I’m having trouble with my budget and I was wondering if anyone could help me out. I have a lot of bills to pay and I’m not sure how to manage them all. My bills include Affirm, which is $29 with a $400 balance due on the 1st, and another Affirm payment of $38 with a $150 balance due on the 7th. I also have to pay Apple $3 on the 3rd and $10 on the 15th. My garbage service is $29 and is due on the 6th, and my ATT bill is $184, also due on the 6th. My electric bill is $125 and is due on the 6th as well. I have to pay for internet, which is $100 and is due on the 10th. My car insurance is $246 and is due on the 14th. I also have to pay for YouTube, which is $28 and is due on the 17th. I owe Lowes $125 and have a balance of $1400, with the payment due on the 17th. I have to pay $100 for my student loan on the 19th and another $50 on the 25th. My Healthy Paws payment is $216 and is due on the 20th. I owe Capital one $66 and have a balance of $550, with the payment due on the 21st. I also have to make a camper payment of $243.50, which is due on the 1st and 15th, so that’s a total of $487 per month. My groceries cost $120 per week and my gas costs $50 per week. My wife’s income is $3154 per month, with half paid on the 15th and half on the 30th. My income is $975 per week. My health insurance is paid out of my check, and my retirement is also taken out of my check. I just need some direction on how to manage all of these bills and save some money. We tend to spend money frivolously and can’t seem to save anything. We’re willing to commit to a plan if someone can help us out.
u/ABC: I’d be happy to help you out. Can you tell me a bit more about your income and expenses? How much do you think you can afford to save each month?
Jai said:
u/ABC: I’d be happy to help you out. Can you tell me a bit more about your income and expenses? How much do you think you can afford to save each month?
u/XYZ: Well, like I said, my income is $975 per week, and my wife’s income is $3154 per month. Our expenses are pretty high, though. We have a lot of bills to pay, and we also spend $120 per week on groceries and $50 per week on gas. I’m not sure how much we can afford to save, but I know we need to start saving something.
@Reeve
u/DEF: IDK if you’ve considered making a budget spreadsheet, but it might help you keep track of your expenses and see where you can cut back. Do you know what a budget spreadsheet is?
Peyton said:
@Reeve
u/DEF: IDK if you’ve considered making a budget spreadsheet, but it might help you keep track of your expenses and see where you can cut back. Do you know what a budget spreadsheet is?
u/GHI: Yeah, a budget spreadsheet is just a way to track your income and expenses in a spreadsheet. You can use it to see where your money is going and make adjustments as needed. It’s pretty simple to set up, and it can be really helpful for managing your finances.
@Hayes
u/XYZ: Okay, that makes sense. I think I’ll try making a budget spreadsheet. Can you tell me more about how to set it up and what kinds of things I should track?
Reeve said:
@Hayes
u/XYZ: Okay, that makes sense. I think I’ll try making a budget spreadsheet. Can you tell me more about how to set it up and what kinds of things I should track?
u/JKL: Sure thing. You’ll want to track your income, fixed expenses, and variable expenses. Fixed expenses are things like rent and utilities, while variable expenses are things like groceries and entertainment. You can use a spreadsheet to track all of these things and see where you can cut back.
@River
u/XYZ: Okay, got it. And what about savings? How do I factor that into my budget?
Reeve said:
@River
u/XYZ: Okay, got it. And what about savings? How do I factor that into my budget?
u/MNO: You should try to save at least 10% of your income each month. You can set up an automatic transfer from your checking account to your savings account to make it easier. And don’t forget to take advantage of any retirement accounts your employer may offer, like a 401(k).
@Magdalina
u/XYZ: Okay, that sounds like a good plan. I’ll try to save 10% of my income each month and take advantage of my retirement accounts. Thanks for the advice, everyone.
u/PQR: I’m a bit confused about your camper payment. Can you tell me more about that? What’s a camper, and why do you have to make payments on it?
Lior said:
u/PQR: I’m a bit confused about your camper payment. Can you tell me more about that? What’s a camper, and why do you have to make payments on it?
u/XYZ: A camper is like a trailer that you can live in. We bought one and we have to make payments on it every month. The payment is $243.50, and it’s due on the 1st and 15th of every month.
@Reeve
u/PQR: Okay, I think I understand. So it’s like a second home, and you have to make mortgage payments on it. That makes sense. Do you use it often, or is it just for vacations?
Lior said:
@Reeve
u/PQR: Okay, I think I understand. So it’s like a second home, and you have to make mortgage payments on it. That makes sense. Do you use it often, or is it just for vacations?
u/XYZ: We don’t use it that often, but we like to have it for vacations and stuff. It’s nice to have a place to go where we can relax and get away from everything.