The Minterview Personal Finance Interview with Chanpory Rith of LifeClever.com ;-) Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Mint Published Jun 27, 2007 2 min read Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. Name: Chanpory Rith Age: 26 Net-worth Range: Just above $0 Profession: Interaction Designer Websites: LifeClever.com Current Financial Strategy: For a brief period, I tried tracking all of my expenses on my trusty Sidekick phone. Any transaction, even as little as a candy bar purchase, went into my phone. I thought this would give me an idea of what I should budget and cut back, but it just ended up being tedious. I’d always forget one or two transactions. Instead of creating a super detailed budget, I now use the 60% solution by MSN Money’s Richard Jenkins. My income breaks down like this: 60% Committed regular expenses: rent, utilities, food, taxes, gym membership. 10% Retirement: 401(k), IRA. 10% Long-term savings: Stocks, future vacations, major furniture purchases. 10% Irregular expenses: Repairs, Unexpected medical expenses, 10% Fun money: Anything I want. Best Financial Tip: Most utilities and credit card companies will allow you to adjust what day of the month your bills are due. If you get paid twice a month, adjust the due dates of your bills so that they don’t fall on the same half of the month. The goal is have every paycheck break down the same way each time. It’s just easier to remember. You also avoid a situation where most of one paycheck goes to bills, leaving you little for other expenses during that half of the month. Worst Financial Move Ever: Getting too many credit cards. Financially, I need help with: Resisting the urge to buy gadgets and designer furniture. Learning how to cook Retirement planning Investing What personal finance tools do you currently use to track and manage your money? I use Google Spreadsheets to calculate my income and expenses using the 60% solution. What are the problems in your personal finance tools? Google Spreadsheets isn’t directly connected to my online banking information. So it’s difficult to see if I’ve truly made my budget goals. How would your ideal personal finance tool work? Although I hate manually recording every purchase, I could see how seeing itemized transactions would be useful. Ideally, this would be done automatically through some clever analysis of debit/credit card and bank statements. What more do you want to know about your personal finances? A clearer idea of how much money I’m wasting on interest for student loans and credit card interests. Calculating that stuff is such a pain. How much do you think you currently spend on eating out? Too much! I barely cook, so I’d estimate about 400-500 bucks a month. How often do you want to know about your personal finances? Every couple of days. I check my online banking account about that much. What is in my wallet? State ID, Debit Card, Sandwich card for the deli near my work. That’s it! Previous Post Mint Team Spotlight – Matt Snider Next Post Mint Team Spotlight – Poornima Vijayashanker Written by Mint Mint is passionate about helping you to achieve financial goals through education and with powerful tools, personalized insights, and much more. More from Mint Browse Related Articles Mint App News Intuit Credit Karma welcomes all Minters! Retirement 101 5 Things the SECURE 2.0 Act changes about retirement Home Buying 101 What Are Homeowners Association (HOA) Fees and What Do … Financial Planning What Are Tax Deductions and Credits? 20 Ways To Save on… Financial Planning What Is Income Tax and How Is It Calculated? Investing 101 The 15 Best Investments for 2023 Investing 101 How To Buy Stocks: A Beginner’s Guide Investing 101 What Is Real Estate Wholesaling? Life What Is A Brushing Scam? Financial Planning WTFinance: Annuities vs Life Insurance