$500 Wasted!!

[disneymom3]

It's not like my checking account is off by $500. I do right everything down. That is how i know that we spent $500 on nothing. It turns out it was actually around $640 but I do alott $100 a month for us to spend on whatever. On paper our budget is very strict. It is just in practice that we have a problem. It's always like, oh one thing here or there. Also, whenever I have anything going on (good or bad, but mostly bad) I eat. A lot of that $500 is on going out to eat or grabbing dessert

We have the same problem. My goal is to track the money daily in Quicken. Again, that is my goal and actually I am installing it tonight, so wish me luck. Money sure goes out faster than it comes in!

 

[kfeuer]

Yep, I know what you mean.
I started to write every item I spent in May.
Found out that I have lots of unexpected spending.
Mainly because I don't remember when certain things are due, like insurances, AAA, etc. I pay those in lump sum, so some month I am so very over because I didn't count my $500 insurance...

A budgeting suggestion that has worked well for my family:

Sit down and add up all the bills that only come up quarterly annually, etc. (things like insurance, taxes, vet bills, garbage pickup, car/house maintenance, etc.). Add all these items up, then divide by 12. Then take this amount and have it automatically transferred into a savings account each month (some of the Internet banks are very convenient for this). When the bills come due, simply transfer the money back to checking.

 

[agotta]

I already have an ING account set up, albeit not too much money in there. We do plan on taking whatever we would have spent on rent and put it in there, and that can add up to a lot!!

 

[cseca]

A budgeting suggestion that has worked well for my family:

Sit down and add up all the bills that only come up quarterly annually, etc. (things like insurance, taxes, vet bills, garbage pickup, car/house maintenance, etc.). Add all these items up, then divide by 12. Then take this amount and have it automatically transferred into a savings account each month (some of the Internet banks are very convenient for this). When the bills come due, simply transfer the money back to checking.

Great idea! Thanks so much.
I did it the other way around.
I paid it off first and then transfer the $ into my savings. I like yours better...

 

[Chris]

A budgeting suggestion that has worked well for my family:

Sit down and add up all the bills that only come up quarterly annually, etc. (things like insurance, taxes, vet bills, garbage pickup, car/house maintenance, etc.). Add all these items up, then divide by 12. Then take this amount and have it automatically transferred into a savings account each month (some of the Internet banks are very convenient for this). When the bills come due, simply transfer the money back to checking.

Mine is very similiar, I write down EVERYTHING , including extra $ for b-day's , pizza, etc. <75.00> and then multiply by 12 months, then I divide it by 52 weeks so that each week I have to put X amount in or else the bills won't be paid.
I just redid it AGAIN!

 

[3DisneyKids]

Do NOT buy out your lease for 2K--that is totally unnecessary. Leases were meant to be broken. Seriously, find any decent lawyer and for maybe $300 - $400 he/she should be able to get you out of your lease (shouldn't take more than 2 billable hours). I'd rather pay the $400 than they $2k. Many lawyers offer free consultation, so it shouldn't cost a thing to ask around.

Hope this helps--

 

[SleepyatDVC]

Do NOT buy out your lease for 2K--that is totally unnecessary. Leases were meant to be broken. Seriously, find any decent lawyer and for maybe $300 - $400 he/she should be able to get you out of your lease (shouldn't take more than 2 billable hours). I'd rather pay the $400 than they $2k. Many lawyers offer free consultation, so it shouldn't cost a thing to ask around.

Hope this helps--

I don't agree with this.

However, I DO agree that what your buyout may be negotiable. If you have already spoken with you landlord and this was the agreed amount and you already agreed to it, I would just pay it.

If you have not spoken to you landlord or if you feel that your landlord would be willing to cut you a break, it doesn't hurt to ask.

It sounds like you just signed a lease for a NEW apartment and not just a renewal.

I sign new leases with our tenants for a minimum of one year. After the first year, I let all tenants break any renewal leases signed with a full security deposit refund (barring any damages) as long as they give me 30 days notice.

I have let some tenants break their first year lease before. Sometimes they need to move due to some unforseen cicumstances such as new jobs out of state or having to move closer to family (usually out of state) due to family illness, etc.

If they have been good tenants who have always paid their rent on time and they have lived here at least 9-10 months and their apartment is in good shape and they have always been honest with me, I usually refund their deposit too.

For shorter residencies, they would usually forfeit their one month's security deposit. Now if they are honest with me from the beginning and I know that the move is not intentional and was unforseen (NOT renter's remorse) and I know that the loss of the deposit will be a real hardship on them, AND they left the apartment in PRISTINE condition so that I did not have TO DO A SINGLE thing to paint/fix/touchup/etc. to the place to re-rent it, I have been known to refund the security deposit in those cases.

Now if they trashed the place, it would be a whole other story and I wouldn't let them off as easy.

However, not every landlord is or can be as easy as me. I run a big operation, so one vacancy won't break the bank. I can afford to be a nice guy sometimes. Some landlords only rent out a few apartments and actually rely on the rent income to be able to pay the mortgage/insurance/oil each month and one late payment, non-payment, or vacancy can literally put them in the red.

They may need the buy out amount for the lost time needed to touch up the place (as well as the manpower) before being able to re-rent the place.

The landlord may be willing to cut you a break in the buy out amount if you do ALL the painting or touchups and prep work before you move so that he can literally re-rent the apartment (assuming he can find someone) the second you give him the keys.

Good luck for your move. If it is the best decision for your life then do it.

 

[agotta]

When we were deciding whether or not to move we checked our leased and it stated that we would be responsible for paying 2 months worth of rent if we break. We are new tenants, just signed in July. DH contacted the office and she said we have 2 options

1) Pay the 2 months and are completely free of the lease
2)Give them 60 days notice and pay rent until they find someone to rent our apartment. But if they don't find anyone we could keep paying rent unti June 3006 and that defeats the whole purpose. I would normally do it, but being we hope to move out in November or December it is very risky.

Won't brining a lawyer in make it kinda dirty? I don't want to insult anyone. And if we signed the lease saying that we would be responsible for 2 months rent, what could a lawyer do?

 

[3DisneyKids]

DIdn't mean for it to sound dirty...I am a landlord with several rental properties, so you would think I would be on the side of the landlord here and say "you owe the 2k" but this seems extreme to even me.

That being said, I don't know how much your rent is...if your rent is $1500/mo, then 2K is reasonable for breaking a lease. It also depends on the rental market in your area...if there is a very likely reality that your place will sit empty for several month after you vacate, then that shoud be a factor as well. I guess I'm just jaded by our market in that there are people looking for rentals everywhere, so if someone breaks a lease, we don't penalize them (unless the place is trashed, of course) because we know will have it rented before they have finished packing.

As for lawyers...dirty? Sometimes, yes. Necessary? also sometimes yes. There are people who will try to nail you at every turn when it comes to money, and if you need a lawyer to protect your interests, then you should get one. But definitely see what you can work out FIRST before getting a lawyer.

 

[agotta]

No, I didn't mean to sound like I think lawyers are dirty. I just thought maybe unnecessary. We pay $1090 in rent a month and we would have to pay 2 months worth to get out. I would think they wouldn't have a problem renting it out. We are in the Northern Virginia area right outside of D.C. I guess the thought of them not being able to rent it and then us continually paying rent just scares me a bit

 

[ceecee]

Seems like if you signed it, you owe it. I don't see that hiring a lawyer would do any good. I think 2 months rent is reasonable. Pay it and start saving $ when you move in with your parents.

 

[lamb1022]

IOn paper our budget is very strict. It is just in practice that we have a problem. It's always like, oh one thing here or there.

AMEN! But with three children, it's always something - school supplies that weren't on the list, somebody's sneakers blew a gasket...I can't tell you how many times I've done the math and seen it's not going to work, but somehow, it always does. So we just keep on keepin on...

 

[drakethib]

Uggh! I hate budgets, but about 2 months ago I came up with one for DH and I to follow. Long story short we were behind on a couple bills and just recently caught up. In the budget, DH and I are allowed $100 of Free Spending money a month. That is $100 for the both, not each. Well everyweek I track our spending and then I do monthly. So I just finished augusts and there was $500 in "extras". It makes me so mad. I go through all this hard work and somehow we spend $500 in CRAP! Sorry, just had to vent.

Happens to the best of us.