personal finance

[UCGal]

When I was trying to figure out a financial plan to meet our goals I used Quicken… I had already been using quicken to track spending – but it’s got a planning section – you can set up your goals (kids college, retirement, etc.) It allows you to “what if” based on various saving scenarios.

I found it really useful. As an older parent with young kids – I’m looking at college concurrent with retirement – not a typical scenario… So I was able to ensure I was saving properly to cover both major goals.

I agree with the advice that Russell gave – to have friends who don’t spend money… It’s good advice. Use them as examples. I use my spender friends as examples of how NOT to live… Seeing their stress makes me clamp onto my money even tighter.

[Matt SF]

FPs will charge anywhere from 1% of assets or fee based (the best kind) around $100/hr, but I don’t really think hiring a FP is in your best interests if you’re just doing budgeting or basic personal finance.

FP’s are great if you’re new to investing or you’re not a very disciplined investor, but just for matters of reducing spending, paying an additional $100 per month on your mortgage, or trying to cut your credit card debt, their expertise really isn’t that valuable. I say this because they’re only going to tell you to “spend less, save more, create a budget, stick to it, and call me when you have money to invest.”

Lots of personal finance blogs give this sort of advice for free, as well as budgeting sites like Mint, Quicken, or even Plain Jane Excel, should help you meet your needs.

My advice would be to track how much money you save every month (percent saved of bring home income), track necessary vs. discretionary spending every month, and if you need additional motivation, calculate how much money you’re paying in interest (bank profits) every month.

[Matt SF]

FPs will charge anywhere from 1% of assets or fee based (the best kind) around $100/hr, but I don’t really think hiring a FP is in your best interests if you’re just doing budgeting or basic personal finance.

FP’s are great if you’re new to investing or you’re not a very disciplined investor, but just for matters of reducing spending, paying an additional $100 per month on your mortgage, or trying to cut your credit card debt, their expertise really isn’t that valuable. I say this because they’re only going to tell you to “spend less, save more, create a budget, stick to it, and call me when you have money to invest.”

Lots of personal finance blogs give this sort of advice for free, as well as budgeting sites like Mint, Quicken, or even Plain Jane Excel, should help you meet your needs.

My advice would be to track how much money you save every month (percent saved of bring home income), track necessary vs. discretionary spending every month, and if you need additional motivation, calculate how much money you’re paying in interest (bank profits) every month.

[Matt SF]

FPs will charge anywhere from 1% of assets or fee based (the best kind) around $100/hr, but I don’t really think hiring a FP is in your best interests if you’re just doing budgeting or basic personal finance.

FP’s are great if you’re new to investing or you’re not a very disciplined investor, but just for matters of reducing spending, paying an additional $100 per month on your mortgage, or trying to cut your credit card debt, their expertise really isn’t that valuable. I say this because they’re only going to tell you to “spend less, save more, create a budget, stick to it, and call me when you have money to invest.”

Lots of personal finance blogs give this sort of advice for free, as well as budgeting sites like Mint, Quicken, or even Plain Jane Excel, should help you meet your needs.

My advice would be to track how much money you save every month (percent saved of bring home income), track necessary vs. discretionary spending every month, and if you need additional motivation, calculate how much money you’re paying in interest (bank profits) every month.

[Matt SF]

FPs will charge anywhere from 1% of assets or fee based (the best kind) around $100/hr, but I don’t really think hiring a FP is in your best interests if you’re just doing budgeting or basic personal finance.

FP’s are great if you’re new to investing or you’re not a very disciplined investor, but just for matters of reducing spending, paying an additional $100 per month on your mortgage, or trying to cut your credit card debt, their expertise really isn’t that valuable. I say this because they’re only going to tell you to “spend less, save more, create a budget, stick to it, and call me when you have money to invest.”

Lots of personal finance blogs give this sort of advice for free, as well as budgeting sites like Mint, Quicken, or even Plain Jane Excel, should help you meet your needs.

My advice would be to track how much money you save every month (percent saved of bring home income), track necessary vs. discretionary spending every month, and if you need additional motivation, calculate how much money you’re paying in interest (bank profits) every month.

[Matt SF]

FPs will charge anywhere from 1% of assets or fee based (the best kind) around $100/hr, but I don’t really think hiring a FP is in your best interests if you’re just doing budgeting or basic personal finance.

FP’s are great if you’re new to investing or you’re not a very disciplined investor, but just for matters of reducing spending, paying an additional $100 per month on your mortgage, or trying to cut your credit card debt, their expertise really isn’t that valuable. I say this because they’re only going to tell you to “spend less, save more, create a budget, stick to it, and call me when you have money to invest.”

Lots of personal finance blogs give this sort of advice for free, as well as budgeting sites like Mint, Quicken, or even Plain Jane Excel, should help you meet your needs.

My advice would be to track how much money you save every month (percent saved of bring home income), track necessary vs. discretionary spending every month, and if you need additional motivation, calculate how much money you’re paying in interest (bank profits) every month.

[Raybyrnes]

Not going to comment on advisors. Some are worth it many are not. Senior guys had to appease management to inherit their accounts or come from rich families. Younger guys trying to prove themselves need to follow the company line if they are going to inherit any accounts. If you have a million or more in assets, advisors are almost free. Anyone who owns a mutual fund is in may ways paying an advisor simply by the institution that holds their funds.

What’s funny to me is that my wife always talks about a diet yet the only time she loses weight is when she goes to weight watchers. You set a goal and have to pay until you get there but once you get there you only get charged when you go over your goal weight. Now this seems pretty simple. My message is always why not simply do that at home. It’s free. Put a cookie jar in the kitchen and bank the money away. Human nature simply does not work that way for everyone.
So in some ways that money spent (wasted in some people’s opinion) helps keep her focused on the goal.

[Raybyrnes]

Not going to comment on advisors. Some are worth it many are not. Senior guys had to appease management to inherit their accounts or come from rich families. Younger guys trying to prove themselves need to follow the company line if they are going to inherit any accounts. If you have a million or more in assets, advisors are almost free. Anyone who owns a mutual fund is in may ways paying an advisor simply by the institution that holds their funds.

What’s funny to me is that my wife always talks about a diet yet the only time she loses weight is when she goes to weight watchers. You set a goal and have to pay until you get there but once you get there you only get charged when you go over your goal weight. Now this seems pretty simple. My message is always why not simply do that at home. It’s free. Put a cookie jar in the kitchen and bank the money away. Human nature simply does not work that way for everyone.
So in some ways that money spent (wasted in some people’s opinion) helps keep her focused on the goal.

[Raybyrnes]

Not going to comment on advisors. Some are worth it many are not. Senior guys had to appease management to inherit their accounts or come from rich families. Younger guys trying to prove themselves need to follow the company line if they are going to inherit any accounts. If you have a million or more in assets, advisors are almost free. Anyone who owns a mutual fund is in may ways paying an advisor simply by the institution that holds their funds.

What’s funny to me is that my wife always talks about a diet yet the only time she loses weight is when she goes to weight watchers. You set a goal and have to pay until you get there but once you get there you only get charged when you go over your goal weight. Now this seems pretty simple. My message is always why not simply do that at home. It’s free. Put a cookie jar in the kitchen and bank the money away. Human nature simply does not work that way for everyone.
So in some ways that money spent (wasted in some people’s opinion) helps keep her focused on the goal.

[Raybyrnes]

Not going to comment on advisors. Some are worth it many are not. Senior guys had to appease management to inherit their accounts or come from rich families. Younger guys trying to prove themselves need to follow the company line if they are going to inherit any accounts. If you have a million or more in assets, advisors are almost free. Anyone who owns a mutual fund is in may ways paying an advisor simply by the institution that holds their funds.

What’s funny to me is that my wife always talks about a diet yet the only time she loses weight is when she goes to weight watchers. You set a goal and have to pay until you get there but once you get there you only get charged when you go over your goal weight. Now this seems pretty simple. My message is always why not simply do that at home. It’s free. Put a cookie jar in the kitchen and bank the money away. Human nature simply does not work that way for everyone.
So in some ways that money spent (wasted in some people’s opinion) helps keep her focused on the goal.

[Raybyrnes]

Not going to comment on advisors. Some are worth it many are not. Senior guys had to appease management to inherit their accounts or come from rich families. Younger guys trying to prove themselves need to follow the company line if they are going to inherit any accounts. If you have a million or more in assets, advisors are almost free. Anyone who owns a mutual fund is in may ways paying an advisor simply by the institution that holds their funds.

What’s funny to me is that my wife always talks about a diet yet the only time she loses weight is when she goes to weight watchers. You set a goal and have to pay until you get there but once you get there you only get charged when you go over your goal weight. Now this seems pretty simple. My message is always why not simply do that at home. It’s free. Put a cookie jar in the kitchen and bank the money away. Human nature simply does not work that way for everyone.
So in some ways that money spent (wasted in some people’s opinion) helps keep her focused on the goal.

[svelte]

True, true, rayburns.

My wife goes to the gym but she works out doubly hard when she has me or a trainer cracking the whip. If she goes on her own, she slacks off and she knows it.

Me, I’m the other way around. If I had someone standing over me saying work harder, I’d tell’em to go eff themselves.

Different strokes for different folks. The original post sounded like Nicole is already doing well at containing spending, that’s why I focused on how to tell if a FP is needed.

[svelte]

True, true, rayburns.

My wife goes to the gym but she works out doubly hard when she has me or a trainer cracking the whip. If she goes on her own, she slacks off and she knows it.

Me, I’m the other way around. If I had someone standing over me saying work harder, I’d tell’em to go eff themselves.

Different strokes for different folks. The original post sounded like Nicole is already doing well at containing spending, that’s why I focused on how to tell if a FP is needed.

[svelte]

True, true, rayburns.

My wife goes to the gym but she works out doubly hard when she has me or a trainer cracking the whip. If she goes on her own, she slacks off and she knows it.

Me, I’m the other way around. If I had someone standing over me saying work harder, I’d tell’em to go eff themselves.

Different strokes for different folks. The original post sounded like Nicole is already doing well at containing spending, that’s why I focused on how to tell if a FP is needed.

[svelte]

True, true, rayburns.

My wife goes to the gym but she works out doubly hard when she has me or a trainer cracking the whip. If she goes on her own, she slacks off and she knows it.

Me, I’m the other way around. If I had someone standing over me saying work harder, I’d tell’em to go eff themselves.

Different strokes for different folks. The original post sounded like Nicole is already doing well at containing spending, that’s why I focused on how to tell if a FP is needed.

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