What do you think?

iVillage Member
Registered: 04-17-2005
What do you think?
3
Mon, 04-18-2005 - 7:47pm

I would like some honest opinions on my financial situation.

Total income- 2100 a month.

Rent - 449 a month
electric- 50-60 a month
water- 12 a month
cable (which includes the internet and a housephone)- 100 a month
car insurance- 282 every THREE months (less than a hundred a month)
Birth control- 25 a month

Total credit card debt, auto debt and student loan debt--- ZERO.
Total in savings- 2300 dollars

My job offers full benefits. I get great health insurance for both of us, life and disability for both of us, 403B and dental optical, etc. The full gammut.

We're also in school but don't go into debt for it.

A little over a year ago, we had almost 3000 in credit card debt, but paid it off completely, and managed to save and live a goodlife.

Wondering if you think I'm ok.
I feel like I am doing really, REALLY good, however it seems like people who make 2-3 times this can't survive?

iVillage Member
Registered: 11-24-2004
Mon, 04-18-2005 - 11:48pm

You are in very good shape! Congrats on paying off your credit cards. They say one should never use more than 36% of your salary on living expenses. You are using 33% and that includes birth control. That is very good.

The reason a lot of people cannot make ends meets with a larger salary is mostly because they carry a lot of credit card debt or are in a too expensive house or car. For those who don't have a credit card or car payments and still have trouble making ends meet, they are simply careless with their money. Some of these people blow thier entire paycheck and say, "Oh my God!" It's the 15th already? My rent is due! guess I'll have to wait till next week to pay the rent." You don't have to have a financed car or credit cards to be careless with money.

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Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Tue, 04-19-2005 - 1:50am

Sounds like you're doing great.

All my best,
Danni

iVillage Member
Registered: 02-19-2004
Tue, 04-19-2005 - 8:39am
The $945 per month I pay for dd's preschool is what throws the biggest wrench into my budget. Also, I have a 2 bedroom place for $1,000 per month and that his *cheap* around here. Some people have different circumstances, and many don't pay attention to their spending and force themselves to live within their means. I am still paying for past mistakes, but one day I will be in your shoes and can focus on investing vs. paying down debt.

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