food stamps/budgeting

Get financial tips on divorce and asset division including child support laws, property division, and divorce settlements.

Re: food stamps/budgeting

Unread postby Broken Machine » Mon Oct 30, 2017 10:08 am

Definitely cut the cable. I know it is a small expense but I cut mine and I don't miss it. And I agree with the pay as you go cellphones. Kids don't need data plans or whatever. Just a line to call for emergencies or to talk to you or their mom. Or however you want to set it up.
Broken Machine
50+ Posts
 
Posts: 93
Joined: Wed Jul 12, 2017 7:35 am

Re: food stamps/budgeting

Unread postby Tom Kirkpatrick » Mon Oct 30, 2017 11:20 am

Motororays wrote:The struggle I guess is not being able to drop my standard of living that 30%.
The "struggle" you face is maintaining the standard of living you enjoyed during marriage. That mindset has gotta change.

Tom
Everyone is entitled to my opinion. - Maxine™
Tom Kirkpatrick
5K+ Posts
 
Posts: 7631
Joined: Thu Mar 03, 2005 11:31 pm
Location: Pacific NW

Re: food stamps/budgeting

Unread postby Motororays » Mon Oct 30, 2017 11:00 pm

Tom Kirkpatrick wrote:
Motororays wrote:The struggle I guess is not being able to drop my standard of living that 30%.
The "struggle" you face is maintaining the standard of living you enjoyed during marriage. That mindset has gotta change.

Tom


This is what I was getting at. I am more interested in how you managed to drop your standard of living after divorce. When you factor in the loss of income to my ex leaving im looking at more of a loss of 2k/month. To the person who said sell the vehicle why? Its paid off (I did say that in my last post when I said I paid it off last month but then said what it was so that's not an expense anymore). I owe nothing on it except car insurance that I would have for anything else I would buy. Rent is the same as my house payment so not saving anything by renting other than repairs.

Metal roof vs shingles. Metal has been known to drop electric/gas bills by 30% on average. Means that 3k is saved in 2 years. Internet I completely understand. Phone bill I have been contemplating just telling the kids sorry but I cant afford it anymore. I know they would be disappointed but I don't need to go into the poor house for it. So completely makes sense to me. Fortunately it wasn't put in the divorce decree that I have to keep them with a phone :D. My daughters watch is $5/month for phone maybe Ill just give them all watch phones (gizmopal). $5 is way cheaper than what I am paying for now.

Should say ive been divorced since June.
Motororays
10+ Posts
 
Posts: 12
Joined: Thu Oct 26, 2017 12:29 am

Re: food stamps/budgeting

Unread postby Tom Kirkpatrick » Mon Oct 30, 2017 11:06 pm

Motororays wrote:I am more interested in how you managed to drop your standard of living after divorce.
Rule of thumb = Don't live within your means. Live below your means.

Tom
Everyone is entitled to my opinion. - Maxine™
Tom Kirkpatrick
5K+ Posts
 
Posts: 7631
Joined: Thu Mar 03, 2005 11:31 pm
Location: Pacific NW

Re: food stamps/budgeting

Unread postby Motororays » Tue Oct 31, 2017 2:33 am

Tom Kirkpatrick wrote:
Motororays wrote:I am more interested in how you managed to drop your standard of living after divorce.
Rule of thumb = Don't live within your means. Live below your means.

Tom



So you just automatically were able to drop your means of living instantly without any help (other than creating a new budget)?
Motororays
10+ Posts
 
Posts: 12
Joined: Thu Oct 26, 2017 12:29 am

Re: food stamps/budgeting

Unread postby Campfire » Tue Oct 31, 2017 7:42 am

Motor,

You don't have a choice. You are bleeding to death and are asking us why you should apply pressure to this spirting wound.
We are telling you that there isn't really any technique besides applying pressure.

So to answer your question, yes, you simply reduce your outgoing cashflow anyway you can.


You don't make much money. Even while married your hourhold income was insufficient to support your spending habits. Many of us practiced what you will likely think of as severe financial austerity because of divorce. If you want to get back on your feet again, you're going to have to take a big ol' bite of the lemon.


So let's look at you finances line by line:

1. Are you paying PMI on your house? What's the interest rate on the mortgage?

2. The phones are outrageous. I have MetroPCS. They gave me a free Samsung Galaxy and charge me $30/mo out the door. Multiple lines are even cheaper. I believe Mint only charges $15/mo but you have to bring your phone. As to the kids needing their own phone, not really true. Everyone has cellphones nowadays. They could easily borrow a friend's phone to make a single call. Or you could get them "burner" phones for emergencies.

3. What's the interest rate on the credit card? Is there only one card?

4. Cable and internet have to go. You can get an OTA antenna for $20 or just use your DVD player like I do.

5. Comparison shop the trash company. Around me, I can hop between multiple vendors if I chose. It's a hassle to keep switching vendors but it can save money.

6. Insurance: Time to comparison price shop.

7. The food budget is high. Eating out doesn't have to go away but stick to doing it once a week and focus on lower end restaurants tat have specials. Make eating out a special treat for observing financial austerity. Shopping at stores like Aldi can save a lot of money. My D and I actually prefer some of the generics over name brands and I have found that some "generics" are simply rebranded name brands.

8. What's the interest rate on the student loan?

9. Are you making sure you are minimizing electric usage? What's your thermostat set at? I keep mine at 65 for heating and 72 for cooling.

10. What's the interest rate for the roof loan?



Have you ever heard of credit card hacking?
The List: http://www.dadsdivorce.com/father_divor ... hp?t=13374


The question is how much conflict you can control, negate, or avoid.
Campfire
2.5K+ Posts
 
Posts: 2923
Joined: Sun Jul 20, 2014 11:12 pm
Location: Northern Illinois

Re: food stamps/budgeting

Unread postby Campfire » Tue Oct 31, 2017 7:46 am

In case this all sounds like too much, consider the fact that I basically am suggesting how I live my life yet I make far in excess of your income. Living beneath your means is a path financial security. I think you will find your stress levels markedly decreasing once you see your debt disappearing. It almost becomes like a game and the challenge of reducing expenses can become a fulfilling task.
The List: http://www.dadsdivorce.com/father_divor ... hp?t=13374


The question is how much conflict you can control, negate, or avoid.
Campfire
2.5K+ Posts
 
Posts: 2923
Joined: Sun Jul 20, 2014 11:12 pm
Location: Northern Illinois

Re: food stamps/budgeting

Unread postby Motororays » Tue Oct 31, 2017 10:02 pm

Campfire wrote:Motor,

You don't have a choice. You are bleeding to death and are asking us why you should apply pressure to this spirting wound.
We are telling you that there isn't really any technique besides applying pressure.

So to answer your question, yes, you simply reduce your outgoing cashflow anyway you can.


You don't make much money. Not sure how making 75k a year isn't much money (gross obviously not take home) Even while married your hourhold income was insufficient to support your spending habits. Many of us practiced what you will likely think of as severe financial austerity because of divorce. If you want to get back on your feet again, you're going to have to take a big ol' bite of the lemon.


So let's look at you finances line by line:

1. Are you paying PMI on your house? What's the interest rate on the mortgage? No and 4%

2. The phones are outrageous. I have MetroPCS. They gave me a free Samsung Galaxy and charge me $30/mo out the door. Multiple lines are even cheaper. I believe Mint only charges $15/mo but you have to bring your phone. As to the kids needing their own phone, not really true. Everyone has cellphones nowadays. They could easily borrow a friend's phone to make a single call. Or you could get them "burner" phones for emergencies. No argument here

3. What's the interest rate on the credit card? Is there only one card? Fortunately its not a normal card but still high at 14%. I had it paid off last month but then I was stupid and I will leave it at that. Yes just the one.

4. Cable and internet have to go. You can get an OTA antenna for $20 or just use your DVD player like I do. Don't have cable just internet. But cant argue with this one either.

5. Comparison shop the trash company. Around me, I can hop between multiple vendors if I chose. It's a hassle to keep switching vendors but it can save money. Yeah I need to. last year it was $150 for the year so a $50 jump is kind of uncalled for.

6. Insurance: Time to comparison price shop. I do it every year and no one beats whom I have by even a close proximity. My employer has a discount through MetLife and they cant even beat it with a 10% employee discount. Not sure why as I have never been in an accident in the 22 years I have been driving and have only had 2 speeding tickets. But those tickets were like 10 years ago.

7. The food budget is high. Eating out doesn't have to go away but stick to doing it once a week and focus on lower end restaurants tat have specials. Make eating out a special treat for observing financial austerity. Shopping at stores like Aldi can save a lot of money. My D and I actually prefer some of the generics over name brands and I have found that some "generics" are simply rebranded name brands. got to agree

8. What's the interest rate on the student loan? 1.9%

9. Are you making sure you are minimizing electric usage? What's your thermostat set at? I keep mine at 65 for heating and 72 for cooling. Nest thermostat so 62 when im away (no kids at home) 68 when we are up and about, 65 when sleeping. 78 for cooling. Always turning lights off when not in the room ect ect. Just recently turned off a chest freezer that I realized I could take all the stuff out of it and put in our fridge freezer. Hopefully that will make a difference.

10. What's the interest rate for the roof loan? 2.75%



Have you ever heard of credit card hacking? That term is new to me. Unless you mean credit card fraud?


Thank you for the suggestions. really the only debt per se is the student loan, credit card (dumbest thing for me to have) and the house and roof loan. Take away the house and I am in debt 14 grand. So yeah that's a lot. Plus they are taking an extra $30/week out of me until the arrears are paid up (so I will go up to $630/week take home when that's finally done). Looking like February and ill be caught up.
Motororays
10+ Posts
 
Posts: 12
Joined: Thu Oct 26, 2017 12:29 am

Re: food stamps/budgeting

Unread postby Tom Kirkpatrick » Tue Oct 31, 2017 11:05 pm

re: Don't live within your means. Live below your means.
Motororays wrote:So you just automatically were able to drop your means of living instantly without any help.....?
Getting from Point-A to Point-B is a journey. And like all journeys, you begin with a single step.

Never lose sight of the fact that the journey itself is the adventure, not the destination.

Tom
Everyone is entitled to my opinion. - Maxine™
Tom Kirkpatrick
5K+ Posts
 
Posts: 7631
Joined: Thu Mar 03, 2005 11:31 pm
Location: Pacific NW

Re: food stamps/budgeting

Unread postby Campfire » Tue Oct 31, 2017 11:49 pm

Motororays wrote:[

Basically I bring home $600/week (used to $900) so I know im not in bad shape just trying to cut out the fat like eating out.

.



Motor,

Is the eating out a thing you do to feel happier?
The List: http://www.dadsdivorce.com/father_divor ... hp?t=13374


The question is how much conflict you can control, negate, or avoid.
Campfire
2.5K+ Posts
 
Posts: 2923
Joined: Sun Jul 20, 2014 11:12 pm
Location: Northern Illinois

PreviousNext

Return to Finances & Divorce Forum

Who is online

Users browsing this forum: No registered users and 2 guests