Financial Habits

**robex** · 04-26-2006, 02:55 PM

Re: Financial Habits

We pay cash only, as well...using the envelope system is our best habit!

**Lemony** · 04-26-2006, 03:00 PM

Re: Financial Habits

Paying off our cashback reward CC in full. Usually we'll PIF the same day we make purchases.

**JoyJoy** · 04-26-2006, 07:35 PM

Re: Financial Habits

10% to where we get our spiritual nourishment from and 10% to help others...we do both on a monthly basis.

**Haku** · 04-27-2006, 04:47 AM

Re: Financial Habits

I would have to say that I enjoy saving and investing. To some, this is oh so boring and perhaps even depressing. I can understand that. However, it makes me laugh like a pirate boarding a hapless vessel.

Avast, Vanguard! Ye be coming on board! Yaaaarr!

**boefixepa** · 04-27-2006, 07:06 AM

Re: Financial Habits

The envelope bugeting system!! It turned my life around!! I still can not believe the difference. Now I find it fun to hunt for ways to get more money in savings!!

**Thrifty Ray** · 04-27-2006, 08:52 AM

Re: Financial Habits

I would have to say my 'Freedom Account'. (Thank you Mary Hunt)

Each week a designated amount goes into the account. I created a spreadsheet to break down each deposit is earmarked for. The different categories: Medical, Insurance, Car Repair, Clothing, Birthdays, Vacation, Home Repair, Pets and Miscellaneous. They each get a percent of the deposit- which was determined by yearly cost divided by 48. (When there is a fifth Friday, the money goes somewhere else).

I always have the money for those 'other' expenses this way...and it has been a real lifesaver for us! Ive been using this plan for about 5 years.

**Fern** · 04-27-2006, 11:07 AM

Re: Financial Habits

My 2o-yr habit of tallying up total income - total expenses each month, tracking investment earnings and net worth each month, keeping track of every expense. I've been doing it so long, it's really not that hard to do, and really keeps me on top of how much i have to spend and so on

**Ima saver** · 04-27-2006, 12:54 PM

Re: Financial Habits

I love Mary Hunt too, but I have been using the envelope method of over 40 years. Instead of putting down catagories on paper (or spread sheets, but I don't know how to use a computer), I put it away in envelopes and never borrow from them.

**boefixepa** · 04-27-2006, 01:28 PM

Re: Financial Habits

Ima, you shock check out the online evelope system...it's great. Never looking back to the way I did it before....so easy! It's through their web site I found this web site!

**lrjohnson** · 04-27-2006, 05:25 PM

Re: Financial Habits

I live way below my means, and when my income has gone up I have for the most part not spent my raises. I treat frugality as a daily tool, not something to be used when I "have" to. If I ever make huge money, I will still buy bread at the thrift store, because my feeling is why should I pay more when I don't have to? My 75 cent loaves rock.

**jodi** · 04-27-2006, 05:53 PM

Re: Financial Habits

Ditto to lrjohnson...living below my means. Also buying used whenever I can - clothes, toys, games, etc. Not to mention borrowing instead of buying when possible (love the library!).

**baselle** · 04-27-2006, 11:05 PM

Re: Financial Habits

I track my spending and reconcile money on a PDA every day. I can tell you what my balance is on any of my accounts in about 30 seconds.

**CJsoccerchic** · 04-28-2006, 02:45 AM

Re: Financial Habits

That's interesting - I've always wondered how good I would be at the inputting tothe dollar amount how much I spend on a daily basis - it's a bit harder when you have a signifcant other that has access to those accounts though...

**Haku** · 04-28-2006, 04:52 AM

Re: Financial Habits

I can not do joint accounts. It has to be separate, or I can't track my transactions.

Financial Habits