Posted: 02 Sep 2010 05:19 AM PDT
Budgeting was on my mind. Husband and I just spent some time seeking to pare down several of our budget categories due to an unforeseen change in circumstances. An accumulation of funds carefully saved in a few areas was an asset and helped in the making of decisions.
Our budget is of the monthly kind. So much is put aside for food, clothing, car, etc. each month and we work diligently to stay within those boundaries. Normally, this has worked well and given us a plan that needs little tweaking. Usually, we meet once each year to review our projected costs and make any changes needed at that time.
Recently, though, I have been contemplating the budget style recommended by some others well versed in making ends meet. Suggestions to set a new budget every week or when a paycheck arrives provides more flexibility for finding extra cash or trying to meet financial goals. Somehow this has always seemed to require more time and effort and I am not sure how all the budget areas would fare at the end of the year.
However, a major car repair, a broken lawnmower and a non-working dryer, have caused me to reconsider my budgeting strategy. Grateful to have had some extra in the car repair budget our needs for this area were met. But as this was one of the funds we had pared down just recently that empty spot on the page has me wondering if we can get our funds replaced before the next break down. The lawnmower has been limping along all summer but now is in total rebellion and of course that is the other fund that received a major slash! The hot Texas sun makes the dryer the least of my concerns and actually the electric bill has improved nicely.
It has been tempting to think of repurposing some budget categories based on the needs of this moment, but I can't help wondering how this all works out in the end. Ultimately, it would seem to me reworking my expenses will only deceive me for the present and create an endless cycle of living by the "tyranny of the moment."
What do you think? Which budget works best for you?
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