I get $175 a week plus $200 a month for CS. My bills are $150 for my phone, $140 for insurance. I have one son who needs diapers, and other than that I just buy our personal stuff. I would like to buy an air purifier, and eventually a good laptop. So how much should I spent a month on entertainment and things I want to buy? And I would also like to start a savings account for my son, how much should I save a week for that?Answer Question
Asked by Anonymous at 3:07 PM on Dec. 21, 2009 in Money & Work
Answer by Anonymous at 3:13 PM on Dec. 21, 2009
I like the Dave Ramsey method. Start with a baby emergency fund. As fast as you can, (Sell so much stuff that the kids think they will be next - Dave Ramsey) save $1000. Then start taking a percentage, 5%-10% if you can, and use it to pay off any debt you have. Once all of your debt is paid off, then use that money to build an emergency fund of 3-6 months worth of bills. If there are certain items you want to buy, then if you have money left over at the end of the month, AFTER paying bills, debt, etc, put that money away to start saving for the items. My brother and his wife have taken every visa gift card, check, or cash they have received as a present for the past 3 years and put it away. They now have enough to completely furnish their downstairs.
Answer by AngelDawn7 at 3:22 PM on Dec. 21, 2009
Answer by sweetstkissez22 at 3:36 PM on Dec. 21, 2009
Answer by Anonymous at 3:40 PM on Dec. 21, 2009
Answer by lovinglife1127 at 4:01 PM on Dec. 21, 2009
Answer by Anonymous at 4:05 PM on Dec. 21, 2009
Answer by Anonymous at 4:42 PM on Dec. 21, 2009
Answer by Anonymous at 11:10 AM on Dec. 22, 2009
Answer by Anonymous at 12:30 PM on Dec. 22, 2009
Next question overall
(Just for Fun)
what's the coldest weather you would take your 4 month old out in?