Broke and can’t budget
- Thread starter ccamosy
- Start date
@ccamosy Tough situation and i feel for ya. here are my options for you.
First, create a budget. Plan what you want to save & spend and stick with it. Put aside a set amount for diesel, insurance, loan, food, and entertainment. The idea is that you give your 100 for food and that's it !!.
On the budget review everything you are spending, see if you have unused subscriptions like Netflix and remove them.
If your child is going to kids birthday, it can be tough to put money in the card, however, we found that we pick and choose the parties. Aim for their best friends one, leave the rest. its sounds selfish but what they don't know wont hurt.
Avoid the takeaways and garages for food. it is crazy expensive for what you are getting. Budget it for one if you it's your thing.
review your tax credits. There are two tax credit i thinking may be for you. Single Parent Tax Credit which is worth 1750 per year and also there is rent tax relief. The online system is straightforward forward but always can reply in the comments if you need help.
Get a second income. I am thinking, Saturday 9 to 3 babysitting in your own home with similar age as your child. Friend of ours is doing the same and as a parent, this is valueable to us. 10€ per hour, CASH.
Lastly, Are you getting child maintenance?
First, create a budget. Plan what you want to save & spend and stick with it. Put aside a set amount for diesel, insurance, loan, food, and entertainment. The idea is that you give your 100 for food and that's it !!.
On the budget review everything you are spending, see if you have unused subscriptions like Netflix and remove them.
If your child is going to kids birthday, it can be tough to put money in the card, however, we found that we pick and choose the parties. Aim for their best friends one, leave the rest. its sounds selfish but what they don't know wont hurt.
Avoid the takeaways and garages for food. it is crazy expensive for what you are getting. Budget it for one if you it's your thing.
review your tax credits. There are two tax credit i thinking may be for you. Single Parent Tax Credit which is worth 1750 per year and also there is rent tax relief. The online system is straightforward forward but always can reply in the comments if you need help.
Get a second income. I am thinking, Saturday 9 to 3 babysitting in your own home with similar age as your child. Friend of ours is doing the same and as a parent, this is valueable to us. 10€ per hour, CASH.
Lastly, Are you getting child maintenance?
@jmfaith Dave Ramsey is arguable. His point of view is no debt is good debt.. If you have a dept that is payment manageable and is below 5% interest you should keep it for as long as you can because you're paying not that much of interest.
I'm listening to podcast on Spotify called "rich habit podcast" by Austin Hankwitz and Robert Croak. To me they sound to say the most sense.. Fairly American podcast that wouldn't include anything outside it but still they have a lot of valid points that can be used in here in Ireland. Have a go off it
I'm listening to podcast on Spotify called "rich habit podcast" by Austin Hankwitz and Robert Croak. To me they sound to say the most sense.. Fairly American podcast that wouldn't include anything outside it but still they have a lot of valid points that can be used in here in Ireland. Have a go off it
@ccamosy First things first, go easy on yourself, you have a job, a place to live, your paying your bills and most importantly you are involved with your child, it's not easy but you are making it work and when you are older you will be happy that you achieved that. A lot said on the car already, nothing to add there except if the car is mostly reliable and there are no big things like timing belt or four new tyres due it might be worth keeping, sit down and plan what it will cost over the next 18 months and factor that into any decisions. Mentioned elsewhere, become a hermit but only for three months have an end date in sight. You need a buffer for any unexpected expenses. Make your own lunch, make your own coffee, cook your own food, look into food bulk prep, be serious about your shopping and check can every item be had for cheaper, keep and review all your receipts once a week for any items that are excessive, socialise at home, drink moderately, too much alcohol costs money, motivation and you can burn money on fast food taxis etc. tell your friends what's happening and ask can they socialise at your/their home occasionally. Cut and reduce any subscriptions, netflix/Spotify etc, keep one TV only but only one at a time, cancel and jump between them to get the content you want, walk instead of drive when you can, you'll save money and feel better. Not sure what you are working at or based on your username if you are studying but you need to see if you can increase your income, talk to your boss and see is there anything you can do to get a pay rise, don't just ask for it, have a few ideas that might be appealing to them, if there is no immediate option is there cross training you could do with another person or dept that would make you more valuable. Explain your situation, they might have more options or just be sympathetic, we were all young once. If you are not studying other option is get a new job, maybe look into operator roles in pharma/biotek/manufacturing. They might require a course but the salaries can be over 80k with shift allowances and overtime. Have a target for a job you'd like and go after it, this will make being a hermit temporarily easier when you have a goal. Write your plans down and have a few points on how to achieve each one, look at them once a week at the same time and see what was done, what can be done next week and update where necessary. Keep this plan to yourself, your successes will be obvious and anything that doesn't go to plan or expectation is nobody's business but your own. Small success brings more success, getting trained if something at work shows initiative and will be rewarded or will open more opportunities, having a small financial buffer will protect you from unexpected spend. Remember you're doing great, be proud of yourself,you're meeting your obligations at a time in your life and career where earning enough will be tricky for a while. Make a plan, have goals, stick to it where possible and you'll do great. I guarantee that in a few years you'll look back and see that while it was tough you fucking did it! Also remember that your kid will not care how much you have just that you are there when you need them, being a parent is the greatest, hardest most rewarding thing you will do, you will never regret spending time with them, take loads of pics and have fun.Good luck, will be thinking of you.
@ccamosy Really depends on the industry you're in. Realistically you would be starting in smaller enterprise /company. Where PPE might be very lacking. When you gain experience you could move to an area of your choice. I weld stainless Steel in the pharmaceutical industry. Plenty of money in these companies for safety gear ( respirators that connect to your welding helmets )