We are both college graduates who make good salaries but we can't seem to get ahead. No matter what we do, it feels like we can't catch a break. Just when we think we are going to get one step ahead, something happens to knock us two steps back. I know we dug this hole of debt all by ourselves, but sometimes it feels like the universe wants to make sure we stay there.
Living paycheck to paycheck is the worst feeling. I never know when the next disaster is going to hit. We have saved up a $1000 emergency fund like Dave Ramsey suggests, but I'm always afraid it's not going to go far enough. If the washer and dryer both go out, that won't cover it. If we need a major car repair, $1000 isn't going to be enough. Money is a constant worry in the back of my mind. What if? What if? What if?
We are ever so slowly digging ourselves out of the mess we created, but sometimes we make decisions that keep us in debt longer, too. For instance, we are remodeling our kitchen... completely - new floors, cabinets, counters, walls, electrical, appliances, you name it, we're doing it. And we aren't going further into debt to do it. On the flip side, though, all the money that could have gone to helping us pay off our debt faster, is going to help us cash-flow our kitchen.
Every other Friday, which is how The Husband gets paid, I sit down and figure out what has to be paid within the next two weeks and pay it. Ideally, I would like to only have to pay bills once a month, go to the bank once a month, and not have to worry about how this bill being due coincides with this big bill and we don't have enough money to pay for both of them. Although I haven't talked much about my goals yet, (I do plan on getting to that eventually), getting a month ahead with our finances is one of my main goals. I want to break the paycheck to paycheck cycle and start living on last month's income.
We aren't there yet, in fact, we aren't even close to there yet, but we are working on getting our financial house in order so that we can get there. More than anything, I want to get rid of the stress that living paycheck to paycheck brings. I want to stop spending tomorrow's dollars on today's things; that is no way to live. Living paycheck to paycheck makes it very difficult to meet any financial goals, let alone, audacious ones. How can I get out of debt, payoff my mortgage, save for a car, or do anything if I have no idea how much money is going to be in my bank account next week.
The idea of living on last month's income is so appealing to me because then I know exactly how much money I have to spend that month and I'm not banking on money that may or may not show up on payday. As it is, we hope we are going to get as much money on payday as we think we are. If that doesn't happen, then we are in real trouble. If The Husband's job goofs up and we don't get paid, because we live paycheck to paycheck, neither will our bills. If my work has a billing error and my paycheck doesn't go through, because we live paycheck to paycheck, my mortgage wouldn't get paid.
Those are sobering and scary thoughts, and more support for getting out of the paycheck to paycheck rat wheel!
We are ever so slowly digging ourselves out of the mess we created, but sometimes we make decisions that keep us in debt longer, too. For instance, we are remodeling our kitchen... completely - new floors, cabinets, counters, walls, electrical, appliances, you name it, we're doing it. And we aren't going further into debt to do it. On the flip side, though, all the money that could have gone to helping us pay off our debt faster, is going to help us cash-flow our kitchen.
Every other Friday, which is how The Husband gets paid, I sit down and figure out what has to be paid within the next two weeks and pay it. Ideally, I would like to only have to pay bills once a month, go to the bank once a month, and not have to worry about how this bill being due coincides with this big bill and we don't have enough money to pay for both of them. Although I haven't talked much about my goals yet, (I do plan on getting to that eventually), getting a month ahead with our finances is one of my main goals. I want to break the paycheck to paycheck cycle and start living on last month's income.
We aren't there yet, in fact, we aren't even close to there yet, but we are working on getting our financial house in order so that we can get there. More than anything, I want to get rid of the stress that living paycheck to paycheck brings. I want to stop spending tomorrow's dollars on today's things; that is no way to live. Living paycheck to paycheck makes it very difficult to meet any financial goals, let alone, audacious ones. How can I get out of debt, payoff my mortgage, save for a car, or do anything if I have no idea how much money is going to be in my bank account next week.
The idea of living on last month's income is so appealing to me because then I know exactly how much money I have to spend that month and I'm not banking on money that may or may not show up on payday. As it is, we hope we are going to get as much money on payday as we think we are. If that doesn't happen, then we are in real trouble. If The Husband's job goofs up and we don't get paid, because we live paycheck to paycheck, neither will our bills. If my work has a billing error and my paycheck doesn't go through, because we live paycheck to paycheck, my mortgage wouldn't get paid.
Those are sobering and scary thoughts, and more support for getting out of the paycheck to paycheck rat wheel!
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