So I've been keeping my head just barely above water for the past few years but I want to do better. I didn't know where else to ask this and I apologize if this is the wrong subreddit to be asking for help managing this. I've created a new account because I don't want this tied to me personally in any way.
I'm getting married in August, we have been together for 4 years and just recently had a son together. It wasn't planned, but it is what it is, and I love the little booger to death.
We currently rent, but, its more like we are buying the place. Long story short her parents bought an acreage because they liked the buildings, but didn't want to live there, so they asked us if we wanted to live there and pay rent until the mortgage was paid. Can't go wrong there really.
We pay a flat fee for utilities (Electric) because I use the out buildings too, and they are all on the same bill. The electricity is actually much higher than what we pay but her parents don't mind picking up the rest.
I've been trying to wrap my head around making all these bills easier to handle, and knowing what we REALLY have for money available. We have been using YNAB but I really just don't get it, and we are basically using it as a big registry for our accounts so we know where we are, because our bank does not pull funds immediately.
I have setup a weekly transfer to our vehicle loans, and that helped A LOT with those payments, now it comes out weekly and we never have to scramble for the money to make our payments on that. I'd like to do the weekly approach with everything really as I get paid weekly, but she gets paid the 1st and 15th of every month so that is a little bit harder to do with larger amounts.
Here is an overview of what we take care of monthly:
- Vehicles - $303 - Truck $100 - Cadillac $445 - Insurance
- Living - $550 - Rent $150 - Utilities $155 - Cable + Internet + Phone
- Misc Debts - $200 - $50\wk to my mother until $849 paid off. $300 - HELOC
- Credit Cards - $40 - American Express $40 - VS Card thing $45 - Credit Card $45 - Quick Credit
- Entertainment \ Personal - $15 - Netflix $15 - Blizzard $10 - Ipsy (Some makeup for her, I don't ask) $10 - Google Play Music (I do a lot of road trips for work, nice having music) $10 - Spotify (She hates Google Music...)
I don't remember off the top of my head if I forgot something... but anyway...
Our income is a solid $541.92 a week take home from my job, and she works 40 hours a week at $11~ an hour paid on the 1st and 15th. Adding all that up, I'd have to set aside $608.25 a week, which is more than my weekly in. Income for 4 weeks:
- Myself - $2,167.68
- Her - $1500~ (I don't know exact because she JUST went back to work after baby)
- Total: In - $3667.68 Out - $2433.00
Should leave us with $308.67 a week to play with... My math might be all wrong, I don't know, but I'd like to get this under control so we never have to stress about our money again and can just live and take care of our son.
Thank you for your time and consideration in this matter guys, even if you don't have any advice for me I appreciate the read.
April 03, 2017 at 03:34PM
