Search Results for “three-alternatives-to-a-budget/aaa-save-some-cash/book-review-the-art-of-non-conformity” — Page 3

Looking Back: 2012 in Review

Misc

Another year draws to a close while I still feel like it’s March…2002. How does that happen?

Here are the 10 most visited pages on this site over the past year:

Numbers 4 & 8 surprise me a bit, because they are carnival posts. There’s no meat there.

Number 10 is an unfinished series. I will finish that soon.

What else has happened this year?

My financial situation has changed pretty drastically.

My mother-in-law passed away in April, leaving my wife a house, a reasonably well-funded retirement account, and a moderate life insurance policy.
Two of my side hustles have grown to the point where I was close to looking at the end of my day job. One of them is still on the upswing, the other has contracted a bit.
I changed my day job. The new job is mostly a lateral move, but a bit of a backwards step in my career. I’m not managing a team any more and I’m not the senior developer. I have picked up more social media and advertising responsibilities, which is a direction I’ve wanted to go for a while. Combined with a pay raise and moving to an industry I care about, this is a good move.

These changes worked out well with the several years of debt elimination. Now, our credit cards are paid off each month and our mortgage is down to $24,000. The inherited house is almost ready for the renters to move in just one month from now, and we’re considering adding more properties to our financial plan. We did take out a car loan 6 weeks ago, but that was only to take advantage of a deal. We’ve paid off nearly half of the loan and should have the rest paid off in a couple of months.

What’s on tap for 2013?

I’m hoping to carve out more time for me. And my family. I’ve worked almost nonstop in 2012, now I’d like to explore some personal interests and develop some non-commercial hobbies. There are a few commercial projects currently in the works, and a few planned, but I’m going to try to keep those under control this year. My interest vary and don’t always stick for long, so there’s no real measure of success here, but if I can buy an atlatl and learn how to chuck a spear into a target or maybe brew a few batches of beer, I’ll be happy.

I’m also going to spend more time working on my health. Working 60 hour weeks with at least an hour of daily commute time killed most options for exercise. Now that I’m working from home, I’ve been walking a mile or more every day that’s been above 15 degrees. I’m going to restart the slow carb diet tomorrow. It won’t be as complicated this time, because I can eat out of my refrigerator instead of trying to pack a slow carb meal or find one at a restaurant for lunch. I’ll consider this a win if I can drop 60 pounds this year.

What about the blog?

I’ve considered selling this site. Time is always crunched, and I’m no longer paying off debt, but I still need the outlet. I’ll probably keep to the twice-a-week schedule and you can probably expect me to focus more on personal and business development instead of money.

Have a happy new year!

Tips to budget successfully

Finance

This is a guest post written by Andreas Nicolaides, a financial author for UK based MoneySupermarket.com.

Whether your aim is to save money for a special occasion or you just want to make sure you don’t have to struggle financially when it comes to the end of the month, a budget can be a saving grace. Budgets help us quickly and easily identify our total income and all our expenditure, allowing us to plan for the best and prepare for the worst financial situations.

Set yourself a target

If you have decided to set up a budget, then there must be a reason. Are you looking to save for an upcoming event? Or maybe you have realised that you are struggling to make your payments every month and you would like to feel more financially secure. Based on what you would like to get out of your budget, you should set yourself a specific, measurable objective.

My first objective I set for myself was to save $100 every month for a year. This sort of objective is easy to manage and easy to monitor and this is what we are trying to achieve. One important thing I would mention here is to ensure your objective is achievable; don’t set yourself a target that is too far out of your reach, being realistic is extremely important.

How do you set up your budget?

The main key thing when you start to put your budget together is to make sure you’re as honest as possible. Get yourself a pen and some paper and on one page detail all of your income. Include the obvious and also remember to include any benefits you are entitled too. Then grab another piece of paper and detail all of your monthly outgoings, remember to be honest and thorough and try not to forget anything. Once you have both figures, deduct your expenditure from your monthly income that will give you your monthly figure.

You have some extra cash?

If when you have your figure you realise that there is some cash left over, you can then decide what you want to do with it. My advice here depends on your own personal circumstances, for example if you have high levels of debt, your main aim should be tackle your high interest debt aggressively and as often as possible.

If you have some money left over and your aim is to save, then set up an interest bearing bank account. If you are based in the US then you could look to set up an LSA or lifetime savers account. In the UK we have the equivalent, that is called a cash ISA saving account.

No money left over?

If after working out your budget you find you have no money left over, then you need to do something about it. Debt is one of those things that won’t just disappear overnight; it’s something that takes time and commitment, but not giving up is paramount.

How to cut down your expenditures?

One of the main things you can do when you realise you are in a bad situation is to try and cut down on your expenditure. Here’s a couple of quick ways:

Use price comparison sites – These sites are great to check and see if you are paying too much on your bills, and if you are, you will have a list of fantastic options available for you to choose from. This is a great way of saving money on things like your car insurance, see here.
Sell unwanted items – Selling unwanted items is a quick way to making some cash, everyone has them around their home, so why not make use of them instead of letting them build up dust?
Cut down on your spending – Try to avoid buying luxuries and try to stick to a specific shopping list when out doing the weekly food shop, this will help you avoid unnecessary purchases

A budget is used by many just to monitor what they spend month to month, but I hope I have detailed how it can be a helpful financial tool that can help you reach your financial goals. I hope my tips to budget successfully will help you get started on your way to financial freedom.

I just turned 2!

Misc

Update: Over $500 in prizes!

Yesterday was my second anniversary here. For the last two years, I have shared my thoughts, feelings, and finances three times a week and you have been there to watch and share as I figure out my financial future.

I appreciate it.

To show my appreciation, I’m giving stuff away.

Here are the prizes:

1 $100 prize

1 $75 prize

6 $25 prizes, courtesy of ThirtySixMonths, Budgeting in the Fun Stuff, Maximizing Money, Personal Finance Whiz, and Broke Professionals.

1 iPod Shuffle courtesy of Prairie Eco-Thrifter.

1 $25 Amazon gift card courtesy of Beating Broke.

A copy of each of the iPhone and iPad versions of the Pay Off Debt app from The Debt Myth

1 $20 Amazon gift card, courtesy of Money Crush.

1 $25 Starbuck’s gift card, courtesy of Mom’s Plans.

I’m also giving away some books, some of which have been lightly read.

Financial Peace Revisited by Dave Ramsey

Never Pay Retail by Sid Kirchheimer

Delivering Happiness (advanced reader copy) by Tony Hsieh

I Will Teach You To Be Rich by Ramit Sethi

The Art of Non-Conformity by Chris Guillebeau

CreditCards.com Book of Cartoons

Women & Money by Suze Orman

To enter:

Follow the instuctions in the widget below. Following me on Facebook, Twitter, RSS, or email will all earn entries. Following any of the sponsors on Twitter of Facebook will earn you entries. Tweeting about the giveaway as often as you like or linking to this page on your site will earn you entries.

There are lots of ways to enter and 16 prizes to win.

The drawing will be held on December 23rd, just in time to give you some cash before Christmas.

Good luck!

[Read more…] about I just turned 2!

Carnival Roundup

Finance

Live Real, Now was included in the following carnivals recently:

Yakezie Carnival hosted by Growing Money Smart

Lifestyle Carnival hosted by KNS Financial

Carnival of Retirement #73 hosted by Hurricanes, Panties, Dollars

Carnival of Financial Independence #13 hosted by Reach Financial Independence

Yakezie Carnival hosted by See Debt Run

Carnival of Money Pros hosted by This, That and the MBA

Carnival of Money Pros hosted by Master the Art of Saving

Carnival of Financial Camaraderie #85 hosted by Master the Art of Saving

Carnival of Financial Independence #14 hosted by Reach Financial Independence

Yakezie Carnival hosted by Financial Conflict Coach

Lifestyle Carnival hosted by Master the Art of Saving

Carnival of Financial Independence #15 hosted by Reach Financial Independence

Yakezie Carnival hosted by Master the Art of Saving

Lifestyle Carnival hosted by Fat Guy, Skinny Wallet

Carnival of Money Pros hosted by The Money Mail

Carnival of Financial Camaraderie #87 hosted by Free at 33

Carnival of Financial Planning hosted by Hurricanes, Panties, Dollars

Yakezie Carnival hosted by Mo’ Money Mo’ Houses

Carnival of Money Pros hosted by Mo’ Money Mo’ Houses

Finance Carnival for Young Adults hosted by Master the Art of Saving

Thanks for including my posts.

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How to Live Happily Without a Budget

Finance

Three years ago, we sat down and built our budget. We spent 9 months adding the non-monthly bills that we forgot about when we created the budget. Setbacks and shortfalls almost killed the budgeting plan completely. It took almost an entire year to get our budget right.

Unrelated Image

Now? I refer to the budget once per month. No more. I don’t check it at bill-paying time. I don’t think about it daily. It’s there as a reference when I need it, but it no longer drives our finances. How did we get to that point?

First, we firmly established our budget. We know exactly what we need to cover our expenses. None of the predictable bills catch us by surprise any more. This is important.

Once we had the budget established, the rest was easy. I moved almost every bill to US Bank’s online bill-pay system and switched to electronic billing and automatic payments. The automatic payments are all through US Bank. I only allow my mortgage to be set up with the merchant. I want total, instant control over the rest. I won’t call a merchant to ask them to change a payment if something comes up. The bank sends me an email when a payment is automatically scheduled, and again when it is paid.

Once I got comfortable with the automatic payments, I switched to electronic billing. I don’t need to see the bill or waste the paper if I know it is being handled for me which is why I encourage you to manage all your finances online. I do check the few bills that may change, like the credit card and cell phone. Now, I see few of my bills. They are all sent electronically to my bank, automatically paid, and scheduled in Quicken–all without intervention from me.

[ad name=”inlineleft”]We also use an envelope system. I know how much we need for groceries, baby crap, clothes, etc. At the beginning of the month, I take out all of that money in cash and put it into the appropriate envelopes. Other than this money, almost everything else takes care of itself. I don’t need to pay attention to by bills on a day-t0-day basis. Any extra money that comes in gets divided among our debt repayment and savings goals, which only takes a few minutes to arrange.

I glance over my budget at the beginning of every month, but I only review it when something changes. If we change our cell phone, or our budgeted gas bill changes, I make the change to our budget. Other than that, it’s not even an afterthought.

That’s how we do it.

Another option includes the Sloppy Math System. This consists simply of rounding deposits down and rounding expenses up. The more you round, the better the system works. If you round every deposit down $50, and round every expense up to the next $10, you are naturally building more room for error. Given enough time, you will have enough of a slush fund to handle emergencies and the occasional impulse purchase.

20 Lazy Ways to Save Money

Finance

: Image by Paul Vivier via Flickr

Investopedia ran a post on 20 lazy ways to save money. I thought it was worth sharing my take on the post.

1. Schedule automatic payments. I do this obsessively. I run all of my regular payments through my bank’s online bill-pay. I think there are 2 bills that get paid manually; 1 is a quarterly payment, the other is due annually.

2. Eat your groceries. According to the post, Americans–on average–throw away 15% of the groceries they buy. I totally believe that. We don’t throw away that much, but it’s still too much. It tends to be the fresh vegetables, which we eat as side dishes instead of the main course. We need to switch that mindset, both to use the vegetable efficiently and to eat healthier.

3. Bundle services. I refuse. I hate the idea of having a single point of failure for multiple systems. If the power goes out, I lose my cable, but I keep the phone. If, for some reason, I can’t pay my phone bill, I don’t lose my internet connection. I like keeping these things separated.

4. Pay off credit card. Hardly a lazy process, but otherwise…duh!

5. Mark your calendar. I use my Google Calendar as obsessively as I use automatic payments. I put in reminders, grocery lists, or anything else I need to know at a specific time.

6. File your taxes on time. I just helped a friend dig out of this mess. I pay as soon as all of my paperwork is delivered. The IRS doesn’t give up and they have leverage, including garnishment and even jail.

7. Roll it over. When you change jobs, take your 401k with you. Don’t leave it behind like a series of red-headed stepchildren. It’s too easy to lose track of the accounts. Don’t cash it out! I made that mistake once and lost far too much to taxes. A rollover doesn’t count against your 401k contribution limits.

8. Switch credit cards. If you can a good balance transfer offer that’s followed by a better interest rate than you currently have, use it. But don’t forget to pay attention to the transfer fees. Do the math. If it costs you $500 to transfer the money, how much interest do you have to save to make it worthwhile?

9. Use your privileges. If you have a AAA membership, use it. It gives you a discount on hotels, oil changes, car rentals, and more. Read the paperwork. Former military gets a ton of random discounts, too. Ask.

10. Rent instead of buy. Renting can save you money over buying, if it’s something you’ll only use once, but borrowing is free.

11. Buy instead of rent. Rent-a-center is a ripoff, but they can’t even legally operate here. If you’re going to use something regularly, buy it.

12. Ask. I love to call up every company I give money to and ask if there’s a way I can give them less. Outside of chain stores and restaurants I almost always ask for a lower price.

13. Just say no. Extended warranties are generally a waste of money. However, if I can’t afford to replace the item, I do get the warranty. On my car, I brought it in for a full inspection and repair a few weeks before the warranty ran out and made all of that money back. We are slowly building a warranty fund to replace the need for any future extended warranties.

14. Have the awkward conversation. We tried giving gift-giving the axe, but nobody enjoyed that. Now, we cap the gifts at $20 and do a round-robin type of gift. $40 for gifts keeps 10 adults happy.

15. Eat at home. Generally, I can cook almost anything better at home, but I really do enjoy eating out and trying new restaurants. We just keep it from being a regular expense.

16. Balance your checkbook. What a waste of time! With automatic payments and cash for all of the discretionary budget items, I balance the checkbook once a month.

17. Stick with your bank. Either use your own bank’s ATM network, or use a bank that refunds ATM fees. I only take out cash on the first of the month, for the entire month and I do that with a teller, so this is never an issue for us.

18. Use your TV. Cable movie packages instead of a video membership? Really? That’s a horrible idea.

19. Quit those bad habits. I quite smoking, saving $200 a month. I don’t drink much and I’m working on fixing my eating habits. Vices are fun, and this is certainly not a fun way to save money.

20. Forget the pet. There is no way this would fly at my house. we have 5 cats, 2 gerbils, and a dog. Our renter has 2 pythons. We’re a flippin’ zoo and honestly, mess and cost aside, we all like it that way.

How do you stand on these ideas?

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