OT: Budgeting
It is very easy to say no to myself. I do not feel I am worth it (self-esteem issues). But it kills me to say no to my family. When my son wanted a Playstation 3 and I could not get it for him for Christmas it was really hard. I do without myself so I can do more for others...but I could not swing it. When you buy the system, accesories, games...the price is staggering.
I cut corners where I can so I can splurge at other times. I am lucky and have a steady job with health insurance that isn't too expensive. It doesn't pay a lot, but it is enough to cover all the basics. The bottom line for me is that all the bills get paid first. My Mom taught me that lesson.
I remember one Thanksgiving my Dad was laid off. I was 8 or 9. She did not take the free turkey from the Salvation Army. She said she could afford to make us all a meatloaf dinner and that someone worse off than us could use the turkey. She was a fantastic role model. I remember some families that were better off than us took more than one turkey...but we had meatloaf that year. That Thanksgiving showed my Mom's character. I hope to be that kind of example to my son.
I pay our bills first, volunteer and give back to our community and if there is any money or time left...splurge & have fun. That is why I could get a mortgage to pay for my surgery, I have a fantastic FICO score and the bank does not see me as a risk at all even though my income isn't that great.
Hope that helps Lynn.
Sara
I cut corners where I can so I can splurge at other times. I am lucky and have a steady job with health insurance that isn't too expensive. It doesn't pay a lot, but it is enough to cover all the basics. The bottom line for me is that all the bills get paid first. My Mom taught me that lesson.
I remember one Thanksgiving my Dad was laid off. I was 8 or 9. She did not take the free turkey from the Salvation Army. She said she could afford to make us all a meatloaf dinner and that someone worse off than us could use the turkey. She was a fantastic role model. I remember some families that were better off than us took more than one turkey...but we had meatloaf that year. That Thanksgiving showed my Mom's character. I hope to be that kind of example to my son.
I pay our bills first, volunteer and give back to our community and if there is any money or time left...splurge & have fun. That is why I could get a mortgage to pay for my surgery, I have a fantastic FICO score and the bank does not see me as a risk at all even though my income isn't that great.
Hope that helps Lynn.
Sara
R K.
on 4/21/11 4:45 am, edited 4/21/11 4:46 am
on 4/21/11 4:45 am, edited 4/21/11 4:46 am
Well you could write a book. Start with houses. How big do you need? Most families with 3 kids back in my day had about 1500 sq feet and 1 +1/2 baths or maybe 2. Now kids need 3K sq feet 4 bedrooms and 3 baths. No fixer uppers either.
Everybody needs an SUV with a 6 year payment. Then there is clothes. When the US was still making them I hauled the same stuff to Macy's as I did to Kmart. How many times do people need to eat out a week?
Back in the early 80's we stopped using most credit. If we couldn't pay cash then we didn't need.
Everybody needs an SUV with a 6 year payment. Then there is clothes. When the US was still making them I hauled the same stuff to Macy's as I did to Kmart. How many times do people need to eat out a week?
Back in the early 80's we stopped using most credit. If we couldn't pay cash then we didn't need.
*
"If I only had three words of advice, they would be, Tell the Truth. If got three more words, I'd add, all the time."
— Randy Pausch
"If I only had three words of advice, they would be, Tell the Truth. If got three more words, I'd add, all the time."
— Randy Pausch
Roger, my daughter and SIL are living in a house that they see as "too small" for their famiy of 5. It has 3 bedrooms (not big, but adequate) and 1 1/2 baths. Semi-finished basement (best you could do in an older house). They would love to move but the market isn't great where they are in MIchigan so they will stay put and it will save them a LOT. I told her that many many people have raised their families to be happy and healthy in much LESS house than what they have right now!!!
R K.
on 4/21/11 11:08 pm, edited 4/21/11 11:09 pm
on 4/21/11 11:08 pm, edited 4/21/11 11:09 pm
The line between want and need has been both blurred and perverted.
Cell phones, 300 channel cable, flat screens, satellite radio, new Suvs, houses with more then 300 to 400 sq feet per occupant, restaurant meals, video games, designer clothes and home deco, landscaped lawns, high priced hair salons and nail salons, etc, etc, etc. All wants and not necessary unless you can afford them.
If you have all your bills paid and a reserve fund and then want that stuff go for it.
Cell phones, 300 channel cable, flat screens, satellite radio, new Suvs, houses with more then 300 to 400 sq feet per occupant, restaurant meals, video games, designer clothes and home deco, landscaped lawns, high priced hair salons and nail salons, etc, etc, etc. All wants and not necessary unless you can afford them.
If you have all your bills paid and a reserve fund and then want that stuff go for it.
*
"If I only had three words of advice, they would be, Tell the Truth. If got three more words, I'd add, all the time."
— Randy Pausch
"If I only had three words of advice, they would be, Tell the Truth. If got three more words, I'd add, all the time."
— Randy Pausch
- Thrift shops - have definitely become a fan
- limiting use of credit cards to absolute necessity - don't buy it unless you can afford to pay for it outright without credit card charges. I dug myself out of 30k in debt.. a lesson I learned the hard way - now I only have amex.
- check on line for coupons to stores before you go - so many places have them on their web sites to print
- pay down debt wherever possible to minimize interest paid out
- we got rid of our home phone and just have cell phones
- get rid of premium channels on cable - netflix is cheaper
- there are also areas that have reduced sales tax in order to bring in business - worth it if there is a sizeable purchase to be made
- have yard sales to bring in some $ - it is actually kind of fun.. organize it with your neighborhood so it draws more people - put up signs and get everyone to share the $50 it costs to put an ad in the paper..
- when you need to purge clothes - consign them - I really should have done this more than I did when I got rid of my clothes.. but instead, I shared them with other folks on their way down in sizes because I wish I had someone to pass them on to me
- look at your car insurance and shop around.. a lot of companies have better pricing than was available before - we change carriers for Mark and went down by almost $200 a year!
- depending on age - there are discount programs through aarp - Mark is very unhappy that I enrolled him.. but.. oh well - he'll get over it :) - also starting at age 50 there is a "catch up" payment that allows more pre-tax savings in a qualified plan
- we have a mutual fund that we use for our "emergency" money so it is at least earning something.
- Keep $ in the savings account that collects interest as long as possible, transfer to checking when needed.
- we have a jar that we keep change in and the change goes in every day - we then cash in that $ that we didn't miss and buy something that we normally would not have..
buy a water filter rather than buying bottled water and get your own refillable water bottles. (we opted for water delivery instead and still saved over buying bottled water).
hope some of these thoughts are useful.
- limiting use of credit cards to absolute necessity - don't buy it unless you can afford to pay for it outright without credit card charges. I dug myself out of 30k in debt.. a lesson I learned the hard way - now I only have amex.
- check on line for coupons to stores before you go - so many places have them on their web sites to print
- pay down debt wherever possible to minimize interest paid out
- we got rid of our home phone and just have cell phones
- get rid of premium channels on cable - netflix is cheaper
- there are also areas that have reduced sales tax in order to bring in business - worth it if there is a sizeable purchase to be made
- have yard sales to bring in some $ - it is actually kind of fun.. organize it with your neighborhood so it draws more people - put up signs and get everyone to share the $50 it costs to put an ad in the paper..
- when you need to purge clothes - consign them - I really should have done this more than I did when I got rid of my clothes.. but instead, I shared them with other folks on their way down in sizes because I wish I had someone to pass them on to me
- look at your car insurance and shop around.. a lot of companies have better pricing than was available before - we change carriers for Mark and went down by almost $200 a year!
- depending on age - there are discount programs through aarp - Mark is very unhappy that I enrolled him.. but.. oh well - he'll get over it :) - also starting at age 50 there is a "catch up" payment that allows more pre-tax savings in a qualified plan
- we have a mutual fund that we use for our "emergency" money so it is at least earning something.
- Keep $ in the savings account that collects interest as long as possible, transfer to checking when needed.
- we have a jar that we keep change in and the change goes in every day - we then cash in that $ that we didn't miss and buy something that we normally would not have..
buy a water filter rather than buying bottled water and get your own refillable water bottles. (we opted for water delivery instead and still saved over buying bottled water).
hope some of these thoughts are useful.
Maura
(deactivated member)
on 4/22/11 10:24 am, edited 4/22/11 10:28 am - Hatboro, PA
on 4/22/11 10:24 am, edited 4/22/11 10:28 am - Hatboro, PA
This is certainly an interesting topic, as getting ideas for budgeting is certainly something that I need help with! I try making a budget, but for whatever reason I can never seem to stick with it. Right now my strategy is to hold out and find myself a sugar daddy...... but that hasn't worked out for me yet, so I'm not going to hold my breath waiting. LOL
I've found the best way for me to be able to save money is to have money automatically put into a savings account. Luckily for me the County has an employees credit union, so every payday my money is deducted automatically from my paycheck and put into my credit union account. The credit union doesn't offer MAC cards, so if I want to deduct money I have to call up and they will mail me a check. Since it isn't easily accessible, I can't spend it as frivolously when I'm out shopping, etc.
I've found the best way for me to be able to save money is to have money automatically put into a savings account. Luckily for me the County has an employees credit union, so every payday my money is deducted automatically from my paycheck and put into my credit union account. The credit union doesn't offer MAC cards, so if I want to deduct money I have to call up and they will mail me a check. Since it isn't easily accessible, I can't spend it as frivolously when I'm out shopping, etc.
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