Budget Snob

Reasons to Start a Budget

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I know for myself, starting a budget really wasn’t that hard of a decision. I had lived with one in college. And once I graduated and was headed to my first job, I knew having a budget would be absolutely essential. No, it’s the sticking to the budget that I have a hard time with. But that’s another post for another day.

But what about those of us (you) who can’t fathom the thought of ever putting together a budget? What’s the final straw/accident/catastrophe that finally pushes someone to do the inevitable deed…put numbers to paper?

MoneyNing address that very question in their latest post.… Read the rest

Financial Freedom through Budgeting

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Today’s post is from Sharon Smith. Sharon works with the fine people at Oak View Law Group in California.

Financial crisis is not only created by a lack of money. Your attitude is at least somewhat responsible. Having the right attitude about your expenses can guide you towards financial freedom.

It’s human nature to desire more than what we deserve. This habit, however, can trap us in a web of debt. Extravagance without saving will never liberate you from financial consequences—most bad.

If you are a spendthrift and eat and sleep on credit, you’re only asking for trouble. In order to restore your finances, budgeting becomes a crucial first step.… Read the rest

Beat the Heat on a Budget

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Summers in the south are…hot. I can take a dry heat but a hot, humid, sweltering heat is another matter altogether. Nowhere is that hottness more evident than in my utility bill (my electric bill to be precise). Crazy as it may seem, I keep my house at a balmy 78 degrees during the day and 76 degrees at night. We have lots of tile so it really doesn’t seem as hot. But it’s hot nonetheless.

So, what do you do if you can’t afford to run your A/C all day? Or, like me, you’re tired of high electric bills? As Jennifer Derrick from PF Advice explains, there are several actions you can take today to beat the heat and save money to boot.… Read the rest

Change Your Thinking – Lower Your Expenses

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So you think you’ve lowered your expenses as much as you can? What if you could lower your expenses just by changing how you think? RJ Weiss from GenYWealth, in a guest post on FreeMoneyFinance, gives two “mind hacks” you can use to lower your expenses.

The first is to apply the “reverse 4% withdrawal rate” to your estimate retirement assets:

“For every $10,000 less you spend each year, is $250,000 less you need to accumulate to retire. If you can manage to get your expenses down to $40,000 a year, you only need $1,000,000 in a retirement portfolio.

… Read the rest