Reading about budgeting made me think of this. When I was a teenager, babysitting was my "employment". I would get paid 50 cents an hour (starting at age 14) and worked up to getting 75 cents to $1.00 an hour (by the time I was 17).
If I wanted to buy something I saved for it. I had envelopes that I had written the item I was saving for on. For example, I wanted to buy a class ring and I saved my $25.00 (over a year) for that using my envelopes. I wanted to buy a school yearbook for $10.00 and I saved for that. My dad was out of work for quite awhile, so things like yearbooks and class rings weren't in our budget.
When I would get paid say $3.00 for an evening of babysitting I would put 50 cents in one envelope for this, 50 cents in another, etc. I would always make sure I saved out money for "stuff" (which usually ended up being candy or soda for my siblings and myself or things for my bedroom).
I used this method until I graduated high school. After that I got a "real job" and a checking account.
That is an awesome approach, as juvenille as it may seem, I don't in no way mean to be offensive, but it is so simple, it just makes sense. In fact, I am going to start using this. Pulling it away and putting it in these envelopes would help me say to myself, "You can not have access to this money, this money is for something much bigger than what you have saved for and you are not there yet".
Thank you for tip, I am gonna start with two envelopes, a short term and a long term, I thought about pulling money and putting it aside, but never did it. I just sat down this morning and figured out what we have left over each payday. We have more than enough to make it, but I have no idea where all the money goes. I am going to start writing it all down, putting the reciepts in an envelope and looking at them all at the end of the month, then I will have a better idea.
It was juvenile---because I WAS a juvenile (LOL). But it worked so well for me. I am glad you can benefit from it. Good Luck!
LOL, I am glad you are here Lorri, you have brought a good twist to this forum.
Thanks, goodnatured---you aren't the first that has remarked on the twist I seem to bring everywhere! :roll:
Awwe so sweet lol. I do like your idea. I do that now, in a way, with a seperate checking account. We have one that goes to pay bills, gas, and other things. I set up a different one when we started construction on our house. It was used up pretty quickly but I kept it open because now I add to it every pay or from extra money I make here and there. We both know that checking is untouchable except for things like fuel, taxes and other things that take saving for.
I just wish that I had carried on my money management ways as I grew older. When my sister still was 18 she worked full time at McDonalds. My mom and I were going on a trip to Florida and of course, my sister wanted to go. She said "but, I don't have enough money and I don't make enough. This was about 6 months before the trip. I said to her "you give me your paycheck and I will not only get your bills paid, but you will have enough for the plane fare and spending money. And guess what---she went and had plenty of money. Of course, she didn't have many bills or obligation, but all I did was manage her money.
What I think is that money budgeting is essential for everybody. Budgeting is a such a important thing that if a person is not aware of it from the very beginning, he may fall in bad debt. So it is always essential that whatever you earn, you should save at least a small percentage of it. Doing this you will not be required to undertake debts like payday loans in case of emergency and hence will never fall into bad debts.
Ah yes, so very true. I look back (hindsight is always 20/20) and I wish I had done things differently with money as I got older. Oh well, onward I go.
Yes Lorri to all you said above I agree. Sometimes we see things we should have done better but you can not cry over spilled milk...just refill the glass instead.
and refill it, and refill it, hell I may as well just buy the cow, LOL
I live in pseudo-country (which means it used to be rural, thats why people moved here). Now we are a city of 100,000 and some people still think its the "country" cause we still see rabbits and coyotes. But, no thanks on cow tipping.
See----again---it all boils down to FOOD! Money, food, and "you-know-what" always, always invites CONVERSATION!
Isn't that the truth. Real conversation starters. We also may want to add debt to that list. Isn't that how we all got here?
Of course----Our faculty meetings at school will usually go smoothly until someone mentions food and that can distract everyone. We solved that problem recently when we started signing up to bring food to the meetings! They are right after school so eveyone is always starving.
It is tough to have an after work meeting anyway, it seems like our staff loves to eat too, we are always eating for this or that, I always say that if someone breaths we have a luncheon.
I'd be there for the food. Now we have to get back on the subject or risk see our points magically disappear.
oops, sorry
well, I use the plain ole paper and pen to do my budgeting, I am afraid to put it all into an excel spreadsheet.
Anything that makes me look at the long term is scary. Itry to focus on month to month.
ooohhh--excel is so scary! I don't like to put my debts down on that permanent of a place. Give me paper that I can crumble up!
And throw away..even burn...No excelling in this mama's house. Unless it is at school work. Yes I am just trying to suck up and hope I can be your pet. lol
HAAAA! you have to BRIBE this teacher (j/k). I will do most anything (!) for candy! I have a jar of Skittles on my desk that I use for rewards and treats (1 skittle is the prize---you get 2 if you remember to say thank you). My students act like I am giving away big prizes and really work for that 1 Skittle.
I like how you included saying Thank You. Do you realize how little the phrase is used anymore. I really think manners is one of the best taught things to a child. you already know what education means to them and we all put this on top of the priority list. I really believe using manners should be there also. I love a well mannered child and it tells me alot about their parents and will benefit them later in life along with the education.
Manners were always a big thing in my house, so it kind of transferred over to my teaching. I also expect them to answer me and say either yes ma'm, no ma'm or yes, Mrs. Thomas, no, Mrs. Thomas. I expect them to answer me when they are spoken to (and that of course, is good manners). The parents appreciate it as well. I also am on them if they shrug their shoulders instead of answering me (a big petpeeve) or say "huh" or "yea".
Do I sound like a tough cookie? The kids all know you don't get away with much in my class, yet they all say "you're the best second grade teacher I've ever had".
Do we have to go back to the food subject AGAIN. I already failed that class. Anyway I don't think it is too much to ask for good manners. Do you think your second grade class could teach some of these debt collectors some manners. I think that is one big reason why they irritate me so much...I never liked bullies.
Yes--they probably could. I guess we should feel sorry for debt collectors. Poor things---couldn't get real jobs. :roll:
We used to discuss this pretty heavily on the debt forum, we decided that they are people with low self esteem and people that have control issues in their life. We decided that they should seek some professional help, and that it should be a benefit to working the job, LOL
I have read andbeen in on some of those. I suppose we shouldn't condemn them ALL. But, I think the bad ones gave the industry a bad name.
I have yet to see a good one. they probaly do have it pretty bad though ...imagine the poor guys if they were dealing with all three af US at once. We could offer prozac.
LOL-----then they would have a positive self-esteem, quit their jobs as collectors, join the real world and become regular like us?
Can we get that Lucky?????
Different people do different things. For example I don't budget at all.
Really? Can you explain how you manage money and maybe give me a little insight (or at least a different perspective)?
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Sometimes it's hard to budget your money. We all have intentions to do so, however,...things come up. Car repair on something, unexpected issues, etc. It can get frustrating sometimes. Sometimes I put bills off to buy my child what he needs ( school, etc.). But......yeah...it can get crazy being a single mom.
I was there once SD and know what you mean. I am lucky enough to not be behind on any bills and still take care of emergencies...as long as they aren't big. This takes my husband working 50-60 hr. weeks. Even with those hours we just can't seem to get things paid off. We just got soooo far behind last year that once we caught up taxes and other things were waiting.
When I was a single mom and my only income was cash aid from the county, my budget was so tight that I had to budget. It was a very big deal it seemed to buy ANYTHING. I had to save and buy things on layaway and at yard sales, etc. BUT, I survived and my daughter and I were none the worse for wear. Its funny how your perspective changes when you categorize things into "needs" or "wants".
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Yep...being a single mom can be hard. Not that I'm trying 'finding an excuse for things.'.....just sometimes, when I think I'm getting 'ahead' with things, things just fall apart. However...you DO deal with it. Any advice from someone 'on the outside' on how to deal with the tough times?
We all have had them and have not died from them so try not to stress too much. We all deal with stuff in our own way but if it is money you just got to do the budget thing. I know it usually comes up in the minus side but when it does that you have to sort it by priority. Meds, car repairs, food...all that HAS to come first. I don't care if the stack of bills is the size of a football field..If you don't supply you and your family with the basics you will end up sick or not able to get to where you need to be and then it only causes more bills.
I agree with fireyone---basic needs have to be met first. And remember it won't always be this way.
sdchargers---do you live in san diego?
No she lives in PA. I remember because we tread the same territory. I am also from PA. And Lori said it all SD...it won't last forever but until it gets better and even then come see us.
I meant sdchargers---does she live in PA? I know you said the GN does.
Yep that I was refering to both. They have both been on here since I have joined and have helped me tremendously with the PA laws.
There are alot of people on the forum from Pa, I know when I was on the debt forum there for awhile there were a ton of people from Pa there also. I am not sure about the other two forums. So are there alot of debtors in Pa or are we the only ones that come out and talk about it, LOL
It is really funny you made a mention of this because this was what the news station has said. PA is actually drowning in delinquent credit card debt. I wonder if this is because of the limitations on debt collectors for collecting on past due debt..like garnishments are not allowed unless it is child support or taxes. Do you know the complete details on how they can collect a judgement in pA. What are they allowed to attatch?
Nice money management. I was thinking of that same style you have for months or was it years already? Haha. But it is a nice one, right? Like if you earn 100$, 30% of that should be in savings, 10% for recreation, 30% for food and the rest 30% will go to other necessities. With that, it is a sure way to go! You still get to have that 10% for your own recreation and pleasure. :D
But application is real hard. :(
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PA Law does NOT allow Wage Garnishments....however, a CA CAN take the debt out of your bank account, if they have the information ( account number, etc.). I try to come up with a Budget. However, at times, things do come up. and it's difficult to 'keep up'.
They really have a battle if they go top take it out of your bank account. If they take it out illegally and you did not give them permission you can just fill out papers at the bank and they give your m oney back. After that the bank will go after them for their money so I can not see why some of thesse places waste their time but I am sure if someone did not know they could do this then they probaly get some to fall victim.
Hi Creditcruncher
Even if you cannot afford to keep 30% of your income towards savings, you should afford to keep at least 15% so that you do not fall in the trap of payday loans. Luxuries should always be curtailed as far as possible and you should spend more on necessities. In other words you should spend more on productive expenditure at least during this time of financial crisis.
great advice carol, a little is more than nothing. I send all the money that I make on my survey sites and forums to a seperate savings account, split between two, mine and our childs.
If you pay yourself first it becomes habit.
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Hey, GN,......i tried the 'survey thing'. Just isn't working for me. Do you do other forums, as well? Sometimes it IS hard just to save $5.00, now a days.