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The Thin Red Line

December 17th, 2007 at 03:11 pm

The Thin Red Line
otherwise known as
Today's Public Service Announcement




We interrupt your daily blog roll for this important PSA:

I replied to Paulette Goddard's blog posting on Money and Personality and I wanted to save the response here for posterity. Here goes. A few of the especially helpful book tips will be listed after this comment:

I replied:

"INFJ here.

I was just thinking around this topic last night. In my lifetime I have bought about three gajillion books on money and finance. Why did other people have it and what was my problem???

And I was trying to figure when it finally sunk in, what was the trigger? We started tracking $$'s w/Quicken which I soon found out that I hated, BUT, when seeing a piechart w/the TEE-TINY little red line that was our 'oochie' room in the budget AFTER credit card & car payments and being SHOCKED INTO REALITY, I decided something had to be done! Really it was an article on the web about making the savings literal when you get a discount. So what if you save 30 cents off your toilet tissue!! If you never save it LITERALLY, then it don't mean beans or retirement billions later! You have to LITERALLY DO SOMETHING!!

Many moons and lots of different budgeting / spending plans later, we now use youneedabudget.com and track like crazy. It works for us and that's important too, what works for you. Keep after it until you find the combination of tips and tricks that will help you get YOUR finances in order.

And figuring out that 10 cents HERE and $2.00 THERE really DO add up over time!! Also, finding SavingAdvice.com and all the great bloggers here, became an excellent resource and motivator to keep going.

Thanks for being here everyone! You never know which thing you share will be the eye-opener for the next guy."

LuxLiving's Pared Down Financial Reading List:

1)Richest Man in Babylon by George Clason. (Big Picture)
2)Your Money or Your Life by Joe Dominquez. (Focus)
3)Debt Proof Living by Mary Hunt. (How-To)
4)The Wealthy Barber by David Chilton (More Practical Help)
5)Automatic Millionaire by David Bach (for the understanding it gave me about how the 401-K means I have MORE money, not less!)

Many of these authors either have their own websites set up OR ones that are set up by their fans, well worth checking out!

My financial life turned around when I stopped worrying how to get rich and started focusing on how to save money and MAKE IT WORK FOR ME. A website that helped in those regards was the Invest in Your Debt one.

Here's hoping this reading list will help others get there quicker!

Thus ending today's PSA! Now, back to your regularly scheduled blogcast...

Posted in INFJ Ponderings | 9 Comments »

9 Responses to “The Thin Red Line”

  1. Ima saver Says:
    December 17th, 2007 at 03:58 pm 1197907089
    1197907089

    I read all those books, and they changed my life too. I realized that I would never make much money, but I sure could save as much as I could. And I do!

  2. Broken Arrow Says:
    December 17th, 2007 at 04:08 pm 1197907684
    1197907684

    Hehe, I actually have a post on that in my draft as well, because I think she's really on to something. But I don't know if it'll gel into an entry or not. We'll see.

  3. luxliving Says:
    December 17th, 2007 at 04:23 pm 1197908603
    1197908603

    Yes Ima these books can literally be turn around points. I just wanted to mention to people that you can get all of these books thru your local library at no cost!!

    B.A., I thought it funny that the first few of us replying to Paulette were of the "I" category off of Myers-Briggs! Look forward to reading your further musing.

  4. Aleta Says:
    December 17th, 2007 at 04:27 pm 1197908855
    1197908855

    I have read every book you mentioned except Debt Proof Living. I was waiting for the newer up-to-date version in the library to come in.

    Totally agree with you about saving and not spending the savings. I had been wondering if my newspaper was worth its subscription so, I started using the smart source coupons or any other coupons that the grocery had printed in the paper. I started saving the money to the side and was quite surprised how much I had saved. So, after I found SavingAdvice.com, I understood Jeffrey's principal about the savings challenge. I have a separate account just for that challenge and I have a goal for it. So, I understand what you're saying and reminding us to just to start saving and get in the habit of it instead of trying to be rich.

  5. luxliving Says:
    December 17th, 2007 at 04:44 pm 1197909849
    1197909849

    Yes, thank you Aleta, that was what I was trying to say!!

    I call what we do now ANTICIPATORY BUDGETING. I don't think I ever read that term anywhere, but maybe it's original to me. Anyway, that is what works for us. It's all those expected BUT FORGOTTEN budget items that are killers. If you can get out in front of them, then you can be good to go.

    Also another decent financial guru comes to mind and that is Dave Ramsey. I've never read a bunch of his stuff, but from what little I have read I like as he gives specific steps to TAKE.

    Another resource for you that are just beginning this LIFETIME JOURNEY that looked very helpful but I've never used is at budgetmap.com.

  6. Broken Arrow Says:
    December 17th, 2007 at 04:53 pm 1197910392
    1197910392

    Yeah, I'm definitely introverted. It's just the way I am, but seeing as you are one as well, you understand, right? Just can't be helped. It wasn't something I chose, and it's still something I am coming to grips with. It's always been like that ever since I was young.

  7. luxliving Says:
    December 17th, 2007 at 05:06 pm 1197911206
    1197911206

    Yes, BA, me too, a lifetime. The old 'Silence is Golden' flag is often waved for all to see and notice!

    Here's perhaps a helpful book...

    Why Should Extroverts Make All The Money!

    http://www.amazon.com/Why-Should-Extroverts-Make-Money/dp/0809297876/ref=sr_1_1?ie=UTF8&s=books&qid=1197910866&sr=8-1

    Not sure, haven't read it myself, but I like the title.

  8. Aleta Says:
    December 17th, 2007 at 05:22 pm 1197912138
    1197912138

    Lux Living: One of the thoughts that Dave Ramsey says is that you have to tell your money where to go instead of it telling you where it will go. That is also a good definition of a spending plan. Like you, I set out a plan for 4 or 5 weeks of the month and adjust it accordingly. I have some goof off money in case something is a little bit more than I expected. Like you said, planning for the unexpected is key to securing your future savings.

  9. luxliving Says:
    December 18th, 2007 at 01:56 pm 1197986203
    1197986203

    Right Aleta. I have been frugal all of my life and was so slow that I couldn't figure out why THAT ALONE did not equate to my having any money. Why the thin red line? If we never literally put aside those savings into a savings or investment vehicle they just got dribbed and drabbed away into other things.

    It is the combination for me of assigning our money a job, watching over it like a foreman, and then making sure I anticipate all of our expenses, plan ahead for them, and literally save for them. It isn't just about making money as Ima so clearly shows us. It's what you save that counts.

    We are slowly inching our way up to putting away 50% of all our earnings. Now don't everyone cringe. We are CLOSE to retirement and did not save as we should have when younger. We are taking drastic steps now as to have even a SMALL retirement! EEEEK!!

    Turn back and go the other way you young'ens! SAVE EARLY AND OFTEN for Retirement!!

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