I just use a credit card that I put everything on. Along with the few bank transfers for recurring expenses, that gives me a good monthly estimate.
I don’t really do further expense tracking. Nor do I have a detailed budgeting system. I just try live by a few “lazy” budgeting rules. Not sure if you can even call them budgeting, and they’re most probably nothing new for Mustachians:
- Try to to limit recurring expenses like subscriptions and long contracts and keep to the essentials (rent, health insurance, transport pass, internet, mobile phone/internet, gym, and of course taxes)
- Don’t dwell on the cost of education. It’s an investment.
- Food is a small everyday joy. Try to cook regularly and find a good balance between taste and nutritional values. Buy only as much as you need but don’t skimp on quality.
- I’m don’t like smoking, alcohol or other (non-food) drugs much, so hardly spend anything on them.
- Clothing needs replacement every once in a while. One wants to look decent and attractive.
- Think before you buy. Defer to a later date if possible and think again if you need it. Don’t buy superfluous things like clothing, furniture.
- Try to to shop affordable, with “value for money” mind. Wait for good deals on items that you don’t immediately.
- Allocate a small amount as “fun money” that for discretionary spending. No need to feel guilty about it. Maybe 300 CHF a month. I wouldn’t include food or drinks on that budget item, but do include a (roughly yearly) holiday.
- Save the rest and invest