What are your rules on Money?

[Spinneret]

for example nothing over $100 for a new top

 

[tvguy]

Buy staples like milk, gasoline, eggs produce and clothing at the lowest possible price where the brand doesn't matter so I have money left over from fun things.

 

[dvcgirl67]

Set a budget for the year every January which includes all expenditures/bills, monthly discretionary spending, travel and retirement savings in retirement and taxable accounts. Once the budget is set....we follow zero based budgeting....every dollar has a place to go. The only two categories we track is monthly discretionary and grocery spending. That's it.

If we're under for the month, the excess goes to the emergency fund. If we're slightly over...we'll roll over to the next month, or pull from the emergency fund depending on the expense. It works...we've been doing this for years and years.

 

[ronandannette]

An enjoyable and generous life today is balanced with security for a future that may never come.

 

[White Cat]

Buy very few items but buy quality items.

 

[Mysterian]

1. Yes, please.

2. More, please.

 

[wishicouldgomoreofte]

Set a budget for the year every January which includes all expenditures/bills, monthly discretionary spending, travel and retirement savings in retirement and taxable accounts. Once the budget is set....we follow zero based budgeting....every dollar has a place to go. The only two categories we track is monthly discretionary and grocery spending. That's it.

If we're under for the month, the excess goes to the emergency fund. If we're slightly over...we'll roll over to the next month, or pull from the emergency fund depending on the expense. It works...we've been doing this for years and years.

What is zero based budgeting?

 

[karen4546]

My money, my business.

 

[disneychrista]

If you don't have the money you can't afford it.

 

[MillauFr]

An enjoyable and generous life today is balanced with security for a future that may never come.

This is the correct answer.

 

[MillauFr]

Buy very few items but buy quality items.

Which is why we go to Disneyland instead of some third rate theme park.

 

[slo]

Budget
Budget
and…..Budget

 

[DLgal]

Spend more for better quality, in all things. Better quality ends up costing less in the long run, especially when it comes to food. Healthcare for chronic illness is much more expensive than high quality food.

 

[Luv Bunnies]

Save whenever you can. You never know when you might need it.

 

[NannyBeBe]

Save 10 percent, give 10 percent, live on the 80 percent. And live debt-free as much as possible.

 

[BamaGuy44]

Not many hard and fast rules, other than "pay yourself first" which I learned early on, but didn't always follow when we were younger. Savings always comes directly out before pay ever hits the bank accont. As long as we are saving what we need to for the future, and not going into consumer debt, how we spend the rest doesn't concern me too much.

Like others said, I do believe in paying for quality, it pays off in the long run.

Also over time money became a way to buy experiences and freedom, rather than "stuff". So I guess a rule is spend whatever for great vacations and don't beat myself up over it later. I don't think too many people on their death bed look back and say "man I wish I hadn't done all those great vacations with my family"

 

[CinderEmma94]

What is zero based budgeting?

It means every dollar has a place to go (income-fixed expenses (bills)-variable expenses (spending)-saving-investing-extra debt payments=0). Not that every dollar is spent, but every dollar is accounted for whether it is spent, saved, invested, or sitting in your checking account as a cushion.

 

[disykat]

If you don't have the money you can't afford it.

This is gold. Remember the SNL skit on this?

 

[MouseOfCards]

Beware of a SALE!

SALE definition:

something you won't use at a price you can't resist

 

[CinderEmma94]

We follow a zero-based budget. No unnecessary debt (we will have a mortgage at some point but we don’t live above what we make and save for what we want). Beware of coupons/Black Friday/prime day sales - they can be nice but also can convince you to buy something you weren’t planning to buy because it’s “cheaper”.