In this episode, I'm featuring a Budget Rescue with Robert who asks:
"Hi Shannah, thanks for taking the time to answer my question. BTW I love the new name of the show. This is one of the only places I feel like we can listen to all different types of conversations and you always surprise me with the topics. It’s so cool. I’m writing to see if you would give me some insights into my monthly budget. Here’s my snapshot - I make around $5K per month and have a fairly stable job, at least I think so. Here’s my spending:
Rent - $1950
Car payment - $350
Student Loans - $300 once the pause stops in August
Credit cards - I owe $6300 on two cards and pay $250 on one and $275 on the other. I know I need to get rid of this debt
Groceries - approximately $100 a week/ $400 a month
Eating out - $500 (sigh, I like to eat out a lot)
Household items - $150
Dog care - approx $125 a month
Clothes shopping - $150 a month on average
Utilities - $250 a month
Car insurance - $165 a month
ATT cell phone - $127 a month
I know that I should have around $350 - $500 a month left over but the problem is that I don’t each month and I can’t figure out why. You’re super good at helping people with their budgets so I was wondering if you could give me some pointers and thoughts on what I might be missing or not including here. I’d like to be able to save some money for my ER fund every month and put some into a travel savings account. Thanks again for this show…it’s helped me so much."
Links Mentioned
Budget Rescue Info Form (Be featured in an upcoming episode)
4 Important Factors to Save Money on Your Car Insurance episode
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