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Discussion Starter #1
I am curious about how everyone balances their fianances when it comes to their car, life, family, bills, etc.

I as of late have geared everything towards my car, and now I am seeing the consequences of it. Please tell me how you are able to balance everything out or what tatics you do to buy the things you enjoy but are able to pay for things that must be paid for.

I am not asking for personal information, just tips and tricks on how to do it, because I am ending up just like my F'in mother at this rate.

John
 

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Since I don't really care what people know about my finances (they suck to begin with), here is my monthly budget broken down:

Monthly Take home $1712

Rent: $600 (includes heat and internet access)
Electricity: $30
Phone: $16.49
Gas (for the car): $112
Food: $300
Satellite TV: $42
Medication: $16

Note: No more car payments, I do not have car insurance at this time and I am single, so I have no idea where the $595.51 remaining goes... lol

John
 

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Discussion Starter #3
Do you like plan out your spending for the entire month or go by ear?
 

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try by the week... lol, that's why I am always broke!!! lol

I have been doing my budgeting lately and right now I am working out a plan for a month by month budget instead of week by week. The key is getting caught up on all my bills and then I can actually follow my budget.
 

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Discussion Starter #6
Litning said:
try by the week... lol, that's why I am always broke!!! lol

I have been doing my budgeting lately and right now I am working out a plan for a month by month budget instead of week by week. The key is getting caught up on all my bills and then I can actually follow my budget.
I see, I don't have a steady job due to college, this is why everything is so freakin hard, and not to mention I just quit my job today because it pays god awful (going factory for the summer I think). I am just so freaking confused about everything I do not know what to do anymore. I am just certain on one thing, I like my car, and I want it to be better. It is so bad man I can't even find interest in other things anymore, like music.. I used to be extremely hardcore into the art, but now I can't find excitement in it anymore...

I've really *#%#ed myself over.... :(
 

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My advice is to stay on top of all your bills, and stay out of debt--I pay off my credit card almost every month. If you can, save up for big purchases. I bought both of my cars with a check, so I have no payments.

It also helps to have a good job, be single,:rolleyes: and live in a depressed area like Youngstown. I take home just a little more than Litning, and I am able to own my house and still have a little spending money.

--edit--
I just saw your post, and, for a college student, I would definitely recommend PATIENCE. Lots and lots of patience! You'll have plenty of time to improve your car after you graduate. Good things come to those who wait.:thumbsup:
 

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Discussion Starter #8
Black_97_LX said:
My advice is to stay on top of all your bills, and stay out of debt--I pay off my credit card almost every month. If you can, save up for big purchases. I bought both of my cars with a check, so I have no payments.

It also helps to have a good job, be single,:rolleyes: and live in a depressed area like Youngstown. I take home just a little more than Litning, and I am able to own my house and still have a little spending money.

--edit--
I just saw your post, and, for a college student, I would definitely recommend PATIENCE. Lots and lots of patience! You'll have plenty of time to improve your car after you graduate. Good things come to those who wait.:thumbsup:
Yeah that is what I am thinking too.. I think for Xmas if I have everything caught up I will buy an Apten Chip and just stop the mods, I just need to give the car more go since the wheels weigh more :).

I am trying to have patience man, but it is just soooooo hard when you finally get the money in your account to do something awesome.

BTW, I am NOT single... So that does have its costs occasionally, but she is low maintenance, which is good!!
 

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I won't talk about how much I make, but since my big *** raise, 1 pay check just about covers all fixed expenses and I have no debt other than the car. No credit cards, nothing. Only buy what you can afford :)

I use to work a ton in college, 45 hours in two jobs (yes I was full time student too) ...and I barely kept the lincoln but I did things in stages, cheap stuff.
 

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Max out your credit.

Actually, set priorities, beyond the basics. When I went to college, the last thing I had money for was modding a ride. Just eating anything but Kraft Dinner was enough.

Set priorities. Life is about what you make as your priorities and the choices that you make in line or out of line with your priorities.

Write a list. Set your budget and don't be influenced by peer pressure.

(Kidding on the max credit)
 

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Johnny Bling Bling
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i'm with john(litning). here's my breakdown(not ashamed or boasting):

monthly income- $2000.....$1340 after taxes and deductions
monthly bonus check after taxes- $200-$300(not lately!!)
monthly mortgage- $1382
monthly car ins.- $177
monthly food for 2 people and a cat- $240
cable- $10
electric- $24
oil heat- $80-$125
gas for 2 vehicles- $100-$125
telephone- $28
internet- $21.95
credit card- $50 minimum
new car payment(hers)- $152
school loans(hers)- $80

my wife works part time, so that helps a little. her income is not included, but her expenses are. we just do the best we can.
 

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Budget. Prioritize. Your bills come first, always. Creditors don't give a crap that you had to get that 75mm pro-m maf mod.
Make a list of your income. Make a list of your monthly expenses that you have to pay. Electricity, phone, internet, food, credit cards etc.. The third list is additional expenses like gifts for birthdays or holidays, dining out, beer fund - wait that goes under "have to pay" column... and car mods. If you have any cash left over to put in the 3rd column that is. Often, in my case, I don't. Have to gather parts slowly over a couple of months. It's aggravating but you have to take care of yourself, your family first. That's your job...
 

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Discussion Starter #13
Well, my g parents are going to help me out, and I am making some big strides in keeping close tabs on my acct. balance (leave check book in car, online acct. balance checking, etc.). So that will help me out a lot..

Thanks for your scenarios so i can learn from them...... Helps out

John
 

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I am a college student. I am paying my way through college and dont get any money from my parent, so it all gets paid for by me, i used to get fin aid and loans, but dont qualify for fin aid anymore and have decided to start paying off my loans.

take home: 1300$
quarterly bonus: about 350$ give or take a little cash
christmas bonus: 360$
credit card: 100$ a month
cell: 50$
cable: 50$
web access: 21.95$
insurance: 100$
gas: 90$
student loan: 38$ for next 2 years, then jumps to 114$


thats it.

joseph
 

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not sure what taxes will be yet since this will be my first paycheck as an official employee there (just went perm from contract)

Ok, so if we make 30% the tax amount...

From : $2065

Car Ins: $225
School Loan: $150
Loan I never should have taken: $150
Credit Cards (min): $100
Phone: $65
Pet Ins: $35
Storage: $115
T-Pass: $71
Food: $150
Benefits: $40
__________________________________
Total: $989

$1076 wasted, food is guessed and not sure what taxes will be like I said. Really depends on how far I wander, but I live at home, parents pay for food and house, only eating out I pay for is sometimes lunch at work and if I go out.
 

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I work my a$$ off everyday. My wife and I both have full time jobs, and I also pull down on average of $100 a week extra doing auto work for people, and I cut a few people's grass at $20 a pop.

Finances that I can remember of the top of my head:

Me: $1700 a month take home

Her: $1500 a month

Bills per month:

$780 month for mortgage/insurance/prop. taxes

$12 for water

$80 for elec.

$40 for propane

$10 for trash

$85 for gas (84 Vic)- ME

$60 for gas (95 Bird)- Her

Prob. $200-ish total for credit cards, etc...

$80 for groceries

$80 for bowling league (us and her)

And food for the rabbit, dog, cat, and fish I have.


Not to mention whatever else comes up (car repairs, home repairs, etc..)


You think you have it hard? You are lucky you are still at home. Use it while you can, and stay away from credit cards!!!! I am paying monster bills because of them. And from my mod list, you can see I still managed to get a few things for my bird, and I am about to start on a frame-up resto for my Vic. My wife is a math wiz, and I know how to make money from anything. Ebay has helped. Plus having the car repair knowledge has also helped. I know how it feels to not have the money to take something to a shop, so I save people $$ by doing it for them, and they are more than happy to pay me.

Sounds like you need to take a look at your monthly outgoing vs. incoming and see where the prob. is. If you are dropping too much on your car, then scale back and pay a few things off. If you f up your credit rating early in life, it will come back to haunt you in the future, trust me. I worked my butt of at 2 jobs and then came home every night to work on others' cars for money, on top of my wifes job, and still almost died. I just took out $6,000 from one of my life insurance policies to pay off the majority of our credit cards (she brought a bunch in when we got married 5 years ago). We are just wanting a fresh start, and this is our last shot. Not to mention that the bird has deer damage that needs to be fixed, and the converter/flywheel is going to be replaced soon. So many projects, so little $$. If we can make it, so can you. I have passed up MANY things in order to take care of us, and make sacrifices every day. I am supposed to be the "provider", so I work hard so we can have a nice house/cars/whatever. Pay your bills first, and then have fun w/ the rest. I know it gets you down to have no money left at the end of the month, but, it could be worse. How would you feel if you had people calling all the time from a collection agency, having your checks garnished, and then loosing your car to the repo man... Not good I would assume. As has been mentioned, home/family first, then toys. Maybe get a second job at night for a few hours to make some extra $$. Just a thought. Hope all this rambling helps. Just speaking from some experience...
 

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Discussion Starter #19
Jay,
Wow.. Just wow.

I do not know what to say, other than you are right I don't know **** when it comes to struggle.

Glad to see your holding up! I have started (yesterday and today) in setting up a new budget and taking strides to prevent this from ever happening again. I know what it is like getting collection calls, because when I lived with my mom, she went through it A LOT.

You want to hear something sad? Mom is 39, and still has to borrow money from my grandparents all the time, she has had her rent paid twice in the last two months, amongst other things.. So you see, it is hard to find a role model in my family outside of my grandparents.... :(
 

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You guys make me feel a lot better, I thought I was the only one on here that doesn't have much money to put into their car right now, but things are looking up for me, because I prioritized, and next month is my last month to be poor.

My income: $2650 per month bring home, don't ask how much I actually make, I don't know. E-6 in the Army.

Rent- 575
elec.-120
water-40
insurance-125
cable-75
car #1- 250
car #2- 200
gas-35
Sears card(the only credit card I have)-135
food-300

I have a wife and 3 kids, so add in school lunches, shoes, entertainment, etc. and there's not too much left after that.

That's why my mod list is so short right now. True duals, pulleys, civic tube, sport shocks and springs, and Mark VIII wheels is all I have.

The good news is that I have 2 loans that come straight out of my check that I don't even see, one for $405, and 1 for $111, both of which only have 1 payment left, so after that, the Cougar will get some more loving. That, along with pay raises for going over 12 years, plus the annual pay raise will have my bring home pay in the area of $3300, so things are looking up for me.
 
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