Retirement Budgeting... how did it go for you?

[audreyh1]

I think many of us use different terminology for the same thing.. Not to have budget but to look at expenses twice a year to see if they are inline with expectations is really like a budget isn't it?

Sort of - since you have established the “expectations” which is basically a budget. However I think most people here track, and don’t worry if it doesn’t match perfectly- the budget is a guideline and useful for planning and tracking. In the strictest sense of a budget, one is supposed to stop spending when a given category is exceeded. If someone has limited funds that barely meet expenses, one has to budget strictly.

 

[Martha]

Thanks for the welcome back folks. I see many familiar "faces." Jazz, it is great to see you made it to ER. Audrey, I'd love an update on birding along the Rio Grande.

 

[audreyh1]

Thanks for the welcome back folks. I see many familiar "faces." Jazz, it is great to see you made it to ER. Audrey, I'd love an update on birding along the Rio Grande.

Birds and butterflies continue to be great at home. I’ll send you a PM.

 

[Dtail]

Sort of - since you have established the “expectations” which is basically a budget. However I think most people here track, and don’t worry if it doesn’t match perfectly- the budget is a guideline and useful for planning and tracking. In the strictest sense of a budget, one is supposed to stop spending when a given category is exceeded. If someone has limited funds that barely meet expenses, one has to budget strictly.

I do have a budget for all categories of expenses, but as long as the overall budget is in line or under, I don't stop spending in the over budget category and would just adjust the budget for next year in that category as needed and monies being available.