Remember that $100 dollar loan? "Commodore" used that first check to buy a boat from his own parents, then turned it into a business ferrying freight and passengers from Manhattan and Staten Island. Commodore's mom Phebe would even charge interest when she lent out her silver to turn a profit. If you want to go straight to the spreadsheet tool, skip to the explainer section below.Ī dutch immigrant with a frugal upbringing, Commodore learned to save any and all disposable income from limited means. Below, we explain how the Vanderbilts became the wealthiest family in the US, how they overspent their millions over six generations, and how your family can avoid the same fate with a budget planner we created to get started. Six generations later, his family lost it all. With it, he built a steamship and railway empire that grew into a $100 million dollar fortune by 1877, making him one of America's richest men with a net worth of over $200 billion in today's terms. Cornelius "Commodore" Vanderbilt borrowed $100 dollars from his mom in 1810, which would be roughly equivalent to $2,400 today. How did the richest family in the world go bankrupt? And pie charts track expenses by categories, family members, and "nice to have" or "must have." With all the tools to assess spending month by month, the whole family can learn how to budget according to a plan and reach it.īelow, we detail why you really want to share the skill of budgeting with your family, but if you want to skip straight to the tool explainer, do so now. A monthly time series tracks net savings against planned savings month by month. A summary dashboard determines if spending habits are on track or off track year-to-date (and by how much) to meet the annual goal. Need a budget the whole family can stick to? Use the fully customizable Family Budget Planner spreadsheet to set an annual savings goal and track a full year's transactions against it.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |