As of right now, I have $160 for 2wks for all non-bill, non-debt. $60 of that is gas money, and $100 go for food and anything else I'd have to buy (including clothes, personal items, etc). I could try to wiggle out the $60 out of there, but $40 to spend in food for 2 weeks just doesn't sound right. I'm paying down debt, not being a miser!
All things remaining the same, that leaves my snowball money to be dealt with. It's $535 the first check, $130 the second check, for a total of $665 a month in snowball payments. I've made a point never to touch that money and continue to pay as agreed. My plan and move depend on it. But something has to give!
I could make a case to use my PT job's earnings to cover for the gas expense, but as I've said, this money is not year round, and not stable at all. Most times it happens, but some times it doesn't. It will definitely not happen when I'm on vacation and have to miss work! Then after October, I can pretty much kiss it goodbye until the spring. I can't even think about relying on something variable. That's how things start going wrong. Begrudgingly, I've agreed to the following terms: $20/2wk from my personal allowance (leaving me with $80), $40/2k from snowballs. Instead of $665 extra payments, I'll only be making $585. I'm disappointed on this, and I'll try to use most of my PT job's money to even this out for as much as I can, for as long as I can, but no guarantees. This can set me back as much as $1k/yr!
How do you accommodate new changes? I don't have utilities to cut back on (other than my phone... which is my ONLY utility and right now, only source of entertainment/communication), so my options are truly limited. Thank goodness the cut is in areas of excess, since I don't HAVE to pay extra on debt. It still upsets me, but I can live with it. Could be much, much worse.
I try to cut back on other areas, but sadly, when there is no more room for that I think the only alternatives are to either find a way to earn more money or sell something that will give you the money for the new expense.
ReplyDeleteI don't think I could find $50 worth of stuff on a monthly basis, haha.
DeleteSounds like you have a good plan for handling the changes in your costs.
ReplyDeleteDon't hold yourself to paying back so much on the debt but add in any $ when you have extra each month....that way you won't feel like you are failing at getting the debt beat down.
New changes here? Geez, costs seem to change for us constantly with 3 kids(1 almost off and 1 now easing off the family payroll). The car insurance goes down when kid #2 gets her own car and policy and moves out but then kid #3 has an accident and our rates will be going up in Aug. Price of food and fuel forever going up. It never ends, does it?
Luckily, we have excess we don't spend most months so if costs go up, we use part of that excess.
Other than trying to bring down the electric bill, eating less expensively, or cutting cable there isn't much I can do to cut costs. Once all the kids are gone our expenses will go down....I'm waiting for that day. lol
Ha, off payroll. Love it. I remember when we added my younger brother to the insurance... insurance for boys is so expensive! Especially under 25.
DeleteNot paying for your family's stuff would be a good place to cut expenses.
DeleteI wish I could give you any advice but I've been in the same boat this past month :( Why is your rent going up? Didn't you just move there?
ReplyDeleteOh, the move IS the increase. My current/previous rent was $450, but this new place is $500.
DeleteI would say, an emergency fund.
ReplyDeleteWhich is why I am trying very hard to get one myself. When you have that extra money, you're prepared for life's unexpected things.
Oh, I do keep my EF, but this isn't much of an emergency as much as a lack of oversight on my part. I'm glad I can choose to cut my snowball payments with no reprimand other than by myself, vs having to use my EF and savings.
Delete