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Sigh The Color Red
I am just so no one else has this problem. But it seems like the last couple years all i am doing every day is watching my bank account like a hawk hoping it doesn't go into the red. My bank has overdraft protection but it seems like i end up paying 28$ fees for every overdrawn till i finally get my paycheck. Thankfully a couple parents paid in cash so i was able to spend some money, but my fridge is empty and i need to feed my family now! What am i supposed to do. I have tried my best to manage our money but it just never seems to work out. I loathe it all
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Can you take on any more kids?
Do you have your parents prepay?
Do you feed your dck or do the parents?
If they are paying late are you enforcing late fees?
These are a few things that could help in a dc situation. If your situation is as bad as you say you may want to consider a change in careers or taking on a part time job at night until you can sort out your financial situation. You could waitress, bartend, or anything to help make more money. We have often had my dh work 2 jobs while I worked ft one job to cover the costs of dc and life in general! For us it was very difficult because he worked EVERY SINGLE WEEKEND! And every other of those weekends he worked from 6am-3pm, then went back to work his second job at 6 pm til 12am! Needless to say, my house was a mess and I was stressed to the gils having my two kids almost all weekend long by myself while trying to clean, do laundry, etc. It just wasn't worth it for my piece of mind! Lol. That was when I decided that I would quit working away from home and do this! I love it! We save so much money and now I can pay our bills on time and be home with my kids. The choice was a win win for me! Good luck!!
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I mean this way dIfferent than its going to sound I'm not a heartless witch.
First of all, stop paying bills. If the money to cover it is NOT already shown as available
Do not spend it.
Buy food first. No ready to feed foods. Lots of beans and pasta
Then pay heat water & rent. Everything else get rid of. Data plans, cable, subscriptions
But never float checks.
Because in today's world I can take a pic of your check, deposit it online instantly and if your check doesn't clear you get dinged.
Overdraft protection is not a loan. It should never be part of your strategy
You're saying, she has no idea how desperate I am. Believe me I have BEEN there. And it was UGLY. And SCARY. and embarrassing.
One dollar at a time is the only way out. And 28$ a pop fees are not an option.
I send you prayers.Comment
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Is there anything you can cut back on or out completely? Cable? Cell phone? You don't always have to give it all up, just cut back the plans to make them more affordable for you.
I don't know much about pre-pay as someone else has mentioned, but if that is something that does not require you to give funds back for missed days or holidays, then maybe you could do that. Of course it would mean much more planning on your part, since once the money is gone, it's gone!
Can you take on another child, even part-time? I struggle with this one myself. Taking on an extra child would be great for the bank account, not so great on me though, so you have to find that balance. Maybe a part-time retail job or something fairly non-stress after hours or even 1 day on the weekend?
Sorry you are stressing through this...hope you find something that helps you soon! :hug:Comment
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I have been there too, take an honest look at your budget. Cut stuff out, it's hard sometimes but there is ALWAYS something you can live without. Only buy groceries that will go a long way. Like the PP said, beans, pasta...make foods that go a long way. I can make either a family pack of chicken thighs or a ham when it's on sale and make so many leftover meals with it. If you plan meals out for the week and buy what's on sale you can save. We hardly ever eat out. I am also a heavy couponer, if you are interested in learning let me know Good luck!
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I Would (have)
1. Put the word out there that you loooooove extra garden goodies, deer meat, freebies, and stuff the parents friends and family bought but don't like. I still get a ton of food this way. Why waste? Parents bring me organic produce and eggs, hubs parents buy tons of boxed foods and cereal they decide they don't want, and a neighbor of mine must have a cereal tree because he brings me tons! All of my hunting families gift me bags of meat when they go. We love it, and its processed at a packing house
2. Cut non essentials to the bone. Hubs needs to take his lunch to work. Go to hillbillyhousewife.com for $80 menu plans and tons of good recipes.
3. Find stuff to sell. Consignment is amazing. Old kids clothes and toys will put some extra grocery money in your pocket.
4. I have taken in laundry on Saturdays, cleaned houses weekends and evenings, taken kids evenings and weekends.
5. If things are tight only one of us handles money and pays bills. During good times we both have cash and a debit card, but if things are tight hubs handles all outgoing cash flow so we don't both spend "just" $20 and end up with $30 in fees
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We have been there also. A few years ago we changed from Satellite tv to cable, I blocked all text messages on our phones etc. It did help for a while but, ultimately I knew we needed to change my working situation. I was spending about $50 per week in gas on top of paying for dc and all the other bills. There were times that I had $80 to buy groceries for our family of 3(and I was pregnant) for 2 weeks!! I would sit at work and check the sales ads and my coupons to get the best deals. I did have to go to 4 different stores sometimes but, our money went a lot further. You will get through it, I promise!:hug:Comment
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I understand completely. I have been in your shoes, and I know how uncomfortable they can be. We are still not out of the woods yet, but things are getting better. When I quit my 'day job' to start babysitting and stay at home with my kids our financial situation was pretty good. My husband made a lot of money and I just had to pull in enough to cover a few bills. Six months after I began babysitting, my husband became permanently disabled. He brought in 3/4s of our income. While we were lucky enough to have disability insurance, it isn't enough to cover our bills. We have struggled since then, but there is light at the end of the tunnel.
I agree with the poster than said stop floating checks. It will cost you more in the long run with bank fees than paying a late charge.
I don't know your situation but I will suggest some things that have helped us. And just so you know, it been up and down for us the entire time. We will do well for a while and then I get frustrated at working my tail off and not having anything and go spend money I shouldn't. So don't beat yourself up. Just get back to the budget and move on. And if there is a spouse in the picture that will make a big difference in how you do this also. My husband is a spender. We had a rough go in the beginning, but he is slowly getting on the thrifty train.
If you have any credit cards you can consolidate them through a reputable debt counseling agency. I have been working with one for over a year and we are due to be paid off on the credit cards in less than a year.
Write down all your expenses and your income. See how much you need to make up the difference. Then you either have to bring in that much more income or cut that from your expenses.
Call your local social services office. Even if you don't want to. There are programs you may be eligible for to help out until you can get back on your feet. You can also check with a local food pantry. Their income guidelines are often higher than food stamps. And they can help more quickly than food stamps. You may be able to go to a food pantry on an emergency basis a soon as today. And your local HEAP office can possibly help with your electric and heat. I worked in social services for 13 years. There are lots of programs that most people don't know about.
Local churches may have a fund to help with a one time payment of a bill.
As for getting a second job, try something like selling Avon if you know enough people to sell to. You can do it in your spare time and it doesn't require getting a babysitter for your own kids or working long hours. I sold it for years until my mom took it over to make a little extra money.
Ebay has been a lifesaver for us. It's less time consuming than a yard sale, and you can also do it in your free time and in the winter!
Check out all the frugal websites you can for cheap meals, money saving ideas, and general make yourself feel better because if other people can do it so can you feelings. :-)
If you have a support system such as family, friends, or church congregation talk to them. I know most people don't like to talk about finances with other people and you don't have to give details, just don't keep everything bottled up or you will go crazy. If you want an anonymous friend who will listen you can always message me.
I hope things start to get better for you soon. I'll keep you in my prayers.Comment
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I agree with everything here. You can cut back to the gills and it still won't get better unless you become extremely disciplined with how you pay bills and spend.
Up until a few years ago I was a check floater. I was a single mom with variable income from my daycare and my ex-husband who would frequently pay his menial child support late when I truly depended on that money.
Check floating was my way of attempting to balance it all out until one week I deposited a child support check - huge one, covered three months in back payments - and then I did like anyone would do and mailed off a boat load of bills I was behind on. Went and dropped a good $300 at the grocery store to boot. Well, the check bounced. Which made all the checks I had written out to everyone else bounce too. Ultimately I couldn't dig out of the hole it created with all the fees not only from my bank but every single other proprietor too - AND I still owed all the money for everything I had "paid" for. Despite my best efforts my bank closed my checking account and it took me forever to get back out of the red.
My best advice if you're struggling?
Ditch your checking account completely.
Run your checks through a savings account and deal exclusively in cash. Even though I've been able to reopen a checking account for a couple of years now I've not gone back to it. It just gets too hairy for my liking and the residual fear and anxiety one would cause me wouldn't be worth it. I have a second savings account I can transfer funds into and use direct deposit for my bills to pull out of that one. I can run to the bank on Saturday morning if I need a large amount and have an atm card (read, not debit) to pull smaller amounts out through the week or in the event of an emergency.
I know where every penny I actually have is and I don't have to rely on the "promises" of other peoples checks. I don't count a check as cash until it's cleared my savings and I can actually use it to disperse as I need to.Comment
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a written budget will help and try the envelope system . put the cash is the envelope and when it is gone it is gone. those $1 sodas at McDonalds add up
See if you qualify for any services. food stamps, food bank etc
If you do not cook start. beans are the cheapest protein. Eggs are cheap also. We all eat too large of a serving of meat That will improve your health and budget to cut back there.
I used to sell Tupperware in the evenings to help when things were tight. I also did weekend care and babysat evenings at their house. Heck if they pay a teen $10 an hour so they can go out I will do it.It:
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