Fill this out and post back with a more detailed budget:

http://www.daveramsey.com/tools/budget-forms/

(Use the long detailed one).

When you see your expenses in black and white, it's a lot easier to tackle them.

$1500 - food/gas/misc. household expenses
$200 - personal expenses (hair cuts, clothes, etc.)

This is why you have no money.

Anonymous wrote:what is the interest rate and term on your car payment?

is your income enough that you can refi into a 7 year fixed rate 2% loan - unless your current rate is lower, I might be inclined to do this to free up cash flow.

Caveat - we drive our cars till they die, so for me I don't think this is a bad move- if you keep yours shorter time period (which you shouldn't) might be bad idea. try a credit union like SECU

0.9% with 36 months left on the 60 months - we will drive it until it dies.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Tell us your whole budget.

$2500 - mortgage and HOA
$500 - utilities
$1500 - food/gas/misc. household expenses
$200 - personal expenses (hair cuts, clothes, etc.)
$900 - half of student loans
$400 - car payment

This is really high and vague. How much do you spend at the grocery store? How many meals do you cook at home? How much do you spend at restaurants (including lunch and on the weekend)? How much is gas and how often do you drive? What kinds of expenses are "misc household expenses"? I think you could spend a lot less in this category, but I don't really know what's in this category as it is so broad as to be meaningless.

How much do you pay for car insurance? Do you have cable? Do you both have cell phones with data plans? Are those expenses considered under "utilities"?

DH gives me a lump sum at the end of the month for the bolded category, but perhaps I should push more about what is in it. The car and condo insurance count in the misc. expenses category, around $80 a month, and the phone goes into the utilities category. We have cell phones on a family plan and basic satellite.

The "etc" and "misc" is what kills me, every time. Your budget is a good overview of what your expenses are, but there's not really a lot that's obvious to cut there.

I would start with food, honestly. Start making a budget and a plan for that. Does your DH cook? If not, he needs to learn. The umemployed person has a responsibility to contribute in other ways. Planning your meals is a serious money-saver.

what is the interest rate and term on your car payment?

is your income enough that you can refi into a 7 year fixed rate 2% loan - unless your current rate is lower, I might be inclined to do this to free up cash flow.

Caveat - we drive our cars till they die, so for me I don't think this is a bad move- if you keep yours shorter time period (which you shouldn't) might be bad idea. try a credit union like SECU

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Tell us your whole budget.

$2500 - mortgage and HOA
$500 - utilities
$1500 - food/gas/misc. household expenses
$200 - personal expenses (hair cuts, clothes, etc.)
$900 - half of student loans
$400 - car payment

This is really high and vague. How much do you spend at the grocery store? How many meals do you cook at home? How much do you spend at restaurants (including lunch and on the weekend)? How much is gas and how often do you drive? What kinds of expenses are "misc household expenses"? I think you could spend a lot less in this category, but I don't really know what's in this category as it is so broad as to be meaningless.

How much do you pay for car insurance? Do you have cable? Do you both have cell phones with data plans? Are those expenses considered under "utilities"?

DH gives me a lump sum at the end of the month for the bolded category, but perhaps I should push more about what is in it. The car and condo insurance count in the misc. expenses category, around $80 a month, and the phone goes into the utilities category. We have cell phones on a family plan and basic satellite.

it is the Etc that kills people.

Keep track of those etc things.

Make a menu for yoru meals each week and only buy what you need for that. Then before you go to the check out look at the cart, take out 2-3 things you know you really don't need. Do that each week and you will have your food bill way down.

Each week the grocery stores have a $5 coupon in the flyer. Use it. I know Harris Teeter has it but the other chains accept it.

Turn down the heat and wear another layer. You will sleep better in the cool rooms.

Cut the cable to the most basic package. you don't watch most of the channels in the next pacakge up anyway. Only have one cable box

Anonymous wrote:

Anonymous wrote:Tell us your whole budget.

$2500 - mortgage and HOA
$500 - utilities
$1500 - food/gas/misc. household expenses
$200 - personal expenses (hair cuts, clothes, etc.)
$900 - half of student loans
$400 - car payment

This is really high and vague. How much do you spend at the grocery store? How many meals do you cook at home? How much do you spend at restaurants (including lunch and on the weekend)? How much is gas and how often do you drive? What kinds of expenses are "misc household expenses"? I think you could spend a lot less in this category, but I don't really know what's in this category as it is so broad as to be meaningless.

How much do you pay for car insurance? Do you have cable? Do you both have cell phones with data plans? Are those expenses considered under "utilities"?

Anonymous wrote:Tell us your whole budget.

$2500 - mortgage and HOA
$500 - utilities
$1500 - food/gas/misc. household expenses
$200 - personal expenses (hair cuts, clothes, etc.)
$900 - half of student loans
$400 - car payment

If dh isnot working he should make most meals. No going out and no Starbucks. Look at phone and cable/Internet ...any monthly billing stuff stop if you can or reduce services, do it.

So you need $900/month? If you eliminate the fast food, lattes, and 401k contributions, that should get you a long way there.

A more complete budget would help people make suggestions.

I actually think you could make up the half that you can't pay pretty easily with day to day cuts. Stop getting fast food. Stop getting lattes at Starbucks. Just don't do those things. They are expensive and eat up a lot more money than you think they do. Shop with a list. Plan your meals.

Can your DH work when you're home with the kids to close some of the gap? Call center, retail?

Tell us your whole budget.

My DH, who has been out of work for a while and has no prospects (a separate issue I know but we no longer have daycare expenses), has student loans coming due and cannot seek a further forbearance. That will add about $1,800 to our monthly expenses. Based on my income (take home of about $6,000 after 401K, insurance, etc.), we can only cover about half of that and still live as we do. We aren't extravagant by any means - I mean lattes from Starbucks, clothes when we need them, toys for the kids, fast food meals out a couple of times a week. Is there any way to make up this much money with day-to-day cuts?