Please look at my budget.

[disneysteve]

I make $11 hr. I usually work 2 hours a day making $110 week/$220 bi-weekly. How much do you think I would need to work to be able to help bring down some debt as fast as we can?

It seems to me like your only real option is more income.

I think OP understands that. Her original question was how much does she need to work to fix this.

The point I, and others, have been making is that it isn't quite that simple. Yes, more income is needed, but a better understanding of the situation is also needed. We can't say how much more income is needed because we don't yet have an accurate picture of the current income or the current expenses.

[GoodSteward]

I think OP understands that. Her original question was how much does she need to work to fix this.

The point I, and others, have been making is that it isn't quite that simple. Yes, more income is needed, but a better understanding of the situation is also needed. We can't say how much more income is needed because we don't yet have an accurate picture of the current income or the current expenses.

You are right and I was working off other posts addressing cutting expenses. I forgot she only asked about how much income. However, my point is debt isn't the first priority right now based on the information the OP has given us. The first priority is financial protection, then debt. In that order it isn't so much how much is needed, but rather as much as possible is needed. She mentioned listening to Dave Ramsey, and even in his steps the EF is before debt repayment(additional payments).

[disneysteve]

my point is debt isn't the first priority right now based on the information the OP has given us. The first priority is financial protection, then debt. In that order it isn't so much how much is needed, but rather as much as possible is needed. She mentioned listening to Dave Ramsey, and even in his steps the EF is before debt repayment(additional payments).

True. First build a cushion. Then start filling in the hold you've dug (after making sure you have first stopped digging deeper).

[GoodSteward]

I am impressed by the lack of credit card debt given the income. At least from the people I'm around credit cards are often used to fill in the gap on lower incomes. At least the hole doesn't seem too deep, but when you have no shovel even a minor hole is nearly impossible to refill.

[disneysteve]

I am impressed by the lack of credit card debt given the income.

Same here. That's why I was questioning how they've been making ends meet given that the stated expenses exceed the stated income.

[ModestMama]

To answer all: I don't feel I am dead set on changing nothing. I mean, i did come here and ask for advice. I did say that i will try to reduce my grocery budget. The only thing i am not willing to change is the homeschool program we are doing. I only pay that for 6 months. It really is the best for my daughter and we have tried quite a few. I am seeing really good results with it.

Now as far as the amount going out exceeding what comes in,That is the point: It used NOT too. For one: He had his taxes turned off and #2 our home taxes has gone up increasing what we pay a month to our mortgage lender #3 Lasr year our insurance premiums doubled... #4 Car insurance went up some also.
The lowes card is not ours...My grandmother let us use hers ( Ugh I know thats BAD) and so we are paying monthly to pay off what we bought.

And with his bonuses and side jobs we always brought in more than went out. But the side jobs and bonuses are random. So I can't really budget those beforehand.

[scfr]

At the most I can only do 4 hrs a day.

Is it possible that you answered your original question yourself? Increase to 4 hours a day?

And please seriously consider the advice that has been given about tracking all of your expenses for the next several months so that you know where every single dollar goes. From there you can develop a complete budget. Doing this really helped me a lot, and I think it could help you too.

[disneysteve]

#3 Lasr year our insurance premiums doubled... #4 Car insurance went up some also.

But the side jobs and bonuses are random. So I can't really budget those beforehand.

Have you shopped around for new insurance policies? I'm certainly guilty of this myself but you really should re-shop the policies every year or two. You may be able to find cheaper coverage elsewhere.

The random side jobs and bonuses should NOT be part of your regular budget since they are not predictable. You need to have a budget that works on the base income. Then you also need a plan for what to do with the extra income.

[ModestMama]

Is it possible that you answered your original question yourself? Increase to 4 hours a day?

And please seriously consider the advice that has been given about tracking all of your expenses for the next several months so that you know where every single dollar goes. From there you can develop a complete budget. Doing this really helped me a lot, and I think it could help you too.

Actually, just in the past 2 days I was given the option of working an extra hour
each day so that would be 5 hrs a day.
Yes I agree, I will be keep a sharp eye on everything that we spend.

[ModestMama]

Have you shopped around for new insurance policies? I'm certainly guilty of this myself but you really should re-shop the policies every year or two. You may be able to find cheaper coverage elsewhere.

The random side jobs and bonuses should NOT be part of your regular budget since they are not predictable. You need to have a budget that works on the base income. Then you also need a plan for what to do with the extra income.

Our health insurance is through his job and we have researched it's the cheapest so far. As far as Car insurance, its with the lowest we had found at that time and I will call and see if there's a better offer.

Also, I know (so I've heard) it's strange to budget biweekly instead of monthly but I really don't know any other way. Do you know of a budgeting program that allows bi-weekly budgeting?

[GoodSteward]

Our health insurance is through his job and we have researched it's the cheapest so far. As far as Car insurance, its with the lowest we had found at that time and I will call and see if there's a better offer.

Also, I know (so I've heard) it's strange to budget biweekly instead of monthly but I really don't know any other way. Do you know of a budgeting program that allows bi-weekly budgeting?

Here is my opinion on this. Monthly budgeting doesn't work unless you are buffered at least a month ahead. Planning monthly is what I do, but I don't budget monthly. When you are paid bi-weekly, but you budget based on a months income you will find the following problems trying to make it work.

1. You will be short almost every month if you figure your annually salary on 12 months. Take 26 payments and divide by 12. That is the monthly income you avg, but this doesn't work when trying to make a budget. You only have 2 checks a month until you hit one of two months out of the year that give a third check. When you try to avg based on 12 months instead of two checks a month you will be short every month until you hit that check, and then you can only spend 1/6th of it monthly until the next third check. It doesn't work. Budget off 2 checks a month and count the bi-annually third check as a "bonus" check.

2. You can't properly stick to your budget if you don't know how much you have left in one category. Using Mint, Everydollar, or even paper, how do you know where you are at for the month if you are not paid in full at the start of the month? If you budget 500$ on food you can't go spend 500$ on food until you have that much money. To make it work you have to double up on everything in those monthly programs. Two food categories (one per check), two gas categories, etc. It makes it get very complicated trying to know which one it should go into.

The only good looking at your money from a month's view is for is when trying to figure out what you can technically do (planning/forecasting), or if you are buffered at least a month ahead or get paid monthly. I am bi-weekly and I know how annoying it is. When you are living check to check figuring income per month doesn't work. Budgeting each check based on a months needs is the only real way to do it.

I suggest using YNAB to track spending. They do not budget monthly, they budget per check. I recommend getting a spreadsheet, and making two columns. Get your bills due dates, and plan your bills according to which check they can fit into(without going over and by the due date). Each month pick a bill and pay it twice (leave one in the category to fund the next months payment). From here on you are a month ahead for that bill. DO this for each bill, and you will get ahead on all your bills without needing a bunch of extra month at once or figuring out how to get one month ahead.

[GoodSteward]

To answer all: I don't feel I am dead set on changing nothing. I mean, i did come here and ask for advice. I did say that i will try to reduce my grocery budget. The only thing i am not willing to change is the homeschool program we are doing. I only pay that for 6 months. It really is the best for my daughter and we have tried quite a few. I am seeing really good results with it.

Now as far as the amount going out exceeding what comes in,That is the point: It used NOT too. For one: He had his taxes turned off and #2 our home taxes has gone up increasing what we pay a month to our mortgage lender #3 Lasr year our insurance premiums doubled... #4 Car insurance went up some also.
The lowes card is not ours...My grandmother let us use hers ( Ugh I know thats BAD) and so we are paying monthly to pay off what we bought.

And with his bonuses and side jobs we always brought in more than went out. But the side jobs and bonuses are random. So I can't really budget those beforehand.

If you are covered by earned income, child tax credit, etc at tax time then you need to do what is necessary now to make the money work each month. There is no need to make yourself suffer more month to month just to get something back at tax time. State is usually not as forgiving on this, so paying into state might be something you want to keep doing. However, federal is probably covered for you guys at your income with a child. Given your situation, I think creating/uncovering any extra monthly income is top priority to give yourself some breathing room to even work on the EF or debt.

[disneysteve]

I think budgeting can be done any way you like as long as it accurately reflects your expenses and your income and it works for you.

I would just reiterate that what you've posted here isn't accurate or complete so making a realistic budget is impossible until you fix that.

Also, don't confuse every 2 weeks with twice a month. They are not the same thing. Every 2 weeks means 26 times per year. Twice a month means 24 times per year.

[GoodSteward]

I think budgeting can be done any way you like as long as it accurately reflects your expenses and your income and it works for you.

I would just reiterate that what you've posted here isn't accurate or complete so making a realistic budget is impossible until you fix that.

Also, don't confuse every 2 weeks with twice a month. They are not the same thing. Every 2 weeks means 26 times per year. Twice a month means 24 times per year.

This is true. When I hear budget monthly, it is normally followed by yearly income divided by 12. I assumed this was what they meant. It is not the same. I went back and tried to clarify what I meant in some places.

[disneysteve]

This is true. When I hear budget monthly, it is normally followed by yearly income divided by 12. I assumed this was what they meant.

When I hear "biweekly", I take that to mean every 2 weeks. That is not the same as twice a month. That's where some of my confusion with the original post comes in.