Official Ladies Finance Thread

[CarmelBarbie]

I really like the tool on this website. Very simple and easy to use. The pie chart once you fill everything out really puts how much you spend each month into perspective. Definitely see myself using this tool in the future.

Me too.

Oan,

Do any of you have debt that your trying to get paid down? What sacrifices have you made financially to address it?

For me, I’ve been doing my own nails all summer, i haven’t went shopping for myself since May, only going to the salon once a month, and limiting how often I spend money eating out.

 

[Nicole0416_718_929_646212]

Me too.

Oan,

Do any of you have debt that your trying to get paid down? What sacrifices have you made financially to address it?

For me, I’ve been doing my own nails all summer, i haven’t went shopping for myself since May, only going to the salon once a month, and limiting how often I spend money eating out.

I do my own hair , brows and nails. Learned from watching hair dressers and youtube tutorials . Make up, and skincare - now that I have specific go to brands that I use,I order most of it online, it's cheaper, saves time. I take my daughter to get her hair professionally done, maintenance, wash, style every 2 weeks and do that in between wash and styles myself.

Then I have a blender, for home smoothies and things like that. Freeze the fruit - cut bananas, strawberries, etc so when I get up in the morning add the berries, fruit, yogurt ...there's a site that says ways you can cut back ..Ill find it and post. Little things like that can add up where ur not spending as much to eat out . There's a blog called mommy saves big - printable coupons - (even tho it says printable, they have all the online discount codes, free shipping codes, etc ) ill find it and post that

 

[Nicole0416_718_929_646212]

Here's some retail savings coupons for various clothing stores (Macy's, office depot, staples, etc) restaurants, groceries
Printable Coupons In Store (Retail & Grocery) - 2018

DealsPlus: Coupons and Promo Codes

31 Insanely Smart Ways To Save Money When You Cook

 

[CarmelBarbie]

I do my own hair , brows and nails. Learned from watching hair dressers and youtube tutorials . Make up, and skincare - now that I have specific go to brands that I use,I order most of it online, it's cheaper, saves time. I take my daughter to get her hair professionally done, maintenance, wash, style every 2 weeks and do that in between wash and styles myself.

Then I have a blender, for home smoothies and things like that. Freeze the fruit - cut bananas, strawberries, etc so when I get up in the morning add the berries, fruit, yogurt ...there's a site that says ways you can cut back ..Ill find it and post. Little things like that can add up where ur not spending as much to eat out . There's a blog called mommy saves big - printable coupons - (even tho it says printable, they have all the online discount codes, free shipping codes, etc ) ill find it and post that

These are some good tips.


I really need to jump on couponing too. I know so many people that do it. I probably should shop at Aldi’s too—I’m so boujie sometimes. But Harris teeter and publix are killing my pockets. Like when I think about how much I spend on groceries, I feel sick inside. Like really?

How old is your daughter?

 

[Nicole0416_718_929_646212]

" a successful budget helps you decide how to best spend your money while avoiding or reducing debt. NerdWallet recommends the 50/30/20 budget, which suggests that 50% of your income goes toward needs, 30% toward wants and 20% toward savings and debt repayment. "

Free Budget Worksheet - NerdWallet

 

[CarmelBarbie]

" a successful budget helps you decide how to best spend your money while avoiding or reducing debt. NerdWallet recommends the 50/30/20 budget, which suggests that 50% of your income goes toward needs, 30% toward wants and 20% toward savings and debt repayment. "

Free Budget Worksheet - NerdWallet

That’s so interesting. I actually would think that a higher percentage would go toward savings and repayments vs wants. But it makes sense—I can see that in the long term people would have a much more difficult time sacrificing their wants, to repay debt, and save. Everything in moderation.

 

[Black Cher]

One thing I like to do is buy a couple $200 gas gift cards at the beginning of the year to use throughout the year. That way I don’t have to budget in gas every month, it’s also a safety precaution because most people who end up with fraudulent charges on their card get them from using debit cards at the gas pump. I also only ask for prepaid gift cards or grocery store gift cards for Christmas. I still have a couple Trader Joe’s gift cards from last Christmas which come in handy.

 

[Shykai]

One thing I like to do is buy a couple $200 gas gift cards at the beginning of the year to use throughout the year. That way I don’t have to budget in gas every month, it’s also a safety precaution because most people who end up with fraudulent charges on their card get them from using debit cards at the gas pump. I also only ask for prepaid gift cards or grocery store gift cards for Christmas. I still have a couple Trader Joe’s gift cards from last Christmas which come in handy.

I never really how useful these were until I got one. Best present a person could give me really- apart from actual cash.

@Nicole0416 @CarmelBarbie Learning how to do my own hair has definitely definitely helped to cut back on costs, it's actually kind of mad. Also being on that natural hair wave, I used to buy all these expensive products and oils for my hair but I've come to realise there's really no need. There's no point spending €10+ on one bottle of conditioner/shampoo when you can get a more reasonably priced bottle that does the same trick.

 

[Black Cher]

Me too.

Oan,

Do any of you have debt that your trying to get paid down? What sacrifices have you made financially to address it?

For me, I’ve been doing my own nails all summer, i haven’t went shopping for myself since May, only going to the salon once a month, and limiting how often I spend money eating out.

I do my own hair , brows and nails. Learned from watching hair dressers and youtube tutorials . Make up, and skincare - now that I have specific go to brands that I use,I order most of it online, it's cheaper, saves time. I take my daughter to get her hair professionally done, maintenance, wash, style every 2 weeks and do that in between wash and styles myself.

Then I have a blender, for home smoothies and things like that. Freeze the fruit - cut bananas, strawberries, etc so when I get up in the morning add the berries, fruit, yogurt ...there's a site that says ways you can cut back ..Ill find it and post. Little things like that can add up where ur not spending as much to eat out . There's a blog called mommy saves big - printable coupons - (even tho it says printable, they have all the online discount codes, free shipping codes, etc ) ill find it and post that

I’ve been doing my own nails to save money as well. I like the look of fake nails but I don’t know how to do acrylics. Kiss nails has a new line of fake nails with an “acrylic” look at Walgreens for $7. I tried them out today and I like them so far, they look like salon acrylics. I just used some sally hansen polish and a top coat. Don’t mind the lack of neatness, I haven’t cleaned them up yet lol.

Spoiler

Depending on how long they stay on, I might make them a regular thing.

 

[CarmelBarbie]

I’ve been doing my own nails to save money as well. I like the look of fake nails but I don’t know how to do acrylics. Kiss nails has a new line of fake nails with an “acrylic” look at Walgreens for $7. I tried them out today and I like them so far, they look like salon acrylics. I just used some sally hansen polish and a top coat. Don’t mind the lack of neatness, I haven’t cleaned them up yet lol.

Spoiler

Depending on how long they stay on, I might make them a regular thing.

They look good sis, let me know how they hold up. I might try this too.

 

[Azul]

Great thread. If anyone has any questions related to purchasing a home or apartment feel free to ask.

 

[Black Cher]

Great thread. If anyone has any questions related to purchasing a home or apartment feel free to ask.

I’m not ready to buy a home just yet, idk if you would know this but I really like historic homes (120 years and older) and I’m curious about how a mortgage would work for them. Most historic homes need basic renovations just due to how old they are (new roof, floors, windows, electrical, etc) if I were to get a mortgage loan is it possible to bundle a renovation loan into the mortgage? Or would I have to do two separate loans or wait until I was eligible for HELOC? I know this probably depends on credit history and score but I’m curious if it’s possible.

 

[Azul]

I’m not ready to buy a home just yet, idk if you would know this but I really like historic homes (120 years and older) and I’m curious about how a mortgage would work for them. Most historic homes need basic renovations just due to how old they are (new roof, floors, windows, electrical, etc) if I were to get a mortgage loan is it possible to bundle a renovation loan into the mortgage? Or would I have to do two separate loans or wait until I was eligible for HELOC? I know this probably depends on credit history and score but I’m curious if it’s possible.

My dream home is a Brownstone (which I am currently on a waiting list for in Newark) so I know the feeling. Believe it or not, the historic homes usually have GREAT bones so it is usually a matter of updating plumbing, electric, roof, etc. If you're lucky, the previous owner took care of the major upgrades.

You do have renovation loans. I do not recommend a HELOC for someone new to ownership. You don't want to leverage a brand new home as collateral and you need to have a good amount of equity for a HELOC anyway.

There are FHA 203K loans and Home Improvement Loans by Fannie Mae which are loans that cover the home cost and renovation. Both require work to be done by a certified licensed contractor (you have to be VERY careful with whom you choose because quite a few will just jack up their prices ). Now about 203k loans. There are two types: Limited and Standard. If your repairs won't be more than 35k, you get the limited which is actually great because it is MUCH less paperwork. The standard requires a ton of paperwork and the hiring of a consultant to oversee the project. It is a pain in the ass, but worth it if you absolutely love the home and see the potential.

 

[Nicole0416_718_929_646212]

Beginners, consider these smart investments to watch your money grow.


https://money.usnews.com/money/personal-finance/articles/2018-07-06/how-to-invest-your-first-1000

And limited budget investment strategies:
https://money.usnews.com/money/pers...slideshows/9-ways-to-invest-on-a-small-budget

 

[Rawtid]

I failed at starting a business and my finances are in ruin. I prided myself in having great credit, paying bills on time, and working my budget. I even managed to pay off $20k in debt but just cutting back, so it was a VERY low blow to fail and sent me spiraling into depression. Things are turning around though and I’m speaking with someone about bankruptcy later today, so essentially trying to start over. I’m excited yet scared but at least I know the point I’m not going back to and what to do better going forward.

Same here. I’m terrible with saving.

Do any of you guys have a monthly budget that you adhere to at all times? When I did that a few years ago, I saved a lot, built back up my credit, and was in a great place financially compared to before—but as I started making more, I began spending more and after a few personal emergencies I ended up falling away from my budget. Since then I’ve definitely been in a cycle of overspending and not saving.

My budget is very thorough. It’s a spreadsheet and I do a new tab each year and forecast out for the year. I’m obsessed. It’s bad.