So tired of being broke

LegacyUser

Hi,

Not sure if anyone can give advice or help me, just need to vent anyways. I'm 25f and I am so sick of being broke and constantly worrying about money. I am on a respectable salary but still struggle from one month to the next. I want to change jobs and this will involve taking a big salary cut. I go out occassionally and now feel guilty about it as I should be at home scrimping. I got paid less than a week ago and i'm already worrying about making it through the month. I actually cried a couple of weeks ago because of how much this is affecting my quality of life. The one thing I will say is I am very good at paying bills (despite the ESB) this is the one and only time i've fallen behind with something, all my loans, rent etc are paid on time. I did pay €150 off the ESB the other day, but wont be able to pay the balance for a few weeks. How do people cope with this constant struggle? On paper I should be able to manage, but there's just constantly something extra has to be paid.

username123

Sobrokeandsad wrote: »

How do people cope with this constant struggle?

Make a spending diary. Log every cent you earn, every cent you spend, and keep it for a couple of months.

Then examine where your money is going. Usually there are immediate cuts that can be made on silly things like expensive coffees or magazines or something.

Set out a budget. Set aside an amount to cover rent/bills/food per month (this is really why you need to keep the diary for 2 months as some bills are bi-monthly). Set aside an amount you are allowed spend on yourself (social life, clothes etc..) - and stick to it.

Check out cheaper options for things like mobile phone, broadband, tv packages. Shop around for things like car insurance, health insurance etc...

Grocery shopping, make a list, stick to it. Shop for staple goods in cheap places like LIDL and ALDI and only venture to more expensive places for special offers or specific brands. Go for things like vegetables in season, dont waste money on processed foods, make things from scratch - dont waste money on lunches in work - bring a sandwich etc...

See where you are doing things like wasting electricity (maybe running a drier when you could hang clothes out, or leaving heating on unnecessarily). Same for gas heating - turn the thermostat down and use less energy that way.

Do a clear out of junk and sell at a car boot sale - if you have a lot of junk this can be a lucrative one off.

Its really about you looking at your lifestyle and deciding whats necessary for survival and whats a luxury, and whats a plain waste. You can do it.

triseke

OP never be afraid to ask for a deal. My OH asked NTL for a better deal when they removed a whole heap of channels about 3 months ago, we got more channels and a tenner off our bill every month. it might not seem like a lot but do it with other companies as well and it can all add up.

The previous posters advice is very sensible.

Money is tight for everyone, so know that you are not alone. Everyone gets frustrated at their lack of funds at one point. Right now, im trying to think of what food i have that i can possibly frankenstein together into a dinner for my family. But things change, hopefully. Positive thinking!

silverharp

if you dont mind saying, what % of your net salary is going out on loan repayments? Also Ideally if you have a credit card you should be paying the full balance monthly, running a balance is not sensible

alex73

Ditto all of the above 1st response, You would be surprised when you dig deeper how much you can really save. Here are some additional good tips

1. Ditch SKY/CHORUS if you have them. They are a waste of money you can get BBC/ITV/CHANNEL 4 on free satellite. Since you are working you probably don't watch that much TV and you probably only end up watching the main channels.

2. Never carry Cash/Coins. Always use a Debit Visa. You would be surprised how you will begin to avoid buying small treats because you could not be bothered using your Card for a chocolate bar.

3. Ditch all credit cards. Only use a Debit Visa.

4. Prepare an Excel file of you spending and list income and expenditure by date.

5. Get the cheapest deal on all utilities.

6. Only buy what you need. Don't do weekly big shops if you are single because you will find you won't use some perishable's. Go to discounters where possible, same brands as tesco but cheaper. (however tesco's/Dunnes will also have discounts from time to time.

7. Do a weekly, Monthly, Yearly Budget, What you want to save, what you want to spend, Holidays.

8. Don't play lotto. Its 32 euros you waste a month. 416 a year. tax of the poor and ignorant. and Statistically you probably will never win. People with low incomes tend to be those who spend more on Lotteries. You should only game money you are prepared to lose. You sound like the people who can't afford it (if you play it).

9. Don't shop while hungry. You will buy on impulse. Always go with a list.

10. Try to avoid Tumble dryers/ Immersion heaters. Turn off lights, Dry and get your ESB bill split into 12 months. Pay it by Direct Debit on the same day each month.

11. Ditch the Phone line if you have one. You can get SKYPE on mobile broadband and have a tel number setup on skype for people to call you. You could save upwards on 300 euros doing this,

12. Avoid premade meals/Pizzas. They are expensive and unhealthy. You would be surprise what you can do with a KG of Rice/Pasta. Will last a week and a lot cheaper. As a Challenge to my self once I lived on 15 euros a week food. (obviously no alcohol) and it actually went fine. Got a pineapple in Tesco for 10cent they were knocking off because it was near sell by date and it was perfectly fine.

I could think of some more tips. I was in the same boat as you 10 years ago, no money and in debt. Today I am without debt and with some savings. (well I can afford 2 holidays a year for under 1000 euros)

Ainekav

I'm pretty broke most of the time, and sometimes it gets me down, but I try and remember that some day hopefully I'll be financially secure...!

Once you have figured out where you are spending unnecessarily or where you can cut back, try and do some stuff thats fun but also free.

Bottle of wine in with friends instead of heading out.
Same goes for dinner in with friends.
Great little place if you're in Dublin called Cafe Bliss that's BYOB and really cheap - so if people insist on going out to a meal, suggest this place!

5 euro wine in Lidl, cheaper other places
as other people said - aldi and lidl for food, much much cheaper. I live near a superquinn and someone recently told me about the 23 euro rule - you go into superquinn for milk and bread and a few other things and suddenly you've spent 23 euro.. avoid M&S and these places like the plague...

I avoid town and clothes shops altogether, its too tempting.
Do you have a car? Could you do without it?

Are you positive about changing jobs if you are already struggling?
Could you supplement your income in any way? Give grinds?
Do you smoke? You'll have to quit if you do, I'm afraid..

Annoying things like contact lenses cost the earth aswell - if you wear them, could you get away with glasses for a couple of months until you get back on your feet?

Buy toiletries in Lidl/aldi and (don't judge me!!) the 2 euro shop. I'm telling you now if you are buying brands that you absolutely don't need (eg. dove shower gel etc.) then ask yourself can you do with a 79c shower gel from tesco/lidl instead? Downgrade, Downgrade, Downgrade. I know people who buy the best of everything because they a) can afford it or b) are really stupid, and I just laugh away at them spending 3 euro on fancy hand soap/shower gel/15 euro washing detergent/washing up liquid. It's just daft..

As other people said aswell, the fiver u spend on coffee and a magazine wouldve bought you two or three dinners in pasta and pasta sauces. Not saying eat pasta 5 nights a week, but always have it there in the press for when you are low on cash.

ESB is a bitch, are you living on your own? Any chance of moving into a houseshare with lower rent to cut costs? ESB would also be halved?

There's my tips anyway, I've been 5 years at it at this stage. Ha ha ha.

Aine

Nolanger

For books/DVDs/magazines/newspapers visit your local public library.

LegacyUser

Hi guys,

Thanks so much for all the replies. Just to answer some questions about 50% of my wages is going on bills/rent before I even buy food/petrol. I never buy magazines, couldn't tell you the last time I bought one or expensive coffees. I shop only in Lidl/Aldi/Tescos. I haven't bought a new pair of glasses in 3 years andam straining my eyes because of it so i'm not wasting money on contacts. I am in a house share and I have changed to a cheaper electricity provider. Yes, I need my car. I don't really buy clothes anymore. I do enjoy a night out, but it's only maybe 1/2 nights a month.

Ainekav

Can you move into a cheaper house? Is your rent high? Can you ask your landlord to lower it, if they are sound?

I can't really help ya any more than I have because I don't know what your figures are etc and what bills you pay. Do you have any accountant friends of anyone thats good with budgets that could look at your finances and give you a hand?

I don't think this new job with a pay cut is the best idea to be honest.. I'd definitely think long and hard about that

triseke

OP, yes its hard, and really disheartening when you realise that you have absolutely no money once bills/rent is paid. But once you have gotten food out of the remainder, then frankly, you are doing ok. Friends can come to your house. Films/books etc can be gotten online/library.

Its just a shift in lifestyle.

LegacyUser

triseke wrote: »

OP, yes its hard, and really disheartening when you realise that you have absolutely no money once bills/rent is paid. But once you have gotten food out of the remainder, then frankly, you are doing ok. Friends can come to your house. Films/books etc can be gotten online/library.

Its just a shift in lifestyle.

Yes but I also have to pull 3grand out of the sky for college, i've to pay for dentist/optician/doctor and I can't afford to go.

Eve_Dublin

All of the above tips are great OP and I've nothing to add to them. Struggling myself and have been since living independently and living on very little has become the total norm for me....so much so that I wouldn't know what to do with the extra money if I had it. This won't last forever and once your loans finally get paid off, you'll have more cash for yourself. Just hang in there chick. We all have to ride this out.

Just to say, you're only 25 and learning lessons for life here. This will stand to you in the future and learning all this at such a young age. I live with a woman whose just turned 40 and has been supported by her family until her mid 30s (bought her an apartment and car to boot) and she's absolutely disasterous beyond belief with money. Had an argument with her boyfriend a few weeks ago and went to airport and a flight away and spent a grand in 3 days (she earns about 1300 a month...were in Spain..earnings are less) and now she's asking me to lend her money to pay her rent...this is how it's been since I moved in with her. I'm so grateful I had to struggle because I never get into a situation where I have to borrow money, even if that means sittting and staring at the four walls at the weekend.

Sit tight. You'll be grand and you're doing a great job. You should be really proud of yourself

LegacyUser

Eve_Dublin wrote: »

All of the above tips are great OP and I've nothing to add to them. Struggling myself and have been since living independently and living on very little has become the total norm for me....so much so that I wouldn't know what to do with the extra money if I had it. This won't last forever and once your loans finally get paid off, you'll have more cash for yourself. Just hang in there chick. We all have to ride this out.

Just to say, you're only 25 and learning lessons for life here. This will stand to you in the future and learning all this at such a young age. I live with a woman whose just turned 40 and has been supported by her family until her mid 30s (bought her an apartment and car to boot) and she's absolutely disasterous beyond belief with money. Had an argument with her boyfriend a few weeks ago and went to airport and a flight away and spent a grand in 3 days (she earns about 1300 a month...were in Spain..earnings are less) and now she's asking me to lend her money to pay her rent...this is how it's been since I moved in with her. I'm so grateful I had to struggle because I never get into a situation where I have to borrow money, even if that means sittting and staring at the four walls at the weekend.

Sit tight. You'll be grand and you're doing a great job. You should be really proud of yourself

Thanks Eve,

You're right, i'm just having a bad patch. I'm a lot luckier than a lot of people out there just fed up being strapped, not being able to go on a holiday, afford basic things. But, yeap I moved out when I was 18 and would rather be up to my eyes in it now than to be like that woman you live with. Thanks for the words of encouragement.

Stheno

Just fyi OP if you pay PRSI, then you may be entitled to an eye test on PRSI, i.e. foc so you can at least get your prescription checked, and if it needs changing you can try to save up for new glasses.

tenchi-fan

My current job pays lower than my last one. But I moved to a job and an area accessible by public transport and I started sharing a house so I could save some money. I used to live alone and run a car and never had any money. And I've had many, many DISASTROUS house-shares. Now I'm sharing with 2 people and it's actually working out.

Now only a quarter of my monthly salary goes on bills. Basically one weeks wages covers my phone, public transport monthly pass and accommodation (a room in a shared house - includes electricity, internet, bins)

I recommend you live within your means for a while until you have your bills under control and you save an emergency fund.

LegacyUser

tenchi-fan wrote: »

My current job pays lower than my last one. But I moved to a job and an area accessible by public transport and I started sharing a house so I could save some money. I used to live alone and run a car and never had any money. And I've had many, many DISASTROUS house-shares. Now I'm sharing with 2 people and it's actually working out.

Now only a quarter of my monthly salary goes on bills. Basically one weeks wages covers my phone, public transport monthly pass and accommodation (a room in a shared house - includes electricity, internet, bins)

I recommend you live within your means for a while until you have your bills under control and you save an emergency fund.

Bar becoming a recluse and living on bags of rice I don't know what you mean when you say live within my means. Like I said i'm struggling to pay for basic medical bills, glasses etc. I haven't been on holidays in 3 years. I'm hardly leading a lavish lifestyle.

Lucyx

I totally hear what you're saying OP. Now things like medical costs or glasses are like luxury items and I only pay for those when I'm in a very bad way and then I've had to use a credit card.

I used to get paid so much better than now and I'm back on money that I was earning ten years ago!! But like people have said here, we're all in the same boat and I think we just have to soldier on (I know this is so crappy to read) and try to get through this bad patch.

I've had to set up a serious budget to keep me on track. Its just an excel file but I have everything in there and it has made me cut back on unnecessary stuff like cable and I have the lowest package for my phone and buy the cheapest groceries.

The country is just in the sh1t now and there are so many people in this situation but we have to keep going and hope that things will get better. I've been doing interviews recently and the money some companies were offering is just unreal. I'd have to live in my car with the salaries they were talking about. I felt like punching a few of them in the face it was so offensive.

To be honest I've been down too about having no money but its good to know that there are so many out there in a similar situation. You have to be grateful for what you have. You have a job which is a great thing. Imagine how screwed you'd be if you were out of work. I'd love a few days in Connemara this year but I honestly don't think I can afford even that. Its just not possible but hopefully next year or the year after. I know its not very helpful but its just the way it is in the country now OP.

And honestly becoming a recluse isn't way off what I've to had to become. I probably go out about once a month and thats with a budget of €15.

dellas1979

Sobrokeandsad wrote: »

[/B]

Bar becoming a recluse and living on bags of rice I don't know what you mean when you say live within my means. Like I said i'm struggling to pay for basic medical bills, glasses etc. I haven't been on holidays in 3 years. I'm hardly leading a lavish lifestyle.

Well, give us an idea of what is your income and outgoings then.
If you get paid 2000K a month, you say 1/2 goes on rent/paying bills, Im trying to see where you put the other 1k.

tenchi-fan

Sobrokeandsad wrote: »

[/B]

Bar becoming a recluse and living on bags of rice I don't know what you mean when you say live within my means. Like I said i'm struggling to pay for basic medical bills, glasses etc. I haven't been on holidays in 3 years. I'm hardly leading a lavish lifestyle.

Well I told you how I went from spending half of my wages on rent and household bills to less than one quarter. Not my fault if you don't want to take some sound advice. Glasses don't have to be expensive either, less than €100. Cancel your internet for a couple of months to fund them.

username123

Sobrokeandsad wrote: »

[/B]

Bar becoming a recluse and living on bags of rice I don't know what you mean when you say live within my means. Like I said i'm struggling to pay for basic medical bills, glasses etc. I haven't been on holidays in 3 years. I'm hardly leading a lavish lifestyle.

OP - I appreciate that you are struggling and it seems insurmountable, but the only way you will get proper advice is to post an approximate of your incomings and outgoings so that other posters can see and make suggestions on where savings can be made.

No offence, but simply moaning about being broke is not going to fix the problem, if you want it addressed then you need to come up with the info that will allow people to help you. You may not want to implement suggestions given, you may not like criticism of your lifestyle and spending habits, but you certainly wont get anywhere without giving some indication of what you earn, what you spend and and what its spent on.

The thing is - you may get suggestions that you werent aware of or hadnt even thought of - its almost impossible to see your way out of something when youre in it - but from the outside looking in there may be some very useful simple suggestions that would help you a lot.

LegacyUser

username123 wrote: »

OP - I appreciate that you are struggling and it seems insurmountable, but the only way you will get proper advice is to post an approximate of your incomings and outgoings so that other posters can see and make suggestions on where savings can be made.

No offence, but simply moaning about being broke is not going to fix the problem, if you want it addressed then you need to come up with the info that will allow people to help you. You may not want to implement suggestions given, you may not like criticism of your lifestyle and spending habits, but you certainly wont get anywhere without giving some indication of what you earn, what you spend and and what its spent on.

The thing is - you may get suggestions that you werent aware of or hadnt even thought of - its almost impossible to see your way out of something when youre in it - but from the outside looking in there may be some very useful simple suggestions that would help you a lot.

I'm not moaning about it, I was simply asking how others deal with being broke, get on with it etc?

username123

Sobrokeandsad wrote: »

I'm not moaning about it, I was simply asking how others deal with being broke, get on with it etc?

They get on with it by listing incomings and outgoings and seeing where they can make savings to improve the situation.

Do you have some issue with listing an approximation of your incomings and outgoings? Its really the only way you will get proper advice.

LegacyUser

username123 wrote: »

They get on with it by listing incomings and outgoings and seeing where they can make savings to improve the situation.

Do you have some issue with listing an approximation of your incomings and outgoings? Its really the only way you will get proper advice.

I've done it before !!

Lucyx

Sobrokeandsad wrote: »

about 50% of my wages is going on bills/rent before I even buy food/petrol

so you have about 30-40% of your salary left after you've paid for all bills, food and petrol?? that's actually phenomenal. I'd kill for that. I have about 5% left after paying everything off so I think there is something seriously wrong with your budgeting OP. People have given fantastic advice here (I'm getting loads from it ) so that should make a big diff to you.

Unless you're having sushi and champagne for dinner every night theres seriously something very wrong with your spending

LegacyUser

Lucyx wrote: »

so you have about 30-40% of your salary left after you've paid for all bills, food and petrol?? that's actually phenomenal. I'd kill for that. I have about 5% left after paying everything off so I think there is something seriously wrong with your budgeting OP. People have given fantastic advice here (I'm getting loads from it ) so that should make a big diff to you.

Unless you're having sushi and champagne for dinner every night theres seriously something very wrong with your spending

Em no??? I have other expenses, i'm trying to save for college, esb, etc.

dellas1979

Are you looking for advice or are you looking to moan?

If its advice, post what your income/spend is etc (Ive a feeling though you dont have a clue what your outgoings are).

If not, keep moaning away there...

tenchi-fan

I've a friend who moans about money.. but when I ask him what he spends all his money on he says "alcohol, comic books and credit card"... what the f***? Why do people short on money always list "loans" and "credit card" as an expense? It;s like blaming your evil twin on lumbering you with expenses, rather than taking responsibility and saying "actually, I put a lot of clothes, meals and holidays on my credit card but I'll lump it under the generic heading of 'credit card' to disguise the fact I can't live within my means"

LegacyUser

tenchi-fan wrote: »

I've a friend who moans about money.. but when I ask him what he spends all his money on he says "alcohol, comic books and credit card"... what the f***? Why do people short on money always list "loans" and "credit card" as an expense? It;s like blaming your evil twin on lumbering you with expenses, rather than taking responsibility and saying "actually, I put a lot of clothes, meals and holidays on my credit card but I'll lump it under the generic heading of 'credit card' to disguise the fact I can't live within my means"

I don't see how you find that relevan to my thread, I don't even own a credit card.

dellas1979

Well what is relevant to your thread then?
I actually really fail to see the point of this thread as your wishy washy posts are not making any sense and its getting annoying. Like VERY annoying. If you even stopped posting, at least the thread would die off.

Backstreet Moyes

What about clothes i know a few girls. Basically on the same money one of them spends €100 on nike tracksuits every so often, while the other picks up a tracsuit end and top for going around in the evenings for around €25 in Penny's. Alot of people need the best of clothes etc just even were walking around in the evening and moan about no money. I went down to Penny's got on the sale rack a lovely jumper for €10 and 2 pair of jeans worth a fiver each. People saying they are nice where did i get them. While a friend buys similar jumpers for €25 or €30 and buy's dull looking jeans for €60 or €70 because they say Calvin Kleins on them. Experiment i tried McGraths gold blend tea bags in Aldi alot cheaper than big brands and nicer. Big bag of frozen chips in Aldi for 80 cent compared to McCains etc and they are the same. Dunnes curry sauce as nice as Uncle Ben's half the price. Big bottle of Vinegar 37 cent in Lidl, a bottle half the size but branded €1 etc. My friend is working and im on the dole yet he moans about money more than me. My main advice is cut down on branded products as you can cut your costs nearly in half by shopping around and being sensible. Not sure if you are a branded person but since i went on the dole i sacraficed brands so i could afford a few drinks on the weekend to keep my sanity.

globalwarrior

Alex thanks for the list - I have cut and pasted it onto my fridge

LegacyUser

dellas1979 wrote: »

Well what is relevant to your thread then?
I actually really fail to see the point of this thread as your wishy washy posts are not making any sense and its getting annoying. Like VERY annoying. If you even stopped posting, at least the thread would die off.

Well then stop posting, I was having a bad few days and wanted to know what other people with money problems do when it's getting to them, how they perk themselves up etc, why do you fail to understand that.

globalwarrior

OP - I think you are doing great whilst working your way through collage

- you are a real trooper, and one day you will be able to laugh back at this time in your life!!!


Ironically, you will probably see these days as some of the best days of your life.

Im not short of a dollar today, but fondly remember the old days going out with

- just enough money to buy a glass of cider

When you get your quals you will be able to say you done all off your own back!

Maple

This thread is going around in circles.

Locked.

Maple