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Old 04-26-2005, 11:57 PM
kateshort kateshort is offline
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First things first-- you need to track your actual spending to see where and how much you are spending. It's silly to budget $100 for gas if you actually spend only $75 per month, just as it's silly to budget $100 for food if you really spend $150 every month.

Also make sure that you track your cash. Not necessarily tracking what you spend your cash on (though that is a good idea), but tracking how much / how often you get money out of the ATM machine.

Direct deposit of paychecks is a good thing.

I use Quicken and Excel to track my spending. The basic Quicken software will let you assign categories like Auto repairs, School loans, Clothing, etc. I then copy all of one month's data into Excel, so I can track monthly highs and lows in spending at a glance. Some versions of Quicken let you set budget goals and can warn you when you're hitting your spending limits.

Checking your spending every week or every two weeks might help-- set aside an evening or specific time during the weekend to sit down and pay bills and check your spending.
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