Budget - Monthly or Yearly?

David Carlson david.carlson.417 at gmail.com
Sun Dec 14 16:05:23 EST 2014


On 12/9/2014 2:46 PM, Chris Henderson wrote:
> I’m setting up expense only annual budget for 2015 and would like some
> advice.
>
> Is it better to setup the budget Annually or monthly? I only care about
> what I spend in total every year, not what I spend every month. Some items
> are hard to gauge monthly (even with the estimate option) - gas, grocery,
> postal, brokerage, clothes, parking etc.
>
> Are there any benefits in filling up the monthly expense categories in
> detail?
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Hi Chris,

I think nobody has answered this question because it is too vague.  So I
will ask you why do you even need a budget if you do not want to track
your spending while it is happening? 

Most people who set up budgets want to have a set of spending (and
saving) goals and want to track whether they are meeting their goals in
the short term, possibly even weekly in some cases. 

GnuCash does not make that very easy, so you need to try out a simple
budget first, perhaps for only rent and groceries to see how it goes.

Best wishes for the holidays,

David C


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