2016 controlled Spend/ No Spend

[ses]

Here we are in a new year!

[ses]

A few months back Honeylioness had an impassioned plea to get us back to the focus of our thread. The fundamentals. The basics. Plus the friendship. Did y'all know we've successfully planned vacations together? Life keeps on going with new babies, relationships, homes, challenges, jobs and financial hurdles but we stick to it. So, get sticky!



Here are some way to get your goals to stick:



#1. Post your numbers - just put it at the top of a post in bold and let us know how you're doin' and what you need help with

#2. Track your numbers - technically this should be #1 but you know it. If you need ideas for tracking post and ask the veterans for guidance

#3. Share your life but please keep it somewhat financially related - we know that everything influences finances especially when we're stressed, tired, excited and busy. BUT this is a financial accountability group, not a therapy session If you want to go off topic consider starting a fresh thread and posting a link so those who are interested can support you there.



For the new people there are no real set rules here, you set your own. The basic goal most if not all of us have are to keep track of the days we don't spend and hopefully by that work on saving money. Some are looking to put it into savings others to pay down debt.



For some they only count the day as a no spend day if they spend nothing at all. Others will count it if they keep their total under $5. Some count all spending others only count a certain part of their budget. For example MittenKitten personally take $400 out of the the bank in cash for everything that is not related to vehicle expenses (like gas, oil changes, insurance etc) or the house (mortgage, utilities, HOA) If I spend out of the $400 I count it as a spend day (although if it is less then $5 I usually count it as a no spend day.) You set your own rules. Any questions feel free to ask.



You can post your no spend days daily or whenever you want, just put it in bold at the top with the first number being the number you want me to record. If you are doing daily then:

Today (or yesterday) $0 Spend day



More then one day at a time:

4/31 days $0 Spend Which translates into 4 out of 31 days in July have been no spend so far. Some use the bigger number as their goal number so do 4/15 No spend Days which means they have a goal of 15 no spend days this month.

[ses]

So sorry it took me so long to get this years' thread up and running.  I think I am just ashamed of getting off track so badly and embarrassed to own up to it even to myself.  I will try to cut and past this years posts and add a notice of the new thread.  I am glad to see so many newbies.

 This is a process that really does work.  I plan to crawl back on the wagon and get things worked out again. I have been on this thread since 2008 and gained a lot, so I know I can do it again,

[ses]

3catslady

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Reply #193 posted Dec 31, 2015 at 11:36am QuotelikePost Options Post by 3catslady on Dec 31, 2015 at 11:36am

3catslady: 20 NSD, 11 CSD, 0 eating out days.



I did good but I want more.



ses, are you going to start the new thread for the year? I am going to set weekly goals and see how that works. My plans are to get groceries on Sunday, do laundry on Sunday and pay the bills on the 1st of the month and then when the electric is due. I don't want to buy during the week unless it is with my "cash allowance". What I don't spend for the week goes in my bank book and the change goes in my blue teapot. That means I have to clean it out tonight so it is empty for tomorrow. I am also going to transfer to savings any left over monies, yeah right, to my savings account and get that built up.

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moneysquirrel

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Reply #194 posted Jan 1, 2016 at 10:54am QuotelikePost Options Post by moneysquirrel on Jan 1, 2016 at 10:54am

December Final Update: 17 NSDs and 9 CSDs.





I was doing OK this month until I realized that AT&T was eliminating their 2 year contract plans. That is usually how I save when I need a new phone. Since my phone was almost 5 years old and beginning to have some issues I visited them yesterday and got a new phone with the two year contract. Figured that if I waietted for spring as I intended it would cost me about $400 more. With my luck my old one would break the day after the 2 year contract was eliminated.



I have purchased a few clothing items this month as I need to update my wardrobe some. Still need a few items but they can wait.



I went back through the thread and figured out my yearly totals:

2015 Totals: 241 NSDs and 80 CSDs which means that I only spent on 44 days. Regular expenses - groceries, gas, utilities, planned items do not count in my totals.



I think that I will join the organize/declutter group this year. I work really well from a list. That will keep me accountable.

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We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored. But if one saves what he should prudently spend, that is not necessarily to be commended. A wise balance between the two is the desired end. ~Owen Young





attitude21

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Reply #195 posted Jan 2, 2016 at 6:18pm QuotelikePost Options Post by attitude21 on Jan 2, 2016 at 6:18pm

Hi all...



I am in. this is first time. By reading all the posts I think I understand the basic concept is controlled spending.



Our goal first 6 mos of year is to pay as much possible on debt that we want paid. So spouse and I talked and we came up with 6 mos plan.

We plan to live lean... and make do with what we have. We had planned on doing some painting... but decided it can wait.

So goal next 6 mos is any extra money goes to the debt. Focus on work, health...wellness.... Paying down debt and maintaining 401k is main focus. Our plan is to try to cook frugally.... and hone our skills in that area. We are both on board... so it will be fun to see what progress we can make.



So far...

1/1 NSD

1/2.... I did buy 13.00 of half price stuff at walgreens.....bubble bath and a a little make up.... half off from xmas.... not planned so I juess that means Spend?

I take controlled spend to be things you know you have to pay for or regular expenses, etc. 1/2 regular grocery shopping so that is CDS correct?



I also joined the organize /declutter group. This is great and look forward to it.

Yes, it is nice to be back in the groove.





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moneysquirrel

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Reply #196 posted Jan 3, 2016 at 8:16pm QuotelikePost Options Post by moneysquirrel on Jan 3, 2016 at 8:16pm

January Update: 2 NSDs 0 CSDs



attitude21 - Welcome. I think SES will be starting a 2016 thread soon but I plan to continue posting here until she does. This is a process and all of us have fallen many times in this journey. We have found that writing down where we spend allows us to see where our budget leakages are. After a while we have plugged those holes. Also you will hear a little voice asking if it is a need or a want.



Ask if you have any questions. I usually am not on here daily -- life happens but I try to check in at least weekly. I do not count budgeted items -- groceries, gas, monthly bills,etc. -- those are a required spending for me. The extra items that jump in the basket turns the ns day into a spend one.

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We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored. But if one saves what he should prudently spend, that is not necessarily to be commended. A wise balance between the two is the desired end. ~Owen Young





Together again

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Reply #197 posted Jan 6, 2016 at 11:49pm QuotelikePost Options Post by Together again on Jan 6, 2016 at 11:49pm

Husband retired from a high income job. Though we have excellent savings and more then enough to

live on we are going to be living on about a 1/3 of what he made. When you get a certain lifestyle

going that can get difficult. We have no debt, rarely did. Our fixed expenses aren't that high but our

discretionary spending was whatever we wanted basically. We always saved first but when you have

an excellent salary its easy to do it all. We really need to think about what we are spending a bit more

now. I should have done it before now but we didn't. We expected the project to continue and he go

on the next section until next August and it didn't happen. Like I said we will be fine but we do need

to think twice about some purchases now that we didn't before.





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Blonde Granny

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Reply #198 posted Jan 7, 2016 at 7:33am Together again likes this. QuotelikePost Options Post by Blonde Granny on Jan 7, 2016 at 7:33am

Oh the joys of YNAB. A simple entry into the "check register" part of YNAB has a way of staring you in the face when it shows you the total amount you have spent month to date.



Discretionary spending was whatever we wanted it to be each month until I decided it was time to get serious. Each month I was taking funds from savings accounts to pay credit card bills or to fudge the spending. I finally tired of all that, and sat DH down and gave him the bitter truth. We were spending each month more that we were receiving as income. And I don't mean to point blame, but most of it was a case of me wanting to see to it that DH bought what he wanted when he wanted it.



In hindsight I'm happy I was able to handle the over spending, but I am happy it's over.



As for NSD, I currently have 3 and haven't gone out to eat for 1 week. I also contacted Uverse and lowered the monthly bill from $289/mo to $ 220. And my Verizon bill has been lowered from $112 to $47. This past month my weekly grocery bill has not been higher that $32/week.



Now I'm beginning to get nervous over the 2015 taxes. I've contacted my tax attorney and will likely get news I don't want to hear, not only for 2015 but what I need to do for 2016. Married filing jointly has now gone to widowed & filing single.

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wvugurl26

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Reply #199 posted Jan 7, 2016 at 7:39am via Tapatalk QuotelikePost Options Post by wvugurl26 on Jan 7, 2016 at 7:39am

It's been some time since my grandpa died and I did those returns but I think you get to claim something in 2015. Now for 2016 it would be widowed and single. The attorney should know though. The CPA my grandma went to was an idiot and I had to fix those returns but that was 2008 so my memory is sketchy.

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Blonde Granny

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Reply #200 posted Jan 7, 2016 at 7:49am QuotelikePost Options Post by Blonde Granny on Jan 7, 2016 at 7:49am

At least my tax attorney is a good friend, if he gives me bad news I can holler and swear at him.



Thanks WVG, that info gives a little bit of hope for this 2015. Curious if I will have to move some investments into some tax free things.

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Together again

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Reply #201 posted Jan 9, 2016 at 7:16am QuotelikePost Options Post by Together again on Jan 9, 2016 at 7:16am

I think we will hear bad tax news for 2015 also, we generally end up paying at least $12,000 more in federal taxes then was deducted, hubbies last

bonus will all go for taxes. I pray its not more. He kept trying to get them to take more each month so we wouldn't owe, I guess they just didn't

get it.



We know we are going to spend more then we take in too so one reason hubby is wanting to add rentals, but here I don't

think its a good base to draw from. I think we will spend a lot of money, get little return, and have trouble selling them.

I may have him talked out of buying his grandmas place. The income from the land barely pays the taxes and whats the

point? The house makes some profit but would need work to rent it for more. If we get enough off it to buy out SIL's half

of his moms house I won't say anything. We are going to pay $4000 for the 1997 mobile home. It's in very good condition

and at the back half of MIL's lot. Don't mind paying that, we will relocate a carport from the house to the trailer. I'm also

hoping the money from his grandma's house will pay for fixing this one so we aren't pulling money out of the bank. It

may be an easy rental once we get the cosmetics done. But he agrees it likely needs the bathroom including walls redone,

hardwood floor refinished, new kitchen, living room, and bedrooms need new flooring. Kitchen, we don't know the cabinets

are built in place and sturdy, but I don't know what we could do with the shelves, I told him maybe buy that formica type

paneling and glue inside after they are scrubbed with TSP to get the grease off them. They are pretty grungy. Also the

design is very poor.



So we will have a remodel in town of the rental we bought, a remodel at MIL's house, and some work in the mobile. I'm

tired thinking about it. This would give us enough income after expenses to not have to draw money out of principal. We

might live a lot of years yet.

Last Edit: Jan 9, 2016 at 8:43am by Together again - Back to Top

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Reply #202 posted Jan 9, 2016 at 2:05pm QuotelikePost Options Post by Together again on Jan 9, 2016 at 2:05pm

Just got notices our part B will be double the premiums because of our income last year.

The SS lady said to call her if that happened that when its a lifechanging even like retirement

they don't do that. Here's hoping. I told hubby pretty soon I will have to pay them as my SS

check will be gone!!

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moneysquirrel

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Reply #203 posted Jan 9, 2016 at 5:48pm QuotelikePost Options Post by moneysquirrel on Jan 9, 2016 at 5:48pm

January Update: 7NSDs and 1 CSD



Back at school and long days which translates into no time to shop. My numbers are always better when I am in school.





Blonde Granny -- I don't know what the rules are now but when I lost my DH @ ten years ago, taxes for married for the year of his death. Since then filed as single (which I never think is a good label for me).







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We are not to judge thrift solely by the test of saving or spending. If one spends what he should prudently save, that certainly is to be deplored. But if one saves what he should prudently spend, that is not necessarily to be commended. A wise balance between the two is the desired end. ~Owen Young

[moneysquirrel]

January Update: 12 NSDs and 2 CSDs

SES -- Thanks for starting the 2016 thread.  

HAve things to do so will try to update more this weekend.

[3catslady]

3catslady; 8 NSD, 9 CSD, 0 eating out days.

I have to do better the rest of the month.

[moneysquirrel]

January Update: 13 NSDs and 2 CSDs
This weekend was one of spending - lunch out, extra items at grocery and at cvs.  Hope this week will be more NS days but I have to pick up something for school in the morning so therefore I am counting it as a spend in advance.

[Blonde Granny]

I've lost track of no spend days, but I kept the car in the garage this past Saturday & Sunday, and ate all meals at home. In fact, my budgeted amount for eating out is $50/mo. So far I've spent $16. It's not that I'm forcing myself to eat at home, but after spending upwards of $300/mo to satisfy the eating out demands of DH every day, I simply have no desire to do so.

Another goal is to only use 2 tanks of gas each month. I have a 26 gal. tank and the mfg. recommends premium gas. I'm using the mid-grade instead and see no difference in mpg or power. I've budgeted $75/mo, but not sure I'll reach that goal.

My allowance for food is $200/mo and so far I've spent $91.  It's surprising to me how meals from the freezer and pantry cut the grocery bill.

My biggest goal is to live on SS and eventual VA compensation each month, take dividends/interest if needed, but to keep my fingers OFF the investments.

[Blonde Granny]

If you want to do your budgeting correctly Pat, groceries, eating out, pet supplies and other items I forgot about all need to have their own line item. You simply can't get your handle on budgeting by throwing everything into one pot.

[3catslady]

3catslady:  16 NSD, 11 CSD, 0 eating out days


Getting better but still need to improve.  I should only be spending on the first of the month, and every Sunday.  That should be only 5 days or 6 when there are 5 weeks.  I forgot the electric is a spend day so that would be 6 or 7 days, not this 11 to 15 days I've had.  I have to get better at controlling my "wants" like donuts, brownies and beer.

[ses]

SES  21 NSD 9 CSD


Before I post about my efforts this month I want to say that I spoke with Moneysquirrrel earlier this week and learned her mother passed away Wednesday morning.  She may not be posting much but I am sure she will be reading and keeping informed.  


I have my 2016 spread sheet up and running, finally, and so far this month I am doing well.  I had house guests 1/17-1/21 which affected my grocery budget some, but not as much as I expected.  As Blond Granny also noticed it is amazing how eating at home from the pantry and freezer can reduce your grocery expenses.  It also feels good to see so much more space in the freezer.  I don't know how the pantry will look, tidying it is tomorrows task.

Monday I will fill the gas tank, but it will be a very nice surprise.  I only drove 29.6 miles this month.  I guess all the snow and ice this month was good for something.  With the streets so icy it is real easy to stay home.  

[3catslady]

3catslady:  17 NSD, 14 CSD, 0 eating out days.

Sorry to hear about Moneysquirrel's mother.  Prayers and hugs are going her way.

[Blonde Granny]

I seem to have lost my January 2016 YNAB budget. I was trying to delete all the previous budgets that I had, but I certainly didn't know that one was gone. As best as I can remember, my fuel bill was just over $100 for the month, and groceries came in well under the $200 budget. I did buy a new summer top yesterday that was on sale for 50% off @ $25, but my clothing budget hasn't been touched in months.

So, tomorrow starts a new YNAB with correct SS and VA income finally settled. I was telling my neighbor last night about all this and even that I will have more income than budgeted expenses.....mentioned that I could "spend it".....she replied " don't you go spending it". She's 1.5 years old than me, so I guess I'll listen to her.

[Blonde Granny]

Pat, you need to budget for Federal and state quarterly tax payments that you will now need to make.  They are due in April, June, Sept & by January, all are due by the 15th of that month.  There is a penalty that the IRS can asses for not making the quarterly payments. 

If your DH was a contract employee you may be already making those payments, just wanted to be sure you knew about doing it.

[Blonde Granny]

I breakdown mine c=budget with the following categories:

MONTHY BILLS

ADT

Electricity

Personal escrow

My Mothers phone

Molly Maid Cleaning Service

Natural Gas

Uverse TV, phone, internet

Verizon cell

Water

EVERYDAY EXPENSES

Clothes

Computers

Entertainment

Gas for car

Groceries

Hair

Home Maintenance

Household Goods (TP, paper towels, foil, plastic wrap etc).

Lawn care

Misc.

Personal Products (shampoo, dusting powder etc.)

Restaurants

HOBBIES

Sewing

Crafts

MEDICAL

RXs

Medical Other (bandaids, disinfectant, Aspirin etc)

I took a few categories out after DH died, as I don't take the newspaper, and I don't buy magazines like he did.  I was also able to reduce monthly spending significantly too.

[Blonde Granny]

Look at your federal and state return from last year and see how much you paid in taxes to each. Divide by 4 and that is the amount you will need to pay this year.

[wvugurl26]

Feb 1, 2016 12:07:43 GMT -5 Blonde Granny said:

Look at your federal and state return from last year and see how much you paid in taxes to each. Divide by 4 and that is the amount you will need to pay this year.

I'm pretty sure their income is taking a massive nosedive now that he's retired? They'd have a safe harbor though. I remember it being pretty complex with him working overseas. There may have been things there that don't apply anymore. But yes they should set up SS to deduct taxes, any RMDs, etc. I would pay attention to state too. That has tripped up several of my relatives before.

[Blonde Granny]

Saturday, Sunday and Monday (yesterday) were NSD and I can also add no driving days either. Today I have no reason to spend any money, but I need to take my car to the dealer for a door adjustment so that will be about 30 miles r/t.

I haven't bought any gas since Jan. 18 and I still have 1/2 tank.....yea me!!!

[moneysquirrel]

January Final Update: 21 NSDs and 5 CSDs  to the best of my memory

February Update: 5NSDs as of now

The last few weeks have been extremely stressing.  Just trying to keep my head above water.  

[moneysquirrel]

Update: 12 NSDs and 1 CSD
Spent most of my off week doing house work and catching up with school work.  No idea what today will bring as I plan to run errands.

[3catslady]

3catslady:  15 NSD, 6 CSD, 0 eating out days.

I counted today as a CSD because I am getting groceries and doing laundry.

[ses]

My sympathies to those of you east of me who are still getting blasted with winter weather.  It is so unseasonably warm here some trees are trying to bud out.  I am getting antsy reading the seed catalogs knowing no way, no how can I get out and do anything.  I have planned and designed my garden many times over the past couple of weeks.  Some of it is do-able some not, unless I can find the supplies I need.

Last weekend some friends took me to the city to dine out for Valentine's Day and a stop at Lowe's to get the supplies to make 6 self watering planters.  I like spending $13.17 for supplies for six planters rather than $140 each for six.  I figure I saved about $825.  Of course, I still need to get the paint that will make them look like $140. 

As I have said before, cold weather helps me spend less.  As it warms I really need to be aware of my pennies.

[moneysquirrel]

Update: 18 NSDs and 1 CSDs
Been busy with school and life and that keeps me out of stores.  Will need to do a major grocery run soon but am currently eating items out of the freezer/pantry.  

[moneysquirrel]

Final February Update -- 26 NSDs and 2 CSDs
Another busy week both last week as well as this week.  Things are hectic now but it helps being busy. 

[moneysquirrel]

March Update: 4 NSDs and 1 CSDs
I had and will have another busy week coming up.  At least being busy keeps my numbers high.

[moneysquirrel]

Update: 10 NSDs and 3 CSDs 


School have been keeping me busy and the weather has been bad so I have spent a lot of time at home. 

[ses]

My computer really died!!! I have ordered a new one but I will not get it until after Easter. I hope I can figure out how to use it.  I am using my Kindle for now.  Thank God for emergency funds and new toys funds.  So much for having an inexpensive month-- a new computer and a long journey for my nephews wedding.  I will have to really buckle down in April.

[moneysquirrel]

Update: NSDs 14 CSDs 5
Continuing to keep busy.  Have a few items to purchase prior to the rise of the state sales tax on April 1.  These have been on the list for a while and will be needed soon so will be bought by the end of the month.  At least one of the items will be purchased with a GC so not everything will be out of pocket.  Also have to place an order this week as I need certain items to complete some beading projects.  Have at least three spring craft shows coming up.  So for the rest of the month my numbers will not be so high.  

[moneysquirrel]

Update : 17 NSDs and 6 CSDs

Picked up a few items that have been on my list for a while but also picked a few other items.  Some of the things were purchased on sale and with a GC so not so much came out of pocket. Tons  of things to do this week.  Some additional shopping to get done before the sales tax increase goes in effect on 4/1.

[ses]

Got back from the wedding, it was lovely.  I am down to using my Kindle for everything, I am slow and awkward. ----Just talked to my computer guru and he thinks he can retrieve my files from my desktop computer and maybe even revive it!   However, I am glad I went ahead and ordered a new laptop.  It should arrive today. I hope I am smart enough to figure it out.
Financially speaking I have done pretty well this year. even paid cash for all of the wedding expenses and travel.  I feel good about that, but looking ahead I see a new water heater,  a new mattress and probably a TV replacement. This is going to be an expensive year!!!
Sounds like all of you have been doing a good job staying on the straight and narrow and being financially responsible.

UPS was just here and left a new laptop!!!!!!!!