Fro Diesel
creative control
- Location
- Kzoo
:haha:It might not be the best idea telling everyone on the internet you have envelopes full of cash lying around the house
Dave Ramsey, debt, credit cards, retirement, etc
- Thread starter SuperJETT
- Start date
'full of cash'? You realize we're talking like maybe $300 total? I know people that carry that in their wallets/purses daily. I know one guy who keeps 2 $100 bills in his wallet 'just in case'.
Who doesn't?:dunno:
romack991
homebrewed
- Location
- Warsaw, IN
I used the envelope system for awhile but I stopped after I went back to using my CC to track spending since it puts all purchases into categories automatically and can give me month to month averages, ect. Rarely did I set out a time to go buy a specific item. So typically I never had the money from the envelope to spend. I'd have cash in my wallet or use my debit card. Then have to replace that money with the envelope money. Some what of a hassle since I didn't follow the method precisely. I personally don't care to go to a bank if I don't have to so it wasn't the best for me. As Jett said, everyone has their own preference. Although 300 dollars max? I'd easily have over grand at any one time. I had 8 envelopes totaling $470 a month. Most were not spent but every 3-6 months.
Medical
Auto Insurance/Registration/Repair
Gifts
Vacation
Clothes
Life Insurance
Furniture/House repairs
Jetski
Blow money just went into my wallet, Anything that was a monthly bill was just paid from checking, I just used the envelope system to manage random, higher cost items. It was quite nice to not even notice a drop in the account when big bill came in since the money was already in a envelope. If I could make partitions in my checking account to earmark stuff similar to putting it in a envelope I would.
Medical
Auto Insurance/Registration/Repair
Gifts
Vacation
Clothes
Life Insurance
Furniture/House repairs
Jetski
Blow money just went into my wallet, Anything that was a monthly bill was just paid from checking, I just used the envelope system to manage random, higher cost items. It was quite nice to not even notice a drop in the account when big bill came in since the money was already in a envelope. If I could make partitions in my checking account to earmark stuff similar to putting it in a envelope I would.
BruceSki
Formerly Motoman25
- Location
- Long Island
right on bro... if i could do that i would... it would make life so much easier.
if i could split my check up right away each week into different folders of a checking account or something.
i pay all my bills online as it is so it would be easy
- Location
- Largo, Fl
wrapped around his condom no doubt....
Nah, he's old enough to not have to worry about that, he just likes being able to give someone $100 if they need it.
So for all of you guys that have coordinated an FPU class before I've got some questions. How much time does it take on a weekly basis and what suggestions do you have, what have you found makes the class run smoother?
I'm taking over the class that our church is teaching and this will be the first time that I've we (my church) has offered it or that I've gone through it so any tips would be helpful. Thanks
I'm taking over the class that our church is teaching and this will be the first time that I've we (my church) has offered it or that I've gone through it so any tips would be helpful. Thanks
From the Wall Street Journal: http://online.wsj.com/article/SB121306062218059549.html?mod=hpp_us_pageone
Hi, My Name Is Fred,
And I'm Addicted to Credit Cards
[FONT=Times New Roman,Times,Serif]In the Debt-Soaked Economic Slump,
Americans Find Solace in Support Groups[/FONT]
[FONT=times new roman,times,serif][FONT=times new roman,times,serif]By JENNIFER LEVITZ
June 10, 2008; Page A1[/FONT]
[/FONT]
After years of free spending -- $200 jeans, a silver BMW and other grown-up toys -- Michael Wagner had racked up $25,000 in credit-card debt and was behind on his mortgage and car payments. Creditors called night and day. It was a "hopeless downward spiral," he says.
Then, last November, the 34-year-old sales manager for the St. Louis Post-Dispatch joined the "Sunday morning breakfast club," a group of debtors who meet weekly over coffee and eggs to share money woes. Mr. Wagner says he is now on the road to financial recovery, helped by his discovery that "I wasn't alone."
Far from it. In the debt-soaked economic slump of 2008, growing numbers of in-hock Americans are finding solace, and sometimes solutions, in support groups for the overextended. Gatherings like Mr. Wagner's are springing up at churches, colleges and coffee shops.
Meetup.com, a Web site that organizes physical and virtual meetings, says it now serves 138 groups who gather in person to talk about debt management, up from 24 a year ago. Debtors Anonymous -- a cousin of Alcoholics Anonymous -- reports greater demand particularly in Southern California and Arizona, areas hit hard by the downturn. Activity is rising online: Postings are up 81% this year on the debt-related message boards of iVillage, a women-oriented site owned by General Electric Co.'s NBC Universal.
And since the beginning of this year, the Southern Baptist Convention has been sending representatives around the country who are urging churches to start debtor-support groups.
Group therapy for folks who owe a lot isn't a new idea. Debtors Anonymous has been bringing borrowers together to battle what it calls "compulsive debting" for decades. But for years, the group's growth was hampered by the social stigma surrounding money problems, says a spokesman. "It used to be that you had to live in shame about debt," says Ashley Clayton, who helps organize the Southern Baptist campaign. "Now, there's been an awakening."
Growing pressure -- 11.8 million bank credit-card accounts are delinquent, and foreclosure filings topped two million last year -- is making more people ready to share sensitive debt problems with strangers. And observers add that many of the more outspoken debtors hail from a younger generation, those who grew up with MasterCards and without Depression-era memories.
The Hungry Boyfriend
Last month, 26-year-old accountant Shawanda Greene says she joined "Girls Just Wanna Have Funds," a recently created Washington, D.C., support group of mostly younger women. Ms. Greene's goal: to figure out why, despite an annual salary of $82,000, she had only $54 in her savings account.
The Girls kicked into action, encouraging Ms. Greene to track her spending. While some of her income was going to pay down debt, including $14,500 in student loans, Ms. Greene realized she was also spending too much on extras, like her $400 Cole Haan boots and her hungry boyfriend, who she says would consume much of her food when he came over. "Things were particularly bad when it came to produce," she says. "He'd eat like four tangerines at once....Sometimes I'd cut up some watermelon, pineapple and strawberries. He'd eat a good 75% of that."
So, Ms. Greene says she dumped him, after frequent arguments about grocery bills and other money matters. The former boyfriend, a 36-year-old engineer named Lindon Fairweather, says he shared grocery costs but acknowledges he did munch a lot of fruit at Ms. Greene's. "I'll eat more than four tangerines, absolutely....I can eat 18 mangoes in two days," he says. "That's just me."
In addition to tips on budgeting and penny pinching, debtor circles also offer a sympathetic audience for confession. The "NYC Smart Cookies Money Club," a Manhattan debt-management group for women ages 20 to 45, has scheduled an upcoming meeting with an agenda that includes disclosing "your rock-bottom financial moment."
On a recent Tuesday evening in Granger, Ind., the nondenominational Granger Community Church drew 375 people for "Financial Peace University." In its second year at Granger, Financial Peace is a sort of weekly group confessional for debtors who follow the live-within-your-means teachings of Dave Ramsey, a nationally syndicated radio host.
Fishbowls and Scissors
The church keeps fishbowls and scissors up near the stage for anyone inspired to cut up the credit cards on the spot. One who took advantage was Paula Frederick, a cheerful 42-year-old order manager at a phone company, who says her husband ran up to try to stop her from chopping up her Best Buy card. "I about took his finger off," she says, adding that she eventually succeeded in cutting up the card into pieces.
With church volunteers passing the microphones, Richard Rice, a burly, 37-year-old medical technician, rose to testify. Although he makes $70,000 a year, Mr. Rice said he had barely been able to save. Buffeted by a divorce last year that forced him to move and outfit a new house, he built up $20,000 in card balances.
"Back in January, one day, I had $30 to my name," he said. But now Mr. Rice said he has knocked $2,000 off his card debt and put aside $1,000 in an emergency fund. "I finally made a decision I wasn't going to live like this anymore," he proclaimed, drawing applause and a few raised fists from the crowd.
"I'm proud of you, dude," said Dave Dewey, a church volunteer who led the meeting. "A thousand may not be much, but it's $970 more than you had before."
In St. Louis, Mr. Wagner -- who at one point contemplated bankruptcy -- says the breakfast club taught him how to stick to a budget. It isn't always easy. Each Sunday Mr. Wagner and his compatriots aim to send a meal plan to Mike Pritt, a frugal technology consultant who serves as the club's unofficial adviser. The plans help members commit to eating most meals at home.
Having forsworn credit cards, each payday Mr. Wagner puts his cash for living expenses -- from gas to haircuts -- in envelopes. He says he started using the sales bonuses from his six-figure salary to pay credit-card debt and says he had knocked his balance down to $8,000.
A New Romance
Then, in early spring, Mr. Wagner started a new romance. The money designated for his credit-card bill began paying for dates instead. Three weeks ago, Mr. Wagner came clean to the breakfast club, confessing that the new relationship was killing his budget. Mr. Pritt suggested Mr. Wagner tell the girlfriend about his financial picture. Mr. Pritt also suggested the girlfriend, who enjoys shopping sprees, could have some spending problems of her own. "I said he should sit down and go over her budget," Mr. Pritt says. Mr. Wagner decided to talk to his new girlfriend after a St. Louis Cardinals game earlier this month.
She dumped him. She "didn't even want to hear about budgets or financial responsibility," Mr. Pritt says. Mr. Wagner says it's for the best. "She's too fun loving," he says, and "I'm too responsible."
Hi, My Name Is Fred,
And I'm Addicted to Credit Cards
[FONT=Times New Roman,Times,Serif]In the Debt-Soaked Economic Slump,
Americans Find Solace in Support Groups[/FONT]
[FONT=times new roman,times,serif][FONT=times new roman,times,serif]By JENNIFER LEVITZ
June 10, 2008; Page A1[/FONT]
[/FONT]
After years of free spending -- $200 jeans, a silver BMW and other grown-up toys -- Michael Wagner had racked up $25,000 in credit-card debt and was behind on his mortgage and car payments. Creditors called night and day. It was a "hopeless downward spiral," he says.
Then, last November, the 34-year-old sales manager for the St. Louis Post-Dispatch joined the "Sunday morning breakfast club," a group of debtors who meet weekly over coffee and eggs to share money woes. Mr. Wagner says he is now on the road to financial recovery, helped by his discovery that "I wasn't alone."
Far from it. In the debt-soaked economic slump of 2008, growing numbers of in-hock Americans are finding solace, and sometimes solutions, in support groups for the overextended. Gatherings like Mr. Wagner's are springing up at churches, colleges and coffee shops.
Meetup.com, a Web site that organizes physical and virtual meetings, says it now serves 138 groups who gather in person to talk about debt management, up from 24 a year ago. Debtors Anonymous -- a cousin of Alcoholics Anonymous -- reports greater demand particularly in Southern California and Arizona, areas hit hard by the downturn. Activity is rising online: Postings are up 81% this year on the debt-related message boards of iVillage, a women-oriented site owned by General Electric Co.'s NBC Universal.
And since the beginning of this year, the Southern Baptist Convention has been sending representatives around the country who are urging churches to start debtor-support groups.
Group therapy for folks who owe a lot isn't a new idea. Debtors Anonymous has been bringing borrowers together to battle what it calls "compulsive debting" for decades. But for years, the group's growth was hampered by the social stigma surrounding money problems, says a spokesman. "It used to be that you had to live in shame about debt," says Ashley Clayton, who helps organize the Southern Baptist campaign. "Now, there's been an awakening."
Growing pressure -- 11.8 million bank credit-card accounts are delinquent, and foreclosure filings topped two million last year -- is making more people ready to share sensitive debt problems with strangers. And observers add that many of the more outspoken debtors hail from a younger generation, those who grew up with MasterCards and without Depression-era memories.
The Hungry Boyfriend
Last month, 26-year-old accountant Shawanda Greene says she joined "Girls Just Wanna Have Funds," a recently created Washington, D.C., support group of mostly younger women. Ms. Greene's goal: to figure out why, despite an annual salary of $82,000, she had only $54 in her savings account.
The Girls kicked into action, encouraging Ms. Greene to track her spending. While some of her income was going to pay down debt, including $14,500 in student loans, Ms. Greene realized she was also spending too much on extras, like her $400 Cole Haan boots and her hungry boyfriend, who she says would consume much of her food when he came over. "Things were particularly bad when it came to produce," she says. "He'd eat like four tangerines at once....Sometimes I'd cut up some watermelon, pineapple and strawberries. He'd eat a good 75% of that."
So, Ms. Greene says she dumped him, after frequent arguments about grocery bills and other money matters. The former boyfriend, a 36-year-old engineer named Lindon Fairweather, says he shared grocery costs but acknowledges he did munch a lot of fruit at Ms. Greene's. "I'll eat more than four tangerines, absolutely....I can eat 18 mangoes in two days," he says. "That's just me."
In addition to tips on budgeting and penny pinching, debtor circles also offer a sympathetic audience for confession. The "NYC Smart Cookies Money Club," a Manhattan debt-management group for women ages 20 to 45, has scheduled an upcoming meeting with an agenda that includes disclosing "your rock-bottom financial moment."
On a recent Tuesday evening in Granger, Ind., the nondenominational Granger Community Church drew 375 people for "Financial Peace University." In its second year at Granger, Financial Peace is a sort of weekly group confessional for debtors who follow the live-within-your-means teachings of Dave Ramsey, a nationally syndicated radio host.
Fishbowls and Scissors
The church keeps fishbowls and scissors up near the stage for anyone inspired to cut up the credit cards on the spot. One who took advantage was Paula Frederick, a cheerful 42-year-old order manager at a phone company, who says her husband ran up to try to stop her from chopping up her Best Buy card. "I about took his finger off," she says, adding that she eventually succeeded in cutting up the card into pieces.
With church volunteers passing the microphones, Richard Rice, a burly, 37-year-old medical technician, rose to testify. Although he makes $70,000 a year, Mr. Rice said he had barely been able to save. Buffeted by a divorce last year that forced him to move and outfit a new house, he built up $20,000 in card balances.
"Back in January, one day, I had $30 to my name," he said. But now Mr. Rice said he has knocked $2,000 off his card debt and put aside $1,000 in an emergency fund. "I finally made a decision I wasn't going to live like this anymore," he proclaimed, drawing applause and a few raised fists from the crowd.
"I'm proud of you, dude," said Dave Dewey, a church volunteer who led the meeting. "A thousand may not be much, but it's $970 more than you had before."
In St. Louis, Mr. Wagner -- who at one point contemplated bankruptcy -- says the breakfast club taught him how to stick to a budget. It isn't always easy. Each Sunday Mr. Wagner and his compatriots aim to send a meal plan to Mike Pritt, a frugal technology consultant who serves as the club's unofficial adviser. The plans help members commit to eating most meals at home.
Having forsworn credit cards, each payday Mr. Wagner puts his cash for living expenses -- from gas to haircuts -- in envelopes. He says he started using the sales bonuses from his six-figure salary to pay credit-card debt and says he had knocked his balance down to $8,000.
A New Romance
Then, in early spring, Mr. Wagner started a new romance. The money designated for his credit-card bill began paying for dates instead. Three weeks ago, Mr. Wagner came clean to the breakfast club, confessing that the new relationship was killing his budget. Mr. Pritt suggested Mr. Wagner tell the girlfriend about his financial picture. Mr. Pritt also suggested the girlfriend, who enjoys shopping sprees, could have some spending problems of her own. "I said he should sit down and go over her budget," Mr. Pritt says. Mr. Wagner decided to talk to his new girlfriend after a St. Louis Cardinals game earlier this month.
She dumped him. She "didn't even want to hear about budgets or financial responsibility," Mr. Pritt says. Mr. Wagner says it's for the best. "She's too fun loving," he says, and "I'm too responsible."
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- Location
- Cleveland Ohio
Now I ain't saying she a golddigger....
but she aint messin with no broke....
but she aint messin with no broke....
steveyz250fpilot
Banned
- Location
- Huntsville, Alabama
:headbang:
douglee25
m3booooy
- Location
- South Jersey
Retirement calculator: http://www.dinkytown.net/java/RetirementNestegg.html
tom21
havin fun
- Location
- clearwater FL
I just have multiple checking accounts and do a transfer to each account. pretty easy. having the money to transfer is the hard part.
Well we went to Nashville for a work conference that Kara had to attend. I did not have anything to do during the day besides walk around Nashville and drink beer so I took a trip out to Brentwood and watched Dave do his show. I got to see him do a simulcast with Fox Business channel and even got to go back into the production studio and meet during his show and meet his staff (Matt, Lara, and Blake). Dave came out twice and talked to me during commercial breaks and signed a book for me after the show. Lots of fun and if anyone is a fan of his show and in the Nashville area I highly recommend making the trip out to Brentwood.
Attachments
BruceSki
Formerly Motoman25
- Location
- Long Island
Last edited:
It was pretty cool. I used to do a radio show in college and it is amazing how similar their stuff was to what I used. The only difference being that all of theirs was top notch and digital where my stuff was all old cheap and analog, but it operated the same way. It was really cool to see how the simulcast came together with Fox News.
Speaking of Podcasts check out "Albert Mohler" he has two, you want to listen to the daily show. I believe it is called "The Albert Mohler Program, it should be about an hour long. The other is his sermon or devotional. I've never listened to it, it may be decent. His radio show however is always thought provoking. Janet Parshall occasionally has a good show as well.