budget help

[shelby]

Yes part of my problem is not knowing specifically where everything is going so I add the misc for things like clothes, Dr. Car repair and such. So really I have about $200 left over which may be gone now with the rent increase.

[gsbrq]

Feb 20, 2011 17:00:40 GMT -5 shelby said:

Yes part of my problem is not knowing specifically where everything is going so I add the misc for things like clothes, Dr. Car repair and such. So really I have about $200 left over which may be gone now with the rent increase.

So I'd suggest you sit down & figure out how much to budget from each paycheck for those items; otherwise it's too easy to think "Oh, I need new clothes for me/kids", and end up spending more than you can actually afford. Yes, clothes are a need, but you have to know your budget in order to keep within it.

Trying to save whatever's left over...that just doesn't work for most folks, in my experience. That's why budgeting for savings just the same way you'd budget for bills is the simplest way to get control of your spending.

[shelby]

"Trying to save whatever's left over...that just doesn't work for most folks, in my experience. That's why budgeting for savings just the same way you'd budget for bills is the simplest way to get control of your spending."


Read more: notmsnmoney.proboards.com/index.cgi?board=wir&action=display&thread=1809&page=2#ixzz1EXtjZkzz

This is so true and never really thought about it that way, I heard pay yourself first but never really clicked like the above.

I don't want too frugal, I grew up with a father who was cheap to the extreme. Has and had plenty of money but was obsessive about not spending and "wasting money" even things like food and clothes it was insane and caused resentments that I don't want my kids to have. I need to find a happy medium.

[gsbrq]

"I don't want too frugal, I grew up with a father who was cheap to the extreme. Has and had plenty of money but was obsessive about not spending and "wasting money" even things like food and clothes it was insane and caused resentments that I don't want my kids to have. I need to find a happy medium."

I understand that you don't want to obsess to the detriment of your kids over spending.

However, your situation is different, because you have reasonable concerns about being unable to stick to a budget. Think of it this way; paying off your debt and building your cash reserves is the best financial move you can make towards providing a good life for your kids. If that means cutting back on your spending, it is well worth it to achieve your overall goal of financial security for you & your children.

Not saying you should begrudge buying food & clothes for your kids...just budget an amount for them that you can afford, then stick to that limit.

[sapphire12]

shelby -- just wanted to say that you are making great strides in improving your situation by following a lot of the advice you have been given here. Keep up the good work! Please keep us posted of your progress.

[merryheart]

Sapphire, exalted you for being so supportive of Shelby. Looks like she is moving in the right direction and the little bit extra of encouragement can sure make things easier!

[turbothumper]

Shelby: Kudos to you for being so open to everyone's suggestions!! That is not easy! Small changes will add up to big accomplishments. Keep it up!