Budget Articles
Happy Thanksgiving
Because it's Thanksgiving I won't bore you with a long, drawn-out entry on how to do Thanksgiving on a budget. As has been said many, many times here, living a frugal life is not about being a shut-in and hording money in your couch. Today is a day for family and friends, so break out your wallets.... Keep Reading
Want and Need
We have a difficult time in this society distinguishing between want and need. We can thank the constant bombardment of marketing messages for some of that trouble; the rest we have to accept responsibility for ourselves. Part of what a budget and spending plan will do is help focus where your mon.... Keep Reading
Emergency Fund Details
How long should your emergency fund cover you? Probably three or four months. You'll have to decide what number is right for you. Depending on the area, it can take three or four months to find a new job if you lose yours and you don't want to be without income AND unable to find ANY job. That's.... Keep Reading
Uses of the Emergency Fund
Your emergency fund covers a certain number of months' worth of essential expenses for you and your family. What are those essential expenses? Think of them as what you need to pay to keep a roof over your head, food on the table, your children in school, your insurance up-to-date, and your car ru.... Keep Reading
Types of Financial Planners
There are two types of financial planners and today's entry is going to discuss them. Commission Planner: The commission planner, who may also charge a fee for plan development, earns his money through commissions on products he recommends in the plan. Some would an immediate conflict of interes.... Keep Reading
Do I need a financial planner?
Do you really need a financial planner? There is no hard and fast rule to determine when you need professional help. The level of financial advice available today ranges from very superficial to very detailed. This site, while not superficial, can only help so much on an individual basis since ev.... Keep Reading
Complicated Financial Goals
Sometimes setting goals for finances is tough--not as easy as setting aside $1000 for a new TV. Today we're going to look at the difficulties of something more complicated--buying a house. Before we get started you need: price-range you think you can afford, good credit, a down payment, closing co.... Keep Reading
Breaking down your financial plan
You can break any financial plan into four parts: · The goal--what you want. · How close are you now?--what is your current situation? · Resources--how much can you put towards your goal both now and in the future. · Time--how long is it going to take to achieve this goal.... Keep Reading
Bill-Paying Services
If you use a bill-paying service, all your bills are sent directly to the bill-paying company, which makes payments for you and sends you a monthly transaction report. They also charge you a fee, typically around 10% of the total you owe. Bill-paying service don't actually lend you money, so you s.... Keep Reading
What Records Should I Keep?
What types of records should you keep? Hang onto any documents that identify your sources of income (W2's, 1099 MISC's, etc) as well as anything that helps determine that value of assets and prove your tax deductions. Checks alone may not prove the deductibility of an expense. The best proof is a.... Keep Reading
Is Lifelock a scam?
With all of the news recently about ID theft and other general security breaches, you might be considering getting something that could effectively be called ID theft insurance. There are two leading companies, Lifelock and Debix, that cover personal insurance but we're only going to look at Lifelo.... Keep Reading
Emergency Fund
If you elect to neglect all of the other advice on this site, that's fine but please, for your own sake, listen to this one: Have an emergency fund. Once you have a budget outlined you will have a good feel for how much money is needed in an emergency fund. A well-developed emergency fund should be.... Keep Reading
The Makings of a Good Budget
Solid budgets are both realistic and flexible. Think of it like a map: a good map will show you multiple routes to your destination. Your budget works the same way--it should be dynamic and change to fit your needs. If you have four children your budget will be very different than if you have non.... Keep Reading
Benefits of Budgeting
Put simply, budgeting tracks your expenses and shows you where your money goes. Seemingly small and inconsequential daily or weekly expenditures can add up over time. By tracking all of these expenditures, you can make conscious decisions on how to spend or invest your time and money instead of le.... Keep Reading
Why Bother Budgeting?
A budget is nothing more than a plan for your use of money. Think of the money you'll save if you just spend more wisely. If you're planning on achieving your financial goals without a plan you might be in for some bad news down the road. Developing this spending plan is the first and most basic .... Keep Reading
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