Budgeting and Controlling Finances

**WildChild** · 03-01-2011 01:21 PM

Aside from recommending a book (shock!! Me with out a book!!!!) or radio show, I was going to suggest essentially what Seeker did. This really is the fastest way to get your debt paid off.

Don't just tell the cable company that you want the cheapest package, that won't be THE cheapest thing they have. Ask what it costs for local stations only. Take a good look at your internet service. Are you paying for the extra super dooper speed? What is the most basic service you can get? Can you package it with your phone or cable for a discount? Same thing with telephone. Are you paying for telephone internet? Take a good look at your usage and lifestyle choices. Do you really need all of it? Unless you have an on line business or are some sort of executive, you don't NEED most of the bells and whistles. Seriously yourphone is a communication device, all you really need to be able to do is make calls (and maybe texting since you can't stop others from texting you). Cut it all back.
Take a good look at your car insurance. Is your vehicle paid off? If so get liability and uninsured motorist coverage. Shop around there is a huge difference in what companies charge. Just because they were cheapest for your parents doesn't mean they will be for you. They each have a different target market. If you are a low risk driver, a company that is targeted to higher risk drivers may cost you more than one targeted to low risk drivers and vise versa. If you package your renters coverage with your car coverage, you will get a discount.

**Cyndie32** · 03-01-2011 02:46 PM

couldn't have said it better myself seeker. i am 43 years old and was about 10k in debt three years ago. (not including my mortgage). i worked the plan you speak of and today, three years later, all i have left in one credit card with about 1k on it. it was hard but i did it. just like anything else in life it takes time and persistence.

**SomiticPit** · 03-09-2011 10:34 PM

Thank you all sooooo much for your advice! Since I have originally posted this thread, I have been keeping a small notebook in my purse where I track my daily spendings (My goal is to try NOT to spend ANY money at all! Of course this is unrealistic considering I need gas and food etc...but it helps to keep that goal in mind when I'm in the store and I suddenly feel like I need something totally unnecessary, like a magazine or candy bar. I feel better when I can say, no to those things and I feel like I'm closer to reaching that goal)

I also track my daily income (I am a server so I work for tips). At the end of my shift, I write down what I made so that at the end of the month, I can add it all up to get a monthly income.

I also have a simple budget, nothing fancy, that I use. I have my items organized into AUTO, HOME, ENTERTAINMENT, FOOD, etc... The Budget and the Daily Spendings sort of go together, because it's so much easier for me to go through and add up what I spent throughout the month and then put the total on the budget page. I don't stress about tracking every penny, because my "Budget Book" is a helpful guideline, and definitely something I do not want to stress about. (If I stress about my budget, I'll give up on it)

I have successfully kept track of all of November and December, and have slacked on February and now trying to get back in the habit this month (march)! But since I have been doing my "Budget Book" I have been able to catch up on a few bills. Today, I was able to treat myself to the salon (hair and nails) =))))

But this has really helped me and again I appreciate all of your advice. I will be sure to check out Dave Ramsey, sounds interesting!

**Seeker_Advice** · 03-10-2011 08:06 AM

He too has an "envelope" program similar to the one that you have in place and HE still uses his everyday....twenty some years later!

He's also a multi, multi millionaire with a "small business" of over 300 employees. Yet he still follows his own advice everyday.

Assuming it's worked for millions of others, I assume it will work for you and you may learn little things that you can apply to your own program to "supercharge" it.

From someone who has never had much debt or lived on more than 70% of his own income, I wish you the best!