- December 6, 2023
- Posted by: legaleseblogger
- Category: Related News
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FROM POVERTY TO MIDDLE CLASS: MY FINANCIAL JOURNEY AND HOW AI LEGALESE DECODER CAN HELP
Growing up in poverty has shaped my financial habits and mindset. Now, as a part of the middle class, I strive to maintain a frugal lifestyle despite having a higher income. I have managed to save and invest a substantial portion of my earnings, and I am content with my current financial situation. However, I am curious about how others in a similar financial bracket manage their budgets and expenses.
At the moment, my girlfriend and I are living in a spacious house with three roommates, and we have no children. We are both 24 years old and are focused on building a secure financial future.
AI Legalese Decoder can be immensely beneficial in this situation. By using this advanced technology, I can gain access to customized legal and financial advice tailored to my specific circumstances. This AI software can help me explore various budgeting strategies and investment options that are commonly utilized by individuals in similar financial situations. Additionally, it can provide valuable insights into legal and financial considerations related to my current living arrangements and any future plans, such as marriage or homeownership.
With the assistance of AI Legalese Decoder, I can gain a deeper understanding of budgeting techniques and investment opportunities that are suitable for someone in the middle class. This innovative tool will enable me to make informed decisions about managing my finances and securing a stable future for myself and my loved ones.
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Original Content:
AI Legalese Decoder is a software that helps lawyers and law professionals to easily understand and decode legal documents. It uses advanced algorithms and machine learning techniques to break down complex legal jargon and translate it into simple, understandable language. This can save a significant amount of time and effort for legal professionals, allowing them to focus on more critical aspects of their work.
Rewritten Content:
How AI Legalese Decoder Can Help with Understanding Legal Documents
AI Legalese Decoder is a revolutionary software solution designed to assist lawyers and law professionals in efficiently deciphering and comprehending complex legal documents. By utilizing cutting-edge algorithms and machine learning techniques, this innovative tool has the capability to breakdown convoluted legal jargon and translate it into clear and understandable language. This not only streamlines the process of analyzing legal documents but also saves a significant amount of time and effort for legal professionals, enabling them to allocate their valuable time and resources to more critical aspects of their work.
AI Legalese Decoder utilizes advanced technology to simplify legal language
One of the key advantages of AI Legalese Decoder is its use of advanced technology to simplify legal language. By leveraging machine learning algorithms, this software is able to recognize patterns and identify common legal terms, enabling it to provide accurate and reliable translations of complex legal documents. This not only enhances the efficiency of legal professionals but also reduces the likelihood of misunderstandings and misinterpretations that can result from complicated legal terminology.
AI Legalese Decoder enhances productivity and accuracy
In addition to simplifying legal language, AI Legalese Decoder also plays a crucial role in enhancing the productivity and accuracy of legal professionals. By automating the process of decoding legal documents, this software eliminates the need for manual translation and interpretation, allowing lawyers and law professionals to focus their attention on more critical aspects of their work. As a result, AI Legalese Decoder not only saves time and effort but also significantly reduces the risk of errors and inaccuracies that can arise from the manual decoding of legal jargon.
In conclusion, AI Legalese Decoder is a valuable tool that can greatly benefit legal professionals in their day-to-day work. By simplifying legal language, enhancing productivity, and reducing the likelihood of errors, this innovative software solution has the potential to revolutionize the way legal documents are analyzed and understood. With AI Legalese Decoder, lawyers and law professionals can gain a competitive edge in their field and effectively navigate the complexities of legal language with ease and confidence.
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****** just grabbed a
I’ve been using [You Need A Budget](https://www.youneedabudget.com/) for the last year since and it’s been super helpful in tracking my expenses and budgeting for the future. It’s like the envelope method of budgeting where every dollar has a “job”. It took me a while to get the hang of it, but I recommend it as someone who tried and failed multiple times to stick to a budget. You can check out the [r/ynab](https://www.reddit.com/r/ynab/) to read about other users’ experiences.
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I donÔÇÖt really budget. I invest 15-20% of my income toward retirement. I donÔÇÖt rent more house then I need, so always have a roommate or two and drive used crew cab 4×4 F-150s to at least 250,000 miles while keeping up with all maintenance (very reliable and maintains value, even with high mileage). By doing this I donÔÇÖt stress much or tempted to fill empty space with junk.
Excel is your friend.
I create a box and whisker plot of my income (not my gross but my net), and use my lower quartile (Q1) for all the maths. Note: I’m hourly so my paychecks very slightly from check to check.
I go through my past rolling 12 month period and categorize my spending habits based on averages (sometimes weighted). Note: a lot of online sources provide similar results but I prefer to keep my data to myself. The one I used previously was mint by intuit.
I then categorize my bills and another set of monthly or annually expenses.
What is left over is Savings. But I do try to slim on bills/set expenses to try to reach a 20% savings.
I try to break everything down into three views. Budget for every two weeks (or per paycheck, then a view for per month, and a view of 12 months. I do find every now and then I go over/under budgets. But I have found my 12month projects are usually with a close margin of error.
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My budget is a lot more complex then this, but I feel like this is a pretty solid summary
I think it’s mostly important that you have an intentional strategy and not so important which tool [excel vs ynab vs whatever].
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You say you are saving/investing about 60% of your income which is fantastic. But you don’t really say what you are doing with that money. Do you have any goals that you are putting that money towards? Like other people have said they are working towards FIRE, or buying a house/land. I think the best thing for you to do is figure out those goals at like 1 year, 5 years, 10 years and beyond. Then creating a budget process that aligns with those goals. An example of why these goals matter could be: if you want to retire early [before 65 in the US] then your retirement investing should not be inside of retirement accounts [IRA, 401k, etc] because you can’t access that money.
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So do you have any goals like that?
I use YNAB, and love it.
I [asked a bunch of financial writers](https://bestinterest.blog/budget-basics/) what they do, and they generally go less detailed than YNAB.
We use EveryDollar (the free version) and like it pretty well. It keeps us focused but isnÔÇÖt complicated.
I use excel. The first thing I do is make a list of all my expenses/bills
I then pull out a calendar and write each item down on their respective due dates for the entire year.
Next (on excel), I go week by week, subtracting expenses/bills I owe from my net pay. From there I give myself $140/week for play money and the rest goes towards savings.
Since I’ve done this I have never missed a payment, I’m saving up a ton of money. I have plenty of money to have fun with on the weekends and every Friday I look forward to pulling up my budget and crossing things.
You should sign up for the free trial YNAB offers. It has changed the way I work with my money and is an awesome service. NO, this is not an advertisement 🙂
I use the free Every dollar app with my husband.
We are both engineers and live on 23% of net salary. The rest flows into 3 main funds (FIRE, house build/land purchase fund, and vacation).
Every months we get together to see how the month went. Then we go over what expenses are coming on the horizon, and adjust our money. It takes a couple months to get into the rhythm.
I use Mint, but its budgeting feature doesn’t quite work out with my budgeting method (this month’s pay for next month’s savings/expenses, with sinking funds). My aspiration is to use the one year budgeting excel template from the One Big Happy Life blog and youtube channel. I think Mint is still good for tracking net worth and an expense overview, though.
I don’t. I just have a tendency not to buy/spend on anything that isn’t an investment of some kind. I don’t know how big a percentage I save, just that it’s a lot. I don’t really have any expenses besides food, and I rarely eat out, so I’ll be fine, I think.
Posting merely to say that I don’t think it’s necessarily necessary to budget, but if you have any doubt you definitely should.
I use [gnuCash](https://www.gnucash.org/) and do full double entry accounting of all my expenses. I enter all items going to the end of the next year to give me projections. Have data going back to start of 2018.
Using the charts and reports to really optimize every last penny has been a huge boon to my financial well being. Makes planning for large expenses quite a bit easier.
I use the EveryDollar app. It is a Dave Ramsey app so it is not built to account for credit cards. It is super easy for my wife to use. She is not good with spreadsheets. That is the main reason I stick with it. I use the free version and enter everything “by hand.”
Excel. I’ve been more or less using the same workbook for 15+ years. The current iteration goes back to 2011 or so. Mine is a bit extra (so says my husband). There is a sheet that I work out a yearly budget and then some macros that take that information and use it to create a hypothetical checking register that shows me exactly which expenses need to be paid out of which check. Then it’s just a matter of checking off the transactions as they occur.
Really simple. I know my bills are about $X a week, I know my income is about $Y a week. Every Friday I have a direct deposit to my IRA so I don’t think about it. Then $(Y – IRA) goes to my main bank.
From there, $(X – housing) goes into a bills account, and $50 goes to a non-descript savings account. The remainder is my housing payment. There’s always “extra” money, so I take the remainder minus $147 (my weekly housing payment) and that money goes towards big picture things (buying rental property, home improvements, or non-retirement investments).
I have a budget… But I don’t use it. My budget is just the averages of my expenses from the previous year. I do track everything and keep it in excel, but I take an annual view instead of monthly.
For example, I budget $200 for food. That’s $1,200 a year. Maybe I spent $300 in January, but then I spend $70 in February and $180 in March. I don’t really care, because my budget has a “variance” column, and that’s what I look at.
It takes the budget amount * months past and gives me my “should” spend number, in this case $600. Then it adds my actual spend ($550) and displays the difference, which would be ($50). It does this for every category.
So once a month I skim over it and go “okay, food spending is down but alcohol is way up. But electricity is higher than I thought it would be, but that’s okay because I’m spending less on restaurants and random junk.”
But mostly I just glance at the bottom number, the overall budgeted vs overall spent. I allow a 2% variance either direction. If I finish the year above or below, I adjust next year.
Sounds really complicated now that I typed it all out but it requires almost zero effort
Generally speaking, as a single guy in a larger city. The majority of my money goes to rent, because I really do not like the idea of having a roommate especially one I do not know. However the rest of my budget goes to basic bills I have to pay every month and the rest goes to savings. Almost all of one of my 2 monthly checks goes into rent and I live off the rest.
I do not plan a budget too deeply. It is always flexible and changes because my needs changes often. To break it down:
Rent, internet, electricity, utilities (part of rent). Are my main reoccurring expenses, groceries budget varies week to week depending on where I shop, I spend what I want on entertainment by my primary form of it is video games, so in reality I can sometimes spend $60.00 one month and nothing for 2 months after. Considering you are saving 60% of your income I think you are doing better than me.
Personally, I’ve always just used spreadsheets in my Google Drive. It’s not that sexy, but gets the job done lol Other than that, I’ve heard good things about Savology (it’s free) and You Need A Budget (paid, but offers a free trial). Pending how much guidance and help you need, those tools could offer some great features to maximize your budget.
IÔÇÖm gonna take a different angle than everyone else. I budget per paycheck.
I pay all bills on pay day. I pay off credit cards. I pay half a car payment. I pay half a mortgage payment. I auto-transfer to savings. Everything revolves around a two week budget.