• 3 Posts
  • 6 Comments
Joined 1 year ago
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Cake day: August 10th, 2023

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  • Controversial take - no budget. Split income into 3 or more buckets - savings, critical bills (rent, utilities, debt, etc), and discretionary. I manage as separate accounts.

    Spend discretionary freely and enjoy the peace or mind that your financial future is secured by the first 2 buckets. If you run low, rice and beans til next paycheck.

    No need to track coffee expenditures, you'll realize during rice and beans week that you can make it at home.

    Your mileage may vary.



  • I think a community like this should have two goals:

    1. Be on the fairly cutting edge of personal finance topics like saavy tips for current credit cards, tax codes, retirement plans, and retail promotions that help people maximize their money and plan for futures.

    2. Maintain resources for basic financial literacy. IMO these are best done as sidebar items since they don't change much day to day, but they are critical for bringing in new members and frankly helping people since most schools don't do it.

    I do think part of #2 is letting people ask dumb questions (What do I do now?), but only if their situation is not obviously covered in the sidebar. As sidebar grows, these should become less frequent.