Comments on: Are You Obsessed With Your Finances? http://frugaldad.com/2010/04/26/obsessed-with-finances/ Money Saving Insights: Coupons, Smart Spending and Promotional Codes Sun, 12 Feb 2012 17:23:02 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: James http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40966 James Tue, 04 May 2010 14:42:26 +0000 http://frugaldad.com/?p=5258#comment-40966 i personally think its a good thing to have a strong relationship with your check book when you are just getting your feet wet in the financial world. this allows you to really understand the payments/deposits and makes you think twice before you buy something. seeing first hand what it takes to stay above water is a good things. Keep your head up Jason after all you are out of debt and thats great. i personally think its a good thing to have a strong relationship with your check book when you are just getting your feet wet in the financial world. this allows you to really understand the payments/deposits and makes you think twice before you buy something. seeing first hand what it takes to stay above water is a good things. Keep your head up Jason after all you are out of debt and thats great.

]]> By: Honey http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40936 Honey Mon, 03 May 2010 23:19:02 +0000 http://frugaldad.com/?p=5258#comment-40936 I also charge everything reasonably possible and pay off the bill all at once. I can't pay it off weekly because only the balance on the card when the billing period closes count towards rewards - I paid off the card every week for awhile, but discovered that I wasn't getting rewards equal to what I spent every month on the card. I also charge everything reasonably possible and pay off the bill all at once. I can’t pay it off weekly because only the balance on the card when the billing period closes count towards rewards – I paid off the card every week for awhile, but discovered that I wasn’t getting rewards equal to what I spent every month on the card.

]]> By: Future Money-Bags http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40896 Future Money-Bags Mon, 03 May 2010 08:48:31 +0000 http://frugaldad.com/?p=5258#comment-40896 I track my monthly Finance report, and keep updates about every 1-2 weeks. at the end of the month, I add all of the results to my yearly finance report. I use only 1 mastercard, and when they don't accept i rarely use checking account. All my checks go into my savings account. I rarely use cash-on-hand, but I always carry for emergencies when cards don't work. And if I DO use cash, I track it before i forget. For those that are just getting out of debt, and don't want to use credit cards, I suggest doing it anyways. Just pay off your balance before its due and never pay interest for it, I never ever have. ALSO to FD, I would suggest using 2 credit cards for all expenditures; This will cause your FICO score to increase more (as long as you are paying it on time and in full each month). If this is too hard to keep track of or to stay ontop of, just stick to one. :) I track my monthly Finance report, and keep updates about every 1-2 weeks. at the end of the month, I add all of the results to my yearly finance report.

I use only 1 mastercard, and when they don’t accept i rarely use checking account. All my checks go into my savings account. I rarely use cash-on-hand, but I always carry for emergencies when cards don’t work. And if I DO use cash, I track it before i forget.

For those that are just getting out of debt, and don’t want to use credit cards, I suggest doing it anyways. Just pay off your balance before its due and never pay interest for it, I never ever have. ALSO to FD, I would suggest using 2 credit cards for all expenditures; This will cause your FICO score to increase more (as long as you are paying it on time and in full each month).
If this is too hard to keep track of or to stay ontop of, just stick to one. :)

]]> By: » 18 Month Balance Transfer Citi® Platinum Select® Card | PT Money http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40893 » 18 Month Balance Transfer Citi® Platinum Select® Card | PT Money Mon, 03 May 2010 05:04:18 +0000 http://frugaldad.com/?p=5258#comment-40893 [...] Your Property Tax Stop Identity Theft with a Security Freeze Facing Bankruptcy and Foreclosure Are You Obsessed with Your Finances? Why We Blog – Part 1 Avoid Donating to a Fake Charity How Do You Use PayPal? Should Your [...] [...] Your Property Tax Stop Identity Theft with a Security Freeze Facing Bankruptcy and Foreclosure Are You Obsessed with Your Finances? Why We Blog – Part 1 Avoid Donating to a Fake Charity How Do You Use PayPal? Should Your [...]

]]> By: Steve in W MA http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40887 Steve in W MA Sun, 02 May 2010 21:59:23 +0000 http://frugaldad.com/?p=5258#comment-40887 I too used cash envelopes for a period but have moved over to making out a monthly spending plan with rolling category balances. I keep an index card in my wallet with all my budget category balances written on it in pencil, update it with my purchases, and refer to that before spending, in preference to my checking balance. And I do use my cash back credit card for many of these purchases because using this system I'm not going to spend beyond my budgeted amounts, so getting the 1-2% back on money I knew I was going to spend anyways makes sense. The credit card gets paid off like clockwork and it is a normal, non-stressful transaction: The money was already in my checking account and budgeted for things like gas, groceries, and clothes, I executed the purchases with my credit card, and now I am transferring the money to the credit card company as planned. I do use software to keep track of things: I use an Excel workbook of my own design, but YNAB is probably the best longterm option for those who don't want to spend the time programming, or PearBudget online which works the same way would be a good way to try it for a few months for $3 a month. I too used cash envelopes for a period but have moved over to making out a monthly spending plan with rolling category balances.
I keep an index card in my wallet with all my budget category balances written on it in pencil, update it with my purchases, and refer to that before spending, in preference to my checking balance. And I do use my cash back credit card for many of these purchases because using this system I’m not going to spend beyond my budgeted amounts, so getting the 1-2% back on money I knew I was going to spend anyways makes sense.

The credit card gets paid off like clockwork and it is a normal, non-stressful transaction: The money was already in my checking account and budgeted for things like gas, groceries, and clothes, I executed the purchases with my credit card, and now I am transferring the money to the credit card company as planned.

I do use software to keep track of things: I use an Excel workbook of my own design, but YNAB is probably the best longterm option for those who don’t want to spend the time programming, or PearBudget online which works the same way would be a good way to try it for a few months for $3 a month.

]]> By: MP3 http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40880 MP3 Sun, 02 May 2010 14:44:04 +0000 http://frugaldad.com/?p=5258#comment-40880 I use Quicken as well, but the full version that tracks investments and daily prices so I pretty much know where I stand every day. I too use my airmiles card for all purchases, including groceries - download the transactions every week then simply move the money virtually in Quicken between the savings account and the credit card - that way I'm still getting a small amount of interest until I actually have to pay the bill but know exactly how much money is needed to replenish the account when I get paid. Being only recently debt-free (consumer and mortgage debt-free for just over a year now) this is the kind of control I need to stay on budget and meet my savings targets for household repairs and property taxes, vacation, emergency fund and retirement planning. Maybe when I'm more used to the budgeting lifestyle, I'll not feel the need to know daily where I stand. Although, with the software it really is just minutes to bring everything up to date. I use Quicken as well, but the full version that tracks investments and daily prices so I pretty much know where I stand every day. I too use my airmiles card for all purchases, including groceries – download the transactions every week then simply move the money virtually in Quicken between the savings account and the credit card – that way I’m still getting a small amount of interest until I actually have to pay the bill but know exactly how much money is needed to replenish the account when I get paid. Being only recently debt-free (consumer and mortgage debt-free for just over a year now) this is the kind of control I need to stay on budget and meet my savings targets for household repairs and property taxes, vacation, emergency fund and retirement planning. Maybe when I’m more used to the budgeting lifestyle, I’ll not feel the need to know daily where I stand. Although, with the software it really is just minutes to bring everything up to date.

]]> By: Sunday Reading – RRSPs, Rebalancing, Greece and… | Million Dollar Journey http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40877 Sunday Reading – RRSPs, Rebalancing, Greece and… | Million Dollar Journey Sun, 02 May 2010 11:38:12 +0000 http://frugaldad.com/?p=5258#comment-40877 [...] Are You Obsessed With Your Finances? @ Frugal Dad [...] [...] Are You Obsessed With Your Finances? @ Frugal Dad [...]

]]> By: Free Answers for Your Personal Finance Questions http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40863 Free Answers for Your Personal Finance Questions Sat, 01 May 2010 18:39:42 +0000 http://frugaldad.com/?p=5258#comment-40863 [...] Are You Obsessed With Your Finances? by frugaldad.com [...] [...] Are You Obsessed With Your Finances? by frugaldad.com [...]

]]> By: Chance http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40851 Chance Fri, 30 Apr 2010 19:28:50 +0000 http://frugaldad.com/?p=5258#comment-40851 I too check my finances a few times a day if not more. But, about 8 months ago, I dropped MS Money (b/c they're no longer supporting it), and went to Mint.com (since bought by Intuit). Mint allows you to connect to your bank(s) and view your financial 'picture' all in one window. It connects to brokerage firms, banks, credit unions, etc. I've found this to be the easiest solution I've come across. Heck, Mint even has an iPhone application that allows me to check account balances, etc, on the fly, making it even easier....so I really don't spend THAT much time overall. More on the original topic, I tried the charge-everything-to-the-credit-card-and-pay-it-off-monthly approach a few years ago, and although it seemed like a good idea in principle, it simply did not work out for me. I found I slowly began to allow balances to roll over, thus being charged interest. If your're not as disciplined as FD, you may want to consider an alternative approach. I'm also a die hard Dave Ramsey fan, so no credit card usage for me....debt free (but the house) since 1/2010, and loving it. Your income truly is your best wealth building tool. My two cents...great site, BTW....just found it.... I too check my finances a few times a day if not more. But, about 8 months ago, I dropped MS Money (b/c they’re no longer supporting it), and went to Mint.com (since bought by Intuit). Mint allows you to connect to your bank(s) and view your financial ‘picture’ all in one window. It connects to brokerage firms, banks, credit unions, etc. I’ve found this to be the easiest solution I’ve come across. Heck, Mint even has an iPhone application that allows me to check account balances, etc, on the fly, making it even easier….so I really don’t spend THAT much time overall.

More on the original topic, I tried the charge-everything-to-the-credit-card-and-pay-it-off-monthly approach a few years ago, and although it seemed like a good idea in principle, it simply did not work out for me. I found I slowly began to allow balances to roll over, thus being charged interest. If your’re not as disciplined as FD, you may want to consider an alternative approach. I’m also a die hard Dave Ramsey fan, so no credit card usage for me….debt free (but the house) since 1/2010, and loving it. Your income truly is your best wealth building tool.

My two cents…great site, BTW….just found it….

]]> By: » Baby Is On The Way – Time To Start Planning: Link Roundup http://frugaldad.com/2010/04/26/obsessed-with-finances/#comment-40841 » Baby Is On The Way – Time To Start Planning: Link Roundup Fri, 30 Apr 2010 14:46:35 +0000 http://frugaldad.com/?p=5258#comment-40841 [...] Are You Obsessed With Your Finances? @ frugaldad.com [...] [...] Are You Obsessed With Your Finances? @ frugaldad.com [...]

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