Ky and I are putting together our annual budget, and spent a fair bit of time this evening working on it #romance.
It’s an interesting process. We have decided to go with the classic 50/30/20 split; 50% needs, 30% wants, 20% savings, but it isn’t always clear cut. For example, our coffee subscription is in the wants pile, but were we to cancel it, I’m sure coffee would pop up in “groceries”, a need.
By far, the biggest debate has been around the car. We have options to lease, buy, or finance a car, and none of the options are a clear slam dunk. Part of this inaction comes from ignorance (we don’t know much about cars) and part comes from insecurity about the future (will we be here in three years time).
Regardless, it’s been a good experience. If anyone has any cool budgeting tips, we would love to hear. At the moment we’re just using a simple Google Sheet, which works, but I feel there is more out there.