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Advice Please

September 4th, 2017 at 08:36 pm

So I am asking for a bit of advice.

I have a young Soldier. I'm wanting to help her with a budget and getting her started in education. She needs to start setting up her life for the future.

I am already advising her to start savings by automatically depositing it into her account. But she's a hands on kind of person. She doesn't have a laptop. (I'm knowledgeable on retirement and savings.)

So I'm wondering on how some of you have done it if you're hands-on. What did you do for your hand-on notebook?

I've been on YouTube and been looking at some stuff.

But what is it that you've done?

7 Responses to “Advice Please”

  1. VS_ozgirl Says:

    Maybe a notebook that lists your budget and if she has no computer, another notebook with ruled lines where she can keep a tally of her spending? That way she can do a reconciliation of money that comes in and out.

  2. William Says:

    I agree with the way that he told above. we must live in the present situations. She can use the notebook for writing her spendings etc.

  3. creditcardfree Says:

    A check register for starters! Since paid twice per month it might be helpful to budget twice per month. I wish I still had a copy, but for years I used a printout I made, basically excel sheet columns. First column date, second column name of bill or savings, third column amount of bill/savings, forth column was a place to checkmark when paid. I guess it was more of a list of bills, but it let me know what I items I had to pay when, and when I had paid them. I figured out which bills could be paid out of which check. I also had a line for savings or extra after that pay periods bills were paid. This I could save, after deducting bills and spending money. I often moved the save money to a 2nd account, which really helped keep our hands off the money, especially if some might be needed to pay a larger bill the next pay period.

    Make sure she sets aside money for non monthly expenses, such as car tags or christmas. That is a key part of budgeting. And establishing an emergency fund is key!

  4. snafu Says:

    How kind of you to work with a young colleague. 1st if she wants to be computer literate, every library has computers to use without charge and classes if they can co ordinate with her schedule. A lot of financial 'planner' apps can be used with a smart phone. I suggest going slowly, understanding every forward. 1st, give every dollar a 'job.' As others explain, list all bills, loans, expenses [monthly, irregular like vehicle insurance or possibly water]. If there is an employer retirement plan with matching contribution, that's important free money. Match net income with due date of bills, giving two business days leeway, they can be paid by telephone banking. I can not emphasis the important of paying bills on time, being late hits your credit score in the most negative way. Most importantly, having a linked savings account allows her to 'pay herself 1st,' by transferring 10 % of the top to start the baby steps towards an all important emergency fund.

  5. rob62521 Says:

    How wonderful for you to work with someone and try to help. A notebook would be helpful or maybe one of those books like they used to use with the different columns. Or, graph paper in a 3 ring binder might work with different inserts to show different accounts.

  6. professional research and custom essay Says:

    when I worked long ago to save more, now I spend less, because I work less, such is the logical logic

  7. www.smartwriters.org/blog/career-goals-essay-is-as-easy-as-interesting Says:

    The sooner you start teaching your children financial literacy, the easier it will be for them to start their own financial freedom and making money.

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