The MONEY Thread

[2_Vino]

To add:
The financial equivalent of
מי שטרח בערב שבת יאכל בשבת

(maybe)

[AsherO]

Side note, IIRC, the Snowball plan is to pay off the smaller amounts first as opposed to higher interest first.

Even if there's psychological benefit to that strategy, it isn't financially sound, and thus inferior to paying off the highest interest first (from a strictly mathematical perspective).

[mercaz1]

Even if there's psychological benefit to that strategy, it isn't financially sound, and thus inferior to paying off the highest interest first (from a strictly mathematical perspective).

yeah but not everyone functions the same way and there are people who are in debt who if they dont see that their debt is going away get depressed so they do it this way and they see some of thier debt actually being erased

[shmuelb]

IOW, you need to look at the whole picture and if the plan is more financially sound for someone, they should try it. The point is that this way they will end up paying off their debt faster because of the emotional element.

[txtmax4]

Instant gratification will only work for short term IMHO.

[smee123]

I'm trying to figure out where money goes and therefor creating budget categories.
Please add anything you feel i missed.
Thanks


-Housing- Rent/mortgage & taxes
               Utilities-gas/electric/water/internet
               Insurance
               Maintenance/upkeep(ex. lawn) & repair
               Phone

-Health-    Insurance (set amount)
                Co-pays, RX & deductibles (vary's)

-Car-         Ownership
                Insurance
                Gas
                Repair & maintenance
                AAA
                Tolls & parking
               
-Tuition      Cost (set)
                 Add-ons (ex. supplies)
                 Tutor
                 Camp
                 Baby sitter
                 
-Taxes
-Masser
-Food
-Life insurance
-Phone's
-CC Annual fees
-Toiletries
-Clothing
-Gifts
-Extras (Ex...eating out, chol homoed, splurging on stuff)
-Religious (ex. lulav)
-The inevitable "other"

So.... What am i missing?


                 
               
               
               
               

[etech0]

Check your receipts/cc bills, your checkbook register...
Then spend the next few weeks paying attention to what you pay for with cash.

[smee123]

Check your receipts/cc bills, your checkbook register...
Then spend the next few weeks paying attention to what you pay for with cash.

Already did, I'm asking if i missed anything.

[churnbabychurn]

Already did, I'm asking if i missed anything.

You are missing mint.com.
If used properly it will show you exactly where everything goes.

[etech0]

You are missing mint.com.
If used properly it will show you exactly where everything goes.

And some of us spend an exceedingly disproportionate amount of money at pharmacies

[churnbabychurn]

And some of us spend an exceedingly disproportionate amount of money at pharmacies

there is a way to manually recategorize MS

[smee123]

You are missing mint.com.
If used properly it will show you exactly where everything goes.

Thanks, but that's not my point.
I want to simply know if there is anywhere else that people spend money on that i'm missing in my list.

[etech0]

there is a way to manually recategorize MS

too much pain in the neck for me

[churnbabychurn]

too much pain in the neck for me

IIRC once you do it once and it remembers..  amznpaymnts, cvs, etc..

[skyguy918]

IIRC once you do it once and it remembers..  amznpaymnts, cvs, etc..

Yup, but it's pretty buggy. I get things being incorrectly re-categorized all the time.

[SPLP]

I'm trying to figure out where money goes and therefor creating budget categories.
Please add anything you feel i missed.
Thanks


-Housing- Rent/mortgage & taxes
               Utilities-gas/electric/water/internet
               Insurance
               Maintenance/upkeep(ex. lawn) & repair
               Phone

-Health-    Insurance (set amount)
                Co-pays, RX & deductibles (vary's)

-Car-         Ownership
                Insurance
                Gas
                Repair & maintenance
                AAA
                Tolls & parking
               
-Tuition      Cost (set)
                 Add-ons (ex. supplies)
                 Tutor
                 Camp
                 Baby sitter
                 
-Taxes
-Masser
-Food
-Life insurance
-Phone's
-CC Annual fees
-Toiletries
-Clothing
-Gifts
-Extras (Ex...eating out, chol homoed, splurging on stuff)
-Religious (ex. lulav)
-The inevitable "other"

So.... What am i missing?


            ENTERTAINMENT --MOVIES BOOKS THEATER ETC -- VACATION SPENDING --SAVINGS     
               
               
               
             

[Excalibur]

Is it ever worth it to pay for with credit card if using cash would give you tax off

[Joe4007]

Is it ever worth it to pay for with credit card if using cash would give you tax off

Usually not. Where I live that's more than 8%. There are MUCH cheaper ways to accrue points.

[12HRS]

IIRC once you do it once and it remembers..  amznpaymnts, cvs, etc..

It does remember but then when you spend $10 on a legit pharmacy expense it goes to the MS category...

[Ergel]

Is it ever worth it to pay for with credit card if using cash would give you tax off

AYLOR