Category: Budgeting

Learn how to track spending, set your budget, and stay on plan

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Skipping These Will Save You Money But Ruin Your Life

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One of things you hear pretty often when it comes to trying to save money is the concept of “just skip it”. You know what I’m talking about here, don’t you? Like when you’re on your way to work in the morning if you “skip” that stop at 7-Eleven and forgo the cup of coffee and that bagel you’ll save yourself about $5 bucks, right?

There are lots of things you can skip to save money, but it's not always a good idea. Here are 8 things that you're better off keeping in your budget.

Or say, how about when you are at the restaurant and you opt for that tasty glass of Chardonnay with dinner and tack on an extra $14 to your bill? “Skip it” and have a glass of water with a twist of lemon instead, right? That’s fairly good advice and when you do it you will definitely cut costs and save some money. And truth be told, no real harm or suffering comes from that. But, and it’s a big but, sometimes we are “penny wise and pound foolish” as the old saying goes. Continue reading

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Where the F Did All My Money Go?

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Sometimes, I find myself to be a little bit bored. Retirement can do that to you, and so a few days ago I got out some paper and started to jot down some numbers. I tried to figure out how much money I have earned and spent over the last 50 years or so. Where does the money go? It’s kind of amazing and also kind of scary too that I can actually remember all of this crap. What does that say about me, my money, and my life? For one, I may be a freaking money savant…or am I just a mentally ill moron? Um, let’s go with savant, ok?

At some point, most of us wonder "where does the money go?". Make sure you're spending money one what you truly value...most of the time.

A Rainy Wednesday and This is What I Choose to Do?

So I sat down and began to put numbers on paper to try to figure it all out. I thought hard about how much money I have earned over the course of my lifetime and wondered how and where I have spent it all, leading me to this fundamental question: Where the fu¢k did all the money go?

Continue reading

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HoneyMoney Review and Giveaway – The No-Stress Way to Control Your Bucks

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Thanks to HoneyMoney for partnering on this post. I was compensated for providing this review, but all opinions, positive or negative, are honest and solely my own. Please note this post contains affiliate links which help to fund this blog at no cost to you. Thanks for your support!

I have been tracking my money for a really long time using that “old reliable” Quicken on my computer every single day like clockwork. It’s something that is ingrained in my brain—recording my income, expenses, etc.—and I think about it a lot. In fact, you could say I have “trackitis”, i.e. a stress-related disease that involves knowing every aspect of my financial life. Quicken has a lot of features, options, menus, and it can make you feel more like a CPA rather than being a no-stress way to gain control of your money.

That’s where HoneyMoney comes in.

HoneyMoney is an online tool and mobile app to manage your money. This HoneyMoney review shows you how the tool works, plus the benefits and downsides.HoneyMoney is a relatively new way here in the USA to simply track your income and expenses, launching in 2017. It was originally begun in Europe back in 2011. Continue reading

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How the Family Budget of Americans Varies at Different Phases of Life

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For today’s guest post on how the family budget changes over time, please welcome fellow personal finance blogger James Paul.

We spend according to our age. Our needs vary as we grow old. Our happiness depends on how much you earn. The more we earn, the more we spend, and the happier we are. The American economy is built on the buying power of its citizens. They have many reasons to buy Black Friday sales, New Year sales, and discounts all around the year.

At different times in your life, your family budget will vary according to the stage you are in. Here are the average monthly expenses for 7 different phases. How does it compare to yours?

When you decide on the family budget next time, analyze the areas which cost you more and less. Studies show you tend to spend more as you grow old. Following are the ways in which Americans spend their earnings: Continue reading

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These 14 Things Will Cost More in 2018

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Your budget won’t like this, but there are a number of goods and services you can expect to be more expensive in 2018. Giving you a heads up can make your planning a little easier and certainly keep you sharp when looking to buy. This list is meant to do just that. Here’s what you can expect in 2018.

It seems like prices are always going up, but for these 14 items, you're sure to see a price increase in 2018. Adjust your budget and plan ahead for success.

14 Things Where You’ll See a Price Increase in 2018

1. New Phones

Smartphone prices have already started to rise. The latest iPhone model jumped to a whopping $999 and the Google Pixel 2 XL launched at $849. That means that some of us are now spending almost a solid grand on a phone (granted, they take some pretty amazing photos). It’s a trend that seems to run opposite from other tech products that usually get better and cheaper as they become more common. While there are always some good deals around, they are getting harder to find as phones are getting better but more expensive, and you can expect this trend to continue. Continue reading

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Budgeting: The Ups and Downs and All Arounds

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January 1st is over, so unfortunately it’s right back to reality. While the celebrating was fun and well deserved after a long year, it is back to basics at our house. What is most basic for us, and for that matter anyone else, is budgeting.

When budgeting, you have to deal with the annuals ups and downs the affect your income and expenses. Check out our budgetary changes for this coming year.

We hashed out our budget plan for 2017 in December, and we are set now to dig in and make this year a winner in what really is a war. Why do I say that? Just look at some of the stats and you’ll quickly see that for a huge number of us, our finances and economic wellbeing has suffered from a lack of personal income growth and increases in many of the basic costs of living. Continue reading

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It’s Time for Your Year End Financial Review

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Please note this post contains affiliate links which help to fund this blog at no cost to you. Thanks for your support!

While we may all have holidays on our minds, the end of the year is rapidly approaching. That means you should probably make some plans for New Year’s, but we’re not quite done with 2016 yet! After all, you probably had some financial goals set in the beginning of the year, and it’s time to perform a year end review.  Not only is it important to track where you’ve been, but it will help set you up to start 2017 off right.

We're reaching the end of 2016, so it's time for the year end review of your finances. Not only does this hold you accountable, but it sets you up for 2017.

Your Year End Financial Review

Your year end review should cover all your money issues for the year. Here are some categories to help you get started. Continue reading

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Report Card: Our Annual Expenses Year to Year

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I have been pretty impressed over the past few years by the many people that post their financial information and performance against their budgets as a way for all of us to see exactly how their goals and budget plans are doing. It’s always challenging, but it’s a great way to learn by comparing how you are doing versus others. Since I have always been a very private person, when it comes to my own income and expenses, I haven’t made my numbers very public despite the questions I get asked each month about my own spending habits and results of my budgeting.  Today I’m breaking that silence to give you my annual expenses for the past 5 years, so alert the media!!

I think everyone's a little curious about how others manage their expenses. Here is our report card: how we spent our money for the past 5 years.

Where the Money Goes

Seriously, I have been tracking my numbers and budgeting very carefully for over 10 years now, long before I began to write this blog. If you have followed me a little bit you probably know that the biggest part of our expenses every year has been for medical care and insurance coverage. That’s because both my wife Suzanne and I are unfortunately ill and have some chronic conditions that make those expenses around 25-30% of our annual expenditures every year. The latest numbers on healthcare spending for the average American is about 8% of their total budget, and that’s up from the 6%, the number just 2 years ago. Continue reading

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Track Your Financial Health with These 6 Vital Signs

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Please note this post contains affiliate links which help to fund this blog at no cost to you. Thanks for your support!

When you go to the doctor, they check your vital signs like blood pressure and temperature to make sure you’re healthy. But what about the vital signs for your financial health? These numbers tell you if you’re financially healthy (or not!) and can give you goals to shoot for.

Just like your doctor measures your vital signs to check your physical health, you need to track these 6 vital signs to monitor your financial health.Over time I’ve learned the hard way that I have to go to the doctor and get checked out or else my health suffers. It’s the same with your money. If you don’t pay attention to your financial vital signs, you’ll be headed for disaster. Continue reading

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Financial Empowerment – My Road to Financial Wellness

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The following blog post is part of The Road to Financial Wellness blog tour. The Road to Financial Wellness is a three-month, grassroots campaign promoting financial empowerment on a national level and encourages people to pursue their dream lifestyle. Find out more about local events near you.

This coming September will mark for me the 20 year anniversary of starting my journey to my financial empowerment. Sometimes, the best things that you will ever do are born out of times that are fundamentally the worst times, such as when you are hurting emotionally and financially and are desperate for control when tough roadblocks occur in your life. That’s what happened to me in September 1996.

Financial Empowerment - My Road to FInancial Wellness

Back then, my 25-year marriage had just ended, my divorce became final and I was at my low point in every part of my life from job to family and of course, my financial condition. After a divorce, the division of assets doesn’t leave two halves but rather a pretty big financial hole which means a lot less for everyone involved. You can do one of two things it seems. Either you can wallow in self-pity and think you’re destined to be in that mess forever or you can decide that you can do something about your problems and start to find ways that you can take control again of your financial well-being. It may not be simple and easy, but it can be done. Continue reading