No. of Recommendations: 1
You father doesn't sound like he can do that, but if you can't get him to do some basic budgeting and financial planning, the whole thing becomes a wing and a prayer.

He might try my version of budgeting. I entered all my spending for several years and assumed that was my budget. It took about a week to enter four year's worth of checks and credit card receipts. These days, you can download at least four months of that.

VickiSpouse thought that was peculiar: He thinks budgets should be prescriptive rather than descriptive. However, our spending is fairly regular, and I did identify a few areas of excess. Who knew "books" could be a major budget category?

The other advantage of that method was that it identified the seasonality of our spending so that I could adjust our short-term ladder a little closer.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.