brip blap: a quick and easy way to control spending
Dividend growth investor
· 1 year ago
Self management in any way is essential for personal and professional success. The problem is that few people choose to asses what they are doing. They like doing the "easy" thing and keep on spending more than they can affotd to. And what's even worse, they don't even think about ways to make more money. I was talking to some friends of mine about opening a certain online account that would give them a $25 bonus if they put $1 ( Etrade). And they looked at me as if I was going to scam them ( or if I was talking out of my....)
Curmudgeon
· 1 year ago
I have never budgeted, either. Over the years I've casually established a standard of living that is less than my income (and yes, Steve, and I have increased my income by establishing a part time consultancy as an LLC). I'm satisfied with how I live, and have a lot of money left over for savings/investment purposes. I don't think it's a matter of control, but rather understanding how you want to live your life.
7million7years
· 1 year ago
Thanks Steve - You'll have more to budget for now ;) I tried writing down ALL of my expenses (every penny that I spent) for just one month. It was eye opening when I did it, but never found the need to do it again.
Like you, I focus on the income FIRST and the expenses SECOND - income is unlimited; expenses <= 100% of what you earn. The equation is too compelling to ignore.
Pension
· 1 year ago
I have started keeping my expenses on a spreadsheet; it is just so handy for budgeting. Starting next week I am going to bring my lunch to work. I will be saving more on lunch a week than I spend on travel - crazy!
deepali
· 1 year ago
That's what I do (writing it down). Knowing I will be doing that makes me more conscious of what I'm spending.
Solar Yard Lights
· 1 year ago
Break everything down to the basics, so you can see exactly where your money goes. Many people have problems with finding out where all their money goes and they don't realize just how much money they do spend buy needless things or paying extra for stuff they don't need. So it helps a lot with having your expenditures right in front of you in some legible form. I have also recently started tracking down my expenditures vs. my income since the beginning of this year. You learn a lot by doing so.
punk cents
· 1 year ago
i started out tracking my spending in a small notebook - which i did for about a year - and it forever changed my relationship with money and spending. the simple act of having to go through the trouble of writing it down and knowing that i would need to deal with it later was often enough to squash the urge to spend the money.
as for my other bad habit, i'm not sure that i can quantify and document my love / heartache of my beloved sox. as my husband says -- it's not a disease, it's a privilege!! i'm not sure that they make a diary for that!
Steve (Brip Blap)
· 1 year ago
@Punk cents: Being a SOX fan is one of the most important bad habits to break. Join Yankee Nation. Resistance is futile. :)
All Comments
Like you, I focus on the income FIRST and the expenses SECOND - income is unlimited; expenses <= 100% of what you earn. The equation is too compelling to ignore.
So it helps a lot with having your expenditures right in front of you in some legible form.
I have also recently started tracking down my expenditures vs. my income since the beginning of this year. You learn a lot by doing so.
as for my other bad habit, i'm not sure that i can quantify and document my love / heartache of my beloved sox. as my husband says -- it's not a disease, it's a privilege!! i'm not sure that they make a diary for that!