[speaker001:] Okay. So Frank, what, uh, type of, uh, budget do you or your family have?
[speaker002:] [Music] Well, uh I don't know that we really have a budget. I have a set amount that I, that I save. Actually, well actually there is a, a way, budget our money apparently. The, uh, my wife, uh, has so much, uh, gets so much to do shopping with every couple of weeks and, uh, we allot each of us so much money per week for our personal stuff, gas, and things like that and besides that I, uh, you know, I have a set amount that I save every month.
[speaker001:] Right. That's, uh, sounds like probably a tighter controlled budget than what I have [LAUGHTER].
[speaker002:] Uh-huh.
[speaker001:] I am single, so.
[speaker002:] Uh-huh.
[speaker001:] I guess, I don't know if that's an excuse for not having a tight budget, but I basically,
[speaker002:] Really don't need to.
[speaker001:] Right, I don't need to. [LAUGHTER] I am the only that I have to keep track of so it makes it a little bit easier.
[speaker002:] That's right.
[speaker001:] Uh, and also I, you know, I try to save a certain amount each month as well
[speaker002:] Uh-huh.
[speaker001:] and, uh, I try to, try to have an idea of what my expenses are and I am pretty consistent from month to month
[speaker002:] Uh-huh.
[speaker001:] and, uh, whenever, uh, I need to, uh, whenever that changes I am pretty well aware of it without actually having to maintain a budget for it.
[speaker002:] Right. Well, I found that, uh, you know, things, as I have gotten older, I am in my fifties now, but before we use to have, to have to have a very strict budget, I had four kids and, uh, you know we planned out how much we were going to spend for food and how much for, for this and for that. Kind of anticipate how much things were going to be. Uh, I guess one interesting aspect of the budgeting I do now is that I set aside, uh, I kind of fence off areas of my check book. For instance, there are certain things that I know come up, uh, every so often. Every six months I have to pay car insurance. Uh, every six months I have to pay my taxes. So
[speaker001:] Uh-huh.
[speaker002:] I take a set amount. I've got a money market account that I do a lot of uh, uh, saving in and I also have got a checking account besides that, but, what I do on my money market account, my taxes for instance which amount to an average of two hundred and twenty dollars a month. I will just take two hundred and twenty out and I put it in parenthesis. I take it out of the right line total
[speaker001:] Uh-huh.
[speaker002:] and put it in parenthesis in there and let it build up. Every month I add two hundred and twenty dollars to it. Then when the tax bill comes in I've got that much set aside.
[speaker001:] Right.
[speaker002:] And I guess that's a way of budgeting.
[speaker001:] Yeah. That's, I guess I kind of do a similar thing. More, uh, medium or longer range. I just have a maybe a targeted amount that I will save for. Like I am, probably within a year I would like to buy a new car.
[speaker002:] Uh-huh.
[speaker001:] So, I kind of have a, an amount in my mind and I am making every effort to, to sal-, put a little bit away and increase the amount that I need for a down payment or whatever.
[speaker002:] Uh-huh. Yeah. Uh, [chiming] cars are definitely something that you have to figure into your budget. Not only for buying them, but for keeping them on the road too.
[speaker001:] Right.
[speaker002:] Uh, you know, we've got two cars. My wife has a car and I like to drive pick up truck. So, we are on a schedule where I try every, uh, three or four years to, to buy a new one. And you know I am constantly making car payments, but I figure that's got to be the story of my life anyway, is making car payments.
[speaker001:] Uh-huh.
[speaker002:] So, uh, you know, I get one paid for and, uh, actually I am saving up for another one besides so
[speaker001:] Huh.
[speaker002:] it's you know, it's kind of a never ending thing, but
[speaker001:] Right.
[speaker002:] you try to, you try to schedule those things so that, uh, you only, you're not paying for two of at the same time
[speaker001:] Right.
[speaker002:] I guess is what I am saying.
[speaker001:] Have you thought about, uh, leasing?
[speaker002:] Well, uh, I have thought about it, but leasing wouldn't, you know, I don't use it for my business.
[speaker001:] I see.
[speaker002:] My wife uses hers just for pleasure and I use mine just to go back and forth to work
[speaker001:] Right.
[speaker002:] which is only ten miles away so.
[speaker001:] But if you are rolling it over every three years,
[speaker002:] [Throat clearing].
[speaker001:] it might be advantageous to do that.
[speaker002:] Yeah, I guess. Uh,
[speaker001:] You know, typically, you, if you purchase your own car you tend to make, uh, the best returns after you pay it off.
[speaker002:] Uh-huh.
[speaker001:] Of course, the longer you keep it beyond that point, the more profitable it is to own it yourself.
[speaker002:] Right. Yeah, you're right. Uh, I have, uh, been know to keep trucks or cars for oh, ten or twelve years, but I find that after about four years they kind of start going down hill and you got to put put stuff in them you know.
[speaker001:] That's right. [LAUGHTER] Yeah, mine's, uh, seven years old and I think last year was, that was a rough year for it. I had a number of expenses [LAUGHTER].
[speaker002:] Uh-huh.
[speaker001:] But, uh, I am hoping that most of them were just kind of, uh, you know the, as you get to a certain number of miles, you have to get everything replaced, brakes, shocks and all that. So, I just went through that whole set last year.
[speaker002:] Uh-huh.
[speaker001:] I hope that I only have a slow period before I do that again [LAUGHTER].
[speaker002:] Those things can really upset your budget when they, when they come in. Uh, you know, it's nice to have a little bit set aside for the, for the unexpected shall we say.
[speaker001:] Right.
[speaker002:] So that it doesn't, uh, kill you all in one month.
[speaker001:] Right. What line of work are you in?