Comments on: A Better Way to Budget?

By: Personal Finance Roundup: How Much Should I Save for Retirement?

Personal Finance Roundup: How Much Should I Save for Retirement? — Fri, 26 Aug 2011 02:54:35 +0000

[...] [...]

By: Guest Post on Budgeting at Out of Your Rut | Provident Planning

Guest Post on Budgeting at Out of Your Rut | Provident Planning — Thu, 17 Mar 2011 22:16:50 +0000

[...] at Out of Your Rut just published a guest post I wrote for him called “A Better Way to Budget?“. I won’t be posting today, so you can check that out if you’d like. I’ll [...]

By: Khaleef @ KNS Financial

Khaleef @ KNS Financial — Thu, 03 Jun 2010 21:05:21 +0000

I have never seen someone take a gradual approach to reduce spending. This is a very good idea for someone who isn’t in a dire situation!
.-= Khaleef @ KNS Financial´s last blog ..What to Look for When Choosing a Career – ~Choosing between money and happiness =-.

By: Anton Willard

Anton Willard — Thu, 27 May 2010 01:35:47 +0000

Incredibly awesome article. Honestly.

By: A post Dow micro-crash Roundup » JoeTaxpayer

A post Dow micro-crash Roundup » JoeTaxpayer — Sun, 16 May 2010 12:04:08 +0000

[...] what they are calling whatever happened? This week we start with a Guest post at Out of Your Rut, A better way to budget. I like the idea of first tracking your spending to have a baseline from which to progress. Read [...]

By: Paul Williams

Paul Williams — Thu, 13 May 2010 02:38:08 +0000

Thanks for your comment, Everyday Tips! You're right about fixating on drastic changes. The pain from making a major cut to your budget sticks with you a lot longer than the slight pain that comes from smaller, gradual cuts. .-= Paul Williams´s last blog ..Guest Post on Budgeting at Out of Your Rut =-.

By: Everyday Tips

Everyday Tips — Thu, 13 May 2010 01:29:43 +0000

That was a very interesting post. I never thought about adjusting my budget gradually over time. I guess it is kind of like going on a diet. You are usually a happier person eliminating one bad thing you eat at a time as oppossed to cutting out all the junk food you eat at once.

The key is, I think when you are making drastic change, you tend to fixate. I think it is a great idea to apply the principle of taking small steps to your budget also.

Thanks for making me think!
.-= Everyday Tips´s last blog ..What Are You Saving For, Besides Retirement? =-.

By: Paul Williams

Paul Williams — Wed, 12 May 2010 16:56:54 +0000

@Vitaeus: Eating out is definitely one area where it’s easy to overspend. My wife and I have found that we can enjoy our meals just as much by trying to recreate the restaurant dishes at home. We both enjoy cooking though, so this is an easy way to spend less for us.

@Donna: It sounds like your son is getting on the right track. Just knowing exactly what you’re spending is often a great enough motivator to start cutting back. We realize how much we’re spending on different areas and can consider whether it’s necessary or even enjoyable.

@Michael: Thanks for sharing your example. Making up a budget without looking at current spending could create some drastic mistakes – especially if you cut back on an area that has a high ROI. Taking the time to look at current spending and then analyze each area separately has much more potential for success.
.-= Paul Williams´s last blog ..Guest Post on Budgeting at Out of Your Rut =-.

By: Michael Covington

Michael Covington — Wed, 12 May 2010 13:47:28 +0000

That’s exactly the way to do it, and it’s what anybody would do if asked to develop a budget for, say, a department of a business. First measure what is being spent now, and then make gradual changes.

By: Donna

Donna — Wed, 12 May 2010 12:23:36 +0000

This is what I just used to help my youngest son with his budget. His major problem was inattention to what he was spending and knowing his true income (it varies weekly). I told him knowledge is power and knowing is growing. I hope it works.