Comments on No More Spending.net: Help me decide the best route

I'm in the process of doing a year long budget. Ra...

2009-08-24T06:32:28.431+01:00

I'm in the process of doing a year long budget. Rather than trying create my own spreadsheet (something I'm no good at) I used Fabulously Broke's budgeting excel sheets. It costs about 30 euros but I found worth the money.

http://budget.fabulouslybroke.com/2009/05/budgeting-expense-tracking-analysis.html

I think it sounds like a great solution. I know h...

2009-08-21T17:42:45.593+01:00

I think it sounds like a great solution. I know how snowflaking can be hard work - I, myself have gotten burned out. It might make getting that extra money fun again if you don't feel a huge pressure. You can always use it to make extra payments so you are done even faster.

Mu budget is planned out till the end of 2012.. ok...

2009-08-21T15:57:39.356+01:00

Mu budget is planned out till the end of 2012.. ok, it needs adjusting here and there, depending on pay rises and variables such as utility bills etc.. but I can tell you what month I'll be debt free definately. Anything earlier than that is a bonus. It helps me relax about the whole thing. So if I don't make the payments I think I can make for whatever reason, it's OK, because at set month in 2012, it'll be gone anyway...

As with most things, i can see advantages and disa...

2009-08-21T12:44:20.174+01:00

As with most things, i can see advantages and disadvantages. Obviously one advantage would be that (barring unforeseen events), you would have peace of mind knowing that as long as you stick to your budget your debt will be paid off by a set date. Also, as you say, you will have budgeted in some savings which is a good incentive. Disadvantages i would say are that it can be hard to motivate yourself for longer term goals. You may find that focusing really hard on the monthly snowball payment, as you are now, you may pay off your debt much quicker and then still have time to build up some savings before the end of the year. I think it all depends on you really, how do you feel about it? Why not do a weekly budget rather than a monthly budget, just to be controversial? Lol.

I do a yearly budget, taking a longer view helps y...

2009-08-21T11:00:50.587+01:00

I do a yearly budget, taking a longer view helps you to see the bigger picture, especially as you have a large goal to aim for.

Hi there-its a great plan which eliminates your de...

2009-08-21T08:39:33.891+01:00

Hi there-its a great plan which eliminates your debt, gives piece of mind and savings too-I'd say go for it!!

Sounds good to me, especially if you get paid ever...

2009-08-21T03:52:16.007+01:00

Sounds good to me, especially if you get paid every 4 weeks rather than monthly?