Margs and Tearianna

[HeavenLeigh]

I was reading about how you girls keep a tight budget......HELP ME!!
:D

Since my payments on the new wheels are $100 a more a month, God only knows how much more ins. will be :argh: Gotta call back tomorrow to find that one out :rolleyes: I need to learn how to budget. I can save. I have a small 4 figure savings, which is better than none, but I waste too much money. I can save but I spend like a big dog too.
I figure most of my problem is eating out. I work evenings and it's so much easier to grap on the run than it is to cook. That adds up to a lot of money. Ebay is another thing :rolleyes: I've decided NO more ebay........for awhile at least.
What else do I need to do? Figure out how much money I spend per day on eating out v/s how much money I'd have to spend on the groceries I never buy. ?
Ebay is easy. I don't need the stuff so therefore I'm not gonna buy the stuff.
NO MORE EBAY!!!

[suzieq728]

:eek: NO MORE EBAY? :eek:
How are you going to do that? I have NO savings, live paycheck to paycheck, make a good salary, but I just can not save. My credit cards are all maxed, and there killing me, I am still paying off a trip to Disney back in January, (I borrowed money to go). I am sinking lower & lower every day!
So whatever you learn Krysti, pass it this way! :D

[suzieq728]

Oh, and did I mention I have the nerve to go to Atlantic City this weekend :eek: .... Yeah see its stuff like this that gets me into trouble....
I feel real guilty about going to AC, (no I dont), I mean I dont pay for the room, I dont pay for food, and I really dont gamble that much :rolleyes: , I dont really I dont... I have some damn nerve, yeah and I love every minute of it too :D

[Tearianna]

Krysti, Kudos on having a savings already! That is very hard to do! Sounds like you’re already on track with things, but I love a chance to put in my :2cents: if it will help out!!

I have found that if I make a really extensive budget … something ALWAYS happens to ruin it completely. (for instance, the car breaks down … the hot water heater blows up … you know, something very expensive to fix) :rolleyes:

So this is what works for me. I do a month-by-month budget. First, I put down our monthly income and subtract the guaranteed monthly expenses (like car payment, insurance, rent/mortgage … stuff that never changes). I always round down the income and round up the expenses, which allows for any unexpected increases. After I have that done, I can play around with the other expenses …. Like budget $1000 for savings, $500 for the credit card, $400 for food, $300 for entertainment, etc. etc. You can play around with those numbers …. so if you want to make a big purchase one month, you increase the credit card and lower the entertainment.

One thing to watch out for is “cash withdraws” Those things will ruin a budget! Hubby always loves to go to the ATM and take out money for stuff. But I can never keep track of where the money is going that way. So you might want to budget in a certain amount just for “cash withdraw” so that you can spend that money on anything and not have it count against the budget! That way you can treat yourself now and then without having to keep track of it.

Really, the best advice I can offer is to never budget yourself down to the point where you only have a few dollars left at the end of the month. Always try to leave some breathing room. Because unexpected things always happen and you can never plan for it completely!

Good luck! :D

[girlzrule]

Great advice Jennifer!

[Margarita]

Wow, great advice, Jennifer. There's nothing left for me to add. :( LOL

Krysti, no ebay is a good idea in theory, but if you're really addicted to it, will you really be able to quit cold turkey? Depending on how much you have left over after the definite monthly expenses (be sure to include telephone, gas, electric, water, etc in that even though they vary a little each month), you may be able to include a bit in your entertainment limit for ebay purchases.

It's like going on a diet. If you deprive yourself of food you really love, you'll be able to do it for a while then fall off the wagon. You need to make a fundamental change in eating habits in order to really lose weight.

I'm not saying you need to lose weight, of course, just providing a comparison. It's the same with money. If you deprive yourself, it won't last. You need to make changes that you can live with long term.

Finally, good for you on the savings. That's awesome for anyone, let alone a single mom!!! :D

[Tearianna]

:biglaugh: Margarita! I got here first, only because I have to be to work at 7:30 am!!
If you deprive yourself, it won't last. You need to make changes that you can live with long term.
So glad you said that. It is very, very true!!

[HeavenLeigh]

As much as I love Ebay I know I'll have no prob staying away from it.......I may not completely stop. Especially if I find something I need (like a purse, scrubs, etc...) that is a killer deal. I've only been registered to Ebay about 3 weeks and am embarrassed how much $$ I've spent.
I have some kind of program on my puter......Microsoft works and Microsoft office.....wonder if either of those have a finance budget thingy. ?

Other than my obsession with jewelry, clothes, make-up, lotions/perfumes, and ebay :rolleyes: I think I'll do great saving.

According to my "thoughts on paper" last night I should have over 300 a month that is used for nothing. That was after taking out for groceries, gas, school money for Darek, and pop/snacks for work.

They have started the direct deposit at work. I'm going for it. I figure if I have to write a check for everything (only use checks for bills right now) I'll see exactly where and why and won't have that extra $$ floating around my purse tempting me to spend it.

I tried to analyze my spending/saving habits last night. Some times I'm a tightwad. I'd rather see my bank account grow rather than have what I want and other times......the opposite. I go to the bank every other day to withdraw $50 for something stupid. No more of that.

If I can put up $330 a month for 12 months that will make $3,960 for next years vacation/school clothes. Not to mention the 5K I have in savings already.

I've even budgeted for Tommy. :rolleyes: talk about spending/saving problems. That boy wrote the book. Thank God he has enough sense to let me handle his money. He would blow every dime and walk around naked if it weren't for me. I keep him in line tho :D Now, if ya'll could keep me in line......;)

[rdy2rac with]

Originally posted by HeavenLeigh
They have started the direct deposit at work. I'm going for it. I figure if I have to write a check for everything (only use checks for bills right now) I'll see exactly where and why and won't have that extra $$ floating around my purse tempting me to spend it.

That is the way I tought my hubby how to keep better track of our money. He used to get his check & ask me how much he needed to put in. Now with the direct deposit he asks how much he can take out. Major difference in the amount that actually stays in.

As far as eating out goes. I have done some figureing about that w/our family. With just the 2 of us eating the main food we buy we spend the same amount if we eat out all the time. So take into account how much your actually eating from groceries & how much your eating out. If you're like us they will almost balance out.

[Margarita]

LOL, Jennifer! I slept until 8:30. Do you hate me? ;)

Krysti, if you can save $330 a month, then you don't need any help from me!!! That's awesome! :notworthy Anything we have left over goes into savings, and it's usually only about $100. :o With our mortgage, car, and home owners' association payments, plus all the other regular bills, money sure goes fast around here. And ttc isn't helping. :(

It was so funny one day. I told DH not to write any checks because we didn't have much in our account, and he asked what happened to his church paycheck? I laughed and said, "Honey, I paid some bills. Poof! It's gone!" He doesn't understand how much goes out since I do all the bills. We charge all our groceries and car gas and most incidental expenses because we get one frequent flyer mile for every dollar charged. So, when I pay the Visa bill, that takes care of his church paycheck. LOL

Speaking of credit cards, I don't know if you use them, Krysti, but if you have a balance on any credit cards, pay those off ASAP! Forget putting that money into savings until you get them paid off. Depending on your savings account, you're only earning about 5% interest, and credit cards charge around 15% or more. So, you're actually losing money if you add to your savings instead of paying off your cards.

Also, like Jennifer said, not having cash around helps a lot. I finally got B to stop carrying cash, and now he's not piddling it away on useless things. :clap:

I'm pretty sure neither Office nor Works has a financial program, but I could be wrong. You could set something up in Excel, though. How do you feel about that? I know you and computers aren't the best of friends. LOL But really, it's not that hard. I might even be able to send you something simple.

Katy, really? I can't believe you spend the same amount whether you eat out or at home. We've always found that eating out is really expensive in comparison.

[HeavenLeigh]

I've been cooking :eek: scary but true. Almost every day too. It's really hard since I don't get into bed til 3am, back up at 6:30 to get Darek off to school then go back to bed and usually end up sleeping til after 12......then be ready to leave for work at 3:30.....so it's hard to find time to cook, clean up, plus do all the other household things (like chat on here :D)
Computers are not my friend :rolleyes: but I did find something on one of my programs to itemize things. So, I put down my monthly bills and the average.
I have refrained from Ebay except getting Mom 2 pairs of earrings for Mother's Day. I did bid on a playboy bunny license plate tonight tho :p
Since the hell hole provides us 5 new uniforms a year *ugly/cheap ones, go figure* I allowed myself $$ for 2 new ones a year. That's about what I buy. So, I met my quota yesterday when a uniform co. was set up in the cafeteria selling uniforms. I kinda went overboard and bought a $4 pair of Scooby socks to match the uniform I bought but it was well worth it! Scooby is the mack dad of all dogs, afterall.
Otherwise I'm doing good........Darek is so hating this "budget" no more stopping and getting a bunch of junk food every time we're out but he'll adjust and get over it. I'm even noticing that I'm cutting back on smoking. I'm hoping to one day stop completely but as for now I'll switch to a cheaper brand than Marlboro.....I don't smoke as many generics.

[suzieq728]

Krysti
Wow you sound like your doing so good with your budget, I am really glad it's working for you. But, it's not working here. I think I have some sort of addition to spending money :rolleyes: . And as far as just paying the balance of the credit cards the balance is so high on each one I dont make enough in week to pay the balance.
How do you get out of credit card debt anyway. I have 3 cards, and I have managed to stop using them I dont even have them in my wallet anymore, but how on earth do I get them paid????

[Lisa]

Suz~
This is how I paid off my credit cards.
Take your card with the highest interest, or balance. Pay the most you can on that ONE card each month. Only pay the minimum balance on your remaining cards. Once your first card is paid off, go to the next card and do the same thing. Believe me it takes time, but it really does work. But remember don't use your cards if your really don't have to.
Here's another bit of info for you. When I went to the bank to get a mortgage for the house, I had too much open credit. I had 10 credit card. Even though there is no balance on them, the bank sees that you have 50,000 worth of credit that could get you into trouble. I closed out all my accounts and left myself with 2 credit cards.
Also when I use my cards, I never put on more than I can afford to pay off when I get my bill. That way they never get out of hand. Of course, and emergency will come up once in a while, but just pay if off as soon as you can.
So just start with one card at a time. I know you can do it. :D

[suzieq728]

Thank you Lisa. I am going to try that method.
I'll keep you posted, I promise I wont use the cards anymore :rolleyes: I promise! really, I am in such credit card debt its not even funny anymore...
So, starting today, (Im going threw the cc bills now) I am going to pay one off at a time....:D

[HeavenLeigh]

Q....right now I'm looking into a bank loan w/ lower interest rates to pay 'em all off. That way I only pay one payment a month and the rates won't kill me :rolleyes:
Check out the banks/lending companies to see how their rates compare.
Call your credit card company(s) and ask them what your interest rate is. Then ask them to lower it. I have done this on occasion and they have happily lowered it. I guess they figure they can lower it and still make some $$ rather than you transferring your balance to a lower rate card and them making none.

[suzieq728]

Krysti
I am in so much debt that any bank would laugh at me if I asked for a loan. As far as calling the credit card company's that I never thought of, I will try that tomorrow and let you know what they say...
But I have one card here with a balance of 765 bucks with a interest rate of 21% :eek: can you freakin believe the interest these guys get,,, OMG... Im gonna give them a call tomorrow...

[Margarita]

Good job, Krysti! :)

Suzie, good luck paying off the credit cards. Once they're paid off, cut them up, leaving yourself with only one. That way, you'll have less access to credit and be less tempted. Then, try to live by "if you can't pay for it at the end of the month, don't buy it." You can do it! :)