Why Is This Budget Thing Not Working?

Jeff is with us to start off this hour in Dallas Texas I Jeff how are you fine Dave how are you thank you for taking my call sure what's up I have a question on budgets recently read your Total Money Makeover at a sister soon to me many years ago and finally picked up and read through it so we ended up getting baby stuff step one done and my question is when I do my budget I'm still going in the red which is driving me nuts mm-hmm now I did talk to my wife and she's on board with what you say because I've felt instead of listening to you before and I guess things are just sinking in you know I'm at the age that close to retirement but there's nothing there because of life happens so want to be out of debt and that's my goal is the tail what is your household income right now it's about a hundred thousand okay and um how much debt do you have not counting your home I probably have about ten or fifteen thousand part of that is from the Health Care Act that I got screwed over off so you don't home money are penalized yeah I don't I don't have a credit cards you don't I don't have any in the car payments car notes right okay so I'm a little confused how a hundred grand with no debt virtually is causing but I rather doubt what was wrong well you did a budget where did the money go I I see it as it goes to who you know groceries I pay the rent I do this I do that but I don't see where it's going but maybe a it's the budget baby so what is your take home page should be what $6,500 a month right yeah well it's probably close to about four or five a month no it's Nora file no it's not well I mean $100,000 and 300 a month you do not have $4,000 coming out of your check okay something's screwy yeah either your income figures wrong or are you taking out a 401 K yes I restarted funding my 401 K which is $100 a week so that's 400 a month that's $5,000 a year that's not a right here are you paying a bunch of costs out of something out of your check no well I I recently looking at redoing my health care so my health care was at 700 and I caught on your show yesterday and I got a guy from that chair to see about what we can do on that okay but I'm just not seeing where the money is and I guess it's just frustrated because number one we need to figure out where some of your money are you getting a huge tax refund no I've had to pay for the last three or four years with you know let me just stop a second and just do the math with nine here okay $100,000 a years eight thousand three hundred and thirty three dollars a month you talk about gross gross okay okay your taxes should be somewhere around 1,500 maybe $2,000 you should be taking home around six thousand five hundred dollars something like that and then if you take out and then if you take out you know $700 for health care and a hundred two hundred dollars a month or said four hundred oh you said 100 a week so $400 a month $1100 for your health care and your 401 K we're still not down in the four thousands so something's off at least a thousand maybe 1500 bucks with that figure you got to go find that to start with or you just told me your income wrong well I'm basing it from what I made last year yeah no and that's all that always salary every month do what is that salary every month no I'm not salary I'm hourly okay all right well just kind of back into that and you know what you need to do is go discover that that's the first thing you need to do and then let's put $5,000 at the top of the page and your rent is how much we recently got it redone and now it's 6:37 okay so 5,000 - 600 right mm-hmm I'm down to four thousand four hundred four thousand three hundred okay right and you're you know food I mean to people seven hundred bucks at 700 bucks right I'm down to three thousand and you got to pay lights and water right this is doing a battery you and I are doing a budget right now this is your income - every dollar has an assignment down the page III I'm missing thousands of dollars yeah and that's where I am - and I've searched online for you know different one that you have I did found a budget that somebody is from you they can't they did it it's an EOD test and I have a budget that I've we've done but it's just crazy I can't figure out where all this money is going okay well I mean you need to find it because it's going somewhere when you do a budget you should not be in the red on paper with the numbers you're giving me this is dramatically screwed up and so you know you need to start with your income at the top of the page and find out where every dollar is going and or tell every dollar where it should go maybe try the every dollar budget online maybe the app will help you you may want to get in touch with one of our coaches and sit down with them and walk you through it the budget forms are in the back of the book you've got the Total Money Makeover book the every dollar budget app for your iPhone or your Android is free you can jump on and use it try that but basically the concept is pretty simple and you know you need to find where this money is going something is two to three thousand dollars off in the numbers that you and I discussed every month which is like substantial okay your take-home pay is wrong something screwed up about that and then once you do get it home you you know you after you take out rent and food and lights and water you don't have a lot of other necessity expenses and you can you need to write down before the month begins where this money is going to go and tell it where to go and don't do anything with it other than that and when you do that your budget is you telling your money what to do before the month begins and once you put it on paper you're the boss of the budget until you get the budget done then the boat then the budgets the boss of you it's you telling you how this household is gonna run how we're gonna live this is what we're gonna do because the way we've been doing it for this last 60 years hasn't been working and it's time to change some stuff so every dollar has an assignment very very important and then stick to that this is the Dave Ramsey show hey guys thanks for watching if you enjoyed this video click the subscribe button to get the latest content and check out these other great clips from the show [Music] [Applause] [Music]

Channel: The Dave Ramsey Show

Views: 305,730

Rating: 4.8109541 out of 5

Keywords: Why Is This Budget Thing Not Working?, budget help, dave ramsey show, debt free scream, dave ramsey debt free scream, dave ramsey live stream, dave ramsey, having a hard time budgeting, trouble budgeting, dave ramsey live, budget, show, the dave ramsey show, ramsey, budgeting trouble, budgeting, debt, money

Id: hEm9KtWzYsQ

Length: 8min 9sec (489 seconds)

Published: Mon Oct 02 2017