I make $100k a year and I'm still broke. Need some help.

[wndrwmn78]

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@Anonymous wrote:
Well, let's see.  I would say that I eat out fast food about 65% and 35% at sit down restaurants (Longhorn,  Red Lobster, etc.)  That is in addition to when I eat at home.   I just need some kind of system.

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Try to limit eating out to once a month, and take-out (like pizza or subs) to once or twice a month. For meals at home, the best thing to do is a good old-fashioned grocery trip every week. Make a meal plan for the week (stuff you will actually eat), and buy everything you need all at once, so that you can just go home from work and make dinner. I've learned that shopping for dinner every night is one of the WORST things you can do to your budget...you end up spending 2 or 3 times more than you need to. My DH is very bad about this.

As for the fast food...I myself am bad with getting it for lunch frequently (I at least get salads and wraps, but they're still expensive). If you think about it, even if you only spend $5 for fast food on weekdays, that's $100 a month. Try bringing your lunch to work (again, make sure it's stuff you really like, and not tiny frozen meals), and get a water bottle and some boxes of those Crystal Light to-go packets - they help me save a lot by not buying sodas all day long - plus now I've gone from drinking at least 4 sodas a day to drinking tons of water all day long!

Make sure you do baby steps...it's like dieting; if you try everything all at once, you'll get overwhelmed and quit. And applaud yourself every time you get another card paid off or another $100 in savings. 

[Anonymous]

In addition, if you don't know how to cook or are looking to replace the socialization aspect of eating out.. try to find a free local cooking class.  Others in the class may have tips to save money and you can get the enjoyment of others and new recipes/ skills in addition

Find what you enjoy and/or are comfortable cooking and make bigger portions and freeze them.  It may take some creative thinking, but you can achieve your goal.  

[Anonymous]

Some good points.   If I go to the grocery store on the weekend and buy $50 worth of food a lot of it goes to waste because - being single - it goes bad before I eat it.  I end up throwing a lot out. 

[Anonymous]

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@Anonymous wrote:
Some good points.   If I go to the grocery store on the weekend and buy $50 worth of food a lot of it goes to waste because - being single - it goes bad before I eat it.  I end up throwing a lot out. 

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Wrong.

And yet another example of the way you think and how it is killing you with money.

By your own admission you are spending over a hundred a week on groceries.

At the same time you are spending a hundred a week eating out.

There is no way you can both eat the food you have, and eat out that much without throwing food away.

• I live alone, and when i am tired and coming home from a long day I just want  to stop at a shop and get a sandwich, but tell myself No you have leftovers in the fridge.
• I buy 1/2 pound of lunch meat at a time so it wont go bad before I eat it.
• I eat sandwiches for dinner
• I make large family style meals and freeze leftovers to eat the folowing week or two later.
• I shop with the understanding that is I buy it I need to eat it and DO NOT BUY ITEMS based on the fact that I do not want to throw x amount away.
• I buy food based on my upcoming schedule so and adjust purchasing based on that.
• I would never buy lunchmeat the same Sunday I am making a potroast as unless I am freezing the left overs I will never eat the turkey before it goes bad if I eat the leftovers.

Message Edited by usmc58555 on 09-02-2009 10:59 AM

[pattycake]

I'm going to agree with USMC.  It takes adjustment of attitude to cut expenses and focus on paying off debt.  Debt will drown you, so it's good you've come here for some advice.

Definitely cut eating out to one day a week, and purchase and freeze frozen meals that have portions already fixed.  Eat decadent sandwiches with turkey, cranberry and fresh dark lettuce, serve with veggie chips, and voila!  A gourmet meal!  Search the Internet for creative dinner ideas, and take your lunch (homemade hummus and pita with veggies and fruit, prepacked Marie Callendar's or Wolfgang Puck pizza), much cheaper than forking over $12 for a meal and drink.  Don't stop at the convenience store for a soda to go, and plan your dinner menus each Sunday night.  

Do your own mani/pedis or get them done monthly at a local beauty school instead.  The cost there is easily less than half of what a salon charges.  

DISCIPLINE is the most important thing you will have to gain.  Lots of discipline and you will be able to chip away at that debt.   

[Anonymous]

I agree that your food budget is important to fix.  An alternative to cooking at home is to stop by a place like "Dinners to Go",  "Super Suppers" , "Supper Solution" or "DinnersaGoGo",  depending on your area.  You can make or have made a freezerful of portioned meals, and open 1 at a time.  Meals will cost about 3 bucks each. 

You can also check out Dave Ramsey - his website and books give a simple plan for getting out of debt, while creating an emergency fund, taking care of retirement and investing. 

If you listen to his archived radio shows on the web, you'll get some great inspiration to help you get your debt under control.  Regardless of how much you learned about money in the past, Dave can teach you quite a bit.   

[Anonymous]

So, OP.

its been a week.

You were "desperate."

Have you taken any of our advice and taken a good hard look at your money and seen any places for savings.

And more importantly- acted on it?