Getting married in a week, could use some budgeting advice??

[aust99]

Before I met my bride-to-be, I didn't care about saving money or paying bills on time. I racked up a lot of debt and screwed up my credit. Now two years later, I've managed to pay off all of my credit cards, pay off a car loan, and take a chunk out of my student loans. But even though I've gotten myself mostly out of debt, we're getting married in two weeks and I've got make sure the budget I've made up for us will float.

I don't make much money, about 2,000 a month, and I have to take out my own taxes because I'm sub-contracted (my fiance has a health condition that makes it hard for her to keep a job, so I'd like to avoid her having to work if at all possible)

my budget is as follows:

rent: 520
electricity: 85
water: 35
food: 300
student loan: 50
car insurance: 45
family health insurance: 288
work insurance 20
cell phone: 15
cable/dvr: 65
netflix: 9
supplies: 50
eating out: 20
savings: 300-whatever is left over


One big problem though, my largest account has been more-then-shakey lately, If they dropped us I'd be out $1,200 a month, and new accounts don't come along often in my line of work. I obviously can't support the two of us on $800 a month, so I've come up with a back-up plan. I can substitute teach (I'm taking classes part time to get my teaching degree) which would give me $66 a day before taxes, and I could keep $500 worth of accounts on the side, giving me a new monthly income of $1500 or so respectively.

So I need to have a back up budget to reflect my then lower income, which items could I cut back on or cut out completely? obviously I can let the cable go if need be, but then what? health insurance? I know $1500 isn't a lot to get by on for two people, but until I get out of school (which will be a while since I can only go to school part time) I have to do my best. thanks.

[MiikeB]

Well should it become necessary, I think you could cut the cable. Also, you should be able to shave $100 off that food bill, especially if your DW to be isn't working, cooking from scratch shouldnt be a problem as well as checking the web for coupons etc.

Also, you didn't mention what her health condition is, but would it be possible for her to get some kind of work from home part-time job? Maybe offer to dog-sit 2 dogs for $10 each a day while the owner is at work or something...very easy work assuming she just has to walk them 3 times, and you would be surprised what people will do for dogs. Or maybe she could do some at home daycare (not sure on legalities about this). There are a ton of things that can be done from home with a little creativity.

[kork13]

You don't seem to have any significantly inflated expenses. Perhaps the best ones you could chip away at would be food and cable/dvr/netflix.

How much pre-prepared foods do you purchase, like frozen and packaged meals? Cooking meals from scratch generally are much less expensive, and also healthier. You may be able to reduce your food costs by up to $100 by cooking most/all of your meals using basic ingredients and a good cookbook.

Definitely look at taking out cable. If you use netflix to get new shows to watch, you can take out cable and use an antenna, or watch tv shows online. If you don't think you could part with cable, then ditch the netflix and DVR at the least.

Also, if you're going to live on a lower income, you can probably scale back on your savings--perhaps to $200/mo. That would still be almost 15% of your income, so you'd still be looking good in that respect.

I wouldn't take out the health insurance, especially if your to-be has health problems. Unless you can find cheaper insurance that provides the same coverages, I'd leave that alone. Perhaps raise your car insurance deductible? Also, what is "supplies"?

Last, could your wife perhaps work out of home somehow? There are many ways to do this, and it could give you at least a few extra hundred dollars to work with each month.

[aust99]

well our landlady wouldn't allow the dog sitting thing, but my fiance would probably have to get a part-time job of some sort in this scenario. I was planning on selling one of our cars though and getting by with one car, but if she worked I'd have to keep the car and add car insurance plus extra gas to my budget (not sure if I put gas up there, but I'm spending $150-ish)

supplies are her monthly feminine products, soap, detergents, paper towels, ect.

and I've already made up a list of our favorite tv shows, and almost all of them are online. we have free internet thanks to our neighbors so I'm ok cutting out the cable/dvr. and she is a great cook and I'm not too bad myself, so eating at home everyday shouldn't be a problem.

any other thoughts?

[jIM_Ohio]

I think boosting income (find another client) makes more sense than substitute teaching. Even if you have to diversify the business you do.

[snafu]

I suggest you get some input from fiancee. Can either of you tutor students who need help with math for example? Can fiancee do 'personal' catering for others in your bldg./street. That is create a home made, healthy dinner for others 5 nights weekly that is picked up all packaged, just heat 'n eat?

[aust99]

I work in commercial cleaning, we get one or two new accounts a year if we're lucky, most of which aren't worth more then a couple hundred a month. with the economy the way it is, we're loosing more then we get, so there's no way to count on getting new contracts in the near future.

[maat55]

Originally Posted by aust99

I work in commercial cleaning, we get one or two new accounts a year if we're lucky, most of which aren't worth more then a couple hundred a month. with the economy the way it is, we're loosing more then we get, so there's no way to count on getting new contracts in the near future.

Look into getting a part-time job doing something else. Deliver pizzia or something. It can help get you through this bad market.

[jIM_Ohio]

Originally Posted by aust99

I work in commercial cleaning, we get one or two new accounts a year if we're lucky, most of which aren't worth more then a couple hundred a month. with the economy the way it is, we're loosing more then we get, so there's no way to count on getting new contracts in the near future.

Can you do more services than just cleaning? Expand the services you provide?

[aust99]

Originally Posted by jIM_Ohio

Can you do more services than just cleaning? Expand the services you provide?

you name it, we do it already. I've looked at it from every angle, unless some new account falls into our lap then I'm making as much as I possibly can with this company, and I am payed easily double an hour then any of our competitors would hire me for. There just isn't much work to be had in this economy. I was planning on supplementing my income with some substitute teaching anyway, it just kind of turned into a back up plan.

[twinjackienurse]

food: 300---I suggest couponing! There are alot of blogs out there on how to save money. We have saved over $500 in the last 3 months just from collecting coupons. I cant believe all the stuff out there that is free with coupons!!

[KatieNK]

You should have your wife check out this website: Rat Race Rebellion - Work from home: No Commute. No regrets.. It lists work at home jobs. Maybe your wife could do something like that? Also check out this forum: Work Place Like Home

Also, I am a teacher and I think you should definitely try to sub. not only will it give you extra money but it will get your foot in the door with several schools. Unless you live in the city, it is actually really hard to get a teaching job, with most positions getting about 100 resumes. You are lucky though that you are a guy, you will have less trouble than most girls.

$300 is a bit much for food, I think. We spend less than that for me and my hubby by planning meals ahead of time and not buying a bunch of extra crap. Also I shop at cheaper places like Walmart and soon we are getting a Redner's Market.

You should lower your cable. We only pay $20 for the basic network channels. We tried to get an antenna but we only got one station. Netflix you can cancel and instead rent from those movie boxes you see in grocery stores where the fee is only $1/day.

[aust99]

Originally Posted by KatieNK

I am a teacher and I think you should definitely try to sub. not only will it give you extra money but it will get your foot in the door with several schools. Unless you live in the city, it is actually really hard to get a teaching job, with most positions getting about 100 resumes. You are lucky though that you are a guy, you will have less trouble than most girls.

$300 is a bit much for food, I think. We spend less than that for me and my hubby by planning meals ahead of time and not buying a bunch of extra crap. Also I shop at cheaper places like Walmart and soon we are getting a Redner's Market.

You should lower your cable. We only pay $20 for the basic network channels. We tried to get an antenna but we only got one station. Netflix you can cancel and instead rent from those movie boxes you see in grocery stores where the fee is only $1/day.

I do live in a small city with some very good schools, I'm told that male high school science teachers are in high demand here so I think my chances of getting a job out of school are pretty good. also, my mom has been a teacher for ten years or so and knows everyone in the system, which can't hurt. hopefully the subbing will help me get a foot in the door too.

well, everyone is saying I can cut some of the food bill, that's good. I've only been buying groceries for about two months now and I haven't tried the coupon thing yet. and I probably will cut the cable and watch tv online, but the netflix I'm going to try to keep because it saves us money. we can watch as many movies as we want for $9, before netflix we spent more then that a week at blockbusters (we're movie people) and now there are no late fees to worry about.