Hello all need help budgeting

Budget101 Discussion List Archives Budget101 Discussion List Hello all need help budgeting

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      Agreed! So many people think Credit Cards are out to “help” you,

      when in actuallity, unless you have enough money to pay them off at

      the end of the month, they are costing you your hard earned money in

      interest, and if late- late fees, overlimit fees, etc.

      Rather than helping you, they can actually hurt you in the long run,

      and create an endless cycle of “needing” a credit card. You don’t!

      Need is a word I feel strongly about.

      I describe a need as something that keeps you alive- shelter, heat,

      electricity, clothing, food.

      Anything else is want- cell phones, cable tv, expensive cars, newer

      cars, gadgets & gizmo’s, etc. You need to sort your priorities- Make

      a budget, basically.

      Sort your needs from your wants, first, and cancel or cut back on

      any extra wants that are hurting you financhially. If you have a

      cell phone you use, check your monthly minutes. Are you using too

      many? Not all of them? Cut back on how you use it, if you overspend

      minutes. Cut back on the minutes plan if you under use it. It will

      save you money!

      If you have cable TV, do you watch all those channels? Or just a

      handful? Check if you can reduce the channels you get for a lower

      monthly price- or, try shutting it down for the summer, and put the

      money towards the house payment.

      Now, to help with the house-

      First off, contact the mortgage company, and ask about over-

      payments. Some places have a rule- over payment must be $50 or more

      in order to go towards principle, or it goes to interest first, etc.

      Make sure you know before hand, so you aren’t losing more money on

      interest.

      Next, see if you would qualify for refinancing it at a lower monthly

      interest rate. If you do, ask what’s needed to do it, and what the

      payments would be, how long the payment period is (will it take 10

      years? 20?, is it shorter than before? Longer?, etc).

      Last- consider a yard sale. I know, I know, they’re hard work, and

      the money isn’t always the best- but sometimes it can be! Look at

      older furniture, closets, boxes collecting dust, etc. Haul it all

      out, sort it into piles: stuff to keep, stuff to throw out, stuff to

      sell, stuff to pass on.

      Hae a yard sale, and put the money towards either paying off the

      credit cards, or paying on the house loan. If you live on a

      residential road with lots of other houses, ask neighbors to

      consider doing a neighborhood-wide yard sale. These types attrack a

      LOT of attention, so you’ll get more shoppers. You will also be able

      to save on advertising. Make up (or have someone make up) 1 large

      sign for the end of the road on each end, and everyone chip in for

      an add in the paper (they cost about $20 for a good long add, but if

      5 houses join, it’s a joint advertisment for $4!).

      For saving money in other ways, simply cut back on the wants. Do you

      eat out for lunch or dinner at all? Cut back how often in half. If

      you go to lunch 4 days a week, go twice a week, and pack or make

      lunch at home the other 2 days. Put the money you save into a change

      jar.

      Order water with lemon to drink- it’s free. A soda might not seem

      like much, but at $1 or more for a glass, it adds up. Order a less

      expensive meal than you normally would. Again, it might only be a $1

      or $2, but it adds up. If you normally spend $6 for a lunch, and eat

      out 5 days a week, that’s $30 a week, or $1,560 a year. If you cut

      out 2 days a week, there’s $12 saved. If you cut back what you eat,

      and drink, that’s $9 more saved per week. That brings the costs down

      to $468 a year- over $1,000 saved.

      If you go out to dinner once a week, cut back to once every other

      week. Again, stash the money into a change jar. I personally use a

      large mason jar. I put dollar bills and change into it as I collect

      it through out the day. Yesterday, I cashed my jar out, and

      deposited it into my vacation fund- $70 even! And only $28 was from

      dollar bills. It adds up.

      Once a month (or longer, if the jar is less than half filled), roll

      the coins, or cash them in at a coin machine, count up the dollar

      bills (or larger, if you have them), and make a deposit into the

      bank to help earn interest. Use it towards your house payment or

      credit cards.

      Other wants that can be cut back on- drive less if you are able.

      Combine errends so you waste less gas. When getting gas, just get

      the gas- don’t buy the over priced sodas, the candy bars, the chips,

      etc. If need be, keep some snacks with you in the car to avoid

      impulse buying at the gas station or corner store.

      Shop wisely. If an item is on sale, and you buy it once a week, buy

      2 this week, and save the extra money. If you have a coupon for that

      item, save the coupon for when it goes on sale. Let’s say you buy a

      type of biscuit every week, and spend $1.49 per tube. It goes on

      sale for $.99, and you have a coupon for $.35 off- suddenly, that

      tube is now $.64- less than half price. If that coupon doubles at

      your store, it’s only $.29! Stock the coupons, and you can buy 4 for

      the month at $1.16- less than it costs for 1 at full price.

      Invest in a garden this summer. Plant stuff you eat more often-

      fresh melons, fresh veggies, etc. It’ll pay off when you have free

      food coming up in the garden!

      Stop using the credit cards unless absolutely necessary! It will

      take a while to cut back completely, I know, since they are helping

      you pay the bills. But if you can find any money saving advice

      above, then you should be able to have more money available at the

      end of the month to pay bills with, and that credit card should

      become obsolete.

      Hope this helps you (or anyone else!)

      Heather

      — In Budget101_@yahoogroups.com, marie selders wrote:

      >

      > Take the credit cards out or your wallet. Don’t use them at all.

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Budget101 Discussion List Archives Budget101 Discussion List Hello all need help budgeting