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I don't track it myself. All I know is I save 70% of net income and I spend the rest. When you're saving off the top like that, why keep track of spending?
I don't even have a monthly budget. I make more than I spend, so I just buy what I need to when I need to. Some months I spend more, some I spend less. I always come out ahead, though. While I'm not as good as BQ there, I still save about 30% of gross income (I think not quite half of net).
So if asked that question in that way: "Do you track your spending against a monthly budget?", my answer would be no. Doesn't mean I have bad spending habits, or have financial difficulties.
We don't track our monthly spending anymore. We have zero debt and every month we pay the bills, max out tax-deferred savings, then put another set amount into taxable investments, the rest comes out to approximately our living expenses. Some months there is plenty left, other months things are a little tighter.
I'm sure we could squeeze a few more dollars if we really budgeted but we're banking way over half our income so just doesn't seem worth bothering.
I just started tracking every dollar I spend on an Excel sheet this month and it has been really helpful.
In June, I overspent by a lot, then created tight budgets for allmy monthly expenses and I am ending this month with double the amount in my account as a surplus than I planning and still made my monthly savings goal and paid extra on my student loans. I'll probably start doing this every month.
meh.
I use Quicken and track my spending, but we really don't have a budget.
Quote:
Originally Posted by slackjaw
We have zero debt and every month we pay the bills, max out tax-deferred savings, then put another set amount into taxable investments, the rest comes out to approximately our living expenses.
I would be really surprised if that many people REALLY track their monthly expenses. I bet a lot of those people that said yes really only have a general idea of spending versus income, but are ahead most months.
I would be really surprised if that many people REALLY track their monthly expenses. I bet a lot of those people that said yes really only have a general idea of spending versus income, but are ahead most months.
Would you like to know what I spent on electricity in July of 1999? Or what I spent on books in December of 2001? Or what I spent on vacation hotel bills in 2002? Or how much room rental income I received for in the year 2007?
I think that half is optimistic. These articles are usually so poorly written and they use whatever as a title to get someone to read at least the first paragraph.
Half of "all" Americans. Does this include the whole population or those who work and earn income?
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