Re: Help yourself to pay bills
[Re: uplandpointer]
#7486841
02/06/22 12:10 PM
02/06/22 12:10 PM
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Joined: Jan 2020
Posts: 4,949 Aliceville, Kansas 43
Yukon John
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trapper
Joined: Jan 2020
Posts: 4,949
Aliceville, Kansas 43
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Great thread, a lot of folks, especially young, need a plan. As you mentioned, not everyone was taught this by their parents, or otherwise.
Act like a blank, get treated like a blank. Insert your own blank!
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Re: Help yourself to pay bills
[Re: uplandpointer]
#7486879
02/06/22 12:39 PM
02/06/22 12:39 PM
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Joined: Jan 2008
Posts: 2,085 S/W Mich.
Dillrod
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Joined: Jan 2008
Posts: 2,085
S/W Mich.
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Also use direct deposit and talked to Consumers energy about the need to set a fixed monthly amount . They placed me on a budget plan for seniors and so far i have been a month extra at the end of the year. $150 a month right now went up $25 a couple of years ago , but is nice to have set amounts for auto payments . Seemed very accommodating when i explained fixed incomes and failing memories. You might want to inquire if you have that option.
"Some Domestication Required "
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Re: Help yourself to pay bills
[Re: uplandpointer]
#7486936
02/06/22 01:46 PM
02/06/22 01:46 PM
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Joined: Sep 2016
Posts: 6,582 MB
Jurassic Park
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Posts: 6,582
MB
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That sounds pretty complicated. So complicated in fact, I think if you can budget all those accounts and numbers you could have a better paying job so you didn’t have to do all that?
Cold as ice!
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Re: Help yourself to pay bills
[Re: uplandpointer]
#7486970
02/06/22 02:11 PM
02/06/22 02:11 PM
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Joined: Dec 2006
Posts: 5,710 Williamsport, Pa.
jk
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Joined: Dec 2006
Posts: 5,710
Williamsport, Pa.
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Blaine county very nicely stated. But my complaint with the initial post is that I check all my credit card purchases and I find mistakes about every 6 months. The most recent one I bought new flares for the boat, left the store and then read the date = only had 6 onths to go before being out of date. I went back in and the store said they just got them, read the date a returned me my money if form of credit to my card. I still have not seen that show up on my card, but they did the transaction right in front of me and the charge was listed last month. We are working on that right now. Both th store and me have contacted the company????? I have yet to trust Credit cards enough to automatically have them take money out.......jk
Free people are not equal. Equal people are not free. What's supposed to be ain't always is. Hopper Hunter
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Re: Help yourself to pay bills
[Re: uplandpointer]
#7487027
02/06/22 03:22 PM
02/06/22 03:22 PM
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Joined: Mar 2019
Posts: 1,497 Southern NJ
maintenanceguy
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trapper
Joined: Mar 2019
Posts: 1,497
Southern NJ
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Sounds like the envelope system.
When we were starting out, we really struggled. We have a little more cushion now that we're older.
We had an envelope for groceries, one for gas, one for the electric bill...etc. On pay day, the check got divided up into our envelopes. When an envelope was empty, we stopped spending in that category until pay day. It was tough but it kept us from blowing money. But it didn't work until we discovered a secret...
We needed an envelope for fun money. We tried to follow our system for years but never put in that pressure relief valve for having some fun. We always dug into other envelopes for a pizza or a couple of games at the bowling alley. We didn't spend a lot on fun but there was zero budget for fun so we always broke our own rules when trying to follow the budget.
We're not very smart so it took us several years to figure out that we're going to spend some money on entertainment so we had better budget for it. At first, it was $25 per month each. As we made a little more money, our fun money fund got a little bigger. It was never very big but a dinner out a couple of times a month really made it easier to stick to the rest of the budget.
-Ryan
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Re: Help yourself to pay bills
[Re: Jurassic Park]
#7487727
02/06/22 11:50 PM
02/06/22 11:50 PM
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Joined: Nov 2012
Posts: 1,084 midland, michigan
midlander
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trapper
Joined: Nov 2012
Posts: 1,084
midland, michigan
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That sounds pretty complicated. So complicated in fact, I think if you can budget all those accounts and numbers you could have a better paying job so you didn’t have to do all that? Not a great answer. A better job means nothing without a budget....lots of white collar workers out there that are flat broke cause they cant handle money. If you spend more than you take in, you are still broke.
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Re: Help yourself to pay bills
[Re: uplandpointer]
#7487745
02/07/22 12:12 AM
02/07/22 12:12 AM
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Joined: Feb 2014
Posts: 25,694 nm
adam m
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trapper
Joined: Feb 2014
Posts: 25,694
nm
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I hate automatic withdrawals from bank accounts. Can't count how many times a company decided to withdrawal early or late. I have my truck insurance on auto withdrawal on a credit card and that's all I mainly use that card for.
Last edited by adam m; 02/07/22 12:12 AM.
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Re: Help yourself to pay bills
[Re: adam m]
#7488807
02/08/22 01:04 AM
02/08/22 01:04 AM
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Joined: Dec 2006
Posts: 11,354 East-Central Wisconsin
bblwi
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trapper
Joined: Dec 2006
Posts: 11,354
East-Central Wisconsin
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Have not received a salary or retirement check since the mid 1980s. All direct deposit. We do have about a dozen items or regular bills we have on auto withdrawal and have for many years. We run those through our money market account. As to plans and managing finances there are many paths to get to where one needs or wants to be. How one should setup a plan I feel depends a lot on who you are or how you choose to live. Some people are savers, some are earners, some are risk takers , some seek safe investments, some not. Does not work to try to set up a plan or management style that does not fit your natural tendencies, you just won't follow it or find all sorts of excuses as to why not to. Also investing can take on many forms. Invest in thinks you have knowledge or can manage well. For some that is stocks, some funds, some land, others can be collections etc. For many it may well be several which can diversify risk. Some are very debt averse, some over use debt and some manage debt very well. Having counseled 100s of small business owners (farmers) for 40 some years those that had the most financial security enjoyed their profession, new what items needed the urgent and important attention and managed debt by using it for production assets and land. Finding work that rewards one's skills and can be done for decades and enjoyed is a huge part of any good plan.
Bryce
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Re: Help yourself to pay bills
[Re: uplandpointer]
#7489106
02/08/22 11:37 AM
02/08/22 11:37 AM
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Joined: Sep 2013
Posts: 18,587 Green County Wisconsin
GREENCOUNTYPETE
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trapper
Joined: Sep 2013
Posts: 18,587
Green County Wisconsin
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I am no expert on it , I am not were I want to be myself but I have learned and we are working on it
Dave Ramsey has a lot of wisdom on the matter .
budgeting is huge
living on less than what you make is huge
eliminating all non mortgage debt and eventually even that
no one ever regrets having cash on hand when a deal comes along
no one ever regrets having emergency money set aside
no one ever regrets having 3 months expenses put away when they loose their job
think about this from a boxers perspective , if you spend your whole bout on your heals , you never get a chance to land a punch not a good one and you loose in the decision even if you stayed on your feet in every round.
todays economy is designed to keep you on your heals . everything about it offers you the opportunity to spend your earnings and then some.
they make it so easy , they hide the true costs , everything is disguised as a small transaction , oh it's only 5 or 10 or 20 you young folks think about Micro transactions in video games this is the pinnacle of oh it's only X and next thing you know it turns out to be a lot of X that adds up to real month that bought nothing.
when you are constantly on the edge you are trapped , predictable , you can't afford to fight back all the things tyrants and bankers are looking for.
the entertainment economy takes so much money from people , and leaves them with nothing , you watched something , you were entertained for an hour.
a fire, a deck of cards, friends. chill in the back yard
fishing , hunting , trapping don't have to be expensive to be enjoyable.
find what you enjoy and not what a entertainment economy tells you you need.
Last edited by GREENCOUNTYPETE; 02/08/22 11:38 AM.
America only has one issue, we have a Responsibility crisis and everything else stems from it.
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