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So basically you have 317.50 budgeted for savings as opposed to 297? What am I missing here
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Dec 15, 2014 19:09
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Yea my original math must have been off by 20$ somewhere? and even then, its 10$ off compared to YNAB...i'm a bit confused where my math just now ended up off by 10 more...
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Dec 15, 2014 19:11
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Veskit posted:Is this budget for the month of december, or as of this moment in time it's impossibly hard to tell. Especially with a 30 dollar restaurant budget... This is as of this very moment/today. For the rest of the month of december. Hence why there is no mortgage amount specified(since that was paid already on 12/1 right?)
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Dec 15, 2014 19:12
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DogsCantBudget posted:This is as of this very moment/today. For the rest of the month of december. Hence why there is no mortgage amount specified(since that was paid already on 12/1 right?) This is the correct way to YNAB.
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Dec 15, 2014 19:14
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Knyteguy posted:This is the correct way to YNAB.
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Dec 15, 2014 19:14
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DogsCantBudget posted:Why 3 months? I thought April 15th was 4 months away. Dude, budgeting money to spend next month is not the same as saving money. If you spend it... you have not saved it. What are you saying, that the paychecks you have coming in will all be saved completely? No, they will be spent next month. That is not savings. Holy crap, I don't think I've ever seen someone this deluded about money since my last boss who insisted that a 100% profit margin doesn't make you any money "because you have to buy another item to restock".
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Dec 15, 2014 19:18
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You should break out your Rainy day funds at least, and be realistic about your numbers. 30 dollars in restaurants isn't happening. I mean, if that's your budget and your mentality on money there's a lot of work to do, but you can start there.
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Dec 15, 2014 19:20
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moana posted:If you think one month's difference is going to affect your ability to save 10k... I honestly don't know what the hell. I think you just failed to realize that I bring home 10k a month. If over the next 4 months I can save 1/4th of that per month(which I was going to originally throw at debt), this should be no problem. Where in my head is my math wrong? Veskit posted:You should break out your Rainy day funds at least, and be realistic about your numbers. 30 dollars in restaurants isn't happening. I mean, if that's your budget and your mentality on money there's a lot of work to do, but you can start there. I agree, I'll do that when I get home, I put that together in ~10 minutes at work. I doubt 30$ will actually work, but I will try my damnedest to make it work. Wife and I will have a discussion today about it. We've also decided to lose weight together(we realized on our vacation we've both gotten a bit tubby). Which means, we need to eat out way less then we do. Eating out is generally significantly less healthy. We're also going to start jogging around the neighborhood, which makes a nearly perfect 1/2mile figure eight/loop. C25K or some such I guess. DogsCantBudget fucked around with this message at 19:28 on Dec 15, 2014 |
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Dec 15, 2014 19:24
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quote:(and some we couldn't avoid like luggage fees for a checked bag x2, which I had forgotten about, gently caress you United, gently caress you very much)(I figured the first carry on should be free, no?) quote:some we couldn't avoid quote:I had forgotten about quote:I figured I absolutely agree with this: quote:- Group up hobbies, travel, entertainment, etc into a "blow" category. You and wifey each get your own blow money for the month. For example, you each get $400 to blow per month. If you want to take a vacation that costs $800 then you need to save up two months of blow to take the vacation. If you want a $1200 RC helicopter, you need to save up 3 months of blow. And so on.
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Dec 15, 2014 19:30
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DogsCantBudget posted:I think you just failed to realize that I bring home 10k a month. If over the next 4 months I can save 1/4th of that per month(which I was going to originally throw at debt), this should be no problem. Where in my head is my math wrong?
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Dec 15, 2014 19:30
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My Rhythmic Crotch posted:Your math is way wrong from what I can see. You're telling us this month you will "save" $2500 when in reality it's $317.50 I corrected that number to 2k. You still haven't taken into account the incoming 1700$ paycheck from my wife on Wednesday/Thursday(depends when bank processes it)
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Dec 15, 2014 19:32
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My Rhythmic Crotch posted:Your math is way wrong from what I can see. You're telling us this month you will "save" $2500 when in reality it's $317.50 He's saying december he'll save 2500, even though at this moment in time he's saved 317.50. That isn't a december projection, it's December finances at that moment in time, 12/15/2014. Also dogs don't forget to allocate all your dollars when you get home.
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Dec 15, 2014 19:33
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Okay, that's good to know I was missing that. So that entire $1700 has been earmarked for savings and DCBWife doesn't have any manis, pedis, Coach bags or anything she wants out of that? Cool if so.
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Dec 15, 2014 19:42
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My Rhythmic Crotch posted:Okay, that's good to know I was missing that. She's not that kind of person...and if she did have a mani/pedi in mind(which she doesnt), we already have money earmarked for that... Also Coach is out...too heavily marketed...the last purses she bought were at a second hand store and were Burberry(and even then way less then what they were worth). I'm so over Coach/MichaelKors brands....feels like they are too popular to be truly awesome anymore...
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Dec 15, 2014 19:43
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DogsCantBudget posted:She's not that kind of person...and if she did have a mani/pedi in mind(which she doesnt), we already have money earmarked for that... Where?
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Dec 15, 2014 19:44
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Veskit posted:Where? There is, in fact, 60$ in her "pedicure" bucket in Cap360 account... I haven't put any of that into YNAB yet, because I don't want to budget for something that I am not planning on using yet. I'm also keeping those accounts out of YNAB for now to avoid confusion...
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Dec 15, 2014 19:46
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DogsCantBudget posted:I think you just failed to realize that I bring home 10k a month. If over the next 4 months I can save 1/4th of that per month(which I was going to originally throw at debt), this should be no problem. Where in my head is my math wrong? Stop calling things savings when it is not savings. Savings is money you don't HAVE to touch in the next year or ten. It's money you're putting away for your future self, that you never HAVE to spend. It's not owed to anybody else. It's yours. Right now you don't have "yours" money. You have money that is owed to a bunch of people, and you're not paying them back right away. God, no wonder this thread is so confusing.
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Dec 15, 2014 19:48
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moana posted:So you're not going to pay down debt, instead you're going to put the money on the side to pay down IRS debt that you will owe in the future. That's not savings. That's money you owe being set aside so you can pay off your debt to the IRS. You're not saving it. It's earmarked to go to someone who is not you. If I didn't pay any estimated taxes to the IRS, I wouldn't go around yelling that I have tens of thousands in extra savings for the next few months, whee! No, that money is owed to someone else. You're telling me that saving for an upcoming expense(whether in 4 months or in 40 years) is not savings? You should reevaluate. This is Short Term savings. Retirement, etc is Long Term Savings Nor would I say that I have tons of extra money for the next few months, it will all be allocated to go towards this upcoming expense. Don't you do that? budget for an upcoming expense rather then have it "jump out and bite you"(which taxes technically haven't till 4/15). In fact, that's one of the most important things that YNAB teaches...
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Dec 15, 2014 19:51
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DogsCantBudget posted:She's not that kind of person...and if she did have a mani/pedi in mind(which she doesnt), we already have money earmarked for that... DogsCantBudget posted:You're telling me that saving for an upcoming expense(whether in 4 months or in 40 years) is not savings? You should reevaluate. This is Short Term savings. Retirement, etc is Long Term Savings My Rhythmic Crotch fucked around with this message at 19:55 on Dec 15, 2014 |
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Dec 15, 2014 19:51
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DogsCantBudget posted:There is, in fact, 60$ in her "pedicure" bucket in Cap360 account... Look, hyou have to put all your money ins and outs and what is in your accounts and poo poo like that into YNAB because you're already confusing the gently caress out of yourself and everyone here. Have a general account so you don't specifically earmark money that she isn't going to use. Also you BUDGETED, THE 60 DOLLARS, BUT YOU DONT WANT IT IN YOUR BUDGET. Do you not see a problem with that? No no no go put those loving accounts in YNAB you're going to drive me and everyone crazy with that. Unless you're not because you're hiding money? I'm already so confused now. moana posted:So you're not going to pay down debt, instead you're going to put the money on the side to pay down IRS debt that you will owe in the future. That's not savings. That's money you owe being set aside so you can pay off your debt to the IRS. You're not saving it. It's earmarked to go to someone who is not you. If I didn't pay any estimated taxes to the IRS, I wouldn't go around yelling that I have tens of thousands in extra savings for the next few months, whee! No, that money is owed to someone else. I think people just need to clarify the difference between saving (to pay/buy/do something) and savings (an account that you use for emergencies) DogsCantBudget posted:You're telling me that saving for an upcoming expense(whether in 4 months or in 40 years) is not savings? You should reevaluate. This is Short Term savings. Retirement, etc is Long Term Savings No the Rainy Day Fund isn't savings Moana is right. You're using business terminology for your budget which is bad stop that. Your tax burden is a rainy day expense, in which you have to save money to pay for it. That is not money that is going into your savings. Also your ROTH IRA are Retirement savings, but it is not your savings account. Savings are supposed to be fluid and what you use to patch up unforeseeable expenses and hiccups in your life. A rainy day fund is to pay off a specific thing, but you save the money until that moment you pay it. See the difference? Veskit fucked around with this message at 19:55 on Dec 15, 2014 |
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Dec 15, 2014 19:52
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My Rhythmic Crotch posted:Consider me skeptical. December is mega loving expensive: Xmas parties, gifts, booze, restaurants, plane tickets, gas, New Year's Eve parties, etc. If you manage to hang on to that 2 grand by the time December is out I will be truly impressed. This last trip to Mexico was the holiday thing/etc. We saw most of our extended family there. Xmas parties, well....it's nice, we're new in town, not a ton of friends yet, and we're jewish. No kids so hanukah isn't that big. We have sorta decided not to do any grand gestures for each other this year because of this debt. The only things left here are gifts/booze/restaurants/gas: We've accounted for all of those in the budget above(except technically booze, but I really hope we can basically swear off alcohol, not that we are big drinkers anyways, but it really is empty calories).
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Dec 15, 2014 19:56
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DogsCantBudget posted:Nor would I say that I have tons of extra money for the next few months, it will all be allocated to go towards this upcoming expense. Don't you do that? budget for an upcoming expense rather then have it "jump out and bite you"(which taxes technically haven't till 4/15). In fact, that's one of the most important things that YNAB teaches... Veskit posted:I think people just need to clarify the difference between saving (to pay/buy/do something) and savings (an account that you use for emergencies)
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Dec 15, 2014 20:13
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moana posted:But you're not budgeting for this by cutting unnecessary expenses, you're just not going to pay off your other debt. It's not savings in any sense of the word, you're being ridiculous. By your definition, every single dollar of your paycheck is "savings" if you don't spend it the instant you get it in your bank account. Juggling debts should not affect the way you talk about your income and expenses. OK so if you look through my expenses list(see post 1) which of those would you argue are unnecessary? I'll list the ones I consider that I can pull out of their "buckets" to pay for other buckets: 1) Hobbies 2) Travel 3) Wife Pedicure 4) Gifts 5) Club Dues Total per month: 698. What else can/should I consider cutting down on?
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Dec 15, 2014 20:21
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Edit: Nevermind, not worth it. VVV I cannot make the following post work with the graph you just posted. I'm $2100 off. DogsCantBudget posted:This post, click the link. Spermy Smurf fucked around with this message at 20:36 on Dec 15, 2014 |
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Dec 15, 2014 20:25
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Spermy Smurf posted:Edit: Nevermind, not worth it. I mean, I plan to post the same graph at the end of this month...why would you have expected that I wouldn't? And why would you edit your post? The month so far:  (for those wondering, mortgage comes out on 12/31 for 1/1, and 11/30 for 12/1, hence why its not on here(for ~1400$)
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Dec 15, 2014 20:28
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Dude, fix your withholding RIGHT NOW. Go to HR and fix it. I'll wait. Done? Good. Okay, so you bring home $10k a month and still somehow manage to have only a couple grand in long-term savings? And you're leaving accounts out of YNAB? And you refer to putting money away for hobbies as "savings"? And you don't want to budget for stuff you don't plan on spending this very second? And your username is DogsCantBudget? And yet you're wondering why people here think you have no idea what you're doing? You need to get this poo poo under control. Isn't it stressful to keep juggling every week and earmarking future paychecks? With your income you should be at YNAB Step 4 six months ago. GET THERE. Then when you're there, you take ALL the money you have for the month, and you put it in categories, and THAT'S IT. There's no justifying buying poo poo with paycheck 1 because you plan to do stuff with paycheck 2 next week. It's all there, all at once, and you can make much smarter decisions about what to do with your money. It's also incredibly less stressful. It's clear you have zero idea what you're doing, so stop arguing with people who are trying to tell you that you have zero idea what you're doing. Shut up and listen and follow directions. You make far too much money to be in the position you're in, and it's disgusting.
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Dec 15, 2014 21:29
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Old Fart posted:Dude, fix your withholding RIGHT NOW. Go to HR and fix it. I'll wait. Old Fart posted:Okay, so you bring home $10k a month and still somehow manage to have only a couple grand in long-term savings? And you're leaving accounts out of YNAB? And you refer to putting money away for hobbies as "savings"? And you don't want to budget for stuff you don't plan on spending this very second? And your username is DogsCantBudget?
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Dec 15, 2014 21:51
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DogsCantBudget posted:What else can/should I consider cutting down on? 1 - you've had months of very high spending, and we were not privy to that data. We don't know what was purchased, why you bought it, or if you had buyer's remorse over it. You did provide November's full transaction list - but that seemed to be a month of good behavior - very tough to tell how well that represents your normal habits. 2 - we don't know what things you and DCBWife derive happiness from. Your income level is such that you could, potentially, enjoy some nice things. But those things should be carefully vetted out to really understand if you enjoy the item itself, or if you just enjoy the process of shopping. edit: You and wifey need to think about it and tell us
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Dec 15, 2014 22:04
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DogsCantBudget posted:OK so if you look through my expenses list(see post 1) which of those would you argue are unnecessary? I'll list the ones I consider that I can pull out of their "buckets" to pay for other buckets: quote:What else can/should I consider cutting down on? From your attitude and the past evidence that you have never been able to NOT spend your money, I would say that you need to tighten up your budget considerably and be more attentive to where your money is going. Furthermore, your savings buffer needs to be bigger than most since you spend so goddamn much. You have to save (ACTUALLY SAVE) ten thousand dollars to have a one-month emergency fund, because you have been spending all of your income. That's crazy, yo.
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Dec 15, 2014 22:18
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DogsCantBudget posted:Done, I think. I am withholding an extra 200 a paycheck now, should cover next year nicely So you think you underpaid by $10,000, and you think $200 a paycheque is going to cover it? Do you get paid weekly? 200 * 26 = Not 10,000 Were I in your situation, I'd be making GBS threads bricks, and figuring out what I was going to owe would be top priority. Get out your most recent paystub and DO IT. If the forms at irs.gov are too complicated, then use TurboTax. It's free to calculate, it only charges to print out and file forms (I think). Even if you're just doing a theoretical using last year's code, it will still give you a good idea. I don't even understand how you can owe $10,000, unless you filled out your withholding forms incorrectly. Did you sell a lot of stock or something? What are your income sources?
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Dec 15, 2014 23:00
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How much money do you make, and how much did you have withheld this year? Remember, you get to deduct at least 19 grand or so from your taxable income not counting any retirement stuff.... Honestly, I have no idea how you even missed by 10 grand unless you have 25k+ in side 1099 income. The withholding sheets that companies use literally can't result in that.
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Dec 15, 2014 23:14
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Droo posted:How much money do you make, and how much did you have withheld this year? Remember, you get to deduct at least 19 grand or so from your taxable income not counting any retirement stuff.... This year, the rough numbers(within 1000) Me: 120000 pretax earnings 16000 Federal Tax 10000 contributed to 401k 1150 contributed to FSA 50000 pretax 4000 federal tax 0 contributed to 401k(not eligible) 1000 contributed to HSA According to the IRS withholding calculator, I'm freaking out for no reason whatsoever, and will get back 4k. However earlier this morning, either I plugged some numbers in completely back asswards and it said I owed 10k...  So I guess time will tell?
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Dec 16, 2014 05:11
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I ran your income through an income tax calculator with like $12500 in deductions (FSA, HSA, and 401k) on top of the standard deduction and got a liability of around $26k. Where is the $11k worth of tax credits you have in the withholding calculator coming from?
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Dec 16, 2014 05:56
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Using your numbers and my spreadsheet, I get a tax of $26100 so me and Ancillary agree. It seems you will owe about $6000. I think the oddest thing about this is that neither of your attempts to calculate your tax burden seems to be within $4000 of what it actually is.
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Dec 16, 2014 06:31
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Ancillary Character posted:I ran your income through an income tax calculator with like $12500 in deductions (FSA, HSA, and 401k) on top of the standard deduction and got a liability of around $26k. Where is the $11k worth of tax credits you have in the withholding calculator coming from? I think i misentered that...it should have been 11k in deductions due to property tax and mortgage interest paid. Not a credit...that's where I screwed up I think...but my latest math comes to ~8k owed...god taxes are actually quite confusing...
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Dec 16, 2014 13:15
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No joke, there's a reason "Accountant" is a viable and stable profession. Please consider using one in the future.
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Dec 16, 2014 15:15
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DogsCantBudget posted:I think i misentered that...it should have been 11k in deductions due to property tax and mortgage interest paid. Not a credit...that's where I screwed up I think...but my latest math comes to ~8k owed...god taxes are actually quite confusing... Actually they are pretty easy. Just sit down and calculate the numbers. The biggest question is what are your withholdings at work? Married and withholding 1 for both of you? You basically make money like 2 single people making 80k a year. So you could change it to single with one withholding or married and zero and then bump some additional to the fed.
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Dec 16, 2014 15:36
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spwrozek posted:Actually they are pretty easy. Just sit down and calculate the numbers. The biggest question is what are your withholdings at work? Married and withholding 1 for both of you? You basically make money like 2 single people making 80k a year. So you could change it to single with one withholding or married and zero and then bump some additional to the fed. Yes we are both listed as Married and withhold 1. We file as "married filing jointly".
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Dec 16, 2014 16:22
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You can figure it out but you most likely should have married, zero, and then some additional money on top of that. We are bringing in 183K this year and married, 0, and $300 a month puts it close. We had a big income change mid year so we ended up withholding too much and I should get back about $3500. But you are probably looking at $30k federal tax next year based on the latest income days you put out. All depends on deductions and such but just so you know.
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Dec 16, 2014 18:04
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| # ? Apr 17, 2024 00:11 |
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Veskit posted:He's saying december he'll save 2500, even though at this moment in time he's saved 317.50. That isn't a december projection, it's December finances at that moment in time, 12/15/2014. I allocated the Rainy day fund out into the correct values/buckets(they were withdrawn from my primary checking account today)...  As you can see we bought about 3 days of groceries. The internet bill was significantly less then I thought it was(my memory failed). I paid it yesterday and it was 52.68(I'm pretty sure) but I may have transposed one of the pennies digits and as such will wait till the actual charge hits my account before I log it into YNAB. Regardless, there will be ~60 more dollars to work with which is nice. The cell phone bill was 8$ more then I allocated, so I adjusted the budget for it(and paid it yesterday) DogsCantBudget fucked around with this message at 19:38 on Dec 16, 2014 |
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Dec 16, 2014 19:04
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