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YoungSaver · 02-27-2011, 11:55 AM

Hello, this is the first time I am living on my own and am a little nervous about expenses so I would like some advice if that's ok.

My Salary $1800/month
My Wife's Salary $600/month (she hates her job and it makes her miserable I would really like her to quit for her emotional health and the stability of our relationship but financially I don't know if it's possible)

We have $13,000 in the bank

Rent: $995
Electricity: $80
Water: $20
Car: $330 (I am trying to get a cheaper car but can't until I take my dad off the title because he is creating some obstacles due to personal issues but I can't because I do not as of yet have enough credit history)
Gasoline: $150
Cell Phone: $180 (We want to lower this a little by getting less minutes because we use a cell phone, we do not have a land line)
Internet: $50
Groceries: $90 (We are trying to spend this much a month or less)
Medication: $60
Misc. Expenses: ???? (I don't know yet)

As you can see with my wife working I believe we can do it but her job is really taking a toll on our relationship and I was wondering if anyone had any advice on cutting costs and stuff.

James · 02-27-2011, 10:00 PM

where do you live at? climate will help to take a toll on your budget, ned to know about weather first.

YoungSaver · 02-28-2011, 12:58 PM

oh ok sorry, I live in Miami, weather is good, we don't use the heater ever, and the a/c we keep usually between 80-85, hope that helps

briansol · 02-28-2011, 02:14 PM

An easy saving money plan is to switch to virgin mobile. $25 a month for unlimited data/text/web + 300 talk minuets and no contract. Get one for each of you and your bill goes from 180 to 50.
buying the phones initially is a bit expensive, but will pay for itself in just 3 months. Plus, you can get a new droid

virginmobileusa.com check it out. I've been on this for about 5 months now and don't know why i didn't make the switch sooner.

From the numbers above, i don't think you can have your wife straight up quit her job. Have her look for a new one. a 600/m job can be had just about anywhere so there are options.
I don't know how you live on $90 worth of groceries a month.... I blow through that in a week. And there's only 1 of me.

James · 03-01-2011, 08:08 AM

Whats going on with the car? How much is left to pay off that balance? If it's under 5,000 start putting another 50 bucks a month into it to drop the interest rates, your payment may go down once you're able to finally start tackling the actual principle.

brian is right, virgin mobile will save you some money (I lucked out with a work cell phone, I don't have that expense).

02-27-2011, 11:55 AM	#1
YoungSaver Greenhorn Join Date: Feb 2011 Posts: 4 Rep Power: 0	Is my monthly budget good? Hello, this is the first time I am living on my own and am a little nervous about expenses so I would like some advice if that's ok. My Salary $1800/month My Wife's Salary $600/month (she hates her job and it makes her miserable I would really like her to quit for her emotional health and the stability of our relationship but financially I don't know if it's possible) We have $13,000 in the bank Rent: $995 Electricity: $80 Water: $20 Car: $330 (I am trying to get a cheaper car but can't until I take my dad off the title because he is creating some obstacles due to personal issues but I can't because I do not as of yet have enough credit history) Gasoline: $150 Cell Phone: $180 (We want to lower this a little by getting less minutes because we use a cell phone, we do not have a land line) Internet: $50 Groceries: $90 (We are trying to spend this much a month or less) Medication: $60 Misc. Expenses: ???? (I don't know yet) As you can see with my wife working I believe we can do it but her job is really taking a toll on our relationship and I was wondering if anyone had any advice on cutting costs and stuff.

02-28-2011, 02:14 PM	#4
briansol Savings Advisor Join Date: Aug 2006 Location: Central CT Age: 32 Posts: 761 Rep Power: 7	An easy saving money plan is to switch to virgin mobile. $25 a month for unlimited data/text/web + 300 talk minuets and no contract. Get one for each of you and your bill goes from 180 to 50. buying the phones initially is a bit expensive, but will pay for itself in just 3 months. Plus, you can get a new droid virginmobileusa.com check it out. I've been on this for about 5 months now and don't know why i didn't make the switch sooner. From the numbers above, i don't think you can have your wife straight up quit her job. Have her look for a new one. a 600/m job can be had just about anywhere so there are options. I don't know how you live on $90 worth of groceries a month.... I blow through that in a week. And there's only 1 of me. __________________ Any thoughts or opinions are that of my own. Research your buys and sales on your own. I am not a stock broker.

02-27-2011, 10:00 PM	#2
James broke n' stuff Join Date: Jul 2007 Posts: 77 Rep Power: 5	where do you live at? climate will help to take a toll on your budget, ned to know about weather first.

02-28-2011, 12:58 PM	#3
YoungSaver Greenhorn Join Date: Feb 2011 Posts: 4 Rep Power: 0	oh ok sorry, I live in Miami, weather is good, we don't use the heater ever, and the a/c we keep usually between 80-85, hope that helps

03-01-2011, 08:08 AM	#5
James broke n' stuff Join Date: Jul 2007 Posts: 77 Rep Power: 5	Whats going on with the car? How much is left to pay off that balance? If it's under 5,000 start putting another 50 bucks a month into it to drop the interest rates, your payment may go down once you're able to finally start tackling the actual principle. brian is right, virgin mobile will save you some money (I lucked out with a work cell phone, I don't have that expense).

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