devilc: For The Win! (FTW)
[personal profile] devilc
My monthly payment into my "Oh, Snap!" fund is based on the maximum car payment I can comfortably afford to pay each month.

In 2006 this fund contained barely over $1000. I've taken no money out of this fund except for my annual funding of my Roth IRA or for automotive repairs/maintenance

I am now up to one year of salary in my "Oh, Snap!" fund.
woggy: Dom (from the webcomic Megatokyo) talking on a phone (Dom)
[personal profile] woggy
There is enough money in the joint savings account between me and my fiancee to be able to afford 15% down payment on the size of house that we want. (We're not going out and buying right now... our lease isn't up until the end of December, and we were aiming for at least at 20% down) but still. Apparently I'm actually doing pretty well at this 'responsible adult' business. :) Wanted to share my triumph.
zillah975: Painting of my Night Elf, Tyrnathera Stormcaller (Default)
[personal profile] zillah975
So, I may not be thinking 100% clearly about this, due to some RL stuff (two deaths in my immediate family, craziness at work, etc), but let me lay this out for y'all and then ask a couple of questions.

Rent woes )

And so, the questions:

Does it make sense to y'all that rents would typically rise 10-12% for current tenants each year? Have other people here experienced this same kind of rent hike? How is a resident supposed to manage that if their salary isn't increasing at the same rate? (And if your salary is increasing at that rate, where do you work and are you hiring?)

And assuming that rents don't rise more than 5% on a current resident, does anyone know what percent of their net income a person should expect to pay in rent?

Alternately, if you have found that lease renewals typically offer such a high increase, how do you plan for and manage that?
delladea: (Default)
[personal profile] delladea
This borderlines on relationship advice, but it involves money.

Some background, leading up to now )

How things work right now is:
  1. Husband gets paid every 2 weeks, gets direct deposited into his personal checking.

  2. Husband transfers X amount into joint account.

  3. We pay everything out of the joint account except for auto/home insurance and oddball expenses which come out of his account.

  4. End of month comes, and a mad scramble ensues to get everything paid, usually involving temporarily transferring money out of joint savings.

  5. Next time husband gets paid, repay savings account + $20 penalty.

  6. Repeat next month.


One upside is our savings account is slowly getting bigger, but that's not the way I want to do it!

Now that our daughter is here and almost three months old, our expenses have increased in some ways in decreased a bit in others. We've also started raising sheep and I have no idea what's been spent on that because it's all come out of his account. I have asked him and he's given me some receipts, but that is a household expense and it should be coming out of the household account. Basically he's starting to pay some household stuff with his personal account which gives me an inaccurate picture of where our money is going. I'm the person responsible for paying bills and tracking where our money is going, so I need to know about everything that gets spent.

I'm posting here because I really really feel we need to just combine everything and use the joint account. We've been together for over seven years and are pretty much stuck with each other now. Both of us have similar attitudes on money and have never had a problem getting important expenses paid.

The problem is going to be selling the idea to my husband. I have a feeling he may view it as a loss of control, when I really don't feel that is the case.

For those of you who have SO's and only use a joint account, how do you make it work? What rules do you have for each other (if any)? How do you handle personal expenses, like (for example) buying new jewelry?
jamethiel: A blue sky with a pompom raised in the lower right corner (CheerSky)
[personal profile] jamethiel
o.O
I just paid off my credit card balance. In its entirety.

I may have a couple of dollars of interest to pay next month, but that sucker is GONE.

o.O

\o/

PARTY IN THE COMMENTS!!! COME AND TELL ME FANTASTIC THINGS ABOUT YOURSELVES!!!

... Dammit. I need some form of sparkly tiara gif. I DESERVE A SPARKLY TIARA GIF.
jamethiel: Money! (Money)
[personal profile] jamethiel
I haven't been updating the community, but a lot has been happening in my life.

We've had a few new people join. First of all, hi! Come and introduce yourself--tell us anything about your financial situation or goals you'd be comfortable with hearing and feel free to ask questions and make use of the community brain. I'm jame, your friendly community mod.

For those who haven't been aware of my situation, a recap )
jamethiel: Money! (Money)
[personal profile] jamethiel
It's great to see people using the comm! If anybody has any suggestions or alterations please feel free to make them! I'd love to hear from you.

An update on my progression to my goals )
alexseanchai: Purple lightning (Supernatural 3x16 Ruby my own reasons)
[personal profile] alexseanchai
Oh hey, comm activity.

Three major short-term financial goals. (1) New computer, one that cooperates with the software I need for my summer class. (2) Summer tuition paid in full. (3) Lowest-balance credit card paid in full.

By 'short-term' I mean my math says I can accomplish all three by Jul 2 with room to spare. More room if overtime is offered, but I can't count on there being overtime any more than I can count on Etsy sales. And my monthly spend-on-fun-things budget is hovering right about zero, so this is not gonna be fun.
ngakmafaery: (Default)
[personal profile] ngakmafaery
...I made this feed here recently (womensmoney_feed, and sorry, but my html is crap, so maybe someone can remind me how to make it look like a feed: otherwise, it's on my page), and today they had half-a-dozen articles on how to budget, why and why not to budget, what alternatives there are, etc., and I thought that there might be some interest here in this subject...good luck with it...
holyschist: Image of a medieval crocodile from Herodotus, eating a person, with the caption "om nom nom" (Default)
[personal profile] holyschist
My current situation )

I'm thinking about attempting to save more money via coupons: I don't want to go buying stuff we won't use with coupons, but making more of an effort to use coupons for things we do regularly buy. Right now we're pretty good about using coupons for a) craft supplies, b) one local Japanese fast food restaurant, and c) PetCo, and d) more pricey gift things (e.g. I made some photobooks with Snapfish as gifts, and waited for a 3-for-1 coupon).

What we are not good about using coupons for is day-to-day grocery and cleaning supplies--manufacturer's coupons more than store coupons.

Have any of you found coupons to be worth the time investment? If so, do you have any recommendations for a system to encourage actual coupon use with minimal time spent clipping-and-wrangling?

Have any of you found coupons to be totally NOT worth the time investment? I mean yes, the amount we can save with coupons is minimal next to what I'd make with one small freelance assignment, but coupons are reliable and assignments are not.
jamethiel: Money! (Money)
[personal profile] jamethiel
I just paid of one of my credit cards entirely. The balance is now $0. I'm expecting less than $2 in interest, which I can clear as soon as they add it to my card.

\o/

If things go according to plan, I should have cleared the other credit card by the end of March.

I opened up a separate "bucket" or account for living expenses as opposed to bills. I'm only in my second paycheck of using this system, but the amount in bills is accruing quite satisfactorily and I have a little bit left over in living expenses.

Come and tell me the awesome things you've done for your finances and give yourselves a pat on the back!
alexseanchai: Purple lightning (Default)
[personal profile] alexseanchai
Is this an appropriate place to rant about college textbook prices? Particularly when the textbooks are (1) rented (2) ebooks (3) that I already have in dead-tree format?

That's $180 I have no choice but to put on the credit card I just paid $300 to. So much for paying off that card on payday next. (Which happens to be my birthday. Happy fucking birthday, Ellie.)
alexseanchai: Purple lightning (Default)
[personal profile] alexseanchai
Between Christmas and not spending shit, amazing how the money piles up. I seem to have four hundred dollars to spare. That's more than a third of my current goal for the rainy-day fund (goal, $1000, current total, $0). That's also enough to pay off the lowest-balance credit card (current total, just shy of $400). But not both.

Advice?

ETA: Taking the advice to put $100 in savings and $300 on the card. Next paycheck, this sucker is going down.
jamethiel: Money! (Money)
[personal profile] jamethiel
Hi guys. It's been a while since you heard from me, huh? I thought I'd give you a quick update.

Read more )
red_trillium: cartoon cat that says "I love cats but can't eat a whole one" (Default)
[personal profile] red_trillium
It's been awhile since I've checked into this comm and my life has taken a roller coaster ride since then.

Besides a couple deaths in 2011, I had a very very stressful year at work from about March to July/August. It isn't completely over (not that I ever expect to be stress-free at work) but it isn't at the level of impacting my mental and physical health like it was. This had led to a lot of impulse buying, often in the name of "pamper myself" in trying to find ways to de-stress. While I was supposed to be saving for a trip back to the US next year, I'd also slip and spend $ where I should have been saving it.

I got through that and started making in-roads to pay my cards down a bit in preparation of the trip, but knew I was no where near where I should have been. I figured we'd have to get a personal loan to pay for the majority of the trip and planned to use my bonus from work towards the trip.

In mid-November my wife got the shocking news that her area at work was being restructured & after 31 years, she was made redundant. They were only given a 2 week redeployment period so didn't have enough time to find another role in the company.

As hard as that has been on us both emotionally, it's allowed us to seriously look at our financial situation. We started looking at what bills we had, our household situation & finances & what she'd get paid out (the pay-out capped at 25 years).

We've paid our debts off. We traded our old car in for a slightly newer used one that won't need major repairs the old one was due for. We've set money aside for the trip next year. I am in the process of transferring the rest of the funds to our savings and may look at options for putting funds on a small deposit to earn a bit of interest.

It is odd. I am debt-free for the first time since I graduated from high school (and that was in the late 1980s). The circumstances are sad but it does feel liberating. And odd. That is an interesting (and slightly sad) comment on me and the mentality in the US (where I lived most of my life).

We are both serious about staying debt-free. We just can't afford it. Her health issues mean we won't be able to have the same income again. It won't be easy to survive on a much-reduced income but I think we can do it if we try. We will keep our cards; we need them to book flights, hotels and car rentals (even if we pay cash for the hotels & car they still insist on a card they can 'hold' money on for damages) but will reduce the limits after our holiday.

We've also used some of the funds to set up a booth at a local craft business. December brought a little bit of money in from that and we can build on it. Every little bit extra will help.

It's a new world, one I have no clue how to navigate in. We still have bills, the daily things we can't just get rid of like rent, electricity, the internet/phone bill and stuff like that. I'll keep a small payment to the savings and a token amount to our respective discretionary accounts so we aren't tempted to just blow the budget. I'm scared, worried my income won't be enough or I'll loose my job through a mistake or a restructure (constant at my company the past few years it seems). But it's made for an interesting start to 2012.
all_adream: (Default)
[personal profile] all_adream
I haven't had a credit card in years, since I crashed and burned with them long ago (partway due to their errors and then extra charges based on that and me refusing to pay since it was robbery. They ultimately sued me, the dogs). I learned my lesson, and have been doing fine without one for a long time now. I just applied for one in order to improve my credit scores since we plan to buy a house, and was accepted for one that has a low credit limit, was free the first year and costs a little after the first year ($19.00, which might be worth it for me, and I could possibly even switch to one without a charge by then). I just want to use it and pay it off every month to keep getting better credit scores.

The best way I can think of is to (obviously) only use it like a debit card, only using it for amounts I have in the bank right then, and then me writing a check for it immediately and putting the check in the back of my checkbook or whatever, deducting it from the register right away, and then when the time comes for the bill to be paid, I'll have a check put aside ready for it and it won't be a surprise or hardship. In theory, I could write down the figures if I planned to use it for a few things per month, and then write the check for that total *but still deduct the amounts from the register the minute I use the card*. This seems like it would work, as I have been using debit cards successfully and without screwing up for years--and I would resent paying interest for a crappy hundred-dollar purchase, so I won't fall for that--
jamethiel: Money! (Money)
[personal profile] jamethiel
So. This comm has been a little quiet lately. A large part of this is because I lost the plot for a little while. I got out of nearly three grand's worth of credit card debt. Then I promptly got back into debt again. So this is going to be a post about what I have learned about getting out of debt and things I would do again, wouldn't do again and what didn't work for me.

The first step. )

Next: Try to stop. )
Balance transfers )
Pay yourself first )

Minimum repayments are not your friend )

Finally: don't short yourself )

Some philosophical stuff about the use of credit. )

A grab-bag of organisational stuff that I find helps. )

Future plans )

So, how are you all doing?
alexseanchai: Purple lightning (Default)
[personal profile] alexseanchai
Dead comm is dead. *pokes at it*

Hi, I'm Ellie, and I have problems with buying things on impulse. This may be related to my thousands of dollars in credit card debt. I have a full-time job which, after monthly expenses, gives me four hundred a month to pay down credit card debt with. Somehow the debt keeps not going down. Does anyone have suggestions for ways to convince myself I don't actually need any of the books and probably don't need any of the crafting supplies I buy?
all_adream: (Default)
[personal profile] all_adream
Frankly, this person made as much as anyone I know in Vermont who isn't a doctor or lawyer, but calls it "penury". Regardless, the simply-listed points are helpful, I think.

http://funny-about-money.com/2011/01/22/what-i-learned-during-the-year-of-penury/

Additionally, I made this blog into a feed, which you can find on my page, if you wish to follow it here.
all_adream: (Default)
[personal profile] all_adream
http://www.myamortizationchart.com/

There seem to be lots of them, but this came up and appears to work well. I hope it helps people!

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