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  1. #1
    What's a Budget?
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    Default Help! Im drowning in debt

    Hi! I am in need of a doable budget! I have two stacks of unpaid bills and am no closer to paying them them I was a month ago. I have two children and am now working,I thought when I started to work,the bills would get paied off easier but when I get paid thats the last thing I think of!I am an emotional spender and get paid every friday,but then its gone and I wonder where all the money went off too! I have no emergency savings and my car needs two new front tires badly,it also needs to be checked out on some other repairs! I know I am making enough to start paying off the debt but then when I go shopping my kids are always needing something for school of clothing,so I wind up buying what they need.I need some help from someone out there who can make sence of all this and make a doable budget for me to follow so that the kids can also have thier needs met as well.Can any one help me??

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  3. #2
    Deal Goddess
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    Default Doable Budget

    Scoots.. the easiest Do-able budget that there is, is the envelope budgeting method. It lets you break down how much money you have vs what your expenses are. You could add in columns for the kids (clothing allowances, etc) if need be.

    The biggest thing is, kids THINK they need things that they dont. Yes, they need shoes, but NO they Dont NEED $100 Nikes. Once the kids see that the money is broken down into weekly increments, they will have a better understanding of what you can really afford. It's a good budgeting opportunity for them as well.


    Here's a link to Envelope Budgeting:

    http://www.budget101.com/art251.htm

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  5. #3
    Deal GURU
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    Default Re: Help! Im drowning in debt

    Where to find info on the envelope idea for budgeting
    Mdowdy

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  7. #4
    Budget101 Guru
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    Default Re: Help! Im drowning in debt

    Set your kids up an allowance you can handle and tell them if there is anything extra they think they have just "got to have" that they can save up for it. Believe me, it will make them think twice about buying something that they really don't need if they have to budget to pay for it.

 

 

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