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| (Photo credit: Tax Credits) |
This is the eighth in a series of posts
about how a disabled person like me passes the time at home, now that I no
longer work.
To say that I obsess over our finances may be too harsh.
I’ll describe what it is I do, and you can decide what to call it.
I’ll describe what it is I do, and you can decide what to call it.
My primary
tool for managing our finances is a program called Quicken. I have 18 separate accounts in Quicken, including:
savings, checking, cash, PayPal, various credit cards, mortgage, auto loan,
etc. I periodically reconcile these accounts against statements from the
various financial institutions. I don’t dread this activity. In fact it often
leaves me with a warm, fuzzy feeling on the inside. The spending and income
within those accounts is broken into approximately 80 categories like: Kim
salary, automobile repairs, clothes, groceries, natural gas, Zach tuition,
retirement plan contributions, federal taxes, etc.
tool for managing our finances is a program called Quicken. I have 18 separate accounts in Quicken, including:
savings, checking, cash, PayPal, various credit cards, mortgage, auto loan,
etc. I periodically reconcile these accounts against statements from the
various financial institutions. I don’t dread this activity. In fact it often
leaves me with a warm, fuzzy feeling on the inside. The spending and income
within those accounts is broken into approximately 80 categories like: Kim
salary, automobile repairs, clothes, groceries, natural gas, Zach tuition,
retirement plan contributions, federal taxes, etc.
Okay, obsess is beginning to feel more and
more appropriate. But I’m just getting started.
more appropriate. But I’m just getting started.
I track additional
aspects of our loans and investments, and our gas and electricity usage
separately in Excel spreadsheets. Sometimes Quicken just doesn’t give me the
level of detail that I desire (after all, I need to justify that MBA I spent years of night school completing).
aspects of our loans and investments, and our gas and electricity usage
separately in Excel spreadsheets. Sometimes Quicken just doesn’t give me the
level of detail that I desire (after all, I need to justify that MBA I spent years of night school completing).
I pay all of
our bills electronically, using a variety of methods. In recent years I finally
succeeded in ditching the traditional checkbook. That’s a good thing, since I
am unable to write with a pen anymore, other than scribbling my name illegibly
on the signature line.
our bills electronically, using a variety of methods. In recent years I finally
succeeded in ditching the traditional checkbook. That’s a good thing, since I
am unable to write with a pen anymore, other than scribbling my name illegibly
on the signature line.
In recent
months I’ve had the pleasure of helping Amy manage her student loans, which
will enter repayment status soon. I’ve offered to furnish her with her own copy
of Quicken, but so far she hasn’t shown an interest.
months I’ve had the pleasure of helping Amy manage her student loans, which
will enter repayment status soon. I’ve offered to furnish her with her own copy
of Quicken, but so far she hasn’t shown an interest.
Once a year,
about this time, I also compile something I call “The Sturgeon Family Annual Report.”
In this document I summarize income, spending, cash flow, insurance, loans, net
worth, and more. Why do I do this? First, I can’t imagine how any family could keep
its financial house in order without a periodic look at the big picture.
Second, this report becomes available for Kim’s information if I should die, or
for our kids information if we should both die. Third, it’s just great fun.
about this time, I also compile something I call “The Sturgeon Family Annual Report.”
In this document I summarize income, spending, cash flow, insurance, loans, net
worth, and more. Why do I do this? First, I can’t imagine how any family could keep
its financial house in order without a periodic look at the big picture.
Second, this report becomes available for Kim’s information if I should die, or
for our kids information if we should both die. Third, it’s just great fun.
Fun? Sure. For
example, because of this analysis I know exactly how much money we spent at our
local pub, The Snow Squall, last year (only $979, it was an off year), or at
Trader Joe’s ($551). Because of my obsession, I also know how much we spent on
clothes ($1,359) and veterinary bills ($1,116).
example, because of this analysis I know exactly how much money we spent at our
local pub, The Snow Squall, last year (only $979, it was an off year), or at
Trader Joe’s ($551). Because of my obsession, I also know how much we spent on
clothes ($1,359) and veterinary bills ($1,116).
I rely heavily
upon this information whenever we face important financial decisions.
However, I don’t use this data to manage or control our day-to-day spending. I
don’t develop or attempt to enforce household budgets. We are both frugal by
nature, Kim more than I, and so I don’t need to do much along those lines. I’m
like Jane Goodall studying the great apes. I find our behaviors fascinating,
but I only observe. I rarely engage.
upon this information whenever we face important financial decisions.
However, I don’t use this data to manage or control our day-to-day spending. I
don’t develop or attempt to enforce household budgets. We are both frugal by
nature, Kim more than I, and so I don’t need to do much along those lines. I’m
like Jane Goodall studying the great apes. I find our behaviors fascinating,
but I only observe. I rarely engage.
Here are my other posts in this series:
1. I Watch (mostly) Quality Television
2. I Digitize and Archive Family Photos and Videos
3. I Read Books
4. I Attend Courses at Top Universities (sort of)
5. I Nap
6. I Blog
7. I Read Other People’s Blogs
1. I Watch (mostly) Quality Television
2. I Digitize and Archive Family Photos and Videos
3. I Read Books
4. I Attend Courses at Top Universities (sort of)
5. I Nap
6. I Blog
7. I Read Other People’s Blogs
Great post Mitch! Should have known you would be busting out the Excel charts.
In some respects it would be nice to have all the financial minutiae we create in our daily lives collected and reported automatically but then in other regards it would be a bit creepy and a large security target.
Until then, Quicken and Excel to the rescue.
I don't handle the finances here — too boring, and I hate working with numbers. You seem to make all of it a fun job, though.
Darren, I'm glad you liked it. Yes, the future holds the dichotomy you describe – easy access to our own personal information, but with security risks. Personally, I look forward to the challenge.
Muffie, I understand that not everyone has my disease, and I'm not talking about MS 🙂
Hi Mitch,
Here's one of the things I do:
I send and receive emails from friends and family.
Here's one I thought I'd share.
Dee/OH
Stay Young My Friend
We all need to read this one over and over until it becomes part of who we are.
HOW TO STAY YOUNG
1.. Try everything twice.
On one woman's tombstone she said
she wanted this epitaph:
"Tried everything twice.
Loved it both times!"
2. Keep only cheerful friends.
The grouches pull you down.
(Keep this in mind if you are one of those grouches!)
3. Keep learning:
Learn more about the computer, crafts, gardening, whatever…
Never let the brain get idle. 'An idle mind is the devil's workshop.'
And the devil's name is Alzheimer's!
4. Enjoy the simple things.
5. Laugh often, long and loud. Laugh until you gasp for breath.
And if you have a friend who makes you laugh,
spend lots and lots of time with HIM/HER.
6.. The tears happen:
Endure, grieve, and move on.
LIVE while you are alive.
7. Surround yourself with what you love:
whether it's family, pets, keepsakes, music, plants, hobbies, whatever..
Your home is your refuge.
8. Cherish your health:
If it is good, preserve it.
If it is unstable, improve it.
If it is beyond what you can improve, get help (or learn to adjust).
9. Don't take guilt trips..
Take a trip to the mall, even to the next county, to a foreign
country, but NOT to where the guilt is.
10. Tell the people you love
that you love them, at every opportunity.
I love you, my special friend!
11. Forgive now those who made you cry.
You might not get a second chance..
And if you don't send this to at least 4 people – who cares?
But do share this with someone.
Remember!
Lost time can never be found.
Be kinder than necessary, for everyone you meet is
fighting some kind of battle.
Wine does not make you FAT …. it makes you LEAN ….
(against tables, chairs, floors, walls and ugly people.)
Too funny!!!!
Dee, great stuff! Thanks for sharing.