My total income is 1300/mth, my out go is 1234/mth. How do I save anything?

Question

This includes all bills and $100 for food/mth for two ppl.

Answer 1

Yes. Make a list of all your debts.Keep a record of everything you buy. Be sure your list is complete. List even a pack of gum.Know where and what you spend. Then you can see items you can cut out. Most important pay yourself first. Even if it is only one dollar a week.

Answer 2

You have to reduce your monthly bills. Whether you have to cancel the cable, reduce the features on your home phone (or cancel the home service all together if you have a cell phone), you have to effectively find a way to reduce your expenditures. I'm speaking from experience. I gave up my car and started taking public transportation. My total car expense went from about $400 a month to $60 a month for a train pass. I now drive my dream car, but it took some years to get everything under control where I could spend for the car that I ultimately wanted. But you also have $66 remaining. Put most of it in a very restrictive type of savings account that discourages multiple withdrawals. I opened an account that, after 3 withdrawals, it charged $5. So it didn't make sense to take out $20 if it was going to cost $5. Go over every bill with a fine tooth comb and make adjustments.

Answer 3

get a part time job for 10 more hours per week= 10*$6=60* 4 weeks = $240- taxes = $200 dollars - spend $50 more on food and entertainment and save another $150

how much does the other person do- if its a kid over 16 make them work p/t- if its a spouse then make them work an extra 10 hours too

you can make an easy $50-$100 extra per month doing surveys online like I do. these sites are free to signup-u just need an email address- surveys take 3-10 minutes and pay $.50-$2.50 ( i make about $5 a day extra during commercial breaks!!!!) your kids can easily do this too because they just ask questions about consumer products and your opinions

good luck to you

Answer 4

Omg, I understand. I just turned down a job offer far away b/c I was saving $100 a month in pocket money. The rest of my paycheck was going out in bills! I have accepted the same job in my local town and have decided to live at home for six months to save some $$$ b4 venturing out.

Is living at home an option for you?

Can you do without cable/internet? Do u neccessarily need a cell phone? Go to the dollar store to buy supplies for the house. Look for coupons in the Sunday newspaper.

Look for partime job opportunites such as tutoring or babysitting, etc.

Hope that helps!

Answer 5

Sounds like you're tracking your expenses.

First, you can surely save a portion of the remaining $66.

Second, trim down your expenses if you could. Assess your 'needs' versus 'wants'. For exmaple, do you really need to pay for cable TV, cell phone, etc. Consider moving to a lower cost of living area. If you're only spending $100 food for two, you are probably paying too much for shelter.

Good luck.

Answer 6

Look at the bills you have and cut some stuff. Or get another job.

You might try automatic withdrawls from your bank to a savings institution (maybe $20-50 a month). You won't see that amount to spend it, and it'll force you to cut in other areas.

Answer 7

I am going to assume you are paying off credit card bill in this too, right? I would call a debt consolidation company and they can really lower that for you. Try renting movies instead of going to the movies, buy generic brand food. This should help.

Answer 8

make more or spend less.

food must be cheap where you live.

i spend a good deal more than that here and it's just me.

btw, i make only about $650 a month.

so the food banks really do help.

the lousy $10 a month the state is willing to give out in food stamps to me doesn't even cover their operating costs.

Answer 9

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Answer 10

in mathemarical figure u will save 66, but sometimes we usually buy things thats not in our budget, so try to save at least 20-25 a month, i know its not much but still ok than nothing.