Wow -- my expenses vs. income are pitiful!
Apparently, I have been depending on my CC's more than I realized! I have been working this past month to devise a budget for myself, and I have been trying not to use my CC's (except for my feline emergency). I am discovering why my cc bills were adding up.
From what I can figure, using my job income ($3200), basement rental income ($650), and loan repayment from ex ($150) a month, I am coming up at least $200 short (and that is with the barest of budgets). Now, I am currently not getting my CS arrearage ($440 a month) -- but even with that, I would just break even. I really had no idea (and I'm embarrassed to admit it).
I 'bounced' a purchase yesterday, for the first time in probably 20 years. Ugh! I'm used to keeping at least $1000 in my bank account, but I just don't have it. I have maybe $60 in my account at the moment. We get paid once a month -- 2 more days! The furloughs and arrearage lack means ~$750 less a month (maybe more, depending on my actual salary this year).
This month I should see at least a small increase in salary (the first month of the new school year re: salaries). I don't know how much it will be, if any, because of the 10 furlough days we have this year. I also adjusted my withholdings (increased my deductions from 3 to 6) -- but last month this did not impact my income at all, which was confusing? Hopefully, it will have cause an increase this time (I had a $3000 return last year).
I would like to negotiate a lower house payment, but I did the HAMP worksheet online, and it would only save me $35 a month. My bank (U.S. Bank) says they will only look at working with me if I go through the HAMP process with them, but I don't know if it is worth it?
I hate my bank account being empty! It is disconcerting to say the least. I'm just not seeing any opportunity to have even a small cushion anytime soon.
So, my financial situation is worse than I thought. To be fair, the additional $4000 in medical expenses and $550 car repair THIS month -- $800 of which was cash) really hurt me. The additional CC minimum payments are hurting, too -- now my minimums are around $600 a month. Just the minimums!
Ugh ugh ugh.
Thanks for listening. I'm just shocked and discouraged, I guess. Ultimately, I know it is a blessing to be forced to look at my finances as they really are -- at least I have to acknowledge I have a problem.
From what I can figure, using my job income ($3200), basement rental income ($650), and loan repayment from ex ($150) a month, I am coming up at least $200 short (and that is with the barest of budgets). Now, I am currently not getting my CS arrearage ($440 a month) -- but even with that, I would just break even. I really had no idea (and I'm embarrassed to admit it).
I 'bounced' a purchase yesterday, for the first time in probably 20 years. Ugh! I'm used to keeping at least $1000 in my bank account, but I just don't have it. I have maybe $60 in my account at the moment. We get paid once a month -- 2 more days! The furloughs and arrearage lack means ~$750 less a month (maybe more, depending on my actual salary this year).
This month I should see at least a small increase in salary (the first month of the new school year re: salaries). I don't know how much it will be, if any, because of the 10 furlough days we have this year. I also adjusted my withholdings (increased my deductions from 3 to 6) -- but last month this did not impact my income at all, which was confusing? Hopefully, it will have cause an increase this time (I had a $3000 return last year).
I would like to negotiate a lower house payment, but I did the HAMP worksheet online, and it would only save me $35 a month. My bank (U.S. Bank) says they will only look at working with me if I go through the HAMP process with them, but I don't know if it is worth it?
I hate my bank account being empty! It is disconcerting to say the least. I'm just not seeing any opportunity to have even a small cushion anytime soon.
So, my financial situation is worse than I thought. To be fair, the additional $4000 in medical expenses and $550 car repair THIS month -- $800 of which was cash) really hurt me. The additional CC minimum payments are hurting, too -- now my minimums are around $600 a month. Just the minimums!
Ugh ugh ugh.
Thanks for listening. I'm just shocked and discouraged, I guess. Ultimately, I know it is a blessing to be forced to look at my finances as they really are -- at least I have to acknowledge I have a problem.
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