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Man, budgeting is a bear!

February 15th, 2009 at 09:02 am

The good news is that Quickenonline FINALLY co-operated in accepting the CC data from my CU. I re-entered the login data and it finally started working, so now I have four months of CC data to work with. So it will pick up things like periodic charges for bridge tolls (it stinks having to commute over a toll bridge!) and anything else that goes on the CC and needs to be budgeted.

I guess it isn't telling me anything that I didn't already know, that our excess spending is manifested in a rising CC balance over the last six months or so. The trick I guess is annualizing things like auto maintenance and Christmas expenses.

And I have basically stopped using the CC, converting to cash for the occasional dining out so that I feel the pain, and it works! But my wife has not slowed down as much as I had thought. Arggghhh!!

Oh well, back at it.

7 Responses to “Man, budgeting is a bear!”

  1. KellyB Says:

    You are right - annualizing normal but not monthly type expenses is a BIG key to getting credit cards under control. I have a "Life Happens" savings account for these types of bills - vacation, medical, Christmas, Homeowners fees, Home maintenance, car maintenance/repair, and any quarterly/ semi-annual, or annual bills (tax prep, water, trash, sewer, etc.) This account has made a HUGE difference in how I feel about these expenses...they used to sneak up on me, and blow out my monthly budget. Now I know when they are coming, I have saved for it, and it's no big deal to simply transfer the correct amount to my checking and pay them as they happen. I highly recommend it.

  2. ralph Says:

    Yeah, KellyB, I am actually glad that on our last refinance they started collecting escrow. It was just too nerve-wracking making sure I had quarterly tax money and yearly insurance money available!

  3. Petunia Says:

    It can be a slow process. . . but every step gets you closer to your goal. Keep up the good work!

  4. Amber Says:

    I actually stop carrying my cc and opened a misc account as well

  5. homebody Says:

    Ralph, have you tried breaking down??? Maybe that would get to your wife. I know it would me. Hang in there buddy!

  6. scfr Says:

    No, setting up a budget certainly doesn't happen overnight.

    Don't forget the once-a-year stuff like car license fees, or the twice-a-year stuff like homeowner's and car insurance.

    Hang in there!

  7. Ralph Says:

    Thanks for making me laugh, homebody. You are my rock here! I'll keep that in mind! I have already tried going ballistic, and that gets me nowhere.

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