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Old 02-17-2018, 10:34 PM   #151
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Re: New Year’s Budget/Debt Free/Financial Goals Chat

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Would that be any different than if something came up when he was getting paid weekly?


Well it would be a little different. If it was something big, like the truck breaking down, we would have to use the emergency fund. But if it was something smaller, we could more than likely wait til payday and I would rearrange things in that paycheck.

But if payday wasn't coming until next month, the fund would be hit hard.

And right now, our fund is down to very little. So that is not good.

The new employer offered to split the first month's paycheck for us. But I don't want to do that. We will make every effort to be prepared when the switch happens.

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Old 02-17-2018, 10:37 PM   #152
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Re: New Year’s Budget/Debt Free/Financial Goals Chat

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It is an adjustment, especially if you have to wait a month on the first paycheck. You have to scrape bottom all month, as opposed to all week or 2 weeks. It seems like when we "budget" we think in terms of month, but most people get paid more often than that and therefore actually budget on a weekly or biweekly basis.

Recently we switched from using credit cards to using cash/debit card as much as possible, and for a month or two it's a similar situation. We always pay off all of our credit cards, so it should be the same thing as paying up front, but in reality we spend all month paying last months bills PLUS this months. When you switch jobs AND pay cycles it's the same - you have money in your budget for 2 weeks as always but you actually need to go a month the first time, and in some cases almost 2 months.


Yep. It would be at the END of the first month. So I'm hoping really hard that he does get paid for the leave he has accrued and not taken in his current job. That would be more than one paycheck's worth and we would be set until he actually got paid from the new job.
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Old 02-17-2018, 10:39 PM   #153
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Re: New Year’s Budget/Debt Free/Financial Goals Chat

By the way....

Jen- I tracked my grocery purchases for February.

I am at $560 now. We may or may need another loaf of bread or milk or something of that nature before March hits. So I'm allowing an extra $40.

So I was off on my budget by $100 this month. (I budgeted $500 but have spent $560 + perhaps another $40. And perhaps not. We are well stocked now.)
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Old 02-18-2018, 05:57 AM   #154
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Re: New Year’s Budget/Debt Free/Financial Goals Chat

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Love this!

We managed to pay off all four of our credit cards last year (a little embarrassing that we even had that many with so much money on them) and closed most of them and now this year our goals are to hit the $15,000 mark in our savings (trying to buy a bigger house) and pay off our car loan. We had a little set back at the end of last year when our second car broke down but we were lucky to find a nice little used Subaru for a good price that we could pay cash for, now we just need to replenish our savings. After writing our budget we are hoping to hit both those goals by May or June!! After that we will have to sit back and re-budget with an extra payment gone and hopefully work on school loans which will be our last bit of debt, until we buy the new house of course. Hopefully we can get our finances in a better place before so it will be easier to pay a larger mortgage.

Right now I think one of the things that has helped the most is meal planning, it really helps with grocery shopping every week!!
Welcome to the thread! I agree, meal planning is a huge help. I have a four-week rotating dinner plan with standardized shopping lists that helps us avoid last minute decisions to eat out and has really helped us stick to our food budget.
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Old 02-18-2018, 06:08 AM   #155
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Re: New Year’s Budget/Debt Free/Financial Goals Chat

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How's the budget? What entices you to stray off budget if anything?
I've been thinking about this question. At one time it was clothing, but as my tendencies have become more minimalist, I'm finding it easy to cut down on clothing purchases.

Eating out was a weak point but getting organized about meal planning has helped with that.

So I'd say travel is the big weak point for us currently. That was what ran up the cc bill we are currently paying off. Our extended families are scattered around the country and we want to see them, but our work schedules don't allow the time off it would take to drive. Once we are done paying off this debt, the plan is to work on building up some savings for that purpose.
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