Please help!!!!

[Gudziel]

Kill the cable bill.

Watch TV online (internet) via your computer or a Hulu media box (~$80).

How are you receiving internet access to watch on the net if you have no other connections to your house that you are paying for? I'll look into Hulu, but like I said, I just signed a 2-yr contract with Verizon Fios and it is about $100/month.

 

I've gone and moved away from my Excel Spreadsheet for budgeting and gone back into Quicken Delux to watch my spending on all of my credit/bank accounts. I hope that this will help me with my budgeting. Going through the debt reduction planner within Quicken, it states that I will have my CC debt paid off by July/August. Beginning this Friday I am paying off cards, 2 - 3 at a time which I've budgeted into my plan already.

 

I appreciate your input and help. I'll keep this updated and let everyone know if I am able to maintain my plan and have my debts paid off to begin saving.

[xelda]

Kill the cable bill.

Watch TV online (internet) via your computer or a Hulu media box (~$80).

How are you receiving internet access to watch on the net if you have no other connections to your house that you are paying for? I'll look into Hulu, but like I said, I just signed a 2-yr contract with Verizon Fios and it is about $100/month.

 

I pay $35/month for unlimited 4G wireless with Clear. Any time I want to watch a movie or TV show, I just stream it online.

[hegemony]

Kill the cable bill.

Watch TV online (internet) via your computer or a Hulu media box (~$80).

How are you receiving internet access to watch on the net if you have no other connections to your house that you are paying for? I'll look into Hulu, but like I said, I just signed a 2-yr contract with Verizon Fios and it is about $100/month.

 

I've gone and moved away from my Excel Spreadsheet for budgeting and gone back into Quicken Delux to watch my spending on all of my credit/bank accounts. I hope that this will help me with my budgeting. Going through the debt reduction planner within Quicken, it states that I will have my CC debt paid off by July/August. Beginning this Friday I am paying off cards, 2 - 3 at a time which I've budgeted into my plan already.

 

I appreciate your input and help. I'll keep this updated and let everyone know if I am able to maintain my plan and have my debts paid off to begin saving.

 

have you played chicken with your cable company? a lot of people get a reduced price when they call and threaten to switch

[gabbyraja]

So, OP, it's July. Got those bills paid off yet?

[Gwennie]

Anyone who has a budget with only 8 line items has no idea what they're spending money on.

 

 

You NEVER do any of the following:

Go to the doctor or take a medication?

Pay for renter's insurance?

Purchase any clothes or shoes?

Eat at a restaurant?

Order a pizza?

Do laundry?

Have a car repair?

Buy Christmas presents?

Take a road trip or any type of vacation at all?

Go to a concert or a show?

Buy a book, movie, or any music?

 

Money isn't evaporating into the atmosphere every month. It's going somewhere. Until you write down every single purchase on a piece of paper, you're not going to be able to save a dime.

 

Company stock should not be a line item in your budget. Company stock is almost always a losing proposition. You need a diversified 401k and Roth IRA.

[saladdin69]

What I'd do:

 

Look at selling company stock to settle all credit card debts. That is, unless you are at Google etc...

 

Up your deductible on insurance.

 

You are overpaying in Internet/Phone/Cable. Some of these vary in regions but my internet is 40, netflix 9 and pageplus phone is 12. I will never pay over 100 for the combination of Internet/Phone/Cable .

 

 

Odd to see you don't budget for utilities, eating out, entertainment and shopping.

[bbss2010]

If you are able to max out your 401k (~17k annually?) then you are at least very disciplined in that regard. Sounds like you've developed a plan, but you could also reduce the amount you're putting into your 401k for just a month or two and you could basically pay off your credit card balances in 2 months between that and your extra $1500 a month.

 

The trick will be, not running up your balances again. I suggest sitting down and making a budget. And then actually sticking to it. I find that I'm great at setting a budget, and horrible at sticking to it. I'm finally resorting to the cash envelope system now.

[Carboran]

Hey, I want to make sure I understand something. You have $1,500 left a month and that all goes away on random expenses? Or what happens to it?

 

In order to save money do this - go to a small brick and mortar bank, whose nearest branch is 30 miles away. Open a savings account and have a portion of your paycheck direct-deposited there. Don't tie it to any electronic accounts for ACH transfers. That way, if you ever need money, you will have to drive 30 miles. So obviously, you are not going to that often. If it comes with an ATM card or checks, shred them.

 

I am also seeing people telling you to not buy stock. Why? That is matched! That's free money! (unless your company is terrible, in which case, don't do it). I am also sure that there is a time period on that stock. When it expires, sell it.

 

Finally, I am not sure, why you don't think you have savings, what about your company stock? That's savings. It is liquid, so it is as good as cash, unless you have a ton of restrictions. Savings is not just cash. In fact, cash offers you the least return on your investment.

Edited November 6, 2012 by Carboran

[JrFICO]

The key to building wealth is PAYING YOURSELF FIRST!!!

 

 

 

 

Remember, before you pay ANYONE, YOU are the MOST IMPORTANT BILL that needs to be paid.

 

 

10% of every dollar that comes into your possession, you need to sock away. You can even get more detailed and divy up that 10% amongs an EMERGENCY FUND, SHORT TERM, RETIREMENT.

 

 

Then take another 5-10% and put that towards something for FUN.

 

 

 

 

 

Trust me, this works. We can get into all the details of how to build a budget. But if you pay yourself first, not only do you create an environment of abundance mentally, but you will ALWAYS have money.

Edited November 7, 2012 by JrFICO