Do you even budget bruh?

[razr390]

Do any of you guys have a Google Sheet/Excel budget template that you use? If so, feel free to PM me with the link/e-mail address.

[razr390]

So not much. Easy to rub out, yes?

Ideas:
1. First step is get rid of CC debt and tell yourself you're never fucking going back. Not ever.
2. Use American Express (The charge card kind, not the credit card kind). It demands payment in full at the end of every month. You won't pull trigger on those sweet ramz bro if you know you really can't pay for them.
3. Go the other way and build a 3K account for fun shit, to pay with said American Express. You will be more stingy when you're using your money, not OPM (even though that's a myth because the CC companies are taking you for MAFIA interest rates, that is really your money.)
4. You're single.

All it takes is a little time and you'll be able to be totally on track
5. Instead of buying shit, just figure out how long it will take to swing the -3K to +3K on such and such a budget, then do it. Don't go out to restaurants and bars, etc., until mission accomplished. Then set another goal.

We are debating going Amex platinum. 500 a year doe. Currently just preferred cash card but we like it.

Amex Platinum can pay for itself if you take advantage of all its bennies but it's primarily targeted to traveling individuals ($200 in airline fees, $200 in uber crebits, etc.)

[razr390]

It's a slow start since we are still settling in but once we get a good gauge of how much we spend on utilities (we've only spent on 1.5 months so far, so not an accurate level yet), and settle down with the meal preps and whatnot, I have no doubt I can start wiping out some CC debt I have and moving forward with it.

[ChrisoftheNorth]

I don't understand paying for CC's.

I pay I think $85 for my United Chase MC per year. In addition to the miles on purchases, I get 2 free United Club passes a year, don't pay for first checked bag, and always get group 2 boarding. I travel enough that it is well worth it.

But how much are miles worth? That's what I can't understand...and nobody explains it. "miles" are a "perk".

Every time I run the math, I'm better off getting money back on my free cards and paying for the other "perks". I guess if I traveled more it would be worth it.

[KYGTIGuy]

We are debating going Amex platinum. 500 a year doe. Currently just preferred cash card but we like it.

Amex Platinum can pay for itself if you take advantage of all its bennies but it's primarily targeted to traveling individuals ($200 in airline fees, $200 in uber crebits, etc.)

That's our initial assessment. With my new job and small kids we don't travel like we used to. We need to re evals the card we have. It's our only one.

[Desertbreh]

So not much. Easy to rub out, yes?

Ideas:
1. First step is get rid of CC debt and tell yourself you're never fucking going back. Not ever.
2. Use American Express (The charge card kind, not the credit card kind). It demands payment in full at the end of every month. You won't pull trigger on those sweet ramz bro if you know you really can't pay for them.
3. Go the other way and build a 3K account for fun shit, to pay with said American Express. You will be more stingy when you're using your money, not OPM (even though that's a myth because the CC companies are taking you for MAFIA interest rates, that is really your money.)
4. You're single.

All it takes is a little time and you'll be able to be totally on track
5. Instead of buying shit, just figure out how long it will take to swing the -3K to +3K on such and such a budget, then do it. Don't go out to restaurants and bars, etc., until mission accomplished. Then set another goal.

We are debating going Amex platinum. 500 a year doe. Currently just preferred cash card but we like it.

We do Platinum. The fee pays for itself if you fly. $200 credit for bag fees and other airline fuckery. Admission to lounges in most airports, which can save a lot. They will pay for global entryTSA fees. Plus AMEX has the best online site and customer service of any credit card, ever. Articulate people there to help 24/7. I have AMEXed for 28 years and have never had a single issue. Excellent fraud protection. If you don’t fly its hard to justify doe.

[stripethree]

I just use Mint.

If their auto categorization of transactions worked better or learned from corrections users made it'd be a budgeter's dream. I stopped messing with this aspect when I was having to make the same category corrections 5 and 6 times.

[coogles]

Dudes have mentioned it already, but step one IMO is to actually create a budget. Yours doesn't have to mirror mine, but I've copied what my wife and I use from a dude called Pete the Planner (yes, I know). He's like Dave Ramsey but somewhat entertaining to listen to. Anyway, here's the template he suggests.

Start with net pay after taxes, retirement contributions, pre-tax healthcare, etc.

Housing - 25%
Transportation - 15% (This includes any monthly payment(s), plus gas, insurance, registration, and maintenance)
Groceries & Dining - 12% (I include things like toiletries here)
Savings - 10%
Utilities, including cell bills - 10%
Charity - 5%
Clothing - 5%
Entertainment - 5%
Medical - 5%
Holidays & Gifts - 5%
Misc - 3%

Next thing to do is figure out where your money is actually going. Pull your bank & CC statements, find some colored highlighters for the different categories, and add up what you're spending on each. If you find you're out of whack with your spending to one category or another, there are no shortcuts. Either adjust the budget so you're still accomplishing your goals while supporting your lifestyle choices, or change your habits. No one is going to change them for you.

[KYGTIGuy]

We are debating going Amex platinum. 500 a year doe. Currently just preferred cash card but we like it.

We do Platinum. The fee pays for itself if you fly. $200 credit for bag fees and other airline fuckery. Admission to lounges in most airports, which can save a lot. They will pay for global entryTSA fees. Plus AMEX has the best online site and customer service of any credit card, ever. Articulate people there to help 24/7. I have AMEXed for 28 years and have never had a single issue. Excellent fraud protection. If you don’t fly its hard to justify doe.

Once the kids get out of diapers we will start traveling again. Wife's extended family still all lives in Germany. Wish I'd researched it prior to moving to new job.

Thank for the

[goIftdibrad]

I just use Mint.

If their auto categorization of transactions worked better or learned from corrections users made it'd be a budgeter's dream. I stopped messing with this aspect when I was having to make the same category corrections 5 and 6 times.

mint a decent tool to put everything in one place, but the auto categorization is shit

[troyguitar]

Fuck travel. Fuck restaurants. Fuck new cars. That's for rich people.

New cars, I'm with you there.

But, travel adds a flavor to life that's necessary, and the occasional restaurant is no harm.

OP sounds like he's eating out for 5+ meals a week

That's a black hole of cash, especially when you have DFD tastes for artisanal crafted foods. Make going out an event, not the default plan. Same with travel.

At a minimum, set a budget for that and check your status against it before you make plans to go out. If the budget is $1000 a month for bars/restaurants because you're Max, then stick to that. Already blown your grand in the first 2 weeks? Stay home.

[Melon]

New cars, I'm with you there.

But, travel adds a flavor to life that's necessary, and the occasional restaurant is no harm.

OP sounds like he's eating out for 5+ meals a week

That's a black hole of cash, especially when you have DFD tastes for artisanal crafted foods. Make going out an event, not the default plan. Same with travel.

At a minimum, set a budget for that and check your status against it before you make plans to go out. If the budget is $1000 a month for bars/restaurants because you're Max, then stick to that. Already blown your grand in the first 2 weeks? Stay home.

Point is don't cut it out entirely.

[ChrisoftheNorth]

OP sounds like he's eating out for 5+ meals a week

That's a black hole of cash, especially when you have DFD tastes for artisanal crafted foods. Make going out an event, not the default plan. Same with travel.

At a minimum, set a budget for that and check your status against it before you make plans to go out. If the budget is $1000 a month for bars/restaurants because you're Max, then stick to that. Already blown your grand in the first 2 weeks? Stay home.

Point is don't cut it out entirely.

But for us, it worked to set a few nights to go out. There's a few places around us that run specials during the week, so we go out only during the week, and only once. MAYBE twice if we're just slammed with work or whatever and don't feel like cooking.

Between that and never buying lunch during the week, the savings are real.

[wap]

I don't budget. But I'm a frugal person by nature. All CC's on auto pay for full balance each month. 15% into 401k. A cash slush fund that can cover 8 mos of living expenses in case of and I just the rest.

House, utilities, car, and insurance expenses are pretty constant. I never buy lunch at work, always bring. We limit our eating/going out to twice a week because reduction. Big purchases (over $500) are planned in advance and allocated for in future checks. Small purchases are whatever as we need.

Probably doing it wrong. Whatever. I enjoy life.

Other than the frequency in eating out (we do it maybe twice/month) this is surprisingly similar to our method. We do not budget or bother with spreadsheets. We are both naturally pretty in our spending habits and just don't buy that much. We give ourselves a weekly cash allowance and are free to save or that on whatever we want, no questions asked from the other. But we ALWAYS pay off all CC's every month-ZERO exceptions ever. I take my lunches to work. We cook at home. We have a 12 month cash fund, I max out my 401k, and we have several investments. After monthly expenses are paid and various savings/investment mouths are fed, we the balance on house/pinshit and travel.

FWIW, if you're doing it wrong, then we are too, and you and us both live fairly lives so I don't think we're doing it wrong.

[wap]

also read the same article about how the ads and shit in social media are forcing millennials to drop coin they aint got for shit they aint need.

This is actually an age old problem and just a new face with social media: Keeping up with da Jones'

That's
No one is forcing them to buy shit with money they don't have. They just don't have self discipline. They too need to adult the fuck up. Bottom line.

[wap]

I don't understand paying for CC's. I use two credit cards...a Fidelity Cash management CC that pays unlimited 2% into my account each month, and the Costco CC that pays 4% on gas, 3% travel/restaurants, 2% at costco and 1% on everything else.

I end up making good money in rewards at the end of the year. I've yet to find a card that's worth paying for.

I just got a Capital One card because I'm tired of paying for my Chase. I will activate my Cap One and cancel my Chase this weekend and not look back. Also, no foreign transaction fees with the new card will save even more $$. which is for us.

[ChrisoftheNorth]

But for us, it worked to set a few nights to go out. There's a few places around us that run specials during the week, so we go out only during the week, and only once. MAYBE twice if we're just slammed with work or whatever and don't feel like cooking.

Between that and never buying lunch during the week, the savings are real.

Work lunch is a yuuuuuge expense that can really result in some massive spending if not kept in check.

It's crazy.

[wap]

It's a slow start since we are still settling in but once we get a good gauge of how much we spend on utilities (we've only spent on 1.5 months so far, so not an accurate level yet), and settle down with the meal preps and whatnot, I have no doubt I can start wiping out some CC debt I have and moving forward with it.

less on worthless "stuff" that you don't need and pay those cards down faster and never carry balances again. 29% interest will kill you financially.

[ChrisoftheNorth]

I don't understand paying for CC's. I use two credit cards...a Fidelity Cash management CC that pays unlimited 2% into my account each month, and the Costco CC that pays 4% on gas, 3% travel/restaurants, 2% at costco and 1% on everything else.

I end up making good money in rewards at the end of the year. I've yet to find a card that's worth paying for.

I just got a Capital One card because I'm tired of paying for my Chase. I will activate my Cap One and cancel my Chase this weekend and not look back. Also, no foreign transaction fees with the new card will save even more $$. which is for us.

We buy a SHITLOAD of stuff on Amazon. I got the Amazon Prime card from Chase (it's even METAL ) and has no foreign transaction fees. 5% back on all Amazon Prime purchases 2% back on restaurants, 1% on everything else. We used it when we were in Germany, worked 5/7. No annual fee.

[Desertbreh]

I just got a Capital One card because I'm tired of paying for my Chase. I will activate my Cap One and cancel my Chase this weekend and not look back. Also, no foreign transaction fees with the new card will save even more $$. which is for us.

We buy a SHITLOAD of stuff on Amazon. I got the Amazon Prime card from Chase (it's even METAL ) and has no foreign transaction fees. 5% back on all Amazon Prime purchases 2% back on restaurants, 1% on everything else. We used it when we were in Germany, worked 5/7. No annual fee.

[Desertbreh]

We buy a SHITLOAD of stuff on Amazon. I got the Amazon Prime card from Chase (it's even METAL ) and has no foreign transaction fees. 5% back on all Amazon Prime purchases 2% back on restaurants, 1% on everything else. We used it when we were in Germany, worked 5/7. No annual fee.

Fking phone posts

[ChrisoftheNorth]

It's a slow start since we are still settling in but once we get a good gauge of how much we spend on utilities (we've only spent on 1.5 months so far, so not an accurate level yet), and settle down with the meal preps and whatnot, I have no doubt I can start wiping out some CC debt I have and moving forward with it.

less on worthless "stuff" that you don't need and pay those cards down faster and never carry balances again. 29% interest will kill you financially.

The #1 goal should be killing the CC debt. Eat ramen for a month. Don't go out to do anything. Don't buy anything. You have to pay penance to learn to never do it again. CC debt can ruin people, and you pay a ton for absolutely no value.

[ChrisoftheNorth]

Fking phone posts

If you can be responsible with credit, having multiple cards isn't a bad thing. I probably have nearly $100k in available credit between all my cards, but I use each for a purpose and that's it...all setup on autopay to pay the balance in full. I max out the benefits from each...between my 3 main cards, I got over $1,000 back in benefits for free last year by doing nothing more than spending like I normally do.

[stripethree]

OP sounds like he's eating out for 5+ meals a week

If you factor in something like going out for ice cream or dessert, it's more like 10+.

Even with meal prep and planning, it still happens a lot. Have to reign it in.

[stripethree]

If you log in via computer, you can set rules for vendors to rename and categorize transactions.

Didn't know that, awesome. Thanks.