Well it has been an overwhelming feeling reading the responses from my first blog post. It has een tough letting people know I was not able to pay for child support, but this is one area I will be working on.
So here is a quick overview of my finances and the bills I have to pay for every month.
Bills:
Housing: None Living in a Foreclosure
Phone/Internet:$86.00
Gas:$60 give or take
Children Expenses around $100
Food: $$425.00
Car Payment: ($250 month)17% interest
Car Insurance (130 month)
Heating (400 ever other month during winter)
Netflix (7.99 month)
Aarons Rentals (79.00) Laptop for School
Rent a Center (120.00) TV over 3/4 paid for
Storage ($45.00 month)
The amount of spending each month is paid from the following money:
Income from me: $717.00
GF $1400.00
Other Income $500.00
Sometimes Income from Child Support From GF Kids $475.00 but have not been getting it.
Spending $1535.00 each month
Income:$2600-$3000.00
We tend to not have any money every week, spending it stupidly, like restaurants, clothes, and other items that do not need to be spent on.
as for work, I was in a bad car crash causing blackout consistently, so I am working to get back into the working world asap as a trucker or an accountant.
More Information About My Financial Life
November 13th, 2012 at 11:10 pm
November 13th, 2012 at 11:30 pm 1352849442
This seems like a good start but there are a couple of missing items, just based on the expenses people typically have:
Rent or mortgage
Phone, internet and/or cable
Also, there are things that aren't fixed but you should look at your statements for the past couple months and try to get a handle on how much you need for each:
Groceries & household supplies
Kids' expenses
Gas
And just a side note, try to get rid of the storage! Purge, purge purge. It can be a real drain, like paying interest on stuff you already bought and aren't even using.
Good luck! I look forward to hearing more from you.
November 13th, 2012 at 11:47 pm 1352850440
November 14th, 2012 at 01:03 am 1352855026
I'm really not sure what to say as to living in a foreclosed house. Personally, it would feel really icky to me and scary not having any idea how long the situation would last in this manner. But that's just me.
November 14th, 2012 at 01:16 am 1352855785
I am so close to paying off the tv, a much needed expense since I can watch netflix from it.
As for the laptop I am looking for a better price on one.
Our house has been on the verge of foreclosure, but we are hoping the bank walked away from the house due to the condition.
November 14th, 2012 at 12:21 pm 1352895713
November 14th, 2012 at 10:14 pm 1352931259
With such an uncertain living situation, you really need some money set aside. What if you have to vacate with only a few days notice? You will need money to move and rent a new place. I suggest you open a savings account and start putting as much away as you can (after paying child support, of course).
Are you tracking your spending, or are you estimating? Most people who begin to track their actual spending are surprised by what they find. (I certainly was.) I ask because you used the word "probably".
November 14th, 2012 at 10:51 pm 1352933482
November 18th, 2012 at 10:54 pm 1353279240
November 19th, 2012 at 04:32 pm 1353342724
How do you handle your banking? Do you have a checking account? A savings account?
If I have "extra" funds in my checking account (more than I need to cover bills and budgeted expenses), I get rid of it. I send it off to savings or debt reduction. That way, I cannot spend it on things I don't really need and have not budgeted for. It really works for me. When I get away from doing that, I spend too much.
I suggest you try sending your extra cash to savings, so that it is not readily available to be spent.