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NuAttitude View Drop Down
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    Posted: Jul 09 2014 at 10:30am
In today's economy, I am having to "rob Peter to pay Paul"  My question is how does one survive in this economy?  Do you have and stick to your budget?  Do you live above or below your means?  I'm just trying to get an idea of what to do in order to stay afloat!Embarrassed  I'm tired of working 3 jobs and I've got to let one go due to health reasons.
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jonesable View Drop Down
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Post Options Post Options   Thanks (6) Thanks(6)   Quote jonesable Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2014 at 10:34am
Do an easy 50/20/30.

50 percent goes to all bills and expenses.
Like gas and all that

20% off top goes into a separate savings at a different institution away from normal checking

30% is what you get to spend.

That's a basic budget I explain to ppl and its easy to stick to
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jonesable Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2014 at 10:36am
I live way below my means in an effort to save and invest more for retirement.

I may not live lavish now but watch out for me when I have my salt and pepper fro chilling with my drink and my SO ballin out of control
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Tell us about your expenses and your financial priorities
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Post Options Post Options   Thanks (1) Thanks(1)   Quote MissDarkEyes Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2014 at 10:39am
Originally posted by jonesable jonesable wrote:

Do an easy 50/20/30.

50 percent goes to all bills and expenses.
Like gas and all that

20% off top goes into a separate savings at a different institution away from normal checking

30% is what you get to spend.

That's a basic budget I explain to ppl and its easy to stick to
 
 
 
Pretty much.  Though I do 50/30/20 LOL 
 
 Also if you haven't already, download that Mint app.  So you can be properly shamed when you go over your Starbucks and dining out budget! 
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jonesable View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jonesable Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2014 at 10:41am
Think of saving like paying yourself.
Make it a requirement not an option.

Have you gotten an insurance quote recently so you could save money there?

If you have a debit card get rid of it for the time being.
Get an ATM card.

You're less prone to impulse and dumb buys

Edited by jonesable - Jul 09 2014 at 10:42am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote NuAttitude Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2014 at 10:45am
Originally posted by SamoneLenior SamoneLenior wrote:


you have to be disciplined

I find the "but I deserve it" attitude really hurts people

it's my birthday, so I deserve this

I worked really hard so I deserve this

I mean on a certain level you might but if you can't afford it you are only hurting yourself by purchasing it

you know what you make each week/two weeks/month

make a budget from that

you know your bills (I like to split my payments for each bill for each paycheck I get, that way I can spread it out and not be overwhelmed when bills are due)

pay your bills first, then pay yourself (this means save some money. I like to have it go directly into my savings accounts so I don't have to make the decision to move it every time I get paid)

now budget your daily/weekly needs and wants with what is left

I like to take what is left and divide it by the number of days till I get paid, that gives me a daily budget max

with my credit cards I only charge what I can pay off in 30 days or less

I don't pay interest on what I purchase with my credit card

I have to wait sometimes to get things I want but I am okay with that

I also can't buy certain items but I m okay with that too

I also get daily emails and texts from my bank that state my balance
This is what I started doing. And it has helped.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MissDarkEyes Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2014 at 10:49am
Also, if you have any store credit cards, cancel them.  The temptation is too great and the interest WAY too high.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jonesable Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2014 at 10:57am
I split mine too.
Just makes everything easier
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Post Options Post Options   Thanks (1) Thanks(1)   Quote NuAttitude Quote  Post ReplyReply Direct Link To This Post Posted: Jul 09 2014 at 11:00am
Originally posted by jonesable jonesable wrote:

Tell us about your expenses and your financial priorities
I am an emotional/impulsive spender.  I believe that's what got me in trouble in the first place.  I used to work 3 jobs and got anything and everything I wanted. But now I'm down to two and my bills are out of control.  I'm trying to get them in order one by one but it seems as though the harder I try, something seems to go wrong and I get deeper into the hole.  I can see the light, but it is taking longer than I expected and I hate depriving myself and my child. It makes me feel bad and then I get depressed and BOOM!  I buy something or go out and splurge just to make me feel "temporarily" good for the moment.Ouch  But I'm getting better finding ways to budget.  I've cut down cable to the very basic.  Once my Fios intro package expire, I'm not sure what I'm going to do.  Maybe just Wi-Fi and land line.  I bag my lunches which has saved me TONS of money since I work in the city, and only go out twice a month.  So I'm just searching and reaching out for ideas.  Thanks for your advice.
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