I'm in college, so I don't need to carry as much around with me as many other people do. In a Coach wristlet I have lip balm, keys (2 for dorm, 1 each car, my parents' house, and PO Box), phone, and a little wallet/coin purse with my drivers' license, AAA card, debit card, student ID, and about $20 cash.
1. I keep paying my mortgage but my neighboors didn't and as a result the valueof my home plunge 50%. Basically good money is going down the drain each time I make a payment.
2. Now that we've seen the home owner's side, let's take a view at the lender's side. There are banks and financial institutions who go out there doing business, trying to make money. They make bad decisions and lose money, tons of money. First question is: why do we have to bail them out? If bailing out a home owner is wrong then why do we have to use "tax payers" money to bail out banks? After all, a home owner buy a house, things don't go as expected and he loses money. The same goes for the banks. One difference however, home owners get bad credit, corporations don't get anything. GM, for instance, wiped out their share holders, started fresh and plan on ... selling stocks.
Next question is: why can banks and financial institutions look after themselves and we, home owners, can't?
Sound outrageous? Wait, now that banks are making tons of money, they pay their executives hundreds of thousands if not millions of $$$ in bonuses, the same people who drove their banks to the edge of bankruptcy.
Great tip! And it looks like other readers totally agree. I love it when readers add tips that I had never thought of. I don't think I've ever been to IKEA during the week since it's so far away for me. Well done!
I would also add - if you live close enough, make it two trips - one to mark down everything you need in a leisurely way, and another to get in and out as quick as possible. Also gives you a chance to go home and re-measure.
hunting and fishing both can provide a lot of food and it is a lot cheaper if you dont go crazy and start buying a bunch of stuff u dont need. a lot of people have this idea that you gotta have every bell and whistel that is out there on the market but all you really need is common sense.
I once made it in and out of the IKEA in 10 minutes. I knew exactly what I wanted - went in downstairs and grabbed it off the shelf. I also found that it is a good time to go around dinner time on the weekends. Usually people have gone early in the morning and are starting to leave around 4PM.
"shop" them online, and make a wishlist, then when you print, make sure the list indicates the location of each item that you want, that way you can head straight for the marketplace to choose your items and bypass everything.
Definitely go Monday though Thursday if you need to get in and out.
Never go during Spring break or any other time that kids are out of school. I learned this the hard way last week. It can ruin even a weekday trip.
GIven its been 2 years since this post and I have a similar goal as Xin Lu's, I wondered if the goal was still the same and how Xin's progress is toward meeting it.
I am a huge IKEA fan, but it can be totally overwhelming, especially the mouse-maze they take you through. It's designed to make you see everything. At least at the IKEA's here in California, if you look up you will see signs directing you to various sections, so you can bypass what you don't need.
I totally agree with going anytime but on a weekend. If you must go on a weekend, have a plan as mentioned in the article, and get there when they open. "Search and destroy", getting what you need and getting out.
Their prices are low because you do the heavy lifting (literally) yourself. If you are set on buying couches and kitchen cabinets, for example, bring at least a friend or two to help get stuff off the shelves and onto your cart. Those cartons are HEAVY. And bring a spacious vehicle.
I have worked for Big 4, Regional Firms, etc and it always amazes me when accountants fail to realize how important they are to small businesses and how much they can help! This beneficial relationship is sometimes forgotten by both parties, but proves highly beneficial.
Building a relationship with a good small business accountant is the first step toward long term success and planning - and the best relationship should resemble trust and detailed awareness in monitoring for excess spending, watching for delayed account collections, and maintaining an edge on industry news and tax changes/benefits.
Over the last two years and into the future a personal relationship with a small business accountant will provide profitable navigation through a roller coaster of tax law updates and new governmental packages. It is never too late to renew this partnership and increase your acceleration down the path of prosperity and success.
Yeah, that's a really good example of how debt works against happiness. You've already got whatever you borrowed the money for, so the connection between spending and satisfying a want becomes disjoint. Without that connection, the budget's power as a tool is reduced.
I don't know if this is any help or not, but since you mention debt-repayment: Remember that debt repayment is not an expense. Debt repayment is an internal transfer, just like putting money in your savings account. That doesn't make much difference (I mean, it doesn't mean that you don't have to make the payments), but when I was paying off debt I found that it helped me deal with the frustration of forking over the cash and getting nothing in return.
another thing, they send those out for advertisement!! how are u suppose to advertise your product if u dont send it out! netspend is the best and only prepaid debit card service that i actually like and if you disagree go to their site and see for yourself! its COMPLETELY LEGIT. one of the awesome things about it is no overdraft fees too!
i have a netspend card and ive been using it for a year now. besides the fees for checking your balance OVER THE PHONE, which is only 50 CENTS! there really is no problem with the card. i have my check deposited bi-weekly from my job which they do not charge you for. plus i get my check a few days earlier. and one thing i found that was convenient is that if i am a little short of money on my card they will let you be negative up to $10 when u use ur card. of course they take it out the next time you have money but its VERY CONVENIENT!
forgot to mention - i never had the luxury of getting benefits at any of my jobs. that's the reality for many of us out there. i worked for places that would never fire someone so they dont have to pay for unemployement. They know the job is miserable enough that you quit when you burn out. Now I'm trying to contribute to the economy by starting a business - you'd think i get a break! when i read about the sense of entitlement people have, for most laid off workers who post to think they somehow deserve continuing pay when they are not contributing anymore, it is pretty discouraging.
And it IS fair for those of us who werent laid off and have crappy jobs to comment on those who lost their jobs. They obviously made a lot more money than is necessary to get by, they had the choice of saving it or of blowing their revenue (which i still doubt is THAT much more "hard-earned" than any other minimum wage physical laborer). They made the choice, and experienced the benefits - vacations, fancy restaurants and food and cars and houses. Now they experience the downside - the responsibility. A little help, yes. A big salary for nothing, no.
I think unemployment is messed up! I have a 4.0 BSc degree from McGill, top U in Canada, a 4-year 4.0 Masters degree, worked through both of them, but havent found a high paying job so far. But I choose to work a lot and start a business. I make only 1200 a month... and last year I lost 6000 with my business. Can you imagine how thrifty I have to be? I do not get medicare because I'm right above the limit. It sickens me to read about people making 2000 doing nothing. And some even want you to feel bad for them because they have a mortgage on a nice house and have kids. Well for one, they chose to have kids. I chose not to, in part because I cant afford them right now and wouldnt want them to lack anything. As far as the house goes, I live in a decrepit apartment, and have dreamt of a house my whole life. But I haven't taken the leap because I don't expect people to come rescue me when I can't pay for it. I'm waiting til I can actually have almost enough in the bank to pay it off. Sick of people who choose security and hard work paying for those who choose luxury and risk.
The other thing is to note the shortcuts on the map. I think every store has sneaky hidden shortcuts that allow you to bypass big chunks of the store. Especially helpful if you need to go back to the start to get something you decided you couldn't live without.
#2a - Never ever go to Ikea on the weekend. I actually told my husband to take away the car keys if I ever said I was going to Ikea on Saturday or Sunday.
I completely agree with the sentiment of this post, but it assumes that you have a reasonably comfortable income and that your financial "house" is already pretty much in order. I started a budget almost 4 mos. ago and while it does provide me with a much-needed sense of security to know that my non-negotiable bills are paid and absolute necessities are provided for, I'd never say that having it is fun. When I tally up utilities, rent, food (a meager $20/week) and other debts, there really isn't much left for anything fun. I struggle to get even $25/mo in savings. I was hoping there would be some big secret in here to make it more fun for now, but I'm definitely going to aspire to put this into practice once my debt-repayment extravaganza is finished and there's more left after all the non-negotiable bills. Since my issue is income-based, I have considered getting a second job, but my time is worth more to me than selling even more of my life to some company.
Someday I'd LOVE to start taking art classes at the local art co-op, take classes at the YMCA instead of exercising at home, go back to school for the heck of it, cook more gourmet food at home and go on exciting road trips (for geocaching and camping!). Right now it's all still very much out of reach. But a girl can dream!
Drivers license, check card, library card and whatever cash I have (which is usually none). I run very lean. Just the essentials.
two credit cards, drivers license, atm card, insurance cards, a few membership cards and punch cards, and cash
I'm in college, so I don't need to carry as much around with me as many other people do. In a Coach wristlet I have lip balm, keys (2 for dorm, 1 each car, my parents' house, and PO Box), phone, and a little wallet/coin purse with my drivers' license, AAA card, debit card, student ID, and about $20 cash.
Here's my point of view.
1. I keep paying my mortgage but my neighboors didn't and as a result the valueof my home plunge 50%. Basically good money is going down the drain each time I make a payment.
2. Now that we've seen the home owner's side, let's take a view at the lender's side. There are banks and financial institutions who go out there doing business, trying to make money. They make bad decisions and lose money, tons of money. First question is: why do we have to bail them out? If bailing out a home owner is wrong then why do we have to use "tax payers" money to bail out banks? After all, a home owner buy a house, things don't go as expected and he loses money. The same goes for the banks. One difference however, home owners get bad credit, corporations don't get anything. GM, for instance, wiped out their share holders, started fresh and plan on ... selling stocks.
Next question is: why can banks and financial institutions look after themselves and we, home owners, can't?
Sound outrageous? Wait, now that banks are making tons of money, they pay their executives hundreds of thousands if not millions of $$$ in bonuses, the same people who drove their banks to the edge of bankruptcy.
Now ask yourself what is fair and what is not.
Great tip! And it looks like other readers totally agree. I love it when readers add tips that I had never thought of. I don't think I've ever been to IKEA during the week since it's so far away for me. Well done!
One more thing - the Ikea at White Marsh in Baltimore has posted clocks that show, with green/yellow/red, the least crowded times @ the store.
I would also add - if you live close enough, make it two trips - one to mark down everything you need in a leisurely way, and another to get in and out as quick as possible. Also gives you a chance to go home and re-measure.
hunting and fishing both can provide a lot of food and it is a lot cheaper if you dont go crazy and start buying a bunch of stuff u dont need. a lot of people have this idea that you gotta have every bell and whistel that is out there on the market but all you really need is common sense.
I once made it in and out of the IKEA in 10 minutes. I knew exactly what I wanted - went in downstairs and grabbed it off the shelf. I also found that it is a good time to go around dinner time on the weekends. Usually people have gone early in the morning and are starting to leave around 4PM.
"shop" them online, and make a wishlist, then when you print, make sure the list indicates the location of each item that you want, that way you can head straight for the marketplace to choose your items and bypass everything.
Definitely go Monday though Thursday if you need to get in and out.
Never go during Spring break or any other time that kids are out of school. I learned this the hard way last week. It can ruin even a weekday trip.
Nice job. Budgeting will never be fun. But anything can be more fun than it might otherwise be.
GIven its been 2 years since this post and I have a similar goal as Xin Lu's, I wondered if the goal was still the same and how Xin's progress is toward meeting it.
There are a couple good barter / trade sites out there. I use CL and Baarter.com - http://baarter.com
Check 'em out. WIth this economy, it's definitely worth taking a look to see if you can swap something instead of paying for it.
I am a huge IKEA fan, but it can be totally overwhelming, especially the mouse-maze they take you through. It's designed to make you see everything. At least at the IKEA's here in California, if you look up you will see signs directing you to various sections, so you can bypass what you don't need.
I totally agree with going anytime but on a weekend. If you must go on a weekend, have a plan as mentioned in the article, and get there when they open. "Search and destroy", getting what you need and getting out.
Their prices are low because you do the heavy lifting (literally) yourself. If you are set on buying couches and kitchen cabinets, for example, bring at least a friend or two to help get stuff off the shelves and onto your cart. Those cartons are HEAVY. And bring a spacious vehicle.
Great Article Lynn!
I have worked for Big 4, Regional Firms, etc and it always amazes me when accountants fail to realize how important they are to small businesses and how much they can help! This beneficial relationship is sometimes forgotten by both parties, but proves highly beneficial.
Building a relationship with a good small business accountant is the first step toward long term success and planning - and the best relationship should resemble trust and detailed awareness in monitoring for excess spending, watching for delayed account collections, and maintaining an edge on industry news and tax changes/benefits.
Over the last two years and into the future a personal relationship with a small business accountant will provide profitable navigation through a roller coaster of tax law updates and new governmental packages. It is never too late to renew this partnership and increase your acceleration down the path of prosperity and success.
I look forward to reading more of your articles!
That does help. Watching the principle go down is what gets me through the slog period.
Thanks!
Yeah, that's a really good example of how debt works against happiness. You've already got whatever you borrowed the money for, so the connection between spending and satisfying a want becomes disjoint. Without that connection, the budget's power as a tool is reduced.
I don't know if this is any help or not, but since you mention debt-repayment: Remember that debt repayment is not an expense. Debt repayment is an internal transfer, just like putting money in your savings account. That doesn't make much difference (I mean, it doesn't mean that you don't have to make the payments), but when I was paying off debt I found that it helped me deal with the frustration of forking over the cash and getting nothing in return.
another thing, they send those out for advertisement!! how are u suppose to advertise your product if u dont send it out! netspend is the best and only prepaid debit card service that i actually like and if you disagree go to their site and see for yourself! its COMPLETELY LEGIT. one of the awesome things about it is no overdraft fees too!
i have a netspend card and ive been using it for a year now. besides the fees for checking your balance OVER THE PHONE, which is only 50 CENTS! there really is no problem with the card. i have my check deposited bi-weekly from my job which they do not charge you for. plus i get my check a few days earlier. and one thing i found that was convenient is that if i am a little short of money on my card they will let you be negative up to $10 when u use ur card. of course they take it out the next time you have money but its VERY CONVENIENT!
forgot to mention - i never had the luxury of getting benefits at any of my jobs. that's the reality for many of us out there. i worked for places that would never fire someone so they dont have to pay for unemployement. They know the job is miserable enough that you quit when you burn out. Now I'm trying to contribute to the economy by starting a business - you'd think i get a break! when i read about the sense of entitlement people have, for most laid off workers who post to think they somehow deserve continuing pay when they are not contributing anymore, it is pretty discouraging.
And it IS fair for those of us who werent laid off and have crappy jobs to comment on those who lost their jobs. They obviously made a lot more money than is necessary to get by, they had the choice of saving it or of blowing their revenue (which i still doubt is THAT much more "hard-earned" than any other minimum wage physical laborer). They made the choice, and experienced the benefits - vacations, fancy restaurants and food and cars and houses. Now they experience the downside - the responsibility. A little help, yes. A big salary for nothing, no.
I think unemployment is messed up! I have a 4.0 BSc degree from McGill, top U in Canada, a 4-year 4.0 Masters degree, worked through both of them, but havent found a high paying job so far. But I choose to work a lot and start a business. I make only 1200 a month... and last year I lost 6000 with my business. Can you imagine how thrifty I have to be? I do not get medicare because I'm right above the limit. It sickens me to read about people making 2000 doing nothing. And some even want you to feel bad for them because they have a mortgage on a nice house and have kids. Well for one, they chose to have kids. I chose not to, in part because I cant afford them right now and wouldnt want them to lack anything. As far as the house goes, I live in a decrepit apartment, and have dreamt of a house my whole life. But I haven't taken the leap because I don't expect people to come rescue me when I can't pay for it. I'm waiting til I can actually have almost enough in the bank to pay it off. Sick of people who choose security and hard work paying for those who choose luxury and risk.
The other thing is to note the shortcuts on the map. I think every store has sneaky hidden shortcuts that allow you to bypass big chunks of the store. Especially helpful if you need to go back to the start to get something you decided you couldn't live without.
#2a - Never ever go to Ikea on the weekend. I actually told my husband to take away the car keys if I ever said I was going to Ikea on Saturday or Sunday.
3 pages seems way to much to write every morning. I dont have that much time.
I completely agree with the sentiment of this post, but it assumes that you have a reasonably comfortable income and that your financial "house" is already pretty much in order. I started a budget almost 4 mos. ago and while it does provide me with a much-needed sense of security to know that my non-negotiable bills are paid and absolute necessities are provided for, I'd never say that having it is fun. When I tally up utilities, rent, food (a meager $20/week) and other debts, there really isn't much left for anything fun. I struggle to get even $25/mo in savings. I was hoping there would be some big secret in here to make it more fun for now, but I'm definitely going to aspire to put this into practice once my debt-repayment extravaganza is finished and there's more left after all the non-negotiable bills. Since my issue is income-based, I have considered getting a second job, but my time is worth more to me than selling even more of my life to some company.
Someday I'd LOVE to start taking art classes at the local art co-op, take classes at the YMCA instead of exercising at home, go back to school for the heck of it, cook more gourmet food at home and go on exciting road trips (for geocaching and camping!). Right now it's all still very much out of reach. But a girl can dream!