Financial Challenges Support Group
This community is for people who are struggling to meet financial obligations of any kind. Financial challenges include everything from the day-to-day challenges of making ends meet to managing credit card debt to bankruptcy. Get support from others who are going through similar obstacles on the road back to financial stability.
there is only one meeting I know of that is available for people outside of areas that have in person meetings....it is a telephone meeting....one hour long on Saturday 11am central USA time....went today from beginning to end....I missed beginning last week but got in about 15mins or so late....still needed to be there...
I have been spending money for more than a Month now with not much care for what I was buying....did several items that were immediate needs....car needed brakes....food needed to be purchased....but in general I have blown a bunch of my saved money now which I want to replace ASAP....when it is gone there is no cushion it is back to the paycheck to paycheck mentality....so now I will be putting money away to the best of my ability....
An example, two months ago I applied for UK citizenship. It roughly cost me $2,000. I saved money back from two paychecks and was able to pay it in full without touching my emergency fund or my savings.
But now two months later, I'm still struggling to pay money into the emergency fund and the savings account.. I'm up to date on my bills and still not paying a penny in interest on my CCs... but I feel like I'm falling behind because I'm not adding to savings.
This month, (I get paid on the last day of the month), I'm going to pay at least 10% into savings and 50% into the emergency fund. It will be an extremely tight April with spending money, but I need to get back to paying myself first.
Anyway, how to start? Your first bill paying with any income is savings and it should be at least 10% - then pay everything else. Finally, for shopping always go with a list and nothing added to it when you are at the store. And never go to a store "just to look."
And finally, why save? Peace of mind. I haven't touched my savings in 12 years. It's there if I need it, but right now if I need something I set the money aside and buy it with that. There is such peace knowing that if I got laid off of work tomorrow that I'd be OK. It makes a job a bit enjoyable and makes me less needy.