February 11th, 2018 at 5:41 PM ^
it's the only way to bank.
February 11th, 2018 at 6:17 PM ^
Swiss lose your 200 billion?
February 11th, 2018 at 8:31 PM ^
Hey, that is my line!!! [Wojo voice]
February 11th, 2018 at 5:43 PM ^
I DID NOTHING WRONG. IVE BEEN FALSELY ACCUSED
February 11th, 2018 at 8:07 PM ^
Poor budget management?
February 11th, 2018 at 8:54 PM ^
He doth protest too much
February 11th, 2018 at 9:37 PM ^
Dude just stop. This is why you got sent to Bolivia. Your lucky so far that your account hasn't been totally nuked.
February 11th, 2018 at 5:47 PM ^
Income minus expenses equals positive number then on the right track.
Try to make the number more positive by increasing income or decreasing expenses
Win the game
February 12th, 2018 at 10:21 AM ^
then you just borrow money you don't have from an institution that doesn't have any either (they just print it and pretend like it has some value) and keep barrelling forward.
February 11th, 2018 at 5:48 PM ^
What in the holy he** is wrong with your head You Only Live Thrice!! That is a ignorant comment that has nothing to do with the thread. What a waste of your life
February 11th, 2018 at 6:24 PM ^
of Hermes?
February 11th, 2018 at 5:50 PM ^
EveryDollar
There is a free version, and a pay version. The pay one links to your bank.
February 11th, 2018 at 7:10 PM ^
I use this one and it has everything I could need. I have the free version so I am sure the paid one is even better. Very easy to use and can link between multiple phones.
February 11th, 2018 at 6:00 PM ^
YNAB (you need a budget) is great if you need the disciplined approach to give every dollar a job. My wife loves it.
Mint is more passive but also my preferred app.
February 11th, 2018 at 6:01 PM ^
I also recommend the Mint app
February 11th, 2018 at 6:01 PM ^
I've been using Mint for about 1.5 years now and it's pretty fantastic. As long as you're comfortable providing bank account details to a third party, which isn't everyone's cup of tea.
February 11th, 2018 at 10:50 PM ^
Mint is really good for budgeting.
Personal Capital, which I use, is good for seeing your asset allocation and investments.
It's a good app, but it can be SUPER depressing some months.
I also use a couple spreadsheets in Excel for custom things I want to track
February 11th, 2018 at 6:12 PM ^
beer.
February 11th, 2018 at 6:15 PM ^
Google calc...online free version of excel. There is nothing greater than spreadsheets learn to use them
February 11th, 2018 at 6:25 PM ^
Sure, anything Excel or Excel-related is all fun and games until you have to try and master the VLOOKUP function and accidentally reference the wrong column in a spreadsheet, then your entire budget is "N/A", but that's OK because in some months that is the correct answer anyway.
February 11th, 2018 at 6:50 PM ^
Vlookup?
Oh buddy are you going to be excited to learn about index(match...)
February 11th, 2018 at 7:03 PM ^
It’s all about the pivot table nowadays
February 11th, 2018 at 7:09 PM ^
Yeah but Pivot tables can't reference other files, you need to dump all the data in one spot, requires a lot of processing power
February 11th, 2018 at 8:34 PM ^
Try power query as it is a free add-on in Excel 2016, I love it!
https://support.office.com/en-us/article/introduction-to-microsoft-powe…
February 11th, 2018 at 7:13 PM ^
Yeah but Pivot tables can't reference other files, you need to dump all the data in one spot, requires a lot of processing power
February 11th, 2018 at 7:45 PM ^
If processing power is a problem use index match
February 11th, 2018 at 8:47 PM ^
yes. see my the message that was being replied to from me.
edit-. yup. went right over my head. ill take my licks.
February 11th, 2018 at 7:27 PM ^
excel nerd +1
February 11th, 2018 at 8:44 PM ^
...of spreadsheet nerds just about perfectly correlates with baseball fans.
February 11th, 2018 at 6:19 PM ^
Thanks, guys.
February 11th, 2018 at 6:31 PM ^
you should be able to export and checking or credit card statement to Excel and create you own categories to focus on the areas most realistic to control. if you want to get fancy, connect the raw Excel to Power BI. the apps are fine but I like the control and understanding of doing it yourself. it's not very hard if you know some basic Excel.
February 11th, 2018 at 6:32 PM ^
Is great
February 11th, 2018 at 9:05 PM ^
Easy to use and imports everything from your bank accounts
February 11th, 2018 at 6:33 PM ^
Is actually advice of "don't spend more than you make." You'll always come out ahead.
February 11th, 2018 at 7:39 PM ^
Leverage is the way to go
February 12th, 2018 at 2:17 PM ^
Life is best lived on OPM, Lever Up!
February 12th, 2018 at 4:29 AM ^
Certainly true!
Even better than "don't spend more than you make", is "learn to live poorly and happily."
My mother grew up extremely poor in Ireland, and even though she has a nice faculty position at the University, still takes the bus to work so she can read and say hi to the bus driver every day (my dads mad she only puts like 1500 miles/yr on the car he bought for her!).
Books are cheap and you can take you places no airline (or SpaceEx) can go. Musical instruments last forever, and you keep getting better with age, and the ladies seem to like it. Walks are free, and according to doctors the best medicine in the world. Dogs and cats have the highest guaranteed ROI on the planet according to my projections. And cooking your own food is both a joy, more delicious, and cheaper--plus its a great way to trick friends into coming over (restuarants and bars are great to become a regular at too, with moderation). Smiling and being friendly costs very little and makes you feel great.
Making money, saving and investing are necessary, and a fun game if thats what floats your boat (and there's nothing wrong with being a workaholic either), but sometimes it turns into "majoring in the minor things, and minoring in the major things", and "penny-wise, dollar-dumb", and people forget that the point of saving and investing is so you can be free to do what you want, by learning the value and power of both money (keyword: compound interest) and your own time that it takes to make it.
February 12th, 2018 at 7:18 AM ^
Thank you for this post! These are the kind of posts I love about Mgoblog.
February 11th, 2018 at 6:34 PM ^
He has common sense advice that will get your finances in great shape. You will not regret it!
February 11th, 2018 at 6:40 PM ^
Haters like to say he's too conservative, but he has an easy plan to follow that, if you stick to it, will see your net worth grow. It's really just common sense though.
February 11th, 2018 at 8:05 PM ^
yet his investing advice is too aggressive. he thinks asset allocation means different types of growth stock mutual funds, rather than stocks/bonds/cash. but his advice on debt is spot on. you need to attack that shit with an EUTM.
February 11th, 2018 at 6:35 PM ^
I think it's similar to Every Dollar. There are lots of options out there, and generally they are free for you to create a budget and track it manually. Mvelopes and Every Dollar both have paid memberships that will give you the ability to link your bank/credit accounts to the app and more easily track expenses.
February 11th, 2018 at 6:35 PM ^
Excel.
Honestly. Use it to map out your income and ALL your expenses, you can even add a running a calendar and program it to add on payday and subtract on the day payments are due,
February 11th, 2018 at 8:32 PM ^
I always agreed with this about Excel (and I’m really good with Excel), but when it comes to splitting receipts up (ie using a program that is dual budget and checking account/credit card ledger) there are easier options. Big fan of Moneydance.
February 11th, 2018 at 8:48 PM ^
yeah thats fair.
I keep a daily tracker in my head and debit my excel file at night. probably not ideal but its worked for me for years.
February 11th, 2018 at 6:52 PM ^
Always used a legal pad. Your mileage may vary.
February 11th, 2018 at 6:57 PM ^
Just send me all of your financial information and passwords and I'll take care of it for you