“Monthly Spending” Archive

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Ways to get by while on unemployment…

My budget was already threadbare but living with 50% less salary and on unemployment benefits has forced us to find ways to somehow reduce more.

First, we cut our dental and vision insurance. This is something that can easily be re-instated but the $25 a month can help me now.

Second, I cancelled all my appointments health related or otherwise. None of my appointments were an emergency and I requested that my doctor renew my prescriptions without the annual check-up since the last 6 years have been clear of any problems. These appointments and tests run in the neighborhood of $500.

Third, I called my cable company to cancel our cable, reduce our internet speed, and reduce our phone service. I explained our situation and was surprised when they offered reduced internet costs, reduced phone costs, and added free services and free channels for a 12 month period. I would tell you how much I’m paying – but I’m afraid they’ll figure out they made a huge mistake and ‘correct’ the discount… or fire the guy who gave it to me. I would have cut out the internet and phone entirely but my husband needs internet for school purposes and job searching late at night when he gets home (free internet at the library is closed) and I’m uncomfortable without a home phone for emergencies.

Fourth, I contacted my student loan company for a deferment.

Fifth, my husband and I contacted friends and family and let them know we’d be available for odd jobs. Since unemployment doesn’t start for nearly a month after a job loss, my husband has done everything from pulling weeds to insulating walls. I have been helping a company with paperwork at night after work. We use this money for groceries and for the important bills like electric and water. At no time should you feel you are ‘too good’ for any type of job.

Sixth, we cut off all our subscriptions and memberships. If you’re like us, you may not even remember you have some of them since they are automatically billed to your credit card and you may not look at each item on your online statement. Some examples: gym memberships, club memberships, magazine and newspaper subscriptions (some automatically renew unless you cancel). Savings – $50 a month.

Seventh, we’ve been using more public transportation. It takes twice as long to get somewhere, it’s uncomfortable, and it’s far from fun, but it saves $50-$75 a month.

It’s not a lot, but each item buys us a little more time.

Posted by Beks on October 19, 2009 at 8:31 PM in General Debt, General Personal Finance, Good Info, Insurance, Life Experiences, Living Frugal, Monthly Spending, Saving Money, job loss | 14 Comments »
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Losing Income…

One of our roommates is moving out on September 1st. We set aside money to cover the loss of rent for the month so we’re still on schedule. I was looking forward to having a quiet month with some alone time with my husband but it looks like I’ll be serenaded by the sounds of hammers and saws. We are using this time to tear down an interior wall between our bedroom and the guest bedroom to add insulation and soundproofing before the new roommate moves in at the end of September. If I want alone time with my man, I’ll have to throw on a hard hat, a ratty t-shirt, and an old pair of jeans. You can count me in whenever sledge hammers are involved.

I’m fortunate to be married to a hardworking construction genius who can do the work himself (plus, my husband looks irresistible in safety goggles). We only have to pay for the materials which should run about $100.

Why are we insulating? Our house was built in the 1950’s and no insulation was used on any interior or exterior walls. Our heating and cooling bills are much higher than they need to be. The initial expense of the upgrade will be quickly paid for in lower electric bills plus, it’s better for the environment. And… our new roommates are newlyweds – that’s reason enough in itself.

It always seems like when we have an opportunity to get ahead, the necessities of life burn through the cash. Between tuition costs, new dog vet bills, and the two weddings, we have had to pony up more than $3,000 in the last two months.

These expenses would have buried us in the past, but careful planning and frugal spending have kept our heads above water.

Posted by Beks on August 25, 2009 at 5:00 AM in General Debt, General Personal Finance, Home Ownership, Life Experiences, Living Frugal, Monthly Spending, Spending Money | 7 Comments »
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Overcoming Financial Mistakes…

My husband and I both know there is some padding in our checking account. Paying overdraft fees is a pet peeve of mine so I try to make sure we have a little more than we think. This month, we both used the debit card a few times and before we knew it, the padding was gone and we were well over our budget. I had to do a pricey and frustrating balance transfer from our savings to avoid an overdraft.

I am very disappointed.

This event led to the following changes:

1. More involvement by both of us. Often in relationships, one person manages the finances. When things don’t go well and money is too tight, this person feels the stress, the pressure, and the responsibility for the mess. We have both decided to dedicate and hour each week to review each transaction. Now we have more checks and balances on each others spending – otherwise, we’ll have another bad month.

2. We are refocusing our goals and setting rewards. Our next payoff is still a ways away and we’re getting frustrated and bored. We decided to give ourselves something to look forward to after our next payoff. It’s nothing huge, maybe a dinner out or a trip to the theater, but rewards between payoffs has become something we need to stay motivated.

3. Reconsidering our numbers. We went back to make sure our numbers were working for our ever changing budget. We’ve been underspending on gas and overspending on miscellaneous necessities (car repairs, house repairs, etc.). We decided to adjust our numbers and perhaps pay a little less on our credit card so we can stop panicking when things aren’t balancing. Leaving the numbers the same would be great, but it’s obviously not working and it’s causing frustration.

4. We have decided to spread our focus. It’s easy to let finances consume our thoughts and lives. Rather than let this stress grow, we decided to let ourselves enjoy other things in life. Running, swimming, yoga, gardening groups, and organizing the garage help to keep our mind free of the finance clutter in our brains.

When there are long distances between payoffs, it’s important to work at what is frustrating you. You can’t solve everything, and it will be painful, but taking steps to at least reduce stress will help to prevent burnout. I’d rather take things a bit more slowly than give up entirely.

What have you done to motivate yourself and prevent burnout?

Posted by Beks on June 29, 2009 at 7:49 PM in Confessions, Credit Cards, General Debt, General Personal Finance, Keeping Motivated, Life Experiences, Living Frugal, Money & Relationships, Monthly Spending, Reducing Debt | 5 Comments »
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Men, Women, and Money…

When my husband and I were first married, we kept our money separate.

We argued about who should pay for groceries, who should pay for dinner, and who should pay for everything in between. I hated asking him for his half of the rent each month. He was my husband – not my roommate. It finally came to the breaking point when he couldn’t afford rent and we had to clean out our savings and use our credit card to get by. We opened a joint checking account the very next month.

We learned to work beside each other and the arguing stopped.

We made our mistakes – financing nice cars, charging vacations to credit cards, and remodeling our bathroom on credit – but now that we’re working to become debt free, we are partners in the fight. I wish someone had told me early on that working together as a couple was a necessity for a good marriage and good financial health. As I listen to my co-worker talk about his wife ‘owing’ him money for tires on her car, I couldn’t help but think… ‘No wonder he’s on his third marriage.’

So how do we do it? We each get a $3 daily allowance in cash each week. I don’t care what he spends his on, and in return, he doesn’t care what I spend mine on. We usually spend the money on work clothes or a bi-weekly dinner out together. This week, we split the cost of a silly $15 video game we both would enjoy and a $25 set of solar lit pavers for our garden. (And yes I know, $3 may be more or less than you spend, but it works for us)

My husband and I rarely argue about money now that we’ve enacted the $3 daily allowance rule, but we still fight about very serious issues… like the direction of the toilet tissue.

Do you keep your money separate? Or do you have a joint account? And how much do you allow each other to ‘blow’ each day?

Posted by Beks on June 8, 2009 at 5:00 AM in Credit Cards, General Personal Finance, Good Info, Life Experiences, Living Frugal, Money & Relationships, Monthly Spending, Spending Money | 24 Comments »
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Over Budget…

Confession time…

We went over budget by $90 this weekend.

I wish I could say it was on something important like an investment, a donation to the cancer society, or giving to help a military family but…

The $90 was spent on 5 flats of chicken thighs, 3 bags of charcoal, 4 fruit pies, green salad… and a round of golf.

My husband threw two hefty BBQ’s this weekend and went golfing with his brothers.

Fortunately, we both worked extra hours last week so we didn’t fall behind – in fact, we still came out ahead. Sometimes, inviting friends over to enjoy smoked chicken and homemade pies is worth it – especially when your BBQ is interrupted by an unexpected 20 minute fireworks show.

We sang Livin’ on a Prayer by Bon Joni while playing Rock Band late into the night.

I’ve been wonderfully budget conscious for months; I hope you can forgive this exception.

How was your holiday? Any budget hiccups?

Posted by Beks on May 26, 2009 at 5:00 AM in Confessions, Life Experiences, Living Frugal, Monthly Spending | 14 Comments »
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Fighting taxes…

I’ve been stewing over the latest property and sales tax hikes. I don’t understand why Arnold Schwarzenegger thought raising taxes substantially – in this economy – was a good idea.

But then again…

This is the same guy whose ‘sound judgment’ created the likes of Junior and Jingle All the Way.

And now, he wants to prolong it for several years through a special statewide ballot?

When I make less, I have to spend less. I can’t demand more money. Why can my state live financially irresponsible in a way that I can’t?

I didn’t give my approval on May 19th. I have to figure out how to survive on my new tiny salary; can’t I demand the same for my taxes?

Is this just a California thing or are you spending a couple extra Benjamin Franklin’s a month on taxes?

Posted by Beks on May 21, 2009 at 5:00 AM in General Personal Finance, Home Ownership, Life Experiences, Living Frugal, Monthly Spending | 23 Comments »
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Normal by the Numbers?

I’ve been asked to reveal my actual monthly budget numbers. I was reluctant at first and then realized it may be a learning experience and I should see if I am normal in my expectations of my money.

No, I am not going to reveal my housing costs. Asking a San Diegan to reveal her mortgage payment is like asking a New York housewife to reveal her age. The only thing likely to happen is a giant string of lies.

I’m also not going to reveal our charitable giving amounts. What we decide to give is a very personal decision and it’s not an amount I’m willing to change just to pay more on bills.

Savings: $50
Electricity/Gas: $105
Cell Phones: $100
Cable/Internet/Phone: $100
Grocery: $300
Gas: $260
Laundry: $10
Toiletries: $11
Clothing/House Repairs/Animal Care/Spending Money: $200
Water: $70
Trash: $18

All remaining money is used to pay our mortgage, our credit card, our student loans, and my husband’s truck.

So. Am I normal by the numbers? What does your budget look like?

Posted by Beks on May 18, 2009 at 5:00 AM in About Me, Confessions, General Debt, Monthly Spending, Reducing Debt, Spending Money | 29 Comments »
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