At Wit's End! Budget Suggestions?

iVillage Member
Registered: 02-19-2004
At Wit's End! Budget Suggestions?
4
Thu, 12-08-2005 - 1:01pm

Hi all. I'm home from work on my lunch break, and as my discussion title illustrates, I'm at my wit's end today! I'm so upset. I found out, by having a very rude tax preparer look at my paystubs, that I will STILL owe money to the IRS this year. I am now in a higher tax bracket due to my salary this year, and even though I had my company take out extra federal taxes to avoid this very problem, I WILL STILL OWE!!! She actually told me that I shouldn't get married next year like I have planned and just have a couple of kids out of wedlock and I would get some money back!!!! Can you believe that?!?!?! I was dumbfounded! I called the tax company's headquarters and complained about her. I thought that was incredibly unprofessional.

Further on from that,my checking account got overdrawn and I had to borrow money from my brother (which I intend to pay back ASAP!) AND my cell phone company says I owe them $241.00 by next Tuesday, which is absolutely ridiculous. I switched my plan today and cut it way down. Our plan hasn't been right since we signed the contract in July 04. Charges kept mysteriously appearing and we would dispute them and then the next month...there they were again. Frustrating and expensive! Anyway, I think I have it fixed. I just have to come up with the money by next Tuesday.

I'm just looking for support and wanted to vent. I have so many bills to pay and my huge student loan payment is coming due next week, among lots of other bills. I also would like suggestions on how everyone works out their budgets, so I can start the new year off right and get on track with my budget!

Thanks SO MUCH!
Angelpie41

iVillage Member
Registered: 01-06-2005
Thu, 12-08-2005 - 3:16pm

Get ahold of the company you are paying for your student loan and see if you can make arrangements due to financial hardship to not pay for a few months. That would probably give you the boost you need to get caught up. And the interest on those is low enough, it shouldn't be too bad.

Good luck!

~Aravis~

 

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iVillage Member
Registered: 02-19-2004
Thu, 12-08-2005 - 8:59pm
Therein lies the problem. I just refinanced my private loans with Loan to Learn through financialaid.com and my interest rate is not low. I'm working on my credit to get that problem fixed and they don't allow forbearances or postponment of payments unless you're out of a job, which I am not. Tough problem. I really need some budgeting suggestions.
iVillage Member
Registered: 10-10-2003
Fri, 12-09-2005 - 9:02am

Have you tracked you spending?? Sometimes it is the little things that youtake for granted the sucks the money right out of your pocket.
Try getting a little notebook or a scrap piece of paper and tracking where you money goes for as long as you can, (a few days,a week, a month) Use this to identify leaks in your budget. This is the only way I know of to identify where you can scale back.

I have quit getting coffee on my way to work everyday, and this saves me $1.55 a day, over a year that is more than $ 400. We have also no longer have cale or sattelite TV, just plain old antenna, saving $ 65 a month. We also gave up highspeed and wnet backto dial-up, saving $ 35 a month.

Hope this helps, let us know how you are doing.

iVillage Member
Registered: 11-14-2005
Fri, 12-09-2005 - 10:50pm

I am a CPA. I have prepared taxes for years, actually almost 10. The laws have recently changed so there is a much less marriage penalty. I would actually save money by getting married this year! So I think you should get another tax preparer. I would suggest a local CPA. Usually small firms do not charge that much more than H&R block or Jackson Hewitt. You get a REAL CERTIFIED accountant, not someone that took a 40 hour class. Plus alot of CPA's will help you with your budget problems and offer suggestions. I would definately check it out! That part of my job is my favorite, knowing that I helped someone that was having a really hard time.

Leisa