Young married couple with 4month baby and one income looking for advice...?

Question

Here's a snapshot of our situation:

One income of $1300-$1600monthly

checking: $1436.16
savings: $1288.36 ( About to buy a car for $1000)
($288.36)
On hand : $300.00

My hubby and I are just getting really serious about our finaces and are saving about 15% of our income right now. Our monthly expenses right now are about $1200-$1300 ...really pushing it. We are looking to try and put our money someplace with the least amount of risk for right now. And also I am a SAHM and are looking for ways to earn some extra money while avoiding childcare expenses. Does any one have a similar situation or some advice?

Answer 1

First, try to cut your spending: call your credit card companies and ask for a lower interest rate or try to get a low interest rate transfer balance deal (Chase offers deals with no balance transfer fee). Talk to your landlord about getting a reduction in your rent, sometimes you can offer services (such as painting the walls) to get a rent decrease. If you own your home, see about refinancing for a better interest rate.

Eat out as little as possible and don't go to snack machines or buy sodas at convenient stores. Cut your cable and home phone line, get a cheap cell phone plan instead, do without the cable/movie going until you get financially fit. Shop at thrift stores for clothes and housewares instead of the mall or specialty stores. Look at ways to cut spending by creating a budget and sticking to it.

Ask your boss for a raise, put together a good argument as to why you deserve more money. If you don't get a raise, start looking for another job that will pay you better. If you do all these things, you should begin to have money for savings and eventually stop living from paycheck to paycheck.

The best savings account would be emigrantdirect.com . They're currently paying 5.05% interest with no minimum balance and no fees. Check it out to open up an account. Best wishes!

Answer 2

You could start a at home business. It could be on the computer or you could sell Candles, Jewelry or avon...You might even think of taking in another child to watch for cash....Or you could work part time at night a few nights a week for that extra cash until you can stop.
You have to think of where you want to be and where you are going.
Good Luck!

Answer 3

I have a daughter who is a SAHM and asked me for this advice. She writes well (you seem to also) so I suggested she write for a website named Associated Content.

They pay for content. You can write articles, submit videos, or audio files. They love how-to content and also reviews.

I write and submit articles to them. They paid me $200 last month (I just do it for extra cash). My daughter made about $160 her first month for the articles she wrote. She plans to ramp up her efforts.

If you have a Paypal account they deposit directly into it. Take a look, it may be of some benefit.

Answer 4

Hi..

Put a sign up in your front yard and advertise something to sell or a service you can provide.

Look for people close to you. Service the people who are the closest to where you live.

Office work..write letters, type, visit elderly, housework, cook meals etc.


When you have some money:
Get on the internet ...you can service small business.

Look here:
http://www.viralshock.com/members/reporter

Alternative:
Write a classified ad and put it in the paper.

Answer 5

You can try the following programs. All of them are free to join.

http://www.mylot.com/?ref=workathome
This site enables you to make some pocket money for asking and answering questions

http://www.taketheinternetback.com/index.php?refId=27510
You get paid by reading email. And they will give you USD10 in your account when you join.

http://www.agloco.com/r/BBBN2723
This company are still in pre-launch so I don’t know whether they really pay. But since it’s free to join, so you have absolutely nothing to lose. The overall concept is good and makes sense.

Answer 6

It takes two salaries to send a baby to Harvard and only one to send a baby to Prison.

Choose your baby's future wisely.