Things You Should Be Doing, But Aren't

jeffrey · #1 (**permalink**) 10-08-2007, 11:20 PM

I find that most of the people I talk with about their finances already know 90% of what they need to know to get their finances in order. The main problem isn't knowledge, but a lack of putting that knowledge into practice. I'm just curious what things you know you should be doing for your finances, but aren't for whatever reason.

safari · #2 (**permalink**) 10-09-2007, 12:52 AM

I knew I should have started contributing to 401k when I first became eligible, but I waited 7 years because I wasn't thinking about saving money for retirement back then.

sweeps · #3 (**permalink**) 10-09-2007, 04:03 AM

I should be drafting my will, living will, powers of attorney, etc. but still have not.

Caoineag · #4 (**permalink**) 10-09-2007, 07:16 AM

No mad money. Its dangerous and I know it, but I just want to get ahead on a few things first. Sad part is, without mad money, you will almost always break budget for things that come up...

I am working on this. Sort of. (I have to earn my mad money by dropping the cost of groceries, it seems like the best compromise.)

Hot dog · #5 (**permalink**) 10-09-2007, 08:14 AM

I should do a strict budget where every $ has a name but haven't

Ima saver · #6 (**permalink**) 10-09-2007, 08:34 AM

I put off learning about investing because I had no one to teach me. I looked for books about investing in my (very small) local library, but there were none there.
I finally subscribed to money magazines and started buying financial books. I got a late start at age 44, but at least I got started.
I first thought having rentals would be the way to build up wealth, but it did not work out for us at all.

disneysteve · #7 (**permalink**) 10-09-2007, 10:11 AM

I should be shopping and changing my auto insurance every year or so. I got quotes on auto a couple of months ago, found a cheaper rate and never followed through. Same goes for life insurance. I met with my agent nearly 2 years ago and got all the rate quotes and never called him back to make the changes.

Broken Arrow · #8 (**permalink**) 10-09-2007, 10:48 AM

My friends know the basics and the virtues of saving and investing... because I talk them to death about it.

And yet, despite that, they haven't done it yet. Something about it that makes them stop short of actually doing it.

Of course, they're not alone. I also haven't done my wills yet. My thinking is that I don't have much to leave behind yet, and I'm not sure of the procedure. I know they're just excuses though....

Aleta · #9 (**permalink**) 10-09-2007, 12:17 PM

I also haven't done my will either. I think that it probably seems like a lot to take on at one time so most people put it off as well. I need to start with something smaller to do even if its a durable power of attorney to get the ball rolling and maybe that would motivate me to get the rest done.

Ima saver · #10 (**permalink**) 10-09-2007, 12:28 PM

We did get wills done, but they certainly need to be updated. I don't want everything going to the grandchildren like the will specifies.

scfr · #11 (**permalink**) 10-09-2007, 08:13 PM

I should look in to a HSA (health savings account).

cptacek · #12 (**permalink**) 10-09-2007, 10:11 PM

This thread inspired me to drop my HBO package - $14.99 a month, and I don't watch much anymore because I'm only here 2 nights a week and Big Love isn't on anymore. It's been on my list for a few months, but I hadn't done it yet. Thanks for the inspiration!

Also, I also canceled my Curves membership today. I haven't gone since February (since my knee injury) so that saves me $31 a month...cept I should have done it last week because the autodraft came out yesterday

I also started the process of switching my cell phone from cingular to alltel. My fiance had alltel, but on a prepaid basis, so I got an alltel phone, bundled with him, and now we can call anyone on alltel for free plus 10 numbers we designate as free, plus 300 text messages all for what I was paying for just my plan. AND I couldn't get Cingular from his house or my parents house. I still have to figure out how to text my phone from an email and then change my work pages to use that number instead of my cingular phone, and then I can get rid of that one.

I should give up eating out. I don't because I'm lazy.

I shouldn't drive an hour and a half one way every week to play volleyball with my sisters. I do because I enjoy playing, I can't find a team here, and I want to play with them.

I shouldn't drive 2.5 hours one way every weekend to see my fiance. I do because...um, well, I kinda love him

Broken Arrow · #13 (**permalink**) 10-10-2007, 05:09 AM

I really should look into cheaper internet. My current service comes with a premium price tag but... it's been heavenly.

Hot dog · #14 (**permalink**) 10-10-2007, 06:57 AM

I just got 358 from my HSA today. It is really easy and you don't see too much of a difference in your check. Also, if you get $2,000 taken out in a year and you spend 2,000 on the first you don't have to wait until you have put the whole amount in to get it back you can get it back in the first month

DayByDay · #15 (**permalink**) 10-10-2007, 09:08 AM

I need to do a better job at keeping my grocery expenses low. I was doing pretty well for a while there, but it's been really high lately.

Aleta · #16 (**permalink**) 10-10-2007, 11:15 AM

I need to look for a new insurance company that is more affordable and has better benefits. Health insurance is taking a huge or should I say a gigantic bite out of our budget.

My English Castle · #17 (**permalink**) 10-10-2007, 11:51 AM

I should also do wills, shred piles of old documents, and look around for cheaper term life insurance for DH.

But I'd like to compliment myself on parking in the free spots every day this week, even if it's turned cold and it's a 1/2 mile walk. Nice Job, self!

jodi · #18 (**permalink**) 10-10-2007, 01:32 PM

I should stop returning my library books late. I paid $3.60 in fines today, and $5 a few weeks ago. It's a small price, but one that is absolutely avoidable!

Aleta · #19 (**permalink**) 10-10-2007, 02:30 PM

Jodi: Can't you renew them? Sometimes I just need a few more days and I go online and renew them. I also take them back as soon as I can.

jodi · #20 (**permalink**) 10-10-2007, 04:05 PM

Quote:

Originally Posted by Aleta

Jodi: Can't you renew them? Sometimes I just need a few more days and I go online and renew them. I also take them back as soon as I can.

Yes, I can renew them online...and what's more, my library e-mails me the day before they are due to tell me that they're due! That's why it's such a moronic (and inexcusable) expense on my part.