Need help with a budget.

Carol - posted on 02/06/2012

I like all the suggestions so far, but I think one thing missing is reevaluating what you already have. If you have a high end car or even just a car payment, is it possible to trade it in or sell it and get a cheaper, but still reliable car? Are you renting a big apartment, but can downgrade to something smaller or in a cheaper section of town. Can you rent out a room in your house for extra income? Selling a house sucks in the US now, but I sold 2 houses in the last year(1 was ours in the boonies and 1 was my mother's in the city). If they're priced right, they'll sell.



If you have any of those ridiculously priced handbags, how about selling a couple to buy groceries for a couple of months. Don't leave out your husband's hobbies either. Does he have an extra hunting gun or a sports car that would give you a few months mortgage payments? Even the kids stuff could come in handy. Lots of places take well-taken care of used sports equipment. If they grew out of their cleats last year or stopped liking baseball, sell them at consignment shops. I like what someone else mentioned about thrift shops - I love them. Also, there are food thrift shops too. Regular grocery stores pawn off things that are not selling or things that are near their expiration dates or even things that just got dropped (but are still perfect inside the box). Watch the expiration dates though. Price matching is awesome too, especially combining it with coupons.

Good luck.

Tammy - posted on 02/05/2012

We struggled with this a few years ago; but we decided to go out and purchase a cheap month at a glance calendar for just our bills. We write all of our bills on there. Weather they are monthly and a set amont or the ones that vary.



Then weekly my husband and I sit down and pay the bills together. That way we are both aware of where our money is going. From there we put gas in both of our vehicles for the week and make sure to write that down on your bill calendar and then go to the grocery store. Be sure to stick to your list and not get anything else (unless it is on sale AND you have a coupon for it).



I coupon and price match at all chances. I make it a competition with friends to see how little I can spend at the grocery store every week and still feed my family of 5 plus 2 dogs and 2 cats.



Last month I spent a total of $350 for the entire month.

Sarah - posted on 01/11/2012

Sit down and write out your budget. We divide ours into fixed expenses (hydro, gas, telephone), then into expenses that can be varied (food, gas for the car, extras). You look at all the sources of income you have (income, unemployment, welfare, whatever) and minus off your fixed expenses first, then you know how much you can spend on your varied expenses. You may find you have a discrepancy, meaning you may have to find another source of income, or see that you're doing just fine. Either way, you'll be able to see where you can cut. Whether it be cutting down your cable service, or cell phone service, or shopping at discount stores, using coupons, taking public transit, walking, or biking as opposed to driving, etc. Also teach your children that you need to live within your means, cut out extra spending. Use the opportunity to teach them to work for money to buy those extra goodies, like a night out at the movies or a restaurant.

Esther - posted on 01/11/2012

Sorry you are in this situation. I know from personal experience that sticking to a budget when you never had the need to is hard. But I am pretty good at it now and see saving money as a sport now. I recently bought my son a "new" winter jacket at a thrift store for 6 euro's, new price would be anywhere between 15 and 25 euro's. Big save. I buy clothes at the thrift store for him quite often and I think it has saved me over 100 euro's in the last year. Especially since they sell branditems for a tenth of their normal price.
I also get cash for groceries, gifts, clothes etc each week. I have a set amount and when that's gone I need to wait till monday. I take out the money on monday and take my bankcard out of my wallet so I don't get tempted to use it. The amount is based on 2 things: 1) an average of money spend in grocery stores, calculated over a period of 10 weeks. 2) the amount of money we actually have left over after all the bills are paid.
Write down what comes in and what goes out and see what's left at the end of the month. That is what you could use for groceries.

Good luck. It is hard at the beginning, but it can be done!!

Melysa - posted on 01/10/2012

hi Becky, I did not mean to make you think I was offended just trying to inform why I asked without trying to offend or misinform or whatever the different systems can get confusing when you are unaware of the way they work I know that life in England for example is very expensive and is going up in most if not all areas globally the thought of living off $1000 a month is incomprehensible after all that is just my rent per month and I have a low rent
I hope that we can all get past the lows quickly and enjoy happy and healthy lives with our filies without too much financial struggles

Meta - posted on 01/07/2012

My family has been were you are at several times and we are now climbing out of it. A couple things that have definitely helped is monitoring what you spend. I found mint.com last year and it has been incredibly helpful to help me see where I am spending our money. Dave Ramsey has a great money management software tool called " Financial Peace University". That with mint.com has helped me learn to budget. I have also started billpay to help with getting bills paid under control. I do every other week to help make a payment when my husband gets paid. The cash envelope system is great too, you have to be willing to downsize and that can be hard. Find a second job maybe childcare for a child in your home. Sell stuff through Amazon, or craig's list or have yard sales. You can get through this. If you need more ideas feel free to message me. I have 2 boys and we live on a very modest income. But we are blessed to have a roof over our heads and and food on our table ( due to great sales at right times). Blessings on your family.

Becky - posted on 12/08/2011

I totally understand...no worries and I truely hope I haven't offended anyone...here in my state of KS, depending on agency, it is between $18000 a year (I was mixed up on numbers) to $24000 yr for family of 2 with only grossing $1000 in a month. Sorry for the confusion.

Melysa - posted on 12/08/2011

not confusing them was unaware of two different types but they are not available where I live. (either option). we can get government assistance and I do as my husband is on a low wage and I study full time, I have had to learn to live on a budget since my husband had a disagreement with an employer and was illegally fired from his management position if not for his pride I would not have had to be as good at my budget as I have become, with no stamp system available here and the majority of suggestions seeming to be based on them I simply wondered if the country of the original posts author had the system in place, if only the catalogue is available searching out the best specials and planning your meals that way may help as for the $2400 part of the comment from Becky is that saying that is enough or not? im not trying to be rude or a smartarse but living expenses are different in different countries that could be considered wealthy in some countries (not here) comfortable in others and some you would barely be able to put a roof over your head

Becky - posted on 12/07/2011

some states seem to pick $2400 for a family of two for monthly income, checkout your state regulations and try for Fed Aid. That way your anxiety to pay for it all will be less if you don't have to concentrate so much on food for the family. Yes it's (gasp) welfare) but you have/are paying your taxes so you can feel OK about accepting just a little bit of help...I've had to do that when I was pregnant and working part time until something better came along.

Becky - posted on 12/07/2011

Melysa : I think you are confusing US Federal Aid (food stamps) with the coupons you find in the Sunday or Wednsday newpaper. Federal aid food stamps really help too, IF you qualify and then it can also be a hinderence because if you make $1 too much for the program, they instantly cut you off with almost no notice and don't care if you are behind in your groceries for the month.

Melysa - posted on 12/06/2011

everyone seems to be suggesting food stamps as this is not available in Australia I am very curious as to what country this help request is coming from I know you can still do lots will little but you need to learn how to make the most of what you have

Susanna - posted on 12/05/2011

Keeping a book on the bills paid, and the bills you need to pay, always helps to let you know were you stand. I myself, write down all the very important bills on paper, with the month and year. on another paper I write down bills paid for that month, with date paid and if I paid in cash, check, credit card or ext, and the amount I paid on a bill and what is left to pay if any. I staple the pages together and write down for each week or biweekly, when ever you get payed, what I spent the whole check on to the penny. Its always good to keep full track of were your money goes. By doing this it will come easier to know how to spend your money for the amount you get each mth. Also have a spending limit for food, clothes, house supplies ext, and sticking to that limit with in your budget can help a lot to. Signing up for food stamps can most likely take the pressure off of worrying about how to come up with money for food. Carry a calculator with you to know that your sticking to your limit. Cuting coupons might help you too. I hope this will help you to figure out a budget for you and your family. good luck.

Feona - posted on 11/30/2011

Well I feel your pain. I was in the healthcare industry and was making great money and when I had my son it all went downhill because of his metabolic disorder. So now I stay at home with 2 babies and its hard. But I have mastered a few things that helps us alot which is coupons. Coupons are a huge blessing for me. I agree with Katherine I dont go extreme either but being sensible. You should go and visit The Coupon Boutique's website. It may of help for you. Plus there are free coupon classes on there too!

Melysa - posted on 11/28/2011

budgets can be hard to get used to and tips vary in usefulness depending on where you live I find that when things get tough I can get us through on just $50 to feed 7 for a week! first off I would sort out the pantry you may find heaps you can do with what you have saving some money for when you need it paying utilities weekly helps take the shock out of the bill when it arrives I find having it set up as an auto payment makes it easier and buying fruit and vege at roadside stalls where available ensure low cost fresh produce that is in season in season food is usually cheaper than the other either way! good luck

Denikka - posted on 11/25/2011

Cash cash CASH.
Figure out what you NEED to spend every month and allocate cash to each item. Like, if you spend $500 a month on food, give yourself $125 a week (or, if you shop like me, $250 every other week) and ONLY use that money. When you see it dropping, you're less likely to be so willing to spend it.
Every pay check should be broken up into the things you need. Divide rent, utilities, food etc into 4 sections if you get paid weekly, or2 if it's biweekly. If you only get paid once a month, you should still break it into 2 or 4 sections and only take that weekly or biweekly amount out of the bank.
Stop using debit and don't use credit if you can help it at all.

Katherine - posted on 11/25/2011

coupons!! I dont go extreme with it like the people you see on tv but i save about 100 dollars a month and its only me and my son. Write up a monthly meal plan and stick to it cut coupons that match up with your meal plan and look at store ads and try to use coupons on items that are already on sale. I suggest a sunday paper per person in your home but you can save money but getting extra sunday papers on monday morning or late sunday when stores mark them down walgreens is where i find them the most. Do a small stock pile of non food items like toothpaste ( which i haven't paid for in a year ) and remember to check your stores policy some stores double and triple up to a certain amount and check your stores and manufacturer websites they offer extra free coupons hope it helps