I’m not a big fan of budgets, I think it’s the detailed information that drives me nuts. I like to keeps things as simple as possible and then adjust as needed. I find the following to be a wonderful way to remember how to budget:

B = Buy what you need, not what you want.
U = Use it up, wear it out or give it away
D = Don’t spend what you don’t have yet
G = Garage sales, thrift shops, pass downs
E = Eat at home or make it at home
T = Track your spending
S = Simplify your life

B) I’m pretty good at this, delayed gratification isn’t too hard, I can put something off for months – sometimes things will just eat at me and I buy it or buy a smaller version/smaller amount.

U) I can do better at this when it comes to electronics and housewares, but I’m pretty good for clothes.

D) I’m working within my means, and am proud to say things are getting better.

G) No trouble here when it comes to 2nd hand stores, hard to get away from work to get to yard sales.

E) No troubles here, it is a rare, exciting day when ordering food is in the budget. Lots of soups, sandwiches and leftovers.

T) Like I said above, details are not my specialty but I have my own round-about way of keeping track that involves online banking, a checkbook and cash.

S) I could go much simpler but I also have to share a home with my partner and I like getting along with people much more than simplifying sometimes.

Additional reading:
Carnival of Money Stories
Festival of Frugality

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Dawn C. is site owner of FrugalforLife.com where this is a repost from: The Simplicity of Budgeting. Dawn resides in Colorado with her spouse, Teri, of 12 years.

Photo credit: stock.xchng.