Why is it, that no matter how much money I have, I spend it all? I get a disability check once a month, enough to get by on, but I spend too much every month. No matter whether it is a bank card or cash, if I have it I will spend it.
Yesterday I had to return some food at the grocery store so that I would have enough money for my rent check to be cashed. I spend for a week or two, and then seem to hang suspended, counting the days until my next check. Can anyone else relate to this? What suggestions can you offer?
I would like to mention regarding the responses about working part time or switching jobs that many people with disabilities simply are not able to even though they truly want to :-( Their job is waking up from day to day and working at taking care of themselves and situations as best they can and contribute as much as they can for others so as not to become a burden to their loved ones and society. kitkatk100's idea about the money sealed in weekly envelopes is excellent!
Perhaps you could write down all of your expenses for each month. Budget a certain amount for groceries, entertainment, etc and try not to go over those amounts. You could also try putting the money in sealed envelopes; one for each week of the month, label them, and put those aside. I used to work a job that paid once a month. I never could make the money last all month, so I know how hard it is. Good luck!
I too receive a disability, but worked for eight years part time. You can do that too. Most people with disabilities are able to work part time and not full time.
Start with the amount of money you receive each month. Write that number down if you need to do that. Then, write and deduct the amount of each bill you have to sustain your life. That would be housing (mortgage or rent), electricity, heat, insurance, and telephone. Really look at these necessities to see if there is any way you can lower those bills. For example, are you paying too much for your cell phone bills or a higher tv cable package than you really need? Do not shop as entertainment. Only buy what you really need. Before you purchase ANY item, ask yourself if you really need it or if you only want it. Again, only purchase what you really need.
Consider changing jobs or get an education so you can earn more money. If you are not working, get some type of job even if it is only part time. If you are working a full time job, get a part time job to supplement your income. I wish you the best of everything life has to offer.
I had the exact same problem...probably still do, but I signed up with a credit counciiing service and now have a little extra money each month. My biggest downfall was mail order catalogs. So, I now browse the catalogs like always and fill out the order blank with anything I like. Then I put it away for a few days. When I take it back out I can hardly ever remember why I wanted the items. In the past I would have sent it off immediately and when I received the stuff I would have then wondered why I wanted the items. I still spend too much when I shop at Walmart. But there, too, I can add any items I like to my cart and re evaluate before going through the check out. I can usually put back several items. I know this isn't much but it may help a little.
It's totally a human frailty and normal! I too am on disability and what I do to avoid over spending is to try to focus on 'needs' and make it fun to shop for those needs icluding food, toiletries, transportation, etc. with coupons and discounts and also shop for certain 'needed' items at the Goodwill or Salvation Army stores as if they are Macy's :-) When I have a moment of drooling over what I think I 'want' I take a deep breath and ask myself, "Can I 'live' without it?"
Every time I can tell myself I can indeed live without it and simply go home, give my kitty, Rachel, a hug and sometimes take the extra step to call my very best friend or talk to neighbors to share thoughts of how Blessed I am to not be homeless :-) Oh, and I also make a game of saving pennys, nickles, dimes, quarters and dollar bills in various places for a rainy 'gonna splurge' day and that way I don't beat myself up :-) I so hope this helps you!
People spend to fill a void in our lives, to raise our spirits when we are down, and because we are addicted to it-as well as hypnotized into it by ads everywhere. that said, it is very, very difficult to fight it. I've fought it for 30 years, and where am I now? with two maxed out credit cards and living from one check to the next. I will do well for a while, then fall back into the habit of spending. there is Shopaholics, but I haven't been, don't know how well it would work.
The usual savings plans don't work for me, I justify, jumble accounts, don't balance a checkbook (can't handle numbers, I'm dislexic that way) and forget about bills that are not my standard bills and spend the money I should be saving to pay the non-standard bills. I see what I'm doing, but getting myself out of it is an internal cat fight which I rarely ever win. and now with the credit card changes, it's harder than ever to get out.
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Request: Spending More Than You Make (11/28/2009)
When you spend more money than you make each month you are bound to have money problems very quickly. The bad part is that most of us never realize we are spending that much until it's too late.
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Request: Spending More Than You Make
Archived on 11/28/2009
By Terry Rigg
When you spend more money than you make each month you are
bound to have money problems very quickly. The bad part is
that most of us never realize we are spending that much until
it's too late.
How many times have you used the credit cards to buy a TV,
school clothes and supplies, fixed the car, or any number of
things and not realized that you just exceeded your monthly
income. You may have even realized it, but thought there is
always next month.
Credit cards are the biggest culprit, but they aren't the only
way to spend more than you make. Things like payday loans or
car title loans also come to mind. Paying $15 to use $100 for
a week doesn't seem too bad. However, when you consider that
you are paying almost 400% in interest over a year's time these
loans make interest on credit cards look like a great deal.
Normally, installment loans have a lower interest than either
credit cards or payday loans, but they can still cause problems
if you aren't positive that you can make the payments each
month.
I consider a house payment and the purchase of a car
the only real legitimate reasons for paying interest. Very
few people have the means to make these purchases with cash.
If you aren't careful you can still get yourself into trouble
by buying or renting more house that you can afford or having
car payments that don't fit your budget.
I just recently received an email from a lady stating that her
and her husband wanted to buy a new car, but really didn't know
if they could afford it. This family probably saved themselves
a lot of headaches just by asking that question. I wrote back
showing her how they could determine if they could afford the
car or not.
My answer to her question was to have her develop a budget,
listing all of the other bills and expenses they have, and
then see what's left over. I also reminded her that she should
consider the extra costs like insurance, maintenance, etc.
Over the years I have seen people with as little as $500 a
month income manage their finances very well while someone
else with $5000 income can't make it last the entire month.
It all boils down to planning. If you plan your bills and
purchases each month with the goal of not exceeding your
income, you can make it on almost any income.
About The Author: Terry Rigg is the author of Living Within Your Means - The Easy Way
http://www.homemoneyhelp.com/ebookadpage.html and editor of
The FREE Budget Stretcher Newsletter and Budget Stretcher
web site http://www.homemoneyhelp.com. He has 25 years of
experience counseling individuals and families concerning their
personal finances.
