any ideas on budgeting?

Question

here's my situation: single parent, 4 children, income-1000.00(every 2 weeks) expenses and outstanding bills that I'm trying to catch up on:
-rent 700.00(monthly) -credit card 1000.00(owe)
-cable 150.00(monthly) -braces 700.00(owe)
-school 700.00(owe) -HRA 1000.00(owe)
other outstanding bills 500.00
don't forget food, personal items, toiletries....and my 4 children

Answer 1

right off the top does your 700 include all utilities besides phone and cable -- and why is cable so high == i have dish with a million channels and it is only about 69 a month --- in the other 500.00 is for utilities i would be looking for another place == i could give you some good advise if you want to email me but i can help with this many questions!!!

Answer 2

Use an envelope system. Put an envelope in a three ring binder for each bill. Divide the bill amount by each paycheck in the month. Write the amount and the date that you should put into the envelope each pay day on the front of the envelope. Every pay day, cash your check or a good portion of it and divy it up into the envelopes. If you get an unexpected bill, call the person and make a payment plan and make an envelope for it.
If you find yourself pinching from one of the envelopes for food, gas, shampoo etc...then you have to reduce the size of that bill by cancelling the service or at least cutting down on it.
Highlight the due date on each envelope and put the bill inside so it goes out on time. THIS WILL HELP!
After a few months, you're going to have a great record on what you are spending. If you pinch from an envelope, write why on the outside...no one will see it but you and it will help you later. In the meantime, you will find it easier even if it takes an extra 20 minutes per month plus an extra 15 per pay day.

Answer 3

There are plenty of good books out there regarding Household budgets. In fact I might sit down one day and write one. Visit your local library also look for money management. I would look at all of your expenses and start cutting or canceling. For example, $150 cable bill, you can greatly reduce this or do away with it. Do you read your daily newspaper and magazines? Quit using credit cards and pay more than the minimum payments. Consolidate your driving and make all of your outings count. Stick to a list when you go shopping. Can any of your kids earn some money on their own? Have a limit for Christmas. Try to avoid charging Christmas on credit cards and then paying for it all of next year. Keep track of your expenses for a month and you'll see for yourself on where you can save. Get the books for sure. One or two would be enough. Also check the Internet and do not pay for it either, plenty of free information.

Answer 4

Do you really need cable? That would save you $150 a month right there. You should concentrate on the bills that have the highest interest rates (probably your credit card). I would look into the food stamp program because you're probably entitled to them with 4 children and that could really help with food costs.

Answer 5

You only make 2000 a month and you spend $150 on cable ?
Get some $5 DVDs at Walmart and save $1800 a year .
Also , many places can pick up broadcast TV with no cable subscription .
My best friend makes $6000 a month and his wife makes more . They don't waste any $$$ on cable .
I don't have cable now either although I do spend $10 a month on NetFlix . ( We get our news off the internet )

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Answer 6

As a suggestion, I'd say drop cable down to basic. Then take all your extra money and start paying down that high-interest credit card. Once that is paid down to 0, stoop adding expenses to it, take the money you were using to pay down the credit card and start paying down the next highest-interest debt.
In order to visualize and organize all of this information, along with your income and when you need to pay for these things, I use CalendarBudget. Its a great tool for organizing your budget.
Best of luck!