There has been a trend of late to distance oneself from the usage of the traditional budget. It usually starts like this: “You may find this hard to believe, but I don’t budget…” And then they go on to say why it is that they omit one of the most fundamental steps for financial success. Though my opinion may not be popular with some of my friends in the personal finance community, I just couldn’t keep quiet any longer. [Read more…]
There are so many examples of financial trash. Some people have a lot of it. Others might have little, but it might stink a lot more. Some people have their trash strewn all about, while others have it hidden. Some people are accumulating trash faster than they are able to get rid of it. [Read more…]
I’m generally not a fan of talking in terms of savings rates. There are just too many variables to make fair comparisons. I do, however, still urge people who qualify to take advantage of a foolproof method to save over 50% of their income. [Read more…]
I recently announced that I would start featuring some of the budget profiles submitted to my site, including those of fellow bloggers. For those of you who may be new to this site, I encourage others to bare their budgets so we can all benefit by seeing how everyone else is (or isn’t) making it.
It has been an eye opening and uplifting experience to feature other bloggers through interviewing them and posting their budgets. There is so much we have to learn from each other and so much we might never know if we didn’t ask.
We have have 3 young kids (all of them still younger than 8) and have followed some simple rules over the years that have helped us to save a bunch of money raising them. These rules must be common sense for many of you, but I have found that they are surprisingly foreign to some parents of young kids. [Read more…]
A baby that is. We are expecting a baby. Like a real live little person. But what’s one more, right? It’s only a 33% child increase. I’m trying to convince myself that it will all be fine. [Read more…]
This year marks the 10th anniversary of my dumb-phone-ness. And to celebrate, I am officially joining the 21st century with my recent purchase of the Moto X through Republic Wireless. [Read more…]
For the past two weeks I have been abstaining from processed sugar…and grains…and dairy…and legumes. I have passed over free brownies at work, I stuck with veggies at a work barbeque, and I have even stayed away from pizza (my favorite). It hasn’t been as painful as it might sound though.
It’s actually been a very eye-opening experience. I have more energy, I think I’m appreciating natural foods as God intended (who knew almond butter tasted so good!), and it’s helped me to be more disciplined in other areas of my life. [Read more…]
This week I am taking a break from my Featured Bare Budgets to introduce my first video!
Though I’m trying to brush up on my web programming skills, I am no where near being dangerous. I had some really simple web styling edits I needed done, so I was looking on fiverr for someone who could do a quick $5 job. And of course I got distracted and ended up browsing through all of the crazy things people are willing to do for $5.
I started looking at some sample explainer videos and instantly decided that I wanted to make one for BareBudgetGuy.com. So I wrote a 30 second script in 10 minutes, found a freelancer from Nigeria whose style I liked, and I invited her to accept my job. Just a few days and one revision later, I have my first video!
Not bad for less than $30!
Click the share icon on the top right of the video to pass it along on facebook or twitter!
I’ve gotten some really positive feedback on what I’m doing with the budget profiles and with incorporating free financial advice. I thought I’d explore some new avenues such as video to continue to build my audience.
Now I’m off to Las Vegas in a few days for work. Home sweet home! It just happens to coincide my dad’s retirement party, which is perfect. I’m sure I’ll have have some new thoughts on retirement by the time I get back, and I’ll be sure to share.
Today I welcome my lovely wife Amanda. She recently read an article about a woman who obtained the necessities in preparation for a baby for “only” a few thousand dollars. This led her to reflect on her own experience and whip out this insightful glimpse into how she did it for a few hundred…
Some say that everything you need for your first baby could cost you well over $5,000. Even the “frugal” plans I’ve read suggest about $1,000 as the bare minimum. I seemed to remember spending much less, but I wasn’t sure, so I decided to take a look to see if it’s really possible to prepare for a baby for under $500. [Read more…]
I was surprised by how many people used the “detailed” rather than the “simple” budget option. When I was starting this site, I had people tell me that no one would ever voluntarily submit their income & spending, let alone at a detailed level, so I am pleased! [Read more…]
As much as I love depressing myself by reading how much Pat Flynn makes every month, what I really want to know is how much normal people make (and spend).
People are always trying to gauge what they should be spending on groceries, restaurants, housing, clothes, etc. It’s even more difficult to figure when you account for geography and family size. What if you have 2 kids? What if you live in Los Angeles? What if you’re a single income family?
That’s when I had the idea to create a means by which people could bare their budgets—to post their income, spending, and net worth for others to see.
Who would want to do that? Well, you might after you finish reading this. [Read more…]
People evolve, and so should their budgets. I use the term “budget” loosely. It could apply to the type of budget you use, your budgeting habits, or the actual dollar amounts within your budget. As my circumstances have changed throughout my life, I have tried to improve my budgeting habits as well as to use more effective types of budgets, a few of which I shall discuss. [Read more…]
The main inspiration behind building this blog was my arguably nosy curiosity about other peoples’ personal finance lives in combination with my desire to help people with their finances. I built a tool to accomplish both of those things. You can bare your budget, and can ask me anything you want. You can see some of the questions I’ve answered here.
I can’t very well ask other people to put their finances out there without me being willing to do the same. This means sharing all of the normal financial stuff that you could probably guess anyway if you put some thought into it, like how much we spend on food, the cost of our kids breaking stuff, etc.
But along with all of that transparency comes the disclosure of something that is fairly personal. That thing, my friends, is tithing. [Read more…]
It is done. Finally. Or at least it will be within the next few days. We will have built our emergency fund up to the nice round number of $30,000. The general rule of thumb is to keep 3 to 6 month’s worth of living expenses on hand for emergencies or unexpected events. So much of our life has been focused on saving money and paying off debt, it’s different to now be thinking more about increasing retirement contributions, opening 529 plans for the kids, or just buying a bunch of useless stuff. (Note from wife: In other words, can we buy a couch yet? Is anyone with me? At what point do you/did you decide to start buying the “stuff” that you didn’t buy when you were in debt or working up a savings?) [Read more…]
Let’s go back to summer 2005. I had just finished my sophomore year of college. A friend convinced me to venture off to California to spend my summer vacation as a door-to-door salesman. For 6 days a week, we spent all of the daylight hours going from door…to door…to door…to door. So when 12 o’clock arrived every day, we were ready to spend some money on lunch! Because we deserved it darn it! [Read more…]
Most companies are for-profit entities, and unless you purposely try to break even or lose money every month, so are you. While large companies have finance departments whose sole purpose is to keep things financially on track, most of us only have ourselves. We are our own financial planning and analysis group. What if we budgeted our personal finances using the same process as a large company? That’s just what I’m going to do this year, and I’ll show you exactly how you can too. [Read more…]