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More going out than coming in

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8K views 48 replies 23 participants last post by  Jblank6072 
#1 ·
Like the title said. We have more money going out than coming in, and it's going to get a lot worse when winter comes.
I spent the day yesterday reviewing this forum, and I'm feeling a lot better knowing that I'm not totally alone, and I'm getting some ideas from what others are working on here.

Here's what I'm working with :

Income : about $574 every 2 weeks.
Food Stamps : $248 ( just got approved)

Mortgage : $377

Gas / electric :$139.00 it will go up as soon as the heater starts running. Last year it was $350ish in the winter.

Phone, internet, direct tv : 88.50

Auto ins min due $149.24 next month.

CC1 : $4131 min due $85

CC2 : $202.95 min due $62

CC3 : $1518 min due $141

CC4 : $ 117 min due $25

CC5 : $96.36 min due $25

2 prepaid phones @ $25 a month each

At this point everything is current except for the electric bill.

I don't know what I'm spending on gas for the car. Probably $80 a month if I just go to work.

I work out side of the home.

DH has been the stay at home parent, but now that DD is in school all day he is looking for work. ( or he says he is)

DD is 7 and a full time first grader.

I'm pretty sure I qualify for an Assurance wireless ( free) phone and once Dh's phone has minutes to last a couple of months ( they rolled over)

I have an appointment for the weatherization program this week.

The car is paid off and I talked to the ins co about lowering the rate. They could only go down about $25 a month.

I'm not sure what to do about next month. I won't be able to cover everything again.

Someone told me that as long as I pay the credit cards something they won't charge late fees.

Or should stop paying the highest and pay off the lowest ones?
Then resume paying on the higher ones?

I'm not sure how to tackle this.
 
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#2 ·
Since you just got accepted for food stamps I would suggest you apply for heating assistance and in the summer electric assistance. Some states will automatically put you in the system when you are on food stamps. Just need to make some calls. Usually your utility bill will have numbers to call for HEAP or LIHEAP. That should also help with you utility bill. At you appointment with the weatherization people they should also be able to point you in the right direction to get assistance.

As far as credit cards go, you can talk with someone at a non-profit credit counseling place over the phone. They may be able to help lower you total amount owed or help you negotiate a price to pay but you would need to go for an appoinment.

Your husband might be able to find some part-time work helping people with their lawns. With fall here many people need help keeping up with the leaves or even getting their house ready for the winter.

Do you have any items you can sell on e-bay? Do you have enough items to have a yardsale?
 
#3 ·
I have not had much luck with getting help with the credit cards in the past. I don't think any one wants to help me with them as long as they are current, which they are at the moment.
I tried to talk DH into selling a couple of guitars, but he's not going for it.
He's willing to sell plasma though :)
 
#4 ·
Is there any chance you can roll the CC's to cards with a lower interest rate? Honestly it looks like you are doing what you can to keep expenses way down. I assume it is cheaper to keep the bundle than drop Direct tv because of contract? Just guessing by the price you have.

If dh is not working does he need a pre paid?

Can you both do plasma?

I would also insist dh make it his full time job to be looking for a job. Please don't take this as me being a jerk. My 18 year old had his hours cut from 36 to 8 a week. He has spent tons of time looking for work applying and making calls and follow ups. If a 18 year old boy can do it so can a hubby and father. Temp agencys are a good way to get training and a foot in the door. Craigslist has lots of short term " gigs" for $.
 
#7 ·
Yes we are locked into the bundle contract.

Dh's phone is paid up for the next few months, then we won't be adding minutes until we can afford it.

Yes we both can and will be donating plasma.

This is going to make DH look very bad, but he has to pay some hefty fines to get his drivers license back making his options more limited in finding work.
He can find something that he can do at home, or someplace he can walk to.
Our plan was for him to start looking as soon as DD was in school full time. I would have been home before she get's off the bus, but for some reason my boss has been bouncing me between days and afternoon shift. Putting a kink in the plan.
 
#5 ·
I would also look into a couple of different insurance companies, basically $150 a month for a car that is not financed seems fairly high to me. But I also realize that I don't know your state limits, your and hubs's driving record ect. But still worth a couple of calls or online inquiries.
 
#6 ·
HUGS..You say your car is paid off? You need to shop around for different auto insurance..Our cars are paid off we did drop collision and have the minimum coverage and we pay $800.00 a year for a 1999 GMC truck & 2004 Trailblazer..


Social services should help you become current on your Electric bill...Where I live we have a option to have a payment plan maybe you can check into it..

If you are finding yourself unable to pay your bill's I would stop paying on the credit cards..I know no one will agree with me on this but I really don't care what anyone think's..#1 is a roof over your head,food,heat and go down the priority list from there..


Do you use coupon's? I save quite a bit by matching coupon's with sale item's.

Making thing's from scratch is also a real money saver..meaning making your own breads,cookies
even your cleaning supply's.

I have power strip's in every room another money saver..

I agree your husband need's to find ANY job asap or sell his quitar's..

I wish you all the best..You WILL get through this bumb in the road..
 
#9 ·
I would also look into a couple of different insurance companies, basically $150 a month for a car that is not financed seems fairly high to me. But I also realize that I don't know your state limits, your and hubs's driving record ect. But still worth a couple of calls or online inquiries.
I will defiantly call around about the auto insurance. I have my homeowners through them too, so perhaps I can get a better rate on that too.

The food stamps will go a long way here, and DD get's free lunch and breakfast.

I get all excited about using coupons, but I have no follow through, but maybe I can concentrate on household goods.
 
#8 ·
Sinc you ge food stamps you are eligible, I have an assurance wirless phone, the minutes are added monthly. call welfare office and ask about how to get the application to fill out for the phone.

With the electric I would maybe go to the salvation army, or even ask welfare (DHHR) if they know who helps with utilities. Good luck.
 
#12 ·
Another thing I wanted to mention is try going to your local Library and get a book called Tightwad Gazette by Amy Dacyczyn this book will show 100's of way's to save money..

Could you tell me what state you live in? Does your grocery stores double coupon's?

I went to my local convience store and asked the manager if I could have all their unsold coupon insert's out of their Sunday paper's..I get my coupon's for free..

When I worked I brought my lunch EVERYDAY and so did my dh..

I also had the coffee pot ready to go including the coffee cup & spoon,sugar & powered coffee creamer right next to it so all I had to do was turn the coffee pot on..

I wash all my clothes in cold water and line dry 99% of the time.

I make my own laundry detergent..You only need 3 tablespoons of detergent..Vinegar for your rinse..I use cheap fabric softener while I can afford it..

I make freezer meal's so when I'm sick or to tired to cook I just pull a meal out of the freezer..example meatloaf,meatball's,stuffed pepper's,soups,chowder's,casseroles ..

When my stores have a good sale on meat I buy extra of that item to buildup my stockpile..

I hope this help's you...Please let me know if you have any questions that I might be able to help you with in any of my post's..
 
#15 ·
4 Cups - hot tap water
1 Fels-Naptha soap bar
1 Cup - Arm & Hammer Super Washing Soda*
½ Cup Borax

- Grate bar of soap and add to saucepan with water. Stir continually over medium-low heat until soap dissolves and is melted.

-Fill a 5 gallon bucket half full of hot tap water. Add melted soap, washing soda and Borax. Stir well until all powder is dissolved. Fill bucket to top with more hot water. Stir, cover and let sit overnight to thicken.

-Stir and fill a used, clean, laundry soap dispenser half full with soap and then fill rest of way with water. Shake before each use. (will gel)
Yield: Liquid soap recipe makes 10 gallons.

-Top Load Machine- 5/8 Cup per load (Approx. 180 loads)

-Front Load Machines- ¼ Cup per load (Approx. 640 loads



This is the Duggard's recipe..I bought all the ingredient's at Walmart for less than $7.00...HTH..
 
#16 ·
You must do something about the cc's. If not, you will be facing lawsuits and garnishment of wages and/or bank accounts which will make the whole budget collapse. Contact Consumer Credit Counseling for advice.

I agree with signing up for heating assistance.

You dh needs to get a bike or use public transportation. I know more than a few guys who are riding bikes due to losing their licenses. I have a client who is a cancer survivor and 66 yo who rides a bus to work in the a.m. but walks about 6 miles home at night after the buses stop running. In all kinds of weather, in rain, snow, 20 below zero. So no license is not a reason for your dh not to find a job. When he does find work, put his entire income towards eliminating your debt.

Keep track of every penny you spend for the month then sit down and evaluate where you can reduce or eliminate expenses. You cannot survive with more going out than coming in -- that's simple math. You can survive without phone, cable, Internet especially with the cell phones. Dh & I have Trac phones and we only spend $19.99 each about every six weeks. We'd don't use the phones constantly like many people do. In fact, I only turn mine on when I want to make a call which is about twice a week (or less). Dh uses his a bit more but still has minutes left to rollover each time.

When your dh starts driving again your insurance is going to go way up due to his poor driving record. It might be just as well that he not get his license until you've the income to cover the increase. Also, I don't see in your list of debts an item for his fines. You need to put those into your budget because he might face jail time on contempt of court if he fails to pay.
 
#17 ·
I'm assuming you came here because you want real help and not to hear what you want to hear. Right?

'Hefty fines' to regain driving privileges = selling guitars. Your husband needs to man up and get on board with supporting his family. Holding onto an asset while expecting your fellow citizens to put food on your table via food stamps smacks of extreme immaturity. Welfare if for those who can't, not for those who won't.

Sorry if that's blunt. Have him read this and if he has a problem with it- reply to me.
 
#19 ·
Income : about $574 every 2 weeks.
What do you do?
Food Stamps : $248 ( just got approved)
Good

Auto ins min due $149.24 next month.
That seems high - what is it that you're insuring?

Phone, internet, direct tv : 88.50
2 prepaid phones @ $25 a month each
Uh - you have phones at home and DH is a stay at home dad. Why does he need a cell TOO?

At this point everything is current except for the electric bill.
If you're going to get behind on something, get behind on the credit cards before utilities or mortgage.

DH has been the stay at home parent, but now that DD is in school all day he is looking for work. ( or he says he is)
He better be - I dunno how you have anyone be a stay at home parent (male or female) on about 1k a month.

The car is paid off and I talked to the ins co about lowering the rate. They could only go down about $25 a month.
Shop around.

Someone told me that as long as I pay the credit cards something they won't charge late fees.
Someone is an idiot. Failure to pay the minimum amount due is failure to pay on time.

Or should stop paying the highest and pay off the lowest ones?
If you have no choice about not paying then you prioritize:
Four walls first - that's roof, utilities, car (fuel/maintenance/payments incl insurance) and basic basic basic clothing.

If you're not late YET on the CC's then I'd go late on the card or cards that will add up to the lowest late fees.

I'd also look for things you can sell to avoid going late.

You've got a LOT of CC debt - what's it been spent on?
 
#21 ·
Also want to put out there that you may be able to get the life line credit on your land line. Since you are getting food stamps you will automatically get it. Since i didn't want the cell phone i am getting $15 a month off my land line. You cannot do both. Congrats on the food stamps, i have found out that it sounds like alot but when its like old mother Hubbard's cupboard they dong go far when you are trying to get the basics!
 
#23 ·
What do you do?
I work in an AFC Home

That seems high - what is it that you're insuring?
That's off it's $135 this month and then $65 a month

Uh - you have phones at home and DH is a stay at home dad. Why does he need a cell TOO?
His already had a bunch of money on it. Once it's gone we won't renew, but it does come in handy when he takes DD to the park, or out walking the dog. But like I said, we won't be keeping it.

He better be - I dunno how you have anyone be a stay at home parent (male or female) on about 1k a month.
We have always been able to swing it up until now. This year has been rough. We usually use our tax return as our cushion, but this year we paid off a credit card with it.
 
#24 ·
You've got a LOT of CC debt - what's it been spent on?
CC1 :

$4131 min due $85 - This card is from when I was an idiot in my 20's.


CC2 : $2202.95 min due $62

Some of this is a trip to Fla that I thought I would pay right off, but we bought a house instead.

CC3 : $1518 min due $141

This is what's left of DH's dental work. It was $6000. Oh the joy's of being uninsured.

CC4 : $ 117 min due $25

Very recent charges. It's for gas & Groceries.

CC5 : $96.36 min due $25

Home Depot

We use our income tax refund as an emergency fund, which worked ok until we bought a house.
2009's return went to a down payment and closing costs.
2010's went to pay off the appliances that we charged.
I also had a lot of car repairs suck up what was left
 
#26 ·
That is great everything is current :)

I feel sure you know this but I want to point it out in case it helps anyone else.

Step 1 is to NOW vow to not get into any more debt period. It took dh and I forever to grasp that. Honestly!!! I came up with plan after plan to cut here~ cut there~ and how to rob Peter to pay Paul!!!!! I was a black belt tightwad as far as stretching a dollar but it didnt matter until we vowed NO MORE DEBT FOR MR and MRS FINALLY GOT A CLUE. I fully admit someone had to pint it out to me :)

Honestly until we took that vow something always came up that caused more debt. We had to find away around our problems without more debt. We went without a lot of stuff. needed home repairs . Dh had to wait ages and ages to get his teeth fixed. We all wore hand me down and yard sale.

We paid of a tad over $46,000 in non mortgage debt. The majority of it was paid off as a family of 4 during the years our income ranged from 24,000- 28,000 a year. Over time dh's income kept going up as he advanced but a good majority was paid off on a low income. So it sure can be done :)

Frugality goes a long way but you have to say " no more debt" or the cycle never ends. Also figure out how much EXTRA income you two need to bring in every month to cover everything including future expenses that come as big amounts less often . If one doesn't budget even a small amount monthly for things that come up like car repairs , Medical etc it is too easy to turn to the credit an loans.

I hope that made sense and i didn't ramble too much. If you need detailed budget help I would be happy to help you. I found a very detailed budget was imperative for us getting out of debt. I have my budget set up weekly and between the 4 weeks have about 28 categories. Anal but it helps me be prepared when things pop up. Heaven help dh if I ever get ill and he has to keep it up
 
#30 ·
I hope that made sense and i didn't ramble too much. If you need detailed budget help I would be happy to help you. I found a very detailed budget was imperative for us getting out of debt. I have my budget set up weekly and between the 4 weeks have about 28 categories. Anal but it helps me be prepared when things pop up. Heaven help dh if I ever get ill and he has to keep it up
Yes, I may want some help setting up a budget.
I have a meeting with community services on Friday, and then I'll know more about what is going to happen with the utility's.

I think I can pay off the two littlest CC's that will free up $50, and the two cell phones will free up another $50 plus my next check will have Holliday pay on it :)

( those are my positives)
 
#32 ·
Good for you! You're taking positive actions. As far as the cc amounts...well we have all "done stupid". If we hadn't we wouldn't have learned from it and pulled ourselves out of it. As I've said in many posts on this forum, take what you can from this forum and remember there are many members, therefore, many opinions. How you live your life is your road to walk...no one else's.There will be many, many great ideas you can derive from here. You will also draw some criticism, but that too can be beneficial if delivered in a kind and compassionate manner. There isn't a one of us that wouldn't cheer you on to your goal and collectively we will be your best support. I've been reading your posts and staying silent because frankly, pretty much every point I could make has already been said. I look forward to seeing you on here...and cheering you on...You go girl...you can do it!
 
#33 ·
everyone is advising you in a positive way. I learned a lot from my FV family.
Do you have a pastor you can talk to in order to keep from getting overwhelmed in your situation?
 
#36 ·
Since your husband is not working are you claiming head of household on your taxes? On cc 3 minimum seems high most min pmts on a bal of 1500 is 20 dollars, it goes against everything I believe in, but sometimes the bare min is all you can pay. Is your car older and do you have full coverage or just liability, on older cars liability is enough. Not trying to be ugly, but if my dh was not working he would be out everyday looking for any kind of work, my saying is, if I can do it myself what do I need you for. Just a thought.
 
#39 ·
Hugs to you, I know it's overwhelming to come on here and air all of your financials to complete strangers! And I'm sure it's hard to hear!

Is there any reason dh isn't looking for a full-time job? You mentioned the fact he is only looking part time is because of your 7 year old. If you were to put her in after school care on the days you were unable to pick her up in time, you would still be WAY ahead of the game with two full-time incomes.

My co-worker is going through this right now with her spouse. He's been unemployed for a year, and loves life. Which equals he is in no rush to get a job. Give your hubby a little nudge, it's the right thing to do.

Good luck!
-Vanessa
 
#40 ·
Is there any reason dh isn't looking for a full-time job? You mentioned the fact he is only looking part time is because of your 7 year old. If you were to put her in after school care on the days you were unable to pick her up in time, you would still be WAY ahead of the game with two full-time incomes.
-Vanessa
He has stayed home with DD her whole life. She just started school all day a few weeks ago. We never needed him to work outside of the home until just recently.
We have always said he would start looking for work once she started school all day.

There is no full time work around here that he would be able to walk or bike to, but he might be able to find part time.
 
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