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Good budgeting website/advice?

anvloveskmeanvloveskme member
in Babies: 6 - 9 Months

We actually owe on our taxes this year, which really sucks (we use a CPA, so we know it is right).  DH and I both make a good living and have very reasonable child care, but aren't very good at minding our money or being accountable for it on a montly basis.  We have written down our essentials before and we should have plenty left over every month based on that, but it seems like month after month, we never add to our savings...bummer!  Anyhow, we want to make the commitment to start saving and are thinking about meeting with a financial adviser, but I wanted to see what ladies are using on here.  Any suggestions are appreciated.  THX!

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Re: Good budgeting website/advice?

  • meangenemeangene
    I know it sucks to owe money on your taxes, but it just means that you're paying the gov't now instead of installments over the year. I prefer to owe than to get back, because it means that I haven't been giving the IRS a free loan :)

    I'm not a financial advisor, but I've worked in financial services and have my mutual fund licenses. My bets advice would be - Set up some sort of automatic investment system. That way you don't have to think about making the transfer to savings every month. If possible, have it come out of your paycheck so you never even see the money leave. 

    Make sure that you and your DH are participating in any employee-sponsored retirement plans, at least up to the point that the employer will match.  It's also often a good idea to have your own IRAs. 

    A financial advisor is not a bad idea, but go into any meeting with a good idea of what you want and what your goals are. Remember than an advisor is in the business to make money, just like anyone else. Generally, they make more money off of annuities/life insurance than they do off of mutual funds or stock transactions. Also, speak with your husband about your risk tolerances before you go into a meeting. Make sure that you're comfortable with the level of risk that your investments may hold. Any good advisor will thoroughly explain what they want you to put your money into, and what the potential benefits and risks are.

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  • wandafeetwandafeet
    I could've written this post exactly! We're going to try Dave Ramsey's budget sheet and see how that works. But I'd love to see what other people respond
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  • meangenemeangene
    Sorry to post again after I wrote a book up there - but - I export my bank activity to an excel spreadsheet, categorize any transactions (groceries, entertainment, etc) and make a pivot table to see where the money actually goes every month.
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  • tyke29tyke29 member

    I just use excel.  I have a line for each item each month and I have thought of everything.  We also have a household account for all the bills, ect and personal accounts for our blow $ - $200 a paycheck each ($800 a month total) 

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  • ricejlricejl member
    We use Quicken but my best financial advisor is Dave Ramsey....love him!!!! His website is full of information.
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  • mrsr09mrsr09

    We love Dave Ramsey, too! Great advice on getting out of debt and managing money well. He also has financial advisers he endorses, who of course still want to make money, but they should be teaching their clients about money management, too. We just met with one of these guys and he was great.

    Dave's home page: https://www.daveramsey.com/home/  His endorsed financial planners: https://www.daveramsey.com/elp/home/

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