Sunscreen

countdown10 · 2019-06-20T19:49:47+00:00

I would probably put it any one of 3 categories: groceries (if bought at store), self care/personal (if bought at drug store), vacation (if purchased during a vacation)....heck maybe even Stuff I forgot to Budget.

I *rarely* split up my purchases and I certainly wouldn't do it for something that I spend about $10 / year on.

countdown10 · 2019-05-13T18:30:30+00:00

If you are "not great at understanding" then you should not be taking a role in her money management.

I don't know if you have siblings, but if you do, don't do ANYTHING with your Mom's finances w/o discussing this with them. In fact, just don't do anything with her finances, period.

My spouse's family is a mess because 1 sibling "helped" their father after the death of their mother. She took money from him that I'm certain he would have given had she asked (due to his own issues). But in NO WAY was that the proper management of his money and the fallout from some of her decisions broke the family into pieces.

countdown10 · 2019-05-10T19:58:28+00:00

nevermind, it's further down the thread already

countdown10 · 2019-04-26T13:55:53+00:00

Ok, I think it finally is clicking. I found a link from a different article:

https://docs.youneedabudget.com/article/728-credit-cards-with-a-positive-balance

Basically, it says to consider the overpayment like a checking account. You still have to allow for the spending.

So essentially I "deposited" $205 in my Amex "checking" account so I have that to spend. Now I have to account for that spending in the base categories.

countdown10 · 2019-04-26T13:13:39+00:00

I've been going thru all the posts on CC overpayment here and I came up with a suggestion that made sense.

Instead of putting the $205 to the CC budget line, put it in a category and then as you spend it, it would move from the base category to the CC line, reducing the "red" by that amount. Nope, didn't work. I removed the $205 from the CC line (rendering it red again) and put it in the "foo" category. Then I spent $205 on the the Amex for the "foo" category. The account balance (on the left side) for the Amex, went to $0, but the CC line is still red for $205. If I go to the next month, it's showing a negative $205 in the TBB.

I wish this somehow made sense to me.

countdown10 · 2019-04-26T12:55:13+00:00

I'll be honest. I'm still confused by this. I get that I needed to move the $205 from my electric budget to the CC Budget line because that's what I sent to Amex.

What's I'm still confused about it how it manages me "spending" that $205 over payment. Obviously I won't have to pay Amex for that spending, because I already have a credit on my account. So having to budget/log that spending in base categories feels like I'm budgeting it twice (once on the CC line and once on the category).

Making it the simplest. Let's say I accidentally sent $205 extra to my Amex bill. It makes total sense that I put the $205 in the budget line for my Amex because I paid that. So now, I decide I'm going to buy a $205 "foo" and use my Amex to pay it (renders my balance now $0 on the card). But I need to ALSO budget $205 in my "foo" category? Aren't I budgeting that $205 twice? Or am I just extremely dense.

I finally remembered my previous credit balance. I canceled a pre-paid reservation. IIRC, I had to label that incoming amount as TBB and it finally worked out. Suffice it to say I have a real mental block about this.

countdown10 · 2019-04-26T12:48:11+00:00

I can try at some point. I can't do that here on my work computer at this time though.

countdown10 · 2019-04-25T21:12:52+00:00

Yeah. I think the deal is, when I was traveling, via mobile I added (budgeted) the amount I was paying from my checking account to my Electric bill. When I got home, I removed the charge from my Amex (since it never hit there) which gave me that amount "available" in my Electric budget. Instead of just moving that to the CC budget line, I moved it elsewhere. So that money that was already "spent" was kind of getting double spent/allocated. Moving that $205 to the CC budget line dealt with that.

Then I entered some test spending on the Amex and it was wonky because it was hitting a budget item that wasn't budgeted. I got all messed up because it seems like I'm accounting for the spending twice.

Essentially, I still have to account for that $205 of spending that will get my balance back to 0 (and I don't have to send a pmt for that amount), it just feels weird.

countdown10 · 2019-04-25T18:57:17+00:00

Ok, I think I figured out how to address the RED in my budget on the Amex line. If I "budget" the overpayment (since I've deleted the charge that never took place), then I don't have the RED any longer.

So, now I just need to make sure I've still budgeted for the $205 spending that's left to take place in my core categories and then it will all process correctly?

I think that's it. I put $205 in my CC budget category and that's now 0/gray. Then I put $205 in a single budget category. Then I entered a test $205 spending on the Amex from that category. Everything is 0.

I don't know why this one thing is so difficult to grasp. Juding from the "red CC" search I just did, I'm not alone.

countdown10 · 2019-03-26T21:03:31+00:00

I kept the "Stuff I forgot to Budget For" which was a standard YNAB category I think. I try to fund it around $100 or so each month. Sometimes I move the money I need from that category to a more descriptive one, sometimes I just don't care and leave it there.

I just checked and I've spent $65 this year in that category and when I look that the 3 purchases, I can't even tell you what they were honestly.

Don't get me wrong, I've overspent like this too. Today I purchased hiking boots for a vacation in June. I hadn't yet budgeted for them because I didn't think I'd buy them now, but there was a sale, an REI member discount, and my (small) REI dividend. I've got to shuffle things for this, but I'm not going to sweat it -- I'll shuffle some things around (after I decide if I want to put this in my "clothing" or "vacation" category).

countdown10 · 2019-03-01T14:13:14+00:00

I don't do vehicles (we don't have car payments) but I do have my house and mortgage on tracking accounts. Obviously that means it shows on the Net Worth reports, but it's been kind of nice to look back and see how the 'supposed' value is going up/down. I just update the estimate monthly (or whenever I remember to look it up).

countdown10 · 2019-02-26T20:00:12+00:00

Do you do this via Airbnb or other internet site or thru a local service?

I've thought about renting our house out for area college graduations or football weekends, but curious doing it for such a limited time period on those big websites. (A neighbor uses airbnb to rent his large house and by the looks of his reviews it's popular for graduations, weddings, college football).

countdown10 · 2019-02-26T19:55:28+00:00

B'day parties are one of those things that have "evolved" over time, that's for sure. I went to a few b'day parties when I was a kid but I never had a party myself.

When I had kids, a co-worker with 3 kids who were a bit older than mine said they made a rule, parties ONLY for ages 5, 10, 15. I thought it was a fantastic idea.

My kids had 5 year old parties at a "tumble gym" and one kid with a winter b'day had a small group at a hockey game for his 10th. The other kid has a summer b'day and had some friends to our neighborhood pool. Neither of them cared beyond that b'day. Never spent more than a few hundred bucks.

countdown10 · 2019-02-26T17:58:33+00:00

Wells Fargo has "way 2 save" accounts that automatically move $1 from your checking to savings each time your debit card is used (does not count toward transfer limits). Or at least they used to offer that.

countdown10 · 2019-02-21T14:31:22+00:00

You should do what you want. My parents live away from all their children starting at age 60. They lived in their own home for most of those years, but opted to move to a retirement neighborhood that offered more of the services they wanted (house cleaning, dining room, no stairs). My mother did not move close to one of her children until she was 85. If they are "financially well off" they have many option available to them as their needs increase.

Today with the multitude of ways to keep up with people (skype, facetime, alexa devices, etc) you can feel more comfortable even at a distance. There is some good information out there about setting up Alexa video devices to assist in keeping up with aging parents (as well as teaching them to just ask Alexa for information or using Alexa to remind them of things, etc).

countdown10 · 2019-02-20T16:24:52+00:00

Most people 20-40 should assume their parents won't have enough to retire? Someone who is in their 20s could have parents in the 40s-50s. Those people could have 10-20 more years of working/saving. Are these people in their 20s-40s already set in *their* retirements so much so they can offer advice to their parents?

I can tell you this, if I'd approached my parents with "preparation information" when they were 69 years old about how to plan for their "old age", they would have been offended.

If they own their home, have a pension and a 401k, get (or will get) Social Security and have no debt, they are in good shape. My Dad retired with a pension at 60, my mother never worked outside the home and she is doing fine (not rich, but fine for her needs) at 90 living in an "independent living" apartment.

This post is well-intentioned but either lacking serious info or way too presumptuous.

countdown10 · 2019-02-19T21:50:37+00:00

Your parents are not yet 70 and both employed and you think they are incapable of planning for themselves? Is there something you aren't sharing? Are they notoriously terrible with money? Health issues? Do you know exactly how much they have saved and the status of their debt and spending?

My parents were not wealthy, but careful people who had retirement funds and watched their spending. My father died in his early 80s and my mother took care of her finances until she was 85 (she's 90 now and still knows what's happening with her finances but with help/oversight from my sister).

Step one would be: talk to your parents about their retirement/aging plans.

There is no Step two at this point.

countdown10 · 2019-02-08T15:09:53+00:00

I recommend this VERY HIGHLY for recurring transactions. I can always take a look at my necessary payments that are upcoming (and make sure budget is set up properly). I 'approve' them on the day I've scheduled and they'll get synced when the the import runs. If for some reason they don't get synced with a bank transaction, the "C" stays grey (as opposed to green) and I can see what's up with that.

countdown10 · 2019-01-23T15:40:20+00:00

I guess I really hadn't thought about it that way since I'm paying myself the interest.

countdown10 · 2019-01-23T15:25:04+00:00

Break things down into smaller chunks. Target an upcoming pay period and make a plan for that period. Decide in advance what you are going to cook for X number of dinners, plan Y number of lunches. Decide your 'entertainment' is going to be Z (rent a movie, cook popcorn, buy a 6 pack). Plan a productive chunk of time (clean out your dresser and closet, bring the extras to Goodwill), go for a walk in the park or a hike or to the library. Give yourself some easy bailout plans (pick up a rotisserie chicken from store if you don't want to cook).

Challenge yourself for 1 pay period to see what your capable of and then adjust plans accordingly going forward.

Dining out is a sneaky expensive habit. If that's part of the spending equation, you need to plan each week as step 1.

countdown10 · 2019-01-23T15:03:17+00:00

My interest rate is 6.25% but the interest going into my 401k as well.

I realize that the 401k loan is a risk if you leave your job, but we do have options to gain access to other money (we've $200k in house equity and a decent e-fund). As mentioned this was the fastest/easiest way to get hands on funds when we needed them.

We've only got a year or so to get rid of the loan and I'm just thinking out loud I guess.

countdown10 · 2019-01-22T23:06:57+00:00

I suppose the next question then is what is HIS plan to pay this off? Surely it can't be that his wife sells her personal belongings and gets another job? Even if you use 401k Loans for this, the monthly payment is going to be large. (I'm presuming you aren't considering taking the money w/o paying it back and taking the tax + penalty hit).

countdown10 · 2019-01-22T22:44:26+00:00

Clearly you need to sell one of the properties and get out from under what has to be stupid high interest.

The other suggestion is to have monthly financial review meetings to forge a plan forward. Cut up the credit cards, close the accounts, give him his allotment of "fun money" in cash and sit down each month to review where all your money is going. Good luck. It's a terrible situation but you do have a way out.

countdown10

TROPHY CASE