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TO: Fellow Christian Onliners FROM: Jim Bramer, Retired CPA RE: Computer/Internet SPENDING CONTROL systems UPTD: October 18, 2006 Welcome to this Web Page, Fellow Christian Onliners, as we share via this "Onliner Memo" format.
Mission StatementOur objective is to assist you do your personal bookkeeping as you control your spending via the appropriate use of the Computer/Internet SPENDING CONTROL system. Please Click Here and go to a web site that we established in July 2006 in pursuit of SPENDING CONTROL assistance to both you Fellow Christian Onliners as well to Small Ministries, that we define as handling $500,000 or less per annum. Such a resource can integrate with you being with such groups that are listed when you Click Here. You need to consummate your personal commitment to be Godly stewards of your fiscal affairs as you account for the money you earn and you incur/pay bills primarily via the righteous use of BOTH Credit Cards and Checks.
A recent study of consumer payments indicate that more and more consumer spending is being done via credit/debit/prepaid cards and are used now for 53% of store purchases, while cash or checks are 47%. Plus the average household owns from 7 to 13 of such credit/debit/prepaid cards. Please go to Plastic and read our June 2000 publication on the general topic of using Credit Cards as a tool. Please manage your affairs so you make such resources a blessing and not a curse.
Remember -- the emphasis here is "Spending Controls" using the Computer/Internet and not necessarily accounting for tax or investment purposes.
By the way ----- Mr. Steven B. Smith has written a story about the use of the Envelope Spending Control system as an alternative to the usual budget process. It is a free e-book when you read it Online as a result of accessing http://www.mvelopes.com/files/Money_4_Life.pdf -- I really think you will enjoy it.
Other information about Spending Control System is found in the folder when you Click Here. Let me know at Jim@bcidot.org is you have any comments/questions.This "Spending Control System" (1) - involves at least the following:
1> You define "Spending" areas of your life. See the Committed Areas shown in the sample report below. One family has set up an Envelope (Box) for each of the following:
Auto fuel, Auto insurance, Auto loan; Auto Maintenance, Clothing, Entertainment, Regular Church Donations, Bldg Fund Pledge Donations, Food - groceries, Food - eating out, Gifts - birthday, Gifts - Christmas, Her Spending, His Spending, Home-insurance, Home-Maintenance, Home Mortgage, Life insurance, Medical Expenses, Dental Expense, monthly memberships, Utilities, Internet costs, and Misc Costs.
Perhaps you should begin with such Envelopes (Box) found in the report sample below and expand only when you need better control in a particular Life Style area of your life.
2> You determine in advance how much of your available money goes into these "Spending" areas and you place all of your money upon receipt into the applicable Envelope (Box). When you Click Here you might find of interest an editorial where I have suggested a certain three phases in conjunction with "Spending".
3> You make full and timely use of "Internet centric" (Internet Friendly) resources and contemporary accounting tools mentioned more in depth below. You use BOTH Credit Cards and Checks as tools when you do your prudent buying from the available balance shown by these virtual Envelopes (Boxes). Please see Methods below. You discipline yourself in such matters as:A. You thoroughly understand weekly reports that include the most current Credit Card and/or Bank activity. The sample report below was produced near the end of the month (5)
10-ABC Bank Accounts
$3,862.60
19-"BuyNowPayLater" Enabler - Click for more info
$
Total $3,862.60
22-Due XYZ Credit Card Co
$1,541.71
30-Spendable Balances
31-For Church Donations
$ 300.00
32-For Life Style Costs
$ 220.89
33-Mortgage Paymt due the 5th
$ 985.00
$1,505.89
40-SetASide (or Escrowed)
41-For Upcoming Events
$ 600.00
49-For Discretionary Purposes
$ 215.00
$ 815.00
Total $3,862.60
B. The family buyer always knows how much money there is to spend during the following week within each spending area of their life (or per the balance within the applicable virtual Envelope -Box and makes appropriate buying decisions therefrom. Example: the $220.89 above in the Life Style Costs Envelope-Box means, of course, that $220.89 is all that you now have for that purpose.
C. You make no buying decisions simply based on your Bank or Credit Card account balances.4> You make full use of the monthly "Float" or "Buffer" period that your Credit Card Co allows you -- or you righteously "buy now and pay later" with no interest/fee costs. Please Click Here for more info on this topic. See the $1,600.00 in the Sample above. Please note the following Methods/Levels as you utilize this system. (6)
Spendable Controls System METHODS and LEVELS (2)
When you are ready to pursue this, please contact me at Jim@bcidot.org for a personalized dialog as to the appropriate Spending Control Method that is outlined below that best meets your unique needs.Method A (11) - This method embraces the software products indicated below. Prior to August 2004, we emphasized some of this software and used the terms Quite Virtual Envelopes (QVE) or BuxBoxes. These terms are used when you view resources found in the folder at: Righteous Personal Finance-RPFin.
Level A-1 -- There is no reason to use the expensive new QuickBooks (QB) versions. Go to www.ebay.com and acquire older versions of QB as explained when you Click Here and go to a QB Envelope (Box) Tutorial that walks you through the use of this product and provides you with Spending Control report samples.
Level A-2 - Via Crown Ministries Money Counts .
Level A-3 -- Via older versions of Quicken or Money -
Level A-4 -- Via a product known as Make $ Cents -Method B (12) - Use of the Mvelope "cutting edge" Internet and Computer resources - Click here for our in depth analysis of this software. We are so very pleased to learn that www.crown.org is endorsing this product. One feature of this product allows your Bank and Credit Card transactions to electronically flow into your Mvelope Envelope system.
Level B-1 -- Use all of the features of the Mvelope, eBilling and Online Banking software for your Spending Control system..
Level B-2 -- Use of afore-mentioned Mvelope, plus eBilling and Online Banking software for the Spending Control system. But you manually enter only portions of your Bank and Credit Card activity into this system.
Level B-3 (10) -- Use of afore-mentioned Mvelope for the system, but you manually enter all of your Bank and Credit Card activity into this system.Please Click Here and go to a comparison of the above software within context.
Let me know at Jim@bcidot.org if you prefer to maintain your personal financial activity manually, or you are not comfortable using Computers, or the Internet, as you manually do your virtual Spending Control record keeping and/or reporting that includes Checks and Credit Cards. I have some ideas that might be of help to you.
LINKS TO www.bcidot.org RELEVANT CONTENT - OR ONLINER DOCUMENTS (3) -
Please let me know at Jim@bcidot.org if you have any comments or questions about any of the following:
LINKS TO RELEVANT CONTENT ON OTHER WEB SITES (4):
Please let me know at Jim@bcidot.org if you have any comments or questions about any of the following:
Internet Resources Click and Access Link Contents: 101-Bills.com Online info http://www.bills.com/about.htm 102-Bills.com who you can pay via http://www.bills.com/billers.htm 103-eBill Payment - Common Questions Click Here for Long Link 104-Email - Pay bills via http://www.myonlinebillpay.com/ebill.php 105-Email - More "payments via" info http://www.ugotmoney.com/what_or_how.html 106-Make $ Cents system Click Here for Long Link (9) 107-Mvelopes - Envelope System Questions https://my.mvelopes.com/mvelopes/common_questions.php 108-Mvelopes Web Site (8) http://www.in2m.com 109-Mvelopes Forum or Message Board http://www.in2m.com/forums/index.php 110-Online Banking - What is it http://www.bankrate.com/brm/search/story-online.asp 111-Online Banking info http://www.myonlinebillpay.com/online_banking.php 112-Online eBill Payment Web Site http://www.myonlinebillpay.com/ 113-Personal Online Finance Management http://www.personalfinancebudgeting.com/ FINIS:
Be sure and contact me at Jim@bcidot.org if you have any comments or questions about any of these matters. Remember -- It is my desire to encourage you in your Christian walk and to be "Your Servant for Jesus Sake:" II Corinthians 4:5B - Originated August 2004. Thank youEmail Address: Jim@bcidot.org -- Phone: (559) 298-5507
Mailing Address: 2628 East Goshen Ave. - Fresno, CA 93720
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