Financial Challenges Support Group

I also do all of the finances, we were doing very well, didn't have to do a budget. November 15th we loose our business & hubby will be unemployed. I don't make enough to support us so its going to get hairy unless he finds a job. I always start with a spread sheet or list of all the expenses & income. I haven't been able to do one yet the thought of not having enough money to pay everything is making me sick.

I know the feeling. Last Fall and Winter my boyfriend was laid off for 5 months. And that was a really long time financially. He got unemployment but it was still hairy. It's a hard feeling. And now, I feel like I've grown but I always want to know how I can get us on top financially and make sure our ducks are in a row and stay in a row. :)

Hi Juliaiera

Welcome to the board! :D

Not sure if it'll help or not, but when I first started budgeting around 18 what I did was first I used a spreadsheet to tally all my monthly expenses. Then I took a month to save all my receipts so that I could track all my spending to see exactly where every dime went.

At the end of that first month I updated the spread sheet to reflect my actual spending habits. Seeing the updated spreadsheet budget gave me an eye opening experience of exactly how much I was spending in certain areas and what areas I could cut down or cut out on.

For fixed expenses I cut out services that I just don't use like long-distance service on the telephone and certain premium channels I don't watch on cable and blue tooth technology on my cell phone since I don't text message at all.

By the beginning of the second month I began living on an all cash budget (unless there was some dire emergency) and using the envelope system for all my non-fixed expenses and I created what I call a "change train" which is simply mason jars I use for loose change.

For me, the envelope system works really well b/c I can get exactly what I need from the bank each week and I can recycle all my loose change into my change train. At the end of each month I always roll my loose change and put it into savings.

If you don't have a savings account you can see which bank offers the highest yielding interest savings account and put your spare change there

Also, since I get a lot of freebie coupons and samples during the week I'm also a later week shopper, which means that I usually do all my grocery shopping or dollar store shopping etc between Friday after the mail comes, Saturday or Sunday.

To save on groceries I clip coupons and use a site called Shortcuts.com and Pgesaver.com to save more money on my purchases at Kroger Family Stores.

I also brown bag-it whenever I can instead of eating out or using a vending machine. Not to mention that I also stock up on sugar-free drink mix stix from the dollar store and walgreens which I drink as a treat when I'm on the go and want something to drink aside from water.

When I shop on-line I always shop through a rebate site to save more money. My favorites are Shopathome.com (they still give you cash back if you use a giftcard), ebates, cashbaq.com and mrrebates.com. I also like couponcabin.com for more money savings codes. I also like mypoints.com because I like earning points to get free Walgreens gc's to keep my laundry stockpile going. LOL

Depending on where you bank, you could also ask if they offer a rebate site or points for shopping online w/ your bank debit card.

Other small changes I made too was to register all my store cards like to CVS, Kroger, and the gas station as sometimes they send you freebies for being on their mailing/ e-mail list

I also let both he laundry and the dishes pile up so that I can wash larger loads then a bunch of small ones. When it comes to laundry or household supplies I usually hit the Dollar stores like Family Dollar b/c they take coupons or the Dollar Tree.

Lastly, I found that "greening" and weatherizing the house helps on the utility bills too. For example, every bulb in my house w/ the exception of the overhead stove light is a compact energy saving bulb. I usually weatherize for the winter every year on Oct. 1st since the weather slowly starts to turn, this helps me from having a lingering draft in the house when the weather really starts getting cold.

De-cluttering and selling off what I didn't use, didn't watch or wear anymore also helped, especially my emergency fund. When I was in college, I used to challenge myself every to come up w/ creative ways to earn an extra $50 a month w/o just taking the easy way out and rolling over $50 from checking to savings. I think people would actually be surprised at how much creativity they really have when they have to hustle and be inventive. LOL!

I also recycle what I can even if it doesn't pay much because it helps the environment and my change train. LOL! I usually go to the recycling center on my way to running errands somewhere.

In addition, when occasions like my birthday or Christmas come around I usually hint at gift cards since I can always save them and use them for later, especially when gas starts to spike in the summer that $10 gift card sure goes a long way.

Finally, I also made it a hobby to collect points like Coke points. I usually don't drink much soda at all, but my friends do but don't have the patience to collect the points so they usually save them for me. I can't tell you how many free 20ozs or free fridge packs I've gotten through the years. Not to mention the free magazine subscriptions. Now for things like movies or books I usually go to the library or trade w/ a friend.


My last piece of advice would be to create a "Just in Case" spreadsheet of helpful resources offered in your area on a USB drive.

I think its important that everyone who runs a household know where all their towns help organizations like the Salvation Army, St. Vincents, pregnancy care centers, health clinics, homeless shelters, food pantries, Planned Parenthoods and Jobs and Family Services Departments are just in case an emergency need arises

Well, good luck. I hope your budget turns out well for you and DB. :D

. I can't tell you how many times my JIC spreadsheet has helped either me or someone I know. And by having all the info on a spread sheet on a USB drive its easily update able and portable.

I always shop the sales at grocery stores. I have about 5 different grocery stores all within a stone's throw from my house, so I hit them all. I do a lot of my everyday shopping at Aldi's. They are by far the cheapest.
And then I focus on making the most inexpensive meals that I can.
It really helps to write down every penny you spend, by category. It can be quite an eye opening experience and it becomes obvious where you can save money.
In the cold weather, I keep the house temperature at about 63 degrees and just wear a lot of sweaters. I put up plastic in all the windows, to keep the drafts out and get a humidifier going, so that the place feels more comfortable.

Hi Sweet Pea -

Thanks for the great advice. I do keep a spreadsheet. I'm always tweaking it to see how I can save money here and there. The one chore I should sit down and do, is track my monthly expenses. I just have categories right now for my set expenses like bills and then the rest I put into savings or our extra spending.
Any other advice in regards to spreadsheet tracking?
What's a JIC spreadsheet?

Hi Julia.

You are very welcome for the advice. I'm glad I could help. :D

As for spreadsheet tracking software there are programs like Microsoft Microsoft Money which I think is converting to Quicken that you can used to track your household expenses.

If I remember correctly, you put in your net and gross pay and all your monthly expenses and it shows you pie charts and tables of how much money you have at like the beginning of the month when most bills are due and how much you have left after the bills are paid and for non-fixed expenses. I know w/ some programs you can also set financial savings goals and it can tell you how close you are to reaching your savings goals.

You can also do the same type of tracking on a regular spread sheet but you would have to use addition and subtraction formulas by hand

Also, a JIC spread sheet is just a list of resources that can come in handy if an emergency need arises for you financially where you might need help. For example, on my USB drive or thumbdrive I have a spread sheet I made called "Help Resources" and it has catergories called Food, Clothing, Shelter, Utilities Misc. and Important numbers

For example under Food I have a list that I made w/ the name address and ph. # of every foodbank, salvation army and family resource center that is within a five mile radius of my house. That way if I ever have an extreme financial crisis and I am unable to buy food or the car ever quits I would have at my finger tips the names of agencies that could help me w/ food for the area I live in that I could possibly walk too..

Its the same for clothing, utilities and MISC. and for important numbers its just numbers for agencies like 1800FREE411 or my local United Way help lines like 211 and their other lines for the offices that they have in my area.

Having a JIC spreadsheet also helps me to send help info to family and friends that may hit hard times much faster since I can just e-mail them my spread sheet and they can pick and choose what resources they need to utilize and they like that they can save the spreadsheet on their own thumb drive for future use too.

I also like it because when doing the monthly budget if there was ever a time that I couldn't pay something like a phone bill or the utilities would know places that could help me somewhat right away when they have funds which is usually around the first week or two of the month before they have to start turning people away.

For me since its hard to think when I'm in a financial panic, I always like to be prepared. I forgot to mention that it is also helpful to make a note on your JIC (just in case) spreadsheet of any resources that you have used because some places offer only monthly help and others offer help only once or twice a year depending on the agency. That way if they use a computer system to track what recipients have gotten help you wouldn't have to waste gas driving to a place just to be turned away because a month or year hasn't passed.

:D

I'd be happy to exchange budget advice with you and others. I've been gearing up to straighten out our budget this fall. The problem we have is that we own a small business and our income varies a lot from month to month. The only thing we can count on is that we usually make more during the summer months. I do have an idea of the minimum amount we need to cover our fixed expenses with some left over for groceries, etc. We try to make sure we have enough to cover fixed expenses by doing a night deposit most evenings into an account for which we have no debit card. We use that account for our house and store rent, which are our largest expenses, and any left over goes toward utilities, etc. One thing that really frustrates me is that my husband has a tendency to spend largish amounts of money without discussing it with me. I'm not sure how to get him to stop doing this. My own vice is a tendency to fritter away small amounts on things like buying lunches and junk food. I have made a vow to myself to try to get that under control. Anyway, good luck with the budget. The people who have posted before me seem to have some great ideas.

Another thought: If you need something, it often helps to let people know. My 20-year-old bedspread was getting past being usable and my enamel stockpot was really dinged up. I kept mentioning it to people and eventually found out that my mother had a nice comforter and a stainless-steel stock pot that were just gathering dust in her closet. I've gone to a couple of clothing exchanges, too, which were helpful and a lot of fun besides.