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Goals, Priorities and Budgets

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Talking About Our Goals

Sarah and I were having a chat the other day regarding our financial goals which inspired me to write about the importance of goals in making financial choices.  There is also a difference between a financial goal and financial priorities.  The terms GOALS and BUDGET get misused quite frequently.  Too often, priorities don’t match up with either which is where you can run into problems with satisfaction in your life.

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Patching The Cords: A Budget Exercise

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Revisiting our Entertainment Budget

Nearly a year ago I put up a blog post about cutting our telecommunications bills in an effort to free up some monthly cash flow.  At the time we didn’t mention the specific reason.  Cutting the cords on our cable and slashing down our other telecommunications bills was part of a larger effort to revamp our budget for a new income situation.  I had received a working notice at my job and by the end of 2016 we were looking at potentially going down to 1 income.  Luckily in January I found another job and managed to avoid any interruption in income.  The new job was outside my industry, and ended up lasting only a couple of months.  I managed to get another job fairly quickly, this time in my industry and only missed 1 pay period.

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Why I Don’t Care About a Monthly Budget

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Monthly BudgetIt is common to see personal finance bloggers share a monthly budget. This is usually done for one of a few reasons.  Motivation for themselves and their readers or for transparency on what they are spending.  I think for a lot of people they are very helpful and motivational for either the writer or the reader.  It’s also cool to take a look at what other people are spending in different categories.  Not that we encourage judgement on what other people spend their money on, because we don’t, however it is interesting to see what people spend just as a gut check to your spending. You won’t see a monthly budget here because we don’t focus on our budget like that.

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How Living on One Income Made Me Re-Think Our Money

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Living On One IncomeWe have mentioned a couple of times but Scott was let go from his job last year. He got a working notice which was basically means that he was told the last day he had a job.  He got the notice in May of 2016 and his last date was December 31st.  As Scott mentioned here we took some active steps to help prepare ourselves if in fact he was not going to be able to get a job after his last day.  The most drastic step we took was moving to one income as of August, 5 months before he would have lost his job.  Living on one income taught me more than I ever thought it would.

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Budgeting on a Commission

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A Few Ideas on How to Budget When Your Salary is Commission-Based

There are a few different ways to receive payment for work performed; you can be an hourly employee, working on a fixed salary, completing a project for a contracted amount, or working for a percentage of the sales you make (AKA Commission).  There can also have a combination of these methods of payment – you can work on a salary up to a certain amount of hours and then qualify for overtime at an hourly rate.  An employee can have a base salary and get a commission for sales.  Generally speaking you wouldn’t have both a salary and a contract payment but almost any other combination is possible.  I recently started in a position with a sales role.  While I’ve been in sales in one way, shape or form before, this was my first foray into a pay structure that involved commission.  I have a base salary, but the question came up – how do you budget for commission?
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Why Being Money Nerds Makes Us Happy

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Time For a Money Nerd-Out!

Ever since before we got married Sarah and I have been money nerds.  When we launched Couple of Sense  we had an outlet (besides each other) to talk about money.  This outlet lets you read into the inner money dork in us, our concepts and habits that really drive our voice.  We may not be completely unique in our dweebing out (1st paragraph and I already have used three variations of nerd).  What is important to us in our budget is analytics.  In order to have pertinent stats, we need to gather data.  This is where we really rev our engines.
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How To Make Budget Decisions

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Budget DecisionsMaking Budget Decisions

When was the last time you made budget decisions? Changing your budget is important. A good budget makes a difference between financial success and crisis.  This isn’t just making sure your extra money is moved into the right investment vehicles.  This could also be dealing with a loss of income or other financial setbacks.

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A Delicious Balsamic Salary Reduction

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Our Recipe for Successfully Losing an Income

In a previous post, I provided some insight into a big change in Sarah and I’s financial world.  In 2016 I was given a working notice for the job I had been at for the past decade.  This meant that we had to prepare for the possibility of going down to one income for 2017.  It was a scary situation.  Sarah and I have had comparable salaries for several years.  We both considered ourselves lucky to have solid incomes. We had worked really hard to get to where we were.  The potential loss of my pay meant that we’d have to prepare to cut our expenditures in half. Read more

Why It Is Perfectly Normal To Stress About Money

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Money Stress – The Human Reaction

Money can be a huge source of stress; that is a truth that is very hard to get away from.  Money causes fights, can split up couples and can truly make or break you.  Having a budget is a great way to reduce the stress about money.  Even with a budget, if something goes wrong inevitably that will lead to stress.  But money hasn’t always existed so why is it a natural reaction to get stressed out when money gets tight?  Why does logic escape us leaving us fighting back freak outs and dealing with migraines?  I have a theory.

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Adulting 101 – You Can Do More Than You Think

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adultingAdulting 101

I lived at home until we got married.  After I got married and moved out the first 6 months were rough. Like super rough. It was difficult to work 50 hours a week, cook, do laundry and keep our tiny basement apartment looking presentable.  Cleaning the apartment always lost BTW.  It looked presentable but I’m very lucky that people had to call us before they could come over since there was no direct access to our apartment from the outside.  We basically perfected the 5 minute clean up.  But I did struggle with the basics of adulting even though Scott had lived on his own for over 4 years before I moved in.

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