girlnextdoor

financial discussions with the girl next door

My First Budget November 14, 2008

Filed under: Uncategorized — girlnextdoorfinance @ 8:28 am
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Since discovering my interest in personal finance about a year ago, I have been a casual saver. I’ve been making regular contributions to my savings, but I have still never had reason to create a budget or give myself limits, other than spending less than I earn.
I would like to go to grad school in fall of 2010, so I need to start getting serious about saving money! I just set a goal to save $4000 by 01 May 2009. To start “practicing” for this goal, last week I set a budget for my upcoming paycheck (received today). This is the first zero-based budget I have ever created. I didn’t actually set up a lot of specific categories, but I did list bill payments, contributions to savings, a few other misc. things I knew I would want to pay from this check, and then listed the rest as “Other,” to be spent on anything that wasn’t specifically covered. I made my budget in a Word document (since it only had a few things listed), and I created an Excel spreadsheet for tracking contributions toward my $4000 savings goal. We’ll see how this works out!

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One Response to “My First Budget”

  1. richard Says:

    Nice blog, I like it. good luck with it.


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