taken a fancy vacation or bought the latest technology. But if my kid wants to go to the trampoline park on the weekend, I’m not going to say no. Perhaps thats where my problems lay. I want to prepare financially for the future but in this economy, all the sacrifices we make now, may not even pay off in the future. It all seems so moot. 😢

[@diggernash1]

Without paying for wants, I would not go to work. There is nothing else that motivates me to expend effort beyond my pension.

[@stevenbaxter5601]

One comment stated. They don't know where to start after FPU. The key is to ..... Start! That person may not see this but it may help someone.

[@archeryelkhunter]

I use and know people that use Marco Polo in our 20’s and below