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Old 10-28-2008, 08:58 PM   #21
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The grocery stores already do this. They use those shopper discount cards to track the spending of their customers. Fortunately atm all they use the data for is to help target their advertising in local communities.
Yeah that too It's like the NAIS. Right now its all voluntary. Down the road though, all it takes is situational necessity and with the stroke of a pen, our individual freedoms get removed.
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Old 10-28-2008, 09:08 PM   #22
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Yeah that too It's like the NAIS. Right now its all voluntary. Down the road though, all it takes is situational necessity and with the stroke of a pen, our individual freedoms get removed.
[paranoid] Just wait until they start using our GPS systems to track our every move and determine if we ever speed with our cars.[/paranoid]
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Old 10-28-2008, 09:29 PM   #23
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My wife and I started using the "envelope system". However, we only use it for groceries and our "blow money" (personal money, not cocaine). We considered using envelopes for gas but its such a hassle to just go in; so, we just use the debit card for everything else.

We have seen the grocery bills go down quite a bit since using cash... I guess there is more of a sense of if I spend too much I have to put something back, so bare essentials is all we're getting. We have been living on a written (week by week) budget since we were married 1 year ago and it really does feel like you got a raise, its weird.

So, I think its worth giving it a shot at least. If you don't like it... its not hard to go back to the other way right?

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Old 10-28-2008, 09:36 PM   #24
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I don't know how one could own a home and have a happy marriage without budgeting and home accounting! We have a very simple excel spreadsheet that counts the money going in and the money going out.

However, different from you... we maintain two accounts each: one for personal discretionary funds and one for the home and bill paying. We use cards and online bill pay for everything. I don't remember the last time I kept actual cash in my pocket.

I don't care who knows what about what we spend money on (r.e. credit card tracking). If the government wants to lock me up for no reason and throw away the key without due process at all, they can do it and there is nothing I can do about it... so I don't worry about that at all.

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Old 10-28-2008, 10:28 PM   #25
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My wife and I pay for everything with ONE credit card which offers a reasonable cash back on all purchases. This being said, ALL purchases come out of a comprehensive budget that is prominently posted on the fridge. EVERYTHING is accounted for via reciepts and our statements...

Our budget consists of about 16 categories, all of which we have a predetermined spending limit. At the end of each month, if there is money left in a given category, it is NOT rolled over to the next month... it is considered extra savings. If the category is tapped out, it is tapped out... period.

We prepare our budget based on my income, which includes no OT and no per deim... we budget to save 24% of our pre-tax income which is then invested in a variety of mutual funds inside, and outside of my company sponored 401K...

The envelope plan is an awesome plan, basically we have a "virtual" envelope plan, with all CC purchases deducted from the budget spreadsheet as they occur.


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Old 10-29-2008, 02:17 PM   #26
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The Pol: Thats basically how mine works. It is so much easier to save if you have your savings redirected from your pay-check automatically (leaving only enough cash for your budget). That way you never risk over spending each month.

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Old 10-29-2008, 02:49 PM   #27
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The Pol: Thats basically how mine works. It is so much easier to save if you have your savings redirected from your pay-check automatically (leaving only enough cash for your budget). That way you never risk over spending each month.
That's how we roll. A standard deduction from each check split into 3 seperate savings accounts. 1 for a nest egg, and the 2 others are "college funds" for the boys.
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Old 10-29-2008, 03:36 PM   #28
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We don't do envelopes, but we do keep a detailed budget in our household tracking spending in excel...it allows us to make savings goals and stick to them, as well as seeing where we can cut back on spending. Everyone should do some sort of budget, then maybe the average American wouldn't spend more then they earn...

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Old 10-29-2008, 03:37 PM   #29
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Sounds like "Dave Ramsey's" system.
Except my mom started it long before he did. I married very young (18), mom's gave us an old safe deposit box with an envelope marked for every expense, rent, car payment, utilities, and savings. Every Friday after payday, we put 1/4 in every envelope. We didn't even have a checking account for the first 2 years of marrige, just paid everything with money orders.

Of course we now have a checking account and credit cards (which are paid off every month) and a credit score of 800 and not one missed payment or defaulted loan in 21 years of marriage. I believe this is an excellent training tool for kids today.
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Old 10-29-2008, 05:29 PM   #30
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Of course we now have a checking account and credit cards (which are paid off every month) and a credit score of 800 and not one missed payment or defaulted loan in 21 years of marriage. I believe this is an excellent training tool for kids today.
That is great, glad to know others have benefited from a system similar to it. I also think that parents need to sit with their kids and teach them how to deal with money.

P.S. your mom should get royalties from Dave Ramsey
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