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italvic | We take home 3000 a month and have 2100 in bills and cant save money-what are doing wrong? |
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 |
 
bljzzgrl
|
Ok, after bills you have $900 per month, correct?
Do those bills include: Food, Rent, Utilities or just credit card and personal loans?
Do you have a budget? Do you stick to it?
Try starting small with an auto transfer twice a month of $10 to a savings account.
Then work up to 10% of your paycheck going into savings. |
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RunAmuk4Fun
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Not putting money in savings FIRST. Get that out of the way and then you will be forced to live on what is left. |
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Cadillacman
 |
What you are doing wrong is two-fold. 1) Too much debt. 2) Not enough income.
There are only 2 ways to correct this. 1) Lower the debt. 2) Increase the income.
Since you don't have any money to lower the debt, the only solution left is to increase the income. Sounds like someone needs to find a second job. Get some more income coming in so you can pay the debt down.
And, please!, when you get more income coming in, don't go out and make new debts. Learn to pay cash or do without until you can save up enough cash to pay for what you want. |
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JB
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I'm betting you don't have a written budget. Most people don't. That means that your money is controlling you instead of you controlling your money.
Think about your lifestyle. Do you eat out a lot? Is the spontaneous buy part of your spending habit. Where do you buy your clothes? Think about where you spend money then cut some of it out.
Get on a written budget. Include a save column, and a blow column. People always blow money so it may as well be in the budget. People don't save that that has to be in the budget like a bill. Stick to your budget and you will save money.
You initial savings should be a 1000 dollar emergency fund. Life happens.
Then tackle those bills. Stop using credit cards if you use them. Start paying more on your debts until you know them off. |
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Doctor Deth
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are you counting food, gas and entertainment as "bills"? - it must be going somewhere |
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Dogs Mom
 |
It really depends on how you use the 2100 dollar each month. What is your rent cost, insurance, food, gas, and extra expenses? You might be able to cut down some of the expenses and put some money towards your saving. I would recommand to put the money in your 401K, IRA, and CD. |
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Predatorprey
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Your not putting yourself first on the list who you pay first.
Your paying everyone else, but yourself.
Budget your income where you take out 5 to 10% of your savings out first.
Then you pay the bills with the rest. |
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miko
 |
Well without knowing how much you pay for rent,utilities etc I think it is easy to say that youare living way beyond your means. Perhaps it is time to take on a second job. |
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Flopyi Ears
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You have to start thinking S-M-A-R-T. What kind of cutbacks can you make? For example: I drink bottled water. Now at $1 a bottle on something that covers over 65% of our planet is not smart. So I bought one of those water filters that screw into your faucet. I have bottles that I refil over and over again. I take them to work. Do you have a lot of small appliances around that house that are always on? I cut my electronic bill almost in half by unplugging all the clock radios and night lights. I also bought some of those florescent bulbs that look a lot like a regular bulb. These things use 80% less electricity than regular bulbs. You would be surprised, but these small things add up. I know I was spending money on the water filter and energy efficient bulbs but these things will pay for themselves in a month providing they pertain to you. If you really need the money right away start cutting back on your food costs. Romain noodles cost a dime and they taste just as good as campbells chicken noodle that costs $130 a can. Ok no chicken in romain noodles, but you are probably just missing about 4 tiny pieces of chicken. .Before you know it you will be ahead. And remember you have to start thinking S-M-A-R-T! |
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doreen k
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I like RunAmuk's answer. You have to pay yourself first and live on the rest.
But, it's also possible that you are not taking into account how much you spend on variable expenses. There are things that most of us do not necessarily think of as "bills" but have to be paid anyway.
You have to track your expenses for everything you spend money on. For example, how much did you pay for vehicle repair and maintenance over the past 12 months? And, how much did you spend on gifts over the past 12 months? Medical bills?
Figure out your average monthly costs for the variable expenses you have and when you get paid, transfer the same amount into a special savings account dedicated only to variable expenses. Then, when you car needs repairing or someone chips a tooth, you'll have that money set aside for these types of bills.
Best wishes on taming your budget! |
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Benzo
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Does bills include groceries and gas? do you eat out at all? not enough info. |
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stan c
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Just open a savings account and treat it like a bill and pay it every month or whenever you get paid. If you have a lot of credit cards, closed all but 2. Try to get a consolidation loan at the bank. The magic work is control. |
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