Is it just me......Always overbudget

Missyelliotfan33

Even if you are saving $10 per month or $100 you are still saving something! Try setting your checking account to put at certain amount into the savings that you will not touch. Its very hard to save money I am getting used to it and not spending as much as I did before since I am not living at home anymore. Every little bit helps. Just keep going you'll get it all worked out!

Calantorntain

My goodness, 12 pages of comments? Guess I'll throw in my two cents. Need to have a financial overhaul? Here's some advice from a successful 20-something who's had the benefit of parents who instilled some very good financial sense.

People here are obviously into tracking things. Someone mentioned YNAB, but what I prefer to use is Mint.com. Unlike YNAB it's free, and it establishes a read-only connection to your various financial accounts to automatically track your spending. It's owned by Intuit, the same company that makes QuckBooks and ViewMyPaycheck; security isn't an issue.

So, sign up for Mint. For the first couple of months DON'T change your spending habits. You probably think you know how much you spend on clothes, how much you spend on food, etc. YOU ARE WRONG. For the first couple of months don't change your habits, but make sure you categorize spending correctly. If you make a multi-category shopping trip at a big box store, go into Mint and split up the transaction. Spend cash at a farmers' market? Input the transaction manually. And so on.

Ok. It's been two months. You now have a clear picture of what a train-wreck your spending is. Good news! You now can make more informed decisions when it comes to re-working your budget.

I'm at work, so I can't write more now, but hopefully one person out there will see this, and take a small step towards a better financial future. If people are interested I can ramble on some other time about more specific personal finance advice.

AmberJo1984

I'm with you. It's hard in this economy. There's medical bills, home bills, utility bills, etc.... etc.... etc.... I can never get ahead. Right now, I can't even afford groceries. We eat chicken almost ever night. And several leftovers. It's getting boring. :grumble: BUT....At least I should have no problem losing weight.

HeatherMN

I'm doing life the Dave Ramsey way. After going through Financial Peace University, it's completely changed how I think about money, what I spend and what I save. For the first time I have an emergency fund and will have all debt except the house and student loan paid off by Thanksgiving! It's been such a relief to know if something comes up, I've got it covered!

Calantorntain

Oh, and one last thing. The newest Mr. Money Mustache blog post is pretty applicable to this conversation. It's too awesome for me to try to summarize it here. Just read it, get enlightened!

http://www.mrmoneymustache.com/2012/10/08/how-to-go-from-middle-class-to-kickass/

bethfartman

How did our parents ever make it with one income.

I don't know if anyone responded to this with the same answer, but back in the days of one income households people lived much differently. Only one car, modest homes, not eating out except for very special occasions, no cable, no cell phones, etc. People nowadays have too much stuff they think are necessities (and society has tried to make neccessities so you keep on spending and remain in debt.) Even the concept of credit scores was made to keep you spending and in debt. A credit score is just a 'I love credit' score, if you live within your means and never buy anything you can't pay for (ie credit) you have poor credit- which is crazy because you're more responsible than the millions who buy things they really can't afford and need credit for. If you only buy cars with cash and never use credit cards you'll be suprised how much easier it is to survive month to month.

k011185

I'm doing life the Dave Ramsey way. After going through Financial Peace University, it's completely changed how I think about money, what I spend and what I save. For the first time I have an emergency fund and will have all debt except the house and student loan paid off by Thanksgiving! It's been such a relief to know if something comes up, I've got it covered!

I was going to mention Dave Ramsey as well. I have never read his book/plan myself, but I have 6 friends who have used it to get out of debt and start a savings plan, and they all swear up and down by it.
I'm a list person, I track my money like I do my food. We have a bill calendar with every single payment, including one to our savings account.
Whatever is left we split 60% savings, 40% entertainment for the next month. (My husband has a set salary but I own my business, so you never know how much $$ will come in, that is the only reason we don't budget for every single cent.)

Topsking2010

I'm doing life the Dave Ramsey way. After going through Financial Peace University, it's completely changed how I think about money, what I spend and what I save. For the first time I have an emergency fund and will have all debt except the house and student loan paid off by Thanksgiving! It's been such a relief to know if something comes up, I've got it covered!

I took the course and it has been a life changing experience for me.

FindingSamMon

Those are the cheapest shoes where I live. In canada.

:noway: Wow, do you guys get paid more than we do in America I wonder?

Less actually. Thats why we sneak over the border a few times a year.

You COULD always..dip your foot in molten rubber every morning. Every night just peel it off.

Or shop online :-D Lots of good deals can be found if you look hard enough!

I live in Canada too and I have been able to find really good shoes for under $150....I would say it's a matter of where you shop and your personal taste.

neverstray

I belong to a financial board that discusses this kind of topic everyday. What is interesting to me about this is it sounds a lot like that one would.

Here is the thing. Those who are good at budgeting and are generally frugal and do well with money are rearely good teachers to those that do not have a clue.

On one hand, it's easy, you have some money. That number is finite,. It's 3rd grade math.

On the other hand, for people that don't live in the budget concious world, they don't understand what you are talking about.

I know because I came from that world...twice. This time, I think it might stick. But, I deeply understand the mentality of people that have "needs", but can't afford them. The problem is, when they are complaining, they don't see the problem like you and I do. To us, it's simple. You are spending more than you have. So, stop doing that and the problem goes away. But, to them, from their brains, they think the over spending part is critical. And, if you challenge them on it, they get defensive and sometimes agressive. They will claim that you don't understand and all that.

The truth of the matter is that it is impossible to spend more income than you have. You can fake it for a while, with credit cards, and other types of financial instruments, but eventually, all that catches up. You have to one day pay it all back.

The solution is to start to look at what you are spending money on. Really look hard at it. And, question everything.

I wear a $300 pair of shoes to work everyday. I used to think I needed to do that. But, the truth is, it's just kind of BS. I don't have to. I can easily buy a pair for under $100 and wear those. It requires taking your ego out of the purchase process and being more practical about what you are actually doing. You need shoes. It's that simple. Start shopping and looking around. You might find alternatives that are less expensive. Everything is that way.

I also bought a Lexus. Trust me, that causes me existential turmoil daily. What does it mean? I just need to get somewhere, it just doesn't matter. But, that is a left-over reminder from a time that is gone. Its a good reminder though about where I came from and where my head was and where it is now. It actuially has turned out to be awesome. Everyday, I have to get into a car I despise, and it reminds me how stupid we all are for buying into brand names. And, that this one is elite and that one is not. It's all so stupid and it's all made up by people wanting to take more of your money.

Start by writing down everything you buy everyday. Every single thing. Put it in a spreadsheet. You will see all these Starbucks, and all these stupid little things, and you'll add them up and think "Holy Cow, I spend all that in a month on that stupid crap?" You will say that. If you don't, you're not really paying attention or you're lying to yourself. After that phse, you'll start looking at cable tv. You'll start looking at magazine subscriptions, newpaper, internet sppeds, any service with a monthly fee attached. All of those are out. Gone Nada. You don't need them. Civilizations have lived for thousands of years without TV. You'll make it. I promise. If that's all you do, think of it as an opportunity to get your butt off the couch and do something. If your kids whine because they are bored, hand them a mop.

The deeper you dive into it, the more you start to see things. The more you start looking at your CC bills and start thinking, "Man, if I paid these off, I'd have an extra $xxx.xx in my pocket every month". And, you start working on that goal. You start thinking more long term about your money and how that Starbucks coffee doesn't fit in at all with your long term goals.

Anyway, there is a big disconnect sometimes between those that understand all this and those that don't. I haven't read the Dave Ramsey book because I don't really feel like I need to. But, since so many are into it, I might if I can get my hands on a free copy. I aint gonna buy it though. But, it sounds like Dave understands the gap and has adressed it pretty well in his book.

Good luck. For those that do have trouble, understand that those that have this figured out don't understand why it's so hard to figure out, and you feel like they don't understrand your problem. They do understand it. But, it seems so simple. Like I said, it's really 3rd grade math, and making grown-up decisions based on that simple math.

princessnik7

bump wanna read this later.

Greenrun99

Tips for saving some money
1. Cancel your land line if you have a cell phone, cancel your phone data plan or downgrade it. Cell phone companies are one of the newest expenses that your told you can't live without but end up getting you for $100 a month when most places offer wifi.. If your struggling maybe you don't need an iphone 5.

2. Call your cable company, cell phone company, home internet company (if different) and ask for a discount or you will cancel their plans.. you can save money every month by threatening to cancel because these companies want to keep you as a customer but won't give you a discount unless you ask.

3. Hi, Use Coupons.. Nobody will look at you like some bum and if they do take your time paying. There are also tons of sites on the internet that are all about internet/in store deals that people help each other out on saving money

4. Don't go for a drive to relax, go for a walk.. Don't drive places you don't need to and don't drive for a hobby.. Gas is pricey and it isn't going down anytime soon.

5. Stop eating out for lunch and dinner.. don't get that starbucks coffee.. do you really need it? Your work may have coffee there for free!

6. Bring the party back home, don't waste $100 at the bar when a bottle of your favorite liquor is half that or more. If you go out take your time with the drinks.. or go drink for specials/happy hour or visit your local dive bar where prices will be cheaper.

7. Turn the heat/air conditioner to a different setting than your used to.. in the winter you can always have a blanket, in the summer have a fan and open the windows.. also turn down your hot water heater by a few notches.. you can save big $$ there.

My 2 cents.

Gurlyknockout

I belong to a financial board that discusses this kind of topic everyday. What is interesting to me about this is it sounds a lot like that one would.

Here is the thing. Those who are good at budgeting and are generally frugal and do well with money are rearely good teachers to those that do not have a clue.

On one hand, it's easy, you have some money. That number is finite,. It's 3rd grade math.

On the other hand, for people that don't live in the budget concious world, they don't understand what you are talking about.

I know because I came from that world...twice. This time, I think it might stick. But, I deeply understand the mentality of people that have "needs", but can't afford them. The problem is, when they are complaining, they don't see the problem like you and I do. To us, it's simple. You are spending more than you have. So, stop doing that and the problem goes away. But, to them, from their brains, they think the over spending part is critical. And, if you challenge them on it, they get defensive and sometimes agressive. They will claim that you don't understand and all that.

The truth of the matter is that it is impossible to spend more income than you have. You can fake it for a while, with credit cards, and other types of financial instruments, but eventually, all that catches up. You have to one day pay it all back.

The solution is to start to look at what you are spending money on. Really look hard at it. And, question everything.

I wear a $300 pair of shoes to work everyday. I used to think I needed to do that. But, the truth is, it's just kind of BS. I don't have to. I can easily buy a pair for under $100 and wear those. It requires taking your ego out of the purchase process and being more practical about what you are actually doing. You need shoes. It's that simple. Start shopping and looking around. You might find alternatives that are less expensive. Everything is that way.

I also bought a Lexus. Trust me, that causes me existential turmoil daily. What does it mean? I just need to get somewhere, it just doesn't matter. But, that is a left-over reminder from a time that is gone. Its a good reminder though about where I came from and where my head was and where it is now. It actuially has turned out to be awesome. Everyday, I have to get into a car I despise, and it reminds me how stupid we all are for buying into brand names. And, that this one is elite and that one is not. It's all so stupid and it's all made up by people wanting to take more of your money.

Start by writing down everything you buy everyday. Every single thing. Put it in a spreadsheet. You will see all these Starbucks, and all these stupid little things, and you'll add them up and think "Holy Cow, I spend all that in a month on that stupid crap?" You will say that. If you don't, you're not really paying attention or you're lying to yourself. After that phse, you'll start looking at cable tv. You'll start looking at magazine subscriptions, newpaper, internet sppeds, any service with a monthly fee attached. All of those are out. Gone Nada. You don't need them. Civilizations have lived for thousands of years without TV. You'll make it. I promise. If that's all you do, think of it as an opportunity to get your butt off the couch and do something. If your kids whine because they are bored, hand them a mop.

The deeper you dive into it, the more you start to see things. The more you start looking at your CC bills and start thinking, "Man, if I paid these off, I'd have an extra $xxx.xx in my pocket every month". And, you start working on that goal. You start thinking more long term about your money and how that Starbucks coffee doesn't fit in at all with your long term goals.

Anyway, there is a big disconnect sometimes between those that understand all this and those that don't. I haven't read the Dave Ramsey book because I don't really feel like I need to. But, since so many are into it, I might if I can get my hands on a free copy. I aint gonna buy it though. But, it sounds like Dave understands the gap and has adressed it pretty well in his book.

Good luck. For those that do have trouble, understand that those that have this figured out don't understand why it's so hard to figure out, and you feel like they don't understrand your problem. They do understand it. But, it seems so simple. Like I said, it's really 3rd grade math, and making grown-up decisions based on that simple math.

What you said was beautiful! I too are a part of a financial board that discusses this kind of topic every day. Dave Ramsey has a radio show that’s very funny and full of good advice. You can listen to it live or past shows on his web site Daveramsey.com. I know the local library has a copy but its always checked out. Well thats what everyone on our forum has said for the last 2yrs. Also the book has work pages in it that you will need to fill out. So you will need your own copy to truly follow the baby steps. The book is $15, it think. Try Amazon used.


ETA: I have been streaming netflix for 3yrs. It only cost me $8 a month to watch tv. Oh and I also have a pre paid cell. I get unlimited everything for $45. Stright talk. And we have two savings accounts. One for emergancys and the other for sinking funds like you would of used for the clothes. So yeah if you want to find money you cut where you need to. But you will need to want to make changes.