It seems whenever you kinda catch up a bit, something happens and drags you back sometimes even further in debt. Also it seems very hard to save for any period of time, let alone retirement. It's enough just to get by and keep paying the bills.
2006-09-26 10:59:26 · 7 answers · asked by Rick 2 in Business & Finance ➔ Personal Finance
One good spending plan is the 50/30/20%; 50% for necessities (if you want to know what those are, just think: 'what would I spend money on if I had no job?' & those are the necessities; then, 30% to spend on whatever you want, or fun money; and 20% to save and invest...you could tweak this & make the 20% fun money and 30% to invest; I've been following this for over a year and it's a big help; you cannot enjoy life without having some fun money!!....this is from a book called "All Your Worth" but I forget the author's name.......if you sit down and really figure this out, with some minor tweaking if need be, it will be a big help!!!!!!!!!!!!!
2006-09-26 23:02:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The more you make the more you want. Move back a couple steps and will have more to live on. Never buy a new car. Buy slightly used or something that you know the history of like a relatives car. No car payment is a big saving on interest. You need your house morgaged for the tax deductions to meet the minimiun. Renting is paying other people mortgage. A house usually doubles in value about every 11-15 years. Only keep credit cards for emergency or at least get to where you pay them off every month so you do not pay on interest that you cannot write off. Start a small home business so that you can use all them tax write offs from part of your rent to part of all your utilities and more. When you go to the store you get something for the business so you write in that mileage. If you spend more than 2% I think on things for work you get to write a portion of that off. The first three years your small business can claim a loss then it becomes a hobby so that you have to go out and start a new business and quit the old one. There is lots more to this. Look around and get a free tax course then only owe on things that you can write the interest off on. Keep looking and learning you will find all kinds of ways.
2006-09-26 11:14:35 · answer #2 · answered by ronnny 7 · 0⤊ 0⤋
4 ideas
have a small amt of savings deducted from your check or acct and put in an acct you are unlikely to touch
resist temptation, don't shop for recreation, before you check out at the register figure out what you don't really need or can reasonably postpone buying.
calculate how much extra you need per month then get a 2nd job for a short period of time to get you there.
Good luck
2006-09-26 15:32:21 · answer #3 · answered by indyth@sbcglobal.net 1 · 0⤊ 0⤋
Have no children. The problem seems to be compounded by individuals who continue to put out kids that they cannot afford to support. Besides that, concentrate on living within your means and if you can't afford it, DON'T get it, with food & medical being the major exceptions.
2006-09-26 11:25:31 · answer #4 · answered by Rckets 7 · 0⤊ 0⤋
I feel the same way just pray about it. And try to manage your finances and budget your self.
2006-09-26 11:04:33 · answer #5 · answered by lovedarkpassion 2 · 0⤊ 0⤋
With a hope and a prayer buddy. A hope and a prayer.
2006-09-26 11:06:03 · answer #6 · answered by anon_y_muse 2 · 0⤊ 0⤋
Hardly!!!!!!!!!!
2006-09-26 11:07:32 · answer #7 · answered by Dali 2 · 0⤊ 0⤋