Money Troubles
Member
Join Date: Feb 2009
Location: CA desert
Posts: 1,599
Hi LaFemme,
This is a great topic for most of us, and you've received some excellent suggestions.
There are a number of spreadsheet formats available online to track our spending habits on a daily, weekly, monthly and yearly basis, however what I found useful was to take all of those spreadsheet formats and actually customize one on my computer that fit my lifestyle more acccurately, then print out copies which I then put in a three ring binder. Next, I created files for each category for spending, such as mortgage, insurance, taxes, utilities, entertainment, etc, then kept all associated records in those files. After counting all those pennies for a couple months and seeing where my money was actually going, I was then able to construct a budget which allowed me to meet all of my expenses, cover short and long term goals such as a weekend activity or vacation, and keep funds set aside for those goals. When budgeting becomes fun, such as making it a challenge to get as much groceries for a said amount, slashing unnecessary costs in leiu of a desired objective, then budgeting becomes much easier to do and ultimately more rewarding. If you can reach that point, where it becomes a fun challenge, then you're on your way to better management of your finances.
And to add, maintianing a budget also allows us to see if in fact our income is sufficient to meet not only our needs, but also our wants. Tracking our income is essential and also helps develop ways to possibly suppliment our income, such as doing small side jobs, running errands for neighbors, etc.
One other note, it's soooo much easier to maintain a budget while sober, because when I drink, it's an all or nothing affair, and gets expensive real quick, lol.
Hope this helps a bit.
This is a great topic for most of us, and you've received some excellent suggestions.
There are a number of spreadsheet formats available online to track our spending habits on a daily, weekly, monthly and yearly basis, however what I found useful was to take all of those spreadsheet formats and actually customize one on my computer that fit my lifestyle more acccurately, then print out copies which I then put in a three ring binder. Next, I created files for each category for spending, such as mortgage, insurance, taxes, utilities, entertainment, etc, then kept all associated records in those files. After counting all those pennies for a couple months and seeing where my money was actually going, I was then able to construct a budget which allowed me to meet all of my expenses, cover short and long term goals such as a weekend activity or vacation, and keep funds set aside for those goals. When budgeting becomes fun, such as making it a challenge to get as much groceries for a said amount, slashing unnecessary costs in leiu of a desired objective, then budgeting becomes much easier to do and ultimately more rewarding. If you can reach that point, where it becomes a fun challenge, then you're on your way to better management of your finances.
And to add, maintianing a budget also allows us to see if in fact our income is sufficient to meet not only our needs, but also our wants. Tracking our income is essential and also helps develop ways to possibly suppliment our income, such as doing small side jobs, running errands for neighbors, etc.
One other note, it's soooo much easier to maintain a budget while sober, because when I drink, it's an all or nothing affair, and gets expensive real quick, lol.
Hope this helps a bit.
Member
Join Date: Feb 2010
Posts: 484
Staying sober is a good start. I once stayed sober for seven months, and managed to save up $3000. Not bad for a 21 year old kid. But heed this little warning: I went "back out" and am still in debt for that debacle over four years later! Just stay sober, and things will turn around. You'll just inherently learn how to save money. It might take a few months, but before you know it you'll have more money than you'd ever imagined. I know scores of people who've had this happen to them by staying sober. One guy put to me like this: "When I first came to AA, I was $12,000 in the hole, and I thought my life was ruined. Six months later, I was completely out of debt." And this guy sobered up in the early 80's, so you can do the math.......that would be like $20,000 in today's terms. He can turn it around, you can turn it around, and so can I. That is the power of sobriety.
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Thread Starter
Join Date: Jul 2010
Location: New England
Posts: 5,285
Wow! Thanks so much h everyone! I actually feel overwhelmed with hownmucf good advice I've received:-) but what id really like is for firestorm to come out here and do everything for me...wow...finances fun? That's seriously crazy;-)
Regarding rent..I've tried a bunch of times to go into a shared situation but it hasn't worked out...not sure why, might be that me and my friends are older, might be my dogs, might be scarcity of housing. My rent is a huge problem though since where I live is expensive and I am already living in one of the cheapest places in town...its about 35% of my income.
I've been meaning to start trying to sell my art on eBay and this is motivating me to stop putting it off. What I realize is that making more moneys isn't the solution...I need to grownups and live within my means and be responsible for my actions...its part of the sobriety...when I was drinking I could ignore my irresponsibility and just kill myself with hours and throw money at it...now I've got to learn how to manage money.
I am so grateful I am sober and finally figuring this out...with a lot of great advice from my SR friends:-)
Regarding rent..I've tried a bunch of times to go into a shared situation but it hasn't worked out...not sure why, might be that me and my friends are older, might be my dogs, might be scarcity of housing. My rent is a huge problem though since where I live is expensive and I am already living in one of the cheapest places in town...its about 35% of my income.
I've been meaning to start trying to sell my art on eBay and this is motivating me to stop putting it off. What I realize is that making more moneys isn't the solution...I need to grownups and live within my means and be responsible for my actions...its part of the sobriety...when I was drinking I could ignore my irresponsibility and just kill myself with hours and throw money at it...now I've got to learn how to manage money.
I am so grateful I am sober and finally figuring this out...with a lot of great advice from my SR friends:-)
Member
Join Date: Mar 2008
Location: UK
Posts: 4,682
You will find that this will take some work and there will be other things crop up too that will only get better if you do a lot of work on yourself...personal experience i was earning more than enough when i stopped for 5 months and didnt save a thing...yet got sober and managed to last 6 months on just over what would have been a months wages...i needed a big personality change and i didnt knowhow to do that myself...these sorts of things dont get better by magic although there are certain things that some do when stopping drinking to get the same effect on a per problem basis, e.g. finances - give responsibility to someone else...there was a 64 year old guy in the rooms that gave his wife all his wages and she gave him about $7 a day...i couldnĄt live like that but "worked" for him for a while:-)
Member
Join Date: Aug 2010
Location: Somewhere
Posts: 138
Do you cash your paychecks or deposit them? If you run all your money through a bank account it becomes easier to track. I personally like my credit card because it allows me to go back and see what/where I spent money, I charge everything I can to it and pay it off every month (this is an important part, CC debt is terrible), also get 1-5% back depending on what I buy.
Also, try to minimize the amount of cash you carry on you at all times, the less you have on you, the less you can spend money on. Also if you eat out at all STOP, pack a lunch for work, eating out can chew through so much money it isn't funny at all.
Start a spreadsheet (if you don't have Microsoft Excel, Google Docs spreadsheet is free, easy to use and you can access it from any computer that has an internet connection) to track your income/spending. Figure out what costs are unavoidable (rent/insurance/medication) and then others (food, utilities, entertainment, fuel, etc) and then figure out how you can reduce the 2nd group.
Also, try to minimize the amount of cash you carry on you at all times, the less you have on you, the less you can spend money on. Also if you eat out at all STOP, pack a lunch for work, eating out can chew through so much money it isn't funny at all.
Start a spreadsheet (if you don't have Microsoft Excel, Google Docs spreadsheet is free, easy to use and you can access it from any computer that has an internet connection) to track your income/spending. Figure out what costs are unavoidable (rent/insurance/medication) and then others (food, utilities, entertainment, fuel, etc) and then figure out how you can reduce the 2nd group.
Member
Join Date: Feb 2009
Location: CA desert
Posts: 1,599
Yes, it seems like learning to manage our finances is about the farthest thing from fun that we could think of, and I felt that way years ago. Then I started working at a bank in the loan department, specifically mortgages and my interest in money managemnt took on a whole new level of interest for me. Problem was, at that time, there wasn't alot of information available over the counter regarding sound personal financial management. So, I started developing my own methods of tracking financial expenditures, creating a budget, checking out the best deals around town from groceries, tires, oil changes and the like and it became a real challenge to me. I really got in to it and it payed off quite well and still does. It's still a practice I spend a fair amount of time wiht, but hte need today isn't as great, just something I like to do.
So, it can become fun in the sense of getting the best deals, watching our accounts get healthy, never worrying about whether we can meet our bills this month, or afford a cup of coffee while out with friends, or that occasional slice of cake for $6.00. It takes discipline, attention to detail and a commitment to improving our understanding of how we relate to money. It's not as hard as it sounds, but does require us to rethink our management methods.
Start small, and see what you can save this next week. Add to that and keep track, not real heavy stuff, envelopes work for spreadsheets too, lol. You never know, it may become a challenge and an enjoyable accomplishment to save a few hundred dollars when you thought you never could. That's fun to me.
So, it can become fun in the sense of getting the best deals, watching our accounts get healthy, never worrying about whether we can meet our bills this month, or afford a cup of coffee while out with friends, or that occasional slice of cake for $6.00. It takes discipline, attention to detail and a commitment to improving our understanding of how we relate to money. It's not as hard as it sounds, but does require us to rethink our management methods.
Start small, and see what you can save this next week. Add to that and keep track, not real heavy stuff, envelopes work for spreadsheets too, lol. You never know, it may become a challenge and an enjoyable accomplishment to save a few hundred dollars when you thought you never could. That's fun to me.
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Thread Starter
Join Date: Jul 2010
Location: New England
Posts: 5,285
Painter...I have no medications although I take a number of supplements...I'm kind ofjan alternative, holistic healthcare kind of gal and believe in an ounce of prevention and all that.
No more carrying cash...no more grabbing a coffee in the morning at the lunch place...no moregoing to the gym...no more buying books.
Look for deals on food...although I'm predominately a vegetarian and try to eat organic so that will take some thought.
I will have to wait until next month to try and save...even cutting everything out and pushing off some bills this month will be hard...next one too in all honesty as I am still fixing things I ruined during my drinking.
I will use googles docs...I love cloud computing, I'm addicted to it but its free so that's okay.
I know this requires life changes but its all a part if the journey of life ..we need to grow and evolve every day...unfortunatley I always need to be hit over the head with something to figure anything out!
Firestorm...I am goin to try and make a game of it...I hope I can muster your level of enthusiasm one Fay!
No more carrying cash...no more grabbing a coffee in the morning at the lunch place...no moregoing to the gym...no more buying books.
Look for deals on food...although I'm predominately a vegetarian and try to eat organic so that will take some thought.
I will have to wait until next month to try and save...even cutting everything out and pushing off some bills this month will be hard...next one too in all honesty as I am still fixing things I ruined during my drinking.
I will use googles docs...I love cloud computing, I'm addicted to it but its free so that's okay.
I know this requires life changes but its all a part if the journey of life ..we need to grow and evolve every day...unfortunatley I always need to be hit over the head with something to figure anything out!
Firestorm...I am goin to try and make a game of it...I hope I can muster your level of enthusiasm one Fay!
Forward we go...side by side-Rest In Peace
Join Date: Jun 2002
Location: Serene In Dixie
Posts: 36,740
How I live...and save a bit....on my Social Security check
with my Food Stamps...this total is $800 monthly.
I use only cash and pay bills with money orders.
Wal-Mart has the cheapest money orders
No debit card or checks or credit cards.
I pay bills first thing. Rent..Cable...Utilities and Life Insurance.
These total about 50% of my income.
I take 10% after bills...that goes into savings.
The other 40% I get in $100 bils.
Each week...I can do whatever with $100.
I always have some left at payday....that too
goes into savings.....and I start all over broke...
By far....the best way for me to budget is seeing
the cash come out of my billfold.
Makes me aware of..."Do I really need this?"
with my Food Stamps...this total is $800 monthly.
I use only cash and pay bills with money orders.
Wal-Mart has the cheapest money orders
No debit card or checks or credit cards.
I pay bills first thing. Rent..Cable...Utilities and Life Insurance.
These total about 50% of my income.
I take 10% after bills...that goes into savings.
The other 40% I get in $100 bils.
Each week...I can do whatever with $100.
I always have some left at payday....that too
goes into savings.....and I start all over broke...
By far....the best way for me to budget is seeing
the cash come out of my billfold.
Makes me aware of..."Do I really need this?"
Member
Join Date: Jul 2010
Location: dayton, oh
Posts: 487
LaFemme
I think my husband trades books at Half Priced Books. I use the library to its full potential. If they don't have it in the network or the wait is to long I ask them to get it on interlibrary loan, which means it comes from a different city. It costs me fifty cents but it is worth it. If I love it, I buy it on Half.com used.
I am with you on spending money on good groceries. I have not found any bargains on organic foods. Forget about the cheese and crackers I like. I would love suggestions on how to save money on food without giving up quality and having to buy in bulk and freeze.
SH
I think my husband trades books at Half Priced Books. I use the library to its full potential. If they don't have it in the network or the wait is to long I ask them to get it on interlibrary loan, which means it comes from a different city. It costs me fifty cents but it is worth it. If I love it, I buy it on Half.com used.
I am with you on spending money on good groceries. I have not found any bargains on organic foods. Forget about the cheese and crackers I like. I would love suggestions on how to save money on food without giving up quality and having to buy in bulk and freeze.
SH
Member
Join Date: Jun 2009
Location: South Dakota, USA
Posts: 1,429
I am a financial advisor, and talk with people just like you everyday. A good place to start is a course called "Financial Peace University" that is offered by Dave Ramsey. Many churches are now offering this course. It is 12 weeks long, one night/week. I think it could really help you build a good foundation for building your financial house. It is so important to know HOW money works. Learn to control money, not let it control you.
But like it has already been said, keep track of every penny and see where you can cut. Use an envelope system. Cash your check every month and put it into specific envelopes. Have an envelope for every expense. When that envelope is empty, you stop spending in that area of your life until you get paid again. Envelopes like: housing, gas, food, insurance, utilities, etc. and even have one for entertainment. Obviously, the entertainment one gets filled last if you have any left after the necessity ones are filled.
Hope some of these ideas help. Congrats on your sobriety.
But like it has already been said, keep track of every penny and see where you can cut. Use an envelope system. Cash your check every month and put it into specific envelopes. Have an envelope for every expense. When that envelope is empty, you stop spending in that area of your life until you get paid again. Envelopes like: housing, gas, food, insurance, utilities, etc. and even have one for entertainment. Obviously, the entertainment one gets filled last if you have any left after the necessity ones are filled.
Hope some of these ideas help. Congrats on your sobriety.
Last edited by Dee74; 09-15-2010 at 03:13 PM. Reason: see Dee
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Thread Starter
Join Date: Jul 2010
Location: New England
Posts: 5,285
Thanks for the additional suggestions...the book spending is definitely stopping now...self help books I will buy on half.com...I write in them so library loans wont work there:-)
The course sounds interesting but I gotta say the envelope idea sounds scary...too easy to get robbed with all the cash lying around...or am I misunderstanding?
I wish I had a big freezer...they had my dogs food super cheap at the store last night but I only have room for a two week supply at most...especially since I am now making lunches on the weekend and freezing them for work.
Also, regarding food..its the sad truth that its cheaper to eat junk then healthy.
The course sounds interesting but I gotta say the envelope idea sounds scary...too easy to get robbed with all the cash lying around...or am I misunderstanding?
I wish I had a big freezer...they had my dogs food super cheap at the store last night but I only have room for a two week supply at most...especially since I am now making lunches on the weekend and freezing them for work.
Also, regarding food..its the sad truth that its cheaper to eat junk then healthy.
Member
Join Date: Jun 2009
Location: South Dakota, USA
Posts: 1,429
Well, I guess that yes it would be true if you got robbed that wouldn't be good. Maybe you live in a rougher neighborhood than me. But you could probably do it with pieces of paper also. Just write on there how much is "in" each envelope and keep the money in the bank. Just when you spend it, deduct it on the piece of paper in the envelope.
And not sure what kind of food you feed your dog, but that could be a big expense? It can be the small things that really drain your pocketbook.
But you could probably do it with pieces of paper also. Just write on there how much is "in" each envelope and keep the money in the bank. Just when you spend it, deduct it on the piece of paper in the envelope. And not sure what kind of food you feed your dog, but that could be a big expense? It can be the small things that really drain your pocketbook.
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Thread Starter
Join Date: Jul 2010
Location: New England
Posts: 5,285
My two large dogs eat raw so if I had a freezer I could save $25 a month, butfif I found a hunter I could feed them for free..not many offthose around here:-)
The cash option just sounds strange...I'm not saying I don't think it would work just the idea of not having my money in the bank feels wrong somehow.
The cash option just sounds strange...I'm not saying I don't think it would work just the idea of not having my money in the bank feels wrong somehow.
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Join Date: Apr 2010
Location: Lowcountry
Posts: 2,762
LF,
Years ago, a wealthy client of mine (with some prison tats on his knuckles, still) told me about how he got started. He saved $10 a day, and claimed that fund was still his largest. And he still added $10/day to it !!! I think he had owned 6 or 7 Burger King franchises around Chicago, sold, retired, etc , or something.
Anyway, I thought, DAMN, "if I did that, at least I'd have 3,650.00 one year from today saved." So I'd literally date a $10 bill ....or 2 days on a $20, and hid them in an envelope, which held the cash for 1 month. Back then I could walk into a bank and buy $600 worth of EE Treasury Bonds for $300 , -- and stick them in a safety dep. box. Banks don't offer them nowadays, (and I'm the last person to suggest how to "invest" savings ).....but , I always figured I could manage just a little side work, even if it wasn't "steady" to pick up the extra Ten.
Like that dude, I still save $10/ ....One day at a time. Course, I don't have the smarts to make buckets of cash like he did, maybe, ....but I'll always be grateful he shared that with me. After a few years, I realized not being stressed about money improved ( a radical change !)) my whole approach to designing commercial art. Another freedom directly related to sobriety.
ps. I vote for the library; ......I guess I just love the library, though.
Sounds like you're well on your way, ...recognizing, acknowledging, and trying things differently ,......Way to go !!!!!
.
Years ago, a wealthy client of mine (with some prison tats on his knuckles, still) told me about how he got started. He saved $10 a day, and claimed that fund was still his largest. And he still added $10/day to it !!! I think he had owned 6 or 7 Burger King franchises around Chicago, sold, retired, etc , or something.
Anyway, I thought, DAMN, "if I did that, at least I'd have 3,650.00 one year from today saved." So I'd literally date a $10 bill ....or 2 days on a $20, and hid them in an envelope, which held the cash for 1 month. Back then I could walk into a bank and buy $600 worth of EE Treasury Bonds for $300 , -- and stick them in a safety dep. box. Banks don't offer them nowadays, (and I'm the last person to suggest how to "invest" savings ).....but , I always figured I could manage just a little side work, even if it wasn't "steady" to pick up the extra Ten.
Like that dude, I still save $10/ ....One day at a time. Course, I don't have the smarts to make buckets of cash like he did, maybe, ....but I'll always be grateful he shared that with me. After a few years, I realized not being stressed about money improved ( a radical change !)) my whole approach to designing commercial art. Another freedom directly related to sobriety.
ps. I vote for the library; ......I guess I just love the library, though.
Sounds like you're well on your way, ...recognizing, acknowledging, and trying things differently ,......Way to go !!!!!
.
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Join Date: Jul 2010
Location: dayton, oh
Posts: 487
I'm just curious what kind of dogs do you have and have they always eaten raw? Lots of people suggest it on one of my boards I've lost two to cancer and my two are getting older and more finicky about their diet? I already spend quite a bit on food and supplements so I am wondering how much raw costs? PM me please. We're suppose to be saving money right?
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Thread Starter
Join Date: Jul 2010
Location: New England
Posts: 5,285
I love the idea of saving $10 a day...its still cheaper than the booze and cigarettes so should be doable...thanks!
Raw is much cheaper than high end dog food...I'm something of a fanatics about it...will pm you:-)
Raw is much cheaper than high end dog food...I'm something of a fanatics about it...will pm you:-)
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