I didn't have anyone teach me how to manage money, I tell people all the time I had to 'wing it'. I didn't do too bad although I made some foolish mistakes, that could have been averted had there been a guiding hand.
How about you, did your parents or a close friend help you or are you in the wing it crew too? When did the light come on and how do you think you are doing now?
I know a lot of folks are Dave Ramsey, Suze Orman, Robert Kiyosaki fans, so am I, but are there any other resources you recommend?
I tried the wing it for a long time and it just wasn't working because I also had no one to show me the way. I did read the Dave Ramsey book and took alot of it and adjusted it to make it work for me. The biggest thing is to make it work for you and maybe ease into it. If you have a significant other you need to get them on board too or it won't work.
Parents divorced when I was 3, raised by my dad, raised paycheck to paycheck and on the equivalent of welfare, left school at 16 (in the UK - not as bad as it sounds). We never had any money and we never learned about money. My first husband came from a wealthly family and I learned what it was like to have money although he paid all the bills. After that I learned to be responsible for what money I had - what I owned I earned and also what I owed was my responsibility to pay back. I have had an excel spreadsheet for the past 10 years that I update regularly. It shows money in and bills that have to be paid - sometimes there is $20 left over, sometimes there isn't. I also use online banking so the bills are always paid ontime. It's not perfect and we still scramble for cash but at least we are not wasting money on late fees and inflated interest charges. I am always looking for ways to reduce spending. I don't use any specific sites or resources, I do read the Women in Red on MSN Money and i have listened to Suze Orman several tmes but generally I look at the whole thing as a game where I am trying to 'win' extra cash at the end of each month - of course the whole healthcare mess doesn't help. I often feel like I am just keeping my head above water - but I can see the shoreline and I know that things will get easier if I perservere. The main thing is to recognize that my finances are my responsibility.
I know you already know about Dave Ramsey, but I really like him. He has a great website and if you want to give your kids a wonderful gift he has a program for high school kids(any older age really, even you!)that is on dvd and has a workbook. My son really liked it and learned all those things we were never taught. I bought it through a homeschool co-op, but i would think he has it on his site or maybe ebay. Good luck!
My father and I really like Dave Ramsey.
Sorry, i'm of no help but I would like to know this for myself. Especially how do you manage when your bills are more than your take home pay. How does one ever save any money?
I'm in this type of situation right now.
www.mvelopes.com is an online budgeting tool that allows you to separate all your money into virtual "envelopes" and tracks how much of each budget is left. It is a paid service, but offers a free trial to see if it is right for you. It makes budgeting and saving and organizing your finances all automatic. It accesses your bank account so you can then you can check your budgets regularly and know what is left in each "envelope". You can even go grocery shopping and check the remaining grocery budget on your phone. By planning and organizing your finances in advance, you get control over where your money needs to go. For example, I used to feel guilty when I needed a new piece of clothing, but now I budget a small amount each month for clothing, and then the money is there and accounted for in advance when I need clothes.
Best of luck!
Girlfriend, I need your help---ASAP! Unfortunately no one taught me anything about money and finances. I've had to learn on my own and learned the hard way. My credit is in shambles and worse yet, I was laid off about 2 months ago. So at the moment, I am financially embarrassed and challenged and that's even too nice of a way to describe my current financial condition. I am really trying to teach my daughter proper financial management, but find it a challenge when I can barely keep my checkbook balanced, not to mention keep money in the bank. I do know the importance of being taught, because I know the consequences of not teaching your children. I look at my friends whose parents taught them how to balance a checkbook or either had a class in elem and middle school and see how well they keep it all together. I honestly think that children should be taught this in every school, as well as parents teaching their children at home.
What is Conner Financial Coaching? I've never heard of it. Please feel free to drop me a private message regarding this program. Thank you so very much.
