Q&A: Need advice on personal finance / budget setup…pay yourself first approach.?

Posted by Admin on August 31st, 2011

Question by Al Kessel: Need advice on personal finance / budget setup…pay yourself first approach.?
All,

My wife and I have our checks direct deposited. We’re maxing our 401K’s and maxing IRA’s with our bonus money. We have several accounts setup for online savings to match up with various lines in our budget…i.e. vacation is one savings account that is funded on a monthly basis from our main online checking account.

I think the last piece of the puzzle is getting one account with a debit card for myself and another for my wife. We would fund these weekly for any $ we would spend during the week. All other bill type money would come out of the other accounts. I figure this would be the last step to make sure there are no surprises.

Is anyone else using this approach?…if the $ isn’t in the debit account, we won’t spend it.

Best answer:

Answer by The Professor
Sounds like you have everything under control. Put the last piece of the puzzle in place (and yes, many people handle funds this way).

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advice on personal finance management software?

Posted by Admin on August 31st, 2011

Question by Enrico T: advice on personal finance management software?
I’m looking for software that’ll help me keep track of my spending. I’ve tried AceMoney, GnuCash and HomeBank but none of those really suit what I’m looking for. Mint and Quicken look awesome, but Mint is not available in my country (Philippines), and from the videos on their site, Quicken looks like it’s tied to your bank account, and I don’t know how compatible it’d be (if at all) with Philippine banks. I’d prefer an online service, as my computers are not really secure, I need one that will not only allow me to keep track of daily/monthly expenditures but also keep track of the money I lend to people (with or without interest). The ability to create graphs to show spending over a period of time, multiple currency support and support for investments like stocks, t-bills, bonds, options, etc would be nice too. Any suggestions?

Best answer:

Answer by Max T.
Hi ,
take a look here, it may help: OrgFinances
(from Binary House)

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Why do I have to wait 2 months to receive my refund financal aid?

Posted by Admin on August 31st, 2011

Question by Tamera Friar: Why do I have to wait 2 months to receive my refund financal aid?

Best answer:

Answer by Judy
That would be a question to ask whoever you’ll be getting the refund from. Nobody here is going to know.

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HELP!!! I need to pay for college and I am not eligible for any type of financal aid I have really bad credit?

Posted by Admin on August 31st, 2011

Question by taiwanna20: HELP!!! I need to pay for college and I am not eligible for any type of financal aid I have really bad credit?
HELP!!! I need to pay for college and I am not eligible for any type of financal aid and I have really bad credit. Any type of help really soon is greatly needed. HELP!!!!!!!!

Best answer:

Answer by batcattj
You may be able to get a college loan anyway, it’s just going to have a really high interest rate.

Find a job. It sucks to work through college, but a lot of people just have to do it. Many colleges offer payment plans, like you pay 1/3 of your tuition each month for the first three months of the semester.

The only other options I can think of won’t help you with Spring Semester, but they might help you down the road…

Look for jobs in your area that offer tuition reimbursement. Large companies usually do no matter what position you work in.

Apply for scholarships. They have ones based on everything - your major, your ethnicity, your activities, etc.

good luck and keep trying - you’re awesome for doing everything you can to stay in college!!!

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Q&A: Need advice on personal finance situation?

Posted by Admin on August 31st, 2011

Question by John Sullivan: Need advice on personal finance situation?
If anyone can share their financial wisdom with me, I would help me immensely.
My wife and I are in a very tough spot, like a lot of people at the moment. We are currently unemployed, though that could change soon. We owe the MA DOR and the Feds a total of about 10 k in tax debt, about 9 k in credit card debt. 5 k in medical bills, 3 k in collections, and I have a couple of 500.00 pay day loans that I make monthly payments of 130 on. Then we owe 7 k to people who loaned us money in tough times. We are behind on everything. I have been seeking out the chapter 13 BK idea, but we do not have the up-front money for the attorney fees. Is chapter 13 the best idea for us?? Nobody does undecured debt consolidation loans anymore, especially with our credit in tough shape. We rent, so no equity. We just want to gain financial peace and have a plan of action, we cant afford to hire anyone though. Thanks for your inputs, I welcome all advice.

Best answer:

Answer by MVD34
Talk to a real credit counselor — which will be free.

To find a legitimate counselor, contact the National Foundation for Credit Counseling at NFCC.org or call 1-800-388-2227.

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Can you get financal aid for online high schools?

Posted by Admin on August 31st, 2011

Question by Kristina: Can you get financal aid for online high schools?
I want to finish my schooling up but it so expesive and i found some online highschools but can you get aid if you sign up for these school?

Best answer:

Answer by JulieM
I don’t think you can get financial aid for attending high school. The state expect you to attend your designated high school in your school district.

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Q&A: Personal finance question. Advice about real estate and renting.?

Posted by Admin on August 31st, 2011

Question by aimhigh1184: Personal finance question. Advice about real estate and renting.?
I got accepted into a Physician Assistant Program for Undergraduate. I know that they make about 80-100k if I go into surgery. I would be 23 when I get my BS and Masters in Physician Assistant. I am thinking of saving money for two years and buy a two family house in my area for about 500-600k, since two family houses are expensive and get money off the rent when I am 25. Then I would use my previous house which my parents would give to me and convert this to a two family house and make a profit since the rent income would be higher than the mortgage(this is for the first house). But I am actually wondering more about buying my second house. I want to gain lots of money off the rent from my two houses so that I could buy a luxurious one family house when I turn about 32 after saving lots of money and then living a nice life. What do you think? Please give me any advice. Remember, I really want to use real estate as a big asset to me. Thanks.

Best answer:

Answer by larry h
first,, you have a good plan,,second ,, you need better advice than your going to get in here ,,set down with your bank and ask the same question of their financial advisers ,,they are the ones that will be handling the money for you

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What are the terms and conditions for financal aid for married men with families?

Posted by Admin on August 31st, 2011

Question by coolmom: What are the terms and conditions for financal aid for married men with families?
Do married men with families even qualify for aid? If so, how and what forms are needed?

Best answer:

Answer by CarlaCCC
Depends on what aid you are going for. All programs have different limitations and qualifications.

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Q&A: how do i figure out when i willl get my financal aid check?

Posted by Admin on August 31st, 2011

Question by LostMystic: how do i figure out when i willl get my financal aid check?
i was sappose to pay for this term on the 12 but i have a slight problem…i have no spare money and my financal aid check has no come yet. how do i find out when i will get it?

Best answer:

Answer by anissia b
call your student loan provider, these checks usually start coming about 4 -5 weeks after the term starts.

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