How To Stop Living From Paycheck To Paycheck

spread your income as follows...
pay yourself first 20%
save 10%
Pay you bills 70%

Thank you for the input!I try to save but somehow I always come into a loop hole of paying something off and then have to keep paying more and more bills.It never fails all the time it always happens like that the more and more I dush out the more and more I go behind with bills!

Hi ch:

I can suggest you some more techniques that might help you. I have tried this policy and it helped me a lot.

• Try to differentiate your wants and your needs.
  
  
• There are some fixed and floating expenses - prioritize them accordingly.
  
  
• Control the temptation of using credit cards and having payday loans.
  
  
• Keep some part of your earning aside every month, treat saving as an urgent expenditure. Try not to touch this amount unless you don't have any other option.
  
  
• Prepare your own budget and stick to it at any cost.

I think that is a good plan but it is so hard I get so tempted to spend you know!But I am gonna try that to see if I can stay on a income budget I will keep you posted bryan and let you know how it works out okay!But that is a very good point the only way I can save is if I don't see the money in my face maybe I can just keep all my money in the bank and try to save that way!

Ch, all you need is a proper budgeting. A better financial management is the key to solve all your financial problems.

You are having tough times just because you are lacking management in it.

Let me exemplify, if you love to cook food, and if you know the art of cooking nicely, it will be appreciated by all. But, if you are cooking without any interest, you will be the only one to criticize first.

It's all management, my dear!! You will be able to master this art very soon only if you have interest towards it.

Regards
Roxette

Thanks Roxette,
I know I have a bad time to manage money because if I have it I will spend it,and when its gone I am always looking dumb founded in the face!I try to see where I spent my money and then when I calculate it all up it was on stuff I really didn't need!But I think I am starting to get the hang of it budgeting money instead of sopending it on nonsense!

It's hard, I know, because it seems that bills are due right around the time of your paycheck. Tony hit the nail on the head...the Pay Yourself First rule. Can't beat it. And it works!

My bad money habit is eating fast food often....that stuff adds up!

Hey Lindsey, I also love to eat fast food...same choice here. But I make it a point to do it once at the beginning of the month in a prodigal way. Rest of the month, I tie myself.

I know I love to eat fast food I have groceries here in my home but I love to eat out all the time.But if I can control that habit from eating fast food most of the time then I can try to save some money!!!!!!!!

It takes will power. Fast food is convenient: it's fast, it's good, it's always there and you don't have to make it. But it's also unhealthy, and expensive.
The best advice is to buy foods from the grocery store that you like and try your best to pass up the fast food. In the long run, you'll gain money and lose some weight 8)

Most important thing is that we should separate our ???need' from our ???want'. Once we understand the difference, I think, we can manage our budget in a better way. I do agree that it's hard, but let's start it from today; I am sure all of us can do it.

Yea....as in I don't need that new Prada handbag...or the Versace winter coat...or the new Monolo Blahniks.
Ah well. I've definitely sacrified a lot of "wants" over the past year...it's depressing, but hey, I'm still alive! :D And that's all that matters

Lindsey, you like branded stuff. Ain't you?

I also get something branded for myself but, very rarely. I know that it looks nice and also realize that we have to pay something on things that are beautiful. So, I try to resist myself.

LOL! Actually, I'm not too much into brands...if a shirt or a pair of shoes is cute, I'll buy it regardless of brand. But of course, sometimes it's nice to show off that Burberry coat to your friends. I actually moreso enjoy shopping at thrift shops, where you can find cheap, yet one-of-a-kind garments.

[quote=Lindsey] it's nice to show off that Burberry coat to your friends[/quote]

I can feel this statement in depth :D

Me I use to be into all of those name brand clothes and stuff my kids would be in the freshes gear there was tommy,polo,g-unit,phat farm and so on and so fourth but hey I look at it like this if there shoes are name brand thats all that matters cause now we shop at walmart and things like that but ross has good sales on name brand items as well!but hey if our outfits are cute and cheap thats all that matters and the shoes are name brand we good to go!

I actually like a lot of vintage clothing. I'll mix and match name brand stuff with a shirt that I thought was totally gotta get for $3. Actually a friend gave it to me after I said I liked it and then told me he got it at a vintage store for $3.

I find also putting aside as much as possible into a savings and just not ever touching it. My credit union actually has another savings program that is called holiday savings. You can put it in there automatically through your payroll (usually they can split it up into percentages...10% into holiday 20% into reg savings and 70% into checking). Anyway what I like about my holiday savings is that you cannot touch it period till the first week of November.

Food I think is where most of us get bit in the rear. We'll buy things that aren't really necessary...or things that we could actually get cheaper.

Another way to save is to start a change bin. Maybe if you could find one of those empty water cooler thigns and just put your change in there at the end of each day. Of course...keep whatever you need in the ashtray of your car. But I have a friend that takes vacations each year off their change.

-Mike

There are quite a few stores that will allow you to sell your clothing to them. Then you can turn around and use the money for more clothes or whatever.

Every year I keep telling myself that I am going to start a holiday savings account and I never do. But like Mikey said, that is an excellent idea. Then you are strapped when the holidays come around and you would actually be amazed at how much you have actually saved.

Speaking of the holidays I have to start saving money up myself for the holidays cause it is right around the corner!

I have bought some name brand clothes for my kids on ebay.Sometimes you find pretty good deals.I havnt had the money lately,but it you look for lots in a certain size sometimes you can get alot of clothes for cheap.
Wow,Im reading all these post,and I just realized that I havent had fast food in months.Even Mickie Ds sounds good right now.Im not really a person who wants stuff,when I did have extra money,I always spent it on my kids.When they are happy,I am happy.When they are all grownup,maybe then I will treat myself to something,but right now. other than being out of debt,I can think of anything I want. :)

I know exactly what you mean twokidtwocat. Whenever I go to the store to get something for myself, I wind up spending money on the kids and not getting what I needed. Luckily with mine, clothes are not an issue because I have three girls.

Me myself I love name brand items but if I cannot afford things I just go without ask my sis. she'll tell you I use to be the one buying that stuff all the time but now that I realize I can't afford it I just do without!

Ha---I am so glad I am out of high school. It use to be such a big thing. I think now, however, if I were in high school again....the few name brand items I have...and the mixutre of clothes---the vintage items I have, would make some great "outfits". I'm finding myself liking a lot of the old clothing styles. Even this polyester shirt I fould at a vintage store for $3. It looked brand new, and I swear I wore it all the time this summer (even though polyester can't breathe).

Another way to save, is to start buying the stores brand vegetables and other items....mouthwash, corn, tomotao sauce, cereal. Come 3 months down the road---you'll find yourself saving at least $50....if you do grocery shopping as much as I do.

Not only that, you could invest in the nicotene gum. If you're not ready to quit yet...that gum will save you money when you chew it during work. You'll stop smoking the 10 cigarettes during the work day and save them for at home. Saving (maybe) a few bucks, instead of buying a new pack every day.

Go back to regular tv, and start renting movies. But if you can't live without Sophia from The Golden Girls, you might want to ask about keeping basic cable.

Another program out there, that is NOT known to the public is per call dialing. This is a set number of out going calls allowed on your phone. All incoming calls are free. You'll get 60 calls of LOCAL ONLY (no metro calling), for under $30. At least this is what it is in Michigan. Last time I checked it was $15 plus tax. But you have to ask for the cheapest program. They don't usually advertise these programs.

If you have AOL...they have surverys you can take once a week and they'll give 4 hours credit, or basically knock off what they'd charge for 4 hours pay. You can take up to 10 surveys a month.

I use to donate plasma back in the day. This was when I was really in rut, because I smoked and wanted to go out. I didn't work, and my mother didn't support my "going out and drinking/smoking" habit. Donating plasma is basically the white blood cells and pays up to $25 per visit (2 visits a week allowed). Although I do no recommend this for extended periods of time....this could be a way to get food on the table.

Checking with your local Family Indendance Agency will also get your help. You'll be surpised on how much food credit you can get. With an income of about $1100 you can get about $300 a month. I think $1300 a was $200 a month... but of course this was in Oklahoma City...and this was for 1-2 people.

There are alot more resources out there, that alot of people are either afraid to inquire about, or think they won't qualify. Trust me...no matter how much you make---it doesn't hurt to apply for help. The least you can be told -is you only qualify for $50 a month for 3 months. I've heard this story...and I'm like "well hun...that's $150 you didn't have." Plus the food you buy with FIA is tax free. (Oklahoma was taxed on their food.)

And remember pets, and family items should be kept that way. Pets and family items. Don't put the pets up for adoption or pawn items. You'll regret it in the long run!

-Mike

LOL mikey! I actually have what I call the "Poor Box." It's a shoe box where I store all my loose change...and it's come in handy! When I'm in desperate need of money, I take the coins to a coin machine and get the cash.

I'll stop short of chopping of limbs and selling them on eBay, but there really is a lot you can do to make extra money!

I managed to squeeze in a second job as a pet sitter, and I love it! I make money to walk dogs and it's rewarding for so many reasons!

Everyone may be interested to know that the Topic of the Week is very simliar to this topic.
http://forums.debtcc.com/topicoftheweek.html

I love shopping at thrift shops as well. My biggest thrill is bringing home a real bargain. I needed a new set of dishes desperately. I shopped everywhere but was not willing to pay the prices I saw. Tah-Dah...I found a full 4 place setting of heavy duty dishes including dinnerplate, dessert plate, coffe mug, glasses, soup bowls and utensils for 11.00 at Walmart on clearance. I bought 2 sets for 22.00....now of course I saw the same set "rolled back" to 7.00. Now that's a pisser!! : )

oh wow!

$7.00 is like a big bargain! It's good to have those even for gifts sometimes...housewarming gift, or parents (grandparents), etc...

-Mike

The neat thing about thrift shops is that it isn't just clothes, you can find. There's literally EVERYTHING.
Stores likes K-mart, Target, Wal-Mart, Rugged Warehouse have a lot of household products at really cheap prices. Some people just refuse to shop at those places because they're considered "cheap stores." But I maintain the mentality that if the product does what it's made for---like a cup holding a beverage--then there's no reason not to buy it over anything more expensive.

Those vintage pieces you can find too...are so cool looking. You can really find some retro, or trendy, or even antique looking items at thrift stores, garage sales...

I have some nice pieces (about 3 full sets) of different plate settings and tea cups.

My biggest complaint would have to be the milk and cheeese prices though....haha!

I have tried to apply for all the different programs out that are here in florida, and I have been told that I make too much money. This is for a family of four (myself and three kids). The cutoff for most things is like 28000 a year. I had to shorten my hours at work in order to qualify for subsidized child care.

I try to go to thrift shops as much as I can or I shop when there are buy one get one sales.

The Goodwill stores also have cool deals on stuff too!Plus some of the stuff that they sell are brand spanking new still in boxes and they have brand new clothes that no one has ever worn before too!

Brand names..accckkkk...I can't remember the last time I shopped at Nordstrom's. Most of the time it's thrift stores now..which I have come to love, because where I'm at, there is a LOT of brand name clothing there. I discovered them one day when I was taking a couple of my kids for a visit and we were early.. it was around christmas time and so I told them let's just go in and look. They each bought their mom's a beautiful set of dishes for next to nothing!! It was a whole new way of life, great stuff, next to nothing prices.
Also...for those that would like a deal on their wants OR needs..www.craigslist.org is a fantastic place. I got a really nice Cal Spa for free (took a lot of work to get it but I did it!!)and a 6,000 vinyl pool for next to nothing. I'm in a very small town so in order to be able to get anything have to make a long drive. So even the free stuff I'm careful to only get what I REALLY need or want..
And, what if 100% of your income goes to bills? Would you just keep it at that until things got paid off and then use that formula? Or are you meaning don't let your expenses go above 70% of your income? I've never had to budget in the past, but it looks like I'll be on a pretty fixed income now so I'll have to start...

MsMistchf

You're right about craigslist. Sometimes you can even find free furniture on there. It's a neat site.

Mike

Oh yes Mike..I now sleep on a king size waveless waterbed that I got for FREE!! My new dishwasher was free...and my Powerhouse workout gym was free!! And it's all really really nice stuff. The dishwasher came out of a brand new home and the people changed it because they didn't like the color!! It's something that you can just pop in every now and then and if you find a great thing grab it..or if you have a specific need, just try to check it every now and again and eventually someone will be giving away what you want. Or if there is something you really need... people sell for cheap also. If you have to pay for it anyways, mays well get a good deal!!
Happy shopping!!

Rhonda,I know what you mean about making to much for those programs.I have always worked and thankfully have never been unemployed,but Im still living paycheck to paycheck.There is no help for those of us who make above thier cutoff,but for those who make below the cutoff amount,there is free childcare,free school,foodstamps,healthcare,but many dont take advantage of these programs.I have known people from work who have used these programs,and the funny thing is even though I make alot more than they do,they have more money left than I do when payday comes around.Im proud to say,I have never had to use these programs,but I do pay for them with my taxes,and anyone who can should use them,and should apply for everything they quailfy for.If I could have received help with school,I would have done it in a heartbeat.I would have loved to have finished college,but it wasnt in my stars.

Hmmmmm...wish I knew how to use this site better twokidtwocat...there's a star out there for you somewhere if you want to go to school, I'd have posted it here somewhere but don't know how!! A friend of my just got her BA...at 69!! I hope once your debts are under control you find yours...

My girlfriend and I's problem is that when we finally catch up with our bills for the month and are able to spend some money....WE SPEND IT ALL. Then we have trouble buying food and gas the next week. Ugh...it is so hard to get disciplined.

It may be hard to be disciplined but its never impossible. And this improvement will always be for better reasons.

Shopping is my therapy and that is why I am in so much credit card debt. I think it may have been cheaper to go to therapy ha ha ha. No, I'm fine but I miss going shopping for clothes all the time. Now I am trying to catch up on bills and clothes shopping has become a thing of the past :(

Have a good one!
-Sarah

Hi Sarah,
And Welcome to the forums!You kinda sound like me because thats how I am or let me rephrase that how I use to be but like you said thats a thing in the past for me!The only difference between us is that you used charge and I used cash LOL! :D oh well those were the old days huh?It was fun why it lasted now it is time to catch up on bills and make sure we can have Happy Holidays! :P

yeah i definately charged a LOT of things...christmas presents galore :) I wish I knew then what I know now!