It might be a good idea to start with keeping a log of every penny you spend for 2 weeks. Write everything down that you buy everyday and get yourself an idea of where your money is going. Once you have that tallied up, you will know where you can cut back. Things like cigarettes are of course going to be a waste of money, as is a coffee or coffees everyday. You can make a coffee before you leave for work for free (well almost free) rather than a dollar or two daily. I cut out my daily coffee and juice drink that I used to get on the way to work because it was costing me $74 a month.
I posted asking for help with setting up a very simple and basic budget working with $200-300 dollars a week. I have gotten myself in to a very bad debth with credit cards and other things. when i get my paycheck i end up with nothing the next day i end up asking for money for lunch. i don’t pay the major bills my husband takes care of that. the bills that i pay or my car note and car ins, cell phones, life ins, and also the other household bills and i buy the groceries which i seem to go to the store everyday. i live from paycheck to paycheck please if anyone can give me some answer i would be grateful. also i asked if any one was fiamiler with the old fashion envelope method that some people use. i just need to know how to keep some cash in my pocket and also i want start saving for a vacation with the family next year and want to have all my bills paid by dec/jan.
Don’t know if this will help you but it did for save some money for us!! I didn’t renew my cellphone account and went with a prepaid account (T Mobile) because I don’t need it everyday. But my husband uses his everyday and he got a (T Mobile) plan that has 3000 minutes for $59 a month(worked out great for him) no more paying overages!! And instead of buying lunch everyday, try bringing something. I make enough dinner so that we have left overs for lunch the following day. Or bring a sandwich or if you have access to a microwave (and the time) frozen dinners, Albertsons has the Banquet meals on their 10 for $10 sale often! That is so much cheaper than buying lunch everyday. Hopefully that will help a little bit!!
Did I misunderstand or were you somewhat offended by Thom’s suggestion that you start with a simple list… just write down every single penny you spend and where you spent it? I know that sounds too simple, but it is an excellent idea, and is the least expensive, easiest, and most effective thing you can do right now.
Only when you know where your money is going will you even be ready for the envelope method you mention. You say you go to the grocery store almost every day. Do you realize how much money that is costing you? When you don’t plan what you will buy, you will waste money at every trip. Do you check your cash register receipt for errors every single time? If you don’t, you are wasting money, because most make a lot of errors, and they are not in your favor.
Do you use coupons and shop on “double” and “triple” coupon day? If you don’t, you are spending 30 to 50 percent more on your groceries than is necessary.
I don’t mean to be a smarty pants, but like the tee-shirt says, I’ve been there, and done that… and, after all… you DID ask. So just give it a try, OK?