https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 03 Apr 2026 20:26:10 +0000 https://boards.hellobee.com/topic/values-based-budgetsspending#post-2927529 Sun, 02 Oct 2022 06:48:34 +0000 karenbme 2927529@https://boards.hellobee.com/ <p>So we have regular check ins about how to spend our money, and once we had some extra (we’ve shared expenses since right after college) those conversations have definitely included a fewer, better, local focus. I’ve always kept a good budget, but having the resources to direct towards fewer, better things has definitely helped DH get on board with planning purchases, as we consider value and not just filling a gap.</p> <p>I will say, for us, this sort of budgeting hasn’t saved money, but more redirected where our money goes. For example one of our priorities is supporting local businesses and local, sustainable agriculture, which means we spend more on food (particularly meat) than the average household, but we also eat vegetarian ~3 nights a week, and the meat we do buy is extremely high quality and delicious relative to what a lot of the commodity meats out there. One of the ways we offset that is by buying fewer clothes, particularly for me and DH, who don’t outgrow/wear out things often.</p> <p>Ultimately, I feel like having conversations about how you spend your money and getting on the same page about why you’re spending the way you are is always a good thing. Approaching it from a place of hard data (ie what you actually spent in a month or year) and value was really helpful for me in getting DH on board. It’s easy to say “I don’t spend much on X” when you try to remember, but when it’s there in black and white there’s no denying. </p> https://boards.hellobee.com/topic/values-based-budgetsspending#post-2927527 Sat, 01 Oct 2022 20:37:11 +0000 Chuckles 2927527@https://boards.hellobee.com/ <p>Has anyone used values-based spending to get a better handle on your finances? I'm also interested in using it to make sure my spouse and I are on the same page with where we're spending money. I'd love to hear how/if it worked for you. Here's a link that explains what it is:<br /> <a href="https://www.truist.com/money-mindset/principles/budgeting-by-values/building-a-values-based-budget" rel="nofollow">https://www.truist.com/money-mindset/principles/budgeting-by-values/building-a-values-based-budget</a> </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925417 Mon, 08 Nov 2021 07:26:40 +0000 Mrs. Carrot 2925417@https://boards.hellobee.com/ <p>@PurplePumps: thanks! Appreciate the input. Having cash on hand for our parents is priority #1 but because we don't know what we will need, it's hard to figure out the right place to stash it, which is what's making this difficult. Retirement maxing out is #2. I'm not as focused on college, it's really figuring out how to manage the cash savings we have most effectively given the anticipated but very undefined need. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925416 Mon, 08 Nov 2021 07:25:09 +0000 Mrs. Carrot 2925416@https://boards.hellobee.com/ <p>@Lowell: my husband is a fed, and we've looked into long term insurance for our parents through the various channels but none of them made sense in the cost-benefit ratio. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925415 Mon, 08 Nov 2021 07:24:02 +0000 Mrs. Carrot 2925415@https://boards.hellobee.com/ <p>@krispi: thank you so much, I'll check it out. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925414 Mon, 08 Nov 2021 07:23:52 +0000 Mrs. Carrot 2925414@https://boards.hellobee.com/ <p>@karenbme: thanks for this, I hadn't heard of this before! </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925397 Thu, 04 Nov 2021 21:39:26 +0000 PurplePumps 2925397@https://boards.hellobee.com/ <p>What are your goals and in what order? I think the first thing would be to max out the 401k. You can't beat that tax advantage. If your own retirement is at the top of the list, max out the Roth too if you are eligible to. (Check out backdoor Roth if you're not eligible). If you need to access this money in 5-10 years, index funds MIGHT not be quite right imo, you need more time in the market to ride out any waves and the market is at an all time high and a correction has just got to be near. High yield municipal bonds or bond funds might be a good spot to look, there are some tax advantaged ones. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925396 Thu, 04 Nov 2021 19:54:20 +0000 Lowell 2925396@https://boards.hellobee.com/ <p>I know you are in the DC region…are either of you Feds? I’m in a similar situation with my parents and have considered long term care insurance for them offered as part of the Federal benefit package. </p> <p>Second advise to consult a financial advisor - this has been helpful for us for sure. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925391 Thu, 04 Nov 2021 13:45:19 +0000 krispi 2925391@https://boards.hellobee.com/ <p>@Mrs. Carrot: I don't suppose there's any risk in sharing the name of the investment company. It's Facet Wealth. My husband found them online and they had very high ratings. We've been able to do all our meetings via Zoom and have been happy so far. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925386 Thu, 04 Nov 2021 11:20:39 +0000 hilary 2925386@https://boards.hellobee.com/ <p>We basically have your approach but also took a little aside as "play money" that my husband invests in more interesting/risky stocks. I'm very risk adverse so we agreed on a $ amount and then he gets to invest that. It's a bit of no risk, no reward but keeping most of our money locked into non risky investments gives me peace of mind that we're covered even if our risky stocks turned out to be bust. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925383 Wed, 03 Nov 2021 20:00:09 +0000 karenbme 2925383@https://boards.hellobee.com/ <p>I agree with a lot of what’s been said here, and if you want to set it and forget it a target date fund could be a really good option for you, just pay attention to the fees they’re charging. When we started out we used a three fund portfolio (see: <a href="https://www.bogleheads.org/wiki/Three-fund_portfolio)" rel="nofollow">https://www.bogleheads.org/wiki/Three-fund_portfolio)</a> which is a good way to diversify without paying someone else to manage your portfolio. You can choose a bond heavier allocation if you want to go low risk, although if interest rates are about to go up now might not be the best time to buy bonds. Ultimately, though, you can’t time the market and can manage risk by automating buying with timed transfers the same way you are with your employer plans. If you’re willing to take on a little more risk large cap funds are doing really well right now and are the least risky way to go in terms of short to mid term stability. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925379 Wed, 03 Nov 2021 14:41:42 +0000 Mrs. Carrot 2925379@https://boards.hellobee.com/ <p>@periwinklebee: I hear you on the advisors. I'm very risk averse and skeptical about everything and I'd love to just figure it out myself but it's one of those "I don't know what I don't know" situations. I wish there was a one pager that could tell me different options and what to use them for or a flow chart or something LOL #operationsnerd </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925378 Wed, 03 Nov 2021 14:39:44 +0000 Mrs. Carrot 2925378@https://boards.hellobee.com/ <p>@krispi: that's what I've been trying to find but the people I've interviewed have all either been much more investment focused or not quite understanding our situation. I'm going to keep looking but this is what I'd hoped someone could advise me on and we haven't quite found the right fit. If you have tips on a service or where you looked for yours, I'd love it! </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925377 Wed, 03 Nov 2021 14:38:26 +0000 Mrs. Carrot 2925377@https://boards.hellobee.com/ <p>@bhbee: that's what we're thinking right now. I'm trying to figure out how the additional withholding for 401Ks will affect our cash flow month to month (since we're already withholding at max for taxes anyway). My husband's thinking is that we'll dip into savings to cover any expenses that our cash flow doesn't cover to basically maximize retirement and reset withholding if cash flow doesn't work but I haven't fully wrapped my brain around that yet. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925376 Wed, 03 Nov 2021 14:36:38 +0000 Mrs. Carrot 2925376@https://boards.hellobee.com/ <p>@Anagram: this is a big concern of mine. I'm very risk averse so anything investment related makes me nervous but I'm trying to be strategic about it since we're in our early 40s and are in decent shape financially. We also owe taxes every year despite max withholding (and not selling investments) so part of the savings is definitely a hold for that. Thanks for the tips! </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925361 Wed, 03 Nov 2021 09:00:40 +0000 periwinklebee 2925361@https://boards.hellobee.com/ <p>I think @bhbee: 's advice is great. Contribute the max you can pre-tax and once that is maxed out, given you may need the money pretty soon to help with expenses related to your parents, the target retirement funds with near dates make a lot of sense. The large funds like Fidelity and Vanguard are very heavy regulated and won't screw you on fees - sure you could get a much higher return if you play i.e. crypto right but the risk is enormous whereas the risk with the large financial institution target funds is quite low - they will go up and down but not to the same extremes as riskier alternatives and on average it will still be a much better return than a bank account. I'd urge caution with financial advisers, there are some good people out there but also lots of unqualified people selling horrible investments that benefit them, not you. We have a relative who falls into the latter group and it's honestly disgusting, but anyways... </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925360 Wed, 03 Nov 2021 08:20:20 +0000 krispi 2925360@https://boards.hellobee.com/ <p>We were in a similar situation earlier this year - no debt except house and 1 car, savings in just a regular savings account but for the first time in our lives more than what we needed for a regular emergency fund, and not knowing the best place to invest it. We began working with a financial planner that specializes in our age bracket and income level (a lot of planners are geared toward the wealthy). Now we have a diversified mix - a low interest savings account for our emergency fund, a regular savings account for annual travel and such, and a mix of IRAs and mutual funds (both joint and solo - we rolled some old things over), in addition to our regular 401(k)s through work. The best part is that he was able to set everything up for us and run the projections to show us what we'll hopefully have at retirement. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925359 Wed, 03 Nov 2021 08:05:52 +0000 Lahela017 2925359@https://boards.hellobee.com/ <p>@bhbee: I was going to say the exact same thing. This is what my husband and I do, except for the 401k. His company doesn't offer any retirement plans, so we both have IRAs set up and then extra goes into our target date brokerage account. We talked it all out with a financial advisor, but I'm not sure that was necessary. It gave us peace of mind that we were doing the right thing though. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925358 Wed, 03 Nov 2021 06:52:01 +0000 bhbee 2925358@https://boards.hellobee.com/ <p>I’m no expert but I’d try to max out your own retirement through 401k and Roth and then perhaps buy target date index funds through a brokerage account if you want access to some money in the near future for your parents. You should be able to do that with minimal/zero fees and then they take care of the appropriate asset allocation for your timeline and you can access as needed. Like the Vanguard 2025 retirement index fund (or 2030, or whatever) would provide a little more risk/reward than savings but be appropriate to your timeline. Just something to look into. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925357 Wed, 03 Nov 2021 06:39:35 +0000 Anagram 2925357@https://boards.hellobee.com/ <p>For this stuff, I really like the Bogleheads website forums. If it’s cash you need access to for emergencies, the only drawback I can think of for a regular brokerage account would be the tax hit you’d take that particular year for selling if you’ve made any profit. </p> <p>Last year, we sold some stock for a down payment on a vacation house and when it was tax time, even though we have the absolute max taken out of every paycheck, we still owed 8k because of the stock selling. So that was fun. </p> <p>You can also have ups and downs on the stock market so if you are at a point where you NEED the money for something related to parents—moving them to a nursing home or something—and you are forced to sell during a downturn, it could be bad timing. Our 401ks have been wild the last 2 years—down 30% in a week, then regained al the and more several weeks later. We’re in it until retirement so we try to not care at all but it can be wild to see your accounts go down by tens of thousands in one day. </p> https://boards.hellobee.com/topic/where-do-you-stash-your-savings#post-2925355 Wed, 03 Nov 2021 06:05:56 +0000 Mrs. Carrot 2925355@https://boards.hellobee.com/ <p>I've been in the process of interviewing financial advisors and am not quite finding the answers I am looking for so I figured maybe this group might have ideas :)</p> <p>After selling our house 2 years ago and with the change in our childcare expenses and commutes thanks to the pandemic, we've been lucky to build up a healthy savings account. Our finances are pretty typical - no debt except a mortgage, two earner household with max withholding, no side hustles/rental incomes/etc; we file a pretty basic tax return, in case that matters for this purpose. We both contribute to our employers' 401K plans, though not maxing out our contributions right now and that's something I'm already trying to do the math on. </p> <p>Right now our savings are sitting in a basic online savings account, and I want to manage it more strategically. My thought is to leave a small amount in that account for emergency expenses and buy 2 Roth IRAs for DH and I, but after that, I'm stuck on what to do with the rest. I don't want to open a college savings account for a variety of reasons (we're in VA and have a 529 plan) but I could be convinced otherwise. Big picture, we're anticipating having to contribute to our parents' expenses as they retire in the next 5-10 years. We're both children of immigrants and neither set of our parents saved for retirement so beyond Social Security, they won't have much to live on. My husband is thinking a lower risk investment account might be the path forward so that we have access to the funds easily. I'm wondering what options I might not be considering. </p> <p>Any tips or ideas? Any good places to read up on this? I've been at this for a few months now and am not quite finding answers that resonate. </p> <p>Thanks! </p> https://boards.hellobee.com/topic/gift-certificate-dilemma#post-2924389 Sun, 18 Jul 2021 22:42:19 +0000 ALV91711 2924389@https://boards.hellobee.com/ <p>I would ask if they would extend it. If they want you to use it now then just leave a big tip. </p> <p>We went to a restaurant a couple months ago a couple days before they closed again. We had a gc that we used so we left our waiter a huge tip. He was grateful. </p> https://boards.hellobee.com/topic/gift-certificate-dilemma#post-2924220 Wed, 30 Jun 2021 20:57:12 +0000 Lahela017 2924220@https://boards.hellobee.com/ <p>I think I would use it and leave a larger tip than normal, but you can't go wrong with asking what they prefer either. </p> https://boards.hellobee.com/topic/gift-certificate-dilemma#post-2924208 Tue, 29 Jun 2021 14:25:10 +0000 erinbaderin 2924208@https://boards.hellobee.com/ <p>First of all, Toronto? :wink: </p> <p>Secondly, I’d just ask them what they prefer. I would think, given the extended lockdown, the expiry of the gift certificate would be extended anyway. I’m in a bit of the same boat, just outside Toronto and have a gift certificate to a local restaurant that I bought at the beginning of all this to support them and now I’m not sure if it’s safe to use it yet, with indoor dining still closed, etc. </p> https://boards.hellobee.com/topic/gift-certificate-dilemma#post-2924207 Tue, 29 Jun 2021 14:13:01 +0000 poppygirl15 2924207@https://boards.hellobee.com/ <p>I would ask about option B &amp; if they just want you to use the GC, then I'd leave a larger tip than usual. </p> https://boards.hellobee.com/topic/gift-certificate-dilemma#post-2924206 Tue, 29 Jun 2021 13:34:11 +0000 MLE81 2924206@https://boards.hellobee.com/ <p>Hi all, looking for some advice/perspective here.</p> <p>I live in a city/region where hair salons have been closed since November 2020. They reopen tomorrow and I have an appointment on Friday.<br /> Here’s my dilemma: I have a gift certificate to cover my services that also expires at the end of July. However, I’m feeling guilty about using it as that means no (new) revenue for my appointment.</p> <p>Wondering if I should:<br /> A) Use it but leave an extra large tip<br /> B) Ask them if they are willing to extend the expiry date until my next appointment and just pay for my services on Friday<br /> C) Decide to forgo the certificate altogether and never use it</p> <p>If it makes a difference, the stylist who I’m seeing is also one of the salon owners. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922356 Thu, 04 Feb 2021 13:33:23 +0000 graceandjoy 2922356@https://boards.hellobee.com/ <p>@agold: I have AIG and I had an agent priced stuff out for me and they were the lowest. </p> <p>Agree with what other people are saying; 10x our salaries for the next 20 years. So if one of us dies, the other can take care of after-life stuff, operate on having two incomes, have college, etc for kids taken care of, can save some of that as if we keep contributing to retirement, etc. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922347 Thu, 04 Feb 2021 11:11:55 +0000 agold 2922347@https://boards.hellobee.com/ <p>I’m just jumping in here because DH and I decided it’s time to supplement what we get through work. You girls with 10x your annual incomes - Please tell me who you have your insurance through if you think you are happy with them. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922174 Tue, 19 Jan 2021 14:51:22 +0000 ALV91711 2922174@https://boards.hellobee.com/ <p>@Corduroy: I think it’s smart to have a policy that is outside of work. No matter how secure your job is you could lose it and your benefits. If I have anything through work I consider it a bonus. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922157 Mon, 18 Jan 2021 15:36:02 +0000 Corduroy 2922157@https://boards.hellobee.com/ <p>Following because increasing my life insurance is literally on my to-do list. I have 2x my salary through work. I plan to get additional insurance privately (not through work) so my benefits won't be tied to my employment. </p>