[temeculaguy]

I think most financial planners focus on investments as opposed to household budgets. I don’t believe it would be worth it to pay someone to tell you where to not waste money, the very idea seems contradictory. I have seen older posts where people have posted their actual budget and piggs have chimed in with various ideas where the waste is and what they do to save money in that area, maybe try that, don’t think anyone would mind. We’ve had lengthy discussions and cost saving ideas on many individual topics, from cable t.v. to tithing and everything in between. As a group, we are pretty tight with our money, I’ve learned a lot of tricks over the years from fellow piggies.

If publicly throwing out your budget isn’t what you would like to do, or if the bills aren’t the problem and the “incidentals” are what’s killing you, then might I suggest an old school budget for a little while. It’s easy and fun.

1. stop all your “autopay” functions, write a check for all bills and keep a ledgerbook of the checks you’ve written and list the bills on the opposing page with an “estimate” and an “actual.” I advise against software or electronic devices for this lesson, do it for six months, keep the ledger book with the bills and in a place you both have access to.

2. Put the credit cards and atm cards in a box or vow not to use them unless it is a true emergency.

3. Get some envelopes, write the names of a few categories (food, clothing, entertainment, Etc.) on the outside. Determine an amount to be placed in each envelope on each payday, an amount that won’t get in the way of all the normal bills plus a little extra that will build up in your checking to provide incentive, but you can’t spend that. Then when the next payday rolls around, whatever is left in the envelopes gets rolled into a slush fund envelope. So you will have to earn your discretionary spending money.

4. Make sure that you get some pocket money each payday, otherwise you will feel bad, your pocket money doesn’t get rolled into the slush fund.

5. If you want to buy a piece of furniture or take a little trip, it has to be paid in cash and from the slush fund, nothing can be financed, avoid paying interest on anything, interest is the enemy, if you don’t have the cash, dont get it.
Holidays and gifts must be paid out of the slush fund, you wont want flowers anymore because they will come out of your slush fund, set price limits or skip gift giving during this experiment. Financial security is a gift, mor precious than jewels.

In six months, see how you did, see if your savings increased, if you get a raise at work or an income tax refund, use it to pay off debts or save it, you can’t spend it, you have to live within the envelope system. The money you save on interest or forgoing big ticket items will begin to accumulate in your savings account.

There, you just saved $500 on a financial planner, who would have probably just told you to make your own coffee and pack a lunch.

I was taught this long ago, I’ve gone back to auto pay and atm cards, but I still use many of the lessons, some of them will never leave you. Now i have electronic envelopes, but it still works the same, and paying interest is still the enemy.

[temeculaguy]

I think most financial planners focus on investments as opposed to household budgets. I don’t believe it would be worth it to pay someone to tell you where to not waste money, the very idea seems contradictory. I have seen older posts where people have posted their actual budget and piggs have chimed in with various ideas where the waste is and what they do to save money in that area, maybe try that, don’t think anyone would mind. We’ve had lengthy discussions and cost saving ideas on many individual topics, from cable t.v. to tithing and everything in between. As a group, we are pretty tight with our money, I’ve learned a lot of tricks over the years from fellow piggies.

If publicly throwing out your budget isn’t what you would like to do, or if the bills aren’t the problem and the “incidentals” are what’s killing you, then might I suggest an old school budget for a little while. It’s easy and fun.

1. stop all your “autopay” functions, write a check for all bills and keep a ledgerbook of the checks you’ve written and list the bills on the opposing page with an “estimate” and an “actual.” I advise against software or electronic devices for this lesson, do it for six months, keep the ledger book with the bills and in a place you both have access to.

2. Put the credit cards and atm cards in a box or vow not to use them unless it is a true emergency.

3. Get some envelopes, write the names of a few categories (food, clothing, entertainment, Etc.) on the outside. Determine an amount to be placed in each envelope on each payday, an amount that won’t get in the way of all the normal bills plus a little extra that will build up in your checking to provide incentive, but you can’t spend that. Then when the next payday rolls around, whatever is left in the envelopes gets rolled into a slush fund envelope. So you will have to earn your discretionary spending money.

4. Make sure that you get some pocket money each payday, otherwise you will feel bad, your pocket money doesn’t get rolled into the slush fund.

5. If you want to buy a piece of furniture or take a little trip, it has to be paid in cash and from the slush fund, nothing can be financed, avoid paying interest on anything, interest is the enemy, if you don’t have the cash, dont get it.
Holidays and gifts must be paid out of the slush fund, you wont want flowers anymore because they will come out of your slush fund, set price limits or skip gift giving during this experiment. Financial security is a gift, mor precious than jewels.

In six months, see how you did, see if your savings increased, if you get a raise at work or an income tax refund, use it to pay off debts or save it, you can’t spend it, you have to live within the envelope system. The money you save on interest or forgoing big ticket items will begin to accumulate in your savings account.

There, you just saved $500 on a financial planner, who would have probably just told you to make your own coffee and pack a lunch.

I was taught this long ago, I’ve gone back to auto pay and atm cards, but I still use many of the lessons, some of them will never leave you. Now i have electronic envelopes, but it still works the same, and paying interest is still the enemy.

[temeculaguy]

I think most financial planners focus on investments as opposed to household budgets. I don’t believe it would be worth it to pay someone to tell you where to not waste money, the very idea seems contradictory. I have seen older posts where people have posted their actual budget and piggs have chimed in with various ideas where the waste is and what they do to save money in that area, maybe try that, don’t think anyone would mind. We’ve had lengthy discussions and cost saving ideas on many individual topics, from cable t.v. to tithing and everything in between. As a group, we are pretty tight with our money, I’ve learned a lot of tricks over the years from fellow piggies.

If publicly throwing out your budget isn’t what you would like to do, or if the bills aren’t the problem and the “incidentals” are what’s killing you, then might I suggest an old school budget for a little while. It’s easy and fun.

1. stop all your “autopay” functions, write a check for all bills and keep a ledgerbook of the checks you’ve written and list the bills on the opposing page with an “estimate” and an “actual.” I advise against software or electronic devices for this lesson, do it for six months, keep the ledger book with the bills and in a place you both have access to.

2. Put the credit cards and atm cards in a box or vow not to use them unless it is a true emergency.

3. Get some envelopes, write the names of a few categories (food, clothing, entertainment, Etc.) on the outside. Determine an amount to be placed in each envelope on each payday, an amount that won’t get in the way of all the normal bills plus a little extra that will build up in your checking to provide incentive, but you can’t spend that. Then when the next payday rolls around, whatever is left in the envelopes gets rolled into a slush fund envelope. So you will have to earn your discretionary spending money.

4. Make sure that you get some pocket money each payday, otherwise you will feel bad, your pocket money doesn’t get rolled into the slush fund.

5. If you want to buy a piece of furniture or take a little trip, it has to be paid in cash and from the slush fund, nothing can be financed, avoid paying interest on anything, interest is the enemy, if you don’t have the cash, dont get it.
Holidays and gifts must be paid out of the slush fund, you wont want flowers anymore because they will come out of your slush fund, set price limits or skip gift giving during this experiment. Financial security is a gift, mor precious than jewels.

In six months, see how you did, see if your savings increased, if you get a raise at work or an income tax refund, use it to pay off debts or save it, you can’t spend it, you have to live within the envelope system. The money you save on interest or forgoing big ticket items will begin to accumulate in your savings account.

There, you just saved $500 on a financial planner, who would have probably just told you to make your own coffee and pack a lunch.

I was taught this long ago, I’ve gone back to auto pay and atm cards, but I still use many of the lessons, some of them will never leave you. Now i have electronic envelopes, but it still works the same, and paying interest is still the enemy.

[temeculaguy]

I think most financial planners focus on investments as opposed to household budgets. I don’t believe it would be worth it to pay someone to tell you where to not waste money, the very idea seems contradictory. I have seen older posts where people have posted their actual budget and piggs have chimed in with various ideas where the waste is and what they do to save money in that area, maybe try that, don’t think anyone would mind. We’ve had lengthy discussions and cost saving ideas on many individual topics, from cable t.v. to tithing and everything in between. As a group, we are pretty tight with our money, I’ve learned a lot of tricks over the years from fellow piggies.

If publicly throwing out your budget isn’t what you would like to do, or if the bills aren’t the problem and the “incidentals” are what’s killing you, then might I suggest an old school budget for a little while. It’s easy and fun.

1. stop all your “autopay” functions, write a check for all bills and keep a ledgerbook of the checks you’ve written and list the bills on the opposing page with an “estimate” and an “actual.” I advise against software or electronic devices for this lesson, do it for six months, keep the ledger book with the bills and in a place you both have access to.

2. Put the credit cards and atm cards in a box or vow not to use them unless it is a true emergency.

3. Get some envelopes, write the names of a few categories (food, clothing, entertainment, Etc.) on the outside. Determine an amount to be placed in each envelope on each payday, an amount that won’t get in the way of all the normal bills plus a little extra that will build up in your checking to provide incentive, but you can’t spend that. Then when the next payday rolls around, whatever is left in the envelopes gets rolled into a slush fund envelope. So you will have to earn your discretionary spending money.

4. Make sure that you get some pocket money each payday, otherwise you will feel bad, your pocket money doesn’t get rolled into the slush fund.

5. If you want to buy a piece of furniture or take a little trip, it has to be paid in cash and from the slush fund, nothing can be financed, avoid paying interest on anything, interest is the enemy, if you don’t have the cash, dont get it.
Holidays and gifts must be paid out of the slush fund, you wont want flowers anymore because they will come out of your slush fund, set price limits or skip gift giving during this experiment. Financial security is a gift, mor precious than jewels.

In six months, see how you did, see if your savings increased, if you get a raise at work or an income tax refund, use it to pay off debts or save it, you can’t spend it, you have to live within the envelope system. The money you save on interest or forgoing big ticket items will begin to accumulate in your savings account.

There, you just saved $500 on a financial planner, who would have probably just told you to make your own coffee and pack a lunch.

I was taught this long ago, I’ve gone back to auto pay and atm cards, but I still use many of the lessons, some of them will never leave you. Now i have electronic envelopes, but it still works the same, and paying interest is still the enemy.

[temeculaguy]

One of the predictions is that ford will grow to the 2nd or 3rd largest domestic automaker…..hmmmm…that’s an easy one.

Ford has been the second or third largest domestic automaker for a couple of decades. It had a few years in the #3 spot, behind toyota, they usually duke it out, lately they are looking solidly like the #2

As of 2008, they are #2 in europe, behind volkswagon.

If that person get’s to make that prediction, can I predict the New Orleans saints will win last month’s superbowl.

On a serious note, all those doom and gloom predictions and not one mention of legalized prostitution in places other than the nevada desert. How freaking bad do things have to get before we can make some progress!!!! I hate third world countries but my friends tell me some stories that are pretty amazing, if we are gonna be a third world country, can we at least have brotels?

[temeculaguy]

One of the predictions is that ford will grow to the 2nd or 3rd largest domestic automaker…..hmmmm…that’s an easy one.

Ford has been the second or third largest domestic automaker for a couple of decades. It had a few years in the #3 spot, behind toyota, they usually duke it out, lately they are looking solidly like the #2

As of 2008, they are #2 in europe, behind volkswagon.

If that person get’s to make that prediction, can I predict the New Orleans saints will win last month’s superbowl.

On a serious note, all those doom and gloom predictions and not one mention of legalized prostitution in places other than the nevada desert. How freaking bad do things have to get before we can make some progress!!!! I hate third world countries but my friends tell me some stories that are pretty amazing, if we are gonna be a third world country, can we at least have brotels?

[temeculaguy]

One of the predictions is that ford will grow to the 2nd or 3rd largest domestic automaker…..hmmmm…that’s an easy one.

Ford has been the second or third largest domestic automaker for a couple of decades. It had a few years in the #3 spot, behind toyota, they usually duke it out, lately they are looking solidly like the #2

As of 2008, they are #2 in europe, behind volkswagon.

If that person get’s to make that prediction, can I predict the New Orleans saints will win last month’s superbowl.

On a serious note, all those doom and gloom predictions and not one mention of legalized prostitution in places other than the nevada desert. How freaking bad do things have to get before we can make some progress!!!! I hate third world countries but my friends tell me some stories that are pretty amazing, if we are gonna be a third world country, can we at least have brotels?

[temeculaguy]

One of the predictions is that ford will grow to the 2nd or 3rd largest domestic automaker…..hmmmm…that’s an easy one.

Ford has been the second or third largest domestic automaker for a couple of decades. It had a few years in the #3 spot, behind toyota, they usually duke it out, lately they are looking solidly like the #2

As of 2008, they are #2 in europe, behind volkswagon.

If that person get’s to make that prediction, can I predict the New Orleans saints will win last month’s superbowl.

On a serious note, all those doom and gloom predictions and not one mention of legalized prostitution in places other than the nevada desert. How freaking bad do things have to get before we can make some progress!!!! I hate third world countries but my friends tell me some stories that are pretty amazing, if we are gonna be a third world country, can we at least have brotels?

[temeculaguy]

One of the predictions is that ford will grow to the 2nd or 3rd largest domestic automaker…..hmmmm…that’s an easy one.

Ford has been the second or third largest domestic automaker for a couple of decades. It had a few years in the #3 spot, behind toyota, they usually duke it out, lately they are looking solidly like the #2

As of 2008, they are #2 in europe, behind volkswagon.

If that person get’s to make that prediction, can I predict the New Orleans saints will win last month’s superbowl.

On a serious note, all those doom and gloom predictions and not one mention of legalized prostitution in places other than the nevada desert. How freaking bad do things have to get before we can make some progress!!!! I hate third world countries but my friends tell me some stories that are pretty amazing, if we are gonna be a third world country, can we at least have brotels?

[temeculaguy]

Texas, there aren’t that many mortgage brokers here, most were run off long ago, this can be a tough crowd. Only HLS (sheldon) has earned his keep over the years and I haven’t seen him around for a little while, when he sees this or if someone e-mails him, the real answer will be posted, nobody wants to guess and the OP doesn’t want guesses.

Plus I pay attention to things like this as a casual observer and I haven’t a clue. I think the sub 20% conventional market might be a little slim these days and FHA is not that bad of a deal especially if you can get the upfront insurance paid by the seller, the monthly is deductable, in fact all PMI is deductable now so the piggyback loans have gone away, or at least I never see ads for them anymore or hear anyone talk about them. A lot of loans have gone away. I think in the world of finance, the word “creative” is now profanity.

[temeculaguy]

Texas, there aren’t that many mortgage brokers here, most were run off long ago, this can be a tough crowd. Only HLS (sheldon) has earned his keep over the years and I haven’t seen him around for a little while, when he sees this or if someone e-mails him, the real answer will be posted, nobody wants to guess and the OP doesn’t want guesses.

Plus I pay attention to things like this as a casual observer and I haven’t a clue. I think the sub 20% conventional market might be a little slim these days and FHA is not that bad of a deal especially if you can get the upfront insurance paid by the seller, the monthly is deductable, in fact all PMI is deductable now so the piggyback loans have gone away, or at least I never see ads for them anymore or hear anyone talk about them. A lot of loans have gone away. I think in the world of finance, the word “creative” is now profanity.

[temeculaguy]

Texas, there aren’t that many mortgage brokers here, most were run off long ago, this can be a tough crowd. Only HLS (sheldon) has earned his keep over the years and I haven’t seen him around for a little while, when he sees this or if someone e-mails him, the real answer will be posted, nobody wants to guess and the OP doesn’t want guesses.

Plus I pay attention to things like this as a casual observer and I haven’t a clue. I think the sub 20% conventional market might be a little slim these days and FHA is not that bad of a deal especially if you can get the upfront insurance paid by the seller, the monthly is deductable, in fact all PMI is deductable now so the piggyback loans have gone away, or at least I never see ads for them anymore or hear anyone talk about them. A lot of loans have gone away. I think in the world of finance, the word “creative” is now profanity.

[temeculaguy]

Texas, there aren’t that many mortgage brokers here, most were run off long ago, this can be a tough crowd. Only HLS (sheldon) has earned his keep over the years and I haven’t seen him around for a little while, when he sees this or if someone e-mails him, the real answer will be posted, nobody wants to guess and the OP doesn’t want guesses.

Plus I pay attention to things like this as a casual observer and I haven’t a clue. I think the sub 20% conventional market might be a little slim these days and FHA is not that bad of a deal especially if you can get the upfront insurance paid by the seller, the monthly is deductable, in fact all PMI is deductable now so the piggyback loans have gone away, or at least I never see ads for them anymore or hear anyone talk about them. A lot of loans have gone away. I think in the world of finance, the word “creative” is now profanity.

[temeculaguy]

Texas, there aren’t that many mortgage brokers here, most were run off long ago, this can be a tough crowd. Only HLS (sheldon) has earned his keep over the years and I haven’t seen him around for a little while, when he sees this or if someone e-mails him, the real answer will be posted, nobody wants to guess and the OP doesn’t want guesses.

Plus I pay attention to things like this as a casual observer and I haven’t a clue. I think the sub 20% conventional market might be a little slim these days and FHA is not that bad of a deal especially if you can get the upfront insurance paid by the seller, the monthly is deductable, in fact all PMI is deductable now so the piggyback loans have gone away, or at least I never see ads for them anymore or hear anyone talk about them. A lot of loans have gone away. I think in the world of finance, the word “creative” is now profanity.

[temeculaguy]

4plex, maybe, good points, you are probably right but then again R/E was both about buying and selling, the crazy loans were also about buying and selling (as in people buying the MBS’ behind the loans) but it wasn’t as public, more institutional. It’s not exactly the same, just similar, maybe I’m being too bubble sensitive since the latest one is still fresh in my mind. I’ve always liked the metals, little 1 oz silver bars were my first investment as a teenager, I’m sentimental about them, but I realize that I am and try not to overdo it. I was just thinking out loud because the very same people who jump from bubble to bubble have jumped into gold. In fact when that friend approached me about the gold party, I thought is was going to be about mon-a-vie, boot camp fitness franchises, amway or whatever get rich quick thing that they usually dive into, once they said gold, I thought to myself, “I may need to check and see what investments I have that are related to gold and get rid of them.”

Matt, no need to recap your answer, I just visited your site and realized you have already adressed this. Nice writing style, props!

http://steadfastfinances.com/2009/10/09/10-reasons-why-investing-in-gold-is-a-bad-idea/

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