Superbowl Party Tips & Links

El Carino and I were visiting San Francisco the day of the division playoffs between the New York Giants and the San Francisco 49ers. We ventured into a Marriott and were caught off guard by the abundance of NY Giants fans. This gaggle of folks spawned an interesting conversation about the finances of football fans. First, a little background, we are die hard football fans and have watched every single NY Giants game for years, on

SUPERBOWL PARTY - GO GIANTS

television. We have never been to a live game, although we did venture up to Albany, New York one summer to check out Giants training camp.

In the hotel lobby, we struck up a conversation with a girl dressed head to toe in Giants attire in town to see the game with her dad. They have season tickets and planned to go to the super bowl as well. El Carino and I decided to figure out how middle income folks can afford to attend live football games. We understand how the wealthy and corporations can afford the tickets, but what about those fans who are middle class. How do they do it?

How to Afford Live Football on a Middle Class Income

This is all conjecture, as we don’t know anyone personally who has season tickets to the NY Giants. Although my uncle did have tickets to the Bengals, but he was wealthy, so that doesn’t count. But for arguments sake, I have to believe the middle class can afford to attend live football.

Season Football Tickets (estimated)

NY Giants Season Tickets: $850.00 to $7,000.00

Parking: $200.00

Food: $300.00

Playoff game (including travel, hotel, tickets): $1,500.00

Total: $2,850.00 on Up

I am pleasantly surprised at the results of this calculation. For a single guy, making $55,000.00 per year, it is certainly possible to afford $2,850.00 for a season of football fun. (I’m not counting a superbowl visit) Granted, it’s 5%  of your gross pay. But if football is really important to you and you prioritize going to live games, it’s doable.

I’ve talked a lot about spending on what matters. In short, living in accord with your personal values. For a die hard fan, the majority of your entertainment spending can go towards football.  Skimp on other expenses, and it can work! Forgo an annual vacation and eating at expensive restaurants and a football fan could afford season tickets.

For the rest of us, here are some tips and thoughts for celebrating the Superbowl on the cheap.

Barb Recommends

How to Host a Superbowl Party on the Cheap at Personal Finance Journey

Superbowl Party Trays; Can You Save Money by Making Your Own? at Frugal Confessions

5 Ideas to Save on Superbowl Party Food, Recipes, and Supplies at Money Crashers

50 Party Recipes for the Big Game at iVillage

Superbowl and the Stock Market at Squirrelers

Score Big with a Superbowl Party at Blogging for Change

 Barbara Friedberg Personal Finance Across the Blogosphere

Be sure to visit these sites who published and promoted my work.

• Free Money Finance-Star Money Articles
• Young Adult Finance-What are Your Goals for 2012?
• My University Money-Carnival of Financial Camraderie
• Control Your Cash-Carnival of Wealth
• Carnival of Passive Investing-Afford Anything
• Totally Money Blog Carnival-Canadian Personal Finance
• Yakezie Carnival-Amateur Financier

 image credit; xboxaddict80

& Update on Moving Across the Land (Part 1)

You may think living with the folks is just for the young, not so! El Carino, Zoey, and Simon took my folks up on their kind offer to live with them “rent free” after our home sold. There were surprising benefits over the cash saved!

Quick recap for those just joining in.

El Carino got a new job at the other end of the country.

Last April we courageously put in an offer on a well priced, short sale (In a short sale, the buyer pays less for the property than the seller actually owes. It happens in a falling home price environment when the seller has difficulty paying the mortgage) condo in a beautiful development. We’d heard about the horrors of buying a short sale, but thought we had plenty of time to work out the kinks.

Fortunately, we sold our existing home, but we were left with nowhere to live. What was initially expected to be a couple of days has turned into a month with the ‘rents. (Update… 6 WEEKS WITH THE ‘RENTS)

From April until June, we were waiting to hear whether our offer on the property was accepted. After 2+ months, our offer was accepted.

Next hurdle, get our financing lined up on the condo. It didn’t seem to matter that our credit was great, or that we have successfully paid off several other mortgages. After sending reams of documents to the mortgage company over the ensuing weeks, we thought we were nearing the end of the loan approval process.

During the final week in July, we were informed that our loan was approved and the settlement papers would arrive any day. Five days later and no documents was no surprise.

While writing this article I received another call from the mortgage broker. Oops, they need one more piece of information. So our loan is approved, but we can’t close until we get this next piece of information is clarified. Mind you, it’s 7:14 PM on Friday evening. Not likely we’ll be able to do much else on this matter until Monday.

A week later, our loan is really approved. Another three days and the remote title company notary visits  the ‘rents home for us to sign the settlement documents.

Next, I’m off to the bank to wire the funds for the down payment!

In a few days weeks we will begin our journey to our new home with stops at Mount Rushmore and Brice Canyon. Our four month process of moving across the land is drawing to a close… stay tuned for the final episodes!

How We Saved the Cash; Would This Work For You?

Had the folks not offered their home, we would have been in temporary quarters for about $100.00 per night! A few days wouldn’t have been
too bad, but our temporary stay ran into an entire month 6 weeks or a total savings of more than $3,000.00 in hotel bills.

Although we are buying some food and incidentals, and taking the ‘rents out to dinner on occasion, the savings are huge. The folks love having us here, we’re old enough to clean up after ourselves, and we are pleasant company .

The evenings, filled with watching movies and playing games has been fun and a unique change from our usual routine.

For those readers strapped for cash, out of a job, or in transition; if you have willing relatives, go hang out with them for awhile. But remember, be pleasant, courteous, pick up some groceries, and take them out to eat once in awhile. You’ll save some cash and might even enhance your family relationships.

How have you handled major life transitions?

image credit; kc2014

LIVING IN CHAOS!

For a quick overview of Investing Strategies, pick up my FREE eBook; 20 Minute Guide to Investing (top right of the page). If you like what you’re reading, sign up for my RSS feed or email subscription and follow me on twitter so you get the word immediately.

“If you want to achieve things in life, you’ve just got to do them, and if you’re talented and smart, you’ll succeed.” Juliana Hatfield

I’ve taken this approach, I don’t evaluate my ideas too much, but just dive in. That eradicates the possibility that I’ll avoid new activities because I’m scared. I assume that I’m talented and smart enough to achieve my goals.

Moving day is approaching. The kitchen packers are coming in 5 days and the movers are coming in a week. Our house is almost sold, yet we still have NO CONFIRMATION of acceptance of our (short sale) condo purchase in our new land. In one week, we have no address and no secure internet connection.

All of my work and personal financial records require a secure internet connection.

In one week, unless I find a secure internet connection, while in transit, I am completely cut off from all of my financial records. That includes my job records!

This is an uncertain and stressful time, here’s how I’m coping, along with tips and inspiration for your stressful times.

ACCEPTANCE

Clearly delineate and accept what you can and cannot control.

 There are always things in life you cannot control. Do not waste time and energy trying to change people, events, and circumstances which are unchangeable.

If you are stuck in debt or a financial morass, you must face up to your situation. You cannot begin to move forward, if you do not know where you are. Accept, don’t avoid, your financial picture.

 It is unlikely I will be able to check online financial records for up to one month after we move out of our home. I can live with this likelihood, if I plan ahead.

MAKE A PLAN

A road map in life propels you towards your goals. Use goal setting and planning to make life smoother. 

When you’re stuck, stressed or overwhelmed, your plan is your guide.

Generally, I keep records of all income and spending in Quicken and update on line. I predominantly use a debit or credit card and then download and categorize my expenses. Then it’s easy to check against our budget to see how we are doing.

Without a permanent address and secure internet connection, this is not going to happen.

Here’s my plan:

• Upload all financial records a few days before we leave.
• Review and print hard copies of all investment accounts at that time.
•  To avoid overdrafts, transfer adequate funds into spending accounts.

DO LESS & SPEND LESS

Although counterintuitive, accept that this is a time when certain tasks are not going to get done. Get help from others. Cut out the uncessecary. Use your plan to focus on the important. Personally, I value relationships and make sure to prioritize my family and close relationships. Go to your boss  to discuss options during a stressful period.

During times of stress, temporarily delete the unimportant activities from your life.  

Do not add to your stress by overspending. Avoid the temptation to manage stress by shopping.

We are remarkably relaxed giventhe magnitude of our stress. El Carino and I are enjoying the extra time we have together by playing games, making movies, and working out; low cost-high fun.

What are your personal and financial tips for coping with stress?

GUEST POST; by, Rob Bennett, creator of a stock cycles calculator called “The Returns-Sequence Reality Checker.” His bio is here. 

Most People Hate Budgets

I love mine. I believe that that’s what makes me an effective saver.

Is it Possible to Like Your Budget?

Money for Fun?

buys financial freedom. Financial freedom can be put to all sorts of exciting purposes while you are in your 20s and 30s and 40s and 50s.

For a quick overview of Investing Strategies, pick up my FREE eBook; 20 Minute Guide to Investing (top right of the page). If you like this site, sign up for my RSS feed and follow me on twitter so you get the word immediately. 

 

& BARB RECOMMENDS LINK ROUND UP!

Just got done with a twitter chat led by Ashley Jacobs of Wise Bread. The theme of the chat was managing your money and keeping 

COST CUTTING

 track of it. Ashley laid down the gauntlet after I confessed that I don’t monitor my spending very frequently. She challenged me to blog about it. 

Not one to shy away from a challenge, I am going to share a bit about how I can get away without monitoring my spending daily or even weekly. And before I go any further, this is a, “Do as I say, not as I do,” article.  

I’m one of those unusual people that has maintained a budget for my entire adult life. Not only that, but, El Carino and I have always lived beneath our means. On top of that, every home we bought cost less than our approved amount. Getting me to splurge is like pulling teeth. In fact the only debt I have ever incurred is mortgage debt. That’s right, I’ve never taken out a car loan! 

Before you start getting annoyed with me, I wasn’t always like this. 

When I was a teen, they posted my picture in the dictionary next to the word “PROCRASTINATE.” It was not unusual for me to wake up at 5:00 am to do the homework due at 9:00 am (that same day!). I was a huge procrastinator and completely undisciplined. 

Flash forward a couple of decades. 

Somehow, as I entered adulthood, I became a “get it done in advance” girl. 

As I matured, I practiced smart money and life management habits. I invested early, budgeted young, lived beneath my means, and guess what….. with all that practice, I don’t need to monitor my spending too often because living beneath my means is a habit. And the reason I don’t have to track expenses daily or weekly is that I’ve been doing it for years already! 

Just to be clear, almost every expense is recorded in Quicken, I just don’t review them all that often . 

As I’ve said many times, one of the most important paths to wealth is to be mindful about your spending, and tracking expenses is a key activity. Do you agree? 

Barb Recommends:

• Financial literacy month kick off at GenX Finance. Make the commitment to become financially smart!
•  Moneyning asks, Will I Ever be Able to Retire? Wonderful “face reality” discussion.
•  Problem solving at Krantcents-Great format and ideas!
•  Prairie EcoThrifter asks How to Avoid Overbuying. This is a great reminder!
• I’m always fascinated with “make more money” posts. This Successful Guide To Craigslist from Wealth Informatics is filled with helpful ideas.
• Who doesn’t want to know, How to Rank Highly in Google Search at Smart Passive Income?
• Watch fees and have an earlier retirement at Extra Money Blog
• Is saving always worth it? Maybe not…Squirrelers
• Oblivious Investor asks, Where to Find Financial Advice; Probably Not Your Broker. This is a really important topic that I’ve blabbed about more than once!
• 10 Things We Can’t Live Without, But Grandma Did, by Len Penzo talks about how spoiled we have become. Read it and feel really greatful.
• More money lessons from Mark @ Buy Like Buffett, published at Entrepreneurs Journey!
• Who doesn’t want to make money blogging? Crystal, from Budgeting in the Fun Stuff, one of the most ambitious bloggers out there tells you how!
• This article is literally unique. If you have a desk, you must read this productivity article from bripbrap
• My Personal Finance Journey hit it out of the park with this Savings versus USA.
• Awesome contest at StoopidSuccess.
• Are you sick of budgeting? This article at Wealth Informatics the topic out in a easy-to-grasp format.

Featured Articles & Mentions Across the Blogosphere:

• Guest article @ Everyday Tips and Thoughts
• Guest article @ Centsible Life
• Carnival of Financial Planning at Consumer Boomer
• Yakezie Carnival at Retire by 40.
• Budgeting in the Fun Stuff
• Retire by Forty
• 101 Centavos
• Tight fisted Miser

To continue the Wise Bread twitter chat conversation…… here’s the question for you which I stole from Ashley: 

How often do you monitor your expenses? 

image credit; ucogency

I am honored to be hosting this Carnival Today. Please forward this Carnival Link to anyone who likes SAVING MONEY! Isn’t is fascinating how conserving resources not only helps our pocketbooks, but also the environment? Keep waste and excess to a minimum and help the world.

These articles range from saving money eating out, travel, doing your taxes, using (or not) your car, your bank, and many other topics. Learn something new and tell your friends about all the great money saving resources here. 

Silicon Valley Blogger presents Don’t Let Costly Auto Repair Estimates Get You Down posted at The Digerati Life, saying, “How you can control your spending on car maintenance.”

Donna Freedman presents Do you scrape burned toast? posted at Surviving and Thriving, saying, “The waste of food in this country is staggering. It reflects poor stewardship of resources, an increasing separation from the production of food we eat, and an inability to comprehend just how blessed we are.”

CPF presents 3 Budgeting Ideas That Changed My Life posted at Christian Personal Finance, saying, “Check out these principles that can change your life if applied.”

Craig Ford presents The Best TurboTax Discounts | Save 35% Off posted at Money Help For Christians, saying, “The results after scouring the web for TurboTax discounts.” i am eligible for about half of these discounts…BIG SAVINGS!

Tom @ Canadian Finance Blog presents Financial Fast: Week Four posted at The Canadian Finance Blog, saying, “While trying a financial fast to save money and reduce spending, we encountered some unforeseen obstacles, but learned some important lessons as well.”

Jim Yih presents The Latte Factor posted at Retire Happy Blog, saying, “The Latte Factor is those small, day-to-day purchases that, when eliminated, can actually provide you with a significant, and somewhat surprising, sum of money.”

Michael Pruser presents Eating Healthy is Becoming More Expensive Every Day posted at The Dough Roller, saying, “No wonder why America has trouble with weight … have you seen the cost of healthy food lately?”

Michael presents Is Frugality Still Here? posted at Consumerism Commentary, saying, “Even though we talk about the term often, has frugality left economics for good?”

Dave@50plusfinance presents The Best Time of Year to Buy Things and Go on Vacations posted at 50 Plus Finance, saying, “It’s always time to save some money. Knowing which products to buy at right time of year will lead to more money in your pocket.”

Kristia presents My Menu/Grocery List Clipboard posted at Family Balance Sheet, saying, “This clipboard saves me time and money.”

Money Beagle presents Saving The Day (And Some Money) At Work posted at Money Beagle. Clever thinking and a bit of elbow grease led to big savings!

RE Ausetkmt presents Remember Earth is Our Ship ? Not Our Dumpster posted at Reality Ausetkmt – Recycled Frockery, saying, “We’re talking about Earthships again. this time we’re showing you both the high end; and the low end. the designer and architect Mike Reynolds committed his skills toward green relief. his chosen project was to begin to build sustainable housing in Haiti. of course they’re earthships.”

Stephan Marks presents How to Make Money with Paid Surveys posted at Promo Code Center. A balanced approach to a tricky topic!!

Paul Foley presents Eating out on a budget: Restaurant.com posted at Life and Times Living with In-Laws, saying, “Walking through the math of Restraunt.com certificates to get the best possible deal”

FMF presents The Cost of Being Overweight posted at Free Money Finance, saying, “Save money by losing weight.”

MoneyNing presents 6 Ways to Avoid the Temptation to Eat Out posted at Money Ning, saying, “Do you always want to eat out? Here’s how to avoid always spending too much on food.”

Arjun Rudra presents How To Adapt Your Investing Approach To Changing Market Cycles With Eden Rahim, Portfolio Manager at Jov Investment Inc. posted at Investing Thesis, saying, “Highlighting the importance of adapting your investing approach to changing market cycles with Eden Rahim, Portfolio Manager at Jov Investment Inc.” A sophisticated investing article filled with fascinating data.

Saymour Hodge presents How To Be Frugal: Frugal Car Shopping Tips posted at All Things Frugal, saying, “Shopping for a car can be an anxiety-inducing experience. It’s a major expense and a purchase most people usually only make once every handful of years. The goal in shopping for a car is to walk away feeling good about your purchase. Follow these tips to achieve that goal”

Jeff Rose, CFP presents Why Wielding a Credit Card is the Best way to Approach Credit Restoration posted at Jeff Rose, saying, “For those people looking to rebuild their credit standing, the answer is, perhaps surprisingly, use of a credit card.”

N.W. Journey presents Understanding Your Financial Values posted at Networth Journey, saying, “Your financial values affect how you spend your money.”

Jeri Ford presents 27 Websites to Visit Before You Book Your Next Vacation posted at Help Me Travel Cheap, saying, “Save money on vacation with these websites.”

Miranda presents Why I Don’t Shop Much at Club Stores posted at Coupon Shoebox Tips, saying, “Club stores may be a foundation of frugal living, but for a small family like mine, they aren’t worth the membership fee.”

Rhiana presents Why Be Frugal? posted at A Frugal Life, saying, “Why Be Frugal? -Inspired by a Seth Godin blog post on What is School for? I decided to post on why you might want to live a more frugal lifestyle. The question comes up as I think of a lot of people I know who SHOULD be a bit more frugal, but aren’t”

Kyle James presents 6 Easy Ways To Save $500 Per Month posted at Kyle. Give them a try!

Niki presents Why we are a one car family posted at Debt Free by Thirty.

FIRE Getters presents Car Pool, Ride Share, Hitch Hike your way to Fun & Dollars! posted at FIRE Finance, saying, “There are days when we wished someone else was at the wheels so that we could relax for a while. Bad boss, uncooperative colleague, difficult deadlines, too many meetings – often build up a lot of stress. Imagine how risky it is if we had to drive on such a day when our nerves were already strained. To add insult to injury we could end up being late for dinner, courtesy bumper to bumper traffic. Sounds familiar?”

liverealnow presents Medical Costs and Choices posted at Live Real, Now, saying, “Medical costs can be insane. Is it worth it to automatically pay for the best doctor for every procedure?”

Craig/FFB presents The 8 Least-Evil Banks as Determined by CNNMoney posted at Free From Broke, saying, “The banks listed here can help you save on dreaded bank fees which most banks are increasing.”

Mr. Cents presents Pocket Change posted at Personal Cents.

MoneyThinking presents So, Today, I Went to the Store? posted at Money Thinking.

Dana J. presents Start Saving For Your Summer Vacation Now! | Not Made Of Money posted at Not Made Of Money, saying, “Start saving money now for that summer vacation so you can enjoy it debt free.”

Ken presents Where to Find Tax Help and Free Tax Preparation Service | Spruce Up Your Finances posted at Spruce Up Your Finances, saying, “Even with the free online tax filing, there are still a number of people who just don’t want to do the taxes themselves. Shows the list of IRS programs that offer free “person-to-person” tax preparation service.”

Tim Chen presents Continental 50,000 Mile Credit Card Sign Up Bonus (United Too!) posted at NerdWallet Blog – Credit Card Watch, saying, “Continental and United are merging their mile programs at the end of 2011, as part of their recent merger, so users of both mile programs should take note of this huge sign up bonus offer.”

Grace presents Frugality: Temporary, Tenuous, and Not Really Our Style posted at GRACEful Retirement.

Fanny Seto presents Free 2011 Hello Kitty Calendar posted at Living Richly on a Budget, saying, “This is a free, printable Hello Kitty calendar for 2011.”

Barbara Friedberg Personal Finance has 25 ideas for recreation that can save you big bucks in; 25 CHEAP IDEAS FOR FUN. Add to the list and pass it on!

That concludes this edition. Submit your blog article to the next edition of festival of frugality 2 using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

image credit: woodleywonderworks

Stop over and check out my guest post at Consumerism Commentary entitled Invest in Stocks or Mutual Funds?

MAIN TOPIC: Is it Strange That a Personal Finance Blogger Has No Budget?

After all of my relentless haranging about the importance of saving, budgeting, and managing your money, that I have no budget now may seem strange. In fact, I never would have revealed this here because it’s so counter to EVERYTHING I BELIEVE IN! So what gives? Kevin, over at Invest It Wisely threw down the gauntlet and challenged some Yakezie personal finance bloggers to think critically and play devil’s advocate with our core beliefs. Not one to shy away from a challenge, I decided to reveal why I have no budget in 2010.

This is a bit difficult to justify since I like love budgets. And I particularly like the many variations one can use, like the gazelle budget! The order and discipline a budget or spending plan allows is an invaluable aid in personal finance. In fact, maintaining a budget is a PERSONAL FINANCE CORE BELIEF of mine!

PRACTICAL APPLICATION: How Going Against My Belief in Budgets Makes Sense

Another tenet of mine is to live in accord with your values. That means spend your most precious resource, time, in the way that affords you the most pleasure and reward possible. Let me explain what I mean. In How Trading in a Car Every Two Years Makes Good Financial Sense, I relate the story of a man who values driving a new car above many other material things. He would rather drive a new car than go on vacation. So, even though economically it seems wasteful to trade in his car so frequently, the amount of enjoyment he gets from the car FAR OUTWEIGHS the money he would save by keeping his car longer. Furthermore, he is not living beyond his means in order to drive a new car. (He owns his condo free and clear!)

Personally, El Carino and I do not value driving new cars. We would rather travel and spend money on other things than transportation. That is why our cars are 7 and 12 years old and we travel a lot. 

BACK TO BUDGETS!

This year Quicken personal finance software required an upgrade. I had no choice in the matter and had to upgrade to version 2010! I have used Quicken since last century and had over a decade of financial transactions in my personal portfolio. You can imagine, being an investment professional and passionate about finance, my records are very important and well organized. Additionally, in the software, I maintained our annual budget.

Our original Quicken file with all of our historical records was too big to transfer. After many hours with customer service as well as sending my whole file to their “workshop”, my data did not transfer correctly.

I decided to forgo my prior files and start fresh with the 2010 data. After inputting all of the transactions for 2010, I WAS DONE! It took way too much time and energy. I MADE THE DECISION THAT THE ADDITIONAL TIME REQUIRED TO MAKE A BUDGET FOR THIS YEAR WAS NOT WORTH IT TO ME.

I made a conscious decision to go against my long held behavior of maintaining a budget. I valued the time spent on other activities over the additional time required to set up a 2010 budget. Let it be known that I tend toward thrifty behavior, pay off our credit cards every month, have no debt other than our mortgage, and save close to 15-20% of our income each year. After so many years of maintaining a budget, I have a fairly good idea of what we can spend each month. So far it is working out okay. Although, NEXT YEAR I AM GOING TO BEGIN OUR BUDGET ANEW. But for now, the core belief that “one must budget every year”, is not suitable.

Have you ever challenged long held beliefs? How did it work out? 

 20 Minute Guide to Investing is NOW AVAILABLE! If you have any interest in learning about investing, either now or later, you must download this FREE eBook!

Article first published in April, 2010

“What is important for kids to learn is that no matter how much money they have, earn, win, or inherit, they need to know how to spend it, how to save it, and how to give it to others in need. This is what handling money is about, and this is why we give kids an allowance.”
Barbara Coloroso

Investing sounds exciting and glamorous. At the start of my investing career, I thought it was so cool to research investments and invest in the stock and bond markets; UNTIL I HAD MY FIRST LOSS. When I saw my first stock pick drop 50% in price, I WAS NOT HAVING FUN!

Investing is not a game, but an important activity to facilitate the accumulation of wealth. In the short run, investing is also an activity which can facilitate losing wealth.

Barbara Coloroso’s advice to kids holds equally true for ADULTS. For that reason, this list tells you in plain English what to do before you even think about investing* and why.

MAIN TOPIC; Step by Step

1. Open a bank checking account-You need this account for your monthly expenses. Internet or bricks-and-mortar banks are ok.

2. Open a bank savings account-This is where you keep all of your short term savings. Build your emergency fund in the savings account. Internet or bricks-and-mortar banks are ok.

3. Write down your income and expenses for a month-I know this is a pain in the —–. You MUST do this to be in control of your cash. There is no way out! Start with a small notebook or day calendar. Pledge to do it ONLY one day first. After the first day, continue; one day at a time.

4. Make a budget or spending plan-I know this one is painful too; but do it anyway. Find one that works for you. Once you find out where your money is going, you can decide if you are getting enough pleasure from your spending.

5. Follow the spending plan-Do the best you can, you don’t need to be perfect. Adjust along the way. Maybe when you go out for drinks, you’ll decide a beer is as much fun as a martini, and more than half the cost.

6. Pay off all credit card debt-You cannot move forward financially with credit card debt.

7. Transfer a specific amount regularly into the savings account-Don’t worry about the amount in the beginning. Just develop the saving HABIT. The easiest way is to complete a transfer form (from paycheck to bank) at your work HR office. 

8. Save enough in the savings account to equal 6-8 months living expenses- Allocate this savings for unexpected emergencies and replenish after using.

9. Buy inexpensive TERM life insurance if you have someone (spouse &/or kids) depending on your income-Term insurance doesn’t cost much and if you die, your family/spouse do not end up in the poor house. 

10. Enjoy LIFE and the PROCESS OF LIVING! After all, you’re not doing all this planning to have a miserable life or ONLY for some far reaching goal.

 You must live and have fun along the way.

 *Caveat: If your employer matches your contribution to a retirement plan, then contribute enough to get the employer match. If you don’t contribute, you are throwing away free money.

ACTION STEPS:

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it for all of your personal finance goals, thoughts, activities, and plans.

1. Choose one step to take today.

2. Complete one step per week. Enlist a friend and complete the steps together; it will motivate you to continue.

 YAKEZIE PERSONAL FINANCE BLOGS

Yakezie is the premier personal finance network on-line with over 100 talented members. Our mission is to selflessly help others. Stop by our dedicated website to meet our members, learn about our scholarship opportunities, and read compelling content. 

EXCITING NEWS: I was selected to deliver a national training in San Francisco this November entitled: Personal Finance Solutions for Busy Mental Health Professionals. This 3 hour workshop includes material from my upcoming eBook. Stay tuned to get first crack at the NEW EBOOK. And it’s FREE to my readers.

“Fun is good.” Theodore Geisel

If anyone knows fun it is the author of The Cat in the Hat, Green Eggs and Ham, and countless other classics. Just thinking about his books makes me smile. Think about it, don’t you just FEEL BETTER smiling and thinking about something fun?

FUN

MAIN TOPIC: SPEND MINDFULLY

I was asked to guest post at Budgeting in the Fun Stuff (BFS). Before agreeing on a topic, I decided to write about her blog name. So away I went writing about how to pay for fun stuff in addition to the necessities.  After a couple of emails, Crystal at BFS requested an article about investing, so lucky for me (and you); I get to publish this “FUN” article at BarbaraFriedbergPersonalFinance.

In the mental health/psychology field there is movement towards mindful living. Mindfulness is simply living in the NOW and focusing on whatever you are doing presently. This premise works great with money; spend on activities and expenses that you deliberately choose.

Spend mindfully and enjoy completely.

Much of your spending was decided a long time ago; your mortgage/rent, insurance, car payment, savings (if you’re smart) etc. You may even employ the budget helper to make sure you have no big money surprises one month.  Next you pay a certain amount for food, utilities, charity etc. Yet life is more than just the necessities.

A lot is written about saving and cutting expenses (especially by me). Check out Saving without Sacrifice for some helpful tips in this area. Unfortunately, much less focus is placed on paying for fun and pleasure activities. These rejuvenating activities have very real importance in life. Without time for fun and relaxation you have less energy and focus for work activities. Furthermore, if all you do is work, then what is the point?

Life is about balance and on the flip side of work is leisure and fun!

PRACTICAL APPLICATION; BUDGET IN THE FUN STUFF

Step 1: Brainstorm-What activities do you do for fun and recreation?  After all, you don’t want to spend your hard earned cash on “fun” activities that don’t really give you A LOT of pleasure!

For example, El Carino (my hubby) and I LOVE TO TRAVEL. When we were just married with no cash (and lived in California) we satisfied our lust for travel with a CHEAP VACATION to Las Vegas. Back in the olden days, you could have a terrific week-end for 2, complete with buffets, souvenirs, a couple of blackjack hands at the $1.00 table, and souvenirs for under $250.00. We milked the coupon books, sat through timeshare presentations for free show tickets, & visited the incredible lobbies of the exclusive hotels. The memories are still with us! And we will never forget cooling ourselves with ice cubes as we drove through the desert without air-conditioning in the summer.

Here are some ideas to get you started, most are low cost, but don’t hesitate to include passions that cost a bit more:

• Lots of folks love hiking, picnics, and outdoor activities; low cost & beautiful.
• Museums frequently have FREE days.
• Discount movies are a fun evening.
• I love television and we budget in the complete cable package (it’s worth the cost for us).
• Don’t skip eating out, if you enjoy it. Try lunch on the week-end instead of dinner! (2 for 1 coupons are everywhere)
• Board games are hours of fun. Or what about a family videogame night. Make it a competition with prizes (from the dollar store) and popcorn!
• Like to entertain-host a pot luck with a theme. Guests love it because they have ownership in the evening.
• Wiffle ball, frisbee, soccer, tennis, mini putt are all great family fun and LOW COST. Why not get the neighborhood involved?
• Like to ski? Skip the downhill and try cross country.
• For you crafters out there, forget the expensive supplies, use your creativity to pick up remnants in the fabric store, supplies in the bargain bin at the craft store, or make something from stuff you already have.
• Rent a canoe and go boating one week end.
• Take the kids to laser tag or paint ball; everyone gets out their hostility!
• Visit a local small town and enjoy a new experience.
• Enjoy the thrill of the hunt while shopping at garage sales (see what you can snare for $5–$10)
• Jr. Carino loves cosmetics, so I give her a Sephora coupon code for a treat.
• Help-I can’t stop myself…. There are so many fun activities!!!

Step 2: Look over the “fun list” and put a DOLLAR AMOUNT next to each activity.

Step 3: Next to the cost of the activity, give it a FUN RANKING from 1 (not much) to 10 (most fun ever).

Step 4: Mindfully choose your FUN activities. Next month make sure your “SPENDING PLAN” includes activities with the best value for the FUN. That way, you deliberately spend your cash on the HIGHEST VALUE leisure FUN!

Give it a try and let me know how it works out for you! Mix it up, include some low cost fun along with a bit higher priced fun-just make sure that you choose activities with a high FUN RANKING.

ACTION STEP:

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

Gather the family around and list ALL THE FUN ACTIVITIES YOU CAN THINK OF. Go wild, don’t hold back. Then go through and price and label each one with a FUN RANKING.

image credit: Cuba Gallery

YAKEZIE PERSONAL FINANCE BLOGS

After every article for the next several weeks, you will be introduced to several Personal Finance web sites in the Yakezie network. Each one has their own unique voice and style. The consistency in all is their desire to help others. Consider visiting a few each day!

Saving Money Today
Single Guy Money
Single Mom, Rich Mom
Smart On Money
Smarter Spend
Squirrelers

EXCITING NEWS: I was selected to deliver a national training in San Francisco this November entitled: Personal Finance Solutions for Busy Mental Health Professionals. This 3 hour workshop includes material from my upcoming eBook. Stay tuned to get first crack at the NEW EBOOK. And it’s FREE to my readers.

“Life consists not in holding good cards but in playing those you hold well.” Josh Billings

Build skills in all areas. Set goals. Success will follow.

MAIN TOPIC: Pay attention to your Spending

Esmerelda  is a college student with lots of money trouble; ATM fees, overdrawn account fees, credit card late and interest fees, rescinded credit card, late fee on tuition account, and overspending in general. Hundreds of dollars in fees and interest ate up her meager savings and caused her LOTS OF STRESS!!

I want to save you from Esmerelda’s troubles.

At the beginning of the school year, you college students are on your own for the first time with worries about friends, school and MONEY. I’ll leave the friends and school worries to someone else. But I CAN TEACH YOU WHAT YOU NEED TO KNOW ABOUT MONEY MATTERS while you are in college.

IT IS YOUR RESPONSIBILITY TO HANDLE YOUR OWN MONEY whether you get cash from mom & dad, loans, jobs, or any combination. Follow these steps and you’ll have LESS MONEY STRESS NOW & LATER.

PRACTICAL APPLICATION: Get Control of your Cash

1. Open a checking account and savings account with NO FEES, for college students.

2. Arrange with employer to have check AUTOMATICALLY deposited in your savings account.

3. Use an on line account or bricks and mortar bank or credit union.

4. Ask these questions and only open if they say NO FEES in writing:

Do you have an account for college students with no fees at all?

Does this account offer free ATM withdrawals?

5. If you need a loan for school expenses, go straight to the Financial Aid office for HELP. Work with them as long as it takes to get the money you need. That’s what they’re there for!

6. TOTAL ALL YOUR INCOME- Estimate income from job, loans, parents, scholarship, and aid. WRITE DOWN YOUR INCOME IN A NOTEBOOK or chart like this one. Categorize by month or lump sum.

7. Complete a chart like the following and write down every expense you are responsible for; cell phone, tuition, rent, utilities, car payment etc.; include amount; date due; how paid. These are charges that are FIXED and don’t have much flexibility.

8. Add up your expenses write in the last line of the chart.

9. Next, add any expenses that you control; beer, restaurants, entertainment, etc. These are your DISCRETIONARY EXPENSES. These are the easiest places to cut spending.

10. TOTAL ALL YOUR EXPENSES.

11. If you have a credit card, use only for emergencies. If you don’t have the cash, don’t spend it!

12.  If you have a credit card, PAY THE BALANCE DUE IN FULL AT THE END OF EVERY MONTH.

13.  The money that is not due monthly, like your tuition or insurance, should be in your savings account. Make sure that the amount you will need for these infrequent payments stays in the savings account until you need it.

14.  Pay every bill early. At least a week before the bill is due, pay it.

15.  Bunch up bill paying into 2 times per month.

16.  Look at your income and expenses-Are you spending on things or experiences that are worthwhile to you? REALLY THINK ABOUT THIS ONE. If not, curb your spending.

17.  Read The Secret to Saving without Sacrifice here.

18.  Studies come first, but if you have extra time, consider partying less and get a part time job.

19.  Every month, put your discretionary money from each category in an ENVELOPE and label it. For example, $80.00 cash goes in an envelope at the beginning of the month. After you spend that $80.00 you are done with entertainment for the month!!!

20.  At the end of the month, analyze your income and spending. Complete another Income and expense tracking sheet. Make changes according to the info from the prior month.

ACTION STEPS:

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

1. Read the entire article again.
2. Choose one or two steps to begin immediately.
3. Write in your planner the steps to take.
4. After completing the first steps, repeat until all are completed.

Write in with your questions and experiences.

YAKEZIE PERSONAL FINANCE BLOGS

After every article for the next several weeks, you will be introduced to several Personal Finance web sites in the Yakezie network. Each one has their own unique voice and style. The consistency in all is their desire to help others. Consider visiting a few each day!

 The Debt Hawk
The Millionaire Nurse Blog
The Saved Quarter
The Wealth Artisan
Ultimate Money Blog
Watson Inc