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04-07-2010, 12:16 PM
| #1 (permalink) |
| Family Member Join Date: Oct 2009
Posts: 3,853
  |  Budget Revamp
Reading a book called "Your Money: The Missing Manuel" by J.D. Roth. Love this guy's writing on his website, Get Rich Slowly. I believe a book is the greatest bargain on the planet. If you walk away from a book with at least one new idea, the book is worth the money. Forty pages in, I had an "Aha!" moment. Let me share... I'm a budgeting man. I actually enjoy it  So in the book, I get to this section about budgeting. I thought, "Ah, nothing here for me. I know all this". So I'm skimming along and get to a title, "Annual Budgeting". I almost starting laughing at the table. Who the hell would budget once a year. Then the book opened my eyes.Combine an annual budget with a monthly budget. The annual budget gives you a great overview (birthdays, Christmas, dentist, dog grooming, ect.), all the stuff that I normally miss and scramble to make up. I just finished revamping my budget! $250 a month covers all the presents I buy per year, car repairs, dentist checkups, the whole nine yards. I cannot imagine the stress I've saved myself. Even better, I put it on automatic transfer so I don't even think about it. Voila! |
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04-08-2010, 04:56 AM
| #2 (permalink) |
| Senior Member Join Date: Sep 2008 Location: Ontario
Posts: 245
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Cool! As someone who has historically been very irresponsible with my budget, I really like the idea of a yearly plan. I always forget about things like gift purchases and car maintenance so it is a great idea to simply build an assumed amount into your plan for the year! It would be cool to apply this to other things like, how many workouts do I need to hit per month to reach my fitness/health goals or how many sales calls to I need to make on average per month to reach my new financial goals. |
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04-08-2010, 05:16 AM
| #3 (permalink) |
| Family Member Join Date: Sep 2008
Posts: 2,950
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Yes, it is good to get the "big picture" and then work out the details after the big picture and "final goal" or "vision" is laid out. That way, you know the end point of your journey, you just have to figure out each individual step along the way. |
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04-08-2010, 05:36 AM
| #4 (permalink) | |
| Family Member Join Date: Mar 2009 Location: Southern California
Posts: 1,052
| Quote:
Step 1: The first dollar. | |
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