Speaking of Money

Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Speaking of Money
928
Sat, 03-02-2013 - 3:33pm

Here is a SAHM who takes careful budgeting to new heights. It must, of course, be noted that since her DH is military, the family is probably covered in terms of health insurance. 

http://finance.yahoo.com/news/how-a-family-of-four-manages-to-live-well-on-just--14-000-per-year-174803218.html

"Wagasky, 28, lives with her her husband, Jason, 31, and their two young children in a three-bedroom family home in Las Vegas, Nevada. While Jason, a member of the U.S. Army, completes his undergraduate studies, the family's only source of income is the $14,000 annual cost of living allowance he receives under the G.I. Bill. Despite all odds, the family has barely any credit card debt, no car payment, and no mortgage to speak of."

[...]

"By the time Wagasky's husband came home from Iraq, they had managed to scrape together the $30,000 they needed for a downpayment on a home. 


"But we decided the best option would be not to have a mortgage payment at all," she said. "We found a fixer-upper that didn't have a kitchen ... and we paid cash." "

Pages

iVillage Member
Registered: 03-26-2009
Wed, 03-06-2013 - 10:35am
It sounds like your parenting ideas are about the same so you can probably go by what they say. I believe in kids being kids and while saying no (seems like most of the time lol), I also believe in raising them and supporting them financially until they are out of my house (for their main expenses but I am sure I will be still buying them things when they are older too as I am still their mom). I believe in them working to help out but don't believe they need to pay for all their expenses. I still have the old school idea of if I was charging my child rent in my home, I would keep all of it (or at least the majority of it) in a savings account to give to them when they move out. These parents would not.
iVillage Member
Registered: 11-14-2011
Wed, 03-06-2013 - 10:35am
Allowing your teenager to do whatever she wants, whenever she wants isn't the same thing as letting her be a kid.
iVillage Member
Registered: 10-23-2001
Wed, 03-06-2013 - 10:34am
$60.00 of gas was put in my tank this morning, No problem here either. I thought you walked or took the bus...

 


 


iVillage Member
Registered: 03-26-2009
Wed, 03-06-2013 - 10:31am
Peachy-saving money on gas and wear and tear on your car is the relevancy.
iVillage Member
Registered: 03-26-2009
Wed, 03-06-2013 - 10:31am
I don't know as I don't have my old budget from almost 6 years ago lol. We have also had to deal with the recession but also the benefit of 6 years of raises.
iVillage Member
Registered: 11-14-2011
Wed, 03-06-2013 - 10:30am
What do you mean "letting children be children. I can do that with less children."? That doesn't even make sense.
iVillage Member
Registered: 12-07-2003
Wed, 03-06-2013 - 10:30am

coconutshrimp wrote:
I believe in letting children be children and experience as much as they can. I can do that with less children, not moving as often, changing schools as often, changing jobs as often. I DO say no but DO know that life can not be 100% planned.

Of course everything can't be 100% plan, but if your plan is to always be surprised by unexpected expenses, instead of planning for costs associated with children's activities and building a buffer for those kinds of things into a budget, it's no wonder you have no idea how much you are spending for them.

iVillage Member
Registered: 03-26-2009
Wed, 03-06-2013 - 10:29am
I guess you were lucky Puss that you never got last minute requests from your son or school or activities. I am learning to roll with the punches and that while yes, sometimes it is the child that forgets, it is many times more that it is last minute requests from the teachers or coaches. Life happens and things DO come up last minute. My teenager always has something going on which is great as it keeps her busy and is always doing something with one friend or another. Sleepovers are always last minute, many bday parties and get togethers are too. This is how teenagers are. I am allowing my kids to be kids while still teaching them right from wrong. I know I am doing a great job as my teenager is proving it with the activities she chooses to the friends she hangs out with and what she does and does not do.
iVillage Member
Registered: 10-23-2001
Wed, 03-06-2013 - 10:27am

coconutshrimp wrote:
I actually enjoy NOT having things planned Savcal. I am not good with change but learning that I really have no choice as the kids get older. lol.

That's great, I'm a schedule fanatic, Lol but that's probably b/c it's always changing and I'm always writing down what the kids have going on to what I have going on to what DH is doing and when, etc. etc.

 


 


iVillage Member
Registered: 12-07-2003
Wed, 03-06-2013 - 10:26am
Considering Puss has a grown son, and SavCal has two kids about the same age as your kids, and Peachy has kids older than mine and they all think that children's expenses can be planned for, I think I'll listen to them. It doesn't take a rocket scientist to spend a few months adding up all of those "unexpected" expenses and creating a budget category for them.

Pages