|
Congrats on making progress! But you need to work on your food, How many people are you feeding per meal on average? What are you buying? You need to stop eating out, that saves you quite a bit of money right there, and maybe start meal prepping. Next time you go grocery shopping snap the receipt and post it. Might be able to help you save some money there.
|
#
?
Oct 16, 2017 22:13
|
|
|
|
| # ? Apr 16, 2024 05:15 |
|
|
zaurg posted:I'm going to do what Giraffe suggested.  I've got one more suggestion for you: don't go bananas trying to cut your spending to the absolute bone. Yes, you hosed up your October spending with that $771 vacation, but the rest of your discretionary is fine so far. To get back on track is not going to take insane financial self-denial, it's going to take learning how to manage your spending decisions. Don't financially yo-yo diet, you know it doesn't work for you. Here are the goals I'd like to see you hit before you go too crazy: 1. Pick a number for the rest of October, I don't care what it is, and keep your spending under that. $300, $500, it doesn't matter, just make it realistic. Then do not exceed it for anything less than a true emergency. 2. Spend less than $1000 in discretionary in November. No excuses, just do it. Use this as your first real dry run for how to live within your means. Every dollar you spend in one place is a dollar you don't have to spend in another. Then just get through Christmas without bankrupting yourself and see where you are heading into 2018. Maybe you find more cuts, maybe you identify a couple of areas (e.g. groceries) and just focus on getting the most bang for your buck from what you do spend. Take it slow, don't let mistakes push you into just giving up, but hold yourself accountable when you spend money, not just when you tally up the damage.
|
|
#
?
Oct 17, 2017 01:52
|
|
|
1. I'm not good at this. Pick a # for the rest of October... 15 days, all I can think of right now are: groceries - $100. This is low for me. I eat a lot. Maybe $150. gas - tank is getting low right now so probably a fill up on Wednesday and again right around end of month. Maybe $50. younger daughter has halloween costume, older daughter does not. going to try to get ex to handle that this weekend. $200-250 range sounds doable for rest of month. Does that sound crazy unlikely low? High? 2. Agreed Will have to set a budget for Christmas. Bikes on craigslist, $20, nice.
|
|
#
?
Oct 17, 2017 03:55
|
|
|
Keep it under $350 for the rest of the month and it’s a victory.
|
|
#
?
Oct 17, 2017 04:02
|
|
|
Once this month is over you can donate all your new goalposts to the Canes
|
|
#
?
Oct 17, 2017 11:10
|
|
|
If your ex won't cover yer kidlet's costume, PM me. I've outfitted like ten or twenty kids for Halloween with packing tape and poo poo from my recycling bins. (Clean stuff! I am not a monster!)
|
|
#
?
Oct 17, 2017 15:34
|
|
|
Fleta Mcgurn posted:If your ex won't cover yer kidlet's costume, PM me. I've outfitted like ten or twenty kids for Halloween with packing tape and poo poo from my recycling bins. (Clean stuff! I am not a monster!) But you turn children into them?
|
|
#
?
Oct 17, 2017 15:35
|
|
|
Elephanthead posted:But you turn children into them? Exactly. My best one was a kid who let me use stuff from the Lost and Found. One construction paper set of glasses and a mustache, and he looked just like our principal, ill-fitting blazer and all.
|
|
#
?
Oct 17, 2017 15:40
|
|
|
Droo posted:If you decide to stay in the house, you can probably find a mortgage broker and tell him you want to refinance when you can get 4.0% or lower on a 30 year with less than $1000 in cost. The broker would be able to watch the rates and just call you when it gets to your desired level. A mortgage person might be able to chime in with what kind of fees are realistic to expect for the refinance. How legit are these? 3.75% and almost no fees? For reference: $330k home value $250k mortgage balance $1297 current monthly payment (principal and interest) credit score, mid 700's last time I checked earlier this year. https://www.zillow.com/refinance/ 30 year fixed Agora Lending NMLS #1121650 58 Reviews 4.69/5 3.750 % RATE 3.750 % APR $1,153 MO. PAYMENT $1 FEES 30 year fixed Sebonic Financial NMLS #66247 2,456 Reviews 4.61/5 3.750 % RATE 3.758 % APR $1,153 MO. PAYMENT $252 FEES 30 year fixed Sindeo, Inc. NMLS #1138066 90 Reviews 4.57/5 3.750 % RATE 3.759 % APR $1,153 MO. PAYMENT $289 FEES 30 year fixed goodmortgage.com NMLS #2917 692 Reviews 4.73/5 3.750 % RATE 3.759 % APR $1,153 MO. PAYMENT $278 FEES
|
|
#
?
Oct 17, 2017 16:47
|
|
|
Ah, rearranging the deck chairs on your Titanic. How much time is left on your current mortgage? How much more will this move cost you in the long run?
|
|
#
?
Oct 17, 2017 17:01
|
|
|
Many here suggested I look into refinancing. It struck me as odd at first because I just refinanced less than 2 years ago for a 30-year fixed, but the rate is 4.5%, so I guess if I could get that lower without paying a ton of fees, it's worth it? How much more would it cost me in the long run... I don't know, good question. All I've been thinking about is my monthly stuff.
|
|
#
?
Oct 17, 2017 17:30
|
|
|
hell yes I just changed my AT&T cell phone plan. It took until the 3rd person I chat/spoke with to find out they have lower cost prepaid plans. Today I just straight up said I need to cancel because I can't afford it and i'm switching to a low-cost provider like Metro. They got me switched to a prepaid plan quick. Old plan: $66.82 for 2gb data plan New plan: $32.50 for 1gb data plan I think someone years ago in previous thread suggested switching to a cheaper prepaid plan. Finally got it done
|
|
#
?
Oct 17, 2017 17:41
|
|
|
zaurg posted:hell yes Why are you not on cricket? It's 35/mo with autopay on for 5GB and it's on the AT&T network.
|
|
#
?
Oct 17, 2017 17:58
|
|
|
zaurg posted:I think someone years ago in previous thread suggested switching to a cheaper prepaid plan. Finally got it done So you only wasted about $1200 by not doing that 3 years earlier. As far as the mortgage rates, those look about right but I don't know how legit those places are. I suggest you find a local independent mortgage broker and give them a call to discuss what kind of rate and cost is realistic.
|
|
#
?
Oct 17, 2017 18:06
|
|
|
zaurg posted:How much more would it cost me in the long run... I don't know, good question. All I've been thinking about is my monthly stuff. This is pretty much the mantra for your entire financial life. It may actually save you money with the lower interest rate, but if you don't sit down and do the math (literally, less time than it takes to make a post here) then you're missing the whole point of refinancing. edit: because I literally can do it faster than you, assuming you have 336 remaining payments (28 years * 12 months) then you owe: $435,792 on your current mortgage. If you refinance at 3.75 you will pay 360*1153+300 in fees: $415,380 to refinance. Sounds like a smart choice! Before you jump, look at how changing to a 15 or 20 year term changes things. The lower interest rates will save you probably $80,000+ over the life of the loan. Your monthly payments will be higher, but you'll be done 10-15 years sooner. Nocheez fucked around with this message at 18:13 on Oct 17, 2017 |
|
#
?
Oct 17, 2017 18:07
|
|
|
Droo posted:So you only wasted about $1200 by not doing that 3 years earlier. Yes I've wasted a lot of money ok thanks, will do
|
|
#
?
Oct 17, 2017 18:55
|
|
|
Thanks for the math Nocheez
|
|
#
?
Oct 17, 2017 18:58
|
|
|
Made the big mistake of quickly submitting a form to get auto insurance quotes last night via http://www.insurancepanda.com/ Getting slammed with calls Don't use insurance panda unless you want to be slammed with telemarketer calls
|
|
#
?
Oct 17, 2017 20:12
|
|
|
Nocheez posted:This is pretty much the mantra for your entire financial life. It may actually save you money with the lower interest rate, but if you don't sit down and do the math (literally, less time than it takes to make a post here) then you're missing the whole point of refinancing. He can’t afford the higher monthly payments of a shorter term. He can’t really afford his current mortgage either, but he’s stuck with it at least for the moment.
|
|
#
?
Oct 17, 2017 20:18
|
|
|
zaurg posted:Made the big mistake of quickly submitting a form to get auto insurance quotes last night via http://www.insurancepanda.com/ You can also find a local independent insurance broker to find coverage for you, instead of trying to do it yourself online.
|
|
#
?
Oct 17, 2017 20:19
|
|
|
No Butt Stuff posted:Why are you not on cricket? It's 35/mo with autopay on for 5GB and it's on the AT&T network. It's literally owned by AT&T
|
|
#
?
Oct 17, 2017 21:53
|
|
|
Ya'll know zaurg is improving when all BFC can suggest is to change my $32.50 AT&T cell phone service to a $35.00 AT&T cell phone service just to upgrade data limits from 1GB to 5GB I can't afford $35/month for cell phone, team. I'm gonna stick with the $32.50 plan. 
|
|
#
?
Oct 17, 2017 22:15
|
|
|
zaurg posted:Ya'll know zaurg is improving when all BFC can suggest is to change my $32.50 AT&T cell phone service to a $35.00 AT&T cell phone service just to upgrade data limits from 1GB to 5GB Cancel the lawncare.
|
|
#
?
Oct 17, 2017 22:50
|
|
|
zaurg posted:Ya'll know zaurg is improving when all BFC can suggest is to change my $32.50 AT&T cell phone service to a $35.00 AT&T cell phone service just to upgrade data limits from 1GB to 5GB "Buy the cheapest thing that does what you need" is intro-level BFC. "Buy the best value for your money" is advanced BFC. You're not ready for this yet.
|
|
#
?
Oct 18, 2017 01:55
|
|
|
zaurg posted:Dinners already planned for week. I think all I need as far as food for the entire week is just one grocery store stop for some bananas. bengy81 posted:Congrats on making progress! Needed more than bananas. It's just me plus 2 kids 15 days per month. I did skip a few things I had written down on the list. Trying to focus on true "needs". Should have skipped cream cheese, already have butter and peanut butter. Went store brand for everything that was cheaper. I'm sure i could save a few bucks going to a mixture of Walmart/Target/Trader Joes but this was all at Publix. 
zaurg fucked around with this message at 01:58 on Oct 18, 2017 |
|
#
?
Oct 18, 2017 01:55
|
|
|
If you cut out the $248 on restaurants you can save more than all the minor savings. Same for $771 on vacations. Being frugal on regular expenses is always good but it's the big expenses that are truly shafting you. We don't want your wallet to look like 
|
|
#
?
Oct 18, 2017 02:03
|
|
|
I'm assuming that's grub for a week or so? What do you do for protein? Honestly If you can spend $100 or so a week on grub and cut eating out you would be in good shape. Nothing on that receipt sticks out as unneeded or out of line to be honest.
|
|
#
?
Oct 18, 2017 02:11
|
|
|
zaurg posted:amex credit card has 800 balance, 15.5% Ultimate Mango posted:
Paid off the AMEX $800 balance today so I have two balances now: Visa credit card, $4375, 16% Personal loan $6000, 5% I'm going to continue the automatic monthly $100 minimum payments on the loan and throw as much as I can at the Visa. I've built my emergency fund up to $1250 over the past 5 months putting $250 per month in at the beginning of the month. I was considering throwing all that at the Visa but I'm just going to keep it. That's the right move right? I mean yeah I'm paying interest charges on the Visa, but the emergency fund is literally all I have in savings. 
|
|
#
?
Oct 18, 2017 03:34
|
|
|
bengy81 posted:I'm assuming that's grub for a week or so? What do you do for protein? This is a change for me. Usually that receipt has salsa, chips, beer/wine, 5 other random things I find in the store, other random fruit, some extra veggies, etc etc etc. Will be buying a large pack of chicken breast which I think is about $2-$2.50 per pound. Usually buy the single pack of 2-3 breasts at $5 per pound.
|
|
#
?
Oct 18, 2017 03:38
|
|
|
zaurg posted:This is a change for me. Usually that receipt has salsa, chips, beer/wine, 5 other random things I find in the store, other random fruit, some extra veggies, etc etc etc. Do you have a Costco membership? $60 annual fee, but might be worth it for gas and groceries if there is a warehouse in your area. Plus if it doesn’t work out, 100% refund anytime before a year is up. Great if you have a freezer to store chicken, plus they have home hair cut kits, and good auto insurance programs.
|
|
#
?
Oct 18, 2017 04:03
|
|
|
Got this budget thing to $1223 left over. I can switch child2 to part-time aftercare ($120/month) which is 2-4PM, instead of the full-time aftercare 2-6PM ($240/month). Only need it one day a week at most and that day my employer will allow me to pickup @ 4 and bring her to work with me. What am I missing? I think everything is here. The problem is what I do with the "left over". Lawncare is still there. Might get rid of it along with the gym - cooler weather for both - soon - maybe. Category Monthly Notes Income after taxes $4,900.00 Extra income $50.00 total income = $4,950.00 401k Roth $305.00 5% from each paycheck Emergency Fund Savings $250.00 total savings = $555.00 Regular Fixed Expenses Mortgage $1,750.00 House insurance escrowed House property tax escrowed Auto Insurance $100.00 $600 every 6 months. $598.33 paid in August 17 Life Insurance $24.00 Health Insurance me&kids $430.00 Personal loan $100.00 Car loan $0.00 Don't have one Electric $150.00 avg per month Water $75.00 avg per month Internet $48.50 TV $0.00 cancelled 10/15/17 Music $0.00 cancelled 10/15/17 Cell Phone $30.00 icloud $2.99 Lawn service $80.00 Child1 Pre-K/Aftercare $240.00 Child2 Aftercare $120.00 Gym $21.00 Everything else ? total income = $4,950.00 total savings = $555.00 total expenses = $3,171.49 left over = $1,223.51
|
|
#
?
Oct 18, 2017 04:04
|
|
|
Hyrax Attack! posted:Do you have a Costco membership? $60 annual fee, but might be worth it for gas and groceries if there is a warehouse in your area. Plus if it doesn’t work out, 100% refund anytime before a year is up. Costco Cash Rewards Balance (Year to Date) $ 193.00 Yes and the Visa card covers the membership. I spend a lot. :facepalm: But yes that's what I was thinking of, Costco chicken packs. Home haircut kits? Like this? https://www.youtube.com/watch?v=ZshSzvKXd8o I already have that! I just haven't tried it on my head, only my face.
|
|
#
?
Oct 18, 2017 04:10
|
|
|
What about moving into my office and Airbnb'ing my master bedroom & bathroom? Any of you try this to make extra $?
|
|
#
?
Oct 18, 2017 04:15
|
|
|
So what's the goal with the $1223 left over? Is that discretionary? Going into savings or towards debt?
|
|
#
?
Oct 18, 2017 04:26
|
|
|
bengy81 posted:So what's the goal with the $1223 left over? Is that discretionary? Going into savings or towards debt? Goal for November is still to keep discretionary under $1000 Whatever is left from the 1223 will go towards Visa balance so I can get that to zero quick. Once Visa is to zero then I'll increase monthly savings and increase my payment to personal loan to help speed that up, even if just an extra 50.
|
|
#
?
Oct 18, 2017 04:49
|
|
|
zaurg posted:Costco Cash Rewards Balance (Year to Date) $ 193.00 Yeah I have a home haircut kit and it works well. Although those are heavily dependent on the guy, but if the barber is buzzing it for you it’s a good idea. Costco offers good rates on home and auto insurance, if you are looking for quotes, it’s a nice place to start https://m.costco.com/services.html For running and giving up the gym, understood Florida weather may necessitate treadmills. Is running early in the day or late evening an option?
|
|
#
?
Oct 18, 2017 05:10
|
|
|
zaurg posted:Goal for November is still to keep discretionary under $1000 So I feel like having $1000.00 discretionary might be a really bad idea. Break down what you are spending that money on, find areas where you can save and set some goals. I mean you need to get your loan balances moving south and you need more of an emergency fund than 1200 bucks. Maybe you don't deserve 1000 bucks to have fun with?
|
|
#
?
Oct 18, 2017 05:13
|
|
|
Why is your health insurance listed in your budget? Isn't that tax deductible no matter how you slice it? How much do you owe / get back each year for taxes?
|
|
#
?
Oct 18, 2017 06:17
|
|
|
Am I the only one that noticed the 1250 emergency fund number? If you have an emergency you're hosed - get that fixed before anything (including putting extra on your loans). Literally, if your car breaks down or you lose your job/get sick you're absolutely hosed and it won't matter if you paid extra on your loan.
|
|
#
?
Oct 18, 2017 06:46
|
|
|
|
| # ? Apr 16, 2024 05:15 |
|
|
Yeonik posted:Am I the only one that noticed the 1250 emergency fund number? If you have an emergency you're hosed - get that fixed before anything (including putting extra on your loans). Literally, if your car breaks down or you lose your job/get sick you're absolutely hosed and it won't matter if you paid extra on your loan. We're dealing with the immediate problem of having zuarg spiral into a sea of unrecoverable debt. Until he can manage to spend less than he earns in a month (I'm not counting retirement savings etc) then there's not point focusing on the next issues to fix.
|
|
#
?
Oct 18, 2017 07:21
|
|