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I'm not going to make it

April 25th, 2016 at 03:52 pm

Big Bummer. While I slashed by credit card balance by 80% I'm not going to be able to pay it off in full like I wanted with this upcoming paycheck. I have to put the check toward my quarterly tax bill instead.

I think it's going to be okay but I also think I might have to skip going home to visit my family this year and maybe even a trip I had planned to go to a cousin's wedding unless I get a good deal on the flight or get a raise or something.

It's a real bummer but the thing is unless something changes I know I can't afford it. I didn't think I'd get hit with all these house expenses right off the bat. And the dental work last year whipped out my savings that I'd had for potential house expenses.

It's just putting out fire after fire since about October of last year. I'm tired and I'm broke. So broke that for the first time in years I had to put charges on the credit card for monthly bills not knowing when I'll be able to pay them. Juggling juggling. I'm one disaster away from breaking my back.

I'm hoping that in the coming month having some structure again will really let me know what I'm working with here.

I couldn't get to the bank last week to get the few bucks I have left over for grocery spending money after taking out bills, taxes, gas money and some savings. I started using the grocery card for the 3% cash back and then found myself using it too much. I bought that kitchen stuff, some groceries, household items and charged an insurance bill but then I spent an extra $50 dollars on coffee and snacks.) So that's gone too before $50 turns into $500. I hid it in the house. Don't want to shred it though since I have no emergency fund right now and I'd need something in case of emergency type deal.

While I'm still putting chunks of money toward my cc bill, I am also putting a small amount of money toward my emergency fund each week and when things stabilize it'll go up. I'd like to ideally make it go up a few bucks every month but we'll see how much money I have left over.

Things are going to be tight for a while but at least my expenses are finally somewhat fixed.

I know what the bills are going to be each month and I know I won't have a rent increase now that we have a mortgage. I just need to not get discouraged.

I've been here before and made it, I'll make it by again. I've already started planning meals so we can control food costs and eat much healthier. And that at least is a start.

8 Responses to “I'm not going to make it”

  1. CB in the City Says:

    Getting your credit card down to 20% of what it was is still a big achievement. Don't lose heart. I've been there myself, and I know you can do it.

  2. creditcardfree Says:

    You have made good progress. And those are hard choices not to see family, but you will enjoy a trip in the future with less or no debt! Didn't you cut up your credit card? Just asking because you said you charged groceries. Cut it up if you still have it.

  3. Frugalista Says:

    I know it's easier said than done but don't get discouraged. You've made progress and this storm shall pass eventually. Keep putting some money in you EF, even if it $5, little by little your emergency fund will increase. ((HUGS))

  4. snafu Says:

    I too encourage you to look at progress and give yourself positive statements going forward. Is there any line item that can be reduced? Is there any possibility of part time work, short term? Do you have a room you could rent to a summer school student, relinquishing some privacy for whatever the going rate in your community? Do you have items no longer used or needed that can be sold? It would be wonderful to squeeze small amounts from a variety of sources to rebuild the EF.

    I suggest you list your week's menu plan here for both motivation and accountability. It's easy peasy to list your five favorite meals, likewise, DH's, plus five [or more] that can be created from items at hand. I base meals on our weekly schedule as some days are hectic and need quick and easy, some days need take-away like wraps that can be eaten in the car or picnic style. It can get tedious so it helps to make some larger batches to be frozen or planned over. For example, terrific to make something special for a leisurely Sunday to adjust with roasted or grilled root veggies Tuesday. It's cost efficient to buy loss leaders from grocery ads; most stores will meet competitor price with ad evidence.

    My favorite accountability action plan is to give every dollar a job. I make myself note and name every dollar spent using a phone app but small note book is efficient.

  5. ceejay74 Says:

    I too have been hit by expense after crazy expense since December of last year. I comfort myself with the fact that I'm able to figure out how to pay for it all. I do hope things settle down the second half of the year!

  6. LivingAlmostLarge Says:

    Good luck. Keep moving forward. Better that you paid off 80% then 0%. Imagine if you still had 100% of credit card debt

  7. Permanent Temp Says:

    creditcardfree - That card I'm not shredding that card because it is the only one I would be okay using for another emergency. So I've hid it in the house. I pulled out my cash from the bank yesterday so I'm back on that system. It sucks to know I live on such little cash each week but its nice to know that I am staying within what I can actually afford right now.

    snafu - I already tried to pair down expenses. I looked at cell phone service, car insurance etc. We are already paying the lowest from what we are using. We don't have cable or anything of the like. I cut off a few extras, a paid subscription to a book swapping club (that cuts out $20) and I'm probably not renewing Amazon Prime but we will see, it has been helpful this year so far with the house though. So I might keep it for the shipping benefit. It's one of those things that pays for itself because of the shipping benefit.

    I just quit my part time job because I had so little time and it made me so stressed I was sick a lot, which was affecting my full time job directly.

    I did used to do some mystery shopping so once I recovered from my recent injuries from a fall I might do that again. We have two extra rooms so I've thought about the renting out like air bnb or something but the house was a short sale and it needs a lot of work so I think we'd need to address that. It's the condition those rooms are in and that bathroom I wouldn't want to pay money to stay there. (Needs some patch repair to the walls etc.)

    I am considering selling off some books but they won't fetch much. The people who moved out of this house left behind a few items that could get some money so I am hoping to do a yardsale when the weather gets better to sell those items and a few books. Other than my books we don't own much. We used to live in a studio apartment. And I don't like to collect clutter.

    I think I might post cash spent on meals that would help me out to see that in black and white.

    I've been finding change all over the house. I have this one dish that has coins it in but its still sitting in a packed box since the book case I was using as a nightstand has become a bookcase once again. If I get around to it I'll roll the pennies like I meant to. I also have a scratch ticket around here somewhere with money, my husband buys those from time to time. I think I'll turn those in and put it in the emergency fund to chip away at that high interest debt.

    I am trying to get everything calmed down a bit because next year I'll have to turn my car in. I'm trying not to worry about it because the possibilities are endless. I was hoping to be able to save a good down payment so I could keep this one but with the disasters I might not be able to. Maybe there will be something on the lot with a cheap lease and I can pay if off at once and have another two years to save again.

    We'll see the point is I just have to save. I'll have no options with no money. I'd just like to avoid a car payment again while still driving something reliable. Is really all it is.

    Thanks for the words of encouragement everyone. It's been great to lower the debt. I just feel like a failure because I was hoping to finally put decent money away for retirement and the unexpected house repairs (now both at 0% loan and that bit of money on the credit card) really put a dent on what I have left over each month.

    Oh well I'm going to kept trying. I'm just tired.

  8. Permanent Temp Says:

    Sorry book swapping club cuts out $20 a year. I didn't make that clear.

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