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Software For Budget

Discussion in 'General Discussions' started by mangaii, Feb 29, 2020.

  1. Rihana

    Rihana Finest Post Winner

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    I came to know about this by accident. I was cooking something, DH was showing the kids (then both teenagers with new ATM cards) the online credit card statement and the where-spent & percentages it obligingly provides. DS asked me for afar, 'amma did you know in the last 12 months we spent ... on eating out or take out?" The silence from me due to my shock was audible over the cooking range exhaust fan. : )

    For at least 6 months, I was very mindful when eating out. Not as in reduced it, but, just mindful of the cost. I swear it took most of the joy out of eating out. The shock did work though slowly. Over 1.5-2 yrs, the eating out has reduced to mostly for celebrations.

    The coffee that I have outside is close to holy. : )

    Jokes aside, looking at the credit card statements (and PayPal) often is enough to give me an idea of where I spend more and can bring it down. Sometimes, I also glance at the 'past orders' in Amazon.
     
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  2. Laks09

    Laks09 Moderator Staff Member IL Hall of Fame

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    I'm in this category @mangaii. What helped me was to take charge of the savings and put money away. Even now, I impulse shop but I'm not guilty spending because I know that I'm not going overboard. Can we save more and cut down on luxuries and unwanted things? Absolutely. I've stopped guilt tripping myself though. As long as within means, I'm ok.
    Having mint helps but looking into bank statements/cc statements/break up of usage/savings etc helps me more.

    Btw, I used to be a prolific Debit Card/check user until a personal experience which I don't want to go into the details. Debit cards don't offer as much fraud protection as CCs. If you don't contest debit card/check withdrawals within the 90 day period, you lose that money(I figured out before the 90 days - only saving grace). I've completely stopped using DCs unless it's for cash withdrawal. I also look at all statements under a microscope - every transaction. I question DH and DD relentlessly - did you spend 20 bucks here, 30 there and so on and so forth!
     
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  3. Laks09

    Laks09 Moderator Staff Member IL Hall of Fame

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    I get only gift cards or I'm allowed to use it for my CC payment. Which CC do you have that gives cash back? I use the best for cash back but it doesn't actually let me take the cash and put it in the bank.
     
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  4. GoneGirl

    GoneGirl Gold IL'ite

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    Citi bank with costco gives cash back, but you need to collect the cash from
    Costco. Am sure a lot of others do too.
     
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  5. Laks09

    Laks09 Moderator Staff Member IL Hall of Fame

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    Ok. I don’t use that much because I felt capital one gave more points for purchases and doesn’t have foreign transaction fees.
     
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  6. MalStrom

    MalStrom Platinum IL'ite

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    An increasing number of cards now don't have those fees. I got the Amazon visa card which gives 5% back on Prime purchases, 5% back at Whole Foods and some lesser percentage on other purchases, plus no foreign fees.
     
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  7. hermitcrab

    hermitcrab Platinum IL'ite

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    I personally wouldn't want to put my CC details in yet another place. But having said that, many people love mint.
    I try to buy everything on credit card, even if the desi store clerk gives me a look for using credit card for $9 purchase. I use cash only for things like eyebrows at desi-at home- parlor
    The credit cards I use, have cash back and other perks.

    When I login to pay my CC bill, I take some time to look at what all did I spend on. Some credit cards give you pie charts of your spending habits. But it does label 'swim instruction fee' as 'entertainment'. One card lets me use my points towards gas, toll charge etc.
    I do collect cash back from Costcocard. I have a store card- where I buy clothes- and using the card there- adds up my savings.

    I am a frugal person. So, having a CC is okay for me. Some people use cash- just for the guilt it brings them. I go on guilt trip even by swiping my CC.

    I have a rule of no coffee outside, while I am okay to pay any amount for parking. I try to wear the same seasonal clothes, year after year. Don't care for branded purses. But own jewelry. I buy jewelry from kids birthday gift cards or other cash back- again a rule- never spend my money jewelry.

    Stopped eating out, because of my dirty-keto diet. Let in a takeout, once in a while.

    I have put a notification/alert via email/ texts for below:

    CC balance over a certain amount
    Electricity usage over a certain amount

    I would suggest that continue using CC. Get ones that have best reward system- that work for you. Do not use Debit card- this doesn't work for you at all because it does not make your credit history nor protects against fraud.

    One time, I had $600 bill on my CC, for some very usable auto engine part. I called- I flaged the store (where I thought the fraud happened) and claimed the $600 as fraud- I didn't have pay a dime.

    I have been using amazon prime a lot, I plan to stop the membership. I read a lot about FIRE. Some of the tips can be used by anyone.

    My expense is on my children, and mostly on their activities. But I tell myself that it is important to spend now, so that they are prepared for life.
     
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  8. kkrish

    kkrish IL Hall of Fame

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    :roflmao:
    I was imagining the scenario and was ROFL just like the emoticon above. You are such fun @Rihana

    Haha! No, don't give it up for anything!

    I mentioned coffee as an example because that is one thing I never have outside of home, in the US.
     
    Last edited: Mar 1, 2020
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  9. kkrish

    kkrish IL Hall of Fame

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    Hi @Laks09
    Here is a list of the credit cards that give cash back.
    12 Best Cash Back Credit Cards of March 2020 - NerdWallet
     
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  10. kkrish

    kkrish IL Hall of Fame

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    I like this.
     
    Last edited: Mar 1, 2020
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