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Old 05-22-2020, 06:31 PM   #41
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I have two budgets:

(1) My wife's business budget which I monitor monthly when I get the monthly business statement from our bank. Any unexplained debit on this statement I get clarification from that individual for the business tax return. Otherwise the business expenses of rent, maintenance and utilities are fairly repetitive. Reviewing the monthly business expenses against the monthly business income ensure a positive cash flow.

(2) Our family budget is in good shape since my daughter recently got married (yeah!) and my wife is a very low maintenance wife because she went through hard times before we got married(double yeah). I have to insist on getting my wife to buy clothes. I really do not have a family budget because our expenses do not get out of hand and I only review our credit card statements to determine where most of the money is going. When I was younger with less income, I had a family budget to control our expenses. I recall reviewing that family budget every year in January when I start to work on my taxes.
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Old 05-22-2020, 08:18 PM   #42
Recycles dryer sheets
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Join Date: Jul 2017
Location: Pittsburgh
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Quote:
Originally Posted by T-Minus View Post
I do my planning in the Oct/Nov timeframe and test/revise the new plan in Dec. Itís then put into action Jan 1.
+1
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