Help me with my budgeting...?

[O2BNormal]

We're over-spending. Not by much, but it can't carry on, I don't like dipping into savings just to pay the regular stuff.

I've set out what I think we need to spend and it makes us look quite comfortable, so what are the obvious things I've forgotten or underestimated.

I've spread costs across the year, the idea being that if we don't spend it this month, it can go in the pot for next month and I've got:

Supermarket
Bills & Insurances paid by DD
Fares

Children's clubs and school trips
Days/meals out
Haircuts
Sport (adults)
Cars
Holiday
Birthdays/Christmas and special occasions
Clothes
Home maintenance

You seem to have most things covered however when I started on my budget I kept a spending diary for a few months...and was amazed at what it uncovered!! Track every penny and you'll soon see where you're going over and make arrangements to cut back or up the relevant pot accordingly. Good luck!

I'd recommend downloading a free copy of MS Money... here For a month or two, keep track of all your expenditure and assign it to a category. After a month you'll be able to run off a report and see what you're typically spending.

The one I think you've forgotten from your list is 'Cashpoint Withdrawals'. Big regular items are easy to budget but smaller cash purchases... £1 here and £5 there can mean money trickles away really quickly. I budget a strict £40/week for the cashpoint and, if I've nothing left in my purse after 5 days, just stop spending.

Send me an email to [email protected]. I'll email the excel spreadsheet that I have set up for myself and just by putting figures into each box when you know direct bebits etc are coming out each month you can see exactly where you are and more importantly where your going to be in future especially when you add all the little switch transactions or atm withdrawls.