Outside Influences $Weekly Money Check-in$

momofcatan · October 2014

Feel free to participate in either section or both!

Part I: If you have a savings goal, how is it going? Hit any roadblocks this week? Any success you want to share?

Part II Outside Influences: How has your family influenced your view on finances? Do you think your environment (friends, neighbors, family, coworkers) influences how you spend money?

momofcatan · October 2014

Thanks @steamboat123 for reminding me!

Part I: I have not been very proactive this month, and my to-do list is growing. Call the bank to move around some savings/investments, apply for more jobs, look into a no fee/no minimum chequing account (any Canadian ladies use Tangerine?). I have one win, this is one of the best months we've had recently in terms of grocery spending so far only $400/$600 budget.

I also redeemed a bunch of my credit card points for $1000 statement credit and will now have them automatically redeem every month so that will be an extra $50/month.

Part II: So much! My parents were both good with money which gave me a great example. I'm lucky I can go to them to get advice and trust they know what they are talking about. They were/are extremely low-risk with saving but I'm starting to learn that for me it will be smarter to be less conservative.

I've also been affected negatively by outside influences. By biggest financial "confession" is buying a house we can barely afford, and I did this because I grew up thinking that the only option is to buy a house and renting is a waste of money. I assumed that because our parents can afford their houses we would be able to afford one. I did not do enough research about the real costs of being a homeowner.

I'm extremely aware of what we can afford so I don't worry much about what others think at this point. I am proud of our 7 and 13 year old cars and mowing my own lawn because I know its because I'm being smart. I talk very openly about money, I think in part because I don't want people to think that we are rich just because of our house. Also because I feel like talking about money can help everyone be smarter about it. I am worried about denying DD thinks she wants when she is older because we can't afford them but I'll cross that bridge when we get there.

WasNotWas · October 2014

Part 1: it's budget season in the Was house. We have a meeting scheduled this week to discuss the 2015 budget and goals. We want to paint the house and either do a bathroom remodel or an outdoor play area for the kids, so those are our savings goals right now

Part 2: My mom told my sister and I all the time growing up that if we wanted to live the way we did growing up that we would either have to marry rich or get a good job We grew up couponing and being fiscally savvy. I went a little crazy in my early 20s but I am getting back on track. MH is amazing with his money, but doesn't do the research into getting the best deal on big ticket items. We are a good balance in that. We are both good at making it appear that we have more money than we do by choosing (and saving for) quality items. We only have credit card for work expenses, so that limits our ability to live beyond our means.

cafecreme · October 2014

I think these are great questions!

Part I: If you have a savings goal, how is it going? Hit any roadblocks this week? Any success you want to share?

Right now it's kind of up in the air. A lot of expenses have come up this month. My H bought a new car last week, and put a down payment of 5k. We probably now save something like 3-500$/mo. He cut going out for lunch every day so he'd replace that money with his car payment. I make lunches daily now.

Part II Outside Influences: How has your family influenced your view on finances? Do you think your environment (friends, neighbors, family, coworkers) influences how you spend money?

Most definitely influences us. We see so many people under water, not being able to pay for necessities. It's crazy to live like that, and live pay check to pay check. That's a big reason why we're waiting to buy a house; so we have more than enough saved for a house and unexpected expenses.

itsStackie · October 2014

Part 1: We planned another Budget meeting for Monday, but DH was just informed he has to work. Fortunately I work from home. I think we are doing well on our budget. We were tight last week, but I think it's because I put more money into paying off the credit card without discussing it.

)

Also, we are about to get an inheritance from my grandma, we need to seriously discuss that, before we spend it all.

Part 2: Our family is supportive, but sometimes they go to far. If we are tight for a vacation they say they will help out for it, which I love, but I feel like it's not helping me buckle down.

Most of our friends have been better, but I think it's more so because we have a kid they don't invite us out. Oh well. And then we have other friends trying to talk us into Disney tickets. So maybe none of them are supportive.

momofcatan · October 2014

@steamboat123 When I saw the markets going down last week I was thinking "I need to get in, NOW!". And then I didn't... I am the worst at getting stuff done unless there's a gun to my head.

@wasnotwas I was just listening to something that said any big ticket purchase you want to get should go on a 30-day wait list so you can see if at the end of 30 days you still want it. I guess that would also give you time to research better price options.

@Itsstackie We are also blessed to have family that is willing to help out. I also had my reservations, but I know we could make it work for necessities without help if push came to shove. We wouldn't take the vacation if we can't afford it, so if they are willing to give that to us as a gift I will be a happy recipient.

WasNotWas · October 2014

yes @momofcatan it takes me forever to make a purchase because I am always price searching, he is of the thought that we work hard so we should play hard, and spend money when we need to. I am training him to think that we can still play hard and get a good deal

momofcatan · October 2014

@megsw85 Make sure you call up (or go into a branch) and ask to get the charges revered. They are usually very easy going if you just say you didn't realize you were going to be charged. See if you can get an account with as few fees as possible. I'm with TD and have an account with no fees as long as I keep $3500 in it.

I think it would be pretty simple to move all you direct deposits and automatic payments. The main thing holding me back from switching to Tangerine is I don't think I can do my mortgage payment as easily from a different bank.

Lizzybizzy80 · October 2014

Part 1: doing ok, over budget in two areas but under in others. I called UVerse to ask about cheaper options and they lopped off $30/month without changing anything.

Part 2: I think my family influences me more than anyone else when it comes to money. They weren't cheap but they didn't overspend to keep up with others. We really didn't discuss finances or saving as a family and I hope to do that with B. I want to be honest with him about what we can afford with things like college and what will be expected of him.

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