Those of you that have set budgets etc

[Hobby2014]

How do you organise everything?

I have just worked out total incomings, total outgoings, divided it up so I have monthly figures.

I've the added on allowances for me, DH and DS - otherwise we spoil DS rotten and waste too much money on stuff we don't need. Have also set aside family money so we can have a couple of days out a month or if we need anything for the home and set aside a small amount to save.

Do you withdraw the money for allowances at the beginning of each month and not touch your cards throughout the month and leave all other money in your account?

How do you keep track on the amounts you've kept aside for variable things like petrol or whatever? Do you withdraw it all and divide it all up or keep it all in the bank?

I've added up all the once a year bills like car tax, insurance & mot, one of the water bills etc and have a monthly amount for these. Do you move these to a savings account/withdraw or whatever and use when needed or do you just keep them in your normal bank accounts?

DH for example needs £14 a day for travel, and wants £10 a day for lunch/coffees/paper. Would you withdraw the money on a Monday or would you just use your card each day? How would he keep an eye on it or would it just be rough amounts?

I might sound totally stupid but I've always worked FT and spent whatever I've wanted, and so has DH. I've come to the end of my paid ML and am having the 3 months unpaid and going back to work in August on just a few hours so need to get into a different mindset and get organised. I need us both to realise we can't waste so much money and if there's a budget we have to stick to it.

What works best for you?

I use an app on my smart phone and just log purchases etc. I tend to round up and do at the end of the day. I'd get your dh to do the same so he doesn't go over either. That way you don't need to get complicated with accounts for bills etc as the money will just be there.
I have had to be a bit of a pain with dh about it as he forgets/over spends so be prepared to slot into that role of he's not as keen

I also mentally allocate an amount for things each month eg 400 on food = 100 a week. We normally spend 60 on big shop which gives flex for takeaway Etc but I know when we're near 100 mentally then just stop spending that week. Same with petrol/days out. We've been tight budgeting for 3 years though so I'm well in the habit. 10 for lunch etc is a lot - can he not take a packed lunch? You could save loads!

Would his travel not be more reasonable if he bought it weekly/monthly? That would make it easier for you to budget.

£10 a day for lunches and coffees is mad. Presumably you have a coffee machine at home? buy a decent thermal cup (tk maxx have good ones) and get him to fill up that on way in morning. Take packed lunch in every other day? This way you can cut that from £50 a week to £20?

Chickenandpenguin what is the app called that you use? Sounds like a brilliant idea

You Need A Budget!!

Seriously Google YNAB - I started using it last month and it's revolutionised our joint acc!

YNAB! Track everything here through phone app, set budget each month. Check it matches my bank account really easily and can see what's remaining to go out so we don't spend the money left because we can see how the remaining balance is allocated. It means we can also spend on credit or debit or cash as we wish and see what's remaining easily whichever place it sits.

I have a savings account which I transfer the month's allocation for the less frequent things like tv licence, insurances and for rainy day funds - eg I save a bit each month towards household maintenance and car repairs. If those payments come up I just then transfer the right amount to my current account.

I also try to have all set bills go out within the first week of the month so the remainder is the more flexible spending so I don't accidentally spend electric bill money on groceries etc.

YNAB is awesome!

YNAB. Absolutely :)

I use YNAB also its brilliant .. you can get amonths trial,,(and they dont take any of your details so it really is free) . but its worth paying for has totally changed my spending and saving. Because it I am no longer in debt for the first time in years (and no longer have my head inthe sand regarding money)

Another vote for YNAB, it's finally helped me stick to my budget and save some money

2 current accounts is the easiest way, 1 account has all the wages go into it, then a set amount goes out to the 2nd current account which is for monthly things, petrol, food, toiletries, birthdays, meals out, all money in bill account(first current account) is for direct debits, yearly bills and savings also come out of this one too, that way if there;s no money left in the 2nd current account you can;t have whatever you want or need to wait til the next month to be able to afford to buy it, you can easily leave the 1st current account card at home or another safe place so that you can't use it!! it works for me and i've done it this way for years now and i have it set up by transfer for the same amount every month and can increase as and when i need too!!

I just use an app called 'spending'on my iPhone - sounds like it does what ynab does? It's free, has a brown wallet as a symbol and is one of the first to come up when you search on budget money.
I also have a free spreadsheet from moneysavingexpert where I sorted out our budget - you put in all in and outs then you can see exactly where you can save etc. I'd find that too and run them together if you don't want to spend on ynab. I use the spreadsheet for s general overview and only update if salary or bills change. Then app to manage month to month

£10 a DAY? That's insane...

I'm self employed and money trickles in in fits and starts, no 'beginning of the month' for me.

We have a joint account for bills and transfer a set amount into that plus a bit extra to save, then it goes automatically by dd.

For the rest, YNAB is fab!

Spending tracker is a free app that does what it says. It's free and don't have to have add ons.
We have joint accounts, 1 for bills & savings, dhs pay, 1 for daily spends, food etc, my pay.

Not being rude but your oh needs a reality check £50 for food for work. As you said you can't waste that much money.