Author Topic: Best Spending Practices for People that Lack Discipline.  (Read 2097 times)

Offline noturbizniss

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #15 on: June 07, 2018, 12:52:50 PM »
You make good points about debt/interest.
However, personally this isn't currently a problem for me, as I can currently pay the bills.
Though I would like to build up savings and be able to buy some things needed for the house, and I have to hold back on those purchases due to spending not being in check.

ETA: Is there really no cards with budgets? My sapphire reserve doesn't have the option.
have you had a conversation with your wife? Seems like that's the first place to start
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Offline keepingabudget

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #16 on: June 07, 2018, 12:55:32 PM »
have you had a conversation with your wife? Seems like that's the first place to start

Yes, a few. She's on board with good suggestions but she doesn't wanna deal with cash.

Offline etech0

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Offline Dan

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #18 on: June 07, 2018, 01:04:00 PM »
Yes, a few. She's on board with good suggestions but she doesn't wanna deal with cash.
Would the GC suggestion work?
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Offline davidrotts63

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #19 on: June 07, 2018, 01:09:28 PM »
A lot of like worthy posts here in a short amount of time.
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Offline whYME

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #20 on: June 07, 2018, 01:17:34 PM »
How about using an AU card with limited credit and having the card managed by someone else for when you have (or think you have) a good reason to go over that limit?

Offline US

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #21 on: June 07, 2018, 01:19:40 PM »


ETA: Is there really no cards with budgets? My sapphire reserve doesn't have the option.
AMEX offered a limit on AU's card, might be an option.
But again won't you just take out the Primary card if the AU is maxed!?
Stick with Debit/cash.

Offline davidrotts63

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #22 on: June 07, 2018, 01:23:26 PM »
From the way everyone is putting it, it sounds like a spending addiction that you will find a way to spend regardless, to me that sounds like something that needs counseling and certainty cash only for now.
If it's a simple overspending problem, simple budgeting should so the trick.
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Offline cozmohoot

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #23 on: June 07, 2018, 01:24:20 PM »
Can you buy GC's with CCs and give those to your wife to spend?
How does it work with gc and doing a return? Will it go back to card properly?

Offline whYME

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #24 on: June 07, 2018, 01:28:53 PM »
But again won't you just take out the Primary card if the AU is maxed!?

This
and having the card managed by someone else for when you have (or think you have) a good reason to go over that limit
should fix that problem.

Offline Iz

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #25 on: June 07, 2018, 01:31:55 PM »
no online orders, no protection
Amazon cash  :)

Offline Iz

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Offline MC

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #27 on: June 07, 2018, 01:36:14 PM »
How does it work with gc and doing a return? Will it go back to card properly?
Ymmv depending on the card and depending on the merchant. Personally, I wouldn't use GCs for clothing or any big ticket items. More like groceries and household spending that won't require any returns.

Offline Iz

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #28 on: June 07, 2018, 01:40:57 PM »
Ymmv depending on the card and depending on the merchant. Personally, I wouldn't use GCs for clothing or any big ticket items. More like groceries and household spending that won't require any returns.
Someone should point out the obvious: GCs have an inherent risk of getting lost or stolen, especially if you're using them all the time on small expenditures on everyday shopping trips. And that's besides the risk of fraud.

Offline farmbochur

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Re: Best Spending Practices for People that Lack Discipline.
« Reply #29 on: June 07, 2018, 01:49:46 PM »
Have you put saving on auto pilot?
IE. X goes to 401k, Y goes to IRA, Z goes to savings account every paycheck?

Commonly referred to as the pay yourself first budget.
Risk is opportunity