Photo by: laurakgibbs

A simple question:

A while ago I stopped by Ask500.com and threw out a very simple question to all the world:

Do you follow a budget?

That’s all I asked – no qualifiers. If someone felt like they followed a budget or not they could respond Yes or No.

A little under 130 people answered, so it’s not the worlds biggest sample size, but it was fun to watch answers pop up around the world.

You can see the results here:

I believe the question is “closed” on the site, but please drop your own answer in the comments.

Do you follow a budget?

Photo by: Darby Elizabeth Photography

Stacy and Erik have recently finished their first full month of budgeting and were helpful enough to share some of their thoughts with us:

How has budgeting helped you so far?

I love that budgeting keeps us accountable for where we spend our money. I am a compulsive buyer by nature, so knowing that I have a limit and that I have to enter that number into the budget has really helped.

What’s the toughest part of budgeting?

The toughest part is when you overspend in one portion and you have to adjust the budget and take money from something else.

Are you making better buying decisions because of your budget?

Yes! It helps to reign in my compulsive buying nature as I step back and say, “Do I really need this?” or “What is more important to me? A candy bar now or Halloween candy later?”

Any tips for “sticking with it?”

Just do it! It takes time, but not that much, and it is so worth the time for that peace of mind. I have my GoogleDoc open on my computer all the time. Every time before I go to the store for groceries I check to see how much we’ve budgeted so I am sure that I can stay within the limit.

What advice would you give a first time budget-er?

It’s hard to give advice when we are still in the learning stages and I still consider myself a first time budget-er. But I would say be really vigilant especially that first month.

It took us 3 months to make it through ONE full month of keeping it updated. That first month is the hardest I think. If you are like me, you only have a vague idea on how much you actually spend on groceries, gas, etc. So keeping track that first month you may be suprised at what you find.

It was much easier to “cut” back and re-adjust things when we knew how much we were actually spending. It’s hard to be frugal if you don’t know what you spend. It’s become a game for us. Can we spend less on our grocery bill this month than we did last month? We’ve come up with different activities to do for dates so we can cut back on the cost of eating out every week. It’s been fun.

Photo by: picsbycam

Once upon a time…

A woman and her husband discovered their favorite band (ever!) was in town. It was a chart-topping-mainstream-band so they charged quite a bit for their concerts.

The couple spent a long time thinking hard about the cost of the concert, debating the pros and cons, and worrying about what it would mean for their bills this month if they went. In the end they went and paid a decent chunk of money and felt guilty (and a little tired), but still had some fun.

In the same town…

Another woman and her husband wanted to go see the same band, but they followed a budget.

They looked at their budget and in less than a minute decided they could afford to go. Their “Fun” category didn’t quite have enough to cover the entire evening (they hadn’t planned on the band being in town), so they moved some funds from something they valued less than the concert (a small but growing “new couch” fund). So they went and paid a decent chunk of money, and had a great time, created a memory together – and didn’t feel guilty or worried at all.

And they rocked happily ever after.

The End