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Plan Your Budget Around These 5 Expenses

September 25, 2013 by 17 Comments
Lamborghini

Although you may not need this Lamborghini Gallardo, reliable transportation is a Top Five budget expense.

The first time I planned a real budget with my wife, we didn’t know where to start. With literally dozens of expense categories popping into our head, the whole process seemed a bit overwhelming. At some point it dawned on us that we needed some clarity and we obtained that by going back and evaluating our basic needs.

There are five fundamental expenditures that all budgets should revolve around. Without them, any person would have a difficult time surviving. These categories will also be some of the most expensive items each month. Those two reasons alone justify us starting with them when we plan our budget each month.

Food.

Our bodies need fuel. Without it, we become physically weak and mentally drained. We would be unable to carry out basic functions without the daily allotment of calories our body systems require.

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Filed Under: Budgeting, Spending Tagged With: , ,

Geocaching: Our New, Cheap Kid Activity

June 5, 2013 by 21 Comments

Logo_Geocaching_color_300Are you looking for a fun (and cheap) summertime activity to keep the kids busy until they go back to school? Then geocaching may be for you. Never heard of the term? Neither had I until about a month ago when my wife mentioned it. I think my initial comment was, “What the heck is that?”

Do you remember the days of playing pirate as a kid, searching for buried treasure? In essence, that is what geocaching is. Here’s how it’s described at Geocaching.com:

“Geocaching is a real-world, outdoor treasure hunting game using GPS-enabled devices. Participants navigate to a specific set of GPS coordinates and then attempt to find the geocache (container) hidden at that location.”

I have to admit I was skeptical when I read about this. I mean who are these hobbyists who traipse all over the wooden glen and urban street corners looking for hidden containers with small trinkets inside? Then I saw a map where all the caches are hidden - in the entire world! Then I realized this was a bigger deal than I thought. Yes, there are some in Antarctica if you are in the neighborhood.

Here’s how you play.

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Filed Under: Kids and Money, Random Fun, Spending Tagged With: ,

Cashiers Gone Wild

May 20, 2013 by 21 Comments

cash registerEver had one of those moments when you felt something was so obviously correct that it made you a little nervous that you were missing something? In those situations, I usually talk myself out of saying anything because I’m afraid of looking ridiculous if I’m wrong. Hey, what can I say? My personality naturally shies me away from conflict. But not this past weekend when I forced myself to speak up at the checkout register at a local eatery.

So it’s Friday night and we are eating out at a nationally known restaurant/bakery on our way to my daughter’s kindergarten graduation program. We are doing OK on time but any delay in the ordering or food delivery process could force us to eat quickly and rush off to graduation. I’m just hoping everything runs smoothly.

My wife and I have our four kids plus another child who we are watching for some close friends who are out of town for a few days. So there are seven of us in all. And seven people going out to eat creates one of the more interesting moments in parentdom. That’s right the stand-at-the-register-and-order moment.

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When Can We Step Off the Gas?

April 25, 2013 by 18 Comments

Sit at home or enjoy lifeI love competition. Better yet, I love to win. Doesn’t matter if it’s a marathon, a card game, or playing Horse with my 10-year old son in the driveway. (He hasn’t beaten me…yet.) I want to come out on top.

This competitive spirit also works its way out when I prepare our monthly budget. I love seeing if I can reduce the prior month’s spending amount for each budget category, thus being able to save more. I know, it’s a little sick. I’ve made budgeting into my own personal can-you-top-this contest.

Some may like that I’m this intense. After all, isn’t this level of passion necessary to win with money?

Well, yes…but not when the kids go naked because you haven’t purchased clothes in six months. That’s a little too intense. (Disclaimer to grandparents, family and friends and DFCS: Just using hyperbole here. No kids are actually going without adequate clothing in our house.)

The issue though is valid to consider.

When can we loosen the reigns on the budget? Do we have to drive hard all the time? When can we take our foot off the gas just a little bit? We free spirit spenders want to know.

My answer may be frustrating and seem like a cop-out. [Read more...]

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Drawing a Line in the Sand - A $37 Decision

March 12, 2013 by 28 Comments

Silhouette of cheese burger and summer garden vegetablesA couple of weeks ago, I had a not so great day at work. Nothing really dramatic happened, it was just one of those long days where everything seemed to be a little off and annoying. After work, things didn’t get much better.

I had to stop at the bank and then was supposed to meet a contractor at one of our rental properties to discuss some repair work. Something came up after school (which often does for teachers) that did not allow me to leave as soon as I had hoped. I’m a stickler for being late to appointments, so this didn’t set well with me.

At the bank we had to wait in line at the drive thru for 10 minutes to make our deposit. That’s unusual but they were shorthanded for some reason. Needless to say, I’m feeling the pressure to arrive at my appointment on time.

At this point, I encountered one of the strange oddities of life.

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How to Eliminate Overspending and “Gotcha” Moments

February 20, 2013 by 7 Comments
Baby Surprised

Awww…did you forget about a bill this month?

The number one reason you should be saving money right now is for emergencies. Guaranteed they are going to happen. The second reason we need to save money consistently is for making purchases or for paying bills. As I wrote about here, this concept goes completely against the grain of what is normal in American society. Even though your friends won’t be doing this, there are two completely legitimate reasons why you should develop a monthly saving pattern.

First of all, saving for purchases can help with overspending because it forces us to wait. We tend to get into trouble with our spending habits because we believe in gratifying ourselves instantly. We see something…we like it…we buy it, on the spot. We don’t think how that purchase sets us back financially because it makes us feel so good.

Following a monthly savings plan has another benefit in that it helps eliminate the monthly budget busters that I call “gotcha moments.” What’s a “gotcha moment?”

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