Tips for Budgeting

This is a great post, definately one to print off and use for a good guide for someone trying to get it together like me.

Wow, Anthony, nice thorough post. The latter part of your post about student discounts and other service was especially of interest! thanks a bunch :)

I think one thing I need to start doing is paying bills on time, I would save a ton if I did not have the little late fees that run along with being late. This is especially true for the utilities, they are monthly, I have the money to pay them, but almost always put them off till the last minute, just laziness on my part and it costs me more money everytime.

I don't have the trouble with paying bills on time just what I can cut out of each month that we don't need so that there is enough to cover them. It seems everytime though that I come up with a solution something has to go wrong. As of recently my job of years and years suffered from the economy and has cut work down to almost nothing for most employees and nothing for me. Its disturbing but I hang in there knowing that we have made it through worse.

It seems, at times, when I have have bills 'under control', something goes wrong: something happens to the car, or an unexpected...anything. Then I feel like I'm back to 'square one'.

Gosh SD are you my twin or something? This seems to be the thing that always happens to me. I get so discusted. I was just cruising along really well and had everything caught up after months of hard work and was about to start rebuilding our depleted savings before fall taxes,winter fuel, and all the fun things that come with that and boom. My company let go the highest paid workers and kept just the Amish workers that get paid less than us. I know I can resort to unemployment but due to an auto accident last year my unemployment sucks ($42 weekly). Seems like since this darn accident things have been rolling down hill quickly.

Remember there is the 13 week extension for everybody that was collecting unemployment. You many want to look into it if your unemployment is running out or close to running out. You should be eligible for the additional 13 weeks.

Huh my work told us we couldn't collect. My sister and I have barely workes this year and when we inquired to our boss about unemployment he said there would be no way we would have enough made this year. I told him we would still be on last years claim and he said it wouldn't matter we still would have had to make so much this year. Is this correct?

I believe that it pulls some wage from this year, it goes back like six quarters, but the additional 13 weeks goes on past uc claims so if I were you I would file for it. Have you exhausted your claim yet? There are people who have not collected in a while and have been eligible for this extra money, I would call and see anyway.

You can go on "http://www.dli.state.pa.us/landi/cwp/view.asp?a=152&Q=248601" and read the fact sheet and the faq's they answer anything you want to know.

Thanks for the link. I haven't collected since going back to work in the spring and I didn't exhaust my claim. It was only like $42 a week. I am still debating on the other thing we spoke of. The docs do not want me to go back to work and are advising any use of my hand is going to cut down on the time I have to keep using it. I have just been against young people sitting around on SS. The atty keeps asking if I have considered and I keep saying not yet.

You really should consider going for social security if you feel that you could not go back to work doing the same thing that you were doing or if you feel that you can not do anything that would let you make the wage that you did before.

I know but I also know what people will say. My sister already took a stab at it and I didn't even tell her what I was considering. They want me to get it started before this disease hits the later part of stage 3. I am already at the beginning of three. I guess if I don't think about it or the SS I can block it from my mind. I am seriously having a hard time dealing with it. My two fingers are already bended down to my palm and if I pull them straight it hurts like hell.

A second job or something, what do you suggest that people do to make more money?

Some people in fact are already working a second job or have children and can not do this. A lot of companies are freezing wages with out giving raises due to the economy so that pretty much takes out that option for most. In any case you would still need budgeting. Without it you can easily put money into the qwrong places and maybe over spend, even on needed items. I believe having it all worked out in front of you gives you the best option to see where any extra money lies and where it could bew properly placed.

I agree with you fireyone and when do you have time to spend with your family if you are working with two or three jobs. Kids need their parents around sometimes too.

I have enough to do working full time and doing all the weekend work that goes with raising a family, laundry, cooking for the week, etc. I would not have time for another job. Nor do I really want one.

Thats why the isea whoever posted upset me. How much is too much????

I try to do a little here and there to make a few bucks but don't have alot of time to be doing that either, I have a few hours an evening to get online and do some of this, but to commit to another job would be impossible.

I get on line alot more now since I am not working. I try to keep the money put up but most recently winter heating came and took it all. Guess it will be Christmas now. Always something...right GN?

hey fireyone, I want to direct you to the new post that I put in this forum, go check out the new bill pay, it is awesome.

hey thanks I will head there now. Thats for the info.

Let me know if you can't find it, you are pretty good with the forums, I think you will be okay.

For goood budgeting you should have a good financial planning your spending should be less then what u earn.you should pay ur credit card before it gets due otherwise u have to pay very high interest rates. u should do some pension plans.very good saving plans whatever u earn atleast 15 to 20 % you should keep it aside. insurance coverage must be there so in case of accident or anything it ll be a great support for you.
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aby

Creating a budget has always been important, whether for single people or families, but in times of tough economic issues when there is not a lot of job security, it is even more important. Budgeting for savings may just save the roof over your head, even though that money may have been set aside for a vacation.

Thank you For the tips.

i think budgeting is required in each walk of life whether one is a child, young man or old guy.it need to be understood that in each phase of life budgeting is really a part of the day to day activity.

what i personally beleive if the child learns the habits at an early age then it becomes easy to manage the big corporations (even house also) in the next part of the life.so i beleive that it is responsibility of the parents to teach their children at an early age the art o budgeting...... :wink:

ALSO....I know people are struggling, financially, however.......when you get paid, I would suggest to pay YOURSELF first before you pay your bills. I mean, just put away a few dollars weekly/every other week. You'll be surprised how this can add up.

it is OK that one should put a savings habit but need to be careful that they should only contribute 10 % of their money for savings otherwise you will end up with the more tight on your balance sheet many a times it may happen that one is trying to save extra and missing all their regular needs. :wink:

It is always good to plan your budget but seldom a post is seen like that. It is informative and helpful as well.

But it really becomes tough when any one of the person from your family is only earning member.At that time it really becomes difficult to manage everything so one should think in a more deeper aspect when considering a brand new purchase.

But it becomes lot more smoother to the whole family when one is debt free.

Yes, it is really difficult to manage things when there is only one member of your family is earning. In those circumstances it is better to give priority to the family and make a purchase that is useful for the whole family and just not an individual.

I think this is a fantastic post. I realize I keep saying this when I come across great posts, but seriously this site is awesome! Full of useful information. Honestly, sometimes I think its good to see tips like these to get you in "full budgeting mode". I tend to fall off the wagon sometimes.

Life sometimes throws curves at you too. Like SD was saying a few pages back. Something comes up & you are back to square one. Unfortunately, this is going to happen. That is why we need to plan for life's occurences. It IS hard to do. Very hard to do. ESPECIALLY with only one wage earner in the family & add kids to that and you have alot of pitfalls that can ruin even the best of budgets. [not saying kids are bad, just can be costly, you know...]

Something else that may help people. I have a 'change jar' that I just throw pennies, nickels, etc. in once in a while. I've been doing this for a while and you will be surprised how this can add up!! Some people may think "it's just a few pennies" but,...when you 'commit' to doing this for a while, you have alittle bit of a nest egg!!!!!!!!! :) This is my helpful tip!!

Once you prepare your budget plan, make sure you diligently review it to avoid dissuading from the budget plan.

If people are looking for a second job, then they can become affiliate marketers and promote/sell products or services online.

Prepare a realistic budget plan in accordance with your financial situation and avoid dissuading from it.