To say that I have made poor choices with my money is an understatement. When I look back at all the stupid things I decided to do with money it sometimes hurts. By the time I turned age 21 I had wasted over $100,000 in three short years. SICK! If you missed that, let me write that again for emphasis. I WASTED OVER $100,000 IN LESS THAN 3 YEARS BY THE TIME I TURNED 21 YEARS OLD! Now, I won't get … [Read more...] about Broke vs. Poor
If you know me, you know I love budgets. Like, borderline obsessive about it. My spreadsheets are simple works of art, delivering powerful, functional information that helps me get a handle on our daily spending and overall financial picture for the month. I can easily say that, without our budget, we would not have a home, my wife would not be a stay-at-home mom, and we’d most likely be … [Read more...] about Budgeting Basics (Part 1): Laying Your Financial Foundation
Welcome back to the budgeting basics series! Last week, we talked about creating a priorities list to use as a filter for where your money should go. I ended the post by suggesting that you should write down your income and expenses to see where you money is going and to compare that with your priorities. I realize that this is no small task, especially for someone who has not ever put together a … [Read more...] about Budgeting Basics (Part 2): Tracking Your Income and Expenses
Welcome back to the budgeting basics series. Today we are going to get your budget set up.We will set goals by starting at the end and reverse engineering them to make them attainable. So far, you have put together a priorities list to help guide where your money should go and you have tracked your income and expenses so you can see where your money has been going. Now we can start putting the two … [Read more...] about Budgeting Basics (Part 3): Setting Up Your Budget and Reverse Engineering Your Goals
What a wonderful weekend we had. Sun was out, birds were singing and our water heater stopped working….wait. WHAT?! Yup, it finally happened. Owning a home had finally caught up to us and we were about to fork out some serious dough to get our precious hot water back. People had warned us about the "true" cost of home ownership. Many people said homes are a burden compared to renting … [Read more...] about EMERGENCY! Or Just Minor Inconvenience?
Of the many things I learned from Dave Ramsey, this is not one of them. This is something my mother-in-law suggested we do early in our marriage. She had been the single-parent of 3 children for over a decade at that point, and was (and still is!) an amazing budgeter. Since this is the only piece of financial advice she felt was important to impart to us before we started our life together, I knew … [Read more...] about Budgeting Basics (Part 4): Why You Should Get a Month Ahead