REPLY TO CLASSMATES POST WK5

yesterday at 9:51 PM

I use a mental budget but I need to do a better job at creating a written budget. My mental personal budget does help me control spending to an extent. If I have $20 of cash in my pocket, I am more apt to spend it on a lot of small and unnecessary purchases verses if it goes on my credit card. I check my checking and credit report each month to determine what I spent on everything that month. Naturally, I am an extremely frugal individual. For example, I wanted a particular type of necklace since last August. It costs $30 and I just now convinced myself to purchase it. However, if it is something that costs money to spend time with the ones I love (weekend trip, going out to eat, etc.), I am very apt to spend it without hesitation. I feel as though I need to sit down and review all my expenses for the month. Giving myself an allowance of $60 per month on going out money will limit my spending. Instead of going out, spending time at friends' homes or taking a walk or volunteering would be a better use of time and money. I do often make homemade cards instead of giving store-bought cards. Often times, my friends and family enjoy the handmade cards BETTER because I put extra time and effort into them. I would be interested to hear what others to for budgeting and keeping track of expenses.