How much do you spend in a month? Living with a Budget

Filling in the information and gaps can be an eye opener. This week, we`re figuring out how much you actually spend in a month, as compared to last week`s estimates of what we think we spend. Here`s advice from Busey Bank`s Susan Abbott. AFTER FILLING OUT THE ESTIMATE COLUMN OF THE WORKSHEET YOU CAN FIND ON OUR WEBSITE.. WHAT DO YOU DO NEXT? Susan Abbott says use paychecks to fill in the actual income portion. use payroll deductions, bank statements, receipts, and check register to fill in actual spending. AS YOU FILL IN THE BLANKS.. WHAT COMES TO MIND FOR MOST PEOPLE AS THEY FILL OUT THE ACTUAL COLUMNS Actual Spending Habits in a budget Gaps between spending/budgeting Cash expenditures Difference between income & outgo WHAT DO YOU PUT IN THE BUDGET COLUMN? Record target numbers in budget Compare est. & actual, adjust Set money saving goals WHAT`S YOUR ADVICE ON FIXING YOUR BUDGET AND STICKING WITH IT? don`t try to fit your expenses into someone else`s categories. tailor categories to fit your own situation.. think of the budget as a tool for managing money.. to get out of debt and save.. not a financial diet or punishment. NEXT WEEK`S ASSIGNMENT? save every receipt.. write down every dime you spend. jh