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 Use "Every Few Months" Edit: Never mind, you're talking about a single transaction not a budget. (Use a budget)
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May 22, 2015 17:20
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I hate that too, the best thing i've seen is a 'hide from budget' to prevent my monthly income graph from looking all wonky when I buy something I've been saving for several months for
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May 22, 2015 17:25
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Yeah i think I've been using mint poorly all these years; I never even touch the budget button. is it worth loving with? I usually determined my spending by looking at the trend for a year per month. 
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May 22, 2015 17:26
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I use Mint purely to track my transactions and YNAB for actually budgeting. I find Mint to be way too clunky.
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May 22, 2015 17:39
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Expensed items and bonuses are a misery on Mint as well.
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May 22, 2015 18:32
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For expense-able items I mark them with a "expense" Tag and then hide it from all my reports. When I get reimbursed for the expense I mark that payment as an expense as well so it all nets out to zero. Only way I could figure that one out.
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May 22, 2015 18:42
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Foma posted:Look at this budget noob putting yearly expenses in monthly. It's bi-annual actually (yes, my property taxes are nearly the size of the mortgage payments). Mint sets it up correctly as described by simble, but the trends view doesn't care about that.
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May 22, 2015 18:43
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I use Toshl for tracking expenses, it syncs well with the mobile app. Mint doesn't really work too hot if you're overseas.
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May 23, 2015 02:31
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Minty Swagger posted:For expense-able items I mark them with a "expense" Tag and then hide it from all my reports. When I get reimbursed for the expense I mark that payment as an expense as well so it all nets out to zero. Only way I could figure that one out. TFW you come back from a business trip with like 50 expensed items on your card and have to individually tag every one of them on Mint
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May 23, 2015 21:08
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BEHOLD: MY CAPE posted:TFW you come back from a business trip with like 50 expensed items on your card and have to individually tag every one of them on Mint Just put them all on one card and bulk select all of that card's transactions. It's easy in my case, since I have a special corporate card that basically means I don't get the rewards points for my business expenses.
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May 23, 2015 21:33
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BEHOLD: MY CAPE posted:TFW you come back from a business trip with like 50 expensed items on your card and have to individually tag every one of them on Mint This doesn't sound especially onerous at all.
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May 23, 2015 23:14
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BEHOLD: MY CAPE posted:TFW you come back from a business trip with like 50 expensed items on your card and have to individually tag every one of them on Mint There is a select multiple option so it's not too bad!
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May 24, 2015 01:08
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baquerd posted:Just put them all on one card and bulk select all of that card's transactions. It's easy in my case, since I have a special corporate card that basically means I don't get the rewards points for my business expenses. That seems like a bad deal. I got a free flight to Montreal last year thanks to work expense reward points.
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May 24, 2015 04:11
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Pompous Rhombus posted:I use Toshl for tracking expenses, it syncs well with the mobile app. Mint doesn't really work too hot if you're overseas.
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May 24, 2015 17:30
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Being a parent, I really liked MMM's most recent post. Specifically this part really spoke to me, especially since I have an Asian tiger mom and I grew up in and currently live in the bay area:quote:Higher Education, Performance, and Stress:
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May 24, 2015 17:47
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Cicero posted:Being a parent, I really liked MMM's most recent post. Specifically this part really spoke to me, especially since I have an Asian tiger mom and I grew up in and currently live in the bay area: I liked parts of it, but as always, he fucks it up by pontificating too much, specifically this bit: quote:Income is not something that employers or the government ration out to you based on a rigged system. It is a something you generate yourself. It is the byproduct of your hard work, combined with learning and mastering the system itself. Even the system itself is subject to your control if you choose. The vast majority of jobs and financial opportunities actually are a rigged system. My son (and MMM's) will have the benefit of avoiding crushing poverty, but that was through his parent's luck. I wish MMM would drop the idea that it's all a meritocracy and realize that his advice is for the people (that for whatever reason) have middle/higher incomes. I also think he waited a bit late to introduce money, it says age six or so. I read recently that most kids learn all they know about money before age 7, most likely through watching their parent's spending habits (so his kid is off to a good start there too), but I think kids can handle using money before 6.
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May 25, 2015 11:04
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poopinmymouth posted:I liked parts of it, but as always, he fucks it up by pontificating too much, specifically this bit: I can't think of a reason to hide knowledge of money from them.
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May 25, 2015 13:08
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Regarding multi-month spending in a single transaction, what I do is split the transaction using the Split function in Mint. You can then span a transaction across as many months as you need. It's a pain in the rear end, and fairly spergy, but it's worth it for me because I give up pretty easily if I don't have all my holes plugged when I'm doing something. Especially something financial. The worst part is you can only set the date of a transaction to three months into the future for some stupid ungodly reason. So for a yearly transaction you have to constantly be pushing the remaining split-transactions ahead every three months. Also note that your "Transactions" tab will now be cluttered with all these future split-transactions, but to avoid that from being a nuisance you can use the smartphone App that only shows current/historical transactions via Recent Transactions, or use the net income bar chart at the bottom of the Overview page.  Clicking the green bar for a corresponding month, such as the current month, will only show transactions for that month. It's become a regular routine for me to log into Mint, check that bar chart to see if I'm on track for the month, and then I click the bar for the current month to see why or why not. Rick Rickshaw fucked around with this message at 13:21 on May 25, 2015 |
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May 25, 2015 13:19
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tuyop posted:I can't think of a reason to hide knowledge of money from them. My husband and I are trying at the moment and we've talked about this. Both of our parents hid finances from us so we both had a painful growth period as young adults. Our plan is to have the kids sit with us for our weekly budget meetings, and if they want something we show them how we have to plan for it. The main point where we differ (and maybe you guys can shed some light) is that he thinks it's detrimental to let the kids know our income. His dad always hid how much money his family has from him, he didn't know that they were rich until sometime in college. He feels like this gave him a much more normal childhood (as normal as it can be when your dad sends you to a boarding school in Europe for rich kids) and grounded him into not becoming an rear end in a top hat. I disagree, I think transparency and talking frankly about how lucky they are and talking about where we sit on the income curve will give them a frame of reference. I'm not sure which one of us is right, and I definitely don't know how to argue my side without it turning into a huge fight because he is pretty firmly planted on his.
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May 25, 2015 13:25
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Rurutia posted:My husband and I are trying at the moment and we've talked about this. Both of our parents hid finances from us so we both had a painful growth period as young adults. Our plan is to have the kids sit with us for our weekly budget meetings, and if they want something we show them how we have to plan for it. Telling your kids your income and costs in raw numbers is equal to giving them ample leverage for when they make demands if they have even the slightest talent for math. That's is a lot of pain and suffering that you can avoid by obscufating.
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May 25, 2015 14:39
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Don't forget that young children tend to be blabbermouths. I wouldn't tell anything to anyone under 8 that I wouldn't be comfortable with them blurting out to other kids or the neighbors.
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May 25, 2015 14:59
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Yeah maybe worry more about the part of the budget that impacts them specifically? Like keep it to groceries/toys/entertainment/clothes/school supplies and whatnot.
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May 25, 2015 15:05
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I question how open MMM actually is in terms of his overall wealth. I'm not accusing him of being misleading in that article, but I think he doesn't tell his son all of the details about the family's income/assets. He talks about the concept of money, not their money. On a podcast MMM was on about a year ago he was asked what he does about saving for his child's college education, and he responded by saying that he doesn't have to worry about that since he has more than enough in savings to cover many college educations, but he would never tell his son that, for that would create a spoiled rich kid with no drive.
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May 25, 2015 15:24
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Rick Rickshaw posted:On a podcast MMM was on about a year ago he was asked what he does about saving for his child's college education, and he responded by saying that he doesn't have to worry about that since he has more than enough in savings to cover many college educations, but he would never tell his son that, for that would create a spoiled rich kid with no drive. Hmm, hope the kid never learns to Google!
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May 25, 2015 15:35
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I'm not talking about knowledge of your family finances, that's a very different kind of thing. I can think of reasons why people hide that, just not very good ones. (Oh they might know we're wealthy and I'll lose my "affordability" scapegoat and have to teach self control! Oh the neighbours might know some budgeting info and I'll have to teach my child about manners and self control!) I thought the topic was knowledge of money. As in, here is money, here is a bank account, here is how you use online banking, here is how interest works. I can't think of any reason to keep that from your child other than the fact that they have no interest, which would be strange.
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May 25, 2015 15:57
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Because that's something that takes 5 minutes to explain (if it even needs to be).
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May 25, 2015 16:03
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Harry posted:Because that's something that takes 5 minutes to explain (if it even needs to be). Edit: Oh, I see what you're saying. You'd somehow hide knowledge of money because it's complicated and may not need to be explained at that level until your kid is older! What is? Knowledge of money as a thing? I mean, it's not such a blatantly simple subject because the relationship between money, desire, delayed gratification, and the philosophies that change your perspective on all things related to money should all be interrogated more or less explicitly with your kid, in my opinion. Is money a holder of value? Utility? Freedom? How does all that even work? If it were so easy as to require no planned education, we would be a much different society. Like, take a simple question that might come up if you tell your kid to save money, "why would the bank pay me interest?" A possible response: "Well, the bank can make more money off of your money than you can by letting companies use it to buy new buildings and stuff, so they give you a cut." Which begs the follow up, "So why wouldn't I just give my money to companies for that?" Which is much more complicated because now you have to explain corporations, stocks, bonds, risk and reward, the whole mess, which are all nested in more assumptions and philosophies. I mean, what if your kid asks you if the bank ever gives (your child's) money to bad people to do bad things? tuyop fucked around with this message at 16:39 on May 25, 2015 |
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May 25, 2015 16:34
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Harry posted:Because that's something that takes 5 minutes to explain (if it even needs to be). I know more adults than I am willing to count that have lived their lives without ever figuring out even the rudimentary parts of the financial world.
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May 25, 2015 16:40
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Xoidanor posted:I know more adults than I am willing to count that have lived their lives without ever figuring out even the rudimentary parts of the financial world. A ridiculous part of the population still believes that if you make more money and you get into a new tax bracket, you lose more. That and combined with... CHECK OUT MY MASSIVE TAX REFUNNDDDDD.
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May 25, 2015 17:11
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poopinmymouth posted:The vast majority of jobs and financial opportunities actually are a rigged system. My son (and MMM's) will have the benefit of avoiding crushing poverty, but that was through his parent's luck. I wish MMM would drop the idea that it's all a meritocracy and realize that his advice is for the people (that for whatever reason) have middle/higher incomes. I agree that the majority of the system is indeed rigged and luck plays a good part in being in the position to potentially become financially independent in the first place. However, (hopefully?) he's not preaching to the choir, but instead to people who have the potential for FI but haven't made the lifestyle changes necessary. Maybe telling people it's a meritocracy could actually be a convenient lie, because it eliminates most of the excuses the middle/higher income people could use to not do it. To close out a long-time tangent from the early days of this thread (like, first few pages if I remember), I am eternally grateful for the ACA. My new insurance premium quotes are less than 1/10th what they used to be pre-ACA, so I can finally afford to do this. Yay for no more PECs! I'm cutting down spending right now and building up for an end-of-day-job transition early next year. I'll still be running my side business because I love doing it, but it's different when you WANT to do something, versus HAVE to do something. 
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May 25, 2015 17:16
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Full-time job with a decent wage is definitely a barrier which can be difficult to climb these days but most of his target group (above 30 males with families) should statically find themselves on the other side of that huddle.
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May 25, 2015 17:55
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TLG James posted:A ridiculous part of the population still believes that if you make more money and you get into a new tax bracket, you lose more. That said, there are deduction/avoidance/benefits phaseouts for various items as you go up beyond specific earnings ceilings, e.g. the main "poverty line", saver's credit, traditional IRA deduction, Roth IRA contribution capability, or becoming a highly compensated employee in your company. There are ways to mitigate many of them, but sometimes that means getting more creative.
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May 25, 2015 18:18
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poopinmymouth posted:The vast majority of jobs and financial opportunities actually are a rigged system. My son (and MMM's) will have the benefit of avoiding crushing poverty, but that was through his parent's luck. I wish MMM would drop the idea that it's all a meritocracy and realize that his advice is for the people (that for whatever reason) have middle/higher incomes.
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May 25, 2015 22:59
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TLG James posted:A ridiculous part of the population still believes that if you make more money and you get into a new tax bracket, you lose more. My coworkers managed a majority vote for a no-strings-attached blanket pay cut for our entire department for this very loving reason almost a year ago. And then everyone (including a lot of the same people) started quitting because we weren't getting paid enough.
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May 25, 2015 23:04
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Cicero posted:Good point, we should tell our kids, "The game is rigged, whatever career you end up with is because of luck and the nature of the system." Why didn't I think of this before?? While you shouldn't tell your kid that it's hopeless, you shouldn't bullshit them about it either. Let them know that some career paths are going to lead to more money, and going for that Philosophy degree isn't a great idea for most people. Note: I don't have a kid so ignore me.
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May 25, 2015 23:17
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I had my own piggy bank and could count all of my money when I was 5. Kids vacuum up information and you can't stop them from learning. I figured out how banks worked when I was about 7 (the conventional understanding rather than today's practices). For answering kid's questions you can just answer the immediate question. If that keeps them happy that's all that's needed, rather than an economics lecture.
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May 25, 2015 23:38
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Cicero posted:Good point, we should tell our kids, "The game is rigged, whatever career you end up with is because of luck and the nature of the system." Why didn't I think of this before?? You don't see a problem in teaching a kid that it's all up to your own effort, in a system with gross inequality?
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May 26, 2015 00:23
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It's probably good enough to compare it to getting sick. Some people are more likely to get sick than others, not their fault. Some people who are very sick can do amazing things despite it, while some people who only get a little sick sometimes are big babies about it. We should probably still help sick people, just like we should still help poor people!
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May 26, 2015 00:39
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poopinmymouth posted:You don't see a problem in teaching a kid that it's all up to your own effort, in a system with gross inequality? Just play this for the kid and teach him/her to embrace it as a life motto, and 'gross inequality' ceases to matter. https://www.youtube.com/watch?v=JU9TouRnO84
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May 26, 2015 00:56
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Inept posted:While you shouldn't tell your kid that it's hopeless, you shouldn't bullshit them about it either. Let them know that some career paths are going to lead to more money, and going for that Philosophy degree isn't a great idea for most people. poopinmymouth posted:You don't see a problem in teaching a kid that it's all up to your own effort, in a system with gross inequality? What home you grow up in is obviously down to luck, and some people are struck by uncontrollable tragedy or other cruel twists of fate. But then again, tons of people are also down financially just due to poor career choices, bad financial discipline, and other decisions that are entirely within their control. tuyop posted:It's probably good enough to compare it to getting sick. Some people are more likely to get sick than others, not their fault. Some people who are very sick can do amazing things despite it, while some people who only get a little sick sometimes are big babies about it. We should probably still help sick people, just like we should still help poor people!
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May 26, 2015 01:22
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