Since we started tracking our progress, we've paid off $17,463.92. We could have been finished by now but we have enjoyed life a little. We also had a wedding and a baby is always expensive! I do have a bit of a scrapbook obsession but he counters that with mountable flashlights and lasers. I suppose we aren't very good gazelles but we are committed to staying out of debt.
Week two of FPU Online. This comes at a good time because I may be living off the Baby Emergency Fund for the next week. Hopefully, Ronnie will be able to deposit his pay in Vegas and I won't have to worry about it at all. I'm not holding my breath though. At least we have it so I'm not panicked.
The problem with an hourly job is that things can vary drastically from week to week. One week he has so much work, we don't see him at all. The next week he could be home every evening and on the weekend. I learned the hard way about preparing for weeks when he has no work. This doesn't happen often but I plan for it one week a month in case it does happen.
With his hours at one job varying so much, I had to create both a monthly plan and a weekly budget. It sounds like a lot of work but think about it. You know you are going to pay your cable bill every month around the 3rd. Your electric bill is always due on the 28th or 29th. I promise it's not difficult and it's amazing what you can do when your finances aren't such a big secret to you and your spouse.
Hourly jobs don't have to be budget killers. The key is to know how to adjust your budget and to actually do it!
I'm writing instructions on the steps to create my version of a simple budget. I will post those soon. Go round up your current bills for the month.
Lesson 2 Journal
The last major financial decision we made was a little over a month ago. On Veteran's Day we purchased a new washer and dryer since our washer flooded the kitchen. The dryer was giving up on us too. We were lucky because the Veteran's Day sale turned out to be one of the best deals we have seen. It came right when we had a little bit of money too. Ronnie won a little bit in Vegas a couple days before so it kept us from hitting up the emergency fund. We were also able to get the set we wanted since we had the extra money. We have saved so much time and energy already that we both agree it was well worth the investment. We would have loved to have used the money elsewhere but it was such a nice feeling to walk in and pay cash.
If we had $10,000 sitting in the bank just for emergencies our life would definitely be different. Even with the baby emergency fund, it can be stressful to worry what next week will bring. Two rough weeks can really tear through a $1000 baby fund. I cannot wait until the point where we are comfortable with our finances and in a position to help others that truly need it.
I think the idea of never borrowing money again is a little extreme. It was tough to get to the point where we didn't need the credit cards. BUT, we have learned the hard way that nothing good comes of them. You can argue this point but you haven't done everything correctly and still been screwed by the credit card companies. I prefer to control my own finances. I don't need a credit card company to tell me whether I'm worthy to pay them to let me borrow a few bucks. I'd rather save for my purchase and not have buyer's remorse at the end of the day.
No comments:
Post a Comment