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

Question

ok - first of all both dtr and I r hndicppd. Can't work. Only get govt asst. =ing $1304/2ppl. Bills for both ppl include: $354 rent, $525 CC's/4; $60 cell - have motorized w/c and need cell for emergency calls when out; $120 cable/phone pkg - standard pkg; $25 internet - need internet for dtr who is retarded and has nothing else but tv and me for companionship; $100 food; $50 med copay. If I put money away, it seems like something comes up and it goes out anyway. EX: Had $120 saved - microwave dies - needed new one for $78, left me with $42 in jar which went out for personal items - tampons, deodorant and laundry/bath soap from dollar store. Any more suggestions? Thank you.

Answer 1

$525 a month for credit card bills???? On your income? What are you buying?

$120 for a phone & cable package???? On your income? Get a cheap dial-up and basic cable only, no fancy HBO and all that.

$60 for a cell???? On your income? Get a prepaid cell and use it for emergencies ONLY.

$78 for a microwave? Buy from a yard sale or craigslist. Or ask for one on freecycle.

You need to learn to live within your means. Sometimes living within your means totally sucks, but there is no other way to get out from under.

Have you applied for food stamps and Section 8?

Answer 2

First, is there any way you can consolidate your credit card payments to a lower interest rate? That's what's holding you back.

Second, you have both a cell and cable/phone package. Get rid of the cable/phone. I understand you probably use it for your internet connection but considering how close you cut it every month, you might reconsider whether these items are worth it. Maybe just cut it out for a year to pay off your credit card debt. Then, once your debt is gone you can reinstate it. Your reward for getting out of debt.

To be honest, I really don't understand why people insist that certain expeditures are a "necessity" when they are not. Food, electricity, shelter - those are necessities. Not internet and cable. By reallocating that $155/month toward your debt (how much money are you losing with interest?), you'll pay it off and never (so long as you don't rack up debt again) have to worry about it.

You should really scrutinize what you purchase as well. Was the microwave really needed? Do you have stove/oven? It's convenient, yes, but not a necessity. Also, there are websites like Freecycle and Craigslist where you could probably get free items like microwaves (assuming you keep the internet connection).

Answer 3

If you really have to save then cut your expenses. Call all utility companies and tell them about your health and financial situations and ask for CAP programs. So many companies have these to assist those needy people, I am in the field of charity help and it seems you qualify hands down. $120 for cable and phone is ridiculous, you can get basic cable packages even in DC for $15 and most phone companies I know have medical phone packages for no more than $20 a month. If you consider cell a necessity then get a pay as you use phone. If you have a contract call them and tell them about your circumstances and they might switch you to a pay as you go plan, don't use a cell phone for personal use if it's for emergency really you live above your means. There are smaller packages for internet and I know that there are 9.99 dial up plans. Ask your local welfare/assistance office if there are any programs for med copay discounts. I have one here at the agency I work for that reduces those by 20% for ANYONE. Also look around for local agency, sometimes you can register and be on file for donated items like microwaves, appliances, food, clothing and things like that. Please don't be too proud to use these services, we're here for people who need help.

Also, I just read back what CC's meaning credit cards, wow that's ridiculous, call a debt consolidation company and never use a credit card again that is obviously a huge temptation to overspend for you.

To be honest with you I make less money than you I have the same rent, I pay about $40 for cell phone and $20 to split high speed cable internet with a wireless user. I have a 6 year old daughter and I'm able to save $200 every month. I don't use cable tv I feel fine on the reception from antenna getting local channels. And I have tons of credit cards none of which contain balances owed. I pay them if I use them. I pay $100 for a student loan. And I pay for gas and insurance on a vehicle as well as other maint. expenses.
I'm not offering this info to say I'm better than you, but I just want to point out that I've arranged my priorities to what is important for me and you can do this too. Resist the urge to live beyond your means and you will not feel the stress and pinch of needing money or wanting for anything. Good luck.

Answer 4

$60.00 sounds like a lot for your cell phone. Maybe you could look for a cheaper package.
When possible buy things that are broken in (aka used) - like the microwave you probably could have picked up a really cheap used on for a couple of dollars at a thrift shop.
Sounds like you are doing a good job stretching your dollars though.
There are many sites on the Internet that deal with living frugally and they have lots of tips for stretching your money.
Also talk to your bank and see if they have a systematic savings plan you can use - such as putting in $10 every week or something. Money in a jar does not earn any interest.

Also very important - if your dtr has special needs there are probably supports for her in the community. She might qualify for special activities, mediators etc. as well as some charities and government programs will cover costs for special equipment, transportation etc. Start calling some local social service agencies and they can point you to the right agencies.

Answer 5

You need to look at what you are spending.

$60 for a cell is WAY too much. If you only need it for emergencies you only need a phone and you can connect to 911. You don't even have to have a plan. Or, you can get a pre-paid plan for cheaper. T-mobile offers $100 for 1000 minutes.

Your $120 cable/phone package, is that a land line phone? No need for both a land line and a cell. Also, no need for cable or at least not a plan that is that expensive. You can live without all of the movie channels. People did it for years.

My suggestions:
1 - Get rid of that cell plan and downgrade your cable.
2 - Get your daughter into a day program. She needs to socialize. It would be good for both of you and build her skills. You will die at some point, she needs to have a network in place.
3 - Learn to get free/cheap stuff off of craigslist. You didn't need to pay $78 for a microwave. If you *really* needed a new one, you could have gotten one at Target for $50. A better bet would have been one for $10 from craigslist or a free one from freecycle.
4 - quit using your credit cards. they are only making your problems worse. The fact that you are paying more for credit cards than rent is bad.

This will not be easy, but you need to get your priorities straight.

good luck.

Answer 6

get rid of cable and internet , they are not necessary . get rid of cell and get a calling card . call a debt consilidation company and tell them you can only pay 300 a month . so here we have saved $345 . and you will need a home phone at about $30 a month . so a total savings of $315 a month .

get a job at the movie theater checking tickets as people come in , you can be disabled and do that . 15 hrs a week would be a huge impact with you living on so little

i use to live like you until someone told me something that hit me hard , "no matter how much money you make you will spend it all on crap " i didn't take it seriously until i got a huge raise and was still living paycheck to paycheck , i figured more money meens more stuff!! the bottom line is it is very easy to save money ,but it is very hard to want to

Answer 7

Have your bank/cookie jar automatically put the extra $66 into savings. Since you are living so close to the rim, you really need savings for emergencies. As you know in your situation it is very important for you to have savings.

Since you have a computer and Internet, you need to double checkout any and all assistance for the handicapped. Maybe someone will bring you a few meals each week to cut down on your food costs. As you probably already know there are a lot of people out there who sponsor the handicapped. Don't be too proud to ask for help. Also ask the utilities and phone companies if they will give you a special rate because you're handicapped. I bet if a lot of handicapped got together politically, you could force utility companies to provide better rates. Call churches, mosques, temples, etc. and don't be afraid to cross denominational lines. It looks good for Jews to help Buddhists and Christians to help Hindus. Talk to the men and women in charge of anything and everything. Don't be afraid of them. Mention the fact that you can't save much for emergencies and that you have no one to turn to in emergencies.

Answer 8

You have it down to the penny allright. Contact the Fire Dept and ask if they do a food drive, or if they know of any. Sometime the local library has one too and some supermarkets also. Get on the list of any food bank you can find...it should supply toiletries as well. Ask the Red Cross too. Call the Welfard Office and start asking question. Call the radio station as well...these people have access to data banks and "know" people. Keep trying...keep you eyes and ears peeled for anyone holding food drives and contact them for helpl You'll come up with something.

Answer 9

You could cut out the cable. Or get the cheapest basic one available. I get one that's about $16. You could get dialup internet. Or keep the net you have and get rid of the landline phone, keep the cell. I don't know other than that. These are the things I've done since I'm just starting out after college and not making a ton of money yet.

Answer 10

Get rid of the credit cards, cut them up and pay that bill off. Cable and Internet are a want, not a need. Go to the park, find a network of friends in the same situation/support group.