Tag Archives: Money Management

Forced Money Management

In my previous business world experience, we had a saying “bad business makes you smarter.” The theory behind this was if your business was bad it forced you to research and evaluate all that you were doing. If business was good, you simply sat back and enjoyed the ride – even if there were things that you could do better, there wasn’t any incentive to work any harder. This philosophy plays out in many families as well. The budget doesn’t get pulled out until a time of financial strife, either forced or chosen. Even with all my money experience, my … Continue reading →

Throw your Checkbook Away!

What did you say… throw your checkbook away? Now, that certainly sounds like a crazy idea coming from a money blogger. Shouldn’t you be on top of your bank accounts? How can you do that without a checkbook? The problem with a checkbook is that it is deceiving. If it is accurately kept, it only shows you the money you have at one point in time. It doesn’t explain that there are still 5 more bills to pay this month, or your paycheck next month will include your bonus. This snapshot can actually be misleading and provide you with an … Continue reading →

Change How You Feel About Money

Do you find yourself avoiding anything to do with managing your finances, because you are just too broke to deal with it? Are your afraid to open the next bill? Do you avoid checking the balance on your checking account or credit card, because you are worried that you have gone over your limits? If any or all of these statements are true, then it is time to begin to really take chare of your finances. It may take awhile to really get a grasp on your finances. You may have months with a few mistakes here and there, but … Continue reading →

The Gimmes

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It’s often hard for young kids to separate a need from a want. As parents, it’s our responsibility to help them learn to decipher on their own this difference. Tyler has developed a case of the gimmes. As we plan for our return to New Orleans, part of this planning involves having to totally restock our home including his bedroom, of course. As such, he has come up with a list of items that he wants. Notice I said “want” not “need”. Some of these items include a candy machine, a file cabinet, a 40-inch plasma TV and a paper … Continue reading →

Start Budgeting Now!

Budgeting is long time consuming process, especially when you first begin. It can be emotionally draining because it forces you to evaluate how you are spending and saving money. Many people dread budgeting because it makes them feel restricted and poor. Others may not budget because the entire thing is so overwhelming that they do not know where to begin. While it may take a little bit of work at the beginning, budgeting really is not that much more time consuming than balancing your checkbook. It allows you the freedom of how and when to spend your money. You will … Continue reading →

Five Financial Minutes Each Day

Do you feel like your finances are spiraling out of control? Is it difficult to find the time to balance your checkbook every month? Are bills late and important paperwork forgotten because you just feel so overwhelmed by what you should be doing? The easiest solution is to just spend five minutes a day looking at your financial picture. It really only takes about five minutes to glance at your balances, record any receipts you may have and check to see how much you have left in each category. If you are married this activity works best if you do … Continue reading →

Are You Experiencing Budget Burnout?

It is very easy to become burned out when it comes to budgeting. This problem magnifies when one spouse is a budgeter and the other is not. This can create a tension in the relationship, because one spouse is constantly asking the other if there is money to spend this or that or even worse just randomly spending the money on unexpected things. So how do you deal with budget burnout? One way to help avoid is to have both spouses plan the budget. It is important that you set up a realistic budget that you are both comfortable with. … Continue reading →

Time is Money

With almost every discussion of spending money, the concept of time arises. In most cases this is absolutely true: time is money. It is the heart of saving and spending, each time you make a purchase you are evaluating this scenario. Additionally, as you drive to work each day, this concept arises again; your time is worth money. While this theory is simple, it is important to stop and talk about it once in awhile. Let your mind wander… where do I spend my money and where do I spend my time? Do the answers appease you or worry you? … Continue reading →

Do you Need a Budget if you’re not Strapped for Cash?

The day I found out I was pregnant with my first child, my mind started racing with all sorts of plans and thoughts. Of course, one on my main concerns involved money and the costs associated with a new baby. I also strongly desired to quit my job, take an extended leave, or work part-time as a new mom. I wasn’t sure what my options actually were, so I immediately began to analyze our finances. I have to admit, I had never had a budget before this time. Amazing all the ways becoming a parent changes you! Immediately I began … Continue reading →

Budgets and Diets

For me, a budget is much like a diet. You start off motivated with a new plan and then it loses its luster and you are back off of it. Some call it yo-yo dieting, in this case, we will call it yo-yo budgeting. Whether it is a diet or a budget, the general concept is to control calories or spending enabling you to lose weight or manage your money. One of the reasons so many diets fail is the initial excitement wears off and the process becomes too time consuming. This can also be true of a budget. The … Continue reading →