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help w budget

Posted by on Jun. 12, 2012 at 9:30 AM
  • 23 Replies

I need help, especially from people living in California.

I was used to a very comfortable life style before becoming a single mom to a 1 1/2 year old boy.

After rent and day care, I have  $1800 left and some bills like car, phone and etc.

any ideas on how to budget this?

thanks

by on Jun. 12, 2012 at 9:30 AM
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Replies (1-10):
Machelle669
by on Jun. 12, 2012 at 9:32 AM
Bump


TigerofMu
by Bronze Member on Jun. 12, 2012 at 11:10 AM
1 mom liked this

Prioritize.  What has to be first?  Make sure you plan for essentials like gas money as well as making sure it's a budget that you can stick with.

We built a spreadsheet that I fill out every payday, showing what money goes where, then I put it into envelopes.  It's a modified version of Dave Ramsey's envelope system.  I take our savings envelope to the bank and deposit it so I'm not tempted to dip in throughout the month!

aidenmomplus4
by on Jun. 12, 2012 at 11:28 AM

I agree with PP, you really need a spreadsheet so sit down with all your bills and your last paycheck and plan it out every month till the end of the year, if there is money left over maybe consider paying down debt or putting it away as an emergency fund.

smile357
by on Jun. 12, 2012 at 11:31 AM

I completly agree with TigerofMu. I would also sit down with a trusted friend and make the budget. When I did this I forgot how many essential things you don't think of. And the friend can be more realistic and help you.

nessac1987
by Bronze Member on Jun. 12, 2012 at 11:36 AM
Omg.. where do you work?? 1800 is ALL I make a month and that's all I have to make it threw the month with 2kids and one in the oven...
I make a list of my bills in order of due pymt. I then split them in half and since I only get paid twice a month well I make sure each check pays each half of every bill whatever I have left is for hygiene supplies...
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Matriarch87
by Member on Jun. 12, 2012 at 11:54 AM

 I have actually read recent articles on MSN Money that budgets are no longer...ummm how do I say it...Well, they arn't considered necessary or even the best way to manage money any more...I guess that they just arn't all they are hyped up to be, considering how much stress and work they are to stick to...

It has now been recommended that people just pay all their bills (including any savings you may have)  and live on whatever is left. 

lilmama8408
by Silver Member on Jun. 12, 2012 at 11:57 AM
Factor your rent, car, insurance, utilities, food, ect.

See if your utility company allows you to pay the same amount each month year round. Basically it makes it so that in winter/summer when you use more/less of electric and all.
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tennisgal
by on Jun. 12, 2012 at 12:04 PM
1 mom liked this

Why don't you list your bills. How much you spend on groceries. How much your cell is? How much do you spend in gas? 

I get my grocery allowance twice/month ($600/month for a fam of 5 1/2). DH gets $160/mo for gas and he usually has enough left over for eating out once a week. We get $100/mo fun money (for us it usually means we order pizza and get a movie once a week b/c DH works a lot so we don't do a lot of activities that cost money). I use cash and leave my debit card in my desk at home. I carry the check book with me out of habit but I'm not tempted to use a check for an impulse purchase, so this helps me stay on track. 


TigerofMu
by Bronze Member on Jun. 12, 2012 at 12:18 PM
1 mom liked this

Yikes.  What a scary way to live!  I think I'll keep my security :).  

Quoting Matriarch87:

 I have actually read recent articles on MSN Money that budgets are no longer...ummm how do I say it...Well, they arn't considered necessary or even the best way to manage money any more...I guess that they just arn't all they are hyped up to be, considering how much stress and work they are to stick to...

It has now been recommended that people just pay all their bills (including any savings you may have)  and live on whatever is left. 


TigerofMu
by Bronze Member on Jun. 12, 2012 at 12:20 PM

If you have debts, pay those down.  Concentrate on one at a time rather than spreading out minimum payments so that you can snowball the payments from that onto the next.  

Make sure you're putting money in savings every month too!  You really have to have that emergency fund in case something happens.

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