Help me figure out my budget.. PLEASE...?

Question

I work as an RN here's my average income: $1,200 every two weeks.. Just got paid today 7/25 & will get paid again 8/8.

Here are my monthly bills:

Mortgage - 345 due the first of every month

Truck - 440 due 7/18 (around that date each month)

Cable/Internet - $55/month

Cellphone - $80/month

Electric - $50/month

BestBuy - min. $20/month

Target - min. $40/month

JCP - min. $20/month

Water/Sewer - $70/every 3 months

Truck Insurance - $550 every 6 months (due in Oct.?)

Raymour - $50/month

Groceries - $200-250/month

Gas - $300-400/month (I drive an hour to work almost every day!)

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total of $1,700/month? around there.... total monthly income $2400

The mortgage and truck payment due dates have to remain the same.. but when would be the best dates of the month to pay my other utility bills/credit cards.. right now most of them are due in the middle of the month near my truck payment and its really cutting me short... some help pllleeeeaaasseee..

Answer 1

The good news is that you are actually making $2600 a month.  Since you are paid every two weeks you are getting 26 paychecks a year.  I figure you are paying out $1866 a month (using your high figures on gas etc).  That leaves you $734 a month after expenses.  Now what i do not see is anything budgeted for clothes or entertainment.  I would suggest you put 100 a month aside for that.  That leaves you $634 a month.  Don't spend a penny that is not addressed in your own budget figures and the $100 I added.  This will give you some extra to pay down your credit card debts.  Pay more on the one that has the highest interest rate first.  I would spend half of the $634 or $317 to pay on these debts and put the rest in a savings account for unexpected expense like car repair.  Good Luck.

Answer 2

Your budget is incomplete if you don't show where it all goes!

$2600-$1700=$900. Keep track of this money by keeping a detailed record.  These $900 are your salvation.

Once you determine you can live without the Starbucks coffee, and make your own lunch etc. and pay off those credit cards and cut them up.  You list "min" so I assume you are paying fiance charges only.  Get rid of this worthless debt.

You need to get ahead of the curve.  Consider another part time job to get out of debt and get some emergency savings.

As an RN you should have no problem.

Check out this article from Dave Ramsey the budget guru  He's helped many in much worse situation then yours.  Good luck. You can do it!

http://www.daveramsey.com/the_truth_abou...