How many MFP'ers are struggling with money?
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im in terrible debt.. because my dear husband (please read that with sarcasim) hasnt worked a real job in 3 years. my salery will not cover even the most basic needs and even though he has TOLD me that the cards were being paid.. he hasnt paid one in nearly 3 years. so between the lazy, the lying and the deciet.. im not happy that i trusted someone to take care of the house finances. im an currently just triing to keep the creditors at bay and make hubby get a real job somewhere.. other than here..0
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I keep an excel spreadsheet and log every penny. i am completely debt free.0
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For those who are considering excel, they have budget templates in the gallery!0
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im in terrible debt.. because my dear husband (please read that with sarcasim) hasnt worked a real job in 3 years. my salery will not cover even the most basic needs and even though he has TOLD me that the cards were being paid.. he hasnt paid one in nearly 3 years. so between the lazy, the lying and the deciet.. im not happy that i trusted someone to take care of the house finances. im an currently just triing to keep the creditors at bay and make hubby get a real job somewhere.. other than here..
I sort of was in same boat as you. my other half didnt work, but studied for about 6 years, he also got a bit of agraphobia (?) as well which didnt help. so i was paying for both of us, on my wage, mortgage, all different outgoings, and my wages just didnt stretch that far, so had to use credit cards. now at last he is working and have worked out with the bank (having his wages put into my bank as well) a consolidation loan. it will take longer to pay off, but we still couldnt really afford to pay off credit cards becuase he isnt really earning that much. he will only get a better job and go upwards, so hopefully we can then reduce the amount of time at a later date.
but for those 6 years it wasnt fun at all! i never used to tell him about it because he would stress about it, so had to keep it all inside0 -
My hubby and I are planning to take the 13 week course from DaveRamsey.com, the online version because his schedule does not work well for the classes offered in the area. We(mostly he, I stay home...) are using mint.com, only recently.
It is easy to make a budget in excel, but mint.com does pull in all of your accounts and makes it much easier. Plus, it has mobile apps. I do not have a problem sticking to a budget as long as I have all cash. It is harder to stick to a budget while having a card.0 -
I don't struggle with money....
Just wanted to say Quicken is also another option out there for budget, bill paying, etc. It's what I use and I absolutely love it.0 -
I'll have to take a look at the sites mentioned.
I've completed Dave Ramsey's Financial Peace University twice and am ALMOST debt free, except my mortage (come on April!!!) With his program, I've been doing a monthly budget now for 19 months, but I'm always looking for something that might make it better/easier since I'm currently using a spreadsheet that I email to myself so it's accessable wherever I am.
If you like your spreadsheet, check out dropbox so you don't have to email it to yourself constantly.0 -
We struggled for a long time after the "mortgage crisis". DH took a 60% pay cut. His pay has rebounded a bit but we downsized to a home that's 1000 sq feet smaller than our old house and sold a car so that I can stay home with our little. We're about to pay off DH's car and then once I have enough of a down payment saved, we'll be a 2 car family again. I don't consider us struggling. We make sacrifices so that we don't struggle. We have loads of disposable income because of these sacrifices, so we're able to save more money than I would have ever thought possible. My goal for 2014 is to save a 3 month reserve. Basically, to put enough money in savings so that if we had no income, we'd be okay for 3 months. Eventually I'd like to have a 1 year reserve, but I think I can manage a 3 month reserve this year, while also saving for a down payment.
I tried mint but didn't like attaching my accounts. They didn't sync properly. Maybe I'll give it another shot.0 -
How can a website designed to help you with money, have the audacity to charge $60 for it's services? It's not even like it's a small fee. Mint.com also doesn't seem to be available for us UK'ers. :grumble:
If something is offered for free, you are the product.0 -
I'm not even going to....0
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How can a website designed to help you with money, have the audacity to charge $60 for it's services? It's not even like it's a small fee. Mint.com also doesn't seem to be available for us UK'ers. :grumble:
If something is offered for free, you are the product.
Good point.
https://www.mint.com/how-it-works/free/0 -
Like I always told my kids....budgeting is not rocket science. Just don't spend more than you earn. I have no idea why some people can't grasp this concept....but many can't. The reasons why don't matter. Unfortunately Americans aren't much better than their elected officials at budgeting. Thirty years ago The Grace Commission found that 70% of all households were insolvent. That's why I'm not surprised at the world's financial woes.
Congratulations on waking up and budgeting your finances.0 -
Apart from a mortgage I have never been in debt. I don't believe in credit cards, if I don't have the money then I don't buy it, simples!
There's far too much 'buy now pay later' mentality out there, which gets many people into financial trouble.0 -
I keep an excel spreadsheet and log every penny. i am completely debt free.
My wife uses an excel spreadsheet to track everything, and uses auto pay liberally. No other software. It works out well for us. She manages all of the day to day bills, and I do all of the long term planning (IRAs, mutual funds, etc).
We are in fairly good shape financially. All credit cards are paid in full every month. We paid off one house, which we are renting out; now we are waiting for the housing marking to get back into decent shape so that we can sell it.0 -
I got a credit card with a limit of $700 when I was twenty, and while I still had a job, it was all right... but then when I was unemployed and relying on the occasional small handout from my dad, I did what every stupid young person does and maxed it out and was only paying the minimum payments. I tanked my credit score by not paying for about six months, and now the account is closed and I'm still paying it off two years later. I still owe about $500.
Other than that, I have about 10k's worth of student loans in my name, that my dad is paying off, but when HE forgets to pay them (which happens often) then it affects MY credit score. I am very grateful to my father for paying the loans, so I don't complain to him about this, but he has no idea that this is happening. Which kind of means I'm screwed when it comes to buying a car/house in the next few years... but I am lucky to have enough to get by, even if I'm not 100% independent yet. I have learned to live very cheaply, and it does not bother me. It's actually helped with the weight loss, because produce and simple foods are cheaper than eating fast food every other day!0 -
**Bump**0
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LOVE GAIL and her kick *kitten* attitude!0
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May I also suggest Mint.com?
I use Mint's website too and it's very helpful for setting a budget and knowing where the money is going!0 -
I kick it old school with excel.
It started after college, when I was curious how long it would take to pay off my debts. It's morphed into one beast of a spreadsheet, with budget categories. We paid off our mortgage in 4.5 years. And when both our old, paid off cars died two years ago, we bought new ones...one with cash, the other financed but paid off within a year. We make sure to keep 6 months of expenses in liquid savings, the rest gets invested. Our next goal is income property.
Basically, we're both really good at living below our means and delaying gratification. We have extensive conversations about what to spend our money on. We are completely aware we can't take it with us when we die, but we try really hard to balance our daily needs AND wants with our future goals for comfortable retirement.
oh, and not having kids helped a lot...0 -
I've struggled. At 20, I was given a credit card with $5,000 limit. Within 6 mos, they had upped it to $7,000 and in a year $9,500. I got lots of cards in my name and racked up debt, paid it off only to rack it up again. I'm in a decent place now. I still have a few lingering things. The problem at our house is we're living pretty paycheck to paycheck. For a long time, I've been very picky and frugal in the grocery and entertainment department. But lately....I've been slipping. Especially because we've had extra money. And it is hurting us. I need to get back on track.
I blog about saving money grocery shopping. I know what I'm doing, but I get tired of being obsessive about it and then I lose control.0 -
I am not struggling with money.
However, when I graduated college, I had racked up a lot of debt. And when I moved out of my parents' house, I was struggling with money. Fast forward 10 years later and I earn a lot more, I've paid off all my revolving debt and whatever I charge on a card, I charge to accrue points, because its paid within the month.
On the other hand, I purchase a lot of toys for myself. So its kinda scares me to think how much more money I would have if I wasn't so flagrant with what I spend my money on.0 -
im in terrible debt.. because my dear husband (please read that with sarcasim) hasnt worked a real job in 3 years. my salery will not cover even the most basic needs and even though he has TOLD me that the cards were being paid.. he hasnt paid one in nearly 3 years. so between the lazy, the lying and the deciet.. im not happy that i trusted someone to take care of the house finances. im an currently just triing to keep the creditors at bay and make hubby get a real job somewhere.. other than here..
I sort of was in same boat as you. my other half didnt work, but studied for about 6 years, he also got a bit of agraphobia (?) as well which didnt help. so i was paying for both of us, on my wage, mortgage, all different outgoings, and my wages just didnt stretch that far, so had to use credit cards. now at last he is working and have worked out with the bank (having his wages put into my bank as well) a consolidation loan. it will take longer to pay off, but we still couldnt really afford to pay off credit cards becuase he isnt really earning that much. he will only get a better job and go upwards, so hopefully we can then reduce the amount of time at a later date.
but for those 6 years it wasnt fun at all! i never used to tell him about it because he would stress about it, so had to keep it all inside
That sounds awful. I hope that he was at least supportive and helped around the house a lot while he was unemployed. My boyfriend hasn't had a job in the entire time I've known and dated him (about a year and a half all told), because when I met him he was a wreck and he's been in and out of rehab for months. He's doing much better now, going to AA meetings and taking a class on Saturdays and sticking to his medication. However, I don't think I could wait another five years for him to get a job!!!0 -
I'll have to take a look at the sites mentioned.
I've completed Dave Ramsey's Financial Peace University twice and am ALMOST debt free, except my mortage (come on April!!!) With his program, I've been doing a monthly budget now for 19 months, but I'm always looking for something that might make it better/easier since I'm currently using a spreadsheet that I email to myself so it's accessable wherever I am.
+1 for mint ( my wife uses it ) and Dave Ramsey.0 -
I use Excel and plan for about 6 months in advance. I've got cruddy credit because the only things on it are medical hits, which aren't supposed to count but believe me, it does. I balance myself to the penny, but once I pay off my vehicle I can breathe a lot easier and actually save. What sucks the most is every time I get a little extra, enough to tuck away for one of those Oh $@#! days, my Jeep decides it needs to break down- my Christmas bonus went that way :sad:
My goal is to save, save and save some more, and slowly begin repairing my credit. Just wish it wouldn't take so long0 -
By the way.....you don't need anything but paper and pencil to make a budget.
Good luck!
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I had a lot of credit card debt in my 20s. I cant even remeber what i used them for.
I am debt free now and i use Mint.com0 -
By the way.....you don't need anything but paper and pencil to make a budget.
Good luck!
True. But you don't need MFP.com to meet your fitness or diet goals but it sure is helpful... and fun
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People who spend thousands on things they don't need, i really do not get.
We struggle to just pay our rent, power bill, water bill, car insurance, and car payment, House phone,cell phone and internet.
those alone is about $800 a month and w/o a job SUCKS.
The feoncee has tons of medical bills that will never be paid for cause they add up to enough we could buy a very nice house.
I have a CC and owe that cause things were tight. I have loans to pay back to my parents, they have helped us the last 4 months but said was not going to help anymore so not sure what were going to do, being stressed makes us both eat0 -
By the way.....you don't need anything but paper and pencil to make a budget.
Good luck!
True. But you don't need MFP.com to meet your fitness or diet goals but it sure is helpful... and fun
I have been to dozens of personal finance forums. Many are helpful, but none have been fun. If you find any that have "Thong Thursday" themes, please let me know.
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