View Full Version : Money. A pain in my butt.


Shamindo
06-13-16, 11:42 PM
I'm not sure where to post this...didn't seem like it would fit into other categories.

I am so bad with money, granted I get very little. But every month I end up "borrowing" from my mom and I feel **** about it. I've done research and tried things like mint...Weekends are the worst. I'm ok on the weekdays as I have those very structured...but the chaos of "just having fun and relaxing" turns into "Oh I'll just drop 100 on this...it's only 100". I really need to get it together.

salleh
06-15-16, 08:13 AM
.....Oh lordy, that's me .....money has always been a sore point .....I am fabulous at getting bargains ....no doubt about that ....but I am s*** at getting bills paid ....

....and I am gonna hafta pay a whole lot more attention to money, cause for the first time in my life I am earning quite a lot of money ( for me) ....and I cannot let myself p*** it away .....which I am prone to do even with little money coming in ....

...and thanks for posting this ....as I really needed the reminder to start to pay a lot more attention to managing my money.....

KarmanMonkey
06-15-16, 12:02 PM
I used to be the same way; I'd spend $1.10 for every $1 that came in. Not a good way to live.

A few things that changed for me...

I unexpectedly lost my job and ended up on disability. I had no extra money. After paying rent, and the interest on my debt (I had about $15k between student loans and credit cards when I lost my job) I'd mostly be able to pay for food. That left nothing for discressional spending.

All of a sudden I discovered that I could get by just fine without 95% of the stuff I used to spend money on.

Now that I'm working again, I do spend on "optional" stuff, but for the most part I don't do so impulsively. I want to click on that "buy me now" button, but I've trained myself to hesitate. To plan. I don't buy anything until I figure out how it's being paid for, have at least a rough idea of how much has been spent recently, and what bills are coming. I also have a little rule that I have to tell my wife before I make any purchases. Not for her permission, but rather as that extra step to give myself the opportunity to question my choice.

That being said, I still occasionally will buy something on impulse. I just make sure that it's a rarity.

My wife and I have also created a handful of "imaginary" accounts... When our last car got paid off, we kept making car payments into an imaginary account, so that we felt poorer when we looked at our savings, so spent less, and also were prepared. So when our car got totalled a month or so ago (everyone fine, and it was the other guy's fault) we had the money set aside and were able to pay cash for our new vehicle (with a minor dip into our unassigned savings). We also have pretend accounts for dentist, property tax, insurance, retirement savings, etc..

If that's too much work, then maybe start with an envelope system: Have a rough budget, and put money in each envelope to cover that month's expenses. The only hard rule is that money only ever goes in one direction; you can only borrow from the envelope that's for the least important budget item (e.g. entertainment) to pay something that's more important (e.g. rent, groceries). When money runs out, it runs out.

If you're still prone to impulsive purchases, then don't carry any money beyond what you need for that particular shopping trip (except maybe a few bucks of emergency cab fare that's kept separately from your main cash stash)

Remember that most advertising, including in-store advertising, sales, etc are designed to build a sense of urgency in the customer. "If I don't buy this now, I'll miss out" Become aware of how stores manipulate you, and you'll be better able to resist the temptation.

Live according to what you can afford, not what you deserve. Figure out what you can cut.

Jselwocki
06-18-16, 10:52 AM
Hi! Something I've been able to do is have two checking accounts. Once I get my paycheck I figure out all my bills I need to pay until my next paycheck, and that money goes into one checking account. The rest is for me to either save or buy whatever. I feel like I get excited if I'm saving up for something even though I have the occasional instant gratification thing going on. Eventually you get to the point where you start aggressively saving and soon enough you're mom will be borrowing from you :) start small also look up the debt snowball by Ramsey... Can't think of his first name. My wife is able to figure out the whole month but for me I need the bi weekly financial accounting. Hope this helps have a good day!