How can I save money

[mobezom]

I am a single parent of 3. I make about 50k a year… take home about $3,600/month. Live paycheck to paycheck… but literally how can I save money? Any time I try I have to pull money from my savings just to survive. I know “increase your income” is the best move, but that’s not in the cards right now. I work from home to not pay for daycare. If I had to pay for daycare we’d be living on the streets. I also make too much for any assistance. I just am at a loss on how people are surviving right now.

Edited: my ex pays child support, $900/month which is factored into the $3600.
I also was doordashing on the side until my car was stolen 7/31, I’m telling you I can’t catch a break. If I didn’t have bad luck I’d have no luck at all.

Thanks everyone for the input.

 

[rosenco2002]

@mobezom There is no magic lever that will allow you to change your circumstances and start saving.

You have two choices, and only two choices.

A) cut expenses.
B) find a higher paying job

That’s it. That may be a tough pill to swallow and I wish that there was another way.

 

[stephen3141]

@rosenco2002 There's a third option. Be a part of a two income household.

 

[cologne]

@rosenco2002 This. Might not be the answer she wants to hear but it’s the only way. Other than moving to somewhere with a lower cost of living

 

[beaton]

@rosenco2002 Sad fact…you can’t beat math.

Numbers don’t lie.

 

[jo412]

@mobezom Consider signing up with a local food bank or similar charity. They're not all income based, and even if they are I'd guess that supporting 4 people on your income might be considered low income. If you can get some ongoing support for food basics, that frees up some cash that could go elsewhere.

 

[heptatron]

@mobezom Where do you live? Join the FB shopper groups for the stores you shop at. There is tons of shopping advice. The Walgreens couponing groups were loaded with advice on getting freebies last week. Load the apps and clip coupons. Earn rewards for free groceries.

Visit a food bank.

Join the local Buy Nothing FB groups. Peoples give so much away. You can also ask for items you need.

 

[naturewalk]

@mobezom Single parent of 3? How much are you getting in child support from the other parent or parents? It takes two people to create a baby, and it often takes two people to financially support one.

 

[mobezom]

@naturewalk I get child support, included that into my monthly total as well. $900/month. I have young teens and a baby. It’s helpful but still feels like I’m barely scraping by

 

[naturewalk]

@mobezom Do you have a comprehensive budget that lists all your expenses? If you can't increase your income right now, it makes the most sense to see if there's any spending you can cut.

 

[mobezom]

@naturewalk Do you recommend any apps to do this? I’ve tried making budgets so many times. Nothing ever sticks

 

[naturewalk]

@mobezom Let's start by tracking your current spending. You take home about $3600 a month. Do you know where that $3600 is going?

 

[randomallocation1]

@mobezom Mint. Free and it does it all automatically

 

[iamdayton]

@mobezom There is not an easy answer to this situation, but highly recommend Caleb Hammer's YouTube videos where he does financial audits. I have seen most of them and there are definitely some people in similar situations as you. I think he helps break things down logically into short term (how to set up a budget, cutting down on unnecessary expenses, attacking debt and establishing short-term emergency funds) and long term goals (increasing income through career planning, getting to debt free/only low interest debt, setting up a 3-6 month emergency fund, saving for retirement and college).

Also can be entertaining and a great warning to watch out for lifestyle creep.

 

[quynhphat]

@mobezom Do you know for a fact that you don’t qualify for public assistance? Even if you don’t qualify for full assistance there are many intermediate programs that could ease the pressure you are experiencing. Without knowing where you are and what particular needs you have, I can’t give more specific ideas. I think I’d contact your local social services department and see if they can give you any direction. I hope this is helpful for you.

 

[mobezom]

@quynhphat I’ve tried food stamps, just something like that would help tremendously, but after the phone interview which took forever I was informed a make $206 too much per month

 

[gowdy]

@mobezom With a baby, you may be able to get WIC which is separate and different from food stamps. Also, see if your kids qualify for free or reduced school lunch. Local food banks and/or food pantries can help you reduce your grocery costs. Look into programs for reduced internet and utilities. If there’s a community services office in your area, make an appointment to see what services and programs you qualify for. Hang in there and good luck to you.

 

[hope4love]

@mobezom What about housing? 50k for four people seems to be well within safe and clean fixed rate housing standards.

 

[boules1234]

@mobezom One thing I haven't seen mentioned, $900/month for child support for 3 kids seems REALLY low. I only know how my state works, but did that number come from a state-mandated formula/did you have lawyers involved?

Some of these comments, people are really being jerks. Good luck to you.

 

[feesperanzaamor]

@mobezom Do you have room for a roommate to share your housing expense?