Is it just me......Always overbudget
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If I have to get a gift for someone that's not my kid, I'm not spending more than $20-$25. Really glad my kids are past the age of getting invited to birthday parties! I try to budget, but I can't seem to stay under if we want to eat something besides $1 boxes of mac & cheese. My son needs to put on 30 lbs, so I need to buy real food. He eats all the time, but he's a freakin' stick!0
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My advice is to write a budget at the begining of every month and stick to it. Have you ever read any Dave Ramsey books? He has awesome advice on how to write a budget and stick to it as well as how to get out of debt. We live on on income and successfully stick to our budget every month. At the begining of every month we put our income in a spreasheet I have written in excel then we give every single dollar a name. If it is not in the budget then we do not buy it.
We also use something called the envelope system where we put cash in envelopes for certain types of spending like groceries, medication, clothing, dining out, pet food etc and when we are out of money in that envelope we stop buying things in that category until the next budget.
BTW: I would never spend $150 on tennis shoes or $75 on birthday gifts. The most I have ever spent on shoes was around $100 and that was for spinning shoes that I desperately needed because I teach spinning classes. I make birthday gifts and most of my Christmas gifts as well.
ETA: Some of the best Dave Ramsey books are The Total Money Makeover and Financial Peace. I also highly reccommend you take The Financial Peace University class. It teaches a whole new way of living and thinking about money.
^^^This chick is smart. I would tell everyone to take note.
For those that are interested, there's a program called "You Need a Budget". or YNAB.com It will get you out of debt. But, it outlines the above method...every dollar has a job. If it's not in the budget, it doesn't get bought. There's no way around it. If you need money for something that came up, something else has to give. I mean, if you think about it, there's no other way you can dfo it. How can you possibly spend more than you have? It is not possible. So, this is a good way to face facts. Also, at first, you will have all kinds of exceptions because you don't know how to budget and you forget lots of stuff that happens. But, over time, probably a year or so, you learn to plan ofr those "surprises". They are not really surprises, you just forget they happen. Like, one of my surprises is always my kids sports. But, I know when the season starts, I know when it's going to hit, I don't know why I act liek it's a big surprise. Put it in your budget and it's no longer a suprise. You budget for that expense.0 -
We put 15000.00 per year in our 401k, 10 grand in roth IRAs and 4 grand in our hsa FIRST. All of this goes out before we spend a dime. This is how we save money.
We also have drive old cars. My car is a 1998 and his truck is a 2000. We pay off our credit cards every month and we do not buy it if we can not afford to pay it off. I do not buy people expensive presents to make them think I am wealthy, I start shopping for Christmas in June, buying a few presents at a time so I do not have the stress of trying to get it all done nor the worrying about not being able to eat in January because of the bill.
I have a spreadsheet with the food I buy at Costco. I mark what we need and we buy from there. I shop the sale at our local grocery store and make my list from the internet vic special list that comes out every Wednesday. I outlet shop, my handbags, clothes and shoes are many times last season, some times even 2 seasons ago.
I buy 150.00 shoes because I DO NEED them. I am 44 years old and a runner with a bad back. Those shoes save me from having to wake up at night in full on back spasms. But I try to buy last years model when ever I can to save 50 bucks or so.
I recommend to anyone reading the book The Millionaire Next Door. It gives great hints on how to save money.
I also recommend spending money on things you need and like, not to impress other people. Ego is one of the main reasons this nation is in the state it is in. If you cant afford to pay it off people, YOU CAN NOT AFFORD IT. Living on credit because you think you deserve something is ridiculous. You deserve it if you earn it, you earn it by being able to pay for it the day you buy it, period.
I have a family of five, my husband works full time, I work part time, and I attend college full time. Those amounts that you posted that you save before you spend a dime is very close to what we make in a YEAR. Add about 3k more and you're there. We are beyond broke.
I live in Michigan and my husband has to drive an hour and twenty minutes to work one way. He drives a small car and it still costs $100 in gas a week. I drive the truck, which is paid for or else I'd never drive it, to take the kids to school, to work and my school. My gas is $100 a week. The reason I have to drive my kids to school is because we got a great deal on a house but it's not in the kids original school district, my youngest is special needs so we chose to continue sending them to the same school for consistency. However our house payment is only $250 a month.
We spend more on gas than any other expense the entire year and food is between $600 and $700 a month. There really is no good solution to our situation except trying to get my husband transferred closer to home (which hasn't happened yet) and getting me a car, which costs money to buy.0 -
I hear that! I am a single, sole support mother of 2. (No child support, no spousal support ever in almost 11 years). I work two jobs just to try to make ends meet but the ends always seem to move further and further apart.
With the cost of all the necessitites steadily raising it is so hard to keep up.0 -
I want to give you one more tip. This is easy.
I set up multiple accounts. When I get paid, all these things happen. Different amounts go to different accounts. I have in advance figured out what my bills cost me every month on average. That amount goes into one account. I have all those bills auto pay. I have no idea anymore how much is in that account, nor do I care. i don't look at it, I don't monitor it, i just don't care. It pays rent, bills, ultilties, phone, etc. everything that is repeat.
Then, I have a savings account. i have a fixed amount go there. I started out with $5 per month. It sounds ridiculous, but you have to just start. Then, maybe once a year you can increase it a little, to $10 then $20. Just never ever touch that money.
Lastly, I have a cash account, whatever is left from the bills and the savings goes to cash. That account pays for everything else. Gas, groceries, movies, having fun, whatever. It's everything else.
You could also have a vacation account where it's similar to savings, except the plan is to spend that money on a vacation once a year or something. I know people that do this.
At first, it's depressing because the amount of cash you have left over is like, "Holy Crap. That's it?" But, that's the reality of the situation. That's where you are. Now, go over and look at your bills, for every bill you can cut (cable, pay off CC's, etc), you get more cash. Hmmmm. Kind of changes your perspective on things you "NEED". LOL.
Good luck and I hope this helps.
Doing it this way has completely changed my life. I've now gotten used to living on very little, and when a CC gets paid off or something, I just take that money and scoot it over to savings, rather than cash.0 -
Umm. Not going to buy shoes at thrift store. Or second hand store. I work in office building.0
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If I have to get a gift for someone that's not my kid, I'm not spending more than $20-$25. Really glad my kids are past the age of getting invited to birthday parties! I try to budget, but I can't seem to stay under if we want to eat something besides $1 boxes of mac & cheese. My son needs to put on 30 lbs, so I need to buy real food. He eats all the time, but he's a freakin' stick!
What CallmeCupcake said re: gifts (and look in the closeout aisles, great gifts under $10 often times) ... and I SWEAR my three boys (17, 16, 9) are GOING to eat me out of house and home ... lol ... have holes in their Big Toes .... They EAT and EAT and EAT and never gain any weight! I warn them though, their time is coming ... I was there too ... once upon a time
We clip coupons and can often save 50% or more on groceries if we stock up during sales and use coupons. The way our family eats REALLY adds up! AND we get $.10/gal off fuel for every $100 we spend on groceries ... bonus!
We shop when the sales are on, buy things in the off season and store, take advantage of financing deals BUT MAKE SURE YOU MAKE TIMELY PAYMENTS OR "SCREWED"!!
I suggest TRYING to find a way to buy quality and take care of it. Otherwise you just end up buying the same crap over and over and have nothing long term to show for it. Lawnmowers, furniture, vehicles, appliances, electronics, etc... Crap is just that "crap" Better to buy it once at 150% the cost then buy crap twice (or more) at 200%+
Don't be afraid to barter/negotiate and DO be willing to walk away if you can't get the deal you want.
Differentiating Needs and Wants just often takes alot of willpower.
It's just soooo d@mn expensive to live nowdays
Every little bit adds up Good luck! 0 -
O.k. Why everyone hating on the shoes. That is not the point of this thread. But maybe I will go to work tomorrow in sandals. See how that works out. Or better yet, billy boots. Now how many of you ever spent money on things like jewelry, purses, etc...for me that is a waste. Spending $100 on your hair. I shave my own. Going to get your nails done. Make up..............
In your next thread tell them you have sore feet when you run.... they will all tell you to properly get fitted. You will go to the running room, get fitted and leave with a pair of $150 shoes!!!!! Which you will then be told to replace every 6 months if you put in a good amount of mileage; but because your thread would be about being injured the cost would be justified... YOU CAN'T WIN in these forums!
I agree with you.... good shoes cost money!!!
You are so right! I got in an argument with a guy one time about it. :laugh:
I am not one to get in a tizzy in these forums but come on guys!!!!!! Go run 10 miles in your $30 Wal Mart shoes and I'd like to see your next post upon your return!
I just don't get it! The OP is a male... chances are this pair of $150 work shoes will last him the next 8 years!!!!!!
I get my shoes at Famous Footwear. $35 and I *love* running in them! :bigsmile:0 -
Umm. Not going to buy shoes at thrift store. Or second hand store. I work in office building.
Not sure what this means?? Can get New or Like New and QUALITY Brand Name clothing/shoes at second hand stores. Many with tags still on them at greatly reduced cost??
Guess just depends how bad you want/need to save ....0 -
I can definitely relate. My hubby and I both work full time and have very reasonable monthly expenses but somehow we still have trouble saving. I just had to get an eye exam and buy new glasses & contacts... the only thing covered by insurance was the exam so I had to charge the $400+ glasses (that was AFTER my $100 coupon!) to my credit card. Was NOT happy about that. Especially considering my hubby's car is a bottomless money pit and may not pass its state inspection at the end of the month... possibly forcing us to buy another car. It's honestly like the expenses never end and the pay never quite covers it all!
You could save money by purchasing your glasses online at zennioptical.com I get my annual insurance covered eye exam and then pick a pair of glasses then fill in my RX info. The glasses range from $6.00 and up.0 -
Nope its the same here, im always over budget. Its tough in todays world, but hey ho just got to get on with it i guess. It still really sucks though :sad:0
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Here is an example. Shoes for kids $150.00 School fees $200, birthday presents for other kids $75.00 come on! New shoes for me $150.00 Needed them.
I am with you. We constantly have things come up...but....
Do you really need $150 shoes? I'm betting you can find comfortable shoes that look nice for MUCH less than $150.
And birthday presents for other kids? Be cheap. Same with shoes for kids? I mean unless you have 5 kids I can't imagine $150 for their shoes is necessary.0 -
I want to give you one more tip. This is easy.
I set up multiple accounts. When I get paid, all these things happen. Different amounts go to different accounts. I have in advance figured out what my bills cost me every month on average. That amount goes into one account. I have all those bills auto pay. I have no idea anymore how much is in that account, nor do I care. i don't look at it, I don't monitor it, i just don't care. It pays rent, bills, ultilties, phone, etc. everything that is repeat.
Then, I have a savings account. i have a fixed amount go there. I started out with $5 per month. It sounds ridiculous, but you have to just start. Then, maybe once a year you can increase it a little, to $10 then $20. Just never ever touch that money.
Lastly, I have a cash account, whatever is left from the bills and the savings goes to cash. That account pays for everything else. Gas, groceries, movies, having fun, whatever. It's everything else.
You could also have a vacation account where it's similar to savings, except the plan is to spend that money on a vacation once a year or something. I know people that do this.
At first, it's depressing because the amount of cash you have left over is like, "Holy Crap. That's it?" But, that's the reality of the situation. That's where you are. Now, go over and look at your bills, for every bill you can cut (cable, pay off CC's, etc), you get more cash. Hmmmm. Kind of changes your perspective on things you "NEED". LOL.
Good luck and I hope this helps.
Doing it this way has completely changed my life. I've now gotten used to living on very little, and when a CC gets paid off or something, I just take that money and scoot it over to savings, rather than cash.
LOVE this idea. Thanks!0 -
I was like this until someone told me the pay yourself first rule. It's crazy but it works. Five years of doing it and now I'm buying a house.
What you do is figure out 10% of your monthly take home pay. Then you have to reframe your thinking and consider yourself the absolute most nasty *kitten* feed-you-to-the-pigs mob gangster possible. So the very first 10% of every paycheck MUST get paid to yourself - put it in savings and leave it there. Nothing is allowed to be considered more important, not your food, not your gas, not your rent... YOU WILL SWIM WITH THE FISHES UNLESS YOU PAY THAT 10% to thegang boss.
Do it, seriously. It's a rule to live by. Why work if you're not paying yourself anyway?
This.....and it's paramount...you have to DO this....
sometimes you sacrifice "wants" now to make sure "wants" later are a possibility
I'm a single mother on a 55K salary and I always find a way to make it work......mostly because I pay myself first.0 -
I was like this until someone told me the pay yourself first rule. It's crazy but it works. Five years of doing it and now I'm buying a house.
What you do is figure out 10% of your monthly take home pay. Then you have to reframe your thinking and consider yourself the absolute most nasty *kitten* feed-you-to-the-pigs mob gangster possible. So the very first 10% of every paycheck MUST get paid to yourself - put it in savings and leave it there. Nothing is allowed to be considered more important, not your food, not your gas, not your rent... YOU WILL SWIM WITH THE FISHES UNLESS YOU PAY THAT 10% to thegang boss.
Do it, seriously. It's a rule to live by. Why work if you're not paying yourself anyway?
This.....and it's paramount...you have to DO this....
sometimes you sacrifice "wants" now to make sure "wants" later are a possibility
I'm a single mother on a 55K salary and I always find a way to make it work......mostly because I pay myself first.
There is absolutely no way in hell I could do that. the person that invented that probably doesn't pay child support.0 -
http://www.brownsshoes.com/STEVE-MADDEN/198750,default,pd.html?dwvar_198750_color=013#cgid=2&shoesize=9.5&suggestsize=true&start=30
this is my shoe. Check out the price of the others.0 -
I'm struggling too. Things were so much better before my car caught on fire. Now I'm shelling out $450 a month just to keep a car on the road when before that I wasn't paying for anything other than gas.0
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http://www.brownsshoes.com/STEVE-MADDEN/198750,default,pd.html?dwvar_198750_color=013#cgid=2&shoesize=9.5&suggestsize=true&start=30
this is my shoe. Check out the price of the others.
you know you can get steve madden shoes at Winners all the time at bargain prices...why are you paying full price and then complaining about it?
edited for grammar0 -
listen to Dave Ramsey's radio program( its free) helped me alot with finances!0
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Just bought a new house and car...well, financed them...so yeah, money is tight :P0
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