planning

Is Just Leaving Some Slack Better Than a Plan?

Posted February 4, 2010 - 06:00 by Philip Brewer

Personal Finance, Budgeting

Bee on Clover

Are you as tired as I am of personal finance sites saying that you've got to have a plan? If you're a planner, it's unnecessary advice, because you've got a plan. If you're not a planner it's pointless advice, because you're not going to make a plan anyway. And that's okay, because just leaving some slack can be as good as making a plan.

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Plan for your wants

Posted December 27, 2008 - 13:15 by Philip Brewer

Personal Finance, Budgeting

Tall ships

Budgets tend to focus on needs--food, shelter, heat, light, transportation, and (of course) taxes. They also provide for wants, but generally the smaller, shorter-term wants--cable TV, a magazine subscription, an occasional restaurant meal. Instead of a budget line, the larger, longer-term wants are covered implicitly when your budget spends less than all you earn. Somewhere, though, those big, long-term wants deserve a plan.

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What if energy costs keep rising?

Posted May 9, 2008 - 05:15 by Philip Brewer

Budgeting, Cars and Transportation

Last year's gas prices

I don't know if energy costs will keep rising.  Nobody does.  Even with recent growth in China, India, and elsewhere, the US still consumes 25% of the oil produced world-wide, so a severe recession in the US could easily cut total demand enough to bring the price down.  Recession or not, I think the medium-term trend in energy costs is up.  Just in case I'm right, you ought to have plan for that.

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Budgeting in a time of inflation

Posted April 23, 2008 - 04:30 by Philip Brewer

Personal Finance, General Tips, Budgeting

Draft budget

My very first experience running a household was in 1980, just as the last big inflation was spiking up over 10%.  My carefully constructed budget was completely destroyed by prices that were rising by 1% every month.  Since then, I've given considerable thought to how to deal with just that situation.  Since history seems dangerously close to repeating itself, it's a timely topic.

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25 Things I Don't Want to Regret Once I Retire: Take Two

Posted January 24, 2008 - 01:00 by Anthony Marrone

Personal Finance

Since posting the first part of my list of 25 ideas and goals that I want to live by and be able to look back on with pride when it comes time for me to "hang it up". I've reformed the list in the past couple days, especially after reading all of your great comments. Without further ado, the exciting conclusion of "25 Things I Don't Want to Regret Once I Retire"

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Your budget: envelopes or a plan?

Posted 2 years ago by Philip Brewer

Filed Under: Budgeting

Budget envelopes

When I was first introduced to budgeting, the model used was the envelope method. Every payday you'd take your cash and divide it up among envelopes labeled "Rent," "Groceries," "Electric Bill," etc. Then, when it was time to shop for groceries or pay a bill, you'd take the money out of that envelope.

Just to be clear, even I'm not old enough that anyone I knew ever used actual envelopes. We'd keep the money in a money market fund or savings account (nowadays probably an internet savings account), and use a spreadsheet (or paper) to keep track of the categories. But the model was envelopes.

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A Budget is Not a Constraint

Posted 2 years ago by Philip Brewer

Filed Under: Budgeting

Notebook with draft budget and pen

When people resist the idea of budgets, the most common reason is that they view the budget as an unwelcome constraint. That's completely wrong. A budget is not a constraint. A budget is a tool for maximizing pleasure and satisfaction.

That's not to say that people don't operate under constraints. Everybody has limited resources. Everybody has limited time. Everybody operates with a whole constellation of other constraints: legal, moral, and social, from old obligations to family expectations.

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Look where you want to go

Posted 2 years ago by Andrea Dickson

Filed Under: Life Hacks

Yesterday, as I teetered precariously on my motorcycle at the top of a steep hill, riding home from the repair shop and thus marking my first time on a motorcycle that wasn't in a flat, closed course, I was repeating one of the standard Motorcycling Mantras: Look where you wanna go. Look where you wanna go. Look where you wanna go.

I was also repeating the Greenhorn Mantra: I don't wanna die. I don't wanna die.

The funny thing about motorcycling is that you can find all kinds of life metaphors in the sport. Take the "look where you wanna go" thing.

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Like DIY? Avoid these TEN costly mistakes.

Posted 3 years ago by Paul Michael

Filed Under: DIY

Duuuhhhhh

I love DIY. I’m completely awful at it, but as I’m thrifty I’d much rather do something myself than pay someone else three times as much to do it. But here’s the rub. You can end up costing yourself more in the long run by doing it yourself. So, I scoured the web looking for the obvious and not-so-obvious mistakes DIY addicts make and compiled this list.

PLUS, as a special treat for you all, I’ve included a video at the end of home improvement mishaps, or DIY inaction in action. Better not watch it if you don’t like seeing folks screw up. Anyway, be a safe DIYer and enjoy the smell of sawdust in the morning.

Continue reading "Like DIY? Avoid these TEN costly mistakes."

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