Wednesday, August 28, 2013
Reflection #2
How has examing your income and expenses impacted your way of thinking about finances? Was there anything surprising about how you are spending your money? What did you get out the presentation by Mr. Jackson? Will you be making any changes to how you are spending your money in the next year?
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It definitely opened my eyes to how much I spend on going out to eat. I may not spend on cups of coffee or lattes or chips but I do love to go out to restaurants. I am pretty good at not spending on snacks because I keep in mind that some snacks have a lot of calories and I have a bunch of fruit at home. I'm trying to limit my take-out to once or twice a week because not only will I be saving money, I'll be saving calories.
ReplyDeleteMr. Jackson's presentation helped me think about my financial future. I need to actively save for retirement and basically be aware that you need to be prepared for any emergencies that may arise.
Some changes I will be making this year will definitely be eating out less, or if I do then opt for inexpensive choices, and finding a better cell phone provider because $93 a month is just unacceptable.
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DeleteExamining my income and my expenses impacted me the way I think of my finances because I added up all my expenses this weekend and not only did I spend a lot of money, but I spent my money on things that were unnecessary like fast food places. It was very surprising when I added everything up and it summed up to $75.00! With the $75 I could have payed the SDGE bill that has been over due for about a month. What Mr. Jackson taught me was that even saving a 5% of your money to savings can save you a good amount of money. I'm currently in the process of creating a savings account. By the next year my goal is to have a savings account, with AT LEAST $500.
ReplyDeleteThe assignment of examining our income and expenses didn't really affect my thinking about finances. the reason for this is that growing up, my dad always taught me the same thing. he embedded the idea that in order to be successful, you must always be financially secure. what this means is that you should have money saved up in case of emergencies. I've learned to budget my money and when it comes to how i spend it, it usually comes down to food. In between my classes, not really having time to get home and back, my only resort is to buy it. My favorite part of the presentation was the discussion of different strategies to save money. There was many new ways for me to try out. The only change i can hope to make is beginning to save a few bucks by bringing my own food instead of having to buy it everyday. Also, i was debating taking the bus again. While the buspass is only $36 a month, having to pay for gas is about $100-$150 a month. That's at least $1200 a year that i could save.
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DeleteWhen I looked at my income I noticed that I don't really spend a lot of money outside of food because I tend to buy food more than anything else.When Mr. Jackson was done presenting I realized that I need to start saving my money now because I need to start paying myself first since I got my check I I've gave more money away than I used, like in class I know it's hard to say no but I have to start trying to put my foot down and try to stick up for myself. Would I make any changes? Definitely cause I spend about 5 dollars on food a day and that adds up it would be smarter and healthier to just take those extra minutes to make something at home and bring it with me lunch-bag style.
ReplyDeleteLoving your responses, scholars! I definitely noticed that many of you were spending a lot on fast food. Maybe we need a class on how to make a tasty sandwich and pack a healthy lunch!
ReplyDeleteThat would be great.
DeleteWe just might do that!
DeleteI have noticed that I spend a lot more money during the weekdays than the weekends. I spend more days during the weekdays because I spend money on lunch since I forget to bring food from home. Nothing beats food made from home. Well since Mr. Jackson's presentation I have realized that instead of spending money on petty items, I should hold back on spending money on unnecessary items. If I save all the money that I spend on Little things, I could end up with a grip of cash. With that cash I could save up and buy more important necessary items like food for home. I will start spending more money wisely.
ReplyDeleteI noticed that what Mr.jackson said about saving money today will help you tomorrow is true so I decided to write down all the little snacks or drinks that I buy each day. It is terrible to look at the amount by the end of the month. For real I do spend too much money on things that I dont really need. Since Mr.Jackson did the presentation I try to save as much as I can and I will defenitely change my bad habits of buying too much fast food.
ReplyDeleteLooking at my income and expenses made me realize that I am really bad with money.... Actually I knew that but the presentation reminded me that I have to do something to take care of my income!! I spend a lot of money on food, food is my thing. I love to try different types of food and when I am sad, depressed or even happy, I reach out for food. Mr. Jackson's graphs about how much money passes through our hands over our lives and how much we ended up keeping, made me think of the welfare of my son and husband and their future. I have to save money to provide to them at least the necessary stuff and for me to not suffer needs by the time I get old.
ReplyDeleteThe weekly financial examination did not make me fell any different about how I spend my money. It just made me more aware of how is important to manage your money.
ReplyDeleteI think of my finances as the fresh green people have in their yard the only way to keep it green is taking care of it. And that is what I am going to do I must keep my money very well taken care of and save it for those days when the green grass start turning brown
ReplyDeleteMy biggest surprise about how I spend my money is that on a daily I spend it on food I think is cheap but ends up adding up and being more then cheap.
I learn from the presentation Mr. Jackson gave it’s better to save your money in the bank then under your bed , being in the bank it grows. I have already started making changes in how I spend my money by saving it and waiting until I get home to eat , and letting my sister borrow money anymore.
Well, I felt a bit cheated by participating in this activity last week because I really had no money to spend, so I kept all costs at a minimum. When I do have money, I am a little more loose with money, and spend a bit more. At times, I do notice that I spent a little too much, but that's when I look at my finances, and figure out where I can allocate money so that I can make up for the extra money spent. I do tend to eat out a lot, not out of laziness, but because I live in a dorm situation, and my roommates do not respect the fact that my food is my food, even after I have labeled my food. I enjoyed Mr. Jacksons presentation; although I already knew a lot of the information he presented, it reassured me that what I am doing, and my way of saving, and spending, is wise. At the moment, I can't say I can foresee any spending changes, as I really only spend on what I need. I do partake in guilty pleasures, but I always make sure that I have enough in my account to pay next months bills, and have a bit of a cushion should an emergency arise.
ReplyDeleteI am always content with the numbers, how much I spend on bills and personal and how much I save except when it comes to food ! I eat out too much ! When i used to work at Urban Corps I ate home made chicken salad's faithfully for a year straight. It saved me a ton of money, But if food is not Your issue and it doesn't concern bills, spend Your time wisely! Spending time is just as important, they come hand in hand, time is money! do something self productive that doesn't involve money such as reading, exercising, or just simply relaxing. Don't worry, I will practice what I preach! the presentation was awesome by the way
ReplyDeleteMoney is always an issue to me. I like the idea of having money because it's always "useful" but I never know what to spend it on so it usually just sits there for a bit until I "lend" it out or just decide to waste it. I don't Like money because two people can work the same amount of hours and make the same amount even though one is doing their work below bare minimum, meaning that no matter how spectacular of a worker someone may be- they may still be only worth as much as the person who chose to be lazy at the end of their life. This is based off the information of networth Mr. Jackson had described and mixed with the mentality that the value of the person is tied into their job title (their paycheck).
ReplyDeleteMoney is just a place something else until you figure out what that something else is. I already figured out how much I will need for the rest of school(counting the transfer) and where it will come from, it's not an immediate necessity to pay bills yet, I'm fine with the clothes I wear, and I'm still looking for a job. I think I am financially stable for short-term. For long-term, I really don't feel like looking down that way yet. I don't like the idea of investing into retirement funds/pensions, I have heard enough of how they lose the money. Then if I die to early I don't get to use all of my money I worked for, but if I live to long then I'm screwed beacause the coming in retirement money isn't enough in the day of the future's value of the dollar (as Mr. Jackson showed us in his money/inflation
I don't really like spending money because the only way I can get the money is through my mom. I don't have a job :(. Most of the time, I spent my money on clothing and cell phone bill. Since I live with my parents, I don't have to pay anything such as SDG&E, food, rent, etc. I don't even have to cook (haha). I've learned a lot from Mr. Jackson because when I got my first Price check, I gave my mom $300 to save it for me. Before fall semester started, I spent a lot of time with my friends and that's when the other $75 disappear (hehe). I wouldn't have time to hang out with my friends, so that will save me some money.
ReplyDeleteWell examining my income has made me realize how broke I am. But it made me realize how thats my fault because as soon as my fingers touch money I want to spend it. I need to become more responsible with it and understand that I need to safe. Mr. Jacksons presentation reinforced what my dad has always preached to me and that is to always safe money for a rainy day. I'm going to start to work so yes I think my money habits are going to change because instead of wasting others money now am going to be spending mine which I heard is harder to do.
ReplyDeleteAfter tracking my incoming and outgoing money for those few days I have realized that it really adds up. Just noticing the little things such as packing a lunch compared to buying lunch. To get all the stuff for lunch and snacks it costs under $15, and can last up to 5 to 6 days depending on what you buy. Or you can buy a beagle for $4.50 that might last you lunch and maybe a snack later. Even though its little amounts of money it still adds up, I agree with the fact that saving is a good idea saving as much as you can, will pay off like when a new movie come out or you just want some new shirts.
ReplyDeleteOnce again, i am really enjoying all of the comments and the different viewpoints! Seems like many of you are at least paying attention to what you are spending....keep it up and it will be easier to change your habits toward saving and planning when you are ready.
ReplyDeleteI usually keep track of my expenses but I don't have a limit for how much I should spend during a certain period of time. But now that I'm thinking about the things I spend money in, I have realized that I could save a lot of money in one year if I knew how to manage my finances better. One thing that was really surprising about the presentation was the part when he talked about the money that we make during our lifetime, how much we actually spend on ourselves and how much we spend on taxes and different expenses. I will definitely do something about my finances and start saving or at least manage my money in a better way.
ReplyDeleteOver the time I had to spend looking at my expenses and the income I get every month I saw to only put my money in food. I noticed that if I just brought my lunches and dinners with me then I would save ALL of my money and put it toward my savings. I'm planning on saving a big chunk of my Price money away and just put it in the bank. Then I would be able to save for a better car that has a working driver's window and a closeable trunk because just to let you know guys my car does NOT have those things.. Anyways, I think saving has been my main priority for this academic year because I did not even buy new school clothes or shoes like how the tradition goes just so i can save my money toward all long lasting investments. (Plus I have night classes so no one will care anyway haha.)
ReplyDeleteExamining my income made me realize i waste a lot of money on food. During the assignment i didn't waste much money because i didn't have none. but on the regular i usually waste it on food. i definitely need to change that and the way i manage my money for example safe half of whatever money i get. Mr. Jackson's presentation made me realize that i have to learn how to use my money wisely. and to not spend it on unnecessary things.
ReplyDeleteI had an idea that I was carelessly spending money, but I didn't know to what extent. Last week had definitely opened my eyes to budgeting, and being wiser about saving and what I choose to spend on. The presentation helped to see clearer into my future, so I'm really grateful for that. I'm definitely making a lot more changes in how I handle my finances.
ReplyDeleteExamining my income has made things completely different know. I already knew I have been waisting a lot of money on things I don't really need, and simple stuff that I can wait on buying when I really have some extra money. During the examination , I didn't waist money but for the exception of some of my text books and other school stuff; this was just for the fact that I had hurt my back and couldn't really do much, like go out with friends or spend some time at the mall. After the years I been getting better, I started at a really young age working so it has been easy to spoil myself due to the fact i am still living at home. But as i grow older, in receiving more responsibilities and bills on my plate.By the presentation I learn that saving up might not always be easy, but it can easily save you when you have an emergency ; for a lot of us saving up is the last thing in our minds, but we must face the fact that one day or another that money will be much needed. I love Richards way of saving up, I believe he said he put $1 one week...$2 the next week, and so on. I really wanna try this and hopefully it happens soon.
ReplyDeleteBy examining my incomes and my expenses of three day, I was really impacted because I don’t really have that much of an income and what I spend is twice more that what I earn. Not there was not anything surprising in how I spend my money since I always spend money in the same things.
ReplyDeleteFrom Mr. Jackson I got that is always good to have a good idea of what you are spending your money in because little by little you make a lot. Of course I will make changes in how I spend my money so that I don’t waste it in my wants and to save it in my need!
After looking at the way that I use my money I realized that I am terrible spender and I need to back off a little bit on all the unnessasary items that I get. I do help my family a lot & I hardly making money so maybe having a conversation with them and talking about how I need to save up could also help after the presentation ive realized the importness of saving and how to get where I am to become to successful
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