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Started By
Message
It’s good to sit down and look at income coming in verse bills going out periodically
Posted on 5/13/23 at 5:37 pm
Posted on 5/13/23 at 5:37 pm
Wife and I just did this. It helps realign financial goals. We both are 35 and should be debt free including our mortgage by 42. At age 40 we should be millionaire since out net work gospels above a million. Growing up poor this seemed so unrealistic but hard work pays off. Wish majority of society would do the same. Moral of the story do bi yearly checks on income vs bills and make sure your goals are being meet.
7
Posted on 5/13/23 at 6:06 pm to tigerbacon
quote:
We both are 35 and should be debt free including our mortgage by 42.
Posted on 5/13/23 at 6:55 pm to evil cockroach
To me this is kinda unreal. My parents made a combine 35k most of my childhood.
Posted on 5/13/23 at 6:58 pm to tigerbacon
This isn't a one off event in our house, it's standard month to month practice.
We log every purchase in some category and if things get off track we discuss and correct immediately.
It's taken me 4 years to get here, but we're in a good spot.
We log every purchase in some category and if things get off track we discuss and correct immediately.
It's taken me 4 years to get here, but we're in a good spot.
Posted on 5/13/23 at 7:16 pm to thegreatboudini
Mint app is great for this
Posted on 5/13/23 at 7:37 pm to tigerbacon
My wife hates talking money but slowly over time I force conversations about it because of its importance to our future. I manage all our finances but she makes a great salary so I try to explain why we do what we do or change what we do from time to time.
Posted on 5/13/23 at 8:04 pm to tigerbacon
I manage 100% of the finances in my house. My plan since November was to monitor our spending in depth and get a real view of what % of take home we are saving every month.
We are about 6 months in and I’m liking what I am seeing, but not thrilled. We can both cut down on things, but we still have been doing pretty damn good. We are way more conscious of eating out vs cooking.
My next plan is a breakdown of what our expenses are going towards.
Gas
Groceries
Eating out
Non essentials
Etc
We are about 6 months in and I’m liking what I am seeing, but not thrilled. We can both cut down on things, but we still have been doing pretty damn good. We are way more conscious of eating out vs cooking.
My next plan is a breakdown of what our expenses are going towards.
Gas
Groceries
Eating out
Non essentials
Etc
Posted on 5/13/23 at 8:46 pm to VermilionTiger
Agreed. It amazing how much we could save being a little more conscious
Posted on 5/13/23 at 11:56 pm to tigerbacon
quote:
Agreed. It amazing how much we could save being a little more conscious
I recently signed up for the social security income site and it shows how much you’ve made since you started working. It was eye opening on the amount of money I’ve made vs what my net worth is
Posted on 5/14/23 at 1:34 am to Rize
quote:
I recently signed up for the social security income site and it shows how much you’ve made since you started working. It was eye opening on the amount of money I’ve made
I did this too but it was eye opening how little I made for so long and how it blasted off in recent years. Hard work and luck pay off I guess.
Posted on 5/14/23 at 7:14 am to tigerbacon
That's impressive, how many kids do you have?
Posted on 5/14/23 at 7:17 am to tigerbacon
quote:
We both are 35 and should be debt free including our mortgage by 42
Congrats!
Posted on 5/15/23 at 4:08 pm to tigerbacon
quote:
It’s good to sit down and look at income coming in verse bills going out periodically
I'm currently going through this same process as of last week...total take home income vs total bills. And now i'm trying to figure out where the hell we are spending all this extra money this spreadsheet says we should have each month that we don't
Posted on 5/16/23 at 8:05 am to Mark Makers
quote:
And now i'm trying to figure out where the hell we are spending all this extra money this spreadsheet says we should have each month that we don't
I'm in the same boat... but come to think of it, its probably going in to the boat or boats, literally
Posted on 5/16/23 at 9:14 am to Upperdecker
quote:
Mint app is great for this
I've tried it but we use USAA and Schwab, which seem to constantly have connection/syncing issues. If syncing weren't an issue it looks like it would be fantastic.
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