Question

I need HELP.  I am tired of living paycheck to paycheck.I need HELP. I am tired of living paycheck to paycheck. My husband and I make quite a bit, but we definitely live above our means. I have had the Budget by Paycheck workbook since December and I haven’t even touched it. We have about $36k in debt (including our cars) and it just seems so impossible to pay off. We would like to buy a house next year, but will have to pay $440k+ due to where we live. I want to get our ducks in order so we can do so. Where the heck do I even begin?  momma is defeated.  

Answer 1

Start with a budget ‍♀️. It's not a sexy get rich quick scheme. It's about doing the work and being disciplined. Even 1k savings sounded like a huge unattainable amount when I first started this. But this year I saved over 20k on a single moderate income. It's kinda cool and amazing what's possible when you just stick to it!  

Comments

@diageotropism534 that’s amazing!  

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@cardiganshire4652 thank you! But yeah I definitely remember feeling like it was super out of my reach and it's just been crazy seeing it add up  

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@diageotropism534 were you still paying off debt while you were able to save $20k? That’s is just amazing either way!  

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@lavatory no this past year has been strictly savings no more debt ☺️. But I think some people find paying off 20k of debt just as or possibly more exciting and motivating.  

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@diageotropism534 well congrats on being debt free! I have a long way to go without counting my mortgage! But somethings gotta give, I gotta get serious and focused! My hats off to you!  

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@lavatory thanks girl! I mean it's the same hustle just different goals. Whether paying off debt or saving, it's the same drive and focus needed. And you'll get through it faster than you think!  

Answer 2

Text me a list of your bills by due date and your income. I will help you set up your budget.  

Comments

@lev1 if you’re free to help I’d love some too!  

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I need a budget too please!  

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@lev1 i need help with my budget too please

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@lev1 I’d love some help too!  

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@lev1 girlie you should make a video with how you do your budgeting!  

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It is great of @lev1 to do this, but I hope all of you have started with Miko’s budget crush course!  

Answer 3

You cannot be defeated! It is time to start! Have you watched any of Miko's videos about budgeting? It seems as if you are READY and making up your mind to DO it and live a little below your means will make all of the difference! No time like the present! Good luck- you CAN do this.  

Comments

@nolpros958 I love watching them, it’s just so intimidating when I think about starting!  

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@cardiganshire4652 dont be. first step is grabbing a pen and start doing it. also download Every Dollar app. u got this!  

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Kelsey, just start! You will be great!  

Answer 4

Make a list of all your bills, including gas and food. Also make a list of all your debts with interest rate and min payment.  

Answer 5

The best thing you can do is start tracking your spending. You can’t make a good budget without already knowing where your money is going and what can be cut out

Comments

@guyer exactly! start tracking first!  

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@guyer 100% this first! We were in the same boat and doing this step was eye opening!  

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Same! Amazon is my weakness and it was embarrassing to look at, and tracking also made me so much more accountable for my spending!  

Answer 6

I would love to help you! Send me a list of your bills with due dates and how much you bring home per month. It’s so frustrating at first but once you get started it’s addicting. Write down your goals and your why. It helped me a lot.  

Answer 7

It IS possible to beat this. Also listen to Dave Ramsey podcasts, they are super helpful, practical and inspiring. Educate yourself and take control. You can do this!  

Answer 8

Start with writing out due dates of all your Bill's and determine how/when you need to pay them based on how you get paid (monthly, biweekly, etc). And if theres any you think you can get by with canceling (a lot of people cancel subscriptions they dont realize they are still paying). Then either pull expenses for the month of April or start with May and see how much you're spending on each category and decide where you can make cuts from for June, and continue auditing yourself every month moving forward. I would recommend not using EVERY page of the workbook as it can be VERY overwhelming and feel like you're not making much progress. Seems like you have had the AHA! moment so just remember that feeling and whatever you decide to do, you cant go wrong!  

Answer 9

Do Miko’s email course and start tracking your spending. If you don’t know where your money is going, then you can’t make a budget. You have to have a budget to stay on top of your money.  

Answer 10

So I love the budget mom but I found myself not wanting to ever open it bc it overwhelmed the crap out of me! Start simple by tracking your expenses!  

Answer 11

Kelsey, I too had the book for several months before starting and would start and then not finish out the pay period let alone the month. This month I decided I had to do this or die trying! No I won't be perfect but I have to give it a shot. What I lack is motivation. I have been listening to podcasts about finances and then watching Miko's youtube videos. That seems to be the best thing to get me motivated to start. When I know a budget day is coming up I start listening to her and that has helped me so far this month. fingers crossed I can keep it up!  

Answer 12

I was in the exact spot in August. Literally living well above my means, spending out every dollar I had. Living paycheck to paycheck, Without anything in savings. August 11, I started a budget- down to the penny. Today we have over 18k in our savings. Sometimes you have to feel completely defeated in order to be ready to grow! You’ve got this! ❤️

Answer 13

We have WAY more debt than you do and will be debt free in about 2-3 years. Its possible and not as hard as you think

Answer 14

Undebt. it !  

Comments

@norahnorbert264 I second undebtit. com! It lays out a plan that fits your budget and makes it feel so much less overwhelming!  

Answer 15

The first thing I did was go through my bank statement for the last three months. I put it in categories like rent, food, utilities, gas and most importantly eating out, Amazon, shopping. Then I went in the bathroom and threw up. Until you write it down and add it up you will not be able to begin. Then I made up a budget and dedicated my life, literally, to saving, slashing and economizing. I cut out all streaming, I made my lunch and even started making my ice tea everyday. You can do it. Actually it gets to be fun to see how much it adds up and how much you can save. You can do it. Good luck

Comments

@syllabize going through my bank statements will be the most eye opening part  

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@cardiganshire4652 yes. It’s going to make you want to give up. But like someone said to me that once you do that you can only go up!  

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@cardiganshire4652 yes it will, it definitely can make you angry or sad buuuut it will help to have a realistic view and then go from there. If you use cc a lot make sure you look at those statements too. We are 1 income bring home about 3k and I realized we were spending 1. 2k a month on food

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@cardiganshire4652 this is the suckiest part, ur first 3 mos is like ur practice and get to learn phase. but u will learn and discover more but its a good thing. trust me its worth it.  

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This is the 1st step I took as well. It's an eye opener and motivator to get all ducks in a row!  

Answer 16

Start tracking you income-spending. Then monitor your bills, find out due dates. Then on the day you get paid you see how much comes in. Then which bills are due between that paycheck and the next. Create a budget. Bills first, the envelopes like groceries/gas. Figure out how much you have left over. Then take that amount and set some aside for sinking and some aside to pay towards extra debt. Example: if you have $300 left over. Put $100 towards sinking. $200 towards debt. You need to put majority towards debt over sinking. If you don't have spare money do away with cable or internet, unless you need internet. Or you can call them and see if they can lower your bills. Always pay min first towards your credit cards then the extra you have. Stay positive. You can do this you just have to find your groove.  

Comments

@casper Kite great tips! Thank you  

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@cardiganshire4652 you are very welcome. I had such a hard time getting started, im 1 year in and will have my debt paid off this week, have $2k in sinking and 1300 in bank. It just helps you make better choices. And we get an allowance so you can splurge. This is a journey not a race. You can do this. Reach out if you need any help.  

Answer 17

Definitely use the budget workbook. It HELPs! And watch Mikos YT videos. Takes some trial and error but stay persistent

Answer 18

1. Put up the credit cards. No new debt! You make plenty 2. Make a list of your bills. Not discretionary spending just all the bills. When i did this that was a wake up call to how much we were using to “do” life with.  

Answer 19

The first thing I would do is review bank statements from the last couple of months to pinpoint exactly where money is going, then set a realistic budget for extras and cancel anything that isn’t necessary. After figuring out how much you have left once you’ve budgeted extras and monthly bills the remaining amount should go to your debtor/savings/investments. Pay your debtors/savings/investments first. Make sure your savings are accessible but not TOO accessible. Leave 100-200 as a buffer in case of a miscalculation in your account. Nothing higher or it will likely be spent. We live on one income, average salary, and paid off 20k last year. We just started saving in January and will hit 20k this month in savings and about 5k in the stock market. It’s crazy how much you’re able to save/invest without those monthly payments!  

Comments

@waterless so encouraging!  

Answer 20

Open the book and be okay with how bad it is. That was probably the hardest part.  

Answer 21

THANK YOU THANK YOU THANK YOU FOR ALL OF THE ENCOURAGEMENT AND TIPS ❤️

Answer 22

Start with her You tube videos ! It helps a whole lot. And don’t give up, it’s a bit complicated at first. But it will be worth it

Answer 23

Miko's course is amazing. Another great one is budget boot camp by Jordan Page. And its actually free for the month of may! Both ladies have helped me out a ton! Good luck

Answer 24

Do the email course and track your spending to start with. Every single dollar.  

Answer 25

I definitely relate to your situation. Over the past few years I’ve had to own up to my spending. I had certain financial goals but didn’t want to acknowledge that my actions were not in line with my long-term goals. Even if you don’t stick to your budget exactly, track! When you see just how outside of your means you are living, it will be a reality check to motivate you. You got this!  

Comments

Oh and happy Mother’s Day!  

Answer 26

Start small, round up all of your bills and start filling out your workbook. You paid for it use it! If you get stuck it is OK, watch Miko’s YouTube videos and ask questions here. It is ok not to get it figured out the first paycheck. It may take a few rounds to work out all the kinks. You didn’t get into your situation overnight and your won’t get out that way either. It is a journey but you will never reach your goals if you don’t start. Baby steps.  

Answer 27

I recommend starting with the free email course from the website. It teaches you step-by-step how to set up a budget by paycheck.   
https://www.thebudgetmom.com/

Answer 28

Starting is the hardest part

Answer 29

Watch the videos on her website about getting started. Track your spending this month to see where your money is going to you can get an idea for figures for your Budget for next one. Make sure to get all of your May bills paid by the last of the month so you can start fresh on June 1st. Do you have Instagram? I love watching Kumiko daily. It really keeps me motivated! April was my first month. I haven’t paid a ton extra off yet - but it makes me so happy to work on my budget! Also - take from her what works for you. I don’t fill everything out yet and I don’t use the cash envelopes. I figured out another system that works for me. There, but I still take leftover money at the end of the week and apply to debt - and replenish with each check. Just start!  

Answer 30

It is all about choices. If you set a budget especially with cash it gives you less room to make a bad choice with your money. I will be honest I didn't track my spending before hand. I listed my bills and took a good guess at the cash spending I would have. Then I adjust accordingly, but it really showed how fine we were without the extras. 7 months in and I have I have only adjust my budget about $50.  

Answer 31

I’ve been budgeting and saving for a while now. whoever needs help let me know!  

Comments

@statutable when u started. Did u use just ur first paycheck? I dont get when I get a direct deposit I have more than what my paycheck was. Do I ignore what was in my account and go just off my paycheck?  

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@cinematograph7 I budget my first paycheck and if it was more. Depending on what my goal is/was at the time. I would put it more towards debt or save in savings.  

Answer 32

Live below your means starting today!  

Answer 33

MOVE TO TEXAS!  

Comments

@cuspid  don’t say that  

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@warram Wide open spaces Stars Animals Reasonable cost of living Every corner has a church, a bar, a bank, and a store  I ❤️ Texas

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@cuspid I was born and raised in Houston. I love Texas too. We’re moving back after my husband is out of the military, we live in Hawaii right now now  

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@warram jealous!  

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@braunstein0 it’s a dream! I’m very lucky to live here! I’d stay forever if I could

Answer 34

You can do this! The first step is to start!  

Answer 35

All the Videos! And one day at a time. Set simple goals, one dollar at a time. Food is hands down our biggest issue, this is where I started!  

Answer 36

Just start with tracking your spending for a month or two. Don’t worry about the other pages until you know this. At the end of the month add up each category to see where your money is going. Once you see this, it will be easier to make a plan.  

Answer 37

If I were you, I would start with the next paycheck you get using the binder, don’t worry about your checking (use that as a cushion). Cash method was a game changer for me! It really made me question my decisions on target trips and what we truly need vs want.  

Answer 38

We have 200k in debt, 3 cars and an RV, you're in a better boat that we are! Keep your chin up!  

Answer 39

Quick question. How do you budget for spontaneous shopping? Like when your out and about I find something you would like to have. Does that come out of misc expenses our do you make a envelope for shopping? Thank you for all your help

Comments

@cowbell you don’t. You budget bed and pay debt with all the rest. You cut out wants until you are on track.  

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@cowbell my hubs and I have personal spending money. We can't complain about what the other spends their money on

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@lavatory Vandever Hall its also only $25

Answer 40

Track your spend, track your fixed bill, cancel all you can and creat a budget! Go heat and read the post, look at the Kumiko's videos, subscrib to email course! Go go go go! May the force be with you  

Answer 41

Just start month 1 with tracking all bills and categorizing your spending. Figure out lowest amount money you get pd. We are every two weeks. I write all bills on the calendar. Then see what paycheck will cover what. Then with the left over amount of money I divide into the other categories such as food, spending money, debt etc. As you get the hang of it, you can start figuring out what works. Stay committed, budgeting doesn't mean living poor or without basics. But putting limits on those things and prioritizing what's important.  

Answer 42

Start using the BBP workbook. Live eat breathe it until you start a routine

Answer 43

Take your monthly bank statement use different colored highlighters categorize spendingdraw it out so you can visually see it. I was you trust me! Once you see it it is easier to make goals for yourself in each category! I was shocked at my food spending

Answer 44

You have to have a baseline. that baseline is going to be your first months budget. You have to treat that like your financial success depends on it. If you don't start there and take it very seriously you won't know what changes you can make moving forward. Without an overarching view of where you are you won't know where you can go

Answer 45

Do her online course that is free, and go from there!  

Answer 46

Don’t feel defeated, just start somewhere. We started with $145k and it felt so overwhelming. So much so that we made budgets and failed, over and over. Fell off the wagon many times until finally we sat down and said enough is enough and just started paying stuff off so we don’t spend the money. Our journey began a little over a year ago and we tackled $23k in about a year. So far, we’re down $30k  and will have another $18-$20k paid off by year end. We get so excited paying stuff off now that we throw money at debt rather than purchases. Watching those balances shrink is so addicting. We should be debt free within 2 years. We want to buy our dream home with at least 20% down and my hubby is retiring 1/2025 so we have a lot of incentive to keep going, gazelle speed  Start with small balances, pay them off. Before you know it, you’ll be asking yourself what else can I pay off today?  

Answer 47

I started with looking at my last 3 months of bank statements, and writing down each category I spent money and totalled it up. Surprisingly I spent alot of my "extra" money doing my hair lol. You dont have to be as drastic as I am, but I cut all my hair off and saved all that money for 6 months to pay off some of my debt.