Ho to deal with Money Management without enough income?

United States
November 6, 2007 12:54am CST
Hi folks, as a new blogger, I 'm trying to get my mind clean and get as much advice I can get about money management. I don't make enough money to pay off all my monthly bills and I live check by check without even putting anything on my savings. At the end of each month I get surprised that my debit and withdrawals are always greater that my deposits. I try hard to get this straighten up along with my wife...but can get it right. I read books about money mgnt but can manage my little money. So I decided to just put in more time and get every penny from the Internet and possibly I will make more money to cover all my needs and start savings some. I don't know if it is the right thing to do ..but I have no choice.
2 people like this
6 responses
@rsa101 (37968)
• Philippines
8 Nov 07
yeah were having the same situation but the poster above is right we have to learn how to manage what we earn before we even try to earn more since if you do not learn to save money you'll just get your bills grwoing bigger. maybe you should clean out your debts after which manage you bills. After which start saving money from the money save start them to work for you then your additional earnings will come to pass you by.
• United States
9 Nov 07
That is a good idea. I think it is true that saving money from money is the key! I think that I need to understand the real value of a penny! Sometimes we spend $.50 thinking that it's okay, we can afford it; Bad thinking!!
• United States
9 Nov 07
That is a good idea. I think it is true that saving money from money is the key! I think that I need to understand the real value of a penny! Sometimes we spend $.50 thinking that it's okay, we can afford it; Bad thinking!!
@musicman6 (2406)
• United States
25 Dec 07
Worldwideweb, let me tell you a little story, that might help you out! I used to have this problem also! Once upon a time I used to make $1200 dollars a week! But I was still broke after every payday! So it didn't matter how much I made, $120 or $1200 a week I was still broke and always out of money! What I was doing wrong was I was living on 100% of what I was making! That's why I was always broke! So what I had to do was learn to live on 90% of what I was earning, and putting 10% into savings, every paycheck, no matter if I made $120 dollars a week, or $1200 a week! I pulled myself slowly out of debt, and I always have money! You just have to make yourself do it!
• United States
30 Dec 07
Musicman6, you are awesome! I agree and I think that should be the best solution. I think I live on 120%! But that is exactly what I'm about to do.I will be miserable for a while, but I need to cut it down to 80%.
@sang2k2 (1833)
• India
8 Nov 07
hi www, according to me had this been the case with any person that person will never get more withdrawals as compared to the deposits. I meant that if the withdrawals are higher than deposits than evry time you spend money your mind and heart would bite you that i dont have suficient income to spend so much.I think you should plan youself and your demands and the income.You know whats your monthly bills are just try and control it, curb a certain demands. If you have your family than just talk to them about it as theres no point in showing your family that have lot of money , its better to be true and show them the mirror about things they shall help you to a great extent , then over a period of time you will even have savings, for few months you will have to bear the brunt but later you would feel happy and satisfied. the other way out is a part of your salary make a compulsory savings like you can open a recurring deposit account in bank or take some kind of investment of say ceratin amount 100 evry month and so you will spend less. all the best
• United States
9 Nov 07
Nice advice Sang, it could be very nice saving straight from the paycheck before you even receive it.But not all company offer such program; I wish mine does.
@clemub (2)
• United States
8 Nov 07
Well, first of all, you gonna make that money , and then learn how to manage it! I'm sorry to say this but you can not manage what you don't have! Money flies! If you live check by check, you will not have any chance to plan on how to use your money, it will be automatically distributed among your bills and you will find yourself empty pocket right after cashing your paycheck. So, you gonna make enough money first then plan how to use it. It is very difficult to manage small funds. Good luck!
• United States
8 Nov 07
I seem to have the same problem also. I can't manage the little money that I have. Looking for a better job is always an option to make more money to pay the bills that you have. I would love to find out how to make money online, but I don't think Mylot will actually make me anything worthwhile. I mean I sat here for 3 hours yesterday posting, and all I made was $.12. Is anyone else having luck with Mylot earnings?
• Brazil
14 Nov 07
Hi, I am blogger and to the same on on the internet I am getting now and I am making good money for the beginning I hope in a time and will earn more money for my applying it.