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Ask HN: How do you manage and budget your monthly income

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21–26 of 26 posts

Re: Ask HN: How do you manage and budget your monthly income

#21

Use personalcapital.com to track everything. Put all charges onto a sold rewards card, Costco Visa in my case. Pay off credit card every paycheck and put the rest into Ally Invest account. Buy Etfs to maintain the balance of a solid portfolio. Examine monthly budget from personalcapital.com and finds ways to trim expenses.

My strategy nearly matches this comment. I'd also set all bill payments to autopay so you avoid any late fees/delinquent accounts which needlessly hurts your credit. I highly encourage you to list out your regular monthly expense categories and write out what that is (e.g. mortgage/utilities/subscriptions), add that all up, and then see what the delta is every month so you know where your discretionary spending is going. Even better is to have a financial goal with a finite number so you know how you are progressing towards it (e.g. emergency fund, vacation fund, retirement, etc).

Re: Ask HN: How do you manage and budget your monthly income

#23

I never really budget to be honest. I simply spent as little money as possible. To me, it’s like people that want to lose weight. You can stick to a diet or simply choose to eat less at all times. Every time I spent, I figure out what is on discount and whether it’s a ‘want’ or a ‘need’. I will indulge once in a while on late night food though.

Same, I don't do any budget. i just don't spend a lot and prioritize what's need to be paid. Those left? That's what I save.

Re: Ask HN: How do you manage and budget your monthly income

#24
post #14
post #12

Earlier quoted context omitted.

I don't have the necessary financial knowledge to learn how to trade efficiently. I know it's now just buy low, sell high. The problem is when and what to buy. The only thing that I could do regarding this is use a platform like etoro and their copy feature.

Thats the great thing about Exchange Traded funds which track an index - there's no thinking to do just invest in the fund for example this is a popular one: Vanguard S&P 500 ETF (VOO) And when you buy this you are effectively buying, Apple, Amazon, Google, Johnson & Johnson, Procter & Gamble Co, NVIDIA etc because the fund will go ahead and buy all the largest 500 US companies weighted by market cap. The S&P500 has…

Found something interesting - https://www.upmyinterest.com/article/investportfoliolt

SP 500 was -5.9% in 2018, but it went up to 31% in 2019...pretty fair.

Re: Ask HN: How do you manage and budget your monthly income

#25

my bank automatically sorts all of my expenses and I review them and update miss characterizations. It has done through a phone app, it is effectively zero work I keep all large expenses small my rent has never been more than $800 a month. I do this by living with people.

what bank does this?

Re: Ask HN: How do you manage and budget your monthly income

#26

my bank automatically sorts all of my expenses and I review them and update miss characterizations. It has done through a phone app, it is effectively zero work I keep all large expenses small my rent has never been more than $800 a month. I do this by living with people.

what bank does this?

Becu for washington, 1st tech for oregon. I'm sure others too. I only use credit unions
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