Holiday Spending Tips 2011
It seems to me that each year Black Friday sneaks up sooner than the previous year. You would think that I’d be prepared, after all I’ve written on the subject a few times before. Looking at the calendar this morning it dawned on me, I’d better start my holiday spending plan right away.
Black Friday can present some excellent savings opportunities if you are able to save enough money to make your holiday shopping a ‘cash only’ experience. Otherwise if you rely on credit cards to make your purchases things can add up quickly and when the last purchase is made you could be facing months of payments to get caught back up. Continue reading “Holiday Spending Tips 2011” »
“Leveling” our Expenses
I regularly teach in my Budgeting (“Spending Plan”) classes that our goal should be to turn as many of our Variable and Periodic expenses into Fixed (or “level”) expenses as possible.
A Fixed expense is one that occurs every single month at the same cost. Examples are rent or mortgage, car payments, 401(k) contributions, monthly bus passes and day care center bills.
A Variable expense occurs every month also, but the amount varies. Electricity, heating, gasoline, and groceries are among the most common variable expenses in our household budgets.
A Periodic expense, obviously, occurs less than monthly, irregularly or just once in a life time. Typical of this type of expense are medical-related charges, vacations, car or home repair, taxes, and most insurance premiums. Continue reading ““Leveling” our Expenses” »
Can Budgeting Be “Fun?”
Last night, I met with a couple in one of my classes and wanted to share their insight into what they were experiencing. They had come to my Budgeting (aka “Spending Plans”) class a couple of weeks earlier, and they shared last night that they were making solid progress.
They had not only gone home and talked about a household budget, but they had put one together and had been having regular discussions about it. I was excited for them because I know how a household budget can affect the family finances. Continue reading “Can Budgeting Be “Fun?”” »
Raising Financially Savvy Kids – Part 1
Some of the inherent responsibilities of parents include protecting their children and preparing them to be responsible adults in our society. Teaching children the proper management of their financial resources helps to accomplish both of these goals.
If the children in your family are similar to my own (and I would bet there are far more similarities than there are differences), they probably do not enjoy being lectured by their parents, nor do they learn much thereby. So how else are they supposed to learn to be financially fluent if they don’t listen to what we tell them? Well, we show them. Continue reading “Raising Financially Savvy Kids – Part 1” »
Personal Debt Reduction Strategies
Dealing with Your Debt
Debt, the cursed four letter word that it is, carries a different meaning for each of us. Therefore, there are different solutions for resolving our debt based upon our needs and various financial situations.
Here are some basic strategies you can use while working on getting yourself out of debt. Continue reading “Personal Debt Reduction Strategies” »
Paradigm Shift in Personal Finance Attitudes: Millionaire Lifestyles
I generally have the pleasure of facilitating three to seven personal finance classes each week, usually around the Treasure Valley of southwest Idaho. Many of those classes are for high school students in an economics or a personal finance course.
Inevitably, whether I’m discussing budgeting, credit, avoiding debt, or effective consumer spending behaviors, questions or comments come up about wanting to be rich. Continue reading “Paradigm Shift in Personal Finance Attitudes: Millionaire Lifestyles” »
New Year, New You – Budget Resolutions
Sometimes the little things really do ad up and if you follow these ten steps you may find a wealthier and money smart you is right around the corner. Following these steps may help you achieve less stress and better health.
Try these ten rules to live by in 2011: Continue reading “New Year, New You – Budget Resolutions” »
To Bank or Not to Bank? Is THAT the real question?
I recently met with a couple who were dead set against ever having a checking account again. It’s not that they didn’t understand the value of a checking account but that they had gotten themselves into trouble writing checks for more money than their account had.
They have decided to use cash only or, only if required in the future, use a prepaid card. For them, seeing their money was they only way of knowing how much they had left to spend until the next paycheck. Continue reading “To Bank or Not to Bank? Is THAT the real question?” »
Santa’s Not Coming to Town Quite Yet
I’ve always thought that Thanksgiving gets the short end of the stick when it comes to fall holidays. Christmas seems to invade stores almost as soon as kids are back on the school playgrounds after summer. Maybe that’s why I love Thanksgiving some much. It hasn’t been (and hopefully never will be) commercialized. Hopefully it stays the most home-centered of gatherings so our society.
Still, just because it’s not been co-oped by Madison Avenue doesn’t mean we don’t, as a nation, spend a lot of additional money on the holiday. Thanksgiving generally means extra expenses in: Continue reading “Santa’s Not Coming to Town Quite Yet” »
Turning the Torture into a Treasure
I’ve heard a number of people in my financial education classes tell me, “I’ve tried to budget, but I’m just not a budgeter. Budgeting doesn’t do anything for me.”
To anyone who has ever felt this way before, let me say two things.
First, I totally get it. I was there too. I hated budgeting because it was painful, ugly, uncomfortable, and a general exercise in frustration.
Second, though, is that I can all but guarantee that THE most crucial item of any household or personal budget was missing from your own the last time you tried (and consequently failed) to “stick to” a budget. That principal part of your spending plan is a list of one, two or three goals that explain WHY you’re budgeting in the first place. Continue reading “Turning the Torture into a Treasure” »