Tagged With "financial"

Topic

Financial Accomplishments (SHARE YOURS)

Moore Income ·
Every small step in the right direction is one step closer to the goal! When it comes to financial fitness, every accomplishment (no matter how small) is important, as it helps you create a better financial future. Even something as small as not buying a coffee and instead putting that money you would have spent into savings is a financial accomplishment worth celebrating. The more times you do these small things, you begin to create good financial habits that you will carry with you the...
Topic

How did you get started working towards your financial goals?

Briana ·
Learning about how to manage your finances is hard! Today, we are inundated with tons of personal finance content - do this, don't spend that - but what's the right advice? Where do we start? For me -- it's the whole "pay yourself first method," which is exactly what I've started doing to start building a savings (and travel fund!) Each paycheck, I'm intentionally depositing a portion of each check into my savings account - that I'm not allowed to touch. Instead of going out to eat numerous...
Topic

How I Live On 50% Of My Net Income

Rob Loftus ·
When I saw the light New Year’s Eve, 2017. Uninspired, broke, living paycheck to paycheck. While trying to celebrate the coming of the new year, in my very first tuxedo, and at a very nice winery, I found myself miserable. Most noteworthy, my amazing mother, who was visiting and I hadn’t seen in years due to living a few thousand miles from one another, is a VERY upbeat and positive ray of sunshine. As a result, she, AND my realization I was failing at ‘adulting’, were my catalyst for...
Topic

How to Organize Your Financial Life With a Budget Binder

Ashlee ·
Having troubling keeping up with everything in your financial life? A budget binder can help. Here's how to make one! Have you tried this approach to budgeting? I would love to hear more about your budget binders.
Topic

Life Insurance, Disability Insurance, Wills, etc

Nicole ·
Part of financial well-being is also being prepared to protect you & your family should something terrible happen. Do you have Life Insurance, Disability Insurance, Critical Care Insurance, a Will? If you do, how often to you make sure it still suits you & your lifestyle? (eg will only lists 2 children & now you have 3, life insurance would pay off your mortgage but now your mortgage is paid off)
Topic

Reading Goals

Moore Income ·
I have so many books in my library that I have purchased (mostly financial topics) that I have been telling myself I need to read but just haven't gotten to yet. Because of this, and also because I believe the saying "Readers are Leaders", I have made it a goal this year to read at least 2 books a month. I completed this goal in January by reading " How to Win Friends and Influence People" by Dale Carnige & " Sell or Be Sold" by Grant Cardone For February, I have already read "The...
Topic

Stop the Paycheck to Paycheck Cycle by Being Mindful of Your Financial Habits

The Saving Scientist ·
How’s this for a truth bomb – the life you are currently living is mostly the sum of all your habits. Read the following article to find out 10 financial habits that may be getting in the way of achieving your long-term goals: Stop the Paycheck to Paycheck Cycle What are some habits that you've discovered that get in the way? I'd love to hear your own experiences.
Topic

What is the worst financial advice you've ever received?

BeckAtsila ·
I'm feeling playful today--what is the worst financial advice you've ever received? Mine was so bad it was epic and funny, at least to me. I am a professional author of a trade paperback and two e-books, one of which is self-published. This "make a six figure income and travel the world" guru wrote that you could get a six figure income by hiring a ghostwriter (I've done that, too) to write 100 books and sell them on Kindle. This is funny to me because of what all goes in to writing a book.
Topic

Who taught you your most important money lesson and what was it?

Briana ·
Growing up, I didn't necessarily have one specific person I leaned on for financial advice. But I spent a lot of time watching how my own parents struggled, which taught me that I didn't want to do the same. Now, I actively pay attention to what I can and can't afford and how to set myself (and my future family) up for more financial success. What's one money lesson you've taken with you?
Topic

A beginner's guide to investing

The Saving Scientist ·
Hey Penny Hoarders, For the longest time, I thought that investing was reserved for the financial elite. I didn't really understand the terminology and it just sounded too complicated to be worth my time. A year after starting investing, I now know so much more and I'm happier (and wealthier) because of it. Investing is the best (and most effortless) way to create wealth. I've written down some thoughts for people who are also only starting out on their investment journey. You can find it...
Topic

Can Budgeting Come with Baggage?

The Saving Scientist ·
Similar to how we enter into new relationships with some of our own baggage, we tend to do the same with our relationship with money. One area that often carries the most is budgeting. If I can draw parallels with emotional baggage, our mindset about budgeting may simply be caused by our unwillingness to address unresolved issues and fears. Is the stress of creating a budget caused by the fear of having to face the amount of debt you owe? What if it’s too overwhelming? Are you delaying your...
Reply

Re: Life Insurance, Disability Insurance, Wills, etc

NanaWaller14 ·
Universal Life is a ripoff! Buy Term and shop for long term care separately. You'll save money.
Reply

Re: How to Organize Your Financial Life With a Budget Binder

AverageJoe ·
Excellent idea! I haven't seen anything that compares with it. It's easy to use and tracks everything one needs to track. I'd recommend it to my friends and family if they were looking for a way to track expenses.
Reply

Re: How to Organize Your Financial Life With a Budget Binder

KellyFromKeene ·
That is very similar to The Budget Mom's Budget by Paycheck Method/Workbook. Great ideas, and it has been working for me and a friend who has been doing it with me. The binder is good to personalize it- I use the pictures that track savings for specific expenses, but they are not part of the workbook. The binder is great- you can start right away and its a small investment to make it work for you.
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Olivia ·
Our budget book is a life saver. The great side benefit is it keeps communication open between my husband and I. We always know what we have in each category and can make decisions accordingly. If we don't have it, we don't spend it. Once we decide on what to put into each category, the budget is the "bad cop" and keeps us in line.
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Ashlee ·
I love that you use the budget as the "bad cop" for accountability @Olivia . Such a great idea to prevent finger pointing when things aren't going well in a certain category. My family currently just uses an excel spreadsheet, but I may have to incorporate pictures like you do @KellyFromKeene and start a binder. Having something you can flip through/hold in your hands with great visuals makes budgeting sound more fun!
Reply

Re: How to Organize Your Financial Life With a Budget Binder

MountainFan ·
After reading some of The Budget Mom's posts, I was looking into making something like this for my home. I was so happy to see this article from The Penny Hoarder shortly after, it was uncanny! I like to combine this idea with bullet journaling a little, making my own mash-up version. I love it.
Reply

Re: How to Organize Your Financial Life With a Budget Binder

KellyFromKeene ·
@MountainFan , I'm a big fan of TBM. So glad I found her method!
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Zara Zoey ·
It is really helpful! Considering I have had a stressful year! Hopefully my 2019 resolution would be to organize with a budget binder.
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Moore Income ·
This is really helpful information. Budgets have been the hardest thing for me to keep when it comes to financial fitness. 2020 is going to be the year my wife and I change that! My wife and I have been good about tracking all our expenses on paper but having a budget binder that tracks multiple different aspects of your finances in an organized manner will be really helpful for us!
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Leslie Kay ·
I am starting a new budget program on the 1st of the year. I have tried everything I believe just going back to paper and pen may be a good option for me as well. Thanks for the info.
Reply

Re: How to Organize Your Financial Life With a Budget Binder

charlottel ·
Love using the Budget Binder. it really spells everything out for you to see it on paper and how much you are spending in a certain area.
Reply

Re: How to Organize Your Financial Life With a Budget Binder

sthom ·
I like this Budget Binder idea and it's similar to what I've used in the past (not a book, but spiral college notebooks) and would have continued to use ...if I hadn't gotten used to and spoiled with Mint and my Excel spreadsheet. The outcome/effect is the same, but now I don't have to worry about amassing more paper to the heaps I already have. My brother uses a Budget Binder similar to this. I think I'll send him the link and see if he wants to try this one out. Thanks for posting this...
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Jobelle Collie ·
I used this method from 1978 to 1998, when I got my first PC and Excel. I watched my Parents and Grandparents use the Budget Binder for both their home and business budgets. I still have them and think back on the amounts. My Grandparents mortgage was $16/month and they worried all through the Great Depression. My Parents mortgage was $121/month and their Parents thought they were crazy in 1959 to go into debt for a $7000 home! I look back at my budgets and saw I only earned $525/month in...
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Jobelle Collie ·
The first few months of living on a budget or spending plan is difficult. Because you see money in the accounts and you see something you’d like to buy. But remember, the money left in the accounts IS money already spent (earmarked) for a bill that will arrive in the future. If you can stick to the budget for the first few months, I PROMISE financial life will get so much easier! When the bills are all paid, you will sleep sounder and you won’t fret over an upcoming event. Birthdays and...
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Olivia ·
Hello Jobelle! Thanks for your notes. We never made much, so it's taken a while. We found the first couple years of budget keeping to be a bit hairy as we tried to figure out how to handle unplanned expenses. Like the car dying, or having a preemie with medical issues. Since then, setting up an emergency fund really helped. It's taken years of incrementally paying these unexpected expenses off and careful spending to finally have one. We plan for what we can, (the next car), and finally have...
Reply

Re: How to Organize Your Financial Life With a Budget Binder

Jobelle Collie ·
Olivia, I hope your baby is growing up and thriving! My granddaughter was born with complications and ten days in NICU made a bill close to $800,000! Thankfully, all members of our family chipped in and paid that bill in full. It’s only because we are budget nerds for generations that allowed us to pay that bill. I’m glad your family has an emergency fund in place for those times when “Murphy” moves into the spare bedroom. I hope you and I can spread the benefits of having a budget in place.
×
×
×
×