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Is there anything else could do to save more?

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29K views 84 replies 38 participants last post by  MsMarieH 
#1 ·
My husband and I are starting our journey to financial peace. :) I was hoping we could get some advice on what else we could do to save more money and get ahead a little quicker.

We make approximately $1600/month after taxes. Our expenses per month are as follows:
Rent: $440
Electricity: $75
Cable/Internet: $80
Car Insurance: $45 (was $67 but we sold 1 of our cars)
Groceries: $200 ($50 per week)
Gasoline: $100 ($25 per week)
Phone: $30
Laundry: $30 (no washer/dryer at our apartment - we use laundry mat)
Car Maintenance: $25
Credit Card: $75
Cat Food: $6

After all of our expenses, we are putting in about $400 in our savings account each month.

For more background:
At home it's just me, DH, and our kitty Flakes. We don't have children and don't plan on having them anytime soon. Probably TMI but we have about 75 condoms from a deal at Target back in October so we won't need those anytime soon. We have shampoo, soap, feminine products, and cleaning supplies pretty well stocked but we have to buy toilet paper and trashbags every month.

Are there any things we should do to cut back on expenses even more? I am ready to get $1000 in our savings account so we can move on to paying off our credit card. We have about $3900 in debt right now.
 
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#2 ·
I also wanted to add that I'm doing some online stuff like surveys and get paid to websites to generate some extra income. It hasn't really taken off yet but I'm hoping that it will soon. I also occasionally work for ChaCha but that doesn't pay very well.

We are moving to a new apartment at the end of July and I'll be able to walk to several grocery stores and other places so I might get a part time job then.
 
#3 ·
pocket money?
i think your groceries are low?
 
#4 ·
Pocket money for what? When we started our budget, we figured any extraneous spending would be nixed. No going out to movies or to eat, no buying things we don't need, etc.

We have been buying groceries at $50/week for 2 weeks now and it really hasn't been that hard. It helps that my husband is okay with taking bologna sandwiches to work and I eat sandwiches for lunch while he's at work. Also,we live in Southern Indiana where the cost of living is lower than other areas. For reference, milk is $2/gallon at most grocery stores; $1.49/gallon at Aldi.
 
#5 ·
Can you hand wash your clothes and hang on hangers in the bathroom or rack in the bedroom to dry? If the two of you do laundry together, hand washing isn't so bad. . . use a new toliet plunger to agitate the clothes in the bath tub. . . then rinse, and each of you grab an end of clothing and twist the excess water out.

Can you advertise for some occasional baby sitting now? Like a weekend evening or an occasional day time?

There are lots of points programs out there that will generate a few $$. quick rewards seems to be my best and fastest paying one right now. . . clixsense. . . mypoints. . . swagbucks. . . .
 
#7 ·
Can you hand wash your clothes and hang on hangers in the bathroom or rack in the bedroom to dry? If the two of you do laundry together, hand washing isn't so bad. . . use a new toliet plunger to agitate the clothes in the bath tub. . . then rinse, and each of you grab an end of clothing and twist the excess water out.
I'm not sure if I'll be able to talk DH into hand washing unless I volunteer to do it myself but I think I can probably do it.

Can you advertise for some occasional baby sitting now? Like a weekend evening or an occasional day time?
I'm really not much of a kid person. I might try advertising dog walking/sitting though.

There are lots of points programs out there that will generate a few $$. quick rewards seems to be my best and fastest paying one right now. . . clixsense. . . mypoints. . . swagbucks. . . .
I have a lot of survey sites that I do but the point sites never really pay off, in my opinion, unless you hoard referrals. My friends and family just aren't interested in those sites so I tend to just do things where I can earn even if I don't refer anyone.

Thanks for the suggestions!
 
#6 ·
$50 a week for 2 is reasonable for the midwest area. With careful shopping of the sales and markdowns you can eat pretty well on that amount.

Unless the savings is for something else I would put most of that $400 a month into the credit cards right now. You could get rid of that debt in less than a year. You're *paying* interest on the card and getting nothing on the savings.

Are you running the AC yet? You might try holding off until temps get really high, esp if it is just you at home during the day. You could squeeze a little bit on the electric bill. Keep stuff turned off or unplugged.

Laundromats... I remember that hassle. Are you allowed to line dry at your apt? Maybe just heavy stuff like towels and jeans, they take forever to dry and always used to cost me more than one cycle.

Does your phone service include long distance? Do you use it? We canceled ours and I use a dial-around service (10-10-220) when I need to, costs about $1 for a short call.
 
#8 ·
$50 a week for 2 is reasonable for the midwest area. With careful shopping of the sales and markdowns you can eat pretty well on that amount.

Unless the savings is for something else I would put most of that $400 a month into the credit cards right now. You could get rid of that debt in less than a year. You're *paying* interest on the card and getting nothing on the savings.
The $1000 savings is an emergency fund so we don't have to use the credit card if an emergency pops up. We've had bad luck with cars so we definitely need it. We are almost maxed out on our credit card so an emergency would probably drive us to take out a payday loan if we didn't have that $1000 in savings.

Are you running the AC yet? You might try holding off until temps get really high, esp if it is just you at home during the day. You could squeeze a little bit on the electric bill. Keep stuff turned off or unplugged.
Yes, we are running the AC. It's 80-90 degrees here. I do turn it off from 6am to around 10am because it's too darn cold in the morning. We have a crappy air conditioner at our apartment (it's a wall unit like in hotels) and it just doesn't do well in this heat - it's either on or off. Once I turn it on, it won't kick on and off like a normal air conditioner. I have to manually turn it off when it cools down in the apartment. We tried getting the maintenance person at our apartment to get us a new air conditioner, but he said that was "normal". I just checked our electricity bill online (about 5 minutes ago) and it was $95!!!!!! It is normally only $75. I am SO ready to get out of this apartment.

Laundromats... I remember that hassle. Are you allowed to line dry at your apt? Maybe just heavy stuff like towels and jeans, they take forever to dry and always used to cost me more than one cycle.
At our current apartment, there would be nowhere to line dry. The shared balcony makes that impossible. At our new apartment we will be able to line dry because we'll have our own balcony.

Does your phone service include long distance? Do you use it? We canceled ours and I use a dial-around service (10-10-220) when I need to, costs about $1 for a short call.
We have cell phones and they do include long distance. My husband uses a pre-paid phone - that's where the $30/month goes. I am still on a plan with my mother because she started a family plan last year before DH and I got married and she just let me keep the phone until the contract is up.
 
#9 ·
If there's any advice I could give, it would be,
"Make the most of your time, because well-spent time creates value."
For example, if I spend 1-2 hours on the internet every day, I get networking interaction, some freebies, coupons, connections, ideas and support. That's the plus side.

The other side of it is that in 1-2 hours, I could be baking bread for a week--saving about 2/3 of what it costs to buy it. Or I could bake 2 or 3 desserts, make a big stockpot of soup, make homemade pasta or several casseroles, homemade juice, jam/jelly, mend stockings and sew on buttons, sew linens, repair towels with a new edge, start seeds or plant seedlings, balance my budget or chequebook, make homemade craft gifts, do little home repairs and improvements, clean & freshen my home and decorate it with grasses or flowers from outdoors, give myself a home-spa which is very refreshing and boosts my spirits, etc.
And any of these things is actually going to save money for me, and all of it adds up over time to big savings.

TIME IS MONEY.

Personally, I need to be doing more of this again too.
Lately, I've been over-involved in internet interaction and spending my time and energy on various "money-saving" websites. For a time, that's what I needed to do to meet a personal need; but there comes a time when it's wise to take stock of things, and the value that is created or lost from involvement with them.
My personal tangible resources are: time, ability, energy, money & posessions.
Where/when/how can I make the most of them? And being only human, the process of discernment comes through trial and error sometimes. But my goal is wisdom...and action...and beneficial results. :sun:
 
#10 ·
I think you are doing great on the expense side and I agree with you putting the 1K into EF but in my opinion, your best bet would be to increase your income.

That would mean getting a job ~ waiting tables, or finding some type of work . So once you move, if you get a job you will be able to get the CC's paid off much faster.

Everyone else has given you great advice too especially TIME IS MONEY. Use your time to cook, coupon and earn money to pay off your debts !

good luck
 
#14 ·
I agree with time is money. I would invest in some dryer racks and hang your clothes indoors-that way they would pay for themselves in a month or two and the rest would be profit. Have you thought about cutting the cable? Also making sure not to waste food as that is money. People have given you a lot of great ideas. Handing out food samples might be a good part time job.
 
#15 ·
After subtracting everything from your income, I see $494 available. What is the $75 for Credit Card? Is that a different credit card from the $3900 debt you have now?

Invest in a fan, small or big, that you can use to help circulate the air in the morning. That way you can keep the AC off for that much longer. Actually, it would be better if you are not in the house at all during the day. Unless you are doing things to cut your expenses and you are doing that in your house, you can do other things to curb your expenses:
Go to the library and read there, or watch shows or use the internet. Which means: Get RID of the CABLE - there is no need for it.

Sell whatever you do not need anymore. I actually had a small business when we were getting rid of stuff, I would go to garage sales and pick up DVDs, CDs and books at really cheap prices, (I'm talking bags of books for a $1, CDs and DVDs for $1 a piece etc.) and sell them on Amazon. I had a postal weight machine, shipping tape dispenser, lots of stamps, and the time to do it.

Your grocery is actually pretty low, which is great. If you can go lower, go for it, but make sure you can still eat healthy.

Car Maintenance: Is that for oil changes every month or something else and do you have to do that?

Like others have stated, you should get a job, even flipping burgers brings in something. Don't waste your time on these internet surveys and that kind of garbage, they will send you tons of spam to your email and it takes forever to be paid. And usually it is not in cash but in "gift cards" where you have to spend more to get the money. The only way to make money in gift cards is if you sell them on eBay. We did that as well. Sold a ton of stuff on ebay, craigslist, and Amazon.

But it would be better if you had a regular job. Work as many hours as DH does or work two jobs. Get rid of that debt. You'll be glad you did.

Good Luck, Work Hard and Clear out that Debt,
 
#17 · (Edited)
After subtracting everything from your income, I see $494 available. What is the $75 for Credit Card? Is that a different credit card from the $3900 debt you have now?
$75 for credit card is what we're putting towards the credit card until we get $1000 in our savings account.

Invest in a fan, small or big, that you can use to help circulate the air in the morning. That way you can keep the AC off for that much longer. Actually, it would be better if you are not in the house at all during the day. Unless you are doing things to cut your expenses and you are doing that in your house, you can do other things to curb your expenses:
Go to the library and read there, or watch shows or use the internet. Which means: Get RID of the CABLE - there is no need for it.
I actually need to keep the internet because DH and I both take college classes online. Due to my husband's schedule, he cannot take regular classes so he's taking them at home. We actually get a discount on the internet if we keep the cable so that's why we have that.

Sell whatever you do not need anymore. I actually had a small business when we were getting rid of stuff, I would go to garage sales and pick up DVDs, CDs and books at really cheap prices, (I'm talking bags of books for a $1, CDs and DVDs for $1 a piece etc.) and sell them on Amazon. I had a postal weight machine, shipping tape dispenser, lots of stamps, and the time to do it.
We've already sold quite a bit. Since we have no entertainment built into our budget, we're keeping some DVDs and games. We don't want to be tempted to go out and watch a movie if we have movies at home. Most of the movies we own were gifts anyway.

Your grocery is actually pretty low, which is great. If you can go lower, go for it, but make sure you can still eat healthy.

Car Maintenance: Is that for oil changes every month or something else and do you have to do that?
We put $25 towards car maintenance because our car leaks oil and transmission fluid. Whatever we don't spend on fluids, we put in a separate savings account in case we need a car part or repair.

Like others have stated, you should get a job, even flipping burgers brings in something. Don't waste your time on these internet surveys and that kind of garbage, they will send you tons of spam to your email and it takes forever to be paid. And usually it is not in cash but in "gift cards" where you have to spend more to get the money. The only way to make money in gift cards is if you sell them on eBay. We did that as well. Sold a ton of stuff on ebay, craigslist, and Amazon.

But it would be better if you had a regular job. Work as many hours as DH does or work two jobs. Get rid of that debt. You'll be glad you did.

Good Luck, Work Hard and Clear out that Debt,
Once we move, I'll get a job. Until then, I'm just doing the online stuff. A little money is better than nothing, right? If we lived closer to stores and stuff, I would go ahead and get a job but with my husband's schedule there's no way.
 
#16 · (Edited)
I think you are doing great!!! What would make all the difference in the world is to get the income up....

1. I consider $50 adequate for groceries, especially if you purchase wisely, avoid junk food, and are careful of portion amounts. This is the amount I've had for many years and considered reducing it to $40/week at the first of the year. I've built at least 6-months of pantry foods, and as much as much as 1-3-years of the "Seven Survival Food" in storage on $50/week. I just added 100# of wheat last week, and will be getting a years supply of whey-based milk powder this week, and will still have over $100 surplus in my grocery budget - to date.

2. To reduce phone expense, at least until you get rid of your debt or get the income up, you might consider purchasing a $99/year TracFone (plus the cost of the phone), and then be VERY conservative with it's use. It's not enough minutes for idle chat....

3. Laundry - wash your clothes at the laundramat. Flat fold them WET, and bring the wet clothes home to dry. We did that for years. I used to borrow the neighbors clothes line for the task and also used a couple clothes racks in the house (these are still available at Wal-Mart and are relatively inexpensive), and hung clothes on hangers on the shower rod to dry. And that was back in the days when we had a baby and used cloth diapers..... I've also washed clothes in a 5-gallon plastic pail (set the pail in the tub/shower) using a toilet plunger as the agitator. Perhaps you could do this with your lightweight clothes and take heavy/large items to the laundramat. My best suggestion for doing laundry at home is to purchase a mop wringer bucket (cost about $40-$60 at Sam's Club and I've also seen them at Wal-Mart). You can press the excess water out of clothes using the mop winger, catch the water in the bucket and reuse the water for washing. Wringing clothes out by hand is the PITS, especially since I've had arthritis in my fingers since I was 14-years old.

4. Call your cable company and see if they have any better prices. It might mean you don't get high-speed and only basic cable, but if you bug them, they will often give you a cut-rate that is applied to new accounts, or reduced for a few months. Every cost savings helps.
 
#18 ·
A short term job would help you get rid of the CC debt fast and get that EF up to par. You can put up w/ many crappy jobs if you know they are temporary and will give you peace of mind. Your income could use a boost so you don't spend on the CC. in the first place adding all the interest spend on CC back into your income.
 
#19 ·
I'm sorry, but how much interest are you making with the "savings" account? Is it more than the interest for the credit card debt? Put more money into the credit card debt. $75 is not enough, heck, it probably does not cover the interest.

You can get rid of cable and go to a Verizon wifi card. It costs $60 for 5 GB. Sell the TV.

If you really wanted to save money you should not be spending time watching TV or Movies of any sort. You should be doing whatever you need to to get rid of the debt.

We've already sold quite a bit. Since we have no entertainment built into our budget, we're keeping some DVDs and games. We don't want to be tempted to go out and watch a movie if we have movies at home. Most of the movies we own were gifts anyway.
Again sorry to burst the bubble, but why are you spending time watching movies? If you are doing college degrees, that is the time to be doing that.

You should be coming home from a job, do your homework and classes and go to bed. Repeat until the debt is paid off, and repeat until you have your savings.

If DH is working 12 hours a day, why are you not working? If he has to go over an hour to get to work, why are you not going with him, finding a job where he is, and working the same hours? Internet jobs bring in NOTHING compared to a real job, whether that real job is cleaning homes, flipping burgers, or taking care of kids.

You are in DEBT, the best way to get out of it is to get a job, any job!
 
#30 ·
Again sorry to burst the bubble, but why are you spending time watching movies? If you are doing college degrees, that is the time to be doing that.

You should be coming home from a job, do your homework and classes and go to bed. Repeat until the debt is paid off, and repeat until you have your savings.

If DH is working 12 hours a day, why are you not working? If he has to go over an hour to get to work, why are you not going with him, finding a job where he is, and working the same hours? Internet jobs bring in NOTHING compared to a real job, whether that real job is cleaning homes, flipping burgers, or taking care of kids.

You are in DEBT, the best way to get out of it is to get a job, any job!
Watching movies is how we deal with stress. My husband works a high-stress job that he could lose at any time. We NEED the emergency money. We also have ONE car that has transmission problems in addition to other problems. It's 17 years old but it's the only thing we can afford. That $1000 would go to repair or replace the stupid thing if it broke down on us because my husband cannot miss a single day of work. If the car breaks down before work, he has to call a cab to get there. Like I said, his job is high stress and movies/tv are how he relaxes.

I cannot get a job yet because we live 3 miles from the closest place I could work at. He takes the car to work and I stay at home. When we move in less than 2 months, I will be able to walk to 10-15 places giving me a good range of places to work at.

I would be putting some of the extra money on cc to get it paid off; then you will be able to put more in savings. When tp goes on sale stock up. Start using grocery bags for some of your trash bags and then buy the rest on sale. Have you seen how to save on electric in here? Unplug anything that you are not using because it is using electricity just being plugged in. Where we live if you get car insurance through your credit union (preferrably a large cu) with AAA you can save considerable amount of money. Or even check around with different companies. Do you have room to stock up on food that you use often. Buy everything on sale. Make up a book with sale prices so you will know what is a good price to buy things.
We do unplug everything not in use except the refrigerator and alarm clocks. Car insurance is the cheapest we can get it. I don't know if I've mentioned this but I'm 21 and he's 20, so our car insurance is about as low as it's gonna get until we get a little older. We don't have much room to stock up more than we have already but I do what I can. I use coupons as much as possible as well.

I agree with the original poster -- without a savings account of at least $1000 you fall prey to "Murphy's Law" and end up putting even more $$$ on the credit card. She's following Dave Ramsey's recommendation for baby step #1.

AND in my opinion - every one needs some down time. . some time to do things "just because". Movies, surfing online, reading books, crafts -- whatever brings some joy into one's life. Otherwise burnout and failure soon ensue.
Thank you. At least one person here understands where I'm coming from. :)

The down time is her online classes. A person does not need down-time if they are in debt. Once they are out of debt, they have have all the down-time they need then.

I'm sorry but Ramsey bites the big one. Although she did not say what the interest rate was on the cc debt, we would have to assume it to be high, say 25%. Supposing that MAYBE you MIGHT have a problem with a car does not mean you need to have $1000 savings!

If you need to have savings, do one month of $400 of savings and one month of putting the $169 ($75 + $94 unaccounted extra money) towards the credit card. Then switch, putting $400 towards the credit card and $169 towards the savings.

If worse comes to worse, stop going to college, get a job and pay off your debt. THen you can have fun.
Have you ever been to college? It is NOT fun. I occasionally have "fun" assignments but overall it's not fun - it's stressful.

I think your doing a great job already - your saving an emergency fund, your saving money for car breakdowns, once you move you'll be employed. I think everyone needs down time & agree keep your movies etc. In the meantime maybe you can babysit, do housework, care for an elderly or help them with their errands/chores, deliver newspapers - just something til you move while your hubby is at work. I think your doing fine - $400 towards debt is a lot more than most people have!

ETA - you may want to read the tightwad gazette - its really good and packed full of info and ideas for saving money!
Thanks!

I agree, you are doing a good job! One thousand dollars in an emergency fund is not unreasonable at all. All it takes is the car to break down, or any other unplanned expense and that money is there to back you up and keep you from going into further debt. I am the first one to encourage getting out of debt, but building an emergency fund first is MORE important. Then pay down the debt as quickly as possible. Also, waiting until you move to get a job does not sound unreasonable to me either. It sounds like you are moving soon and will be able find something close to your new home. There are lots of things you can do in the meantime to cut costs. Keep reading here and you'll find tons of tips! Good luck and keep us posted!
Thank you too. :)

I would normally say I would have paid the credit card first and if an emergency came up I would have charged it. At least you would save a ton of interest in the meantime, but with cards lowering their limits, I do not think it is a good idea anymore. I would agree the emergency fund comes first unless you have additional open credit that is not going to be lowered in case you have a car repair, etc.
I thought the same thing before I realized that if we had an emergency, we'd be up the creek without a paddle.

Just a couple of things that popped out at me.......

Groceries seem high for just 2 people. Are you buying a lot of prepared food? Junk food? etc?

What is the interest on your CC? Bet you are paying more than you are earning on your savings. I would consider ....for now...putting a little less in savings and get that thing paid off. This depends on other things though.......how is the car running? any chance you will have repair bills on it, etc.
I shoot for less than $2/meal per person not including breakfast. We eat pancakes, waffles or oatmeal for breakfast. My husband takes bologna sandwiches for lunch and I eat sandwiches for lunch while he's at work. I *might* be able to squeeze the food costs a little more but I am still going to budget $50/week because some weeks will be higher and some will be lower - it just depends on sales.

Are you saving for the move? And is that to another rental property? Do you have the money for a down payment (if one is required?), and money for the movers/u-haul/moving equipment? You may need to buy some paint or do some minor repairs to the old apartment, just as you do for the new apartment. How much do you think that will cost? Can you find these items on sale/for free? I'd suggest you make an estimate of what you need and how much that will cost, and with a timeline (moving date) work out how much you need to save for that every month. (Maybe the unaccounted-for $ 94 can go there?)
We sold our car to pay for the deposit at the new place. It's $300 and we sold the car for $400. We have about $100 for cleaning and such. My husband's dad is going to let us borrow his truck to move. We only have to paint a few sections of this apartment so we should be able to get by with just a quart of paint - which is around $5 at Menards. Everything else cleaning related we already have.

One great thing about us moving is that we'll get our deposit back from our current apartment which is an extra $300 that can go directly to the credit card.

I also forgot to mention that both my husband and myself get extra financial aid each semester. I usually get about $1500 and he gets about $500. We will get the money in October and in March - that money goes directly towards paying off the debt. If my calculations are correct, we should have $1000 in the savings account and have the debt paid off by December. That's assuming I don't get a job. It should be paid off by September or October if I get a job.
 
#20 ·
I would be putting some of the extra money on cc to get it paid off; then you will be able to put more in savings. When tp goes on sale stock up. Start using grocery bags for some of your trash bags and then buy the rest on sale. Have you seen how to save on electric in here? Unplug anything that you are not using because it is using electricity just being plugged in. Where we live if you get car insurance through your credit union (preferrably a large cu) with AAA you can save considerable amount of money. Or even check around with different companies. Do you have room to stock up on food that you use often. Buy everything on sale. Make up a book with sale prices so you will know what is a good price to buy things.
 
#21 ·
I agree with the original poster -- without a savings account of at least $1000 you fall prey to "Murphy's Law" and end up putting even more $$$ on the credit card. She's following Dave Ramsey's recommendation for baby step #1.

AND in my opinion - every one needs some down time. . some time to do things "just because". Movies, surfing online, reading books, crafts -- whatever brings some joy into one's life. Otherwise burnout and failure soon ensue.
 
#22 ·
The down time is her online classes. A person does not need down-time if they are in debt. Once they are out of debt, they have have all the down-time they need then.

I'm sorry but Ramsey bites the big one. Although she did not say what the interest rate was on the cc debt, we would have to assume it to be high, say 25%. Supposing that MAYBE you MIGHT have a problem with a car does not mean you need to have $1000 savings!

If you need to have savings, do one month of $400 of savings and one month of putting the $169 ($75 + $94 unaccounted extra money) towards the credit card. Then switch, putting $400 towards the credit card and $169 towards the savings.

If worse comes to worse, stop going to college, get a job and pay off your debt. THen you can have fun.
 
#23 · (Edited)
I think your doing a great job already - your saving an emergency fund, your saving money for car breakdowns, once you move you'll be employed. I think everyone needs down time & agree keep your movies etc. In the meantime maybe you can babysit, do housework, care for an elderly or help them with their errands/chores, deliver newspapers - just something til you move while your hubby is at work. I think your doing fine - $400 towards debt is a lot more than most people have!

ETA - you may want to read the tightwad gazette - its really good and packed full of info and ideas for saving money!
 
#25 ·
I agree, you are doing a good job! One thousand dollars in an emergency fund is not unreasonable at all. All it takes is the car to break down, or any other unplanned expense and that money is there to back you up and keep you from going into further debt. I am the first one to encourage getting out of debt, but building an emergency fund first is MORE important. Then pay down the debt as quickly as possible. Also, waiting until you move to get a job does not sound unreasonable to me either. It sounds like you are moving soon and will be able find something close to your new home. There are lots of things you can do in the meantime to cut costs. Keep reading here and you'll find tons of tips! Good luck and keep us posted!
 
#26 ·
I would normally say I would have paid the credit card first and if an emergency came up I would have charged it. At least you would save a ton of interest in the meantime, but with cards lowering their limits, I do not think it is a good idea anymore. I would agree the emergency fund comes first unless you have additional open credit that is not going to be lowered in case you have a car repair, etc.
 
#27 ·
Just a couple of things that popped out at me.......

Groceries seem high for just 2 people. Are you buying a lot of prepared food? Junk food? etc?

What is the interest on your CC? Bet you are paying more than you are earning on your savings. I would consider ....for now...putting a little less in savings and get that thing paid off. This depends on other things though.......how is the car running? any chance you will have repair bills on it, etc.
 
#28 ·
Are you saving for the move? And is that to another rental property? Do you have the money for a down payment (if one is required?), and money for the movers/u-haul/moving equipment? You may need to buy some paint or do some minor repairs to the old apartment, just as you do for the new apartment. How much do you think that will cost? Can you find these items on sale/for free? I'd suggest you make an estimate of what you need and how much that will cost, and with a timeline (moving date) work out how much you need to save for that every month. (Maybe the unaccounted-for $ 94 can go there?)
 
#31 ·
Hey! I have read the entire thread and wanted to post my thoughts on some of this as well....

Mostly I want to say that I think you two are doing AMAZING! My husband and I are also young - 24 - and we just married this past March. I work, because he is not legally allowed to (he is an immigrant) and we make only about $1600 a month - slightly less than that now as my hours at work got cut recently. We too rent an apartment, live with a cat, and are planning to move w/in two months (except that we have no apartment lined up yet to move to).

Trust me - you two are doing a thousand times better than we are right now (we are working on it) and if you two keep at it and stick to your budget and plan - you will do just fine in life. :)

One thing I wanted to ask - the financial aid extra you guys get - is that a grant or a loan? If it's a loan, I would suggest paying it back to the loan immediately (or lowering the amount you get) because it really sucks when you have to start paying back those loans (trust me - about 25,000 of my total debt of about 36,000 is from student loans alone). If it is a grant though (free money! woo hoo!) I think paying debt off with it is a great idea.

keep up the good work - I really do think you guys are doing great already!
 
#32 ·
It's grant money. I got a new scholarship when I graduated from the state of Indiana and it pays for most of my schooling but I get excess from a Pell Grant. My husband is a part time student and he gets back excess from a Pell Grant. It's nice to have that extra money.
 
#34 ·
Excuses never do work, you know. The "I'm stressed", the "I have to relax", the "closest place is 3 miles away and it is all uphill - both ways!" the "He takes a car so I can't work!" excuses, excuses. There are ALWAYS ways in which to work. You are spending more time on the computer than actually looking for a job in which to work.

I went to college and it was fun, but I like learning. I also went to grad school and had grad school debt. No grants or other money coming in, just 20K in debt. I paid it off in 2 years. I WORKED a lot, and spent very little money. I went into marriage without owing anyone anything. We are debt free and have been our entire married lives.

It can happen with frugality and prudence to what you buy and how you spend your time.

You had asked for suggestions/advice at the beginning of the post - I gave you my suggestions. I did not pat you on the back for doing a great job, because you are in debt, and therefore, not doing a great job. You are doing just ok, you are surviving.

It would be interesting in July, when you have moved to hear if you have gotten that job and who knows, be able to pay down the debt even faster. Good Luck to you,
 
#40 ·
I'm sorry I'm not as perfect as you.

I'm not sure I understand. You asked for advice and I gave you advice I've seen in here and things I've been doing for years to save money and the you put thanks at least one person understands under another post. When I told you about car insurance I had no way of knowing how young you were. I was not in any way being critical; I was giving you some suggestions; sorry if you took it the wrong way.
I didn't mean to be rude. I put my answers to your questions. The only reason I just said thanks to the other people I thanked was because I didn't have any specific replies to their posts. Thank you for asking if I had thought of getting those discounts. Again, I'm sorry for coming off so rude. Friends?

Once you have identified some strategies to try, keep in mind that some may work better for you than others and it's okay to adjust your plan when/as needed. For me the biggest danger has always been my tendency to expect myself to be perfect (and believe me, I am far from it!) Invariably what happened was when something didn't work perfectly as planned, I gave up. What I've since learned is the value of continual improvement. If I can continually improve in ways that take me toward my goals, even if it's just a little improvement at a time, I will eventually reach those goals.

Another thing I would suggest is that goals and values differ from person to person.....what one person may find wasteful may be important to another, and that's fine. It just means you may have to cut back in another area that's not as important to you.

Good luck in your journey!
Thank you - I am trying to be strict on our budget but my husband just won't budge on some things. I am trying to keep at it without needling at him too much. Sometimes I feel like I am a total failure but nice people like you and most of the others on this site make me realize I'm just human. :)

I think you are doing a fine job, asking questions and taking control of your finances at an early start.

I Understand your husbands stressful job, my husband has one too its called trying to find a steady job that will pay him so that leaves me to support our family of 4 with 2 cats, (I could list all our expenses but I'm afraid one of "The helpful" posters will rip me and my husband apart for not working hard enough.

We have debt but we also have down time as well, we play with our kids, cats, go to the beach and watch movies or read books.

Here are a few of the prices I pay for food and such:

Milk $7.99 a gal (reconstituted milk)
Bread $3.09
Apples .99lb
Tomatoes $1.99lb
Butter $4.19lb
Pancake mix $2.99
Bottled Water $6.00 for 6gal (we do not have potable water here)
Gas $2.98 this morning

Rent $1600 for 3 bedroom

Good point is the water to bathe in is free!!
I feel your pain!!

Keep up the good work!!
Thanks for your reply. If you want to talk about your expenses without people freaking out, feel free to PM me. :)

When you asked for advice, you opened yourself up to quite a lot of it, didn't you? And of course, human nature being what it is, some people will not only advise you, they will judge you--fairly or unfairly. So, decide what's useful or important to you; and all the best with your life.:thumb:

I like watching select VCR/DVD movies too, and I think it's a very inexpensive way to spend time together as a couple. It's one of my own recreational activities to refresh me while juggling chores & errands, work responsibilities, serious health problems & life's troubles. Another thing is to take community walks together; it gives a person ideas and knowledge about how to build their own life and home when you see others actively doing that in their own homes and yards. Just be careful that you don't try too hard to keep up with the Jones's.:shrug2:

Another thing that might actually give you some practical counsel would be to read the "Frugal Tips" sections of this website for additional ways to cut costs in everyday living. A few cents, a few dollars, it all adds up to spending less money.:fyi:

Buy hey, you're an adult now--like the rest of us. We are all involved in the practical processes of living--spending less money or earning more money, among other things.
:coffee3:
Thanks! Maybe next time, I will start my post with if you think TV is a waste of time please don't reply. :D

I think it's a good idea to save the $1000 EF. One thing is for sure - emergencies DO happen.
Could you turn the ac off at bedtime, that way it won't be cold in the morning and you'll get more than 4 hours of down time with it. Would it stay comfortable enough to sleep?
Have you tried the HM laundry detergent? There are several recipes on this site...if you're interested, I'm sure someone has one to share. When I was making ours, it was the one thing I did that definatly saved us money. Even though you use the laundry mat - you'd only have to bring a little in a baggie or jar/bottle (depending on your power/liquid pref.) WIth just the 2 of you - it would be a LONG time before you had to purchase more :)
How are you with typing? Could you offer to type up papers for the students at school, resumes and such? Still, not steady income - but you could use it for your EF fund even if it wasn't a reliable enough source to add to your regular budget.

You're wiser than I was at your age - good luck!
I'm not sure how that would work but we could try it. We live upstairs in our apartment so the heat rises and it gets hotter than it really should. I am doing everything I can to keep the heat out. We have blankets over the windows and rolled up towels under the front door. I have the ceiling fan running and I'm turning the AC off for an hour at a time at least 3 times a day. We talked to my husband's grandfather today and he said that if the AC gets worse, he'll come by and fix the dang thing himself because he hates to see us pay so much for that thing.

I have a large supply of laundry detergent that we got when we got married and that I stockpiled when Arm & Hammer detergent was free after coupon. The $30/month laundry expense is purely laundry mat costs.
 
#35 ·
I'm not sure I understand. You asked for advice and I gave you advice I've seen in here and things I've been doing for years to save money and the you put thanks at least one person understands under another post. When I told you about car insurance I had no way of knowing how young you were. I was not in any way being critical; I was giving you some suggestions; sorry if you took it the wrong way.
 
#36 ·
My husband and I are starting our journey to financial peace. :) I was hoping we could get some advice on what else we could do to save more money and get ahead a little quicker.
Once you have identified some strategies to try, keep in mind that some may work better for you than others and it's okay to adjust your plan when/as needed. For me the biggest danger has always been my tendency to expect myself to be perfect (and believe me, I am far from it!) Invariably what happened was when something didn't work perfectly as planned, I gave up. What I've since learned is the value of continual improvement. If I can continually improve in ways that take me toward my goals, even if it's just a little improvement at a time, I will eventually reach those goals.

Another thing I would suggest is that goals and values differ from person to person.....what one person may find wasteful may be important to another, and that's fine. It just means you may have to cut back in another area that's not as important to you.

Good luck in your journey!
 
#63 ·
This is part of the reason some people's posts are so harsh; Everyone does have different values and goals. I stayed home to raise my children instead of working and paying debt off faster; but I lived very frugally before people thought it was a good idea to do. My sons are grown and I have no house payment or car payment. My choice and I'm so glad I did it that way. I got to raise my sons. And just for the record I paid my own health insurance most of this time too!
 
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