Hi, new member, wondering about financial systems
Posted: Sat Sep 04, 2010 8:36 pm
I'm a new member, but a long-time reader of the web-page and listener to the podcasts. (I mistyped that as 'podcats' which reminds me that I like how occasionally during podcasts a cat will make itself known<g>.)
Ever since I stopped eating much in the way of starch and sugar, long before I came across No-S, I've had little problem being disciplined on the diet front. But money is another thing - I'm surprised there isn't more here on that topic. I think I've read most of what there is, and some of it is useful, but mostly it's things which I have tried and haven't become automatic enough to work long term.
The one that comes closest to a real Everyday System is probably cash-only - draw it out and when it's gone, it's gone. But one problem I find is that I'm shopping for a family; if I blow the budget by overspending on something non-vital, I can't just say 'tough, we don't eat until the 14th'. When I was single, I could live on porridge for a week or so if I had to.
I've got a really good little app on my ipod touch which lets me record spending against budgeted items for a given period and gives a red, amber or green traffic light to new spending. That's worked well for a few months, but recording just hasn't become automatic; I forget too often, especially things like Kindle purchases, even though the thing hangs round my neck and is much easier and gives better feedback than pencil and paper. And once I have forgotten to record a few spends, the whole thing goes out of control.
I think the recording is the bit that doesn't work well, which in No-S terms is what you'd expect. I'm thinking of perhaps just doing a very simple system of making myself check my bank online system once a day and write down the total. That feels like an onerous thing, but actually it would take like 5 mins? I could still use the app to break things down and understand where the weak points were, but if I missed stuff it would be flagged when I checked the bank account. The app wouldn't be part of the system. The system would just be - check the bank and know where you are. Quite like the cash-only in that you would be able to see the money disappear, but with cash I'm quite capable of forgetting I already took cash out this week. Plus, if I gained nothing else, at least I would know how bad things were before the end of the month which is normally when I screw my eyes up and peep at the bad news.
What do you think? Anyone come up with a good name for it? I was thinking of Quick Fix or Bottom Line but they don't have the element of humour.
Ever since I stopped eating much in the way of starch and sugar, long before I came across No-S, I've had little problem being disciplined on the diet front. But money is another thing - I'm surprised there isn't more here on that topic. I think I've read most of what there is, and some of it is useful, but mostly it's things which I have tried and haven't become automatic enough to work long term.
The one that comes closest to a real Everyday System is probably cash-only - draw it out and when it's gone, it's gone. But one problem I find is that I'm shopping for a family; if I blow the budget by overspending on something non-vital, I can't just say 'tough, we don't eat until the 14th'. When I was single, I could live on porridge for a week or so if I had to.
I've got a really good little app on my ipod touch which lets me record spending against budgeted items for a given period and gives a red, amber or green traffic light to new spending. That's worked well for a few months, but recording just hasn't become automatic; I forget too often, especially things like Kindle purchases, even though the thing hangs round my neck and is much easier and gives better feedback than pencil and paper. And once I have forgotten to record a few spends, the whole thing goes out of control.
I think the recording is the bit that doesn't work well, which in No-S terms is what you'd expect. I'm thinking of perhaps just doing a very simple system of making myself check my bank online system once a day and write down the total. That feels like an onerous thing, but actually it would take like 5 mins? I could still use the app to break things down and understand where the weak points were, but if I missed stuff it would be flagged when I checked the bank account. The app wouldn't be part of the system. The system would just be - check the bank and know where you are. Quite like the cash-only in that you would be able to see the money disappear, but with cash I'm quite capable of forgetting I already took cash out this week. Plus, if I gained nothing else, at least I would know how bad things were before the end of the month which is normally when I screw my eyes up and peep at the bad news.
What do you think? Anyone come up with a good name for it? I was thinking of Quick Fix or Bottom Line but they don't have the element of humour.