Does that $1800 include your Earned Income Credit? With a family of 3, you likely qualify for several hundred dollars per month.
I feel for you. Plenty of websites with advice for saving on your food budget. With planning and good shopping you could reduce your monthly grocery bill to under $150 per month or much less. Save more money by not eating out (that saves $3 to $10 per meal).
is there any way to make more money? if not how can you cut back? it really isn’t that complicated. small things over time can make a difference. go to the library for books and movies, take a thermos of coffee to work rather than by a Starbucks, pack a lunch, go out to lunch on the weekend rather than dinner, quit smoking, drinking, playing the lotteries. don’t buy pre packaged food, cook stables such as rice and potatoes, make your own cookie and muffins, use cotton diapers and wash them yourself. don’t use your credit card, if you can’t afford it do without until you can. really so much of our modern money problems stems from being lazy and paying a high price for easiness and immediate gratification. good luck it really will work but you have to be willing to work a little harder. which do you have more of time or money?
The thing I see that sticks out the most is that half of your income is going to rent. That is a bit excessive.
There are only two possible solutions. The first is to increase the income…and the second is to reduce the expense.
I am guessing that it is a one income household. Have you ever thought about providing daycare to make some extra money. I am assuming that you don’t want to leave your child with someone else and get a job. And, yes I am assuming it is the female asking this question.
These assumptions are based on my experience…I have been a Tax Accountant since 88.
You haven’t mentioned how you get from 650 to 60, except that it is necessities. But, one thing that stands out is the Internet connection. Believe it or not I lived 30 years without a computer and another 5 without the Internet. And I am 46. I was writing computer programs several years before I had one in my home. And at 46 I am semi-retired…I only work five months a year. This year meaning 2008 I am not going to work at all.
That is all I know to tell you. You can only squeeze so much out of $1800 a month. I live on less than that..and the rest goes to retirement…but my townhouse payment is $325 a month and I am single.
I can afford a much larger home…but what would I do with it? I have 2 bedrooms and 2 baths…I can’t even use the entire home I have now unless my daughter visits.
18. October 2008 at 10:47 pm :
Does that $1800 include your Earned Income Credit? With a family of 3, you likely qualify for several hundred dollars per month.
I feel for you. Plenty of websites with advice for saving on your food budget. With planning and good shopping you could reduce your monthly grocery bill to under $150 per month or much less. Save more money by not eating out (that saves $3 to $10 per meal).
21. October 2008 at 2:16 pm :
is there any way to make more money? if not how can you cut back? it really isn’t that complicated. small things over time can make a difference. go to the library for books and movies, take a thermos of coffee to work rather than by a Starbucks, pack a lunch, go out to lunch on the weekend rather than dinner, quit smoking, drinking, playing the lotteries. don’t buy pre packaged food, cook stables such as rice and potatoes, make your own cookie and muffins, use cotton diapers and wash them yourself. don’t use your credit card, if you can’t afford it do without until you can. really so much of our modern money problems stems from being lazy and paying a high price for easiness and immediate gratification. good luck it really will work but you have to be willing to work a little harder. which do you have more of time or money?
24. October 2008 at 11:18 pm :
Well, this is a problem.
The thing I see that sticks out the most is that half of your income is going to rent. That is a bit excessive.
There are only two possible solutions. The first is to increase the income…and the second is to reduce the expense.
I am guessing that it is a one income household. Have you ever thought about providing daycare to make some extra money. I am assuming that you don’t want to leave your child with someone else and get a job. And, yes I am assuming it is the female asking this question.
These assumptions are based on my experience…I have been a Tax Accountant since 88.
You haven’t mentioned how you get from 650 to 60, except that it is necessities. But, one thing that stands out is the Internet connection. Believe it or not I lived 30 years without a computer and another 5 without the Internet. And I am 46. I was writing computer programs several years before I had one in my home. And at 46 I am semi-retired…I only work five months a year. This year meaning 2008 I am not going to work at all.
That is all I know to tell you. You can only squeeze so much out of $1800 a month. I live on less than that..and the rest goes to retirement…but my townhouse payment is $325 a month and I am single.
I can afford a much larger home…but what would I do with it? I have 2 bedrooms and 2 baths…I can’t even use the entire home I have now unless my daughter visits.