Ideas for help with financial problems?

Question

I need some help. I need some ideas on how to control the spending, and money management of my family. We are a family of 6, my step dad is a truck driver, and my mom cleans hotel rooms. Every week is like a struggle to find money to pay bills, so I need some suggestions on how we can control or manage what we have. My parents want to gain in this life, but they just keep losing, it seems we can never win, or gain any money for more than a month, then bills take it all away, serious replies only. No sympathy wanted, or needed, just ideas.

Answer 1

You don't mention budgeting. Have you tried making a budget? It's really the essential first step to gaining control. You'll find out exactly how much money is coming in and where it's going. Then you can start to make adjustments.

There's a great downloadable ebook on budgeting that's available for free (no sign-up or anything) at the link in Sources. It will get you started in the right direction. Good luck!

Answer 2

I truely wish i had a simple answer for you. My first thought is that allthough things must seem tough now to say the least, you wanting and careing enough to see the problem and wanting to help is a very good thing ! Your comment of your parents wanting to gain also ! Being ,and staying a family of six when things are tough says much of all of you. I have no idea where you live, but no matter where it is, seek and find help through united way, food banks, churches etc. If your not old enough or not sure how to go about this, consider a teacher or a friends parents to get you started. I hope don't ever let pride get in the way of what is going on in you and your familys life. We all need help some times!! Take it and pass it on. Best wishes

Answer 3

The following is not sympathy but both background and advice.

WoW! This is wonderful! That you would think this far ahead and would want to help out is really great! I wish other people would do this! I used to be a counsellor and I often provided financial counselling for families in situations like yours. Invariably, the problem isn't the lack of income so much as the overspending.

For some families, money is being wasted on things they don't really need and can't really afford, like cable television, high speed internet, video games, second and third card, web cams for computers and so on. Sometimes, money is being "secretly" wasted on alcohol, other drugs, gambling et cetera.

Our collective and individual sense of self-esteem is tied to the "things" we have and so the first step would be for you and your family to sit down one evening and make a list of the things you need (food, water, clothing, heat, electricity). Next, make a list of the things you have that both contribute to your needs (ie a fridge, stove, pots and pans to make food) and which do not contribute to your needs (ie more cars than are necessary, computers for every member of your family...).

Now, for the tough part. Plan to cut out every thing you have but which you do not need within the next two months - and then DO IT ! It may seem hard at first but it really does work out - I've had dozens of clients tell me so in the past.

Once you've got spending under control, and that may mean cutting up credit cards - no, I'm not kidding, then you may want to look at your jobs. If any of you took further education, for example, would you be able to get a better and higher paying job?

Whatever you choose, the crux of the matter is income vrsus spending. Cut the unnecessary spending!