How to do my husband and I stop spending money on stupid stuff and start putting money in the bank?

Our income is not very significant, but we should have some money in the bank. We are living paycheck to paycheck and seem to waste money on going out to eat, etc. We also have two teen daughters that are draining us. We have no money in the bank and have tried for years to change our spending issues. How do we start saving and stop these bad spending habits??

How to do my husband and I stop spending money on stupid stuff and start putting money in the bank?
Everyone has to be part of the solution - kids included.


Post your budget on the fridge to remind everyone they have a stake in this. Pain that it is, writing down EVERYTHING for a couple of months will cure the problem.





First, add up all your income per pay period - month, week, biweekly, whatever.





Then add up all your "fixed" expenses to match the pay period (multiply rent x 12 then divide by 52 to get weekly, etc.)(estimate using highest electricity bill, telephone bill, etc.) and ADD A NEW ITEM CALLED "BANK" THAT IS 10% OF YOUR INCOME.





Subtract the expenses from your income. Now you know what you have to spend on groceries, gas, clothes, etc. etc.





When your paycheck comes in, put it directly into your bank, and put 10% directly into your savings account - this matches your budget. Some banks will automatically do this for you if you ask them to.





Whenever anyone spends anything, have them subtract it from the remaining money and WRITE DOWN WHAT IT IS FOR. Everyone can see where the $$ are going, and you'll see exactly what is happening and so will everyone else. Having the whole family seeing and supporting a reasonable budget is the best way to go - and a great lesson for your children.
Reply:Just try your best to stop spending on what isn't important in life. Of course everyone needs the basic necessities of life like food, clothes, shelter. But, can you really afford going out to eat? Eating out is expensive. Only eat out if you HAVE to. What I mean is it a special occasion for going out and eat like someone's birthday? If it isn't then why are you going out? Also, if your teen daughters are draining you out, tell them that you DON'T have any money in the bank. Teenagers love to spend, so if they really HAVE to have a particular item just to be part of the crowd, tell them to get a job (if they are old enough).
Reply:1. Stop going to eat. Learn to cook and don't go out to eat.


2. Set a goal of saving XX dollars per week


3. Put your teen daughters on a budget and show them how to use ebay. You want some sell several things on ebay and then buy the new thing you want on ebay.


4. Grow up. Stop being so juvenile that you have to have the latest and greatest piece of crap.





If you know something is a problem change it.
Reply:Save by paying yourself first. Set up a pre-auth debit to a savings account with a diff bank, and lock your debit card to that savings acct in your safety deposit box. If you believe that you can save the money, when you don't have access to it, you'll find that you won't even miss it! Good luck!
Reply:get a savings account and lock your money for periods of time
Reply:Make a list separately of what you all want, enjoy, need - yes mom, dad and daughters pay no attention to order or anything else.


Then get together and compare, here you can eliminate or even add to a single list you agree on. Then place them in order of importance, please no arguing - if it is important to you (or him, or them) then it is - no matter what you (or he/they) think. Now we have a list, next place a time next to them. House - 3 years, vacation - 1 year etc. Then put dollar amounts next to them - house deposit needed $10,000 divide that by 36 (3yearsx12) you now have a monthly value. Once you have done this you will see that you have monthly values for the things you are trying to do. Then add up everything and get a monthly total. You'll either have enough to do it all or not enough to do it all. Then sit down again and work out what you can eliminate or reduce - eating out once every two months is cheaper than eating out every week. House deposit in 4 years instead of three etc - Once you can see what you can achieve, and you are all on board, then it is easy to do. This may take a few talks, so get coffee/milk and cookies and sit in a nice and comfortable room.





Your teen daughters will have their own goals, and if you can show them that by saving money, together as a family, then you can all get a better return. This will be by being able to afford whatever it is each of you have as a need. Try your best to differentiate between need and want. For example: We want a Ferrari, but we only need a Geo. The money saved here, can be used for a better roof for our house, help pay for college, get new bed for daughters, etc., etc.





Good Luck!
Reply:Make a spending plan. Spend your money On Purpose. Don't leave a vacuum, because your impulses will fill the void with wasteful expenses. Learn your own spending habits. Wasteful spending is like a schoolyard Bully, and must be confronted with a plan so your money has purpose, rather than wings.
Reply:Self disipline is the only way. Make a budget and stick to it no matter what.
Reply:when you get paid work out how much you need for groceries and bills with a little extra for unexpected expenses and a few treats





put the rest you don't want to spend in a savings account that you can't have easy access to (so no debit cards or checks)





it will still be there if you absolutely need it, you just wont be as tempted to spend your savings on things you dont need





you can also try paying the teenages an alowance for going out and buying their own clothes etc if they're reponsible enough, that way they have to save up the cash instead of coming to you every time they want something and they might learn to handle their money better
Reply:YOU NEED TO MAKE A BUDGET, AND SET SOME GOALS.


I RAISED 3 GIRLS TOO, TELL YOUR HUSBAND GOD


BLESS AND GOOD LUCK, HE'S GONNA' NEED IT
Reply:alright. first, to resolve the problem with your daughters, simply tell them no when they ask for something unreasonable. are they 16 or over? if they want money so bad then they should work for it (my mom's doing the same for me after i got my car. now i have to pay for insurance and gas).





second, you need to start using will power to cease the unnecessary spending. before you spend money, ask yourself "will we have enough money to pay our bills if we buy this?" or something like "what if we'll need this money if an emergency arises?"





my third and final suggestion would be to put a certain amount of money from your paycheck in the bank every time you get paid. this way, you will have money when you need it. when the end of the year comes and you dont need it, you can spend some of it on christmas presents or something.