A change in our financial plans…
I was excitedly counting down the days until the last week in January when my husband and I would receive our ‘extra’ checks.
Those of you on bi-weekly pay periods understand that twice a year, you receive three paychecks in one month instead of two.
We had planned to use this money to pay off my car and make another nice size dent in our total debt amount but things have changed…
Our jobs are becoming increasingly unstable.
My husband works in construction and I work for the government – two of the least safe job fields.
Rather than spend the money, we’re holding on to it until stability returns.
I can’t help but feel I’m part of the economic problem. I intended to buy new couches, pay off my car, pay down debt, buy… food. Instability has caused me to hold on to every cent (just don’t come over to my house. My couches are ten years old… and they were built to last three). I’m not spending anymore.
I would say, ‘It’s all good, we’ll be fine when we receive our tax refunds’ but…
The state of California is not issuing tax refunds.
Isn’t that pleasant? If we can’t afford to pay our taxes, they come after us but if they can’t afford to give us our OWN money back… it sucks for us.
No one said the government is fair. Thanks Arnold.
I’ve learned something important…
I haven’t learned to live within my means… I’ve learned to live below them.
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Posted: February 7th, 2009 under Debt Reduction, Life in General, Saving Money, Work.
Comments: 8
Comments
Comment from Michelle
Time: February 8, 2009, 6:17 am
You’ve also learned something more important – to save for a rainy day. You’re probably more wise than you know. And you’ll get your debt paid off – this rainy day fund will keep you from acquiring more debt should the worst happen. Stay the course and I’ll keep my fingers crossed for both of you. You’re doing the right thing, Beks … I’m in awe.
Comment from crazyliblady
Time: February 8, 2009, 1:05 pm
Making a payment on a car loan is not an altogether bad idea if you are getting really close to paying it off. I am with you, though. If you think your job is in jeopardy, put it, along with other regular deposits, into a bank account to help tide you over in the event of a layoff. I am also putting away as much as I can and paying off my debt as fast as I can just in case. Best wishes for this year and hopes that you can use that money later for something fun. 
Comment from a reader
Time: February 9, 2009, 12:28 am
Hi Rebekah,
Great idea. Definitely hold on to as much savings as you can.
Though I would suggest a few things. Please consider paying down your debt–As much as you feel you can afford to. The more you can pay off now, the less you will have to pay in general, and that will mean lower bills next year.
As far as couches and furniture, I would say don’t worry if they are 10 years old. We got our couch off of craigslist for 100 bucks. We have a 15 inch TV, probably from the 80s–free off of craigslist. We keep our thermostat at 60 degrees and bundle up at home. We dont’ have cable and we live in what our friends might consider a ‘bad’ part of town. But we are well prepared for a few lean years.
Don’t worry too much about what others think. From reading your blog, you seem like a hard working and determined young lady. Regardless of how bad the economy is, I believe that is the key to success–and it will get you through this. Best of luck with the upcoming months.
Comment from Emily
Time: February 9, 2009, 3:28 pm
We are need deep into this recession. And we have further to go. Purchasing, which drives this country economically, has dried up. I went to my local mall over the weekend, right next to Chicago. Most of the stores have closed, the discounting in the open stores is noteworthy. I actually think that some of the prices are up more, with a huge sign indicating that this is the 50% off price. No – I don’t think so. Have anyone else found this to be true? The Walmart across from this mall is jammed. And yes people are shopping. Even the prices in Walmart are not truly “savings”. I think we are again being schmoozed, for lack of a better word. Anyone else feeling this way?
Comment from Nicole
Time: February 9, 2009, 4:43 pm
I figure since the ‘ol government is saving 100 billion on the “stimulus package”, they can give us CA’s our danged money!
Comment from Lizzie
Time: February 11, 2009, 8:14 am
We have to pay state this year…….hope you get your refund!
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