Hard time paying the bills...?

Question

Well, I'm having a really hard time keeping up with my bills. My husband and I are renting a home, $1500 a month. We have 3 kids, all over the age of 18. They live with us. It just seems that since we moved into this house, we have had problems keeping up on the bills. At our old house, we were a month ahead on all the bills. But when we moved, we didn't get any money back from the bank which made it impossible to keep the bills a month ahead. My husband makes 6600 a month and I make 600 a month. Yet, we are struggling. Between all of our bills, we are in trouble. What makes it worse, all of the bills are due at the beginning of the month. Our rent, car insurance, the two truck payments, and the cell phones. It's hard. Do you have any tips that could possibly help us?

Answer 1

1. Move into a cheaper home, $1500.00 a month for RENT is just a waste of money. You can buy a home and get a mortgage for less.
2.Get rid of the cell phones.
3.Trade in the trucks on more economical vehicles.
4.Get the kids to contribute....freeloaders.
5.Get a better job.....there's people working at McDonalds making more money than you.

I figure between you and your husband, you're making over $80,000 a year and you can't manage, well boo hoo.

There's family's living on under $30,000 a year.

What a pathetic question.

Answer 2

Some things you can do to help lighten the load:
1. First thing, keep a log for a month of everything you spend money on. This will help you to see where you are wasting and what you can cut back on.
2. Call the billing companies and ask them to change or move the due date of your payments.
3. Once you do that, plan payments based on your paychecks (if you get paid twice, you split your bills and pay them once you get paid -- what is left is what you get to use until the next pay check)
4. Pay the ones with the highest interest rates first, pay minimum on the rest.
5. See what areas of your cell plan you can cut back on or switch if you won't get a penalty
6. Shop around for cheaper car insurance
7. Ask the kids to pitch in, if they are 18 they should have jobs, ask them to help out

Answer 3

1. Ask your children to contribute, if you don't already. They are adults and they could contribute at least a little bit, which would help.
2. Try calling some of your bills and asking them to change the due date, or get on a schedule yourself where you pay some "early" (toward the end of the month for the next month) so that you're not trying to pay them all from the same paycheck.
3. Try to think of ways to cut down on expenses. Even shaving off a few dollars here and a few dollars there can add up. Consider ALL areas of your life, from the utilities to the grocery shopping.
4. Perhaps you could work more hours or try to find a second job.

Answer 4

You have to sit down and figure out where every single dollar is going. Only use ONE credit card or debit card, whichever you use most frequently. Try to consolidate credit card debt onto one card to lower monthly payments. Cut out extra expenses.

All children over 18 need to have a job and need to help contribute. They're old enough to go to war, so they're old enough to know that mom and dad are in a little over their heads. Let them know that you'll sport for basic needs (socks, undies, food), but anything extra they want they need to get for themselves. They need to pay for their cars also. Gas and insurance is their responsibility. The kids need to pay for their cell phones as well.

Try to cut out any features from the cell phone bill that you may not be using like internet, picture mail and text messaging. Do not keep any cash on you, that will force you to use the card. When you use the card, you naturally should feel more guilty. Attach meaning to the use of plastic and analyze the need of every purchase. Until you get things under control, you need to halt all forms of entertainment. (bowling, movies, dining out, bars, shopping, etc.)

Get used to using something like Quicken or Microsoft Money if you haven't already. Keep all receipts and account for them in the system. You should know your bank balance at all times. Spend light the last two weeks of the month so that you can afford the bills at the beginning of the next month.

This is all the advice I can think of. It's hard for me and my husband to make ends meet sometimes. It's really frustrating. Also, though I know you can't do it right now, I recommend owning rather than renting. I'm 22, my hub 23. I make about 600 a month, and my hub makes about 1600 a month. We own our home and lease our cars. We live in a condo with an association fee. It can be hard, but look to the future. There's always a better day. Good luck.

Answer 5

Call the creditors and ask them to stagger the payments and change the payment days of the month.
Ask all of them for lower interest rates.
Explain the situation to all of them as necessary and ask for help.

Make the kids work and pay something, (put 1/3 of it into a bank account for them so some day they can afford to move out).
If the kids won't work, move to a 2 bedroom house and let them all sleep together.
Dump the cell phones.
Start your own business, using your trucks, the kids can do that too.

Answer 6

The first thing that jump out of this story is the 3 grown kids that live with you. I think that they all need to start kicking in with some rent or bills. If they are in school then the next thing is to reconsider some of your expenses. Do you really need the two vehicles that you are making payments on? maybe get one new and one used that you pay for cash.

Answer 7

My parents are kind of in the same situation...i'm 19 and I have a part-time job so I pay for the cell phone bill (for everyone) and I have a little brother so I take him places without asking them for money. I also pay my own car insurance. I haven't asked my parents for money since I was 17 (cuz I started working). My parents are trying really hard because we are almost 1000 dollars short every month (my dad lost his job). So I would suggest just asking your kids to do their part if they don't already.

Answer 8

Since all your children are grown you should consider eliminating one of your cars that cuts out money you're shelling out each moth on the note. You should write out your budget for each month on what you spend for yout bills and stick to it. You're spending more renting when you could have bought and paid for a home instead of renting a place. You could consider having your children contribute financially to the rent if they're living with you. Eliminate credit cards only have 3 and keep the no annual fee low interest rate cards and lower the credit line and if the company wants to increase don't because your interest rate goes up when your credit line increases. You should have a credit card for your personal use one for travel, and one strictly for emergencies that you don't use unless you have to. Your line of credit should be $5000 or less nothing more. Only take credit lines you can afford to pay off because too many people take on these high credit lines and can't afford to pay their debt off on time thus increasing their interest rates. Here's a tip to save money for Christmas and special occassion gift giving start a savings checking account and put money into it every pay period and let the interest build and use the money from that to purchase gifts so you don't have to take out money from your personal finances. You should also consider checking your credit history annually to make sure that anything you have doesnt go to collections. Go to www.Freeannualcreditreport.com and get copies of your credit history from all 3 bureaus. Keep in mind that most people are in debt because they're living over and beyond their means. Do research to cut down costs on your vacations and stick to a budget when you travel too since too many people go overboard with their spending.

Answer 9

$7200.00
-1500.00
______
5700.00
What are your other bills?
Subtract them.
What is left?
Do it on paper.
In a "budget book"
Even if it is just a notebook.
Write down when each bill is due.
The date.
Pay the payment .

Are the kids working?
They are over 18?
HOW MUCH OVER 18?
You may have asked for trouble if you are raising children who are adults and capable of moving out and supporting themselves.

Answer 10

1. start having your adult children help out. part-time jobs go a long way.

2. if you only make $600 per month. is there any way you can work for more money?

3. try to rearrange the due dates for the bills you pay

4. put yourselves on a realistic budget (cut out unneccesary spending, etc.)