I don't get it, not even a little bit.

[Jay2009]

Ok, so i'm going to go on the record and say budgeting and saving seems like some foreign concept that is as difficult to learn as molecular biology. Some people are wired that way and I am not one of those people who have a wonderful understanding of how budgeting works, or how to do it (molecular biology either, for that matter.)

I didn't have great role models in my parents, they did the best they could, but there was never anything really saved, the money came in on thursday and lasted through the following wednesday, rinse and repeat.

But now I'm trying to break the 'in one hand out the other' cycle and i just don't understand how to get there. I have my expenses on an excel spreadsheet and I pay everything on time, but there never seems to be anything 'left' to build any kind of savings on top of.

And then I tried to do the CVS thing and roll extra care bucks and then I found out, I'm obviously doing that wrong, because I have two things of poligrip and a coupon for $2 back but to get that coupon I spent $5.

Maybe I should just get more comfortable living hand to mouth!

Thank you for listening to me freak out.

 

[MrandMissVacation]

Are you looking for support for your decision to not understand how to use budgeting or coupons to save money?
Are you looking for step by step guides to utilize CVS extra care bucks to your best advantage?

If you are content living paycheck to paycheck with no savings I doubt you will get much support here.

If your upcoming trip is 'budgeted' for there is your answer to the emergency fund/savings.

 

[vicki_c]

I'm really a big proponent of the You Need a Budget website and software. But even if you don't want to buy the software, they have some good information and videos and things on their website for free. And excellent message boards. I think that would be very helpful if you want to learn but don't know where to start.

 

[Jay2009]

I'm not content living that way that's why I've tried so many different things. I imagine that this is what chronic dieters go through, where they try a bunch of different things to varying degrees of success and in the end they have so many different strategies build into this frankenstein monster of attempted success and ultimately can't make the system run in unison to a desired result.

Any advice at all is welcome

 

[Jay2009]

I'm really a big proponent of the You Need a Budget website and software. But even if you don't want to buy the software, they have some good information and videos and things on their website for free. And excellent message boards. I think that would be very helpful if you want to learn but don't know where to start.

Thank you very much, I will definitely look into that!

 

[sydneysmom]

it doesn't happen overnight, but you really do have to do your research. One suggestion I would make is to get a book on budgeting, like Dave Ramsey's book. It'll give you guidance. Second...coupons are only beneficial if you are using them for products you actually use. If you don't use polygrip, then it's not a benefit to you even if it's free.

I started following the CVS thread here on the budget board.... once you read it for a few weeks and see what people are doing w/ their coupons and extra care bucks, you'll get the hang of it. You'll find that you can usually get toothpaste and deoderant and alot of other things YOU USE for free or close to it. but again, you weren't born knowing it and it's going to take some practice. Once you get going, it kind of becomes a game of "how much can I save vs. what I spend.

One thing I learned about couponing....save your coupons for when the item goes on sale to maximize your savings. I used to clip a coupon and go buy it no matter if it was on sale or not. that wasn't the smartest way to shop. I have found that if coupons come out, that item will generally go on sale at your supermarket or CVS / Walgreens / Rite Aid in the next week.

I also subscribed to daily emails from www.hip2save.com , www.thekrazycouponlady.com and www.dealseekingmom.com . all these sites give you "what's on sale" and if it's got a coupon....and gives you the matchups at all the stores. it's invaluable. Plus it gives you links to print off online coupons. they are my lifeline !!

Back to the budget.... if you can list out ALL of your bills....including utilities, gas, food, car insurance / payments, etc. then how much you bring home. Once you see everything all put on paper you can then see if you can cut back on something. Like cell service or cable....can you get a better deal ? Once you cut a little here and there, you have savings to start building.

Good luck, and don't be hard on yourself. We did the Dave Ramsey method and it took me about 6 months to get the hang of living on a budget. but it's WORTH IT !! it's freedom from debt and a wonderful way to live. Now, I can't imagine NOT living on a budget. Especially now when money has to be stretched within an inch of it's life....every penny counts. Give yourself time to learn this new way to live.. it'll be worth it.

 

[malibuconlee]

Well, you bring in "x" number of dollars a month. You spend "y" number of dollars a month. Hopefully x is more than y. If not you need to find a way to cut back.

Easiest way is to track every penny for a month. Get a receipt for everything. you need to figure out where the money is going. You have a good start with a spreadsheet, but it sounds like you might not be accounting for everything.

If X is greater than y you need to find ways to cut back.

If it's a matter of wasteful spending, then one way to look at it is making "saving" another "bill" you pay every month. Just to yourself.

Thankfully DH and I hit our financial bumps when we were young and before having our daughter. Now we set savings goals and as long as we meet those we don't worry too much about our other spending. We could definitely save more, but we could also be spending more than we do on big ticket items, but don't feel the need to do so. We both very much dislike debt.

Good luck!

 

[bumbershoot]

It took me and DH a long time to get it, too. I got it first, and had to convince hubby.

Got the Ramsey book from the library, and started reading livinglikenooneelse.com ravenously. It's a site based on Ramsey's stuff, and those people (many of whom are also on here, some with the same name, some with a different name) will NOT steer you wrong (and WILL tell you what you might be doing wrong).

It was helpful to follow a plan. Went from the first little step to the next to the next....

 

[RitaE]

Okay I get what you are saying. You are one of those people who spends down your paycheck to near $0 every 2 weeks, then you get paid again, repeat. You really don't know what you spend it all and you really don't like tracking every penny to figure it out.

Right?

So what you need to do is PAY YOURSELF FIRST.

See if your company offers a direct deposit savings plan and sign up for it. $50 or $100 a paycheck or whatever amount you decide. If not, set one up yourself at the bank -- every 2 weeks I want you to schedule a withdrawal from Checking to Savings of ... etc.

Don't touch the savings unless you absolutely have to and "I want to get a beer at the Sports Bar" is not a have to. Vacation is not a have to. My furnace just conked and the temps are in the 20's tonight is a have to.

In 6 months or so try to up your savings rate a bit. Do that every 6 to 12 months.

And just spend down the rest like always.

 

[jjsmom]

Baby steps. The first place that most of us started was with our food budget. It is very possible to trim your food budget by half or more and still eat well and healthy. It goes without saying that eating out is a budget killer. Cut it out as much as possible. Plan your meals around grocery store sales and items that you have on hand. Pack your lunch. Switch from sodas and bottled water to homemade tea and tap water. There are lots of great frugal eating websites with great recipes.
I too am a fan of Dave Ramsey. Also Larry Burkett (deceased, but you can still get his books at the library).

Once you have begun saving money on food, APPLY that extra cash to your highest interest bills (usually consumer debt like credit cards). Pay them off and do not use them anymore. Period.
Then, when those bills are paid, apply THAT money to another bill. At this point you should also put some cash away for an emergency fund.
I think you get the picture.
Let us know in a month how you're doing. Good luck!

 

[eliza61]

Ok, so i'm going to go on the record and say budgeting and saving seems like some foreign concept that is as difficult to learn as molecular biology. Some people are wired that way and I am not one of those people who have a wonderful understanding of how budgeting works, or how to do it (molecular biology either, for that matter.)

I
Thank you for listening to me freak out.

LOL, It's not molecular biology but it is a learned habit.

as previous poster have said, figure out exactly where you're money is going. I''d bet you'd be surprised where you find little leaks.

next, you need to get a clear handle on "needs" vs. wants. This was hard for me. since it seemed like I could "justify" almost all my purchases. Now I really analyze every thing I purchase. Ask yourself what would happen if you did not buy X for 72 hours.

When I started out, I used the envelope system. every cent was dedicated to a"envelope" and when that money was gone, it was gone. So if I had 75 bucks in my envelope for entertainment, when it was, that was it. no more party hardying. That made me really aware of every penny I spent.

 

[disneyofcourse]

Budgets are not easy to understand for many others. Heck look at my family! Terrible with money- Just terrible! They can't seem to balance anything. Many of my friends are also like this and just can't understand why money runs out days before the next paycheck.

Ok, so i'm going to go on the record and say budgeting and saving seems like some foreign concept that is as difficult to learn as molecular biology. Some people are wired that way and I am not one of those people who have a wonderful understanding of how budgeting works, or how to do it (molecular biology either, for that matter.)

I didn't have great role models in my parents, they did the best they could, but there was never anything really saved, the money came in on thursday and lasted through the following wednesday, rinse and repeat.

But now I'm trying to break the 'in one hand out the other' cycle and i just don't understand how to get there. I have my expenses on an excel spreadsheet and I pay everything on time, but there never seems to be anything 'left' to build any kind of savings on top of.

And then I tried to do the CVS thing and roll extra care bucks and then I found out, I'm obviously doing that wrong, because I have two things of poligrip and a coupon for $2 back but to get that coupon I spent $5.

Maybe I should just get more comfortable living hand to mouth!

Thank you for listening to me freak out.

 

[MEM]

Both of my parents were HORRIBLE with money. Yet, someone always bailed them out, either my maternal grandmother or paternal grandfather. I learned a long time ago that I have no one to bail me out, in fact, my parents owe me money I will never see. Therefore, I had to become frugal. It wasn't always easy and still isn't, but fortunately I am married to a very frugal man. I am the breadwinner and he is the SAHD. He pinches our pennies until they scream and consequently, we own a 14 room house with no mortgage in the HCOLA of Greater Boston plus we own three DVC contracts. Our car is also paid for.

I have learned to stop thinking of budgeting as deprivation and instead think of it as a game. I refuse to pay full price for anything and I despise wasting money.

 

[chris31997]

It takes practise. And it is a learned behavior. I am sure you will pick it up.

I second picking up a good budgeting book. One that will teach you how to do that. I like Dave Ramsey. You might be able to borrow one from your local library. You can even listen to him on the radio/online or on the tv

 

[mrodgers]

Sounds like your problem is the same as me.

X amount of money
Y amount of bills

X=Y

You are not going to be able to save like that.

Mine is worse.

X<Y

I can't save, not even for the stuff that I know needs to be paid.

People who have a lot of money always gives the same advice. Cut or increase income. That is the answer even if there is no way of doing either of those. Also they say sell sell sell.

I can't cut. I have no cell phones to cut out. I have no eating out to cut. I have nothing I spend money on except for bills. I get paid Friday at 9 am and when I get home at 4 pm the money is gone. I immediately fill both cars full of gas and do the bills. Money = $0.

That means the $100 I put into another account to pay car insurance and heating oil later ends up spent. My wife goes through 2 tanks of gas to get to work. One filled on payday, the 2nd has to come from the insurance money. The kids are bound to be sick and need medicine and/or often doctor visits. That comes from the money saved to pay for heating oil.

I have $310 insurance due and still haven't paid my last oil fill of $424.

Next comes I need 6 tires for the cars. They are as bald as a baby's behind. 2 tires for my wife's car comes tomorrow. No choice but to put $350 on a credit card (2 tires and a wheel alignment.) My tires came on the car and are high performance tires. Driving in the rain is like water skiing and snow I just forget about it. 2 bald in the front, 1 sitting in the garage that won't hold air any more and the spare on the car now. The other is good. 4 tires needed NOW. Monday I will be putting tires on it, probably about $550, again no choice but to put it on a credit card.

It's tough and there is no end to it. I don't see how I can put a stop to it other than go homeless because I have nothing to get rid of to sell for money.

 

[hsmamato2]

Ok, so i'm going to go on the record and say budgeting and saving seems like some foreign concept that is as difficult to learn as molecular biology.

what?
I'm sorry,but I don't know if I can believe this..... it's NOT molecular biology!
You make xxx.xx per month.
your bills (house,food,car,heat,lights) total xxx.xx per month.
Take first line xxx.xx
subtract second line xxx.xxx
xxx.xx
-xxx.xx
get it?
whatever you have left,is for extra items,and saving.
every month,every time.
if the 1st line isn't bigger than the 2nd,you need to adjust it till you spend LESS than you are MAKING.
After you do that, then you start to PLAN how you will spend your income.
this has nothing to do with CVS and free toothpaste,this has to do with spending less than you make.If you spend more than you make,then something needs adjusting,either make more,or spend less. it is extremely simple.
OP,Are you really asking how to get whatever you want,whenever,without having to worry about these little details?

 

[njmom47]

So what you need to do is PAY YOURSELF FIRST.

See if your company offers a direct deposit savings plan and sign up for it. $50 or $100 a paycheck or whatever amount you decide. If not, set one up yourself at the bank -- .
.

This is one of my favorite ideas as well.

 

[Marionnette]

Sounds like your problem is the same as me.

X amount of money
Y amount of bills

X=Y

You are not going to be able to save like that.

Mine is worse.

X<Y

I can't save, not even for the stuff that I know needs to be paid.

People who have a lot of money always gives the same advice. Cut or increase income. That is the answer even if there is no way of doing either of those. Also they say sell sell sell.

I can't cut. I have no cell phones to cut out. I have no eating out to cut. I have nothing I spend money on except for bills. I get paid Friday at 9 am and when I get home at 4 pm the money is gone. I immediately fill both cars full of gas and do the bills. Money = $0.

That means the $100 I put into another account to pay car insurance and heating oil later ends up spent. My wife goes through 2 tanks of gas to get to work. One filled on payday, the 2nd has to come from the insurance money. The kids are bound to be sick and need medicine and/or often doctor visits. That comes from the money saved to pay for heating oil.

I have $310 insurance due and still haven't paid my last oil fill of $424.

Next comes I need 6 tires for the cars. They are as bald as a baby's behind. 2 tires for my wife's car comes tomorrow. No choice but to put $350 on a credit card (2 tires and a wheel alignment.) My tires came on the car and are high performance tires. Driving in the rain is like water skiing and snow I just forget about it. 2 bald in the front, 1 sitting in the garage that won't hold air any more and the spare on the car now. The other is good. 4 tires needed NOW. Monday I will be putting tires on it, probably about $550, again no choice but to put it on a credit card.

It's tough and there is no end to it. I don't see how I can put a stop to it other than go homeless because I have nothing to get rid of to sell for money.

It's a vicious cycle and you're not alone. I'm not sure what the answer is for someone in your position. It's very easy to say "get another job" or "spend less". But when someone feels that they cannot do either, then the situation is hopeless. I wish there were a magic wand that would change things. But the honest truth is that if you are spending more than you are making, then you need to cut back on spending or else find additional income somewhere.

 

[ZehnJahren]

It's a vicious cycle and you're not alone. I'm not sure what the answer is for someone in your position. It's very easy to say "get another job" or "spend less". But when someone feels that they cannot do either, then the situation is hopeless. I wish there were a magic wand that would change things. But the honest truth is that if you are spending more than you are making, then you need to cut back on spending or else find additional income somewhere.

And unfortunately, if it's really really down to the wire, then someone HAS to take a second job if you're in a two-parent home. Don't work on Saturday and Sunday? Wal-Mart will employ you. If not Wal-Mart, then Target. If not Target then Walgreens. If not Walgreens, then the local grocery store. Work on Saturday and Sunday, but not Tuesday? Tuesday's your day. Work til 6 p.m. every night? All-night pharmacy stores and department stores will take you once you're done with the first job. Three 5-hour shifts a week will net you at least $100 a week - and even if you spent half this paycheck on gas to get to the second job, you'd still have an extra $200 a month - and that could pay for groceries. Or gas. Or SOMETHING.

My mom worked three jobs - none of them very good - to raise me. And she was a single parent. If she could do it alone, I hesitate when someone says they can't .... but I acknowledge it DOES happen. However, if it's dire (single parent, infant in the home) there are very few choices. You find a local babysitter to watch your baby and you go to a second job. Even in that case, in my scenario if you spent 3/4 of your 2nd job paycheck to pay for gas and babysitting, you'd STILL come out ahead $100 a month. It ain't pretty - but God willing it's temporary.

 

[diamondpixienc]

Well, we have been there but it takes time to get it under control. Once you can clearly determine your NEEDS over your WANTS the ways to save are pretty obvious. Now, it wont be easy and you may have to make some hard decisions for example we down sized and gave up some square footage for PIECE OF MIND in order to continue to have the private school and be a SAHM. Same area and zip just another neighborhood near by. Now, it has been 2 years we are nearly debt free only 1 more credit card to go I am still however trying to figure out the CVS thing too with help of the thread here on the DIS of course I am actually going on my FIRST ever double coupon week grocery shopping trip this week after about a month of planning, watching, and waiting as recommended by the seasoned couponers out there some of which are on here I think I am ready. I personally am scared to death Meals have been planned around store coupons for the deli dept, etc. Don't worry I only plan to buy 4 jars of sauce and only 2 bottles of mustard.