Friday, February 7, 2014
February 7 - Online Discussion Question 3
Holly agrees that it’s a great idea to give every dollar a name, and she does this every month, without fail. Holly writes down every penny she spends and enters it into a spread sheet. Then, at the end of the month, she looks at where her money has gone, and tries to figure out what went wrong. You tell her that’s not how a budget works. Holly insists it works for her, but she will at least listen to what you have to say. What are you going to tell her?
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you are not following what the budget says. make sure you are not overspending in one area and that you are accounting for every single item that you spend any money on.
ReplyDeletetravis
"Make sure you're keeping track of every single item that money is spent on, and be careful to manage the ATM and Debit cards."
ReplyDeleteAutumn
With a budget, you must write down where you money will go and direct it where to go. If you do, you'll have more control over your money. Without a budget you don't have control, thus losing your money a lot quicker.
ReplyDeleteJust figuring out what went wrong doesn't help she needs to fix that mistake. She not only needs to fix these things she needs to check to make sure that she has not missed putting something into the sheets or that something has slipped in without her knowing it
ReplyDeleteAdam
I would tell her that the best and most effective way to discipline yourself when it comes to spending is to spend your money on paper BEFORE you actually use it. She should use the categories just like she has been doing, but she should determine how much she will spend instead of writing down what she has spent. This will put some barriers on her habits and help her see where she is over or under spending.
ReplyDeleteShe needs to write down how much she makes a month and then figure out how much she should spend in all the different areas.
ReplyDeleteShe needs to write down how much she makes a month, then she should figure out how much she should spend in each category.
ReplyDeleteShe needs to give every dollar a job and then record it so she doesn't overspend in any of the categories.
ReplyDeleteInstead of keeping track of what she's spent through the month and then assessing how the money was spent, Holly should start her budget by first spending every dollar on paper and then following that plan throughout the month and then adjusting what she needs to at the beginning of the next month.
ReplyDeleteShe needs to command her money where to go, not ask it nicely and check on it later.
ReplyDeleteeyezik
She needs to tell her money what to do and not take it so lightly. Also she needs to tell her money what to do BEFORE she spends it, not after.
ReplyDeleteyou need to figure out where your money is going to go, not where it went. You need to plan where your money is going to go.
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