Too "rich" for welfare & food stamps, but check to check living is hard! What else can we do?

Question

My husband I both work full time five days a week, and I sell odds and ends on E-bay & at a weekend flea market to make ends meet. We have basic bills (utilities, car note, rent, grocery, etc) that we have to pay and we do very well to budget and not spend unnessesary funds on frivolus items. Unfortunately, at least one debtor is still not paid on time every month and savings remains empty. Does anyone have an tricks to establishing a better budget plan that would in the least help us get back on track faster so that bills can be paid on time? Or, can you think of any other "money making" opportunities we might look into?

Thanks in advance!

Answer 1

I use the excel template linked below(heavily customized for my own situation) for basic budgeting.

http://office.microsoft.com/en-us/templates/TC062062791033.aspx?CategoryID=CT011815531033


As to making ends meet better? My wife and I were in the same situation about 2 years ago and decided there is no magic solution other than make more money. I decided that I would go first and picked the IT field. I studied after work and during my lunch hours, passed a certification exam and began to jobhunt. 6 months later I was hired at triple my then current income.

That allowed my wife to quit her job and go back into retraining and she has now almost completed training in her chosen field(Medical Sonography). When she finishes and goes back to work we should be making over 130K combined.

The secret is to decide it's time to make a change and then just do it. Feel free to contact me on messenger if you are interested in my customized budget and I will send you a copy of the file.

Answer 2

I would suggest consumer credit counseling. Also, you should look to see if your skills are in better demand in another part of the country or if you can improve your education to improve your options.

Finally, I would suggest the book "Why Men Earn More." It was written by a former director of the National Organization for Women. He did an economic study of what determines pay levels in the United States. It turns out men, other things equal, tend to be paid equal or less than women, but that women and men engage in different behaviors that result in higher pay for men.

Anyone can do these behaviors, but it also means you will likely be uncomfortable. On the other hand, if you are giving up time for flea markets and so forth, then you are probably willing to be a little uncomfortable. Pay is based upon supply and demand. Can you offer to supply a service that is demanded but few others want to supply.

He found 23 factors that determine all wages in the United States, none of which are gender (except one which found that naturally pretty women are paid more for the same work than any other group regardless of employer or employer's gender).

Answer 3

Sell the car with the 'note', pay off the loan and get an old junker car with whatever cash you have left over (NO LOAN). One monthly bill down.

You need to know where every penny goes (every corporation in the world does this and so must you). For one month, write down every penny you spend and what it was for ($21.89 - clothing, $41.16 - gas, $67.09 eating out, $4.32 - movie rental, ...) This will show you where the leaks are and only then will you be able to plug them.

Write down your budget, starting with necessary expenditures (housing - including insurance and utilities, but NOT cell phone, internet, satellite/cable - groceries, clothing, auto fuel and insurance). Next, write down 'discretionary' expenses (this is where you put satellite/cable, eating out, and such). Finally, credit card debt.

Start at the top, subtracting each item from your income until you have zero (either you've accounted for everything or have bills left over to pay). Now you know if you REALLY need help.

If you still have bills left over, you need to bring in more money or cut your expenses. This could be getting rid of the expensive cell phone or cable TV, or it could be a second job, garage sale, whatever - YOU have to decide. Use this money to pay living expenses first (if that's not already covered), then start paying every last cent to the credit cards.

Make sure you budget some money for an emergency fund. This is not only important, it is NECESSARY. Emergencies will happen, so take steps now to be prepared for them.

For more info, check out Dave Ramsey's website and books ("Financial Peace" or "Your Total Money Makeover").

Feel free to email me if you need more info.

Answer 4

Not once did I hear you mention your husband having a second job. Even if it's something small, it's something. And maybe you want to look over you expenses one more time. Newspaper? Internet? Both can be found for free at the library. Maybe sacrifice one room in your home and take in a boarder. And as for your car...ride a bike or walk instead unless you are going really far away. Eating out, going to the movies, shopping for extra clothes, drop it all.

Answer 5

Since your going to the flea markets on the weekends anyway one of you sell your items and the other do face painting. Kids will pay two dollars a pop to have a little balloon or cartoon character painted on their face. Could make $100 extra just doing this.

Answer 6

Some people may argue with my answer, but you should really look into selling Mary Kay! It sounds like your already a good sales person and it would really be the perfect opportunity! You make a $100 decision and it really could change your life! Research around, you will hear negative and positive, but in Mary Kay if you work hard, you will make amazing money! There are "Mary Kay Millionaires"! Good Luck!

Answer 7

I don't hear you mention a second job for your husband??? What's wrong with him pitching in and working on the weekends, or a night job? Have room to take in a border? Garage space to rent out? Best of Luck!

Answer 8

It sounds like you are doing everything you can.I get by with 1 job and 3 kids but rarely do bills get paid on time and you can't freak out about it.It only one is late a month but you are paying it ignore their griping.And don't kill yourself to make it ,either!

Answer 9

Can you find a better paying job or one or both of you take a second job? At least for awhile until your car is paid or something? Other than that, I don't know......I"m sorry.

Answer 10

You'd better check your cash flow carefully. Are there any unnecessary expenses?
If all things are OK, try to get additional income. Selling goods, food, or your expertise are good ideas. Learn all possibilities.
Don't forget to give donation to the needy and to give thanks to God.
Good luck.