Brought to you by the Every Dollar App. Start budgeting for free today. I'm trying to figure out is there ever a point where you're actually saving too much? No.
Well, I'm messing with you. I'm messing with you. That's fun. Okay, so why do you think you're saving too much?
Well, we have seven kids and it just seems like things are super, super tight and my husband's very anxious about money. Mm-hmm. Okay. Well, are the kids eating?
Yes. Okay. What is super tight? Well, it's just sometimes we dip down into the savings and then we dip back out and it's just...
In order to do what? In order to just do general living. What's general living? Like, see...
Well, insurance, groceries. So you're saving so much that you're not budgeting properly for groceries? No, no. We're budgeting for groceries.
I said properly. If you're budgeting properly, you would never dip into savings for groceries unless you were overspending on groceries. Yeah. It just...
We don't have any... It feels like we don't have any breeding room. Any margin in your budget. Yeah.
How much... How much do you guys make a year? I like that. 150,000.
Okay. Well, that's enough to feed seven kids. Yeah. Okay.
So you shouldn't have a problem. Where do you think the overspending is occurring? Well, we're doing like 10 and a half percent into the 401k, 3,500 and the HSA and then we're doing an additional $15K in the Roth. I honestly think that insurance and groceries is just eating our lunch lately.
Mm-hmm. How much are you spending on groceries? Meet every dollar budgeters, Christy and Steve. They used to fight about money.
I'm the sender. I'm definitely the savor. Now that they budget with every dollar, they're on the same page. Money is definitely one thing we do not ever fight about.
Having a budget gave me the permission to spend. Knowing that the money is in each category, it just allowed us to work together better. Now that's what we call a win-win. Now we just have to pick pain colors.
We can't help you with that. Every dollar. Create your free account today. How much are you spending on groceries?
Um, so it's... Okay, groceries plus what we pay to the school, I would say about $1,100 a month. Oh, are they in private? Paid to the school.
No, no, no, no. Just like it just costs us $100 every week for all five kids to use school. For lunch? Yeah, yes.
Okay. All right. And that would be, but that's not killing you on $100. So, okay, do you have a house debt?
No. You don't owe anything on your home? No, sir. You don't owe any other debt?
No. Okay. And we have a lot of things. We kind of did everything opposite of everyone.
We paid everything off first and then we had kids. And so we have a sizable retirement fund and it just feels very strange to still be in a situation where my husband's getting upset about money when we're supposed to be doing that well on paper. That makes sense. Yeah.
Are you guys funding? You're giving out dollar amounts for your savings. Yeah. Is that what percentage wise is that coming out?
She said 10 and a half plus 15,000 or 15 percent. Yeah. You know, 15,000 for the Roth plus the 3,500 for the agency a year. A year.
Yeah. That'd be right. Okay. That's $18,000 out of 150.
Yeah. That's not causing you. Well, you know what? You guys are not doing a detailed every dollar budget that the two of you sit down and agree to before the month begins.
You're throwing money in savings and hoping you can live with what's left over and when chaos hits, you dip back into the savings. Yeah. And usually by the next month, we're saving pretty much where it was before, but it's just my husband's very stressed. Yeah.
I heard that three times. You know why he's stressed because he doesn't have a plan. Not because of the money. So if you will start the month before the month begins, get the every dollar budget downloaded, it will give you the premium upgrade for free.
And the two of you, both of you sit down and go, okay, here's what insurance costs. That comes out of this. Here's what lights costs. Here's what water costs.
Here's what the school lunches cost. Here's what the grocery store costs. And then we save money. I think you're going to find you have enough to do all of it.
Because you guys are bringing home what's hitting your accounts in these every month? 9,000 ish? 10, 8,641. Something wrong.
What is coming out of that check? That's only $100,000. There's a little bit of saving for a trip that my daughter wanted to do. He, you know, I'll be coming out of his check.
No, no, no, afterwards. His check just insurance costs and then the 10 and a half percent per off and the 3000 per day to say that's my $13,000. We're 50 down. Yeah, that's why 120 after taxes.
So yeah, I mean, it should be around 10. No, I'm like 100,000 after taxes. Yeah. And so, yeah, there's something, you got something coming out of your check that's screwing up, too.
Are you guys getting a large tax refund? We do. And I throw that into the emergency fund or into the. Yeah, but that's not what we don't need a tax refund.
That's a savings account with the IRS that pays no interest. And they give it to you once a year. Santa Claus does not live in Washington DC. You know, do a gesture of W2s and get the proper amount coming home so that there's no tax refund.
That will help your cash flow. You're not bringing home enough. There's something wrong with your homecoming. Honestly, still like if we like took home the amount that we get in the tax refund every year, I feel like it would be pretty much spot on.
You have a feeling, but you don't know because you all don't live on a budget. You guys have got to do a written detail plan. You're chaotic and he's saving money on one side and you're over here trying to keep the family held together with duct tape and bail and wire on the other side because you don't have a freaking plan. You need a plan before the month begins.
Every dollar needs to be addressed. And I want to know why I make 150,000 and I'm only getting home with 100 because the numbers are giving me don't add up to that. So you guys got to get into this stuff and learn where your freaking money's going and make the proper amount come home and quit hoping that an IRS tax refund bales you out of your lack of organization and planning skills. So you have to manage this like it matters.
If you don't make these dollars behave, they are not going to behave and your husband is going to remain stressed out and you're going to remain feeling like, well, we should be able to do this, but it's all that savings and it's not all that savings. The savings is not the math problem. You've given us the numbers. It's not there.
So I know where the money's going. It's going to chaos and disorganization. That's where it's going. It'll give every dollar and assignment every month for the rest of your life, like your life depended on it.
And the two of you agree to it, you're going to have all of this angst removed from your position, the anxiety, your feeling and the anxiety he's feeling. But you're not going to get rid of it by tossing these numbers up in the air and trying to juggle them. You're throwing them around like your circus act and you've got to set them down and make them every one. Hey, I can hear it.
I've done this for 30 years. I can hear it in the process. You're just even discussing it with me. So you can do this.
You have the money to be okay. But this, and I've given you the antidote. Now the only question is whether you're going to do it or not. So go to every dollar.
Give you the every dollar. Help them download that Kelly and get it the premium version and we'll pay for it. Give it to her as a gift because you can do this. It's very doable.
It's very doable. And please don't ever say we can't be responsible because we have a large family. I think she did. She didn't.
She didn't. She didn't. But I get that all the time. I hear that.
Dave, you can't do the day of your dreams. You have a large family. And then we have people who eight kids stand up here and do a debt free screen. So they do it all the time.
As a matter of fact, it's the only way you can be responsible with a large family is to be responsible and work a plan. It's the only you don't have an option. It's like when you have seven kids, you don't have an option of one of them being a brat. They have to behave.
So large families, the kids, they don't have none of them are confused that they're the center of the world. But if you got one or two, one of them can get confused about that. So it goes with the territory. It's a wonderful part of having a large family.
But you have to be organized. You know the thing large families can do? They can take pictures quickly. They're a little single.
They're organized. They line up. They line up. They line up.
Little ducks. And then we take a picture real quick. Create your free every dollar budget today. The simplest way to budget for your life.