Your Questions About Household Budgets

Steven asks…

What is Cap and Trade and how will it affect our household budgets?

I doubt anyone knows of this impending expense.
I’m surprised this made it through.

richmama answers:

It should be called what it is-an energy tax, which will make everyone’s taxes go up thousands each year-especially the working class, which 0bama promised would see no new taxes.

Charles asks…

Do you believe in times of extreme recession the gov’t should run it’s budgets like a household budget and?

halt spending?

Or do you think that the gov’t needs to spend in order to keep the money flowing(i.e. it takes money to make money)just as companies invest in R&D during tough times?

richmama answers:

Even in extreme situations, household spending can’t be brought to a halt. There are always things like food, shelter, utilities, gas and car insurance that still need to be paid. The government isn’t a home and people who believe it can be run the same way are simplistic in their views.

Linda asks…

household budgets… What;s the best on-line help to organize your money??

richmama answers:

Friend my suggestion try it.
log on

Paul asks…

Household budgets – funny or not?

Seamus on looking at the household budget complained to his wife on her spending.
“If you cleaned the house yourself that would save on the cleaning lady” he exclaimed.
“You should also learn to cook and that would save on having to go to restaurants all the time.”
“And while we’re at it, you should learn to iron so that we wouldn’t have to pay the ironing lady”
After pondering on his comments for a few moments the wife replied “And if you would learn to f uck, then we could get rid of the gardener.”

richmama answers:

Ha! Ha! What a shock for the husband….

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How to Live on a Budget – Like a RichMama

How To Live On a Budget

For many families, finding out how to live on a budget is very similar to trying to find a weight-loss plan and sticking with it. Just like a diet makes you feel hungry all the time, a if you learn how to live on a a budget it can often cause a family feel poor, like they simply are not getting what they want. This is why many people struggle to find a budget and stick to it. The most important part of budgeting is all about approaching with the right state of mind. If, from the very start, your family views a budget as a punishment, there is no way you will be able to live well while trying to restrict what you spend. When learning how to live on a budget, it should be viewed as an essential, long-term tool so that your family can get what they want. In other words, it is important that every member of the family understands that how to live on a budget is all about achieving a specific goal. With this in mind, the right way to approach making a budget is not to think about what you are restricting in your finances, but about how you are going to plan them out. How to live on a budget is not about cutting spending, it is about planning out exactly how you will be spending your money.

How to Live on A Budget- No Ramen Needed

When planning  how to live on a budget, it is a good idea to take a look at different aspects of your life where you can afford to spend a bit less. However, it is easy to get lost in the details. There is no reason to force everyone in your household to start eating ramen for every meal or recycling soap slivers just yet.  The best way to learn how to live on a budget is to look at your biggest expenses and find ways to reduce these. Often, cutting just a tiny percentage of your utility bill or your auto insurance payments means significantly higher savings than anything else you may do – and this is a great thing to when you’re learning how to live on a budget.

This is not to say that you should not look for little ways to make your daily spending more efficient (those little changes can add up to big savings,) it simply means that you should look at your biggest expenses first. The best part about this approach of how to live on a budget is that the biggest spending cuts can be made without making your family feel poor or that they do not have the things they need.


How to Live on a Budget – Find the Splurge Spots

The best way to learn how to live on a budget is to find ways to occasionally splurge while not losing sight of your long-term, most important goals (such as college, retirement, or your mortgage.) Remember, the real answer to understand how to live on a budget is to view the budget as the key to achieving all of your family’s dreams and long-term goals. This requires flexibility and creativity when it comes to how you will spend your money. It also requires that absolutely everyone is on board with what you are doing. Of course, it pays to set up several shorter-term goals, so that your family can stay motivated by seeing what their budget is achieving. While budgeting is about sacrifice, remember that sacrifice is not simply giving up the things you want, but giving them up for something that you feel is more important.  You can live on a budget – and live well if you think creatively about your needs and wants.


Your Questions About Pay Off Credit Card With Another Credit Card

William asks…

What to do pay off another credit card or put money on the procedure I need to have done?

I paid off my 2 highest credit cards. I now have almost 1000.00 dollars tha I could put on the medical procedure Cosmetic and not covered with INSURANCE. or I can take the money and pay on a credit card that gives me low 1.99% interest until November? by the way this amount will pay all but 250.00 on that credit card. What to do? And by the way thank you to everyone who helped with previous question!

richmama answers:

To be in the best financial position in the future, you should put the $1,000 into the credit card and not use credit cards for something that is not needed right away. If you can save up enough to payoff the remainder of the credit card and pay cash for the procedure, you are golden.

Ask yourself this question: Would you borrow money from a friend or family to have this procedure done?

Ken asks…

Using a credit card to pay off another CC?

I have three credit cards:
One with ~17% APR, the other two are 0% APR.

I rarely use the other two (they don’t have a good “cash back” deal). Now, my question is, I’m having a little trouble paying my bills this month, and I don’t want to incur the high ~17% interest. So, can I just pay that CC off with one of my 0% APR?
Why 6 months?

And I pay off my CC debts every month in full, so never incur any of these penalties. It’s just this month I’m foreseeing having troubles.

richmama answers:

Sure you ‘can’, but that did not magically make your financial situation any better, nor pay down the debt that you incurred, just hid it someplace else. Not much of an advantage to getting ‘cash back’ if you are paying 17% on the outstanding balance?!? Unless you are getting back more each month then you are paying in interest then it is a waste to have that card.

Steven asks…

how do you pay off a credit card with another credit card?

I want to pay off one of my cards with another credit card so I can consolidate everything to the card with the lowest interest and so I don’t have to pay a monthly balance for two cards. When I click Make a Payment, it asks for checking account information like bank account number, routing number etc. but I don’t want to pay by checking. How can I do this?

richmama answers:

Call up the credit card company you are going to be transferring your balance to and ask them for some checks to do this. Or, they may have another way that they make this convenient. Just be careful by putting the other balance over on the card, that you aren’t going to be getting over 50% of the available limit on your card. That may trigger them to jack up the interest or minimum payment.

Mandy asks…

Can you pay off a credit card with ANOTHER credit card?

Can you pay off a credit card with ANOTHER credit card?

richmama answers:

It’s usually called a Balance transfer and if you’re a good customer with a decent credit score the credit card companies will often have lower APRs for the transfered balances. Sometimes a Balance transfer fee is applied as well.

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