January hasn’t been a fun month
I never like getting to January in that the damage from Christmas is actually felt this month. It has been a difficult month to get through on one income on top of that. With no EF or additional income, it is getting increasingly difficult to keep focus. As the pressure or weight of carrying everything gets to me, it gets harder to keep going. I’m to that paycheck to paycheck point and there is nothing to show for it.
So if January was bad, how does February get better? We need to pay close attention how much is coming in, and what needs to go out. My wife will also be setup to help with our household income, even though it won’t be permanent yet. Spending is the single most important issue that needs to be watched very closely.
Getting through February is important because I’m patiently waiting on my bonus. The bonus does not necessarily fix problems, but it will help turn things in a much more positive direction. I can’t post details yet because it isn’t in hand yet. Priority before paying down debt is to get that EF back to 1k though.
Expect my regular monthly plastic pinch update and my net worth update. I might as well point out that debt is going up and net worth is going way down, partly due to the huge hit I’m taking on my retirement savings. Even though it is only Monday, I cannot wait until Friday comes around.
Keep the faith!!!
Hey!
I know that you are in debt and that you are trying out ways to come out of it. I would say… do not worry you would surely be able to pull yourself out of such a situation. Majority of our population is debt trapped but very few feel the need of coming out of it. At least you have that urge to come out of the debt. And if you have that consciousness in you, you would sure be able to overcome this crisis soon.:)
I’m glad to hear that your wife found a part time job. I wish her the best in finding a full time position.
Maybe you should try the envelope method for a month. Break it down into weeks…dealing with cash makes it impossible to over spend. While I don’t recommend it all the time, it really helped me on the months that I HAD to stick to my budget.
I really don’t understand why so many people complain about Christmas spending, if you can’t afford to spent at Christmas don’t spend. The majority of Christmas gifts are forgotten within one month and the only ones that benefit are the retailers and the credit card companies. All that going into debt for Christmas does is keep up an image that you can not sustain.
Yeh, I agree- January is a rotten month all around. Thank goodness February is right around the corner! Good luck Jim!
I don’t really get the christmas spending either. Money was tight over christmas, so we didn’t give as much as we have in the past. If this upset some family then it would be an issue with them and not me
That’s really good news regarding your wife finding a part time job.
We’ve started telling people now that this Christmas will be only Arts & Crafts. Hopefully, this will lessen its impact.