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menlomam says...

Money Management During Tough Financial Times

Personal money management can absolutely be a challenge, especially when you are tight on cash. Payday never seems to come in time, and your pockets probably feel empty long before the bills have all being paid up. Here are some basic but essential tips for money management that can help...


financial-> coming-> household-> budget-> times-> financially


  • Household Budget Software Review: YNAB Pro (You Need A Budget) If you’ve been reading our blog for any length of time now, you know that we use Quicken to maintain our household budget. We recently were given the opportunity to review You Need A Budget Pro (YNAB) (budget software for your personal finances) and so out of curiosity we decided...
  • Household Budgeting On $800 A Year Photo courtesy of GoldenEel Yes, you read that correctly. Could you live on $800 a year, excluding utility bills, clothing, gifts, car, and house? Your reaction is probably like mine - what's left?  Well, a lot, actually.  Consider how much money leaks through your budget on things like food,...
  • Pay Off Debt Before Baby? Over the last few weeks I've seen a frequent search term that leads people here to Frugal Dad:  "Should We Pay Off Credit Card Debt Before Having a Baby?"  I make two assumptions from the volume of hits I've received--there are a lot of people interested in having a baby,...
  • Winning the Daily Cash Flow Battle The development of our household budget has been a wild ride. After we first married, some ten years ago, we rarely sat down to discuss finances, detail a monthly budget, or even discuss longer term plans such as retirement goals, etc. Over time I took on the role of handling...
  • Do Money and Happiness Go Hand-in-Hand? How many times have you said to yourself: If I only had a few extra thousand dollars a year, all my problems would be solved? The truth is that money usually has very little to do with your personal level of happiness. In and of itself, money possesses no...
  • How to negotiate debt settlement Technical Tips for Successful Debt Negotiationi) Any settlements you achieve, make sure you get them in writing. Keep copies of all your communication with your creditors including letters, phone calls notes, etc for future reference.ii) Negotiate to settle debts with those creditors with the lowest balance first. Once those debts...
  • Being A Full-Time Parent Has More To Do With Sacrifice Than Luck   Photo courtesy of TedsBlog When my wife and I first discussed having children we were both on the same page when it came to determining the primary care provider--their mom.  We knew living on one income would take some sacrifice, but it was one we were willing to make. ...
  • Only 200 Saving Days Until Christmas With less than 200 days (185, to be exact) until Christmas it is comforting to know that our budget debacles of previous years will not repeat themselves. For the last several years, the weeks leading up to Christmas were often spent hunting last-minute gifts while trying not to disrupt the...
  • receipts Creating a Household Budget With economic times being what they are, even people who have been more casual about their spending are now creating a household budget. A budget should not be seen as a restriction, telling you what you can't spend, but rather as an empowering tool, letting you know what you can...
  • Household Budget - Give Your Budget Goals the Once Over Odds are that you routinely re-evaluate the big choices that you make in your life all of the time. As you become more educated about the benefits of a healthy diet, you might make changes to the foods you eat. Completing a degree might make you reconsider your career choice....
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  • How to Save and Store Critical Financial Information For Your Family What would happen if you didn't wake up tomorrow? What if you never made it home tonight? Or what if you had a temporary disability that prevented you from fulfilling your financial responsibilities? I've written about this before, but a story from my husband's work inspired me to write about...
  • Advantages Of Owning A Finepix Digital Camera What is so Great about owning a finepix digital camera anyway? There are many plus points of owning this camera and these plus points include: 1) Very Affordable If you are on a low budget and you need to have a camera to take pictures with because lets face it,...
  • financial news Turner dying to beat the bank's bonuses Chairman of the Financial Services Authority (FSA) Lord Turner revealed during a recent interview that in order to prevent excessive bonus payments he consider imposing a tax on banks. The FSA chairman also stated that the financial services sector had "grown beyond a socially reasonable size". Lord Turner did...
  • (AFX UK Focus) 2009-08-31 00:01 HIGHLIGHTS-Japan Democrats quotes on forex, bonds (Interactive Investor) (For more on Japan's election click) Aug 31 (Reuters) - Japan's main opposition Democratic Party, which won a historic victory in an election on Sunday, has promised to pry control of policies from bureaucrats to cut waste and reorient public spending to benefit households. Financial markets are keen to know...
  • Top Ten Places To Relocate Or Retire The August 2009 edition of Money Magazine featured their annual list of 100 best places to live. The copy arrived in my mailbox around the same time my wife and I were discussing the possibility of relocating in the future. In the short-term, we are satisfied with where we live,...
  • ftse100cnbc Good Time For Canadians and Americans To Buy UK Dividend Stocks For Income on the Cheap This is a guest post from The Investor, the publicity-shy blogger who writes about money and finance on Monevator.  If you like this post, why not subscribe to his free RSS feed for similar posts on money and investing topics?  You may also follow him on Twitter @Monevator. Why...
  • Forex- The Information One Must Know About Forex market may become your chance to gain financial stability and independence. At the same time it may be the place where you lose all your money. But it is up to you which option to choose. Forex market is so popular now that even housewives want to trade. Numerous...
  • Living on 50% of My Income and a Media Fast Lately, I spend way too much time sifting through the news and blogs for the latest updates on the economy.  While doing that, I sometimes get distracted by the "most popular news" headlines and who knows what else.  Frankly, it's getting in the way of my work.  So I'm taking...
  • no-money-wallet Media Planning Basics 4: The Budget So, you know what the client wants, you have explored what happened before you got involved, and you’ve established clear KPIs. Now you’ve got to solidify the budget. The budget might come to you in any of the following ways: You (the media planner) come up with it, and you...
  • Around the World in Eight Big Charts It has been another generally constructive week for world financial markets with no real signs of stress worth noting appearing in any of the risk indicators that we look at. Whatever is driving macro trends in financial markets remains very strong. We are still intrigued by the level of disbelief...
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  • How To Think Like The Enemy It is important to realize that we are living in a changing world, and that we cannot fight modern wars with the same mentality with which we fought wars in the past. The extremists of today are much different than the ones of the past because of the effects...
  • If You Are Considering Buying a Home, Read This First! In Indiana, the flood gates have been open and a first time homebuyer can get up to $25,000 from the state of Indiana to purchase a home.  You may also qualify to get an additional $8,000 from the federal government. Never before has there been such an incentive for buyers...
  • Money-Making Strategy Right at your Fingertips! Are you not happy with your job? Do you feel like you’ve overworked and yet underpaid? Do you think your pay’s not enough? Do you have to drag yourself in waking up in the morning just be in your office on time? Now, if these questions cloud your mind then...
  • Barack Obama & Hillary Clinton ?!! This 2008 democratic presidential nominee race is turning out to be one of the closest races in a long time. Many of the state primaries were decided by a small margin and there were not many blowouts in large states. As it stands now, Hillary Clinton has a slight lead...
  • 5 Types of Free Traffic - List Building for Beginners Step 2 Generating website traffic for free will take a little time and effort in the beginning to establish funnels to increase website traffic. Without question, paying for traffic will get you instant results, but it is very important you learn how to get free website traffic. Believe me, it is a...
  • Best motivation so far to blog anonymously Why do you write anonymously? I’ll never take anything you say seriously unless you’re willing to put your real name on it. For all you know, everyone writes anonymously, but you just bought it when they signed their posts ‘Mark.’ The fact of the matter is that...
  • Installing a Water Filter? Whole House Works Best A serious reality that has just touched based with a lot of households in the United States is the use of water filters. With water borne diseases on a rise, families are starting to realize the importance of having a water filter installed at home. Most urban and suburban centers get their water source form municipal reservoirs where water is refined and recycled from waste and other water sources. There are times when water companies have over compensated chemicals like chlorine and fluoride in water to kill bacteria in water.
  • Automating your finances Automating your finances reduces stress, saves money, and allows you to earn more money long-term. How? No more worries about whether you paid the phone bill on time. No more late fees. And more frequent regular investments, which means more interest earned. To put your finances on automatic-pilot, consider taking...
  • Financial Risk Game Assessing Risk When Companies Refuse to Issue Earnings Guidance This is a short post as I am just watching some sectors bounce around like crazy from day to day. And every day some analyst upgrades or downgrades stocks in all of these sectors. A lot of the times in the upgrade the analyst mentions that risk has already been...
  • Harry Potter and the Deathly Hallows: a Spectacular Conclusion After long waiting, J.K Rowling the renowned English storyteller finally unveiled Harry Potter and the Deathly Hallows, the seventh and the last book of the phenomenal series, Harry Potter. The breathtaking conclusion to J.K. Rowling's series has lot more excitement for the readers. With great revelations, battles, and betrayals the...
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Filed under: household budget

dmmink says...

So my wife and I got sucked into a great financing offer - 5 years no interest with 10% down.  We have an empty formal living room and would like a new bedroom set.  So, we momentarily purchased about $4,000.00 worth of furniture on Black Friday.  I drove home with that awful feeling of buyer's remorse and then booted up the good ol' household budget software to see what this expenditure was going to do to our budget.  Although, the budget planning tools were showing me that we could easily live within our budget I still just did not feel right about carrying the $4,000 debt.

So, I decided that the furniture was going back.  This of course broke my wife's heart, as she was anxious to invite over family and friend's to bask in the new look.  I learned something about money management here, which is: just because you can afford it does not mean you should buy it.  In fact, I have since taken steps to save an enormous amount of money on the impending furniture purchase.  Today, I signed up for 2 new wholesale furniture accounts.  This should allow me to get basically the same furniture for about 1/2 the price.  I have also decided that we will furnish the rooms in stages.  First, we will take care of the formal living room. Second, we will re-furnish the bedroom.  And third, I will get some new office furniture.  I feel much better about the new approach.

 

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dmmink says...

I heard a great quote yesterday, which reads "both abundance and lack of exist simultaneously in our lives, as parallel realities.  It is always our conscious choice which secret garden we will tend... when we choose not to focus on what is missing from our lives but are greatful for the abundance that's present - lov, health, family, friends, work, the joys of nature, and personal pursuits that bring us happiness - the wasteland of illusion falls away and we experience heaven on earth." - Thomas S. Monson.

I completely agree with the premise stated in this quote, namely that people have an unfortunate ability to concentrate more on what's missing than what is in place. I believe the reason people struggle with this tendency has to do with the intrinsic "problem solver" within most of us.  In other words, we have a hard time ignoring things that are amiss, even when most things are secure, because we have this buring desire to "fix"  whatever is wrong.

Across America people are complaining about financial woes.  Most people think they need more money. Unfortunately, that may not really be in their control.  Alternatively, they could focus on budget help which is something completely within each person's control.  People can also focus on taking better care of the possessions they already have.  We will all be much better off if we can individually figure out ways to extend the product life of both valuables and consumables. So here are just a few random suggestions:

  • Use some type of household budget.
  • Learn how to change your oil.
  • Learn how to cut your kids hair.
  • Backup all computer files, including blog back up .
  • Eat more meals at home.
  • Car pool when and where possible.
  • Use a gas saver .

In sum, my advice for all of you folks stressing about the lack of money is to do a few simple things to save money so that your able to start focusing on the things of abundance in your life. 

Filed under: household budget