Question

I’m curious.  what happened (or didn’t happen) that finally made you realize that you should probably get your finances in order?I’m curious. what happened (or didn’t happen) that finally made you realize that you should probably get your finances in order? For me it was having a maxed out credit card, literally $0 in the bank and counting change out of my change jar so I could go to the gas station!  I quickly realized this wasn’t going to work for me financially and started doing all the research. I now LOVE it, and am curious what got you all on the budgeting train.  

Answer 1

For me it was that after a long term relationship breakup and I couldn’t afford my house payment alone even though it was less then most apartments monthly rent bc my income was being eaten up by credit card minimum payments. I sold my house used my profits to pay off a chunk of debt and have been chipping away at debt while living at my moms. It’s been less than a year but hopefully I’ll be back in my own place by early next year

Answer 2

The fact that I’ll be 26 this year and need to pay off my loan so I can afford health insurance without sacrificing my savings goals!  

Answer 3

Tired of the stress and worry.  

Answer 4

Well. My mom stopped buying me school clothes when I was 15 bc I had a job and then anything else I ever wanted I had to pay for. Then I had to move out of my mothers house when I was 17 and in with a boyfriend. Nothing screams get your shit together like a parent who won’t provide!  

Answer 5

Tired of stressing over if bill would be paid. I want my children to feel secure and not have to worry about where the next meal is coming from.  

Answer 6

Being almost 40 and being forced from our rental home with a months notice we want something that we OWN

Answer 7

It was depression and realizing I had spent so much in other areas of my life (accruing debt).  

Answer 8

For me it was a combination of things. I was losing sleep over the anxiety of our financial situation. I avoided my checkbook because I honestly had no idea what bills were paid, what needed paid, and how much we blew on things we didn’t need. I was emotionally and mentally done, and I knew that if we didn’t get a grip soon it was going to be ugly. Plus I felt like a failure. Both of us made decent money and yet we had nothing to show for it. I’m amazed at the difference in just a few short months. It’s such a relief to be ahead of the game, have bills paid on time, and be able to buy some of the wants that we need.  

Answer 9

Realizing I kept having to take from savings every month to pay for my rent. This was after I moved into an apartment by myself (i had a roommate before) and got a job that wasn’t paying for my car and my rent went up etc. and a maxed out card lol. I feel so much more secure now and I stared just in January!  

Answer 10

Mine was calculating the amount we spent eating out in 2019. The worst part was we had improved in 2019 from 2018 and it was still a disgusting number.  We love traveling and the number would’ve funded two trips for us. That was enough to get my husband on board mid January of this year and it’s been truly amazing!  

Answer 11

When my monthly payments for all combined debts were well over what I was paying for rent, utilities, and food combined.  

Answer 12

Personally I’ve never been in any debt, but I did grow up watching my parents struggle for a while when they were young. So my mom became the budgeter after that and always had me involved. So I always have budgeted since I started working at 15. Even got an MBA with a concentration on finance  I love crunching numbers, investing, yet living frugally. Being debt free is really the best way to feel stress free!  

Comments

@cliffordclift I love numbers, budgeting and investing! And totally agree with your last sentence!  

Answer 13

Deciding to become a stay at home mom and needing to live on one income.  

Comments

@slam3283 Serious adjustment. I became a full time SAHM after baby #2

Answer 14

My divorce and living off one income instead of two

Answer 15

DAVE RAMSEY VIDEOS LOL

Answer 16

When I heard the car being repossessed in front of the house. My ex was making the best money of his life but damn if he’d pay bills. That was 12 years ago. Now I’m remarried with two amazing kids. Retirement is on track and money in the bank. No one is repossessing anything. Our cars are paid off and so is the house.  

Answer 17

For me I got tied of being a slave to financial institutions. Ever time I got paid I had to pay bills and didn’t have enough money left over to do something for me or my family if I wanted too. Or always having to borrow money from my mom after payday. Now that I have found TBM not only have my bills been paid on time, I have money left over and haven’t had to borrow money. It feels so good to actually have control. I’m still a slave to financial institution . whatcha out debt free is just over the .  

Answer 18

My mortgage is 45% of my take home. Retirement in 10 years or less. Tired of Living paycheck to paycheck. Tired of stress from my finances. Can’t pay back family member who paid for my car. Second job because $ is so tight. Want to be able to cover unexpected expenses. Wow. I’ve never written all of this down.  

Answer 19

Paying $800. 00 a month to a credit card and depending on my husbands overtime to make ends meet.  

Answer 20

Realizing we had just signed a year lease in a shitty apartment. I want a house. And after years of living with my mom rent free, I never saved enough and always ended using it to help someone else out. It was time to help myself and my little new family first.  

Answer 21

Our lights had been shut off, I was behind in every single payment, countless eviction notices, never having money for anything. I waa over it. I had a job making over $52K but no one would ever know it. My family needed a change. I grew up with my Mom struggling and I was ready to break a generational curse.  

Answer 22

After I left my ex and moved out of state. I left a decent paying job which I have yet to find again. I left literally when my money ran out, my credit card was thousands, and had a personal loan to pay.  

Answer 23

I never had an “ah hah” or rock bottom moment. I just got tired of not having money for things i wanted to do or trying to cheat the system between paychecks. I literally used to get gas and choose credit instead of debit because i knew my bank would show a $1 hold so a had a time buffer before my next paycheck.  

Comments

Somewhere i found Dave Ramsey’s podcast and then did @clemente Cruze’s 7 or 10 challenge and that kick started my budgeting journey. I still struggled and do struggle but now I’m not worried about where my money is.  

Answer 24

My credit cards were maxed and I was struggling to pay bills. I had to start using money from my savings account and make some adjustments to my student loan payments just to stay on time.  

Answer 25

Mine was when I was using the last limits on each card every month. Then paying the minimum to turn around and do it next month. After sitting down and seeing how much I paid in minimums and feeling like I was never going to get ahead. Also not having a savings. That's when I decided I was done with my spending habits.  

Comments

@cruces That was me! Pay $50 minimum, get $20 added on in interest, spend $30  

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@veolaver Yes, exactly!  

Answer 26

I was an unmarried, SAHM and I no longer wanted to be in relationship with my children’s father.  

Answer 27

My husband and I were in the first semester of being full time students. We thought we budgeted everything and should have had plenty of (loan) money for the semester, but at Christmas our bank account was empty. We had to return the Christmas presents we had purchased each other. My husband sold his prized guitar to pay bills. We had a huge finger pointing fight. After reconciliation, financial stuff became my responsibility (I’m very frugal) and I was able to reign us in. We still made bad decisions occasionally and my husband had a hard time adjusting (he used to buy 2 venti Starbucks a day when in the military and would buy new clothes rather than do laundry). Now we are almost 10 years into marriage, have great jobs, a beautiful son, and have totally turned our finances around. We only have one car payment, our mortgage, and our student loans (hoping for pslf though).  

Answer 28

When we made $100k per year and couldn't afford HD cable (back in 2006) for our new TV.  

Answer 29

We had a decent savings but it became clear we were living beyond our means when we kept dipping into it. We started cutting extras and have started paying things off and building the savings back up. I’m glad that the things we were splurging on were easy to fix. We have always kept the important things like our mortgage and car payment (when needed) within our means. ‍♀️

Answer 30

We just closed on our new house, had more credit card debt than ever and I had no idea how we were going to manage to pay everything! The mortgage was going to be more than 1 paycheck. I was lost and disnt know how to manage things.  

Answer 31

We went negative every payday and pulling out to use our cards all the time which didn’t help with the rates on our cards.  

Answer 32

When we made the decision to file for BK. Weirdly enough this quarantine has been able to help us save more then before.  

Answer 33

I left my partner and came back to live with my parents with my son (almost 2 at the time). I left with nothing but our clothes. Even though I had paid for majority of the house furniture/appliances etc. it’s been 2 years and still don’t have a lot in savings or anything to show for it etc despite not having to pay rent, and only having minimal bills (phone bill, car insurance and car loan). I want to be able to get a place for me and my son, so I need to get my shit together.  

Answer 34

We had a short amount of time to build up cash for an oral surgery and vacation because I was determined to pay cash for her surgery and our vacation. It was then I knew we were being careless with our money (have always lived loosely on a budget).  

Answer 35

Mine was An amazing child and an asshole of a dad who belittled me

Answer 36

Honestly it was going from me being a single income barely making it to having a fiance who makes literally triple what I did and still having no money.  

Answer 37

My dog having to be put down. She was 13. 5, and my best friend. She had a stroke, and we didn't have the money to rehab her or to set up our house to make it more friendly for her after her back legs stopped working. Her cremation and return to us was more than the car payment, and while we paid it because I wasn't having her put in a vets office grave, it put us back.  

Answer 38

Being pregnant with a 2nd and wanting to make sure we are in a better place financially

Comments

@distiller Boom! Me too! Even though my finances improved from what I first posted after having our first we went for a little financial ride. We went from taking 9 months to pay off baby #1 to paying for baby #2 before he was born

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Nice! Yes my husband is transitioning out of military training and back into his civilian job where he will make less (until he can complete his certifications and use his military training in jobs- but that will be a process so he needs his old job in the meantime) so I’ve been working on saving and paying off debt as much as possible! We just paid off his car about a year early last week  

Answer 39

I met my husband 18 years ago, I was in debt living on my own but didn’t realize how bad, I slowly paid everything off, was out of debt and got cc again to just pay in full and build my credit, I financed furniture had no issues then he quit a job, waiting around to get another, then quit that job a few years later, then worked part time for a friend and quit that too, well long story short we were in foreclosure and maxed out cc for living expenses, I work full time he stays home with our daughter, I support us, I pay everything, I’ve been sued for nonpayment on the very first cc I ever got, it has been a long and bumpy road, I recently asked him about getting another job, he hasn’t made any effort, I don’t care if it is just part time, online, pizza guy, just something so I don’t have all the responsibility, he does have a pressure washing business but he uses that money for equipment, insurance for his business and sometimes I have to put money into that too  

Answer 40

Honestly, I remember being 6 or 7 and my mom and I were waiting in line at the grocery store to buy food. We didn’t have enough to buy what we put in our cart so we had to take up more time in the the line putting things back. It always stayed with me. Then years later, I was in college and had no money in my bank and maxed out my credit card at a clothing store and I had to return the clothes. I got an instant flashback. and from that day; I didn’t spend a dime that was not ABSOLUTELY necessary until all my cards were paid.  

Answer 41

Not me but people around me. My big sister had to take a loan out to buy a $1000 car one year and another year my dad had to give her money so she could have Christmas for her kids. Not that they didn't work but they just didn't and don't have a healthy relationship with money.  

Answer 42

I’ve tried “budgeting” but didn’t really know what I was doing. Had money in my account and spent it. Paid off a credit card and would max it out again. A customer of mine had me make some inserts for her wallet and she told me about the budget mom a few weeks ago. I binged all of her videos and Miko is such an inspiration. I bought the digital bbp work book and it all just clicked. I finally started using my cash envelopes and I still have more money in my account toward the end of my pay period then I’ve lever had my 14 years of being in the military. And will be paying off my first credit card by the end of this money. Keeping my money from my Etsy store away from my personal bank account. My goal is to be debt free and save at least 40k before I retire

Answer 43

It was after my divorce. I got stuck paying for all of our debt including his student loans from before we even met I couldn't afford to pay rent put food in any of my family members bellies but gas and the vehicle that didn't really work most of the time I wanted up being homeless and so did half my family Years later here I am the last copa dollars in debt being paid off I'm a nurse but I'm gonna continue going back to school to become even more and my family no longer needs to rely on public assistance hand outs or anything else.  

Answer 44

Always waiting for payday

Answer 45

I just want to be able to give my kids the best life I can give them. So I have goals. They can only be achieved if I get my stuff together!  

Comments

@placenta I feel ya! Not only do I want to do things with them, but I want them to always feel like it’s possible to do what they want. Monkey see, monkey do

Answer 46

I tried when i was married. Took the financial peace vlad. Taught the financial peace class with my then husband. He just couldn't budget, and kept spending and drinking. I got so sick of that life with him I left. Divorced last Sept. I've tried for years to save. Always had to scrimp. Now I'm sing and it's still hard. My teens want everything and can't stand bring poor. I'm trying to provide for them. No child support.  

Answer 47

I can’t even remember how I stumbled upon TBM but man I am so thankful I did! As a recent college grad it was the perfect time to understand my expenses and once I understood the concept of paying off your debt faster I was hooked!  

Comments

@spracklen2756 Anna Perfect timing! Debt, but more time to work, or possibly a better job

Answer 48

I moved out of my parents house and refused to ask them for anything or take anything from them so I had to make sure I could pay my own way without being completely broke.  

Comments

@examen Miller Haha! Join the club. I absolutely REFUSED to ask my parents for a dime. “Watch me, I’m an adult! ”  

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It worked out well! I mean I moved out with my boyfriend and here we are a year later, just got engaged (tonight lol it still hasn’t set in), for all new furniture, and we’re moving into a nice place on Friday. You just do what you have to do and it all works out!  

Answer 49

I've been trying to budget for years. Listened to every Dave Ramsey video, took the class, etc. It has not stuck for me. Not because his method doesnt work. I know a lot of folks it has worked for but it was hard for me to grasp. I just couldnt really really get it started. I just came across TBM and printed out the workbook and I'm so eager to really really work the methods. What really got me pushing to really dive into it is knowing how much we bring home a month and how much we give away to the MANY credit cards we have and it sickens me. So I'm going to give this an actual try this time. I really want it to work. We are $190k+ in debt (mortgage only 97k of that)

Comments

@relapse92 I started with Dave too, but struggled with not knowing exactly how to even set up the budget.  

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@veolaver that's what I had issues with. I just didnt know where to start.  

Answer 50

I'm not very good with budgeting just yet. I try and I practice. But my income, while substantial, is seemingly random at times and inconsistent. I have developed a few financially healthy habits over the last few years! I just want a family so badly honestly. I am too aware of the costs and difficulties that brings and I know with out at least the ability to budget, the family i want is completely unobtainable. (I have a great family but i want babies specifically and i want them soon! ) So I guess what keeps me trying is the soul urge of reproducing and creating a home. Otherwise i would be very frivolous!  

Comments

Disclaimer: I know I look 12  and it probably seems weird i want to rush that. I am actually 25. In a committed relationship for 6 years with the love of my life! We both make reasonable incomes and I have a flexible career and an enormous support system. I can't see a reason to not start a family now!  

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@ics Well it’s great to be aware of financial changes that will happen when having a family, I wouldn’t let it stop you. It’s all figure out able. And honestly not sure we could’ve ever totally prepared for it

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@veolaver thank you for your kind words! I'd also love to foster or adopt one day and that is a whole different kind of preparation with it's own costs ❤ this page is just wonderful!  

Answer 51

Realizing we wouldn’t be able to make our financial goals, and starting to consider bankruptcy at only 22.  

Answer 52

Seen my mother trying on her own to raise 3 kids and seen her not eat so that we can eat. That stay with me and it help me be wise with money so now that I am a mom and living paychecks to paycheck even though we both work my husband and I I feel like there shouldn't be why we live like that. I want to travel and build good memories with my girls and for that we need money to take them places.  

Answer 53

Being in the military yet still living paycheck to paycheck. Emergencies would happen. things breaking in the house. Came back from deployment and had to pay $900 for an electric bill! Had to go to hotel with my husband, son, cat, and dog for a day because yet again, the bill got messed up. I was tired of not being prepared. Started budgeting in January this year and I am addicted now and feel AMAZING being more financially stable than I’ve ever been before.  

Comments

@nuris2331 Isn’t it so fun?  

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@veolaver yesssss my husband is streaming so I’ve been stuck in the room happily for hours working on my budget on excel  first time doing excel and I feel like such a nerd - it’s soooo much fun  

Answer 54

When I added up all my monthly bills and realized I have $120 a month left for gas and food. And realized that’s why I racked up $20, 000 in CC debt.  

Answer 55

For me it was the Trump tax changes for 2018 that required me to pay more taxes not fewer. Wanted to better manage that change without changing either retirement contribution or savings contribution. So spending was what I needed to control.  

Answer 56

It took me losing my job, going through bankruptcy because I was living with my husband well beyond my means, then divorcing to get my crap together. I had spent 11/13 years of my daughters life in survival mode. Paycheck to paycheck, just trying to make it. I started using TBM last @masurium after continued failed attempts and then it took me 9 months more to really embrace her methods fully and stop resisting my own insecurities about what financial freedom meant for me. Ironically enough, I am so much better off after bankruptcy than I ever was before or during.  

Answer 57

Not being able to pay student loans and not having money for vacation.  

Answer 58

I was a cash spender during my divorce and it felt amazing. Then it got hard single mom 3 kids all the animals and a running a home daycare. Kids need school supplies, sports equipment, etc. Got myself into using credit cards. Now kids are all moved out and my partner helps out a lot. I am working on being a cash spender to take away money stress.  

Answer 59

For me it was buying a house with the intention of having two of the rooms rented out then the both bailing out. Had to figure out quick how to pay my mortgage not the way I had planned it

Answer 60

We want to retire early and enjoy our life and buy a house on the coast. And we knew we couldn’t do that living paycheck to paycheck

Answer 61

We were out to dinner for the like the 3rd time that week and my husband said to me he was tired of being poor. We made more than enough to cover everything and then some yet by the time payday was coming around we were down to like our last $100 with nothing having gone to savings or towards our debt. The next week we started envelopes and after that we found ourselves with $2000 free to throw at debt. Things have changed a bit since then due to job and life changes but we’re still more than comfortable since we’ve started budgeting and knowing where our money is going

Comments

@robertaroberto Ahhh! Those first few budgets when you find all sorts of money. The best!  

Answer 62

Wanting to leave early after all surgical were done and still 5 hrs till my shifts ended. I asked to leave early knowing the night shift was in and my charge nurse said no just because she could. Pissed me off . I wanted to walk out then realized I had debt. Once I got home I looked at this numbers and that was my epiphany moment  

Comments

@galven76 Ha! As JL Collins would call it. You need some “F you money”

Answer 63

I left my financially, emotionally and mentally abusive husband a year ago and realized it’s not easy to rebuild when you have nothing and you’re a single mom. I don’t have it down pat, I research and get overwhelmed with all the information and stop. I need to figure out how to do better

Comments

@poacher85 There is so much out there! I feel ya in that one! When I started every-time I found 1 answer I also found 3 more questions

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@veolaver absolutely

Answer 64

I realized I didn’t have anything to leave my children.  

Answer 65

Deep sigh. Divorce/ relocation- spending like I was on vacation because I moved to a beach community. Then- covering two kids in college by myself. Reality. I could not do it all and not pay attention to what wAs most important. I wanted to buy a house by myself. After starting TBM in August, bought a condo for myself in March. Car is almost paid off. No CCs. No college debt for kids. Graduation and now independent with big boy jobs. Granted I had started to fix it before TBM. But- wow- now I know what I am doing! You can do it!  

Answer 66

Realizing we were in a similar situation as you posted. And we were making far too much money to be in that position. So much wasted money.  

Answer 67

It’s all my husband and I ever argued about.  

Answer 68

Mine was usingy credit card to buy groceries because I didn't have enough left out of my paycheck. I had like 4 cards and all had high balances. I am a single mom of 6 and had 5 at home. I finally decided I could live that way and trying to support the kids.  

Answer 69

Fear. Fear of knowing that his military career is aging out and knowing we had our heads in the sand because it was scary. Mature? No. Not at all. But  honest. Ignoring reality certainly doesn’t make it go away though. We hit a backslide when the pandemic started—not with accruing debt really or completely messing things up. We just totally backed off categorizing things and pulling cash out etc and not tracking. We’re about to move though and we’re in the process of buying our first house () and the fear has hit again big time lol. So I started getting back to business this afternoon. When we move we’ll be losing about $1500/mo in income and our housing payment will be going up. We’re still within our means but a lot of things are going to change and we need to buckle down again, so we are.  

Answer 70

Seeing how much I make but nothing I have in the bank. No having money I need for my kid due to poor planning

Answer 71

Barely any savings and 3 maxed out cc’s. If anything was supposed to happen i would be in a serious trouble

Answer 72

I found my soul mate in Algeria. We married two years ago and I was putting everything on credit cards. His mother died a year ago and we did not have enough money for him to return to be with his family so I had to borrow my sister’s credit card. That was my turning point. I may not have a “why” but I sure as hell have a “I’m not going through that particular hell again”

Comments

@whistling  

Answer 73

Had a baby  he will be 1 next month and I wanted to be sure I could afford his first birthday!  

Comments

@mismate Babies!  

Answer 74

Two years ago, I was spending half of my take home pay on food. Over $800 a month to food I was either buying at work or letting do bad. It wasn't that I didn't make enough to cover my bills; I just didn't know how to discipline myself. Tracking where my money went opened my eyes more than overdraft fees and maxed out cards.  

Comments

@interlace Tracking is so eye opening !  

Answer 75

Working hard in my profession and making good money only to be struggling all the time. Finally I was like, how is this happening? Big light bulb. felt pretty dumb after that, but it had to happen, and it was for the betterment of my family.  

Answer 76

Same boat as you, spent all my paycheck on eating out, and coffee and snacks all the time, then when I ran out of money on my debit card starting using my credit card like a debit card, and never being able to pay it down. I had to up my limit a few times, yikesss. It was not good. I had a little in savings, but something went sideways, and I didn’t have enough money to pay for it, I felt like shit that I couldn’t afford to afford that one thing that was essential, some sort of emergency. (I can’t fully recall now) That was my turning point. I hated that feeling of anxiety! Like OMG I’m going to drown, this is sooo sad I have to scramble! I said enough! and since November(being told by a coworker about TBM, thanks Erin) I have paid off $1100 off my credit card and saved up my emergency fund, and am still accomplishing both each and every paycheck. I Want to beef up that emergency, and pay down/off that credit card! Never knew paying off debt could feel sooo good! I have a ways to go with my credit card, but I’ll get there, and yes its slow progress, BUT ITS PROGRESS! So keep working! We will get there! One step at a time!  

Comments

@lennyleno7 The anxiety!  

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@veolaver it’s such a terrible feeling!  

Answer 77

I'm just tired of not having money left over after I get paid. I'm tired of having no money in savings. I'm tired of being in almost $70k in debt before the age of 25 (most of it is student loans).  

Answer 78

I realized how wasteful we were being with money. I make really great money and we have a lot to show for it (savings, no debt, homes and toys) but for the goals we have, I realized we could reach them in a fraction of the time by not wasting so much. The last straw was when we spent over $7700 on food in one month for 4 people.  Not gourmet food, not eating out at nice restaurants, just food. After that, I told my husband we needed to sit down, get serious about what we want our life to look like, set new goals, and put things into motion to get there asap. Wasting money is not part of that equation.  

Answer 79

I was scammed. 8, 300 dollars later out of my account/credit card and the bank refused to help me. From that moment on I knew I had to get my finances under control and get out of that extra debt that was now on top of my own debt. I told myself I could dwell and cry about it or I could buck up and kick it in gear. So I bucked up. Paid it off in less than a year plus 12, 700 to debt.  

Answer 80

Having a son and wanting to have financial stability for us.  

Answer 81

Tried to get a first apartment after getting married. Couldn't get approved anywhere because of my husband's credit (financial issues from previous divorce). It was a wake up call that credit score really matters and that we needed to take control of our finances together.  

Answer 82

We are tired of living in apartments and want to buy a house.  

Comments

@catechize Going on 5 years in our 2 bedroom apartment. I hear ya!  

Answer 83

My husband bankrupted me behind my back!  

Answer 84

Husband dying, being left with two kids (3 & 9 months)

Comments

@solubilize I’m so sorry to hear!  That’s a very big fear of mine with 2 littles!  

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Just make sure you have life insurance policies. God forbid it happen, but being prepared is the only thing you can do. ❤He didn't, and it was a hard hit to pay funeral expenses and I got laid off due to the corona virus a week later.  

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@solubilize We do have a little for each of us, but honestly should probably up them! I hope things start looking up real soon for you! ❤️

Answer 85

Depleted all my savings cause I spent to much in January. Xmad and everything else hit and I shopped the remaining away. No more emergency savings and still in credit card debt

Comments

@mingo Christmas can be a killer!  

Answer 86

I'm bipolar and when I get money I spend it to get that high. I spend mostly on technology. When I know I have money coming in I already start thinking of the things I can spend it on. After much therapy and medication I have been able to start setting tools in place to help limit my spending. I budget, but not only that, I keep money away from myself. I have multiple checking accounts (my envelopes) that I use to budget my money every week. I have my main checking account that my VA money and paychecks go into that feeds my other checking accounts: 1. $100 a week to my grocery account, 2. $50 a week into my gas account, 3. $30 a week into my subscription account, 4. $5 a week into my Amazon account (default of my families digital purchases that they pay back to this account using Venmo), and $25 a week into my fun money account. My EF is with a different bank that I already have funded at the moment, but when that isn't at its set amount I have $25 a week go into that (plus whatever extra I can throw until it is full). Everything is automated at this point, and my main bank card stays put away. I labelled the other bank cards so I know what is what. Any extra money that comes in goes to debt. after my debt is paid I plan on saving up 6 months of income. After that I plan on saving up to buy another car with cash. After that I plan on starting to invest. I think this should all take me about 3 years if I stick to it, and it is great when I see another thing checked off the list!  

Comments

@ophthalmoscope it’s so interesting to see everyone else’s technique and process! Seems like it really working for you. I do electronic and cash envelopes. E fund , my sons savings account and new car fund are in HY savings acct . I am also planning on saving 6 months of income after my debt (around $15k left) and then buying my dream car - Q50 infinite but all in cash  annnnd just like you, waiting to pay off my debt to start investing. Good luck- seems like you really got it down!  

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@ophthalmoscope that sounds like a great plan, you can do it!  

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@ophthalmoscope I love all this! Automation can be so helpful!  

Answer 87

I realized when I got asked to be in two wedding parties for my best friends and both being destination! How in the world am I going to afford going to Arizona & Dominican?! So I found the budget mom and started my sinking funds and paid for my trips in Cash!  so thankful for finding The Budget Mom

Answer 88

Living paycheck to paycheck

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And realizing that any extra money was going straight to debt and taking me further away from my goals. How I’m spending isn’t aligned with my beliefs. The anxiety I have as a result of feeling insecure about my finances.  

Answer 89

Governemnt shut down last year

Answer 90

Wanting to save for a house but unable to pay off credit cards

Answer 91

Initially it was totaling all of my debt and being scared by the actual total. What actually made me get traction in getting them in order was the current pandemic - while I have the privilege of still having a job that if fairly secure, that same job means I'm seeing exactly how much of an impact the pandemic is having on many people's jobs/incomes.  

Answer 92

I realized when i saw my cousin living paycheck by paycheck and still asked money from her parents because she does not have emergency fund at all (no judge but at that time my mom just finished her master so dont really want to burden her more) and i just happened to saw tbm on instagram then it really hits me that i need to get my finances in order (im an international student) now im able to have 1 month worth of EF which is a big win for me

Answer 93

I was determined to stop working full time after my second was born. Totally doable!  

Answer 94

I am 63. Got tired of being in debt, 2 previous bankruptcies, looking at retirement but debt. Watched TBM, followed posts. 1 yr ago took a deep breath and. 3 cr cards of off, only $3200 on my car and that should be done in 8 months!  

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We are almost twins! I'm 62, total crap credit and want to buy my own house - no savings. At least I just got the last child out of the house, so it's just me plowing along.  

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@sisterhood keep at it. You’ll get there! I never thought I’d have $ in envelopes, savings and of off cr cards!  

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I know. I had to replace a tire this weekend due to a nail. And I had the money to do so! It felt so good. The bills were paid. I wasn't having to put it off or rob Peter to pay Paul in order to get the tire I needed.  

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@sisterhood it’s empowering!  

Answer 95

Wondering why we always felt so strapped when my husband makes such a great income. We sat down and realized we were $116, 000 in debt We buckled down and got serious with budgeting and saving. Now we only have $43, 000 left and we can finally breathe. Can’t wait to finish paying off our debts.  

Answer 96

Truly for me I started a part time network marketing gig where I had load all my debt and run my credit and once I seen that I was like how the hell I'm suppose to help somebody when I'm doing trouble myself. I feel so much better to have it written down in my face

Answer 97

I’ve realized it for awhile now, when we were struggling living paycheck to paycheck, barely able to afford diapers. It wasn’t until after I bought the bbp workbook that my husband had his “ah-ha” moment when I told him that we make $400 more than bills a month and he freaked out. “Where does it all go?! ” Lol now he’s on board and so far we’re going good. Only been 6 weeks. So fingers crossed we stay with it!  

Answer 98

We would pay all the bills as soon as my paycheck hit and barely have enough for food or anything until the next paycheck came. We only have my car loan and $0 payments on my student loans. We found we were buying unnecessary things in addition to bills. We couldn't see past that first day we got money.  

Answer 99

A few things for me - 1st realizing that my debt payments were creeping to almost half of my basic living expenses. 2nd I knowing that debt was preventing me to truly enjoy my favorite hobby. (I LOVE to travel). 3rd. Wanting to move states with as little to no debt as possible.