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Planning My Money: How Much Do I Need?

In summary, Jenn is planning on bringing her debit/credit card, $50 in cash for incidentals, and $500 in total spending. She is excited to see all of her friends at the conference, but wishes she could join them.
PChefAbey
215
money are you planning on taking with you or spending. I want to make sure I have enough!

Thanks
 
I am just bringing my debit/credit card... Do you think cash is necessary?
 
I would bring about $50 in cash for incidentals like if you need to get a cab or use the mass transit or tipping people. However, stick with your CC and you will be fine.
 
What you buyin??If you are using your debit card, you might want to check out what your daily limit is. For example, if you are putting your hotel on there and then plan on using it for dining, shopping etc. You might go over your daily limit..then you are stuck with nada!!!

I always take at least $100 in cash. Then I can pay for snacks or food at the airport, we drive from Wyoming then fly out of Salt Lake City, and still have some money for buying a few things before I have to worry about an ATM. I find it easier to always have some cash just in case!

I also take $20 in $1 bills for tips. By the time I tip the parking attendant at the air port, the sky cap going, the sky cap once there (if needed), the taxi or shuttle driver and the bellman at the hotel I have went through almost all my $1s.

As far as how much I am spending??? Good question...I usually allow myself $500 total including hotel. But do I spend that much, usually not! But when I travel (children free) I don't skimp on food and such!

Can't wait to see all of you there!
 
Last edited:
:( I wish I could go too!:(
 
  • Thread starter
  • #6
I meant how much do you plan on spending, not how much cash you are carrying with you, I hate carrying a lot of cash with me.
 

Related to Planning My Money: How Much Do I Need?

1. How do I determine my monthly budget?

To determine your monthly budget, start by calculating your total monthly income. Then, make a list of all your necessary expenses such as rent, utilities, groceries, and transportation. Subtract your expenses from your income to determine how much you have left for discretionary spending. It is important to also set aside some money for savings and emergencies.

2. How can I save money on a tight budget?

If you are on a tight budget, try to cut back on unnecessary expenses such as eating out or subscription services. Consider finding ways to reduce your monthly bills, such as switching to a cheaper phone plan or negotiating a lower interest rate on your credit cards. You can also look for ways to increase your income, such as taking on a side hustle or selling unwanted items.

3. How much should I save for emergencies?

Financial experts recommend having an emergency fund that can cover 3-6 months of living expenses. This includes rent, utilities, groceries, and other necessary expenses. If you have a stable income, aim for 3 months of expenses. If your income is less stable, aim for 6 months of expenses. It is important to have this emergency fund in case of unexpected expenses or job loss.

4. Is it better to pay off debt or save money?

It depends on your individual situation. If you have high-interest debt, such as credit card debt, it may be better to focus on paying it off first. This will save you money in the long run. However, it is also important to have some savings for emergencies. Consider creating a plan to pay off your debt while also putting some money into savings each month.

5. How often should I review my budget?

It is important to review your budget regularly, especially if your income or expenses change. It is recommended to review your budget at least once a month. This will help you stay on track and make any necessary adjustments. It is also a good idea to review your budget at the end of the year to see if there are any areas where you can make improvements.

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