Ask MetaFilter questions tagged with money and Budget

Here's all my passwords dude

sarelicar — Mon, 16 Nov 2009 11:52:12 -0800

Rudder or Mint? Is there a big difference between these two services? I'm an obsessive bank account checker and pay everything online. I like the idea of having one-stop-bill paying and budget fun.

Is my spending info sold to third parties/credit card companies/etc?

Is allowing a website to access my financials an obvious no?

Your personal experiences welcomed.

Drop and give me 36 (months of consecutive on-time payments)

Anonymous — Wed, 12 Aug 2009 19:01:46 -0800

I'm looking for a financial coach, someone who can help me develop better financial habits. Does such a thing exist? I'm irresponsible with money. I forget to pay my bills, and end up paying them late so that I have late fees and the late payments go on my credit report. Or I just ignore them for a few months, until they get big enough that they're difficult to pay off. I set up budgets and then ignore them. I am cheap as hell with big stuff, and then blow my budget on stupid small things like eating lunch out every day. It's stupid and sort of embarrassing and I want to mend my ways.

I realized that what I need is someone who will look at all my regular bills, as well as my income, and help me set up payment plans and a budget, and then help me stick to it. Kind of like a personal trainer, but for money instead of fitness.

I'm not necessarily looking for a blog or a book that will help me do this. I've already read a bunch of books and blogs (Suze Orman is great) and I always come away with all sorts of good intentions, and then do nothing. I need someone who will help me develop a plan, and then hold me accountable to that plan for a few months while I get it going.

Ideally I would like to see someone locally (I'm in Seattle), in person, because it seems like that would be more effective and secure. I'd really rather not give all my financial info to a stranger on the internet.

I know about the credit counseling services, but it sounds like many of those are scams and even if they aren't, seeing one can adversely affect your credit rating (ah, irony). Internet searches result in a lot of these types of outfits. And it seems like financial planners are more for managing your investments.

Help me avoid spending like a sailor on shore leave

Anonymous — Wed, 05 Aug 2009 14:09:35 -0800

What are some tips on wisely handling an increase in income? I know - good problem to have. Recently I switched positions and am now making about 150% of my former salary. This is great news, but because of my financial history, I want to be careful about it and use this newfound income smartly.

I'm carrying credit card debt, so my highest priority is to use most of the new income to pay that off. I'm setting the goal of doing that within two years. But even at that rate I will still have a bit more disposable income than I do now. I'm worried that I'll fritter it away because I can - after several years of skimping on the basics, there's a temptation to loosen the purse strings a little and buy more things on impulse, eat out because of laziness, and that kind of thing.

I'm having a hard time deciding on budget line amounts for things like clothing (I haven't had a new winter coat in ten years, and need shoes), groceries (right now I average around $50 a week, but would really like to spend a bit more so I don't face Rice Days at the end of each pay period), and entertainment/recreation -- right now I spend about $50/week on nonessentials like eating a meal out, having a couple of beers, going to a show or a fair, or renting a couple of movies. I don't own a home, and one day might like to, but saving for that would come after debt repayment. In general I value experiences more than stuff. I really like feeling secure and look forward to an increased sense of financial preparedness.

This new income could make possible things like taking classes, participating in sports that require equipment buys, traveling a little more, etc. I'd like to take advantage of some of that purchasing power to experience things I've missed out on - but how can I do so responsibly and in good conscience? What boundaries should I set?

I'm very used to stretching a meagre budget creatively - but as a result, I know a lot less about managing money that you have enough of than money that's always a teeny bit shorter than you'd like.

I will be setting aside an employer match for retirement, doing a debt snowball, and starting a savings account with auto deposit. What else should I consider? Have any of you managed such a change? What helped you set spending boundaries? How did you determine what was reasonable?

Shortening the leash on a financially irresponsible spouse?

Anonymous — Wed, 03 Jun 2009 07:19:44 -0800

Seeking techniques for aiding/supporting/educating a financially irresponsible spouse who talks the talk but won't walk the walk. My spouse and I have a very weighted financial relationship. I earn 90% of our income and handle 90% of the family financial responsibilities (getting and maintaining insurance, paying bills, getting rent paid, etc.). This in and of itself is unacceptable to me, and has been the subject of many discussions.

The salt in the wound, however, is my spouse's child-like self-control and sense of entitlement. We have a budget, spouse is aware of the budget, and professes to understand the importance of keeping within it. Spouse professes to check the bank balance daily and live within the funds budgeted for "pocket money". When we have the discussions, it's yes, yes, yes, and very convincing statements of understanding of how important it is to share responsibility.

Recently, with my approval, a new computer was purchased - big sums are not the issue here, they are always negotiated and discussed between us prior to purchase. However, the small things are the problem - $40 at the record store, $40 at the comic store, $40 on liquor (within 48 hours of a discussion on how we are "tapped out" on non-necessary spending under the budget). I can't get through here. In the last several days, there have been $200 in non-necessary spending, all knowingly in excess of the budget. No bills have been paid.

So, obviously, there is nothing really more to be gained from talking - spouse will say yes, irresponsible actions will continue nevertheless. I've tried taking away the ATM and credit cards, but I have two problems with that: (a) I'm not the parent figure here, and don't want to be in that bad emotional situation and all it causes, (b) It creates problems - spouse my go grocery shopping, get there, and realize spouse did not bring the credit card, or spouse may remember to bring credit card but not return it - method causes more problems than it solves.

So, I guess I am looking for advice/anecdotes/etc. on how you have solved these problems. Real-life strategies, suggestions, day to day ways you have helped problems like these, etc. Please, please, please be considerate enough to refrain from knee-jerk DTMFA comments, as we have been through hell this year (loss of a child), and I have no interest in that - I love and care for spouse, and am looking not to change my spouse, but to accept spouse and create joint management techniques that can work. Please also know spouse and I are both seeing a grief/marital/general support counseling professional.

Cutting the umbilical cord

sixcolors — Mon, 06 Apr 2009 10:38:23 -0800

This moving out thing, uh...how do I do this (financially)? I often complain about my parents to my friends, random people, and even on here.

The most common comment/question I get is "Hey, why don't you just move out???"

If it were only that simple...

This is something I would love love LOVE to do, but I don't think I can afford it. I am underemployed. Full time jobs are hard to find. I do have the option of getting a second part time job, but that wouldn't give me benefits like a full-time job.

I have 50K worth of student loans, how on earth I would be able to pay rent, bills, gas, and food along with those student loan repayments (I calculated it will be around $500-700 a month)?

Well, I know I am no unique snowflake in this regard. I am assuming most 20-somethings who do live on their own, have some sort of debt...and car payments (thank God I don't have to worry about that one). I am wondering how do they do it? Am I missing something?

With my situation, I want to know what my options are.

credit ratings across nations

Anonymous — Tue, 13 Jan 2009 11:34:02 -0800

I was born in the US, lived in Canada for ten years, and moved back to the States last year. While I was in Canada, I built up a solid credit rating- I had two credit cards, an unsecured line of credit with low interest (7%) and overdraft protection on my checking account up to $3,500. At one point when I was underemployed I built up some credit card debt, but I payed it off. Last year, when I moved back to the US for grad school, I got into a bad pattern of leaning on my credit cards and low-interest line of credit to pay for moving and start up expenses. This June, the world financial collapse coincided with one of my own- I was employed super part time, was making around $750 a month and was struggling to pay rent and buy $20 worth of groceries a week. I just couldn't pay my debt, and I paid very minimally, then not at all. I know I probably should have called the bank and tried to work something out, but what can I say- I panicked and froze. Currently, my total debt load is $14,000 on the line of credit, $3,700 on the overdraft and $1,400 on my Visa. I've worked hard to hustle up jobs, and currently I am no longer as financially destitute as I was. I also have just now been taken to collections. I have an appointment with Canadian credit counseling (the reputable nonprofit that everyone goes to) on Thursday. I plan on amalgamating and paying off the debt.

My question is: how much, if at all, will my credit raring in Canada affecr my US credit rating? So far there seems to be no bleed-through- when I applied for a cell phone a year ago, with excellent credit in Canada, I was told that I had no credit rating in the US- not a bad one, just a nonexistent one. I told them I had great credit in Canada, and was told that the two systems don't relate at all, as the identification markers (Social Security Number and Social Insurence Number) are different. So I'm wondering, if that's so, if it might be so in reverse- that I could maintain good credit in the US even if mine in Canada has taken a hit. I'm not planning on taking out any new credit cards or debt, have worked up a budget, and all the good stuff- but I'd like to know that I could rent a car, not be screwed if I moved and am applying for a new apartment, etc.

Also, I've been told that the credit counseling service may not be able to help me, as I don't work one full-time job- I'm a performer and grad student with several part-time jobs, and sometime chunks of money from performance gigs, grants, etc. So I'm also wondering- given that they charge a fee, might it be better for me to work out my own deal with collections? I can defintiely pay off the small Visa ballance in one chunk this month, and can pay perhaps $500 a month towards the other two after that. Not great, but I could have this debt paid in three years if I stick to it.

Finally, does anyone know of any good budgeting software/budget plans for folks who are self-employed who don't have a regular paycheck? It's been a struggle for me to budget when I might only get $1,000 one month from my regualr small gigs, but then get $3,500 in one chunk from a university performance. Most budget info seems geared towards folks who have one, or two, steady jobs.

Thanks in advance!

more bang for my meager buck

mustcatchmooseandsquirrel — Tue, 09 Dec 2008 13:35:50 -0800

I'm going to Rome for one week in February. How can I cheap out on lodging while there? I'm traveling with my boyfriend. The trip itself is only affordable to begin with because of the awesomeness of EasyJet. We're planning on trying to couchsurf but, if that doesn't work out, do you know of any hostels/hotels/monasteries where we can stay for less than 30euros/night total cost? (if you have any other advice on enjoying oneself in Rome while not spending much money, that's welcome too!)

How is babby paid for?

Anonymous — Wed, 01 Oct 2008 08:41:35 -0800

Advice/resources for adjusting our household budget to accommodate a child? We are expecting a baby early next year and I'd like to start figuring out what changes will need to be made to our monthly household budget. I'm hoping that mefites might be able to share their budgets or about how much (%wise if you are uncomfortable stating specific amounts) you spend on things like health care/clothing/food/etc. and all the things that need to be added in with a child. And I'm sure there are those things that people who aren't parents would never think of.

If there are any sample budgets online that include this sort of information, I would appreciate any pointers to those as well. I'd like to leave our circumstances vague so that every instance and need that I haven't thought of can be covered in your answers.

(and I'm asking anonymously to keep references to our finances and "delicate condition" as minimal as possible on the interwebs)

What's your secret tip for saving money at the grocery store?

nitsuj — Mon, 15 Sep 2008 14:22:21 -0800

What's your secret tip for saving money at the grocery store? Even when we plan out meals for the week, the girlfriend and I always end up spending a lot more money than we'd like. We eat moderately healthy, love cooking, and pick easy to medium (in skill level required to make) dishes to prepare.

What's your trick for staying cheap and healthy at the grocery store? Looking for ideas beyond coupon clipping.

(Kind of like this question, only for food only (and not just websites!)

Help me cut costs without feeling the pinch.

HotPatatta — Tue, 19 Aug 2008 12:38:28 -0800

Obvious or creative--shameless or shady, even!--ways to cut costs and live cheap? Be creative; I'll determine the ethicality on my own.

Inspire me with your frugality

Anonymous — Tue, 08 Jul 2008 19:57:16 -0800

Total financial ruin filter: I am terrible at managing my very small amount of money. How did you learn to manage your money better than me? I don’t buy a lot of extraneous crap and I don’t eat out much. But I don’t budget either, and I’m constantly paying for stupid crap like overdraft fees and parking tickets – stuff that has to do with poor planning, also having to borrow from friends to make rent, bouncing checks, etc. Part of the problem is that I just don’t make enough money to get by. I’m going to school to get a degree in a field that offers much better pay than what I get now. I’ve also checked out some web resources about budgeting etc, and am meeting with a financial counselor soon. But I’m worried that the next couple years in school will send me into some horrible crisis that I can’t get out of! It’s even scarier because I have kids.

In the meantime, can you tell me how you personally pulled yourself out of financial crisis? Did you marry someone with better financial skills? Did you start making more money? How did you force yourself to budget and stay within that budget? How long did it take you to change your habit – or, if you were just born with good financial management skills, what exactly do you DO that keeps things sane?

Forgive me if this comes off as chatfilter, but I don’t think it is really. Your real-life stories are a good example to help me make choices about how I can do things better. Thank you!

Help me budget!

DMan — Sun, 06 Apr 2008 18:25:26 -0800

Given that I have no bills to pay, what percentage of my wages should I save and how much should I take as spending money? I'm a college student about to be home for the summer, and I'm in a unique sort of situation. Due to circumstances I won't go into (beyond saying that my family isn't rich), college tuition isn't a concern and I really don't have any other bills to pay. However, I do need to be saving money to get a start after college, which is why I'm asking this.

I've managed to get a pretty good summer job; I'll get paid $10 an hour and I can work anywhere between 20-40 hours a week--the hours I work are completely up to me. For the purposes of this question, let's assume I work 25 hours a week.

My question is, in your opinions, how much of this should I save and how much should I take as discretionary money? I understand the importance of a budget in that it enables you to not feel bad about spending money if you've planned for it, and I'd like to figure out a budgeting plan that lets me have a bit of spending money while still saving for the future.

So if I work 25 hours a week, that's $250 a week or $500 every paycheck, before taxes. 10% of that will go to my church tithe, leaving $450 for me (before taxes).

What percentage of this should I save, and what percentage should I keep for short-term spending? I'm not really asking for advice on how to invest the saved money since I'll be talking to an expert in that field in a month or so, but if you have any specific ideas about what to do with the money feel free to share.

Thanks in advance!

Recommendations for a financial advisor/accountant for a young couple?

scazza — Wed, 30 Jan 2008 13:51:24 -0800

Recommendations for a financial advisor/accountant for a young couple in NYC? We've read a lot about finances, but I would like to sit down with a person. I'd prefer someone who can do it all; to slog through all of our financial life, to ask questions of, to plan, to do taxes, not just someone interested in investing. I don't know if it should be someone who specialises in freelancers (arts and computing) if there is such a thing, and I think I'm looking for someone independent because I don't want to worry about prejudiced advice.

We both have irregular careers: his as a specialized-but-underpaid programmer doing both freelance work and a day job that changes every couple of years; hers currently studying but eventually working in a performing art that involves lots of travel and work accomodation (apartments) paid out of pocket (but tax-deductible) and pay on a performance-only basis.

With this in mind, we have no idea how to achieve our goals. We are relatively good at our basic budgeting and financial management but need help with saving for retirement (IRA) and a baby someday, managing his 401K (503b), improving credit, buying a home as soon as practicable (we feel like we're throwing money away on NYC rent), affording travel to stay close to family on three coasts of the US, plus the UK and NZ, and very necessary vacations. A wedding would be nice too but it seems too complicated already.

Thanks!

Family Budget Decision-making

Anonymous — Sat, 12 Jan 2008 16:37:36 -0800

Look, I truly do get the “know your income, know your expenses” bit about budgeting. And I’m pretty frugal in my habits. My problem is this, as the financial head of this family, I have to decide what we will spend our inadequate resources on. So in general, how to prioritise discretionary spending in a fair and efficient manner? We’re not broke-poor, but while I’m studying and working only part-time, we have limited discretionary funds. Before quitting full-time work to study, I locked the house rate in, and created a slush fund which is half gone, the remainder earmarked for a deposit on a second-hand car.

Specifically, here’s the competing stuff.

Teen daughter would like a mobile phone, more expensive razors than I currently buy, hair dye, professional haircut (not boutique, just not at home) ,hair product to keep the haircut looking normal, eyebrow waxing (again, not at home) and a new electric toothbrush (after her alleged neglect killed the last).

Teen son would like university books paid for, regular junk food (ie two bottles of Pepsi a week and an occasional pack of chips (not a real lot), fixings for pizza – his main food group), transport to uni (train, bus, bus), occasional LAN party permission where two other very tall people come and eat chips and drink Pepsi and sleep in the daytime.

Husband (& major breadwinner) would like new computer (his died) but not bottom of the range for WOW, must be good enough to do coding on (don’t ask me, I just work here), a new washing machine (the current one puts lint all over our clothes), a new dryer (the current one works intermittently) and the rights to buy lunch at work. He also feels that a Wii and a big screen tv would bring the family closer together.

My list: buy a second-hand car (we don’t have one currently), send husband to the dentist for the tooth chipped over a year ago (no, he doesn’t want to go), replace guttering (okay pipe dream), have a trip away (camping or some such cheapo thing), get a fence, get a whippersnipper.

Clearly, the kids need to get jobs, but without licenses (they’re too young and we don’t have a car) most of the jobs they’re eligible for involve them walking home in the dark (I don’t like that for my daughter) or spending most of their wage on taxis (pointless and public transport around here is pretty tragic). I could earn more money but I’d have to quit full-time study (and I’m up to my last year with 264 days to go, not like I’m counting).

So again, how to prioritise discretionary spending in a fair and efficient manner?

Next week, how to encourage a very shy teen boy that being a check-out chick is fun and profitable.

Online financial resources

meghanmiller — Sun, 30 Dec 2007 09:59:20 -0800

What are the best online financial resources? I've searched old threads and found a lot of information about how to save money, but I know how to do that. What I want, at this point, is to *read* about saving money, or about eroding debt, or developing/maintaining a budget.

My family has a budget and a savings account -- neither is especially extensive, at this point, but it's something that we're working on. Because I find the subject interesting, I want to read more blogs and websites about finances, as well as examine other types of financial software, calculators, and spreadsheet setups. Google returns so many hits (and so many of them shady-seeming) that I'm overwhelmed, so I turn to the wisdom of MetaFilter.

Possibly relevant information: I have no financial background, save for a few years working customer service for a credit card. I started looking into this sort of thing a few months ago, and I had to look up what a money market account was--we're talking about personal finance for morons, here. I'm not especially interested in stocks, simply because it's not something that I have the means to explore at this point. We are not homeowners, nor do we plan to purchase a home any time soon.

I have a five-year-old child, a partner with whom I share finances but to whom I am not married, two cats, and debt that, while not insignificant, is not out-of-control and is being paid on.

Currently, I read a handful of blogs, have an INGdirect savings account, have an unfortunate-looking budget that I made with my (very limited) Excel skills, and have just downloaded PearBudget.

What are your favorite online resources? (Online is important here, as well--I have a stack of personal finance books that I'm making my way through, but I have more downtime sitting at a computer than I do downtime sitting around where I can easily read.) What would you recommend to someone learning about personal finance?

Paying for the KaosPilots - Fundraising for Denmark

divabat — Thu, 06 Dec 2007 23:22:08 -0800

How can I raise funds to afford studying as a KaosPilot in Denmark? I'm planning to apply for the next team of the KaosPilots. There's a few phases to this:

Phase 1: Application - starts mid Jan; free
Phase 2: Application workshop - two days in Aarhus in April for those who are shortlisted. Have to cover my own costs.
Phase 3: Start of the program, in September. Fees apply.

I'm trying to get funding for Phases 2 and 3 (getting to Aarhus for the workshop, and actually paying for the program if I get in). I have a pretty good shot at being shortlisted for the workshop as I've been shortlisted once before (for Stockholm), I have the support of some of their board members (including their founder), and I'm in close contact with the admin. Getting into the program proper is a bit less certain, but as I will have very little time in between, I'll need to start planning now.

I've made a budget and the living costs (health insurance!!!) are killing me. The actual education's cost is a bit cheaper then that of my current Australian uni, but it's still a substantial amount of money to think about.

I've been trying to look for funding, but I'm at a loss. Here's why:

a) It's not exactly "saving the whales" or "helping children in Africa", so people don't really see me as enough of a "charity case" to support
b) My parents are in a high enough income bracket that I sometimes get told off for being a rich kid. However, they're not willing to fund something like this, and quite honestly I don't want their money anyway (don't want their control over me)
c) The KaosPilots don't have any scholarships (they did say they MAY help with funding), the Danish government doesn't give aid to non-Scandinavians, Malaysia and Australia have no scholarships or grants for this sort of thing
d) I've never really been good at fundraising
e) Outside Europe (and especially in Malaysia) the KaosPilots are unknown - people are skeptical (I've tried fundraising before for a different project. Everyone thought I was joining a cult, and demanded letters from Fortune 500 companies, Ivy League schools, AND the United Nations before they'd listen to me. Seriously.)

Some things that are to my benefit:

a) The KaosPilots have significant partnerships with many top companies (LEGO, Apple, etc) so I can try contacting them
b) If accepted, I would be the first person of Asian origin in the KaosPilot's history, which is significant on their end
c) I plan to use the KaosPilots education to learn how to set up youth-oriented projects in Malaysia and the region
d) As I said earlier, I have some moral support from key board members - not much in the way of financial support though.

What can I do to raise funds for my KaosPilots journey? How do I get in-kind support (plane tickets, Mac laptop, etc)? How do I get publicity for this?

I've read that many people write letters to companies and then follow up by phone to set up a meeting. Who in the company should I target? How soon after should I follow up? What if I'm not in the same country as the company?

I've also read of some people who fundraised by selling "shares" in their project. In return for their investment, shareholders get updates on their project and a thank-you dinner (and some other things which were not mentioned). I like this idea but I'm not sure what I can offer to investors, besides food, updates, and consulting/speaking sessions. How do I pull this off?

How else can I fundraise? What grants, foundations, scholarships, etc are there for me to make use of? How do I get over the bump of this being more of a "selfish" project (there will be community benefits - the KPs do a LOT of real-life project work - just not immediately)? What creative ways are there to fundraise?

some ideas i've thought of:

a) Selling personalized stories (I like writing)
b) Selling shares (as mentioned above)
c) Selling off all my possessions (this would only get me a measley amount though)
d) Writing to the city councils of Aarhus/Johor/Brisbane
e) Writing to the Danish Club of Brisbane
f) Get people to donate to me online (tried this before; doesn't work so well)
g) Host a party or a concert and charge admission (perhaps possible in Brisbane)

I'm on holidays the next 3 months in Malaysia so would like to get some Malaysia-related fundraising done now, then from February onwards I'll be in university in Australia. My student visa only allows a max of 20 hours/week work and no job with that limitation will pay me enough to afford anything (though it is something I'm looking at).

What else can I do?

Software for money management

chef_boyardee — Wed, 03 Oct 2007 18:43:16 -0800

Help me micromanage my household money! What software program should I use? What Windows software programs are out there that will easily help me import bank statements (such as .qif files) and combine that with debts, small bits of stock holdings, etc, to show my equity and how it's doing? I'd also like something that can help me set budgets. Graphs and visualizations are great.

I have a copy of Quicken 2000, which will probably work okay, though it's a bit on the side of bloatware and a bit kludgy to use, so I'm seeing if maybe there's a better approach to this that I've missed.

I suppose setting up a spreadsheet is the other alternative, though that might be tough filling in 100 bank transactions a month.

Need a quick and easy system or app to help keep track of small transactions while I'm out.

iamkimiam — Sun, 05 Aug 2007 15:01:39 -0800

I am looking for a good way to use my iPhone, Mac, and/or .mac account to keep track of small amounts of money that my friends and I owe each other. Any suggestions? Here's a typical scenario:

Friend: Hey, let's go to this concert!
Me: Sure, I'll buy the tickets and you can pay me at the show!
(two weeks later, while shopping)
Me: Crap, I don't have enough cash for this must-have thing
Friend: Oh, I'll buy this for you now; then I'll owe you less at the show
(two weeks later, at the show, trying to figure who still owes whom what)
Me: ?
Friend: ?

This happens a lot. We're not trying to scam each other of course...we're just having a hard time keeping track of and remembering this stuff when we're out.

At home I'm a super organized person...I use Quicken, .mac, iCal religiously. Now with the addition of iPhone I feel like there must be an easy way to organize all the small, on-the-fly money exchanges between me and my friends.

I am looking for either A) a method to keep track of stuff (earlier today I tried to send a text message to myself, so that I wouldn't forget that my friend and I are now evened up on a future event), or B) an app, widget, or calendar thingy that will make sense of these types of transactions.

I know it seems like overkill, but I really am that forgetful (especially when fun and alcohol are involved), and having a quick and easy "system" would help greatly. It'd also be great if the method/app wasn't a PITA elaborate scheme, so that my friends don't start thinking I'm a freakin' tightwad who must bust out her fancy pocket calculator every time a bill shows up. Also, my friends and I help each other out a lot, and that's part of what makes our friendships so fantastic, so suggestions about refusing to lend money or whatnot aren't going to be all that helpful. Thanks!

Traveller looking for ideas to further finance trip beyond the 40 hour work week...

ageispolis — Thu, 05 Jul 2007 13:44:33 -0800

How can I access/acquire more funds for my upcoming trip to Asia? I am currently working fulltime with as much overtime as I can trying to save enough money to travel to India/Thailand in January 2008. I've crunched some numbers and realize that in order for me to be able to comfortably backpack for 6+ months, I am going to need a considerable amount of money on top of what I will be making in order to fulfill my plans.

What are my options to fund this trip beyond what I am already doing? Specifically, are there grants or bursaries for students taking a year off to travel? I am a Canadian Citizen, if that matters. Should I consider a work visa and is it helpful in Asia (mainly India, Thailand, Turkey, etc)?

I intend to keep an extensive travel journal as well as take photographs. I have skill in both these areas. Is that worth anything as far as sponsorships go? I've heard of companies sponsoring individuals who later come back and "present" how great of an investment their company made in you. Will companies actually do this?

Any other ideas? I'm open-minded and willing to take that extra mile to make that extra buck. Thanks.

Budgeting around strange timings

sarahsynonymous — Wed, 09 May 2007 00:03:28 -0800

How do I conceptually wrap my head around a monthly budget that doesn't want to play by the rules? My money matters are fairly simple, but the timing is killing me. At the moment, my monetary issues aren't too complicated. Basically, I work a full-time job, pay rent and all those related bills, and am steadily paying off a car, student loans and very minimal (under $500) credit card loans. I've kind of been playing fast and loose with budgeting, which has miraculously worked up until now, but I want to get a firmer plan to make sure that I stay strong and can start actually saving and investing.

The things I've read about budgets seem to deal with a pretty simple monthly format: you get paid once or twice a month, bills come around once or twice a month, incidentals are sprinkled throughout. However, this isn't my case. At my work, they just changed to a payroll system that pays us once a week; I've already asked, and this can't be changed. My bills are also agonizingly spread out over the course of the month, with several hitting every week; I'm not sure how flexible those dates are, and a few of them are automatic debits anyway.

I'm having the most trouble dealing with getting paid weekly. I realize it's the exact same amount of money coming in, but when it's coming in small bursts, I can't get a handle on the bigger picture and savings and all of that. The bills are also frustrating to keep track of, because they all seem to crop up randomly. I feel like my money is always slipping away and I'm sort of on the brink each week, like I should be holding my breath every time I go to check my statement online. But I just don't know where to go from here.

So basically, does anyone have suggestions for what I should do, conceptually and/or practically? I'm considering having my paycheck directly deposited into my savings, and setting up a biweekly/monthly transfer from savings to checking to mimic a more sensible pay period, but I don't know if that'll just confuse me further. Oh, and I'm a Mac user, if that helps.

Thank you ahead of time!

Hating our money life right now

frosty_hut — Mon, 09 Apr 2007 14:53:11 -0800

Will budgeting help? My husband takes home 47k per year, I bring in about 17k, and we split the rent. He pays for the car and maintenance (no payments, just gas, upkeep and insurance), our cell phone service, and most of our food and household stuff. I pay for Internet access, cable, and most of our frou frou crap (shampoo, etc.), plus, I don't know, 80-90 percent of my own girl-type stuff: clothes, makeup, shoes, that kind of thing. Our rent is $900. We have no kids and we got out of debt a year ago, but we're constantly broke.

This bothers my husband more than me. I would like to have more savings, he would like to have more cash flow, but we both see the need for each of these things. Right now we're winging it and suffering for it. For instance, I just got a check for $680 for a contract job which may turn into full-time employment. I kept $300, gave $300 to my husband, and put the rest in our joint savings account. I spent most of my stash on clothes (this is a classier place of work than what I'm used to), and a few non-essential, comfort purchases that I just wanted to treat myself to (the contract job has been brutal as all get out, but they like me and will probably keep using me and I want to keep it that way). So I didn't strictly need to spend all of my half of my money, but I did, and I think my husband's hissy fit this morning had something to do with it. He does these slow burns about my spending habits and there's nothing I can do, I don't think, other than to try to weather it. He does occasionally say: "I'm not going to get upset about those things anymore," but he continues to do so.

In my mind, I'm okay. I gave him half my money and did what I like with my piece. So I spent it, so I earned it, right? Or do I need to be more sensitive about plugging in the gaps in our joint financial situation? Is a budget, which I hate the thought of but would be willing to try, our best solution?

Any Dave Ramsey Fans?

keep it tight — Mon, 19 Mar 2007 18:28:18 -0800

Anyone out in the hive have any experience with Dave Ramsey's programs? I have been reading his Total Money Makeover book, and it seems to make sense... Thoughts?

Help me build my monthly budget for living in Los Angeles.

JPowers — Wed, 24 Jan 2007 10:42:01 -0800

Help me build my monthly budget for living in Los Angeles. This question may be way too specific and fact intensive, but I thought I'd give it a shot.

I'm moving to LA in May. I'm trying to put together a budget now so I will know what kind of life I will be able to afford.

What I need help with is general advice on how accurate my estimates are.

Here is a link to my budget spreedsheet (via Google Spreadsheets). Note that there are two tabs:

(1) Income Estimates -- how much money will I actually bring home each month after taxes, deductions, etc. Note that I used this site to help estimate our state income taxes, and this site for Federal taxes.

(2) Monthly Budget -- how will I spend my money.

I have one specific question, and one very general "how's it look question."

Specific Question: to estimate "Deductions & Benefits" (stuff like insurance, retirement, teacher unions, social security, Medicare, etc. -- all the non-tax deductions) I used 14% of our incomes, which is roughly what it is right now for us in Texas. Is this accurate? How can I better estimate this? If it helps, I'll (hopefully) be working as a Hollywood assistant and my wife will be a teacher at a LA public school (likely LAUSD).

General Question: do you see anything that is clearly an under- or over-estimation?

Is there anything that is likely missing from the monthly budget?

Thanks in advance for anyone willing to help with this.

How to sell an upside down car?

farmersckn — Wed, 15 Nov 2006 17:34:53 -0800

I owe more than my car is worth. My monthly auto-expenses are too great. I would be better off with a truck. Advice? Car: 2006 Toyota Corolla S, 24000 miles, 5 year, 100,000 warranty, Kelley Blue Book says its worth $15000 making me $6000 upside down (See Loan).

Loan: $21000 left to go, $390 per month

Insurance: $350 per month, Progressive, must carry full coverage and $500 deductible. So far Progressive is cheapest. Expect insurance to go up in December (see Record)

Record: 1 speeding ticket, 1 small accident, 1 new speeding ticket will hit in December

Discounts: Will turn 23 in July. Was told this would lower my insurance rate.

Desire: 1 pickup truck in decent shape with decent appearance, to be used for handyman/construction work.

Budget: Paying $800 per month for loan payment and insurance. Would like to be less than $500.

Summary: My car is too expensive, I'm upside down on my loan, I don't need this car, I need a truck. I can't afford the monthly expense for this car. I need something cheaper. I can't sell this car because it is upside down and I need to pay off the loan before I can transfer the title (I assume). I've got one month before this car gets more expensive.

Anyone have a suggestion?

Do you have any tricks to ensure that you track your money?

bigmusic — Mon, 17 Jul 2006 10:28:11 -0800

Do you have any tricks to ensure that you track your money? I would like to track what I spend and what I spend it on. I have MS Money 2006, but I hardly ever use it. I could use Money, but I find it hardly ever categorizes everything correctly. This is really more of motivation thing then a "how to" or "what's the best system" question.

I've thought about just using checks, but that would be giving up the convenience of my debit/cards (plus the tiny percentage money back I get for using them.) I use my cards for everything. I save all my receipts in my wallet and empty them into a manila envelope when my wallet starts to feel too big - which could take a few weeks - . I would like to go thru my receipts and itemize everything; the problem is getting around to doing that.

I've also thought about keeping my debit/credit cards in my receipt envelope and until I put those receipts in the system (spreadsheet or MS Money or a logbook) I would have to use checks (that I would keep in my wallet) until the receipts are put in the system. Does anyone have any better suggestions then this?