Questions, Questions
There sure are a lot of questions coming into the website. I had intended to answer one a week, and maybe when it slows down a bit I can get down to that. For now, the questions are coming fast and furiously and I’m running hard to keep up. I’m sorry I can’t answer them all, but there just aren’t enough hours in the day, people.
Some of the questions are on a theme: Lots of people want to know what goes into the jars or how to budget. That’s why I created the interactive budget (look to the right under Blogroll and you’ll see all this worksheet and guide to using it). I’ve also added the worksheet for figuring out how to get out of debt, along with the holiday shopping worksheet to the Blogroll, along with their instructions. There. Now they are easy to find. Another frequent question: Do I take private clients? Are you kidding me? Like my days aren’t long enough? And by the way, since y’all are so deeply in debt, how could you afford to pay me? I’ve given some guidance on where to seek answers or you can ask questions and work it out using the website tools as a guide. People often ask when I’m coming to their part of the world. Hmmm. Since I visit each family four times over a month, shooting outside of Ontario would be a traveling nightmare, even assuming I’d be willing to leave my kids (which I am not.) So all you people all over the country, don’t be holdin’ your breath. I don’t want you turning blue on my behalf. I can tell you that I intend to add more and more to this site because I can’t get to all of you privately or on the show. Since I can’t possibly visit all the people who need help, I want y’all to treat this website as a virtual me. Each question you ask helps others, and every tool I put up can be used by everyone who needs that help. If there are specific things about money you find challenging, let me know and I’ll see what I can do to help. The site is getting some good traffic, but the more people who see it and share their ideas (that’s what the Have Your Say is supposed to be about) the better the site will get. If Have Your Say gets busy enough, I may replace it with a discussion board. The problem I have with that right now is that I can’t possibly monitor it myself (time) and I don’t believe I can leave it unmonitored (too many potential yucky things said). So I’m waiting to see how much real demand there is for a discussion board before leaping in. I want to thank y’all for the great response and for the love. It’s great hearing how well y’all are doing, watching the show, applying the things you see. And I want to be able to help as many of you as I can. Be patient, tell me what you need (be persistent), and pass on what you’re learning to other toadies. Keep the faith, take small steps, move towards your goals. And tell me what you want need. You’re the ones driving this bus. Where are we going next?
December 6th, 2007 at 7:24 pm
Hi Gail! Thanks for this website and answering my question about having a baby on the way. I’m going to stay tuned for tips and hopefully rangel this little one into being a financial genius
December 11th, 2007 at 7:09 pm
Hi Gail,
I wanted to say please do more episodes with young couples. Me and my hubby - another young couple - very much enjoyed the one where one guy was gambling and the other girl was a shopaholic.
You are doing a great job!
December 12th, 2007 at 7:41 pm
Thanks Shirey. I’m just wrapping up season 5 (season 3 is on air right now) and there are plans to do more next year. If you know people in the Toronto area who would benefit, tell them to apply.
December 13th, 2007 at 12:56 pm
Gail,
As my “go-to-guru” I am seeking your advice.
I have a conundrum. My fiancee and I are just starting to live frugally and get our debt under control but she is scheduled for surgery at the end of January and will be off for approximately two weeks.
The problem is, she is a hairstylist that earns her living on commission and tips. I work for the Federal Government and my salary can just cover the month’s fixed expenses and some variable expenses. We rely on her salary to pay for things like groceries, gas, auto insurance, cell phone bill, etc.
We have some savings, but I do not want to use them unless absolutely necessary. Similarly, our car needs new tires and brakes and she needs a new flatiron for her job. Im not sure how we can afford to do it all and still pay our creditors.
If possible, can you give some tips on how couples can budget for variable salaries like hairstylists or how to tackle my “bump in the road”?
December 14th, 2007 at 8:38 pm
One of the things self-employed people have to learn to do is put aside money above and beyond what they need for those months when they are a little short. Let’s say you decide that your fiancee’s income needs to be $1200 a month to cover all the stuff you can’t. If there’s a month where she makes $1600, you don’t spend the extra $400… you bank it for a month (or two) when she’s short of her $1200 mark. As for dealing with her being away from work for two weeks, that’s what an EMERGENCY FUND is for. I think you’re going to have to dip into savings unless you can find a way to make some extra money fast — think of some of the things I ask my couples to do to make more money — to cover the shortfall.
December 17th, 2007 at 8:51 am
Thanks Gail! Great tips….my fiancée is going to be soooo excited that you responded to our inquiry! She views you as a “third mom”! We’ll definitely put your tips into practice. GAIL VAZ OXLADE FOR MINISTER OF FINANCE!
February 6th, 2008 at 1:39 pm
I am considering paying my mortgage using my credit line and then pay that when I can, my rate is 5.25 open variable on the mortgage. But I think credit line might be higher still, but have you heard of anybody having any success using this method. I owe about $90,000 and mine is only income in my house. I have 2 dependants.
February 6th, 2008 at 2:57 pm
Why in heaven’s name would you want to pay your mortgage from your credit line, Karen? That’s insane. You’d be paying more than double the interest.
February 7th, 2008 at 11:27 am
Hi Gail, I love your show.
My question is what percentage of my income should be allocated to bill, food, savings, gas, etc.. Between me and my fiance we make enough money to make our bills and we should have 1500 put away at the end of the month but we seem to never have anything. We also have 2 children together and I am on mat leave. I see the “jar system” that you use and would love to start that but I am never able to know what each one is for or how much of my money should go into it. Please help.
February 7th, 2008 at 12:50 pm
Tina, go to http://www.gailvazoxlade.com/articles_f/article31-2.htm which is Gail’s Guide to Building a Budget.