Hi! Need advice please :) (long, sorry!)

**AGierald** · 01-27-2006, 05:39 PM

Hi there! Im relatively new here, and very new to the frugal life and especially budgeting... heres what I need help with...

Is it realistic of me to try and budget using only my husbands income? My income is variable, as i work from home, so we dont always know what its going to be.... its at LEAST 250 every two weeks, usually more, but 250 is like, the countonable amount..

Is that dumb? to try to live only on his income, and save the rest for a house? Unfortunately, we might not be able to do it, as our rent is about 80% of his income, lol, but I think i can make us come close if we're very careful...

another question is, do any of you use money management software? My mom bought me two books today, "the everything guide to personal finance in your 20s and 30s" and the budget kit, which i wouldnt have bought had i realized the CD in it was a trial CD i couldve downloaded for free (yeah, im dumb)... if you do use one, which one? Im terrible at budgeting, hubby and i have never had one, ever, and we've lived together almost 3 years. We're terrible with money, and it has to stop, especially when we just had a huge rent increase...

any advice is greatly appreciated, and sorry so long!

**homesteadmamma** · 01-27-2006, 05:48 PM

I think it's a very smart move to live off one income and save the rest for a home, especially if you can do it.

I'd also suggest you read as much as you can here to find out how to save and make your money go further. There are so many ways to cut back that it surprises most people when they take a good hard look at what they are spending.

You can do it, it just takes a bit of work.

**canadian gardener** · 01-27-2006, 06:07 PM

Smart, very smart girl!

No you aren't dumb, you are smart like a fox!

Keep going. So you can't quite save all your pay, and live only on his, but as much as you can, do it.

Later when you bought the house, it gives you some margin in the budget, the ability to live off less.

That extra margin of money will come in handy if you wish to do the SAHM route, or if you simply need to fix up the house you buy.

**canadian gardener** · 01-27-2006, 06:08 PM

dh uses Quicken.

It doesn't matter whether you use pencil and paper or software as long as you figure out where all the money is going first, then figure out a thoughtful spending and saving plan.

guest7 · 01-27-2006, 06:11 PM

I agree with CJ amd Margery. It's not unrealistic and it's possible. Lots of people do it. Read all you can right here and join in. There is possibility and great support here.

**AGierald** · 01-27-2006, 06:12 PM

Thats very true... I dont plan to stay at home after i graduate, unfortunately (wish i could, since im agoraphobic

) so our income will hopefully double... if not, i will be able to continue my job now, with more opportunities to make money, considering now I have to take time out to go to school

We definitely cant live off just his, but we can get very close... Our rent is 1k a month and he makes 1500, so it will be very hard, but i know i can stretch the budget to the last penny, i mean, its just the two of us, and 2 cats, no kids or anything... we knew when we moved in here it was going to be EXTREMELY tight, unfortunately, my husband is recently starting to understand that we cant afford the things we could when we lived in a $650/month apt, lol..

im starting to feel better about this, and not thinking that im being completely unrealistic...

**Lucky Star** · 01-27-2006, 06:13 PM

Originally posted by canadian gardener
It doesn't matter whether you use pencil and paper or software as long as you figure out where all the money is going first, then figure out a thoughtful spending and saving plan.

Margery!

I use Microsoft Money to keep track of spending, but I also use Excel to do our monthly budget (I prefer it to Money's budgeting tool). Bottom line is, whatever works for you.

And good job thinking about living on 1 income! Even if you can't do it right now, that's a great goal to work towards, for any couple.

**AmyBoz** · 01-27-2006, 08:19 PM

I don't think it sounds unrealistic.

We use Quicken, and we used to use Microsoft Money. Both are very good, and it's great to track how you spend.

**AGierald** · 01-27-2006, 09:13 PM

I downloaded a trial of money, and didnt like it... then i was gonna do a trial of Mvelopes, but i didnt like that i had to give my cc and then cancel before it charged... then i tried moneydance, and didnt like that one either... i settled on one based on excel, that i think im gonna like... i despise computers, so the fact that the excel sheet was already done for me, i just had to fill it in, was good

**foxxyroxie** · 01-30-2006, 08:14 AM

Good for you. I'm proud of you for trying at least.

Sit down, figure what has to go out, what's coming in and go from there. Maybe you can establish that you save like 75% of what you bring in. That way, you're utilizing some of your income to make ends meet, but you're only spending $125 and still saving $375 per month or more. Besides, just because you've alloted the $125 as available income, doesn't mean you have to spend it!!!!

Good Luck!!!

**FrugalMomof3** · 01-30-2006, 09:19 AM

I dont think your dumb, that's actually a smart way to think.
You can do it, we are all cheering you on.

Believe me it might not be easy in the beginning but I know you can do it and ALOT of us are already doing it (including myself).

**missymomof3** · 01-30-2006, 12:24 PM

Something that helped me alot was writing down everything we spent, no matter how little and seeing exactly what we were spending. You would be amazed at how much eating out and 20oz softdrinks cost! That may out into prospective where you need to cut corners and how much you can save.
Good luck to you!

**AGierald** · 01-30-2006, 03:09 PM

thanks so much ladies, for the encouragement... budgeting has really been scaring me, because it seems like we just dont make enough... i guess, if i have to, i will get rid of cable for a while until i am working full time...

BUT, i get my bachelors in 3 months, so around then, i should be able to find an adequate full time job, and if not, i will continue with my current job until i can find one... So, it makes me feel better than for the next 3 months, we're going to be literally, broke, since our bills and food use our income, but I know that if we can live like this for a few months, and when i get a full time job, and DOUBLE our income, then we will have ALL that money to save for a house (and kids, yay!)

Im already writing down everything we spend... and my hubby is starting to get the hang of things as well, like giving me reciepts, not spending money on junk food, and we made his lunch this morning, and breakfast! we've lived together for 2.5 years and i've never made him breakfast before work, lol... so im getting there, and thank you for cheering me on

**AGierald** · 01-30-2006, 11:12 PM

Im so excited, we cashed in some change jars today, and it was 89.00!!! we put 49 in the bank and took 20 each for spending money for us for a little while... im so glad i decided to take that money in today... that 49 will pay most of our cable bill!

**voodidit** · 01-30-2006, 11:50 PM

Sounds to me like a great idea, it might seem like things are tighter trying to budger just on his income, but in the long run it will be well worth it.