financial planner?
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| Wed, 06-02-2010 - 12:31pm |
Hi, just found this board today. Have 3 kids, work PT (mostly weekends), husband works full time. Does anyone know how to go about finding a financial planner? I don't mean someone to help with investments or retirement, someone who can personally help you create a budget, tell you how to spend $$, cut costs, use a cash system? We are not in serious debt, but at the end of the month, we literally don't have any $$ to even buy gas. i have done a lot of research, prepared budget sheets, tracked our daily/monthly spending and have tried to convince my husband that he just spends too much of our income on non-necessities (i.e $45/month for Starbucks, $50 a month recently in LATE fees for video stores, $25-30/month taking the kids for ice cream). And then he wonders why we can't pay the phone, cable, gas, etc... on time. I have tried everything and he just won't listen to me. So I'm thinking if maybe a "professional" sat down and looked at our finances and advised us, he may listen. I would love for Suze Orman or that Dave guy to come to our house but I know that is not feasible. Any ideas how to find someone like this (besides the yellow pages)?
Also, how do you go about starting a cash system? For example, today is June 2nd. We have about $70 in our account, close to $500 of bills due, payday is not till June 4th, and it's my paycheck, which is about $450. So all of my pay has to go to bills, so there is no cash to set aside for groceries, gas, etc, and my husband doesn't get paid again till June 11th.
I am beside myself with worry about all this. I can't increase my hours at work without having to pay for daycare (2 of our children are toddlers), husband works 11am-8pm, gets home @ 8:30, so I can't find another PT job during the evening hours (i.e 6pm-10/11pm). I am just at a loss as to how to handle this situation. Any advice, thoughts, suggestions would be greatly appreciated.
Thanks,
T
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Hi! The concern I have about seeing someone is that they will be interested in selling you something rather than addressing your basic budgeting needs. That Dave guy (haha) has a book that answers all the questions you listed. It's called "The Total Money Makeover" by Dave Ramsey. A lot of the same info is on his web site, too, including budget forms and a description of the cash "envelope system". I hope you will get it from the library. It sounds like just what you're looking for.
Also, if you still want to see a planner, Dave Ramsey's web site has a section for "endorsed local providers" that he recommends and have to have shown they have the "heart of a teacher." I used one of the recommended real estate agents to sell my house last year and would do it again in a minute.
About 15 years ago, when Dh and I were preparing to buy our first house, we contacted our bank by phone and told them that we were thinking it was time to buy a house, and we wanted our finances to be in order so that we'd look good to any potential mortgage company we approached. They set up an appointment to meet with us, and they asked us to bring all our financial papers, bills, etc. They sat down with us, asked questions about whether either of us had child support (incoming or outgoing), legal judgements or any possible bills or added income that a person could have. Then they pulled our credit reports and told us that we had several accounts that were sitting inactive, such as jewelry store cards when we were dating, and they advised us to close those accounts, clean things up, and helped us set up a budget. Granted, the amount we had left over after bills, they *did* suggest several of their savings accounts/plans, but ultimately, they didn't push us when we said we'd need time to discuss and think about where we wanted the additional money to go in order to keep saving for a house.
Perhaps banks still offer this type of service? As busy as banks are, I'm pretty sure you would need to call and set up an appointment, rather than a walk-in type of visit, but it wouldn't hurt to ask. I know, at that point in our lives, it sure made us feel better when we walked in feeling stressed over our finances, and the banker smiled at us and said, "Really guys, it's not that bad." :-D
On the starbucks for your Dh, is he ordering something that can be made at home and taken with him from the house each morning? Or is it something more involved like one of those frappi-cappi-fancy drinks? :-D If it's something simple that you can make at home, perhaps you could buy some starbucks beans at the grocery store and make it at home in the morning? Another suggestion would be to request Starbucks gift cards whenever someone asks what Dh might want for a birthday, Father's Day, or holiday gift. :-) Or...maybe work with Dh to set a "Starbucks limit" and the two of you can purchase a Starbucks card in that amount. Refill it each week with his budgeted starbucks amount, and when it's gone, it's gone until the next payday. :-)
Good Luck to you! :-D
My bank offers a free program where a banker will help you with your finances.
"I know God will not give me more than I can handle, I just wish he wouldn't trust me so much!" Mother Theresa
Hi!