Broke with a job lol

[D.Josey]

You never answered what you drive for $460 a month

 

[jaysrcrak]

nawtyhare- you have a opportunity to save tons of money. You just have to change the way that you pay bills a little bit.
Especially since you both get paid on the same week
Right now you and your girl dont make what you really make because you are splitting each paycheck with your bills.
In a few months of struggling you could get far, far ahead.

Instead try thisassuming your bill breakdown stays the same and not including rent, of course.)

1st- Pay your highest bills a few months in advance.
Car note($460) and your phone bill ($260)=$720/ month. Pay this up 2 months($1440). Try to do this with the first check.
2050-1440=$610 left for that two weeks- 200 for groceries=410- $100/each misc=$210 left until next week.

You are left with $610 in bills for the month(without rent)
Next 2 week check pay all the rest of the bills up for 2 months($1220)
2050-1220=$830-200 for groceries=$630- $100/each misc=$430

Excess money left over= $210+$430+$250+$250=$1140
Now realistically you are going to spend more money that will not and cannot be accounted for.
So $1140-$640=$500

$500 left at the end of the month. But you dont owe ANY bills for that next month.

Repeat the process one more time and you will end up being 2 months AHEAD of ALL your bills.
You wont have to pay bills for 4 to 5 two checks and 8 weekly checks.
You can bank close to $9000 in that time.
Lets just be conservative and say you bought some stuff and only banked $7500.

$5280 is enough to pay your bills for the next 4 months with $2220 left in the bank for emergencies.
And you can only imagine how much money you can bank with 4 months NO BILLS.

I know this example does not include your rent. But it will still work. Just eliminate your largest bills first
Play with the numbers and pay what works for you, this was just an example.
But however you do it, once you are paid up at least 2 months, saving AND spending money becomes MUCH, MUCH easier.

Or you could do it the easy way. If you already have some dough saved up, just drop $2560 and pay all your bills up 2 months.

 

[wsdesigner14]

I have kids and if there's an emergency or power outage ur phone can still work if its the phone with the cord a cordless phone won't. So that's the reason I have still have a house phone. Also like I said my carnote is 460 but I get paid a lil over 800 every 2 weeks from my first job and my girl gets paid a lil over 1000 every two weeks sometime it's a lil under so every 2 weeks we have roughly $1800 plus I have my pt job where its around 250 after taxes a week so I believe that's still in my means

I'm sorry but that doesn't make any sense. Your iPhone will work during a power outage unless it's not charged. Either way, you're overpaying for cable/internet/phone. You can get the top of the line cable and internet for around $130 a month (meaning HD, DVR, premium channels, fast internet) and home phone service shouldn't cost you more than $30-40 (high end). There's no reason to have a car payment of $460 when you're making $13 an hour. That's the first sign that you are living outside your means, the second one is each of you having an iPhone with a data plan. Not to be harsh, but what's the point of having an expensive car and phone if you are living paycheck to paycheck? Are you saving a substantial amount each month, are you putting money away for retirement, do you have any debt?

 

[ecruteakcityboy]

Damn OP.

Im 18 making $10.50/hr at the bank working full time.

My checks are usually in the 800 range w/ child support from moms adding to dat work.

I'll be making threads like these when I use up my refund check and cut my hours down to 20/wk for school though.

Do you go to school?

 

[joepac12]

U def could cut some corners op and save some money

 

[yeah]

]

This advice is not realistic

An IRA while making $7.50/hr? Save almost 80% of his check? What planet do you guys live on?

You can start an IRA with as little as $20/mo. Saving 80% of any check takes a lot of discipline and frugality, but $20/m is manageable. I started my first Roth IRA and while I was making $7.75/hr. (Medical expenses messed up my budget and I had to get rid of it, but I plan on beginning a new one soon.)

 

[flebronhaters]

This advice is not realistic

An IRA while making $7.50/hr? Save almost 80% of his check?

What planet do you guys live on?

seriously, what is he going to do with 30 dollars...for 2 weeks???...couldn't even make it out of the day with that ..

 

[thug]

]
You can start an IRA with as little as $20/mo. Saving 80% of any check takes a lot of discipline and frugality, but $20/m is manageable. I started my first Roth IRA and while I was making $7.75/hr. (Medical expenses messed up my budget and I had to get rid of it, but I plan on beginning a new one soon.)

Question about Roth IRA: in your original post you said it would benefit him in his 40s. How would that work? I thought you can't withdraw from it until you're 59 and a half years ago unless you want to get hit with penalties

 

[wsdesigner14]

Where can you open an IRA with $20? The minimum is usually $1000 (or you can do monthly deposits of $100 but $20?).

 

[nawghtyhare]

I have kids and if there's an emergency or power outage ur phone can still work if its the phone with the cord a cordless phone won't. So that's the reason I have still have a house phone. Also like I said my carnote is 460 but I get paid a lil over 800 every 2 weeks from my first job and my girl gets paid a lil over 1000 every two weeks sometime it's a lil under so every 2 weeks we have roughly $1800 plus I have my pt job where its around 250 after taxes a week so I believe that's still in my means

I'm sorry but that doesn't make any sense. Your iPhone will work during a power outage unless it's not charged. Either way, you're overpaying for cable/internet/phone. You can get the top of the line cable and internet for around $130 a month (meaning HD, DVR, premium channels, fast internet) and home phone service shouldn't cost you more than $30-40 (high end). There's no reason to have a car payment of $460 when you're making $13 an hour. That's the first sign that you are living outside your means, the second one is each of you having an iPhone with a data plan. Not to be harsh, but what's the point of having an expensive car and phone if you are living paycheck to paycheck? Are you saving a substantial amount each month, are you putting money away for retirement, do you have any debt?

im talking about my kids being at home and me not being at home and trying to get in contact with me or the police or just some type of emergency
but i aint tryna convince u whats best for u. but its whats best for me
and yes i already put money away for retirement i have had and ira since i was 18 my girl had one when she was 21or 22
also i dont live check to check BUT i do feel broke sometimes
and its not because i cant buy things my kids live very comfortably
but i do see things that i myself may want and i put the needs of my family before mine thats all.
and thats what i meant by broke. not i literally dont have any money and broke every week
and i pay 460/ month for my car note because i choose too
my my payment is ACTUALLY ONLY 230 BUT
i want to pay it off sooner so i double down my payment so its always 460.
thats why i said my money is my girl money every thing we do we do together
OUR money goes into everything
i have a year and a half left on a 2012 impala
by the time 2015 my car will be paid off and i will be getting another car by that time
and no i dont have any debt that i owe
i also have another account for my kids set up for their college fund each paycheck money is direct deposited straight into it.
thanks for all the advice though i appreciate it whether i agree with u or not

 

[yeah]

Question about Roth IRA: in your original post you said it would benefit him in his 40s. How would that work? I thought you can't withdraw from it until you're 59 and a half years ago unless you want to get hit with penalties

That's only half true. You can actually begin withdrawing money from a Roth IRA after 5 years, without pentalty and for any reason you wish. The only thing that sucks about it is that you don't have access to any of the yield that you've gained - you can only withdraw from money you've contributed. Still, there are plenty of work arounds you can use to withdraw your money from a Roth IRA earlier than age 59. Home purchases, medical fees, tax fees, and college expenses all allow for early withdrawl, without pentalty or a sacrifice in the yield acquired.

Where can you open an IRA with $20? The minimum is usually $1000 (or you can do monthly deposits of $100 but $20?).

Mine was through Washington Mutual. The exact amount I paid was like $25.72 or something, but that wasn't the bare minimum (this was in 2011.) I'm sure if one shopped around enough, they would be able to secure an even lower monthly payment. Since Roth and other IRAs are so crucial to banks, I'm sure many are desparate to open new accounts.

 

[andycrazn]

I have kids and if there's an emergency or power outage ur phone can still work if its the phone with the cord a cordless phone won't. So that's the reason I have still have a house phone. Also like I said my carnote is 460 but I get paid a lil over 800 every 2 weeks from my first job and my girl gets paid a lil over 1000 every two weeks sometime it's a lil under so every 2 weeks we have roughly $1800 plus I have my pt job where its around 250 after taxes a week so I believe that's still in my means

I'm sorry but that doesn't make any sense. Your iPhone will work during a power outage unless it's not charged. Either way, you're overpaying for cable/internet/phone. You can get the top of the line cable and internet for around $130 a month (meaning HD, DVR, premium channels, fast internet) and home phone service shouldn't cost you more than $30-40 (high end). There's no reason to have a car payment of $460 when you're making $13 an hour. That's the first sign that you are living outside your means, the second one is each of you having an iPhone with a data plan. Not to be harsh, but what's the point of having an expensive car and phone if you are living paycheck to paycheck? Are you saving a substantial amount each month, are you putting money away for retirement, do you have any debt?

im talking about my kids being at home and me not being at home and trying to get in contact with me or the police or just some type of emergency
but i aint tryna convince u whats best for u. but its whats best for me
and yes i already put money away for retirement i have had and ira since i was 18 my girl had one when she was 21or 22
also i dont live check to check BUT i do feel broke sometimes
and its not because i cant buy things my kids live very comfortably
but i do see things that i myself may want and i put the needs of my family before mine thats all.
and thats what i meant by broke. not i literally dont have any money and broke every week
and i pay 460/ month for my car note because i choose too
my my payment is ACTUALLY ONLY 230 BUT
i want to pay it off sooner so i double down my payment so its always 460.
thats why i said my money is my girl money every thing we do we do together
OUR money goes into everything
i have a year and a half left on a 2012 impala
by the time 2015 my car will be paid off and i will be getting another car by that time
and no i dont have any debt that i owe
i also have another account for my kids set up for their college fund each paycheck money is direct deposited straight into it.
thanks for all the advice though i appreciate it whether i agree with u or not

did you get that near MSRP? ive been seeing manheim selling em below 10k with less than 20k miles on em. but these transaction requires all cash

 

[andycrazn]

I have kids and if there's an emergency or power outage ur phone can still work if its the phone with the cord a cordless phone won't. So that's the reason I have still have a house phone. Also like I said my carnote is 460 but I get paid a lil over 800 every 2 weeks from my first job and my girl gets paid a lil over 1000 every two weeks sometime it's a lil under so every 2 weeks we have roughly $1800 plus I have my pt job where its around 250 after taxes a week so I believe that's still in my means

I'm sorry but that doesn't make any sense. Your iPhone will work during a power outage unless it's not charged. Either way, you're overpaying for cable/internet/phone. You can get the top of the line cable and internet for around $130 a month (meaning HD, DVR, premium channels, fast internet) and home phone service shouldn't cost you more than $30-40 (high end). There's no reason to have a car payment of $460 when you're making $13 an hour. That's the first sign that you are living outside your means, the second one is each of you having an iPhone with a data plan. Not to be harsh, but what's the point of having an expensive car and phone if you are living paycheck to paycheck? Are you saving a substantial amount each month, are you putting money away for retirement, do you have any debt?

im talking about my kids being at home and me not being at home and trying to get in contact with me or the police or just some type of emergency
but i aint tryna convince u whats best for u. but its whats best for me
and yes i already put money away for retirement i have had and ira since i was 18 my girl had one when she was 21or 22
also i dont live check to check BUT i do feel broke sometimes
and its not because i cant buy things my kids live very comfortably
but i do see things that i myself may want and i put the needs of my family before mine thats all.
and thats what i meant by broke. not i literally dont have any money and broke every week
and i pay 460/ month for my car note because i choose too
my my payment is ACTUALLY ONLY 230 BUT
i want to pay it off sooner so i double down my payment so its always 460.
thats why i said my money is my girl money every thing we do we do together
OUR money goes into everything
i have a year and a half left on a 2012 impala
by the time 2015 my car will be paid off and i will be getting another car by that time
and no i dont have any debt that i owe
i also have another account for my kids set up for their college fund each paycheck money is direct deposited straight into it.
thanks for all the advice though i appreciate it whether i agree with u or not

did you get that near MSRP? ive been seeing manheim selling em below 10k with less than 20k miles on em. but these transaction requires all cash

 

[nawghtyhare]

did you get that near MSRP? ive been seeing manheim selling em below 10k with less than 20k miles on em. but these transaction requires all cash

a lil under

 

[wsdesigner14]

im talking about my kids being at home and me not being at home and trying to get in contact with me or the police or just some type of emergency
but i aint tryna convince u whats best for u. but its whats best for me
and yes i already put money away for retirement i have had and ira since i was 18 my girl had one when she was 21or 22
also i dont live check to check BUT i do feel broke sometimes
and its not because i cant buy things my kids live very comfortably
but i do see things that i myself may want and i put the needs of my family before mine thats all.
and thats what i meant by broke. not i literally dont have any money and broke every week
and i pay 460/ month for my car note because i choose too
my my payment is ACTUALLY ONLY 230 BUT
i want to pay it off sooner so i double down my payment so its always 460.
thats why i said my money is my girl money every thing we do we do together
OUR money goes into everything
i have a year and a half left on a 2012 impala
by the time 2015 my car will be paid off and i will be getting another car by that time
and no i dont have any debt that i owe
i also have another account for my kids set up for their college fund each paycheck money is direct deposited straight into it.
thanks for all the advice though i appreciate it whether i agree with u or not

No ill will with my questions, I was just curious as to why you were paying so much for those things. I can't imagine having children at this time and it appears like you are putting them first which is very commendable. Still, I believe you could find a much better deal on cable/internet/home phone than what you're paying. AT&T always has deals for new customers (and you can get those if you threaten to cancel).

I'm very lucky that I don't have car payments, but I just wouldn't be able to justify that type of monthly payment for a new car if I can't really afford it.

 

[Top Boy]

Do you go to school?

Of course my G.

Finance major

 

[bhergh]

Nawtyhere I thought this was nomoney18's thread but I guess u threadjackrd and now I'm confused since apparently u make more money but ur car note still seems high when u should have gotten something cheaper and practical and paid off... reminds me of this guy I know that goes to asu almost homeless yet he bought a nissan 350z. I think he thought at the time he was gonna get a scholarship but didn't till last year

 

[nawghtyhare]

im talking about my kids being at home and me not being at home and trying to get in contact with me or the police or just some type of emergency
but i aint tryna convince u whats best for u. but its whats best for me
and yes i already put money away for retirement i have had and ira since i was 18 my girl had one when she was 21or 22
also i dont live check to check BUT i do feel broke sometimes
and its not because i cant buy things my kids live very comfortably
but i do see things that i myself may want and i put the needs of my family before mine thats all.
and thats what i meant by broke. not i literally dont have any money and broke every week
and i pay 460/ month for my car note because i choose too
my my payment is ACTUALLY ONLY 230 BUT
i want to pay it off sooner so i double down my payment so its always 460.
thats why i said my money is my girl money every thing we do we do together
OUR money goes into everything
i have a year and a half left on a 2012 impala
by the time 2015 my car will be paid off and i will be getting another car by that time
and no i dont have any debt that i owe
i also have another account for my kids set up for their college fund each paycheck money is direct deposited straight into it.
thanks for all the advice though i appreciate it whether i agree with u or not

No ill will with my questions, I was just curious as to why you were paying so much for those things. I can't imagine having children at this time and it appears like you are putting them first which is very commendable. Still, I believe you could find a much better deal on cable/internet/home phone than what you're paying. AT&T always has deals for new customers (and you can get those if you threaten to cancel).

I'm very lucky that I don't have car payments, but I just wouldn't be able to justify that type of monthly payment for a new car if I can't really afford it.

naw man its cool no worries
u know i tried to get a better deal on the home phone and internet but im curently in the middle of my contract with comcast (i have home phone/internet/cable with them) and when i called to adjust some things they said i could get my bill lowered by about 50-60 BUT would end up restarting my contract if i changed anything so i plan to just ride it out then probably make a switch
and if i readjust anything(take advantage of the promotion) it will renew my contract so i just want to ride it out. my bill was cheaper but after my first year the promotion price ended which caused it to go up

 

[12gage57]

im surprised noone has said to wait tables, that's what i've done the last few years among other investments and hustling at a restaurant on a weekend you can make that 140$ check in one single work day. And not even have to wait for a check you cash out every day. not to mention it's easy, it gets harder if you work at nicer places that serve alcohol and appetizers but the place im at now metro diner is a cakewalk you just get a drink for people and put their order in a computer. gotta work smarter not harder, I can't imagine that it would be impossible to find a serving job somewhere in new york but then again i've lived in florida my whole life