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September 18, 2007

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This is so in line with what I've been doing the last two weeks that it's almost the perfect recap of my plan so far. I'd say the steps are right on the money up through the redirect the waste step. (Which is where I'm currently at right now...aggressively finding places to redistribute my income and posessions to reduce the debt.) It just so happens that I have a very recent article posted describing some advantages of making our first budget that we realized when following these steps.

Greetings-

Great article, easy to read and understand. Recently have I begun my journey of budgeting. This is my second month. So, I am tweaking it as I move forward.

I use Google Docs. I keep the receipts and input them.

Cheers
RV

This is a great post. I mean I read about budget this and budget that all the time and like to tell other people how to budget their money, but having so much difficulties on my own.
Just last week. I totally up all of my transactions from my debit card and it totaled $2.49. This is where it went: 3 orders to amazon, wholefoods (aka whole check), Kids footlocker, Barnes and noble, $33 from mailing back things that I brought on line and no longer wanted...the list goes on.
The thing is I know better than this...

I earn minimum wage and I'm paying $300/mo in debt service. I don't think there is any "fix" for my budget.

We practice "reverse budgeting". We save automatically into several different accounts: emergency, college for kids, retirement, prepay for the next car etc.

What's left is what we live on. I've heard others describe it as "paying yourself first". Works for us and is quite simple. Although obviously you have to have a certain level of income.

So you agree it wouldn't work on minimum wage?

Minimum Wage,
It's true, it's hard to make a budget work when there isn't enough money to make a budget with. Again the formula is I >_ E+D (Your income must be equal or greater than your expenses plus your debts). If you are not able to do this, then I agree, budgeting doesn't work, as a matter of fact the formula would read I < E+D = +D (If your income is lesser than your expenses plus your debts it equals to more debt).

As far as a "fix", the only fix for this problem is adding income. There are a lot of great posts all over this site where you can find ideas on how to supplement your income, browse through, good luck. I wish you the best.

I've decided to start a blog and I even know what I want to blog about and what I want to call it. I'd like my own domain name; i.e. I want to be like FMF, not like blogspot. But the setup seems intimidating. Where would I find good software that lets me do things like index on keywords? (I've observed that good blogging software allows that, while crummy software does not.) How complicated is the setup to do it right? It's easy to do ablog but I want to do a good blog.

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