Teach me how to save PLEASE
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Teach me how to save PLEASE
| Wed, 07-29-2009 - 3:14pm |
Hello all i am new here and of course i am searching for help. I am over my head in some debt. i dont know how i
| Wed, 07-29-2009 - 3:14pm |
Hello all i am new here and of course i am searching for help. I am over my head in some debt. i dont know how i
If you post some of your numbers, there are some ladies on this list that are wonderful number crunchers and will help you see where you can cut back.
Write down all of your expenses - figure out which are fixed expenses that you can't change, and then work on cutting back on your variable expenses. Any money you save on the variable expenses can be put towards your debt.
One thing would be to start writing everything down. Get an inexpensive little notebook and keep track of every penny you spend. That way money can't escape. It is so easy to start with $20 in the morning and not remember where it all was spent at the end of day so write it down as soon as you have spent it. It also helps with having you stop and think if you really need to make that purchase.
My big thing now is to wait 24 hours before making a purchase, often I decide that I really don't need it or I discover that I already had something similar at home.
I know you will get lots of other great suggestions from the people here.
Sharon
i appreciate it. My biggest problem is those silly cash checking places. i can not afford them at one time. but i got myself in it and i got to get my self out of it.
my husband is disabled and i work. we have a fairly decent income but still live paycheck to paycheck.
example of my life: by the end of the month i am totally overdrawing and out alot of fees. we have cut out just about all of our eating out. that has helped. we eat at home now.
Welcome to the board
First thing you need to do like you said get out of the cash advance places they will kill you. Interest rate of those places are like 400%-500%.
First thing we all do is learn where our money is going. Most of us start with a 1.00 note book from Dollar Tree. And keeping track of all our spending for a month or so then making a budget using these figures.
The budget always comes first.
With you and the problems you have It might take some real cutting back. Using a lot coupons
This is based on the numbers you gave us.
Monthly bills and expenses $2128 (rounded) this includes $200 to your personal loan.
Pay day loans
I see all your payday loans are due the same day your husband gets his cheque, is it possible to pay off at least one completely? Then you won't have the interest racking up on one. I'm not 100% sure how payday loans work, but if you can pay off one per month completely without having to borrow from them again you would be clear of them by Nov. Then you would have that money to put onto your other debts to catch them up and possibly put a bit more than minimum on them to get them paid off sooner.
Sharon
You put your numbers up while I guess I was writing my reply.
Check with the county tax office and see what you need to do to apply for a disability
Thank you all so much for your help and just listening to all of you helps so much. The reason i had so much extra income like 700. something was because in july we get that 3 rd check for the month that we do not normally get. so that gives me extra income.
looking back at the check book we blow so much. eating out, gas and walmart... all of these are regulars in my checkbook.. I have told my husband i have 2 truck payments due and he agreed they have to both be paid this time and he said any bills you have has to be paid. he understood. i did not tell him about the check places yet. he fell ill tonight. he is a bad diabetic and that is another big bill i forgot around 115.00 or more on his meds a month.
You are your family are in
Bex -
Ok, let's get the monkey off your back and live like no one else this month.