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    #91
    fully agree there is room in the budget to pay off debt. But do you want to be debt free?
    LivingAlmostLarge Blog

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      #92
      We had debts for many years at the start of our marriage almost 14 years ago (car loans, home equity, and parents loans). Once we realize we needed to get out of debt, we simply made our mind up and became intentional. Once we got rid of our debt, except our mortgage, we began to save a lot more $$ now (maxed our 401K and ROTH).That's when things got better. We created a budget and stick to it every month. We fought less about money now.
      Got debt?
      www.mo-moneyman.com

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        #93
        Originally posted by LivingAlmostLarge View Post
        fully agree there is room in the budget to pay off debt. But do you want to be debt free?
        Of course

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          #94
          Originally posted by Radiohead1 View Post
          Of course
          If so, then cut the fat out of the budget and make it happen. I will repeat that you have plenty of money available to do so. Now you need to do it.
          Steve

          * Despite the high cost of living, it remains very popular.
          * Why should I pay for my daughter's education when she already knows everything?
          * There are no shortcuts to anywhere worth going.

          Comment


            #95
            Originally posted by disneysteve View Post
            If so, then cut the fat out of the budget and make it happen. I will repeat that you have plenty of money available to do so. Now you need to do it.
            Can you re-identify the "fat" for me?

            Comment


              #96
              Originally posted by Radiohead1 View Post
              Can you re-identify the "fat" for me?
              You'll have to figure that out for yourself.

              Spend a month writing down every single penny that you spend and find out where the money is going. Then, you can make cuts.
              Brian

              Comment


                #97
                Originally posted by bjl584 View Post
                You'll have to figure that out for yourself.

                Spend a month writing down every single penny that you spend and find out where the money is going. Then, you can make cuts.
                There are no cuts to be made.

                The fact is the budgeted "extras" (or fat as it was called) was eaten up by $3,784 in doctor's bills and $2,237 in car repairs. I track my spending in mint.com. I can see down to the cent where mo ey is going.

                There is no "fat" in the budget. I guess it was misallocated in the budget, but that's about it.

                Comment


                  #98
                  Originally posted by Radiohead1 View Post
                  There is no "fat" in the budget. I guess it was misallocated in the budget, but that's about it.
                  All of my advice has been based on the numbers you've given us. If those numbers aren't accurate, that's a different story.

                  Here's what I posted above:
                  $200/month estimated reduction in food spending
                  $100/month Christmas saving
                  $80/month clothing
                  $40/month haircuts
                  $20/month allowance
                  $40/month miscellaneous
                  $14/month Netflix
                  $26/month Sling
                  $20/month gym

                  If none of these expenses actually exist then perhaps there is no fat in the budget. Post a true budget and we can take a fresh look.
                  Steve

                  * Despite the high cost of living, it remains very popular.
                  * Why should I pay for my daughter's education when she already knows everything?
                  * There are no shortcuts to anywhere worth going.

                  Comment


                    #99
                    Originally posted by disneysteve View Post
                    All of my advice has been based on the numbers you've given us. If those numbers aren't accurate, that's a different story.

                    Here's what I posted above:
                    $200/month estimated reduction in food spending
                    $100/month Christmas saving
                    $80/month clothing
                    $40/month haircuts
                    $20/month allowance
                    $40/month miscellaneous
                    $14/month Netflix
                    $26/month Sling
                    $20/month gym

                    If none of these expenses actually exist then perhaps there is no fat in the budget. Post a true budget and we can take a fresh look.
                    Here is the budget. A resultant 2017 budget is far left.
                    Attached Files

                    Comment


                      What sorts of things come out of Allowance and Misc?

                      How does your wife stopping working lower your car repairs or your doctor bills? You reduced those two categories by $335. Is that realistic?

                      You don't need ID theft insurance.

                      Are you locked into a contract with the gym?

                      I think you mentioned potentially being able to boost your income by about 12K, so $1,000/month. I don't see that reflected here. After taxes, without any other cuts, that would pretty much fix your problem. That still wouldn't give much surplus but it would at least balance the budget if your wife quite working.

                      If you can start bringing in the income ASAP, the longer you can do it before she stops work the better.
                      Steve

                      * Despite the high cost of living, it remains very popular.
                      * Why should I pay for my daughter's education when she already knows everything?
                      * There are no shortcuts to anywhere worth going.

                      Comment


                        Have you checked into cheaper cell phone service? $135 seems awfully high. Plus you are showing almost $50 for internet. But if you don't have a job related business for it, have you investigated cheaper internet services as well?
                        Gailete
                        http://www.MoonwishesSewingandCrafts.com

                        Comment


                          Originally posted by Radiohead1 View Post
                          There are no cuts to be made.

                          The fact is the budgeted "extras" (or fat as it was called) was eaten up by $3,784 in doctor's bills and $2,237 in car repairs. I track my spending in mint.com. I can see down to the cent where mo ey is going.

                          There is no "fat" in the budget. I guess it was misallocated in the budget, but that's about it.
                          Nothing? Nothing at all? Not one dollar?
                          I have a hard time believing that.
                          There is always a way if you want it bad enough.
                          Get creative. Take a good hard look at everything.
                          Sometimes it might be easier to just make more money. Pick up side work, sell unwanted items, do odd jobs, be as creative as you can. The possibilities are endless.
                          Brian

                          Comment


                            Originally posted by disneysteve View Post
                            What sorts of things come out of Allowance and Misc?

                            How does your wife stopping working lower your car repairs or your doctor bills? You reduced those two categories by $335. Is that realistic?

                            You don't need ID theft insurance.

                            Are you locked into a contract with the gym?

                            I think you mentioned potentially being able to boost your income by about 12K, so $1,000/month. I don't see that reflected here. After taxes, without any other cuts, that would pretty much fix your problem. That still wouldn't give much surplus but it would at least balance the budget if your wife quite working.

                            If you can start bringing in the income ASAP, the longer you can do it before she stops work the better.
                            Allowance is for the kids for doing their chores. Misc. is anything that comes up during the month that isn't budgeted. Mostly that goes to something having to do with the kids. Usually a school activity or field trip that the school extorts money out of you for.

                            No it's not realistic to take money out of car repairs or doctor's bills unless I am able to hit my deductible before may when our income is reduced.

                            I am not locked into the gym. It is $10 for each of us and this is probably the only thing I get enjoyment from and relieves stress (I have bipolar and anxiety).

                            I just had to decline an offer of $62k because it was out of state and we don't have the resources to relocate right now. That was the $12k. I will need to find a job that I can earn $1k a month part time.

                            Comment


                              Allowance is for the kids for doing their chores
                              Allowances like that are for kids with wealthier parents. Chores are part of living within a family. I know during my growing up years, I sure did more ‘chores’ than most people my current age range. By the time I graduated HS, I could have single handedly run a household, from cooking and cleaning to budgeting. Which tells you I was doing some heavy duty ‘chores’ along with school and school work. I sure never got an allowance and neither did my kids. It was hard enough to put food on the table. Granted not something that the kids would want to lose, but if a family is at make it or break it time financially, that is when things like allowances go by the wayside. Kids need to understand.

                              It is $10 for each of us and this is probably the only thing I get enjoyment from and relieves stress (I have bipolar and anxiety).
                              Your mention of this, just goes on to further show that you are not in perfect health. You have some major problems physically. I can see why it is so important for you to have adequate health insurance coverage. On the healthcare forum, you seem to indicate you have ACA insurance, but the premise of this whole discussion has been about your wife carrying health care at $1000/month for all of you. Perhaps because I don't work out and hubby is self-employed, that I don't understand. Is she getting ACA through her job and it is running $1000 for 4 of you? What would it be when you add the new baby into the mix?

                              But in all your budgets that we have seen, not one shows anything for the expenses that will come along with the newborn. While you have things in your budget, that wouldn't have been in mine in the first place, you don't want to get rid of them. What have you done towards getting another job? Have you lowered your W4 yet? Once the baby comes even if only alive for 5 minutes you can use it as a deduction for the whole year I believe, and I certainly don't wish that on you folks or the child. I love children. Just trying to show that there is NO reason to not make the adjustment in your checks now, to account for both the baby AND to get rid of enough withholding so that your tax refunds will be minimal, which will give you more money to deal with your finances on a weekly/monthly basis or however often you two get paid. Your wife needs to adjust her W4 at work as well.

                              I am sure however that you will have a reason that you can't be doing that. I think that is what frustrates some of us. For the most part you refuse to acknowledge that you can do anything about your problems. It has been over 2 weeks since you first posted, but I can’t recall that you have actually done anything to help fix the problems you are having. I apologize if I missed it. I think unless you want some advice from someone that has walked a worse financial ground than you are in, I'm basically done with this discussion. I hope things get better, somehow, for your family. I really do.
                              Gailete
                              http://www.MoonwishesSewingandCrafts.com

                              Comment


                                Originally posted by Gailete View Post
                                I am sure however that you will have a reason that you can't be doing that. I think that is what frustrates some of us. For the most part you refuse to acknowledge that you can do anything about your problems. It has been over 2 weeks since you first posted, but I can’t recall that you have actually done anything to help fix the problems you are having. I apologize if I missed it. I think unless you want some advice from someone that has walked a worse financial ground than you are in, I'm basically done with this discussion. I hope things get better, somehow, for your family. I really do.
                                Gailete, you beat me to this. I was going to post pretty much the same thing.

                                OP, every time you post, your story and your numbers change a little. The budget you posted last night is different than the one you posted a few days ago. Then you posted that you had a job offer out of state for 57K but now say it was for 62K (which could affect how we all answered your question). And every time any of us make a suggestion to trim expenses, you come back with some excuse about why you can't do that.

                                I'm done here too. Good luck with the new baby and figuring it all out financially.
                                Steve

                                * Despite the high cost of living, it remains very popular.
                                * Why should I pay for my daughter's education when she already knows everything?
                                * There are no shortcuts to anywhere worth going.

                                Comment

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