I apologize in advance for the long post.
I got divorced last year and I am now living on my own. My goal is to stick to a budget but I want to increase my cash flow every month so I can take my kid on vacation. I am looking for ideas to improve my budget. This is it at a high level ...
| In | Out | ||
|---|---|---|---|
| Paycheck | $5,730 | Rent | $1700 (2BD) |
| Car payment | $700 (0% interest - paid off in 2021) | ||
| Car Insurance | $300 (several accidents, I know) | ||
| Phone | $90 | ||
| Internet | $70 | ||
| Internet Services | $10 | ||
| Food | $200 | ||
| Utilities | $100 | ||
| Entertainment | $100 | ||
| Extended daycare | $300 (shared custody of my daughter) | ||
| School Lunch | $60 (shared custody of my daughter) | ||
| Credit card debt | $300 (as of 10/15, total amount rounds up to $6,000.00) | ||
| Healthcare | $ ? (As part of my divorce decree, I will cover my daughter's under my employer's plan) |
So at the end of the month, my cash flow balance is at $1,800. Not sure how it fits here but I also put away $460 per month in my employer's 401k (no match). Taxes-wise, it hurts and I know it's gonna hurt again next year (I declare 0 exemptions).
- Because of my divorce decree, I cannot relocate to a different geographical location.
- This is preventing me from finding a cheaper apartment and my daughter needs her own bedroom.
- I am thinking of trading my car in for something cheaper but I am debating if financing is worth it.
- Because of my divorce decree, I'll have to provide insurance for my daughter in 2019 and plan to use H/FSA
What else can I do to improve my cash flow?
Submitted October 15, 2018 at 12:07PM by VegetableIndication https://ift.tt/2AbzcWI
