Beginning budgeting. HELP?
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so we want to start budgeting RIGHT because the method we're using right now is obviously not working.
Our issue is getting started. we owe money on all our monthly bills and are working towards getting them paid off. the problem is, everyone wants money NOW, so we pay off one bill and spend the next 2 paychecks paying off another bill, leaving the first bill with a month;s charges with no money to pay it. now we're going to change some of our spending habits, and ive worked it out that for ALL living expenses, we're paying out about $2170/month and our income together is about $2600, so it seems it would work out right? not for us. we spend frivolously without checking to see how much we have left and end up broke before next payday. we're also stuck in the whole vicious payday loan cycle which is tough to break. WHERE do i start?! ive tried mapping it out on paper but the issue is that since we already owe money, we cant get ahead. any advice or help?
Beginning budgeting. HELP?The absolute simplest budgeting method that will force you to stick with it and not over-spend is this:
1) Make your budget, which you say is $2170.
2) Get a set of jars/plastic tubs - one for each budget category plus one extra. Label each jar with the category name. The extra should be called DEBT.
3) When you get your pay, cash it out and deposit it in the jars according to the budget amount. Once you're deposited the budget total in any given jar, you cannot put any more in that jar.
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