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Tagged With "Book Club"

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Re: Napkin Finance - An Intro to Budgeting

Nicole D. ·
@sthom , I love your debt paydown sticky notes idea! I'm sure whenever you see the notes, you're reminded to stick to your debt payoff plan. Also, kudos to all your budgeting methods! It sounds like you've got things covered using an app, spreadsheet and a pen-and-paper ledger.
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Re: Napkin Finance - An Intro to Budgeting

Sushil ·
@sthom I have this book on my Kindle, too, but I think the physical book will help bring the napkin illustrations to life.
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Re: Napkin Finance - An Intro to Budgeting

Michael J ·
Does anyone have a link to an Excel spending plan ? Does a stock template exist? tia, mike
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Re: Napkin Finance - An Intro to Budgeting

sthom ·
@Nicole D. , I use three methods so I can watch what I'm spending closely. Obviously I'm a bit anal but it also forces me to always be thinking of how I'm using my money. Yep, @Sushil , that's exactly right. There's something about hand-writing that helps me retain things. While I will use technology tools if they help me see things clearly, I am still pretty old-school (thus, the checkbook register, and the color coding in there actually helps me at tax time). Once I get the physical book,...
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Re: Napkin Finance - An Intro to Budgeting

Nicole D. ·
@Michael J , when you create a new spreadsheet in Excel, you can actually select from various budget templates. There's a "personal monthly budget" template, which is a great option -- but if you have specific needs like budgeting for a small business or budgeting for a wedding, there are other budget templates you can choose from. Tiller Money is also an excellent spreadsheet budget software. It comes at a cost, but you can test it out with a free trial.
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Re: Napkin Finance - An Intro to Budgeting

Michael J ·
Awesome- thank you for the information!!
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Re: Napkin Finance - An Intro to Budgeting

Brigat ·
I don't have a copy of the book yet, but I just had to chime in. I've heard a lot about the 50/20/30 budget method, but have never tried it. Maybe 2021 will be the year!
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Re: Napkin Finance - An Intro to Budgeting

KellyFromKeene ·
I am a pen-to-paper kind of budgeter, and I live by The Budget Mom's method! I have been using it for about 3.5 years and it has worked wonders for me. I find budgeting for myself to be easy enough, its when you have to mix in other people (partner, kids) where it is a challenge. (But I'll happily take those challenges 🙂 )
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Re: Napkin Finance - An Intro to Budgeting

Nicole D. ·
Yes, @Brigat ! Let 2021 be the year you try it! And @KellyFromKeene — I love The Budget Mom, too. :-) Maybe if you can get your partner and kids interested in The Budget Mom videos or show them the cool graphics from "Napkin Finance," they'll jump on board too. Good luck!
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Re: Napkin Finance - An Intro to Budgeting

irishnanny ·
haven't read the book ,its nice to see every ones comment on it, i elarn a lot from you all thank you
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Re: Napkin Finance - An Intro to Budgeting

PiNaY ·
I have yet to read this book. Thank you for the highlights! I love and follow The Budget Mom. I first learned of TBM in The Penny Hoarder newsletter in October 2019.
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Re: Napkin Finance - An Intro to Budgeting

Constance Ruse ·
Yes, please.
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Re: Napkin Finance - An Intro to Budgeting

Burgandy ·
I haven’t read yet but will soon.. I am currently reading Rachel Cruz new book and am enjoying it... I am in for book club..
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Re: Napkin Finance - An Intro to Budgeting

Nicole D. ·
@Burgandy , Rachel Cruze's new book is definitely one I want to check out! I'm so interested in the topic of knowing one's money mindset. Glad you're enjoying it!
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Re: Napkin Finance - An Intro to Budgeting

Burgandy ·
Thank you!
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Re: Coming in January...The Penny Hoarder Book Club!

lismox ·
Do we know the title of next month's book yet? I was hoping to get a jump on it by ordering it on Amazon.
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Re: Coming in January...The Penny Hoarder Book Club!

Nicole D. ·
Hey @lismox ! We haven't decided on the next book club pick yet but we're hoping to make that announcement soon!
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Napkin Finance - An Intro to Budgeting

Nicole D. ·
Hey, everyone! What’s the best tip you’ve learned from “Napkin Finance” so far or any other budgeting tips that have worked well for you? I hope you’ve all had a chance to pick up a copy of “Napkin Finance” by Tina Hay. Even if you haven't, the book covers so many different aspects of personal finance and I welcome you to join in on our discussions! For those who are reading: How are you liking the book so far? I really like how “Napkin Finance” uses graphics to illustrate different...
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Re: Coming in January...The Penny Hoarder Book Club!

GM ·
Great idea @lismox - I'm going to order on Amazon too!
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This week’s Community Announcements 1.22.21

Maryann ·
Hi everyone, Happy Friday! ICYMI: we launched a book club ! The Penny Hoarder’s senior writer @Nicole D. is helping us take a deep dive into different money-focused books. And, the discussions will take place right here in the community. Our first book pick is “Napkin Finance” by Tina Hay. “Napkin Finance” is chock-full of clever infographics designed to explain complex money topics in an easily digestible way. Nicole published the first of several weekly discussion threads in the community...
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Napkin Finance — How Are You Preparing for Retirement?

Nicole D. ·
What are you doing to prepare yourself for retirement? If you're reading along, what tips have you found helpful from “Napkin Finance?” I don’t know about you, but I wish I had a time machine to send me back about a decade so I could get an earlier start on saving for retirement. I struggled with money in my 20s and didn’t have enough financial savvy to truly grasp the importance of starting at a young age. “Napkin Finance” is one of those books that people of all ages should get their hands...
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Re: Napkin Finance — How Are You Preparing for Retirement?

Brigat ·
I still don't have my copy of the book yet, but I can speak to retirement planning. I retired early 2.5 years ago. While I don't regret my decision, I could have been better prepared .One way I could have achieved this would have been to roll over 401k balances when I left a job instead of sometimes cashing out.😚
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Re: Napkin Finance — How Are You Preparing for Retirement?

Nicole D. ·
Good advice, @Brigat ! What are some of the things you did that helped you save up for retirement?
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Re: Napkin Finance — How Are You Preparing for Retirement?

Brigat ·
One of the things I did was to participate in my employer's 401k plan. I started out with the minimum and gradually increased it to the maximum. At first I felt like I couldn't live without that money in my paycheck, but once I made saving a priority, it became easier.
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Re: Napkin Finance — How Are You Preparing for Retirement?

BBlaine ·
I give 10 percent to 401k 100 a month to separate Roth account and try to save 100 a month an a less then 33000 a year job
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Re: Napkin Finance — How Are You Preparing for Retirement?

Nicole D. ·
Great job, @BBlaine ! I think a lot of people feel their salary isn't big enough to save for retirement but you can save at any income level.
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Re: Napkin Finance — How Are You Preparing for Retirement?

Sushil ·
I've been trying to allocate as much as possible to my retirement accounts. Like Nicole, I wish I had done more earlier, but I feel comfortable with my current allocations. It's a journey, for sure.
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Re: Napkin Finance — How Are You Preparing for Retirement?

KellyFromKeene ·
I remain with an employer that pays a fabulous (!) retirement contribution. I started mine at about 40, so I have some catching up to do.
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Re: Napkin Finance — How Are You Preparing for Retirement?

Theodora ·
@KellyFromKeene I have done the same and have focused on growing my money through real estate as much as possible.
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Re: Napkin Finance — How Are You Preparing for Retirement?

Nicole D. ·
@KellyFromKeene , getting a great employer match is awesome. Free money! And @Theodora , love that you're diversifying with real estate!
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Re: Napkin Finance — How Are You Preparing for Retirement?

Theodora ·
Love the "napkin" infographics! Thanks for adding that to your post, @Nicole D.
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Re: Napkin Finance — How Are You Preparing for Retirement?

KellyFromKeene ·
I think many of us do not really look at this closely when considering employers. I fell into my job, but the unheard of retirement contribution makes me stay.
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Re: What are some good books to read?

lismox ·
I'm currently reading the book "Happy Money" by Ken Honda. It's good, and I recommend it. I got it from my local library. Here's the Amazon.com link: https://www.amazon.com/Happy-M...p;s=books&sr=1-1 I also think this would be a good book for our book club @Nicole D.
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Re: What are some good books to read?

Nicole D. ·
Thanks for the recommendation, @lismox ! I hadn't heard of that book. It seems interesting! We still haven't selected our next book club pick, but I'll be sure to let you know when we do! We want to give people plenty of time to pick up the book and start reading. 🙂
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Re: Ready for Tax Season? — Napkin Finance

Theodora ·
In the past, I used TurboTax which I loved...but then my taxes became a bit more complicated and now I use a professional preparer. It gives me some peace of mind that she is trying all the angles to get me the greatest return. I do recommend TurboTax which I know has only improved since I last used it -- with the added option of getting professional advice.
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Re: Ready for Tax Season? — Napkin Finance

redcatcec ·
Ours are done professionally as well, if there are any problems, they will represent us and that gives peace of mind. This year rather than meeting with customers, they have sent a large return envelope addressed to them, we can either mail in or drop off our documentation and deductions. Also enclosed was a table of how much they will charge based on prep time and complications.
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Re: Ready for Tax Season? — Napkin Finance

KellyFromKeene ·
I use Turbo Tax and love it. Used to use Tax Act because it was free, but paying a small amount to file for my tax credit housing return is worth it.
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Re: Ready for Tax Season? — Napkin Finance

Brigat ·
Sadly, I still don't have a copy of the book (my local library is taking longer than I thought it would), but I really like the graphic. We typically get our taxes prepared for free through the VITA program. Since the IRS isn't accepting returns until Feb. 12th and because of the pandemic, I'm not sure how we'll file this year.
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Re: Ready for Tax Season? — Napkin Finance

Demi Candri ·
This is my first year ever having to file for taxes and I am a little worried, anyone have any advice on the best way to ensure I get the best return (as a college student who is trying to make it on their own)?
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Re: Ready for Tax Season? — Napkin Finance

Nicole D. ·
@Brigat , I believe that some VITA sites are providing virtual tax prep help — though it may not be offered everywhere. Check what your local sites are doing in response to the pandemic.
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Re: Ready for Tax Season? — Napkin Finance

Dear Penny ·
Hey @Demi Candri , good for you for thinking about your taxes already! I'd echo what other members of the group have said. TurboTax, H&R Block, TaxAct etc., have great free filing services. They'll walk you through every step and ask you questions to make sure you're getting every deduction and credit possible. For example, they'll ask you some questions about your education expenses and figure out for you whether qualify for certain credits that could give you a bigger return. The...
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Re: Ready for Tax Season? — Napkin Finance

Amy_patt ·
So I work for a tax prep company. Im not a tax preparer, but I am a supervisor in the national call center and I've trained for every dept we have , giving me a unique view of The Life of a Tax Return. First I just want to be clear, file free on irs.gov is not actually filing with the IRS. They direct you to 3rd party software. And if you have monumentally complex returns you won't qualify for the free file. Second every state is different. Even though we all file the same federal form,each...
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Re: Ready for Tax Season? — Napkin Finance

Amy_patt ·
Keep an eye out for your parents and grandparents. Tax season is notoriously popular with scammers targeting the elderly. There are also non profit volunteer groups of former CPAs, tax preparer, IRS agents all hanging out to help our old folks get their taxes done right and for free.
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Re: Ready for Tax Season? — Napkin Finance

RAS4 ·
My pet peeve each year is gathering documentation and compiling totals to submit to the folks who do our taxes. I have a small side business so want to maximize on deductible expenses. I use an excel spread sheet, but does anyone have suggestions or a more efficient tool, app, software or spreadsheet to use? Should I be using QuickBooks?
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Re: Ready for Tax Season? — Napkin Finance

PiNaY ·
I have a CPA who prepares my personal and business taxes. It’s too complicated!
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Re: Ready for Tax Season? — Napkin Finance

Ann Rippel ·
Tax preparer does ours. The preparation by the professional gives us peace of mind. However, the cost for the accountant goes up every year.
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Re: Ready for Tax Season? — Napkin Finance

Arica ·
I get peace of mind not missing deductions or making mistakes so I went back to using a professional.
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Re: Ready for Tax Season? — Napkin Finance

lismox ·
I use an accountant. She is very thorough, and I trust her. I don't think I could ever go back to doing my own taxes for my husband and I. They're just too complicated, and I don't want to mess anything up.
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Re: Ready for Tax Season? — Napkin Finance

lismox ·
Re: Ready for Tax Season? — Napkin Finance
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