I like that this article created debate, but the diminished capacity for tolerance is kind of frightening. I think it would be best to look around the world at different systems and try to be honest: none of them work. However, that does not mean that you just pick whichever broken ideology you wish and defend it to the death. I wish more people would read, think, and then form their own opinions. Because in reality Capitalism, Socialism, and Communism have their advantages and flaws. When somebody comes up with a perfect system of government or a truly fair economy, please give me a call. Until then it is good that people are trying to figure this stuff out. Nicely written piece.
Theses are great.
I use olive oil and brown sugar as a face and body exfoliator. The brown sugar gently scrubs away the dead skin cells and the olive oil leaves your skin very moisturised.
What a great post! Beauty products are really expensive. I make a few of my own using essential oils and other natural products. My favorite is a sugar scrub. You save SO much money doing it yourself. And you know exactly what you are putting or not putting onto your face or body.
Great post! Classifying our needs and wants can be a challenge, and I'm surprised at how many people have a really tough time defining their "needs". It's easy enough to say, "I need a new car so I can get to work", and if you can afford the monthly payments, why not? But why not buy a car that is used but still in good shape, have lower payments, lower insurance costs, and have room to save up for that dream house or dream vacation?
No, I can't say that I do follow a budget. I try but it feels too detailed, restrictive and time consuming. I am somewhat reasonable with my money, I pay my bills, bargain shop and look for ways to reduce and save. Things usually work out (Thank God). There are some months that are a very tight squeeze because I do not save ahead for bills that come infrequently but are expensive like insurance, home owners assoc., Medical bills etc. We are paycheck to paycheck with our finances. I know that I can and should do better. I work on improving by reading sites like Wise Bread.
In my opinion, it is dangerous to get used to free things. One loses value of things. Valuable things do cost and someone pays for them. On the other hand 'free cheese is only in a mousetrap'. I suppose getting something free is good if there is mutual respect and understanding between giver and taker. Both of them have to be on the same level. They should change these roles from time to time. If one only gives and another only takes, relationship between the two becomes unhealthy.
Thanks for the article.
I've tried several different methods but the biggest features that help me are:
1. Record everything down to the dollar. Be it cash, a check or credit cards, be aware of what you're spending and when. It doesn't have to be fancy and exact in terms of categories but it should at least show the total that you have to spend and a running total of how much you've actually spent. Categories may help you fine-tune and analyze your spending such as what percentage you're spending on housing but you may not want to get picky about if something is groceries vs supplies, dining out vs entertainment with friends.
2. Online sites make it easier to import your monetary activity. Just be sure to make sure that you have any revisions such as gas stations or restaurants which will register initially $1 or the bill and then revise for the actual cost of the gas or include the tip.
3. Include in another column expenses that have yet to be incurred but will definitely hit your bank account that period. Such as checks for the end of the month for rent, utilities, etc. That way you're not "surprised" when the mortgage check hits your account and you've already anticipated the cost.
4. Also, if you go over one month, carry over the excess to the next month so that the overages don't snowball. In general though, I don't carry over any savings if I don't spend my entire budget.
5. For mortgages, I can't do the 13th payment that so many people reccommend. However, I can manage a few extra hundred a month. Also, I'll adjust my mortgage payment every year by a COLA factor. That way I'm paying more additional principal each year in a relatively painless way.
6. I also track how much I spend on "treats." Not neccessities or every time I eat out but if I know that I gave in and ordered that pizza when I had food at home or splurged on a magazine that I didn't need. It's helpful to me to know how much I'm spending on truly discretionary items.
If I really need some retail therapy, I tend to go to the Dollar Store with twenty bucks. I actually find snack food, toiletries, party supplies etc that I'll use and again, it's only $20 and they're all $1 or less. More practical than spending $60 for a new blouse or $100 for the stereotypical shoes.
We have never sat down and put together a real budget. I keep track of how much I spend on food, and every couple of weeks, I look at the CC statements and online activity. If it looks like we're out of whack, we talk about where we can cut back. So far, it works out okay for us. We could save more if we followed a strict budget, but we're not quite ready yet.
I truly try to budget, setting a spending limit each month for discretionary choices and not spend more once I hit that limit. But I have problems sticking even to that and don't do much more in the way of a formal budget. Somehow I've managed to save some money despite myself.
We have a LOOSE budget. In other words we have our bills. We have X amount of dollars that goes into savings every week, no matter what, and then we have guidelines for gas, groceries, and fun. Anything left over gets applied to a future goal like vacation.
My husband would love to have a budget for ME! It is not anything we have ever actually had or plan to have. We have good jobs, have invested wisely, and are debt free. If our income was less and we were in debt, I would maybe consider a budget.
Great point, it is often wise to buy a house well within your means, and not max out to what the bank tells you what you can afford. Remember, they are a business, and will try and make as much money as they can off of you. A higher down payment and a smaller loan means less interest out of your pocket.
Because I am relatively young and will be in school for the foreseeable future, budgeting is critical--and I make sure to budget every day. 25% of my income goes to savings; 7% to paying off student loans; 30% to rent; 10% to other fixed costs (utilities, internet, cell phone). Subtracting all these from my paychecks at the beginning of each pay period allows me to divide and spend the rest on food, books, leisure without having to worry about setting anything aside (but sometimes I do!).
I learned how to budget--or rather, *why* to budget from my father. He did not budget wisely, and as a result, I saw my college savings depleted, his retirement emptied, and much of my family's financial security jeopardized. Watching my father exit the upper-upper middle class and join so many without secure retirement --or savings--impressed upon me the necessity of saving.
I totally agree about investing in the much more durable restaurant grade kitchen products. Even kitchen utensils made for the restaurant kitchen are of superior craftsmanship. Those I bought are stainless steel and have no seams or rivets or plastic handles. They are all one piece. I had replaced the Ecko and similar products I bought cheaply in my early setting up housekeeping days numerous times. Then I thought to check a restaurant supply store and voilá, I found my beloved kitchen utensils that have lasted for years now.
I was thinking about getting AD&D because I am a computer programmer and the dismemberment part would be helpful. If I lose a finger or a hand and can't type, I'm out of a job and our sole source of income.
We do have a budget, but we don't always stay under in all categories. Some months we are under, some months we are over. But we use the budget as a guide for where we should be.
My teenaged boys and I are currently participating in a contest (Financial Health Challenge) sponsored by KREM-2 news and UHSCU. During the 6 month contest, we try to increase savings, decrease debt and must blog about our progress. This book would be a huge benefit to us!!
I like that this article created debate, but the diminished capacity for tolerance is kind of frightening. I think it would be best to look around the world at different systems and try to be honest: none of them work. However, that does not mean that you just pick whichever broken ideology you wish and defend it to the death. I wish more people would read, think, and then form their own opinions. Because in reality Capitalism, Socialism, and Communism have their advantages and flaws. When somebody comes up with a perfect system of government or a truly fair economy, please give me a call. Until then it is good that people are trying to figure this stuff out. Nicely written piece.
I manage to get by, but I would be lots better off if I understood how to budget. I need help!
Theses are great.
I use olive oil and brown sugar as a face and body exfoliator. The brown sugar gently scrubs away the dead skin cells and the olive oil leaves your skin very moisturised.
What a great post! Beauty products are really expensive. I make a few of my own using essential oils and other natural products. My favorite is a sugar scrub. You save SO much money doing it yourself. And you know exactly what you are putting or not putting onto your face or body.
Great post! Classifying our needs and wants can be a challenge, and I'm surprised at how many people have a really tough time defining their "needs". It's easy enough to say, "I need a new car so I can get to work", and if you can afford the monthly payments, why not? But why not buy a car that is used but still in good shape, have lower payments, lower insurance costs, and have room to save up for that dream house or dream vacation?
No, I can't say that I do follow a budget. I try but it feels too detailed, restrictive and time consuming. I am somewhat reasonable with my money, I pay my bills, bargain shop and look for ways to reduce and save. Things usually work out (Thank God). There are some months that are a very tight squeeze because I do not save ahead for bills that come infrequently but are expensive like insurance, home owners assoc., Medical bills etc. We are paycheck to paycheck with our finances. I know that I can and should do better. I work on improving by reading sites like Wise Bread.
In my opinion, it is dangerous to get used to free things. One loses value of things. Valuable things do cost and someone pays for them. On the other hand 'free cheese is only in a mousetrap'. I suppose getting something free is good if there is mutual respect and understanding between giver and taker. Both of them have to be on the same level. They should change these roles from time to time. If one only gives and another only takes, relationship between the two becomes unhealthy.
Thanks for the article.
I've tried several different methods but the biggest features that help me are:
1. Record everything down to the dollar. Be it cash, a check or credit cards, be aware of what you're spending and when. It doesn't have to be fancy and exact in terms of categories but it should at least show the total that you have to spend and a running total of how much you've actually spent. Categories may help you fine-tune and analyze your spending such as what percentage you're spending on housing but you may not want to get picky about if something is groceries vs supplies, dining out vs entertainment with friends.
2. Online sites make it easier to import your monetary activity. Just be sure to make sure that you have any revisions such as gas stations or restaurants which will register initially $1 or the bill and then revise for the actual cost of the gas or include the tip.
3. Include in another column expenses that have yet to be incurred but will definitely hit your bank account that period. Such as checks for the end of the month for rent, utilities, etc. That way you're not "surprised" when the mortgage check hits your account and you've already anticipated the cost.
4. Also, if you go over one month, carry over the excess to the next month so that the overages don't snowball. In general though, I don't carry over any savings if I don't spend my entire budget.
5. For mortgages, I can't do the 13th payment that so many people reccommend. However, I can manage a few extra hundred a month. Also, I'll adjust my mortgage payment every year by a COLA factor. That way I'm paying more additional principal each year in a relatively painless way.
6. I also track how much I spend on "treats." Not neccessities or every time I eat out but if I know that I gave in and ordered that pizza when I had food at home or splurged on a magazine that I didn't need. It's helpful to me to know how much I'm spending on truly discretionary items.
If I really need some retail therapy, I tend to go to the Dollar Store with twenty bucks. I actually find snack food, toiletries, party supplies etc that I'll use and again, it's only $20 and they're all $1 or less. More practical than spending $60 for a new blouse or $100 for the stereotypical shoes.
We have never sat down and put together a real budget. I keep track of how much I spend on food, and every couple of weeks, I look at the CC statements and online activity. If it looks like we're out of whack, we talk about where we can cut back. So far, it works out okay for us. We could save more if we followed a strict budget, but we're not quite ready yet.
I agree with this post 100% it is good to have a site with such valuable information to keep up the good work and thank you.
I truly try to budget, setting a spending limit each month for discretionary choices and not spend more once I hit that limit. But I have problems sticking even to that and don't do much more in the way of a formal budget. Somehow I've managed to save some money despite myself.
I need it because I budget my money by going to the ATM and seeing how much money I have in my checking account.
We have a LOOSE budget. In other words we have our bills. We have X amount of dollars that goes into savings every week, no matter what, and then we have guidelines for gas, groceries, and fun. Anything left over gets applied to a future goal like vacation.
My husband would love to have a budget for ME! It is not anything we have ever actually had or plan to have. We have good jobs, have invested wisely, and are debt free. If our income was less and we were in debt, I would maybe consider a budget.
Would love to do this, but riding my bike in a suit and tie with nowhere at the office to shower probably isn't the best idea. :)
Great point, it is often wise to buy a house well within your means, and not max out to what the bank tells you what you can afford. Remember, they are a business, and will try and make as much money as they can off of you. A higher down payment and a smaller loan means less interest out of your pocket.
Because I am relatively young and will be in school for the foreseeable future, budgeting is critical--and I make sure to budget every day. 25% of my income goes to savings; 7% to paying off student loans; 30% to rent; 10% to other fixed costs (utilities, internet, cell phone). Subtracting all these from my paychecks at the beginning of each pay period allows me to divide and spend the rest on food, books, leisure without having to worry about setting anything aside (but sometimes I do!).
I learned how to budget--or rather, *why* to budget from my father. He did not budget wisely, and as a result, I saw my college savings depleted, his retirement emptied, and much of my family's financial security jeopardized. Watching my father exit the upper-upper middle class and join so many without secure retirement --or savings--impressed upon me the necessity of saving.
I totally agree about investing in the much more durable restaurant grade kitchen products. Even kitchen utensils made for the restaurant kitchen are of superior craftsmanship. Those I bought are stainless steel and have no seams or rivets or plastic handles. They are all one piece. I had replaced the Ecko and similar products I bought cheaply in my early setting up housekeeping days numerous times. Then I thought to check a restaurant supply store and voilá, I found my beloved kitchen utensils that have lasted for years now.
Thanks for the shout-out Linsey! I really love this one...
I was thinking about getting AD&D because I am a computer programmer and the dismemberment part would be helpful. If I lose a finger or a hand and can't type, I'm out of a job and our sole source of income.
We do have a budget, but we don't always stay under in all categories. Some months we are under, some months we are over. But we use the budget as a guide for where we should be.
My teenaged boys and I are currently participating in a contest (Financial Health Challenge) sponsored by KREM-2 news and UHSCU. During the 6 month contest, we try to increase savings, decrease debt and must blog about our progress. This book would be a huge benefit to us!!
Good question! Look for my upcoming article to address this :)
No, I don't. I keep track of my money and know how much I have for things, but nothing has a set amount set aside for it.
I save money where I can of course, but I don't have an actual budget that I follow. I guess it would be a good idea at some point!