How I Would Budget $3,600 a Month
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- čas přidán 1. 08. 2023
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I learned from a friend that if I am going to go out to eat, I can choose to drink only water and order an appetizer and still enjoy my friends at a much lower cost than ordering an entree and drinks. If I'm still hungry when I get home, I can make myself a sandwich later! Sometimes it is nice to go out and by compromising, you don't have to break the budget.
I highly agree 🎉 I did this with a friend before and got a small meal and drank water and I was super happy to enjoy their company nonetheless.
I am single and I will go once in a while out to eat. Water only and then I keep my meal under $10.00 to 12.00$. I don’t eat it all. I take home the leftovers and add something else with it and sometimes it will last me for 3 meal’s total. One at the restaurant and 2 at home. Especially Mexican food. 3xs
Love this! A water and appetizer is probably $15 bucks with tip, makes going out to eat with friends or family so much more affordable
Great idea!!
EXACTLY! I always order water only and get something I would NOT make at home (I'm an excellent cook/chef and can make virtually anything) OR something I cannot make at home AND that costs too much to make at home (like most seafood (minimum of $20/lb usually where I live when not on sale) or Chile Rileanos; did it ONCE, took 6 hours, decided never again). I limit myself to eating out ONCE a week and set a budget. I put it IN my budget because I truly ENJOY it and I do NOT buy ANYTHING else or do ANYTHING ELSE for myself. I only get my hair done once a year, do my own nails, skincare, body care, and most of my repairs. I swap items with friends if I need them or wait for them. So for me, eating out is part of my budget. I've tried to not do it at all but it doesn't work for my lifestyle, my disablity (sometimes I quite literally cannot cook as much as I love it or I'm stuck out all day and cannot drive all the way home to eat as it would cost me money in gas), or my happiness. Once a week eating out works for me, never in 4 months does not. But that's just me.
Ate in for the whole month and used the extra money saved to pay off my smallest credit card balance of $250 🎉woohoo 🎉
that's awesome! Congrats!
Congratulations! That’s great!
It makes a huge difference! I work from home since 2020 and saving $600-800/mo just by not commuting (parking and gas) and eating lunch out and daily starbucks 😳
Great job!
Awesome job!! Good for you 😁
I mean, the fact that this person needs THREE “side hustles” may be impressive, but it’s also unbelievably sad that’s what it takes to make ends meet.
I agree. Jobs should pay a living. They did in the 50s until about the 70s or 80s. Why can't we fix our economy back to where people earned a living on just a high school diploma?! That's how it used to work.
@SENSEF CEO's got greedy and shareholders got greedy. They take millions, or billions of dollars in salary, bonuses and dividends, and when workers ask for raises they say that the company cannot afford it, and then give themselves another raise. It's pure greed on behalf of the people in charge.
@@SENSEF Absolutely!
Just cut on the tithe and you wouldn’t need the side hustles. Only give when you can afford to do so…
Should have made the rent realistic to 2023 standards at 1300-1500 a month
I think the budget she went through came directly from somebody on that budget, so that's the rent she pays.
There are still places where the rent is lower. She said, it was an actual budget.
Wow I’d take 1300 a month. Here in north Atlanta it’s 2000-2400 a month rent.
My rent is 2375 and we have two kids not much we can do about rent costs. 860 is crazy
Last time i rented a few years ago i paid 700 a month for a small house in a not so nice area but i couldnt find anything larger that allowed pets that was around 1000 because i couldnt afford 1200 a month in rent so i applied for a mortage right before intrest rates went up i pay 1090 now with a intrest rate of 4%
Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
Thanks for the efforts you put in these. I found her and i leave her a message i await a response
bot thread!
I am very frugal. We cook at home and $300 for the month is no longer realistic with grocery prices in most places. If you already have a stocked pantry you could probably get by for a little while but eventually this would not be enough. Honestly, it is frustrating how much money goes to food cost now.
Maybe it is a household of just 2 adults but if it is a family no way.
Yes ! Oh my goodness. I am a sahm so I literally cook at home and we eat out (family of 3 plus baby) like once every few months but our $400 monthly budget is easily pushing towards the $500+ now and I’ve done soooo much to save pennies on the dollar not alot of junk or processed food. It’s definitely frustrating!
food prices are awful now in 2023. I think I paid about $1,700 for us being a family of 3. I will admit we try and get everything organic but that is still ridiculous. Yes we also do most of our shopping at costco. I will also admit I think I have a bigger appetite then the average person as well.
Well no not for a family. But this seems to be for 1 or 2 people as there is nothing budgetted for kids. $300 is quite a lot actually.
We’re a family of 6 and we budget $800
This is one person
Before hyperinflation and kids without frequent takeout or restaurants, my husband and I were doing $300 a month. We were not eating enough otherwise. Post inflation plus kids. Yeah. $300 is so not realistic.
Ok NOW we are getting some where. This budget is more in line with what more Americans experience.
The thing is.. in this video, it's a single person.. other higher number budgets are probably families of 3 /4 if not more
They must live in the middle of nowhere! Rent 850.00 I don’t think so, not reality!
@@CJ-rb7limake more money or go live somewhere rent is $850. They aren’t the most exciting places to live but they exist
Reading some of the comments and it’s impossible to please anyone. People want Rachel to have a budget video that fits THEM specifically. They need to submit THEIR budget, so she can give pointers.
@@candy2325 for real! How hard is it to adjust the numbers ?
I take home an average of 2600 a month. I just started using the cash envelope journey and started documenting my journey thru CZcams. It’s amazing to see how much you can save when u take control of your finances. ❤ it can be done.
Please try to do a budget for a single retired person living on a fixed income - national average for Social Security is $1800, plus maybe a pension and/or part-time work earning $500-$700. So total income would be around $2500 per month. Seniors need a budget too!
Ill be in that situation soon. Need a new budget!
This would be time for the smallest house, the smallest car, an older car,etc. Wow.
@@brg2743 AND nothing prevents Seniors with getting part-time jobs! I retired years ago from my full-time job, but I still work 20 hours a week and that makes a real difference for the extras. A word to the younger folks on here - PAY OFF YOUR HOUSE AS SOON AS POSSIBLE. I post this comment every night. My husband and I took out a 15 year loan on our starter house and never moved which meant we had it paid for before the kids were out of high school and could cash flow college and weddings. Now we are still in our "starter house" which is a perfect size for our downsized senior living and we realize just how little you can live on if your house is paid for!
I work with low-income seniors and unfortunately, that average is not the reality for many. I don’t know of any of my clients who have a SS check more than $1200 per month and many of them do not have additional incomes outside of it.
I would be applying the $350 donation to their church to their debt. I don’t believe the church would want someone struggling financially trying to improve their life to give money they can’t afford. They can start donating again when they’re financially stable again
❤
Tithing isn't about giving 10% no matter what. It's about giving what you feel comfortable with and slowly increasing it as you can. 10% is a good starting point if you're financially good, but I've given as little as 1% in the past because my budget was stretched so thin.
honestly that's like creating another bill that's just not needed atm.
I would be taking that out indefinitely. That money could go towards clearing debt/ wealth building. Basically working a side hustle to donate to church...
Read 'pagan Christianity'. God does NOT require 10% of your income be donated to pastoral staff salaries and building costs. The 10% that IS in the old testament was for food for the storehouse TO provide for God's people- the widows etc. This flat rate 10% thing institutional churches LOVE to teach because it's a guarantee of income. For good, from their intentions i'm sure...
So what DOES the new testament have to say about giving? It absolutely does NOT require 10%. It says to give joyfully WITHOUT compulsion. Now, there are often times situations where God is LEADING you to give- probably to a specific person- but you don't want to because it doesn't make sense. Maybe you DO have debt still etc. That is where the Holy Spirit truly will show up- do not be so good at math that you believe your understanding of numbers is fact. If God is leading you to something - He WILL make a way, He may bring extra income from something else or a refund or correction may come from something else, someone may send a gift etc. Truly trust GOD in your finances- YES! but to say that 10% of your income is required to be given to the 'local church' (which will be spent on clerical salaries, mortgage and electricity, toilet paper and coffee primarily- the people of God's family probably next. They have to keep the building open first- remember!)
but what about the true Body of Christ? It's not a building that has a mortgage. It's not an elder that requires a bonus every year. It's literally the family of God, shining the true light of Jesus and walking in His path, serving others and loving others in truth. Walking with the king. And THAT is why we do, 'home church'.
Even PAUL did not accept tithes and offering. He made his living alongside this as a tentmaker!
Here IS what the Bible says on the subject
Also- the book 'pagan Christianity' is a GOOD launching spot- but I do not agree with 100% of everything so let the Holy spirit TRULY lead you.
Sincerely - someone who attended ministry school at a mega church, seeing what really was taught behind the scenes, and I began a journey with the Lord on this.
This was exactly our budget for a few years, family of 5. It was tough. Rent took nearly half our income and that was not a luxurious home lol! Glad we're in a higher income bracket now!
Okay, I LOVE this! This is about my income per month as a single female, so this helps me know what to do! ❤
Same!!
@@janae09 me too!
Same!!
I am from the Netherlands, but this is similar to me. 😊But then in euro's. I will try to do the same.
Good video. I’ve mentioned it before, id love to see a budget for someone with special circumstances. For instance, someone with a medical condition that increases traditional expenses (food etc.) and prevents them from having a side hustle.
I noticed some things are not mentioned: maybe not important? Phone , car insurance, life insurance, car tabs, renter's insurance, b'day & Christmas gifts.
I had the same question about phone bill, internet, and car insurance.
I wonder if all that stuff comes out of their check automatically and this is their take home pay possibly?
Yes, I commented the same!
Internet (wifi) is listed under the convenience fee along with water and trash. Perhaps they have a cell phone provided by a family member or their work 🤷♀️ Same with car insurance. Not all city dwellers own a car, and some people have a company car they are also allowed to drive for personal use. Another comment pointed out the extremely cheap rent, so they may be living with family or roommates and sharing expenses. We don't have any details of their personal life, just the numbers they listed in the budget.
I think Ramsey would say "You can't afford gifts!" They would also be opposed to pets, I would think, until debts are paid off.
Can you do one on $2500 a month? Love your videos!❤️
Yep totally agree 3,000+ sounds like a very ok income depending on where people live....
Where is car insurance and health insurance?
Maybe they don't have health insurance, or their job pays for it entirely. The car insurance not being on there is a little weird though, unless they stopped driving the car for the meantime while they pay off their debts.
$350/ month gifting when you still have student loans? No I don't think so
I agree.. that part made no sense 😅 that’s a lot that can be used towards debt.
I agree. Would've cut that out before I stopped saving for the dental surgery, which could turn into a bigger more expensive problem if not taken care of. I understand wanting to help others, but you need to make sure your situation is straight before you can do that.
Agreed. Some religious denominations really push ten percent tithing. IDK…
Tithing may sound weird to you, but by belonging to church, this individual probably got their side hustles, or saw the Dave Ramsey seminar or share in weekly or monthly meals. The money is fellowship and making connections, not just giving it away.
Her gift needs to go to her debt and savings
Budgeting is so helpful in really understanding where your money is going! Great video, Rachel!
This is the budget amount I was waiting for 😅👏🏾💕
This is so helpful! It shows how much you guys care about helping people - you put out fresh, relatable content to demonstrate we can do it! Thank you
Thank you SOO much for doing a budget that is this amount! It definitely gives perspective. I make about half of that and this helps so much! Thanks again!
Thank you so much Rachel!
This was a fun video and I liked how you showed the entire budget this time.
Awesome thank you! Can you do one on a budget that brings in $2,500/ month please?
Yous have helped me tremendously! I cannot thank yous enough.
This is our take home pay for our growing family of five w similar student loans. Grocery inflation hurts so bad as I try and feed our growing kids healthily. Everydollar has been awesome for us, as we are very frugal but didn't have a habit of budgeting! Thanks for a great app! I am very grateful for my parent's example of sacrifice and being a grocery saving geniuses among many other amazing qualities. My constant material prayer is that nothing happens to our car which we own. 🙏
This is so relatable! What about a budget for a family of 4/5? Starting on baby step 2 with a verryyy normal debt list (i.e. credit cards student loans car loans even a loan on a couch? 😂) seeing you assign numbers to each line item was very helpful!
Credit card debt is absolutely killer and (Im saying this from a place of love I promise) it should NOT be considered normal! Do not spend more than you earn. Pay off that credit card debt as fast as possible because the interest is just theft!
I’d love to see more of these!
Love you and your Dad in all episodes, perfect team. You are a huge blessing to helping change people’s lives.
I love these! Could you do a budget for someone who is in baby steps 5-7. I struggle with knowing the right percentages for mortgage payoff and giving while also balancing some spending in there too!
Love these, would like to see a budget that has no debt
You can make a homemade version of telestration too! You can use notebooks or even stacks of paper. Everyone starts with writing a word you pass the notebook/ stack them flip the page and draw a picture. Pass the notebook/ stack flip the page and guess the object and write it down. So on. And so forth until you make it all the way around!!
I’m working hard to stick to $160 a week for food to get our grocery spending down. And it’s working! We’ve saved almost $2,000 the past two months from having extra money. We were spending $1,000-$1,200 on food a month. We are a family of four.
Feel like sharing some of your meal ideas, where you shop, etc? Do y’all do sandwiches sometimes? Any fast food days at all?
I can’t get it down past $200. I have me, my spouse, and 3 kids.
I would love to see the budget working with the actually given budget and not “assuming” they will get extra cash .
OMG 😂😁
Exaaaactly, lolol
What do you expect? It's Ramsey solutions, get another job, and if that doesn't do the trick, get yet another job. Too easy, lol. Work until there's nothing left of you and make sure you're not eating in restaurants.
@@Concatenate If working 24/7 was the answer why are there so many poor?
@@donaldlyons17 In Ramsey solutions, it's work more and spend less. That's always the answer to any question.
I enjoy these budget videos
Thank you ❤
Before the video about budgeting is started, an ad to purchase a board game is brought up. I love it. 😂
Can we do a low income budget WITH kids?.. Please? Of course a single person or couple can squeeze into a basement for $800 or less and both can work full time, but many families are without childcare and education, moms without employment history, etc. who are barely treading water trying to do baby steps 1 & 2 in this economy, esp with housing costs.
I didnt see cell phone bill, tv or internet, subscriptions, credit card or car insurance.
Videos like this is why I created my budgeting channel. I created my first video yesterday small intro I’m 23 in the military debt-free.
It's easier to sacrifice and live on a tight budget when you live alone. But when you have a family of 4 its a bit harder
Great idea for a video
Love this❤. Would love to see more of these on a regular basis. With different amount and types of budget.Thank you.
Our family loves Telestrations!
God Bless 🙏🏻😇
This sounds more like my income. I bring home $3400/mo
And I got out of $100,000 debt on this single income! ❤
I can understand where you are coming from Rachel, but I invite you to encourage people to put God first completely in their lives and trust Him (however they worship) to help their finances and other aspects too. I appreciate that you are encouraging that with the giving (or tithing) category. That's awesome! I've also seen other aspects of putting God first that have blessed our lives. Though some jobs have to be on the Sabbath, I've noticed a difference when we've set aside the Sabbath for God and worked hard the other days of the week, that our lives are better in many different areas. God promises that if we put Him first, He will bless us. We have found this true in our lives too, even during times of little income and hard situations or going through school, etc. Along with making wiser choices, sacrifices, and faith in Him, God has provided for our needs many times over the years, and I believe He is so willing to bless all who strive to put Him first in their lives, both in finances and other areas too, whatever religion or however they humbly worship. Thank you for how much good and hope you bring into the world! It's so needed! ❤️
Great video. Glad to see a video that is realistic and down to earth on a below average income. I saw she made another one for $12,000 a month but I never even clicked on it because Im not a fan of seeing videos that do not help us average people that make no where near 12k a month.
Everyone that calls the dave ramsey show makes 150k. Gets me a little upset. Where I live the most common salary is 2k a month. And yet people live with that.
Very few states where you can live off $2k/mon. US average mortgage is $1,600/mon
@@tymom9313 i live in the poorest ranked city in America. Yet ranked 16th safest city. Before covid with 200k you bought a mansion. My friend bough a Good house in a good neighboorhood with 70k
@dianabenavides2913 that is probably true, but so is my comment.
Average mortgage in my state is $2,100
I don't under why it's okay to push off a surgery expense to pay a student loan off a few months earlier? That's not responsible, get your medical care people.
I think she meant after the dental surgery was completed, that additional $800/month that was being saved for the surgery could then be put towards the student loan.
@@arbella89 she said that then she adjusted the budget without that in mind. Get your medical taken care of - prevention is less expensive. I am glad you didn't hear what she said.
Thank you! Saving up that much for a dental surgery means it is really important and should not be reassigned until after the surgery is done and paid off.
Can you do another for $2600 a month. Single income age 28 female
One bedroom private owned duplex. No garage street parking barely any storage..
1375 a month...
But... It's in. One of the best areas in Cali.
I happily pay it
Seattle area cost of living is crazy. Groceries is way more than this. I don’t even want to talk about the rent/mortgage here.. it’s insane.
For anyone confused about the church giving, it is there for the same reason as taking out a restaurant fund in a strict budget: you are sacrificing for a better future. Making that sacrifice to give money that could go toward debt is a selfless act that will benefit them when they reach eternity. At the end of the day, when you die, the debt doesn't come with you, but your actions on this earth will.
Cute outfit Rachel!!
I would disagree on one point, yes add more hours to side hustles if possible, but it's obvious by the fact that they're a tither, that they're a practicing Christian. Sabbath rest is not only important, but a command. Be faithful to God's word and He will bless your finances. Budgets and debt free living are very important, BUT it's not everything.
Amen! Such a beautiful important reminder. thank you
Excellent point!
Budgets and debt free living are actually everything, faithfulness is out of equation here😅, it's all about discipline.🥱
Totally agree 🙌🏻
Jesus is now our rest. We are commanded to assemble, but Jesus actually rebukes the Pharisees in Matthew 12 regarding their inflated views on what the sabbath is. This doesn’t discount the fact that we should have time to meditate on God’s word, pray, and fellowship, because this should be the desire of a believer, but it does speak to the fact that we now have “sabbath” rest in Christ EVERY day because of His work on the cross alone.
This is so much more realistic! Will you do more around this range? My husband and I maie around the same and I DM'ed you our budget on Instagram. I would love to see you work through it!
*make whoops haha
One of the issues with kids is that if your house is the one where other kids hang out, the cost of snacks can really be prohibitive. I just left my daughter's house in another state where I was helping my son-in-law with the grandkids (9 and 13) while she was away for the week on a business trip. Their house is the "hang out" house and when the neighbor kids come in, it's like the locusts have arrived! They eat everything in sight!
Chickpeas are my go to for that. Very cheap, but filling and easy to bake with different seasonings
Popcorn! That’s cheap
Awesome
Nice 🎉
11 years married, family of 3 home owners... on baby steps 4, 5 & 6 on this $3,500ish per month income. We own both cars, replacing several others with cash over the last 10 years. We paid off our (well, my) student loans, and have twice (once before our daughter was born, and currently) had/have an emergency fund balance exceeding 20k in the last 8 years. Folks... it CAN BE DONE!
How about not playing the church-tithe until you’re debt free? Or heavily knocking down your contributions to the church until you’re debt free? Plus everything Rachel said. I’m surprised that wasn’t an option in this video.
She probably didn't touch that subject due to some people's religious beliefs that one HAS to pay ten percent. At that point it's not a budget argument but a religious argument.
Love these budget review videos!
Yeah, working 7 days a week, sure. How long, a month, two months till mental breakdown?
Yep!!! Not healthy or sustainable even during a short interim at all!
Nope.
My mom did it for 14 years.
She had to sell her practice and was out of work for 10 years.
I had a heart attack at 25 and was on disability for 6 months.
We’re no different than machines.
We’ll all break down eventually if we don’t take care of ourselves.
Yea I agree. I did a 7 day week before and it definitely catches up to you 😫 all I wanted to do was catch up on sleep/rest.
My husband works 7 days a week. One day is partial day. Occasionally he’ll take half Saturday off as well
My husband worked 7 days a week during tax season and a bit beyond. He owned a pension administration business (had one partner) and I watched how it affected his health. I was able to pick up the slack plus treat him with acupuncture but it is no way to live. We were lucky as we had little debt and paid it all off so he could retire a bit earlier than planned . He could have continued working and we would have more investments but we are fine. Besides, just how much money does one need after a certain point?
One thing I disagree with is working on Sunday. Sunday is the day of rest for Christians. Even if I was in debt I would not sacrifice my Sundays.
I wish I could spend less on groceries but healthy foods are Expensive!!!! More if you are gluten and dairy free 🤷♀️ I usually cook all my meals but let’s face it, with this inflation, food prices are at an all time high. I have reduced my “fun” shopping but I don’t want to compromise on healthy eating.
Love these!! Can I send mine in?
Love this cause its almost like my monthly income budget. I only have my 1 small credit card left then my car ( I know I should sell it but wont get enough to pay it off and buy a junker) One place Im lost if the money towards my savings using this budget program. I put I want to save 100 extra a month and it confuses me cause it shows like the balance already has the 100 in it at start of the month. Can you please tell me where I can find out how to understand the saving or sinking funds options of this budget?
Can you guys to a SO CAL episode? hearing about rent under $2500 is insane and not realistic here.
Lol, the entire episode would be one word. MOVE.
lol! Right @@Concatenate
Can you do more videos like this but with different incomes? High, low, medium?
This is WAY more realistic BUT rent, car (including payment/insurance--required by law) and groceries ALONE take up 50 to 70% of an average person's budget in 2024. That's just how it goes. Period. And I'm sorry, but no one, NO ONE should have to work 3 to 5 jobs (including side hustles) to make ends meet. It can lead to sickness (which you can't get out of debt if you end up in the ER because you've worked 24/7). Also, I'd say double the emergency fund to $2,000 because of inflation as well as the cost of things has gone up exponentially. Also, don't tell me you don't need a car because in most cities you do; public transpiration can be dangerous and in some cities/rural areas it's virtually non-existent. I'd LOVE to see this realistic budget and budgets for DISABLED people who LEGITIMATELY cannot work ONE full time job let alone 2 or 3. Budgeting is FANTASTIC and I do it happily and gladly and yes SACRIFICES can and should be made, but the bottom line is, you HAVE to BRING IN MORE than you PAY OUT. Period. And not everyone can bring in more. It isn't laziness. It's a fact for many of us in bodies (or minds) who don't cooperate and don't care what money/budgets can and can't do.
Could the clothing rental be something that is required for a job?
That’s what I wondered.
Daddy brought me into a 10k/ month budget, plus family perks
Rent for $820? In my area that would be a 400 sq foot studio, maybe. And be in section 8 housing.
I used to write checks every week to the EF or investments but now I will put an entire paycheck once or twice a month.
Now I need this same budget worked but with 5 kids 😁 Our groceries are between 800 and 1k a month. 😢
Is every dollar app available outside USA
Omg watching Rachel budget is amazing!
This is crazy! My mortgage alone is 4k /month and student loan payment is 2k /month!
Great Video. I understand this Budget Video. But for People who are just starting out you should have more elementary videos in which you speak slower, thoroughly explain your math, and have simpler budgets with thorough explanations. Thank You.
Honor the Sabbath and keep it Holy. 🙏🏻😇
Do more hermeneutics before prescribing added requirements onto His gift of salvation
@@RachelDeeHis gift of salvation is evident. We cannot obtain it through obedience. But let’s also remember our obedience is a sign of our salvation. Jesus himself said “ if you love me you will keep my commands “
Jesus himself set up the church . We are called to gather.
This is helpful content!!!
Excellent, excellent, excellent, thank you so much!
I don't see any kind of insurance for car or health? Those are big expenses for me. Are we assuming parents are paying that or what?
I was wondering the same thing. Our family health insurance costs more than our mortgage and car insurance adds up too
Can you nyc like outer boroughs not Manhattan? With these same budget, aftet spending 2000 on rent?
What about paying down taxes as a self-employed professional and personal debt?
I wish I had a $40 electric bill. Ours is almost $500 on budget plan in ny 😢
Wow I wish my rent was 850$!!😅😅😅😅 More like 1850$?
Who’s electric bill is $40?
Could you please plant a budget of 2400 to 2600 net? 😊
Where they living that they can afford $300 a month on groceries??? I need to move there lol
And $40 electric? Mine was $438 last month in Central Texas, lowest was $120, small house, well insulated.
Exactly, doesn't seem realistic to me
We are feeding a family of 6 on about $400-$550 a month and this doesn't take out snack foods either. If this is a person without children $300 seems either high or fine to me.
They must eat rice and beans
We spent $500/month for 6 people on food. We buy markdowns and good sale items.
Again with the 'PIE IN T😊HE SKY
COOL 😎
So this was me many years ago after college but much worse... similar income but $1000 a month in side hustle and the debt was $80k. I could guesstimate this person's situation probably could get cleared in maybe 4 years... me having even more debt and already working 80 hrs/wk just knew if my journey was going to be even a few years over that... scorched earth is not sustainable. Just isn't. So it took me closer to 15 yrs with multiple burn out phases of over working.... but i don't regret having a $25/wk budget for entertainment. It just isn't sustainable to be scorched earth at 80 hrs a week for many years in a row without a breakdown.
I highly agree. I set aside a small percentage for fun money because it’s absolutely miserable to commit to “scorched earth” for years at a time. It’s weird because Rachel literally had a video a few days ago on how to budget some “fun” in the budget 😂 so it’s funny in this video this person can’t have a balance.
So, let me understand this. We are going to cut our $100 dining out, tell them to work harder, but keep giving money to the church. I would say the churches already have enough. I’m not saying eating out is right when in debt, but giving 350 for the church when they are barely making it is insane!
$800 in rent? You can’t rent a studio in a safe neighborhood where I live for less than $1600. And my husband works from home 50% of the time. Which means a 2 bedroom for 2k or more….. I’d love to submit our finances and get advice.
Yeah those Ramsey people don't seem to know current prices and current median incomes...
Maybe the person splits rent with other people. Even after my parents were married they had to house share. Granted it was the 70s and inflation was even worse.
@@joannawhite1441 well at one point the legal minimum could cover almost all basic cost in almost 1/2 the states too. So no inflation being bad does not mean people can't make just enough to cover their basic expenses.
I dont believe in donating 10% to 15% of ur income when u have debt. 5% top depending of the income/debt ratio. Then later when most of debt is gone, than bump that up, but retirement accounts most come first before donating.
@RachelCruze Please do this budget but for a family of 4 or 5. We are debt free and on baby step 4 but we are ministers and do not have a 7K or 10K monthly income. More like 4-5K a month
There are 2 loans of $10,000. One payment is $50 a month and the other is $100 per month. I would pay the one that is $100 first since you get more back once it is paid off.
Being in debt but giving 350$ to church is crazy.
Wow...How on earth do you get utilities and wifi for a combined total of $75 a month??
If I could have a fresh start with my credit I would do things so much differently. I am hanging on by a thread due to lack of knowledge in credit / loans.