Does anyone here know about money and how to handle it?


I’m having real financial stress right now. I don’t have a job and am afraid of getting one. My parents are helping me out right now. I know I need to get a job in order to have money, but I have no experience with money and my parents aren’t very good with it either. It’s just another thing about being an adult I don’t understand. I don’t have a car. I have to walk or take the bus. And when I want to buy even something small like a dinner out or a t-shirt, I have to check my bank account because I have very little money. Does anyone know what to do about this? Thank you for your time.

asked June 28, 2014

6 Answers

The cash only system is my favorite for teaching someone ho to use their money wisely. Pull out everything you can and pay your bills with cash. Anything and everything that you can pay for in cash do so. BUT you have to make a budget and stick to it. Every month I spent X on transportation, Y on food, and Z on clothing. When the clothing budget is gone you can't steal from food or transportation. You have to not spend anymore money on clothing. You also need to set up cash savings systems. I put aside amount A for future housing expenses, B for future pet expenses, C for retirement funds, and D for a new car. Stick to the budget. If you want an expensive item you've got to save your cash from one month to the next to save up for it. You'll have to sacrifice here and there in order to pay for it. But, in the end seeing the actual green paper money go out of your hand is a lot more difficult than swiping a card. Obviously don't carry ALL of the cash with you at once and make specific shopping trips. We're going to get groceries and we're going to spend M dollars. Take a calculator with you if you have to and add your amounts and tax for the items.
I was the same way when I started working. money scares me a lot because my parents were not good with it. now my husband and I have saved about 80k and we are 33 years old and three kids.
we love the idea of saving three month's pay before spending any money on anything extra, this way if you lose your job you have a little cushion. it hurts to live real cheap for a few months to do this, but it would hurt you more if you didn't have this cushion if you lost a job, car breaks down, or get sick. this is an advice from suze orman.

just curious why are you afraid of getting a job? there is nothing really scary about it, but i totally understand because my mom raised me to think that i'll fail at everything. do your best and you will be fine. you'll get paid.
I'm afraid i won't be good at it, naura. I'm afraid people will think I'm weird or they'll make fun of me for doing a bad job.
To start with money management i suggest you do a list Income and spending list Income is self explanatory, for spendings list, if you have a fixed spendings that needs to be done (ex:rent, electricity, water, food etc) those are the kinds of spending that need to be fulfilled that goes at the top of the list, and the sum of it must ALWAYS be available in your account, below that would be other stuff that you wanna buy, basically this makes you prioritize your spending, with this method also you can know if you will be able to buy something or not (overbudget)
well, not gonna lie, people might think you are weird, people may make fun of you for doing a bad job but what makes a great worker is to be motivated to learn and become better. you can do it!! \(^^)/ cheering for ya here~
I use to be in your predicament, I thought that people would judge me and downgrade me on my work, but then I got a part time job at Maccas (Aussie for McDonalds) and I have been told by my boss that I am one of the best people working there. So go and look for a job, you will be fine if you enjoy it. And about your money problem, what I do is I put half of my pay in a tin and keep the rest to spend, and I don't touch the tin until the end of the year, then I know I will have money. Hope it helps.