Comments on: You Want a Budget. You Really, Really Do! http://gailvazoxlade.com/blog/archives/244 Tue, 22 May 2012 16:11:49 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Louise http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2934 Louise Sun, 02 Nov 2008 17:11:01 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2934 I just wanted to say that I found using Gail's worksheets easy and very helpful. You just have to follow the instructions carefully, then it all makes sense. The time investment is worth it and you learn skill of budget building as well. I know that finances are stressful to begin with -- if it's confusing, just read over the instructions again - and don't get discouraged. :) BTW, I don't agree that there is a 'usability' or 'poor design' issue in Gail's website. I just wanted to say that I found using Gail’s worksheets easy and very helpful. You just have to follow the instructions carefully, then it all makes sense. The time investment is worth it and you learn skill of budget building as well. I know that finances are stressful to begin with — if it’s confusing, just read over the instructions again – and don’t get discouraged. :)
BTW, I don’t agree that there is a ‘usability’ or ‘poor design’ issue in Gail’s website.

]]> By: Rhiannon http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2933 Rhiannon Fri, 31 Oct 2008 15:42:46 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2933 I'm sorry about posting twice...it was a mistake. Gail, I wonder if you could remove the extraneous post, and this post as well, for me? Thank you. I’m sorry about posting twice…it was a mistake. Gail, I wonder if you could remove the extraneous post, and this post as well, for me? Thank you.

]]> By: Rhiannon http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2932 Rhiannon Fri, 31 Oct 2008 15:36:39 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2932 My main points are: 1) If you have the discipline to do so properly, using your credit cards for your purchases can actually get your debt paid down faster 2) Credit cards are NOT something you only pay once at the end of the month! You can pay them before your purchases are put on them, and not worry about paying a large bill at the end of the month. And now for the explanation: If you're the kind of person who knows that keeping track of your money is a weakness for you, then by all means deal with cash only. But if you're the kind of person who knows that you can keep track of your spending pretty well, I recommend using your credit cards to accumulate rewards. I personally use my credit card for every purchase, big or small, but I never have a balance or, in fact, anything to pay off at the end of the month. The reason for this is that I have a no-fee bank account that lets me pay bills as often as I want. So, as soon as I get home from shopping, I take out my receipts and pay them all, one at a time. (Example: I just went shopping at three stores, and have three receipts. One is for $6.76, one is for $22.07, and one is for $15.61. I go online and pay my credit card bill, BEFORE the charge has even shown up, three times: once for $6.76, once for $22.07, and once for $15.61. That way, when I check my credit card balance online a day later, I can see three charges and three payments, all of which cancel each other out.) I do put a set amount onto my credit card at the beginning of each month. This is the amount I have budgeted for my bills (cable, telephone, etc.), and includes an extra $5 tacked on per bill in case that bill is slightly more expensive. Then I check online frequently to see if the cable bill really was what I thought it should be. If it isn't, I'll call the company and get it straightened out immediately. My "left over" money at the end of the month happens if my bills are under the amount I budgeted and put onto the card. Most often, it's built up from accumulating the extra $5 per bill that I didn't have to use. With that money, I sometimes buy a small treat for myself (a book, a take-out meal). However, since I'm in self-debt (trying to pay back my emergency fund), I'll usually change the amount I put onto my credit card next month and put my "extra" money (the money I would have put onto the credit card but no longer need to) into my emergency fund. This may seem like a convoluted way of getting your bills paid, but meanwhile I accumulate points, that I can use towards groceries, from my purchases on my credit card. When I have enough, I can use the money I have budgeted for groceries to pay my self-debt and use the points to buy groceries instead. My main points are:

1) If you have the discipline to do so properly, using your credit cards for your purchases can actually get your debt paid down faster

2) Credit cards are NOT something you only pay once at the end of the month! You can pay them before your purchases are put on them, and not worry about paying a large bill at the end of the month.

And now for the explanation:

If you’re the kind of person who knows that keeping track of your money is a weakness for you, then by all means deal with cash only. But if you’re the kind of person who knows that you can keep track of your spending pretty well, I recommend using your credit cards to accumulate rewards. I personally use my credit card for every purchase, big or small, but I never have a balance or, in fact, anything to pay off at the end of the month.

The reason for this is that I have a no-fee bank account that lets me pay bills as often as I want. So, as soon as I get home from shopping, I take out my receipts and pay them all, one at a time.

(Example: I just went shopping at three stores, and have three receipts. One is for $6.76, one is for $22.07, and one is for $15.61. I go online and pay my credit card bill, BEFORE the charge has even shown up, three times: once for $6.76, once for $22.07, and once for $15.61. That way, when I check my credit card balance online a day later, I can see three charges and three payments, all of which cancel each other out.)

I do put a set amount onto my credit card at the beginning of each month. This is the amount I have budgeted for my bills (cable, telephone, etc.), and includes an extra $5 tacked on per bill in case that bill is slightly more expensive. Then I check online frequently to see if the cable bill really was what I thought it should be. If it isn’t, I’ll call the company and get it straightened out immediately.

My “left over” money at the end of the month happens if my bills are under the amount I budgeted and put onto the card. Most often, it’s built up from accumulating the extra $5 per bill that I didn’t have to use. With that money, I sometimes buy a small treat for myself (a book, a take-out meal). However, since I’m in self-debt (trying to pay back my emergency fund), I’ll usually change the amount I put onto my credit card next month and put my “extra” money (the money I would have put onto the credit card but no longer need to) into my emergency fund.

This may seem like a convoluted way of getting your bills paid, but meanwhile I accumulate points, that I can use towards groceries, from my purchases on my credit card. When I have enough, I can use the money I have budgeted for groceries to pay my self-debt and use the points to buy groceries instead.

]]> By: Rhiannon http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2931 Rhiannon Fri, 31 Oct 2008 15:35:41 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2931 My main points are: 1) If you have the discipline to do so properly, using your credit cards for your purchases can actually get your debt paid down faster 2) Credit cards are NOT something you only pay once at the end of the month! You can pay them before your purchases are put on them, and not worry about paying a large bill at the end of the month. And now for the explanation: If you're the kind of person who knows that keeping track of your money is a weakness for you, then by all means deal with cash only. But if you're the kind of person who knows that you can keep track of your spending pretty well, I recommend using your credit cards to accumulate rewards. I personally use my credit card for every purchase, big or small, but I never have a balance or, in fact, anything to pay off at the end of the month. The reason for this is that I have a no-fee bank account that lets me pay bills as often as I want. So, as soon as I get home from shopping, I take out my receipts and pay them all, one at a time. (Example: I just went shopping at three stores, and have three receipts. One is for $6.76, one is for $22.07, and one is for $15.61. I go online and pay my credit card bill, BEFORE the charge has even shown up, three times: once for $6.76, once for $22.07, and once for $15.61. That way, when I check my credit card balance online a day later, I can see three charges and three payments, all of which cancel each other out.) I do put a set amount onto my credit card at the beginning of each month. This is the amount I have budgeted for my bills (cable, telephone, etc.), and includes an extra $5 tacked on per bill in case that bill is slightly more expensive. Then I check online frequently to see if the cable bill really was what I thought it should be. If it isn't, I'll call the company and get it straightened out immediately. My "left over" money at the end of the month happens if my bills are under the amount I budgeted and put onto the card. Most often, it's built up from accumulating the extra $5 per bill that I didn't have to use. With that money, I sometimes buy a small treat for myself (a book, a take-out meal). However, since I'm in self-debt (trying to pay back my emergency fund), I'll usually change the amount I put onto my credit card next month and put my "extra" money (the money I would have put onto the credit card but no longer need to) into my emergency fund. This may seem like a convoluted way of getting your bills paid, but meanwhile I accumulate points that I can use towards groceries from my purchases on my credit card. When I have enough, I can use the money I have budgeted for groceries to pay my self-debt and use the points to buy groceries instead. My main points are:

1) If you have the discipline to do so properly, using your credit cards for your purchases can actually get your debt paid down faster

2) Credit cards are NOT something you only pay once at the end of the month! You can pay them before your purchases are put on them, and not worry about paying a large bill at the end of the month.

And now for the explanation:

If you’re the kind of person who knows that keeping track of your money is a weakness for you, then by all means deal with cash only. But if you’re the kind of person who knows that you can keep track of your spending pretty well, I recommend using your credit cards to accumulate rewards. I personally use my credit card for every purchase, big or small, but I never have a balance or, in fact, anything to pay off at the end of the month.

The reason for this is that I have a no-fee bank account that lets me pay bills as often as I want. So, as soon as I get home from shopping, I take out my receipts and pay them all, one at a time.

(Example: I just went shopping at three stores, and have three receipts. One is for $6.76, one is for $22.07, and one is for $15.61. I go online and pay my credit card bill, BEFORE the charge has even shown up, three times: once for $6.76, once for $22.07, and once for $15.61. That way, when I check my credit card balance online a day later, I can see three charges and three payments, all of which cancel each other out.)

I do put a set amount onto my credit card at the beginning of each month. This is the amount I have budgeted for my bills (cable, telephone, etc.), and includes an extra $5 tacked on per bill in case that bill is slightly more expensive. Then I check online frequently to see if the cable bill really was what I thought it should be. If it isn’t, I’ll call the company and get it straightened out immediately.

My “left over” money at the end of the month happens if my bills are under the amount I budgeted and put onto the card. Most often, it’s built up from accumulating the extra $5 per bill that I didn’t have to use. With that money, I sometimes buy a small treat for myself (a book, a take-out meal). However, since I’m in self-debt (trying to pay back my emergency fund), I’ll usually change the amount I put onto my credit card next month and put my “extra” money (the money I would have put onto the credit card but no longer need to) into my emergency fund.

This may seem like a convoluted way of getting your bills paid, but meanwhile I accumulate points that I can use towards groceries from my purchases on my credit card. When I have enough, I can use the money I have budgeted for groceries to pay my self-debt and use the points to buy groceries instead.

]]> By: Ajana http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2930 Ajana Wed, 29 Oct 2008 08:37:30 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2930 In the UK, a 'card' has been introduced in one shop for low income earners... and/or people who don't want to budget. The Easy Shop Card charges 35 UK pounds to borrow 100 pounds on the card if borrowers repay it at a rate of 5 pounds a week over 27 weeks, giving an APR of 222.7%! :o The APR falls to 82.9% if the money is repaid over 100 weeks at a weekly rate of 1.70 pounds. The company which came up with it calls it a "loan" but that was after it was lambasted. The message is to budget or be prepared to pay for through the nose big time. There's always someone who's ready to take advantage. In the UK, a ‘card’ has been introduced in one shop for low income earners… and/or people who don’t want to budget. The Easy Shop Card charges 35 UK pounds to borrow 100 pounds on the card if borrowers repay it at a rate of 5 pounds a week over 27 weeks, giving an APR of 222.7%! :o

The APR falls to 82.9% if the money is repaid over 100 weeks at a weekly rate of 1.70 pounds.

The company which came up with it calls it a “loan” but that was after it was lambasted.

The message is to budget or be prepared to pay for through the nose big time. There’s always someone who’s ready to take advantage.

]]> By: Marie http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2929 Marie Wed, 29 Oct 2008 02:54:25 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2929 Michelle: I agree with Ajana: you had the money to pay for the tires, good! What went wrong is that your budget probably did not account for the need of winter tires. Emergencies versus expected expenses can be difficult to differentiate, but learn from it. From now on, at least 10-20% of transport money is kept for car maintenance and repairs. Gail mentions this somewhere on the website. I work a second job. I often hope to set all the money aside for debt repayment beyond the budget amount, but lately I found myself using some of it for unforeseen events and some personal choice expenses (subjective definition of need). Tough year! A second job is very helpful to build an emergency fund or get something extra you need or really really want. The important part of budgeting is cross-checking budget with reality. If you find yourself under or over, revisit the budget allocation. If you should have known about a ‘need’ that busted your budget, spend time guessing which other needs might come up (come up with 3-5 max at the beginning). Budgeting works if you tweak things as needed. The tricky part is to find the budget that works (is sustainable, is representative of your expenses). You will get there! :) Michelle:
I agree with Ajana: you had the money to pay for the tires, good!
What went wrong is that your budget probably did not account for the need of winter tires. Emergencies versus expected expenses can be difficult to differentiate, but learn from it. From now on, at least 10-20% of transport money is kept for car maintenance and repairs. Gail mentions this somewhere on the website.
I work a second job. I often hope to set all the money aside for debt repayment beyond the budget amount, but lately I found myself using some of it for unforeseen events and some personal choice expenses (subjective definition of need). Tough year!
A second job is very helpful to build an emergency fund or get something extra you need or really really want.
The important part of budgeting is cross-checking budget with reality. If you find yourself under or over, revisit the budget allocation. If you should have known about a ‘need’ that busted your budget, spend time guessing which other needs might come up (come up with 3-5 max at the beginning).
Budgeting works if you tweak things as needed. The tricky part is to find the budget that works (is sustainable, is representative of your expenses).
You will get there! :)

]]> By: Michelle http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2928 Michelle Wed, 29 Oct 2008 02:39:44 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2928 I'm reorganizing my files right now, after letting the personal and business mailings slip into the overflowing 'Inbox' file on my desk at home. I always feel so good after a clean-up and checking my cc balances and savings balances. I think that tomorrow's on-line check-up is going to be all red unfortunately, but a good glass of wine has left me thinking tomorrow's a new day to start climbing back up the hill. Thanks for the advice, and Gail, God luv you! I know you're going through your own 'shite' right now, but focussing on everyone elses cow patties helps doesn't it??! Thank you for helping out, and I'm sure you've got loads of excellent friends, both real and virtual from this site, to give you the dusting off and pats on the back you need to know you're a fab-u-lous woman. Lots of hugs (maybe that's the clarity that comes with getting organized and tidied with bills and payments this evening...or the wine??!) :-) I’m reorganizing my files right now, after letting the personal and business mailings slip into the overflowing ‘Inbox’ file on my desk at home. I always feel so good after a clean-up and checking my cc balances and savings balances. I think that tomorrow’s on-line check-up is going to be all red unfortunately, but a good glass of wine has left me thinking tomorrow’s a new day to start climbing back up the hill. Thanks for the advice, and Gail, God luv you! I know you’re going through your own ’shite’ right now, but focussing on everyone elses cow patties helps doesn’t it??! Thank you for helping out, and I’m sure you’ve got loads of excellent friends, both real and virtual from this site, to give you the dusting off and pats on the back you need to know you’re a fab-u-lous woman. Lots of hugs (maybe that’s the clarity that comes with getting organized and tidied with bills and payments this evening…or the wine??!) :-)

]]> By: Michelle http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2927 Michelle Wed, 29 Oct 2008 02:28:02 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2927 to other Michelle, Have you tried Gail's budget worksheet ? and do you get your numbers to the 100%? It's a great way to see the real % of your housing costs, etc. and where you spend way more than you really should. We find our motivation comes from the budget worksheet! It'll keep you in line! : ). Good luck! and start setting aside small amounts for next winter NOW for yourself. : ). to other Michelle,
Have you tried Gail’s budget worksheet ? and do you get your numbers to the 100%? It’s a great way to see the real % of your housing costs, etc. and where you spend way more than you really should. We find our motivation comes from the budget worksheet! It’ll keep you in line!
: ). Good luck! and start setting aside small amounts for next winter NOW for yourself. : ).

]]> By: Ajana http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2926 Ajana Wed, 29 Oct 2008 02:25:01 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2926 Michelle: But wasn't it great that you had the emergency fund to pay for your tyres? Otherwise you would have gone deeper into debt. And now you know how much to budget and put aside every month/week for the next set. Do try to pay with cash (use the jars!), cards cause spending amnesia! Michelle: But wasn’t it great that you had the emergency fund to pay for your tyres? Otherwise you would have gone deeper into debt. And now you know how much to budget and put aside every month/week for the next set. Do try to pay with cash (use the jars!), cards cause spending amnesia!

]]> By: Michelle http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2925 Michelle Wed, 29 Oct 2008 01:28:45 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2925 I think that I need to stop the 'reward points' credit card shopping and go strictly to cash starting in November...I'm addicted to the points I think, but when I pay off my grocery and gas credit card shopping in full, I'm left with nothing to pay extra towards the other 2 credit cards I let creep up there over the past couple of years. Every month I end up with $20-$40 in 'grocery' points, and I've got enough Aeroplan points to go out East, but I think I have to use those points for gift buying this year. I was putting away my emergency fund, but the Winter tire purchase just ate all of it up so I'm starting from scratch and feeling very disappointed with myself now because of it. How do you all stay so charged and on top of things when sometimes you look at the end of the month and realize instead of getting so many steps closer to being debt-free that things happened that drove you beyond the original debt-line?? Emergency winter gear shopping today left me $300 over my budget because I was waiting to get good deals on things. The coats a couple of weeks ago were half price for the kids, and I'm foregoing winter stuff for myself for the umpteenth year in a row, but going further into debt this month is depressing and I so want to spend to my heart's content, knowing full well I'll feel terrible for it afterwards. Maybe I should post in the Your Story section to get advice on how to get back on the wagon when you fall off hard some months. BTW, who the heck figured 4 pieces of rubber would be so bloody costly! Add to that an emergency root canal and winter clothing as mentioned, and I don't even see the light anymore. Debt sucks when you take one step forward and 3 steps back! I think that I need to stop the ‘reward points’ credit card shopping and go strictly to cash starting in November…I’m addicted to the points I think, but when I pay off my grocery and gas credit card shopping in full, I’m left with nothing to pay extra towards the other 2 credit cards I let creep up there over the past couple of years. Every month I end up with $20-$40 in ‘grocery’ points, and I’ve got enough Aeroplan points to go out East, but I think I have to use those points for gift buying this year.

I was putting away my emergency fund, but the Winter tire purchase just ate all of it up so I’m starting from scratch and feeling very disappointed with myself now because of it.

How do you all stay so charged and on top of things when sometimes you look at the end of the month and realize instead of getting so many steps closer to being debt-free that things happened that drove you beyond the original debt-line?? Emergency winter gear shopping today left me $300 over my budget because I was waiting to get good deals on things. The coats a couple of weeks ago were half price for the kids, and I’m foregoing winter stuff for myself for the umpteenth year in a row, but going further into debt this month is depressing and I so want to spend to my heart’s content, knowing full well I’ll feel terrible for it afterwards.

Maybe I should post in the Your Story section to get advice on how to get back on the wagon when you fall off hard some months. BTW, who the heck figured 4 pieces of rubber would be so bloody costly! Add to that an emergency root canal and winter clothing as mentioned, and I don’t even see the light anymore. Debt sucks when you take one step forward and 3 steps back!

]]> By: Sam http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2914 Sam Tue, 28 Oct 2008 22:59:53 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2914 @Kelly - the cash budget for us has been a blessing.. if there is money at the end of the week, then we can treat ourselves... go out, buy the kids clothes, or save it for something we need (new toys, or as Gail would call it "CRAP") - but knowing that we have only cash to spend, makes us spend a whole lot less. I realize we are very blessed, we put away over 20% of my net income for retirement and RESP / no debt , so there is no guilt at the end of the week if we do waste that money -:) - BUT having said that, i realize that what is keeping us in a good place, is the cash budget.. since going into debt is not an option.... it's like being an addict... the temptation is always there, but we have learned to be very disciplined .. the thought of being in over 80K in consumer debt like we were 9 years ago scares the crap out of us! @Kelly – the cash budget for us has been a blessing.. if there is money at the end of the week, then we can treat ourselves… go out, buy the kids clothes, or save it for something we need (new toys, or as Gail would call it “CRAP”) – but knowing that we have only cash to spend, makes us spend a whole lot less. I realize we are very blessed, we put away over 20% of my net income for retirement and RESP / no debt , so there is no guilt at the end of the week if we do waste that money -:) – BUT having said that, i realize that what is keeping us in a good place, is the cash budget.. since going into debt is not an option…. it’s like being an addict… the temptation is always there, but we have learned to be very disciplined .. the thought of being in over 80K in consumer debt like we were 9 years ago scares the crap out of us!

]]> By: Vix the Girl http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2924 Vix the Girl Tue, 28 Oct 2008 20:49:53 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2924 Thanks Erin - it's nice to know I'm not only one having a hard time with the worksheet :) I also wondered in the debt repayment category - do I include just the minimum payments or what I actually pay? I need a master class with Gail - perhaps an online tutorial? Thanks Erin – it’s nice to know I’m not only one having a hard time with the worksheet :)

I also wondered in the debt repayment category – do I include just the minimum payments or what I actually pay?

I need a master class with Gail – perhaps an online tutorial?

]]> By: Erin http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2923 Erin Tue, 28 Oct 2008 19:16:18 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2923 Small Claims Clerk: I heard a funny story this week...one of my friends is a teacher and she had someone come into the classroom to do an exersise on money management. They held up different items like soap, toilet paper etc. and had the children (gr.5) determine the price. She said the children were in complete disbelief and she described their reaction as almost turning into a riot. They actually thought dishsoap was a dollar and toilet paper two. Everyyear I have the children in my daycare do a canned food drive throughout the neighbourhood on a PD day. This year since they are a bit older we are going to do a tour and mock grocery shopping. I just want them to see the difference between what their family's bring home and what other families might. I used to do this activity with the Girl Guides. ps: I too had trouble with the budget sheet..I didn't ask questions online but it did take me three times to do it and had to find the instructions. I didn't realize there were any because it was farther down rather than before the activity :) Small Claims Clerk: I heard a funny story this week…one of my friends is a teacher and she had someone come into the classroom to do an exersise on money management. They held up different items like soap, toilet paper etc. and had the children (gr.5) determine the price. She said the children were in complete disbelief and she described their reaction as almost turning into a riot. They actually thought dishsoap was a dollar and toilet paper two.
Everyyear I have the children in my daycare do a canned food drive throughout the neighbourhood on a PD day. This year since they are a bit older we are going to do a tour and mock grocery shopping. I just want them to see the difference between what their family’s bring home and what other families might. I used to do this activity with the Girl Guides.

ps: I too had trouble with the budget sheet..I didn’t ask questions online but it did take me three times to do it and had to find the instructions. I didn’t realize there were any because it was farther down rather than before the activity :)

]]> By: Michelle http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2922 Michelle Tue, 28 Oct 2008 19:00:00 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2922 We use the budget worksheet to make sure we align exactly with the 100%& we use Gail's Jar System. We had to tweek the amounts on the budget that are calculated in the Jar section just enough so we only withdraw an even amount of cash for the week (our bank machine only does increments of $20's). Plus, our transportation amount is deducted from the jar total we withdraw as we leave that amount in the bank because we use "pay at the pump" debit but still use the amount only allotted from the jar #'s. (Time factor). This system works for us and we only swipe our debit card three times a week. (x1 for cash for the whole week, x1 for my vehicle fuel, x1 for husband's vehicle fuel). We use the budget worksheet to make sure we align exactly with the 100%& we use Gail’s Jar System.
We had to tweek the amounts on the budget that are calculated in the Jar section just enough so we only withdraw an even amount of cash for the week (our bank machine only does increments of $20’s).
Plus, our transportation amount is deducted from the jar total we withdraw as we leave that amount in the bank because we use “pay at the pump” debit but still use the amount only allotted from the jar #’s. (Time factor).
This system works for us and we only swipe our debit card three times a week. (x1 for cash for the whole week, x1 for my vehicle fuel, x1 for husband’s vehicle fuel).

]]> By: Sally http://gailvazoxlade.com/blog/archives/244/comment-page-1#comment-2921 Sally Tue, 28 Oct 2008 18:19:02 +0000 http://www.gailvazoxlade.com/blog/?p=244#comment-2921 @Sam - no jars - I used a similar system - I wrote about it in my "success" story. It worked for us. And if it works who is to say it is "wrong"? (Sorry if you disagree Gail) @ioana - we have thought of doing this to maximize our credit card "rewards". My only concern is the what ifs? What if something happens and you can't pay off the credit card this month? That and it took me so long to see a credit card balance as a bad thing and not part of every day life that I panic when I see it go over $500! @Sam – no jars – I used a similar system – I wrote about it in my “success” story. It worked for us. And if it works who is to say it is “wrong”? (Sorry if you disagree Gail)

@ioana – we have thought of doing this to maximize our credit card “rewards”. My only concern is the what ifs? What if something happens and you can’t pay off the credit card this month? That and it took me so long to see a credit card balance as a bad thing and not part of every day life that I panic when I see it go over $500!

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