Low Income, Expensive Habits - Advice?

I am working as an IT technician for a small business and make enough money to get by...but just barely. I spend about 110% of my income, but can't seem to reduce my expenses enough. I've started bringing a lunch to work, dipping instead of smoking, and limiting my credit card usage to gas and groceries, but I can't seem to get in the positive for a single month. My fiancee and I are saving for our wedding next year, but I can't seem to set anything aside.

I'm looking for solutions that any of you have found helpful. Keep in mind that I work 40hr weeks, so a second job might be a stretch.

Thanks in advance, WinZatPhail

asked Jun 22 '11 at 11:43

WinZatPhail
521●2●5●15

6 Answers:

oldest newest most voted

First, stop using credit cards and exclusively use debit or prepaid cards.

Second, is there a family member or friend you can share a residence with?

Third, drop anything you "want" and concentrate only on needs. You don't "need" dip or smoke, you want it. In the end any form of tobacco will cost you more - your health.

As far as increasing income, you might want to add something to your skills, like maybe web or graphic design. Offer to host sites for businesses. That could bring in a regular income without a huge effort. Maybe your fiancee could even learn design.

Grats on the bringing lunch to work, though.

answered Jun 22 '11 at 11:49

Duodave
4.6k●40●49●98

Thanks for the response. I'm currently living with my fiancee and we split the rent and appropriate bills. I realize I should quit using tobacco, but it sure is a pain. I've cut down significantly and now weening myself off of it. In regards to increasing my income, I don't want to end up competing with my employer, who offers web hosting and related services. I do a little graphic designing on the side for friends and family, but nothing broader.

(Jun 22 '11 at 12:11) WinZatPhail

A few thing I can think of are:

Do you eat out for dinner? Is so, don't eating out is a expensive thing.
Do you buy anything more than the basic needs? Like buying a new mac every-time a new one comes out or buying a new iPod every time there is a new one. These are not needs. Try just buying the basics and nothing else.
Cut all spending. This means only pay bills(Home/Car loan, and electric/gas/water bills), and buy food at the store to make at home. Don't eat out even once and don't buy any new electronics.
Try doing these things for a month

answered Jun 22 '11 at 11:54

TheTechDude
17.0k●40●94●300

Thanks for the response. My fiancee and I eat at home at least 5 days a week. We used to eat out a lot more and we've noticed the huge savings in that. I don't buy new electronics as soon as they come out, though I would REALLY like to :(

(Jun 22 '11 at 12:15) WinZatPhail

Well, where does all your money go? That's first thing to look at. What you could do is to write down everything you spend for like 2 weeks to a month. Than decided what really was not necessary. If you still can't get by, then maybe you should ask your boss for raise.

Question: Does your fiancee have a job? That's also something you could take a look at.

Hopefully will this get you started.

answered Jun 22 '11 at 11:55

Mitte
511●19●21●31

edited Jun 22 '11 at 11:56

Thanks for the response. Yes, my fiancee works a full-time job, but I can't justify asking for more money from her than I do now. We split rent, bills, and groceries. I probably should ask my boss for a raise...but he's having issues of his own right now. I've also considered exercising my right to find a new job, but I like my job and would hate to put excess stress on my boss.

(Jun 22 '11 at 12:18) WinZatPhail

0	One good school would be email marketing. Do you have any idea how much they could make each month? answered Jun 22 '11 at 11:51 tubadiva95 131●51●53●57 Can you elaborate? I'm not sure I understand what you mean... (Jun 22 '11 at 12:07) WinZatPhail

You ask a complicated question yet lack the information needed. What are your monthly bills. What is your salary. If you cant afford credit get rid of the cards and consolidate your bills if you have multipul. Look at what you need not what you want. For example if your cell phone bill is $200 a month ask yourself if surfing the internet at work is worth it. If you have 2 cars try to car pool with your girlfriend. I find that food has gone up in price alot try buying bulk and vacuum seal. Food will last about a year if you vacuum seal and freeze. I could give you a better idea of savings if i knew your situation better. Cheers!

answered Jun 22 '11 at 12:31

ronsam
(suspended)

Shop at dollar stores for food, cleaning supplies, personal care, etc. Read your newspaper ads for sale items at drugstores and supermarkets. Clip coupons if they are things you will use. Look through the ads in the mail too. Junk mail isn't really junk!

answered Sep 14 '12 at 15:38

gnomie1
26●1

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