“Budgeting has only one rule: Do not go over budget.”
― Leslie Tayne, Life & Debt: A Fresh Approach to Achieving Financial Wellness

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Several posts ago I wrote, “Mental Health and Finances“, but I have been thinking about mental health and having a budget. I do my level best to stick to a budget. It is what keeps me from going over the edge of complete lunacy.

The biggest thing that has helped me with keeping a budget and keeping track of my finances is, online banking. I can go into my account and see where I stand at any point in any month in my finances.

The other major breakthrough that I learned years ago, it was tough, was distinguishing between needs and wants. I need food, but I want a large screen television.

BTW, I am not a financial advisor, but I thought I would share my insights on the subject.

I recognize and have sympathy for those who are struggling in these very extreme circumstances. So, to you hearing about having a budget is far from your thoughts at this moment.

My Steps

1. Pay my rent
2. Pay my prescriptions
3. Pay my phone/internet/tv provider.
4. Buy groceries – never go shopping when you’re hungry. It is recommended, not always possible, never take children.

After all those things whatever I have left I try to set aside a small amount of money for incidentals, like milk and bread, that I will need throughout the month. That is basically how I manage from month to month.

For other difficulties that may come I do my best to ask for the privilege of making a couple of payments. It is difficult for many families to even handle a four hundred dollar emergency.

So dear reader, do you have a budget and if so, do you have any insight on how you manage? I would love to hear some of your tips on the subject.