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.
ok I read somewhere on this board, I believe it was from messenger, but to round my check deposits down to the nearest hundred, and round up my bills to the next denomination. well this is my first month trying it. I hope it works. I logged my amt down, and I only have 76.00 to spend until next payday.
I paid 1/2 a fine this payday, and my SO is going to pay the other 1/2 on this next Friday. Or he has until the 20th of next month to finish paying it off.
This payday I paid my phone bill, my electric bill, this fine, and my cc. For my cc, I pd $80.00 instead of the amt. of $30.00 they asked for. I get paid bi monthly, so I will make another payment this next payday on my cc, and the other half on my electric bill.
I also have a house payment that was overdue about 3 months from when I wasn't working, I added another $20.00 to my house payment so I could catch up that way. It gets automatically withdrew from my check, so I don't miss it along with a loan payment that also gets withdrew.
I need to sit down and get all my bills together and start keeping track of each of them, the ones that scare me are the 3 repos that I have to pay, they just seem too overwhelming to me. I need to get my credit reports from all 3 companies too. ugh. what a hassle, but my goal is to be debt free, in at least 7 yrs.
so wish me luck as I take on this endeavor. I will start posting at least every 2 weeks about my success and failures.
I paid 1/2 a fine this payday, and my SO is going to pay the other 1/2 on this next Friday. Or he has until the 20th of next month to finish paying it off.
This payday I paid my phone bill, my electric bill, this fine, and my cc. For my cc, I pd $80.00 instead of the amt. of $30.00 they asked for. I get paid bi monthly, so I will make another payment this next payday on my cc, and the other half on my electric bill.
I also have a house payment that was overdue about 3 months from when I wasn't working, I added another $20.00 to my house payment so I could catch up that way. It gets automatically withdrew from my check, so I don't miss it along with a loan payment that also gets withdrew.
I need to sit down and get all my bills together and start keeping track of each of them, the ones that scare me are the 3 repos that I have to pay, they just seem too overwhelming to me. I need to get my credit reports from all 3 companies too. ugh. what a hassle, but my goal is to be debt free, in at least 7 yrs.
so wish me luck as I take on this endeavor. I will start posting at least every 2 weeks about my success and failures.
I know it ultimately comes down to me and how I spend, and I need to set boundaries. I would of been fine but my SO wanted to go to his mom for money for last weekend, and I told him no I wasn't going to do that. i told him I don't need his mom's money, that I can make it on my own and i did, but I overspent, and it wasn't for anything that was needed. I am so frustrated right now, why did I let myself get so out of hand. ugh
Also I gamble. I tried going to g.a. but decided that I don't need help, I am a addict I know but I choose not to get help for it. I don't know if anyone understands but Its my pass time, I don't like get overboard with it where I am at the casino just trying to win, I know the jest of it, the machines are like arcade games except every once in a great while you get money back. Not what you put in. I only take in what I can afford to lose. Just like an alcoholic, I am a binge gambler. I will be ok without gambling for awhile than one day I will just go and gamble over 100 dollars. no questions asked than I feel down in the dumps for a couple of weeks and then I get back on the wagon and start all over again.
So this is where I am at. I am overdrawn in my acct, because I can't say no to my family and I like to gamble. But my bills are pd. make sense.
1. Increase income - get a 2nd (or 3rd) job, sell stuff, etc
2. Increase debt - borrow, use credit cards - I don't recommend this
3. Decrease expenses - budget for mandatory expenses, ELIMINATE ALL DISCRETIONARY SPENDING
To gain financial freedom, one must be willing to make that the #1 priority. Difficult choices must be made; until one is %100 committed to this process, it is difficult to be successful.
Babyrena, have you every tried the "envelope system"? In this "cash basis" system, make a budget listing all your mandatory expenses - housing, utilities, transportation and food and SAVINGS. Get an envelope for every budget category. When you get paid, cash your check and put the budgeted amounts into the envelopes. That is how much $$ you have to spend - period. When you go grocery shopping, only take that week's $$ and buy accordingly. I have done this, even when it means telling the checker to remove certain items from my bill and basket because I went over the weekly grocery budget.
This also helps prevent you from "robbing Peter to pay Paul". If you are on a cash basis and want to buy that cute pair of shoes, instead of swiping a debit card or getting cash from the ATM, you have to physically take money from the mortgage envelope or the utility envelope; you physically see that you are taking appropriated funds for other purchases. If you can justify being short on your mortgage payment or electric bill b/c you want a $30 pair shoes, buy the shoes. I could never make that justification.
You are right, "it ultimately comes down to me and how I spend, and I need to set boundaries."
Remember, most short term sacrifices are rewarded with long term gain.
For me, I knew I didn't get into my mess overnight and I certainly wasn't going to get out of it overnight. Scarlett is right, the short term sacrifice is nothing compared to the freedom that awaits...
For me - "wants" were gone and "needs" were met. After a short time, I realized that my "wants" disappeared.
I have tried working a couple of jobs, that didn't work, the only way that worked fore me was by reducing expenses and by doing that I asked myself, "Do I really need that (or this?)"
So now to start all over, I believe in when you fall, you get right back up and try again. So here it goes this Friday i will do the round down and round up thing, and when the money is gone, I no longer get to spend any more.
I have to set my boundaries and make it known that this is my money, I work for it and I need to make it last past the two weeks I get pd.
I have tried everything to get my family into the habit of saving, but it is to no avail. I deplete any and all my money before the end of the wkd, and have bills pd and children needs took care of, but I am broke anyway, I am trying a home based, business, but its not getting off the ground.
I am not the pushy type, I am taking classes online in sales and how to make sales, but I believe I have to get into something that people want.
whew! any ways This Friday my goal is to make my paycheck last longer than usual.
Have you ever tracked where you money goes? Have you ever recorded every penny that is spent, from a $0.75 soda, $6.00 at McDonald's to your utilities, groceries and housing expenses?
It was quite eye-opening when I realized we were spending about $60 a month on Dr. Pepper - that's my entire phone bill! Obviously, we made some changes!
If you do that, you will be the areas in which your budget is leaking like a sieve.
Good luck!