how do you budget your money?

Right now, my partner and I have very few 'necessary' expenses outside of food. We're staying with a friend (who we also happen to work for) who is helping us get back on our feet after a hard out-of-state move, so currently we have some freedom with our budget. Right now, roughly half of each paycheck (rounding -down- to the nearest hundred) goes into a separate savings account that has special rules not to be touched unless it's an emergency or for a large, important expense... like a down payment on a house or something. With the half that's left, we use to get food and pay any other expenses we happen to have, but try to make sure we always have at least a couple hundred as a buffer in case unexpected things happen (which they often do). However, in about a month from now it's going to get VERY tight for us, since we'll be moving in to our own apartment and the rent on it is a bit more than we can really comfortably afford with our current jobs. At least at first, we won't be able to put anything into the savings account for a while. I've been doing up our projected budgeting already, and we'll barely break even. What's basically going to happen is this: Rent payment goes out first and foremost. Electricity and phone/net/tv (the bills that aren't included in the rent) will go on the credit card (the ONLY thing we will use the credit card for to avoid overspending and gong into debt) which will be paid promptly in order to build a positive credit score. After paying off the credit card, we have just enough left over to get groceries for the two of us for the rest of the month, and not really anything left to go into savings or make any kind of frivolous expenditures. We don't have a car (the valley has an EXCELLENT public bus system - yay college towns!) so we don't have to worry about those kinds of expenses, and we don't have insurance or doctors or anything now (I did mention we were poor, right? lol) But even still we'll have to pinch every penny we make and try and stretch it as far as it will go... The real important key is keeping an eye on your spending - keep records of everything you spend and check it against your bank balance as often as you can - daily if you have a bank that lets you do online banking. Look very closely at what you spend money on, how much, and where you can afford to spend less (separate Needs from Wants: luxuries like movies and music may have to take a back seat to saving up for more important future expenses). I don't have a certain amount that I say, "this is how much I'm allowed to spend", I simply pay very close attention to where my money goes, and where I can 'do without'. But it really depends on what kind of money you're making. If you make a lot, you can still afford to get some special things for yourself while still putting some back in savings.

I would recommend you have 2 bank accounts. Every month when you get paid, you draw the wanted-to-be-saved amount to 1 bank account and you promise yourself you won't use its money no matter what. Then for the remaining money, you could spend it however you want. I find this method the most effective for me. It's hard at first, but once you get used to it, it's nothing!

budgeting money? hm, i also still learning about this matter but something sure that in every month, i already knowing what kind post which should be filled. so definetely my cash will go in there firstly before going to another kind of expenditure

I think I'm good at it, I only buy what I really need. Sometimes, I don't really spent money on stuffs that I know I could get for free.. With the food crisis we're experiencing right now, we should be more careful in spending cash and try to save money while we can..

I am not sure about budgeting because I have no money to budget lol! But I would suggest maybe having a few envelopes with different labels (like rent, gas, groceries, entertainment, ect.) and seperating the money that way. Like having the same amount in each envelope. Whatever you don't use by the end of the month, split it into the envelopes for stuff that need to be paid.

Im too bad at savings! I need to learn it somehow! Im really bad when it comes to money, savings, budget and stuff. My dad is very good at money management. He writes down his expenses on daily basis. He has his accounts intact and very well maintained. However i recently made up my mind to save some percent of my salary for the future :) Also, since childhood i had a big dream of helping the poor and the needy. So, since my 1st salary, I have made a habit of saving a small amount for a good cause. It will be used for a good cause once i feel that i have huge/enough amount saved for it :) Hope i will be able to take better steps in money management soon. Good luck to you on that too!

i don't buy stuffs that i don't really need. i buy in bulk than by pieces as much as possible i'll drive at the right speed or if its downhill turn the gear in neutral i buy food that i can consume not investing to gadgets..but real state..

I don't really make a list for my daily budget. What i do is that whenever i get my payout at the end of every month, I will set aside first the money to save for the month so that it will not be spent along the way. This is a good practice. Then pay all those commitments which i need to pay for that month and use whatever money that is left in the account.