I must be one of the of the few but I literally track every dollar spent. I get notifications on my phone whenever money is spent and how much. I log open my google sheet and update the document. It takes seconds and I always know where we are financially. It brings me peace and works well for my family
My parents actually took the unpredictable timing and amounts approach for myself and my 3 siblings. I believe it worked well for our family. Generally if one child needed some sort of help. A car emergency, or unexpected medical bill for example my parents gave the amount as a gift and then made sure each of the rest of us received the same amount. Fortunately, my parents were in place to make 4 payments (4 kids) but they felt keeping it equal was important. They also realized we children needed a lot more help in our 20's with little kids then we do now in our 40's. The gifts have slowed down as we have aged and my parents left full time employment. Now the gifts are for the grandchildren and they are more predictable (high school graduation etc...)
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Arthur Brooks has a book Strength to Strength that deals with the loss of fluid intelligence. Highly recommend.
Post: When I Get Stupid
Link to comment from November 7, 2022
I must be one of the of the few but I literally track every dollar spent. I get notifications on my phone whenever money is spent and how much. I log open my google sheet and update the document. It takes seconds and I always know where we are financially. It brings me peace and works well for my family
Post: Better Than a Budget
Link to comment from November 2, 2022
My parents actually took the unpredictable timing and amounts approach for myself and my 3 siblings. I believe it worked well for our family. Generally if one child needed some sort of help. A car emergency, or unexpected medical bill for example my parents gave the amount as a gift and then made sure each of the rest of us received the same amount. Fortunately, my parents were in place to make 4 payments (4 kids) but they felt keeping it equal was important. They also realized we children needed a lot more help in our 20's with little kids then we do now in our 40's. The gifts have slowed down as we have aged and my parents left full time employment. Now the gifts are for the grandchildren and they are more predictable (high school graduation etc...)
Post: Helping Wisely
Link to comment from November 15, 2021