Any ideas on how to adjust my budget?

Avatar for gustin
iVillage Member
Registered: 04-02-2003
Any ideas on how to adjust my budget?
3
Mon, 11-29-2004 - 8:20pm

Here's what we are working on. (Just started trying to figure it all out today and yesterday)

Net Income- $1200/month (right now only the man is working)

Housing- 28% $325
Auto- 10% $120 (insurance & gas)
Phone- 5% $60 (tracphone)
Savings/Emergencies- 10% $120
Laundry- 5% $60 (laundrymat)
toiletries/etc- 2% $25
Medical- 4% $50 (old bill)
Clothing- 1% $12
Debt- 8% $95 (hopefully paying off old phone bill)
Electric- 25% %300

A few notes on this. Our food is covered by means other than cash. Our phone is at this time a track phone (cell where you pay by the minute). We are looking to pay off one of our phone bills so we can get a landline again. We also use a laundrymat for the washing. So, things we can't cut down on are Housing, Auto, Phone, and medical. (We're looking at ways to cut down on the laundry bill) Also as far as savings/emergencies goes we are trying to put money towards a new apartment as we are pregnant. Any ideas how to cut back on laundry, toiletries/cleansers/etc, and electric? We might also be able to cut back on debt payment but that would make it that much longer before we got a landline. A landline would cut our monthly phone expense in half.

The budget I've outlined above leaves us with about $30 plus the child support I may or may not get. PLEASE HELP!

Amanda G

iVillage Member
Registered: 07-23-2004
Mon, 11-29-2004 - 11:12pm

I am imagining you follow the care label on your clothes at the laundromat.

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iVillage Member
Registered: 06-04-2004
Tue, 11-30-2004 - 11:17am
I agree on the washing of clothes, I don't wash most items every time I wear them, pants, sweaters and the like can usually be worn a couple of times before needing to be washed and they will hold up much better. I also use less when it comes to most cleaners, shampoos (I never lather twice!). I too keep the lights off most of the time and most times I only turn the heat on to take the chill off and always put on a sweater if I'm are cold before turning on the heat. It's a whole bunch of little things that you can do that will add up to BIG savings in the end. Good luck!

~leanne

deciding to be happy doesn't mean that everything is perfect, but that you had decided to look beyond the imp

iVillage Member
Registered: 02-14-2004
Tue, 11-30-2004 - 11:52am

Usually the electric company gives a 20-30% discount to households below a certain income level, and a lot of times if you get some kind of assistance, food stamps, etc., you automatically qualify. Definitely look into that, I think it would help you a lot. The phone company has a similar plan when you are able to get a landline.

You also may be able to exchange services with a friend: right now we have a washer/dryer but 2 friends of ours don't. So they come here to wash/dry and in return they do some housecleaning for me (while waiting on the laundry). It works out great, I need the maid service and they get to do laundry for no cash out. So don't be afraid to ask friends for an even trade!
As far as gas goes, if there is a WalMart nearby they do offer 3 cents off per gallon if you use a shopping card. We get a shopping card, load it monthly with gas $$, and just use it.