Getting Out of Debt, Jan Edition - Page 3

[MyTwoAs]

Originally Posted by Sarah8Jane

This number is probably influenced by the fact that it's based on 1.3 wage earners. DR's number is per wage earner.

I think that's interesting that the average consumer unit is 1.3 earners. The average household in my area has 1.7 earners.

Ahh yes, that makes sense, thank you. Where do you see the average household earner in your area? I'd like to check out my area's stats.

[Sarah8Jane]

I'm not sure they have local stats associated with this study. The number (1.7) that I quoted was provided by my state's DOL for a cost of living analysis and housing affordability study.

[akichan]

Still here, still plugging away at BS3 although like a PP, I'm not contributing to my life insurance right now either - I'm trying to make a case that stbx has to pay for it or alimony since I honestly can't afford the premium because right now I'm living solely off child support. My financial advisor also told me not to start a new business right now - I don't have any debt, but I'd have to borrow against my FFEF savings. Also, if I do start it now, stbx would have claim to 1/2 my earnings, I think, although I expect to operate at a loss for at least the first 2 years.

So much to think about and consider. BUT, I did my big budget for the year and it looks pretty good. Not in the black, but not too much in the red, either. Anyone else have that problem when they do their budget?

[eirual]

Originally Posted by akichan

I did my big budget for the year and it looks pretty good.

Wow, you're brave. That task (while great for goal-setting) sounds daunting and overwhelming to me!

[lalaland42]

Checking in. I am working on my monthly budget and doing pretty well at that. I also calculated how much extra debt we accumulated from the move : and am not too pleased. Oh well, we had to move for work so what can a person do?

My other project for the next couple of months is to reduce our grocery bill. Right now we are spending a lot on groceries. Part of it is the high cost and part is not knowing where to shop or what to buy. I also need to buy a crockpot and small food processor. Unfortunately the Swiss don't use crockpots so they are scarce and expensive. Hopefully once I locate one, it will help reduce costs.

[mtm]

Originally Posted by eirual

Wow, you're brave. That task (while great for goal-setting) sounds daunting and overwhelming to me!

eirual, what I do for my annual budget is take the expenses that occur quarterly or at odd intervals and make sure they are accounted for and then use my regular monthly budget with slight adjustments. January for instance is a fairly normal month with a kid birthday tacked on. March is a kid birthday and the first of my property tax installments and spring/summer program registration for the kids. That way I can plan ahead.

[mtm]

Originally Posted by akichan

So much to think about and consider. BUT, I did my big budget for the year and it looks pretty good. Not in the black, but not too much in the red, either. Anyone else have that problem when they do their budget?

not that problem, more the frittering away of little bits of money that the budget says I should have left over

[eirual]

Originally Posted by lalaland42

I also need to buy a crockpot and small food processor. Unfortunately the Swiss don't use crockpots so they are scarce and expensive. Hopefully once I locate one, it will help reduce costs.

I totally get how a small gadget can sometimes make the world of a difference and even be motivating, but don't let not having one stop you from preparing certain meals. Anything you can do in a crockpot you can also do in just a pot! Think outside the box and start doing what you want to do now, it doesn't have to wait until you have one!

Would you like help on trimming your grocery budget or is that something you have to do for yourself?

[akichan]

I used the Economides (America's Cheapest Family) way of budgeting using the method of dividing ALL expenses for the year into saving for 12 months. This means that I have about 15 different "accounts", however, I haven't figured out exactly how to make that match with my checkbook and "ACTUAL cash" yet. Maybe I need an actual spreadsheet software system, not one I made myself? And for this year I think I'll have to pull some out of my savings to cover irregular expenses and then pay each account back as the savings add up, I guess. I can't afford to start now and divide only by the number of months until the expense, kwim? i'm going to check out some other systems on llnoe and keep tweaking my system, but doing the big budget has already helped a TON.

[canuckgal]

Originally Posted by akichan

I used the Economides (America's Cheapest Family) way of budgeting using the method of dividing ALL expenses for the year into saving for 12 months. This means that I have about 15 different "accounts", however, I haven't figured out exactly how to make that match with my checkbook and "ACTUAL cash" yet. Maybe I need an actual spreadsheet software system, not one I made myself? And for this year I think I'll have to pull some out of my savings to cover irregular expenses and then pay each account back as the savings add up, I guess. I can't afford to start now and divide only by the number of months until the expense, kwim? i'm going to check out some other systems on llnoe and keep tweaking my system, but doing the big budget has already helped a TON.

You might like this, it is what I use and I love it

http://www.budgetmap.com

you can see at any given moment with X balance in the bank what is designated in each category and if you can afford to make a purchase for example

[lalaland42]

Originally Posted by eirual

I totally get how a small gadget can sometimes make the world of a difference and even be motivating, but don't let not having one stop you from preparing certain meals. Anything you can do in a crockpot you can also do in just a pot! Think outside the box and start doing what you want to do now, it doesn't have to wait until you have one!

Would you like help on trimming your grocery budget or is that something you have to do for yourself?

You are right of course. I was bitter when I posted because I just got back from an epic shopping trip for a 9 month pregnant woman. I had seen a crockpot at one store in the city but I wanted to hold off until I could see if I could find one with a timer. In the mean time, someone posted to an expat forum that you could get crockpots for < $100 so they were all snatched up. I was hoping DH could use it to make soup while I am recovering. Oh well.

Sadly most of my go-to recipes have become expensive post-move so I'd love some help trimming the food budget. I think it will have to wait until after the baby is born (due Wed) though.

[_ktg_]

Originally Posted by akichan

I used the Economides (America's Cheapest Family) way of budgeting using the method of dividing ALL expenses for the year into saving for 12 months. This means that I have about 15 different "accounts", however, I haven't figured out exactly how to make that match with my checkbook and "ACTUAL cash" yet. Maybe I need an actual spreadsheet software system, not one I made myself? And for this year I think I'll have to pull some out of my savings to cover irregular expenses and then pay each account back as the savings add up, I guess. I can't afford to start now and divide only by the number of months until the expense, kwim? i'm going to check out some other systems on llnoe and keep tweaking my system, but doing the big budget has already helped a TON.

We do this "multiple" accounts too!! DH thought I was crazy when I suggested it

Do you work with all cash for things like gas, groceries, target, blow $? And pay bills via check or online? We learned quickly we couldn't straddle doing both (keeping cash & using a card) for the gas, groceries, target, blow $. We ended up only cash and then if we had to use the debit card or a CC we used it and then on our spreadsheet/budget - we'd record the expense and indicate which "account" the $ was to be transferred from. I'll can ask DH to send me a blank copy of our budget if would like to see how we've set it up?

[_ktg_]

Originally Posted by lalaland42

You are right of course. I was bitter when I posted because I just got back from an epic shopping trip for a 9 month pregnant woman. I had seen a crockpot at one store in the city but I wanted to hold off until I could see if I could find one with a timer. In the mean time, someone posted to an expat forum that you could get crockpots for < $100 so they were all snatched up. I was hoping DH could use it to make soup while I am recovering. Oh well.

Sadly most of my go-to recipes have become expensive post-move so I'd love some help trimming the food budget. I think it will have to wait until after the baby is born (due Wed) though.

Oh my goodness!! that much for a crockpot. I wonder if its just cheaper for someone stateside to just send you one?

[lalaland42]

Sadly the plug and voltage are different here. I have a nice crockpot in storage in the states just waiting for me to come back to it. I think I'll send DH to see if he can get the store to order more. If not, I will go shopping in Germany after the baby is born. Things are cheaper in Germany.

[sweetjasmine]

lalaland, I am so envious of you! My mother was German and we lived there for a few years when I was a kid. My dad was in the Air Force so we lived on base but we'd visit German relatives as often as we could. Wish I could go back! And you live in Switzerland, goodness, that must be beautiful!

[applecider]

Oops! I posted this in the Gazelle thread. I meant to post it here! Maybe I should stick to one thread, simplify a bit


I dropped $400 to savings today. That is my goal each payday. We'll see if I can squeeze some more out though. I started going back over my expenses for the last few months and just gave up. I was trying to do cash only, but failed sometimes so I really have no idea how much I actually spent on groceries or each category. I think I may just do the debit card again, because it is so much easier to track where the money goes. Maybe we'll just do cash for our fun money.

Oh, I've also been doing the homecooking challenge and so far, it has been awesome! I'm really liking it and have not gone out to eat, or been tempted yet. Usually the only time I want to go out to eat is when I can't think of anything for dinner.

[eirual]

cody's mama, just be careful with that plastic!

For me, I find it easiest to go a few dollars over on groceries if I'm using debit, whereas if I have cash, I HAVE to put something back to make it work. Sometimes those few dollars can turn into 30 if I'm shopping on a bad day. Plastic can be too easy to use in a pinch. Your priorities can shift in the moment and you can easily loose sight of your end goal or allow a little too much wiggle room.

How far into your cash-only journey are you? Be gentle with yourself! Even if you're off by $75 at the end of the month, at least that's only $75 that got ahead of you, not $400 that drifted away. You can always re-sort the cash system- play around with categories, see where you want/need more, what not's moving through the month, etc.

[applecider]

See, what happens, is I steal the cash$$ from another category. I guess maybe I shouldn't keep all my cash together (I have it in a coupon organizer). I suppose I should JUST bring the grocery $$ and leave the rest at home (or in the car). Maybe I"ll try that next month. Plus we get paid bi-weekly so it doesn't really work to get ALL the cash out ON the first. So I'm kind of doing a two-week thing. And I guess we do need to rethink the budget once in a while. I'm going off of what our budget was I think two years ago. For one, we've had a major increase in income, two, we have another kid, three, I'm not in school and four, our oldest is, well, older .

On another note, we're going out to dinner tonight with a gift card to a fancy restaurant, sans kids!

[lalaland42]

cody'smomma - I use separate envelopes and put them in a drawer in my kitchen. It takes a little more planning so if I want to get groceries I have to deliberately take money from the envelope but it did help with spending that way.

sweetjasmine - it is beautiful but we moved when I was already 5 months pregnant so I haven't seen that much of it. We moved from Dallas too so any hill bigger than a fire ant hill is beautiful to me.

[lalaland42]

I just logged into one of my student loan holder's website and I got a 1% principal rebate for paying on time last year. That is another $200 I don't have to come up with sometime between now and 2018 when my loans are supposed to be paid off (if I pay the minimum).