A monthly budget-type question.

smbenevides1989 · August 2014

Since I started budgeting, I have used an excel spreadsheet and budgeted on a weekly basis. I decided at the end of last month that I wanted to try a Monthly Zero based budget. So far we have been doing extremely well, H is on board, and we haven't overspent on anything (I also have been keeping up with my weekly budget just to make sure we are on track). Now I have been putting money into savings each week, but I have been trying to figure out what to do at the end of the month.

For those of you who do a zero based budget, what do you do with your "untouched" money at the end of each month? This is the one thing I cannot figure out what I want to do. I was thinking of just placing whatever is left over into our savings account, but I have also contemplated on transferring those category balances into the next month.

Mom987 · August 2014

I'd probably put it into savings.

CuriousKiddosMama · August 2014

You can out it all into savings if that is what works for you. We use the envelope system so if there is an extra 30 left in grocery fund we leave it there for the next month. If I am ever going through the envelopes and there is just way too much there (this happened this month with groceries because we are cleaning out the pantry and freezer before we move) we don't allocate as much to that envelope that month and put the cash somewhere else instead.

lifeonthehill · August 2014

Right now any extra goes to whatever our current savings goal is. Right now it is SLs but it could be a variety of things. Textbooks for college, tuition, e fund, new(to us) car fund, and saving our ins. max OOP.

If we were worried that the next month was going to be too tight we would leave it and budget it into our cellphone bill or car insurance slots so we wouldn't have to stress to much.

ETA: Leaving the money in the budget for the next month was handy when I was out of work for nearly 2 weeks with severe hot tub rash or when I had second degree burns on my feet and missed 4 days.

lifeonthehill · August 2014

Whoops.

jlaOK · August 2014

We use a cash envelope system so if there is any money left in the envelopes it just gets carried over to the next month (this hardly ever happens). Theoretically if we had a category that consistently had money left over then we'd adjust that category down. We've never done this, however, because we are saving like crazy for our new house so we are pretty limited on our categories.

hoffse · August 2014

I just send everything to savings. At the end of the day it doesn't really matter what you do with it - roll it over or save it... the end result is pretty much the same, because that's extra money in your pocket somewhere. I like to save it because it means my budget doesn't change much from month to month, and it doesn't make me feel like I can overspend in that category the next month.

mc0113 · August 2014

We keep a $1,000 savings account and then everything leftover gets invested. We have a couple different stocks/mutual funds we invest in and have it automatically deducted into two accounts (each invested in multiple things) 1 through Vanguard and 1 through a financial adviser.

Xstatic3333 · August 2014

I generally save it...it has, however, been known to turn into a night out on occasion. We also don't usually have much left over.

brij2006 · August 2014

Anything leftover we will pull out and separate into "extra" envelopes. Mostly this is for any larger unexpected car maintenance or home repairs. Currently we have an envelope with $500 for home repairs in it and $300 for auto repairs that may come up that we haven't budgeted into that month. Just in case. Now that both of those envelopes are full, anything left over in our account at the end of the month goes toward the next debt in our snowball (or right now savings until after baby is here).

KatieCutie05 · August 2014

We total out whats left and put it all toward our current goal - right now its the baby fund but before it was all going toward debt. With the exception of a few categories like spending money but that usually is all spent anyway. We don't keep a general savings past our "sinking fund" and our "emergency fund" and those are prefunded separately.

smbenevides1989 · August 2014

Thanks for the input! I think we are just going to hoard the money away into our savings and use it as a way to pay for bills/save up for a down payment.

uncreatedsnow · August 2014

Yep. I do envelopes too. If it's extra in an envelope it stays there and rolls over(this is how I save up for things like new tires, spa days, etc. using my car, haircut, etc. envelopes).

I have two savings accounts. One is my E-Fund and the other is general savings that isn't usually earmarked for anything. $50 a pay goes into the General Savings as well as whatever is left over from the last pay on the new pay date. Right now, at the end of the year that money will go toward my car loan to help reach my last MM goal for the year. I don't like doing that monthly since my 2nd job could end at anytime and I don't HAVE to throw more towards my car. I feel like once it's gone, it's gone and get scared.

I'm with @hoffse though, at the end of the day it's still savings. For me a lot of it is playing with/against my OCD.

A monthly budget-type question.

Re: A monthly budget-type question.

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