Feeling the financial pinch—not sure what else to cut

[Anonymous]

Also - ChatGPT made a budget for me, listing all possible expenses and targets for them.

[Anonymous]

Anonymous wrote:OP is feeling what a lot of us will be feeling soon - we just aren't as close to the edge so don't realize it yet. The value of the dollar has plummeted, and inflation is soaring - despite the official numbers. This is what I suggest -
1 - Call up your cell phone company and internet company. Tell them you are newly poor and need to find savings. I called Verizon and reduced mine by over $50 a month each.
2 - Credit cards get paid first (after mortgage!). Try not to keep a balance on them. Other bills can wait until you pay them down.
3 - Electricity, gas, water are super expensive now (thanks Data Centers!). Be strict about their use. Act like you are in a drought - if it's yellow let it mellow. Only use dryer if necessary - clothes can be air dryed, etc.
4. Lentils for the win! Less meat is good for you. Growing up poor (then rich, then poor again), my mom would make huge batches of lentils and beans and freeze them. My sister and I joke about the bean soup but we ate it and survived.

OP here. Thanks! You get it.

My mortgage is dirt cheap; I got really lucky when I found my condo and I couldn’t do better even renting, so I’m staying put. My car is paid off so I’m not selling it, because I’d get next to nothing and would then have the added stress of figuring out transportation—I don’t live in an easily walkable area, nor near quality public transportation. I’m a teacher and make a little more than $100k after support.

I’m just in disbelief by how expensive things are all of a sudden. It’s like it happened overnight.

[Anonymous]

Anonymous wrote:Also - ChatGPT made a budget for me, listing all possible expenses and targets for them.

I’ll have to try this. I can see the statements and I know where the money is going, and it’s not on extravagance, it’s just everyday stuff. It’s groceries, and I don’t know what to cut without not having food for hungry teens. I even make my own pizza rolls, and they aren’t much cheaper to make, which is the crazy part. Everything is so expensive.

[Anonymous]

Anonymous wrote:I agree that your teens need part-time jobs. My parents barely made ends meet growing up, and my sister and I were expected to pay for everything ourselves except basic clothes and shoes by the time we were 16. It is very common.

My parents were UMC and we stopped getting allowances at 13. We were told to figure out a way to earn money if we wanted anything other than the basics.
They went way too far. I had to pay for all my AP tests, SAT, college app fees. They would have laughed in my face if I asked for homecoming money.
Teens can definitely contribute somehow.

[Anonymous]

Anonymous wrote:Also - ChatGPT made a budget for me, listing all possible expenses and targets for them.

New Poster here. I'd like to do this. What exactly did you ask ChatGPT? Make me a monthly budget where I can only spend $X and it covers utilities, mortgage, ... I wouldn't even know how to ask? Ideas? Thanks

[Anonymous]

Anonymous wrote:

Anonymous wrote:I agree that your teens need part-time jobs. My parents barely made ends meet growing up, and my sister and I were expected to pay for everything ourselves except basic clothes and shoes by the time we were 16. It is very common.

My parents were UMC and we stopped getting allowances at 13. We were told to figure out a way to earn money if we wanted anything other than the basics.
They went way too far. I had to pay for all my AP tests, SAT, college app fees. They would have laughed in my face if I asked for homecoming money.
Teens can definitely contribute somehow.

Not OP but how do people know that the teens aren't contributing. Let's assume they are and it's still not enough.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I agree that your teens need part-time jobs. My parents barely made ends meet growing up, and my sister and I were expected to pay for everything ourselves except basic clothes and shoes by the time we were 16. It is very common.

My parents were UMC and we stopped getting allowances at 13. We were told to figure out a way to earn money if we wanted anything other than the basics.
They went way too far. I had to pay for all my AP tests, SAT, college app fees. They would have laughed in my face if I asked for homecoming money.
Teens can definitely contribute somehow.

Not OP but how do people know that the teens aren't contributing. Let's assume they are and it's still not enough.

OP here. I should have added that they do have babysitting and little side jobs at 13 and 15, but we haven’t had luck with 15yo finding an “actual” job since everyone wants to hire older kids, it seems, and the jobs that will hire at 15, are fully staffed! They do have their own cash for things like going out with friends, buying “wants”, etc.

[Anonymous]

1. All new clothes are from the thrift store or yard sales for everyone. If the kids want brand new clothes, they can buy them themselves.
2. Kids need to borrow Homecoming dresses from a friend. If they are a unique size, that rewear the same one. If kid is still growing, but used homecoming dresses made of stretchy fabric.
3. You cut everyone’s hair.
4. No make-up.
5. I know not everyone gets good light, but if you have access to any kind of land, now you garden. Buy a few organic vegetables one week and save the seeds. For example, the seeds from one organic bell pepper will be more than enough for next summer’s garden. Replacing any grass you can with a vegetable garden will also save on mowing costs.
6. Stop all kid activities that require any fees or uniforms. The kids now work ( or look for work) as their primary activity.
7. Cut gym memberships. Now you walk and garden for exercise.
8. Cut that last streaming service.

I personally have done everything from my list except #6, and that was because a family member paid for the activities. It’s really, really hard. I’m sorry you’re going through this.

[Anonymous]

Hang out on Mr money mustache website for good ideas.

[Anonymous]

Oh, I forgot my best tip: you acquire all of your Christmas presents for yourself from Free Little Libraries. Every time you’re driving past a FLL and your kids aren’t with you, you stop and look. Pull like-new hardbacks that vaguely interest you. Replace them with an old book from the stack you keep in your trunk for this purpose. Looking all year, I could get half a dozen adult hardbacks in mint condition. I’d wrap them for Christmas morning, read them once, then leave them in my car to restart the process the next year. My kids thought I really loved reading.

[Anonymous]

Anonymous wrote:1. All new clothes are from the thrift store or yard sales for everyone. If the kids want brand new clothes, they can buy them themselves.
2. Kids need to borrow Homecoming dresses from a friend. If they are a unique size, that rewear the same one. If kid is still growing, but used homecoming dresses made of stretchy fabric.
3. You cut everyone’s hair.
4. No make-up.
5. I know not everyone gets good light, but if you have access to any kind of land, now you garden. Buy a few organic vegetables one week and save the seeds. For example, the seeds from one organic bell pepper will be more than enough for next summer’s garden. Replacing any grass you can with a vegetable garden will also save on mowing costs.
6. Stop all kid activities that require any fees or uniforms. The kids now work ( or look for work) as their primary activity.
7. Cut gym memberships. Now you walk and garden for exercise.
8. Cut that last streaming service.

I personally have done everything from my list except #6, and that was because a family member paid for the activities. It’s really, really hard. I’m sorry you’re going through this.

NP, but I always see these suggestions and they just make me roll my eyes.

Cut everyone’s hair? With what skills? I have no clue how to cut women’s hair, and I don’t think it’s the sort of thing one can YouTube, and I wouldn’t my teen (or myself) as a test subject

No makeup? I’m sorry, but I’m expected to look at least a little presentable in my professional career. Would you tell a man to skip a tie? No more suit jackets? Just wear everyday shoes instead of dress shoes? How expensive do you think basic drugstore cosmetics cost?

Gardening? It’s not free. I’m a gardener and there is an ongoing joke that you spend hundreds of dollars to save $5 on tomatoes for the summer. Water costs a lot of money. It’s a hobby, not a cost cutting measure

And for the love of god, that $15 a month Amazon subscription isn’t going to change the trajectory of OPs finances anymore than one coffee from Starbucks will, sorry to say. Everyone needs and deserves a vice

[Anonymous]

The big ones are car insurance and cell phone bills. You pretty much have to change car insurance every 2-3 years or else you’re getting ripped off. The auto insurance companies give better rates to new customers with good driving records, figuring that you’ll be too lazy to look for new quotes all the time. I’ve switched between State Farm, Progressive, and now I’m on Geico. When they start jacking up my rate too much, I’m on to the next one. There are a lot of car insurance companies out there!

As for cell phone plans, usually T-Mobile has the best deal amongst the major carriers. But you can save more by going to a prepaid plan like PureTalk or Mint Mobile.

For food shopping - try Aldi and Lidl as well as Asian/Hispanic grocery stores. I’ve found that they are the cheapest, even cheaper than Walmart. You can get good deals at the big chains (Giant, Safeway, Food Lion) but at the same time, your time is still worth something and then you have to consider the costs of gas if you’re going to Giant to get 3-4 things that are on sale cheaper and then a separate trip to Aldi for everything else. I also want to say, there’s nothing wrong with using a food pantry at a church or what have you either. Thats what they’re there for. There are unfortunately plenty of working and middle class people who are only able to stretch their food budget enough by supplementing with donated items. Especially with growing teens.

Reddit has a lot of good tips in various sub-Reddit’s. PovertyFinance has some good tips but definitely skews toward bellyaching and complaining.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP is feeling what a lot of us will be feeling soon - we just aren't as close to the edge so don't realize it yet. The value of the dollar has plummeted, and inflation is soaring - despite the official numbers. This is what I suggest -
1 - Call up your cell phone company and internet company. Tell them you are newly poor and need to find savings. I called Verizon and reduced mine by over $50 a month each.
2 - Credit cards get paid first (after mortgage!). Try not to keep a balance on them. Other bills can wait until you pay them down.
3 - Electricity, gas, water are super expensive now (thanks Data Centers!). Be strict about their use. Act like you are in a drought - if it's yellow let it mellow. Only use dryer if necessary - clothes can be air dryed, etc.
4. Lentils for the win! Less meat is good for you. Growing up poor (then rich, then poor again), my mom would make huge batches of lentils and beans and freeze them. My sister and I joke about the bean soup but we ate it and survived.

OP here. Thanks! You get it.

My mortgage is dirt cheap; I got really lucky when I found my condo and I couldn’t do better even renting, so I’m staying put. My car is paid off so I’m not selling it, because I’d get next to nothing and would then have the added stress of figuring out transportation—I don’t live in an easily walkable area, nor near quality public transportation. I’m a teacher and make a little more than $100k after support.

I’m just in disbelief by how expensive things are all of a sudden. It’s like it happened overnight.

A "cheap mortgage" doesn't mean everything, I think a lot of Americans are using that as a crutch and not realizing other expenses will go up and sometimes we need make a move, physically (move locations) or career wise to make more money. We all just can't sit in our cheap houses and expect the world to stay static.

[Anonymous]

Insurance is definitely something to look into. Change car insurance - you can raise deductibles, go Liability only, negotiate, negotiate, negotiate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP is feeling what a lot of us will be feeling soon - we just aren't as close to the edge so don't realize it yet. The value of the dollar has plummeted, and inflation is soaring - despite the official numbers. This is what I suggest -
1 - Call up your cell phone company and internet company. Tell them you are newly poor and need to find savings. I called Verizon and reduced mine by over $50 a month each.
2 - Credit cards get paid first (after mortgage!). Try not to keep a balance on them. Other bills can wait until you pay them down.
3 - Electricity, gas, water are super expensive now (thanks Data Centers!). Be strict about their use. Act like you are in a drought - if it's yellow let it mellow. Only use dryer if necessary - clothes can be air dryed, etc.
4. Lentils for the win! Less meat is good for you. Growing up poor (then rich, then poor again), my mom would make huge batches of lentils and beans and freeze them. My sister and I joke about the bean soup but we ate it and survived.

OP here. Thanks! You get it.

My mortgage is dirt cheap; I got really lucky when I found my condo and I couldn’t do better even renting, so I’m staying put. My car is paid off so I’m not selling it, because I’d get next to nothing and would then have the added stress of figuring out transportation—I don’t live in an easily walkable area, nor near quality public transportation. I’m a teacher and make a little more than $100k after support.

I’m just in disbelief by how expensive things are all of a sudden. It’s like it happened overnight.

A "cheap mortgage" doesn't mean everything, I think a lot of Americans are using that as a crutch and not realizing other expenses will go up and sometimes we need make a move, physically (move locations) or career wise to make more money. We all just can't sit in our cheap houses and expect the world to stay static.

Wait, what? What exactly are you suggesting? That the OP sell her cheap mortgage and… move into something more expensive, in order to save money? Explain how that works, please, because I’d love a bigger house.