November 12, 2019 at 2:49 pm #205286
I don’t like the Christmas crowds either, TestDummyC. I still go to all the shops, but I don’t like it. I am not a crowd person: I never will be.
Anyhow, there is a chance my income could be stopped. I can’t go into details. But I am dead if I lose my income.
Money could well be very too tight to mention this Christmas. And I must admit, I am very scared.November 12, 2019 at 4:50 pm #205292
@kitkatkitty what awful news… its never nice to lose a source of income but at Christmas its twice as hard.November 16, 2019 at 11:28 pm #205338
Oh, dear. I surely hope that doesn’t happen. If it does, keep your head up. Those who truly love you won’t expect any gifts this year.November 17, 2019 at 9:10 am #205346
Fingers crossed my source of income won’t be stopped. Unless I earn more than a certain amount of money, they can’t stop assisting me with payments. Plus, surely it is better to pay for a book contract than drugs and alcohol? I have committed no crime.
Thank you all for your support. I feel sure they’ll keep up the payments.November 18, 2019 at 8:01 am #205366
I hope things go well Kitty. Do you have good information or know where to go to to get advice if you need it?January 6, 2020 at 3:35 pm #206570
I do recommend using a credit card, but like @cassandra says, not carrying a balance. Not only is it safer for you, but you’re also losing money if you don’t use one.
I use a points card from my bank, and I pay all my bills through my card. I also buy everything through that, and then pay from my checking account. This December I cashed in my points for Amazon gift cards … $1800 worth. That let me go on a very nice Christmas shopping spree!
For budgeting, my biggest recommendation is having multiple accounts. Find a bank that gives you free checking and savings with no minimum balances (lots of banks will give you this for free if you have your direct deposit there), and preferably the same bank where you can also get a credit card.
Have three savings accounts: one for short-term “fun” savings, another for your yearly bills/emergencies, and another for very long term. Have money transferred it automatically from each of your pays … say $100 for your “fun” savings, $200 for your emergency fund, and $400 for your big savings. If that’s too much right away, start small: say $10/$20/$40, and increase it by that amount each year. I started with just a little bit, and each year when I got my raise I increased it, and after a few years I had a lot of money going into savings and I didn’t even notice it.
If you try to save after your spending, you’ll never save anything. But it’s sooo much fun when you suddenly realize you have $2500 in your fun account that you can spend on anything you want.
I know absolutely nothing about cars, I don’t even know how to put air in tires. But I have a mechanic I really like, the owner is a woman and her business is run very honestly. I completely trust them to take care of my car, and I’ve never felt like I was overcharged or had something pushed on me. There’s one mechanic there who likes to flirt with me, and he likes to talk about things about my car. I feel like he’s speaking an alien language or something, so I just smile, nod my head, and keep acting impressed lol.
1 member liked this post:January 6, 2020 at 3:43 pm #206572January 7, 2020 at 2:03 am #206583
I agree with using a credit card. Mine pay cash back. I don’t pay all my bills through mine, as I’ve long ago implemented auto-pay. I do use it for everything else, and I’ve accumulated about $700 so far.January 7, 2020 at 5:30 am #206590
This year I am trying something new. It is a Christmas club savings account with a monthly automatic transfer of Thirty dollars. Not seeing it in my regular account will help me to leave it alone and not touch it until late fall. Hopefully this will help offset some of the cost for the holidays. My kids are both preteens and they want electronics which are more expensive. It is just too much to try to come up with all at once.
Another thing that we did last year was getting a consolidation loan for all of the tedious miscellaneous bills that we had. Every month we paid the minimum and never could seem to make any progress. Now it is one payment and we can see it going down every month so it is at least positive progress.
My husband is good at working on cars and I honestly never realized how much we are saving not having to pay a mechanic to that for us. As far as extra income, occasionally I babysit and sometimes clean houses.January 7, 2020 at 8:44 am #206600
I suggest a credit card too but be very careful. With mine the balance is paid off each month so it is really pretty much of a free service. It would be too easy for someone on a low income to be caught out though and slide into debt. At that point the vultures gather and life becomes a bottomless pit! Multiple accounts also work but it is harder to keep track. One plus with them though is that if their is any fraud or other similar hassles then only one account is affected so any loss, even if temporary, is limited to a smaller amount. A credit card will help here too as the banks are quicker to act and you have guarentees whereas with a normal account banks tend to be far slower and often require proof. It is your money you have lost, not theirs and so they drag their heels.January 7, 2020 at 2:07 pm #206608
I agree with using a credit card. Mine pay cash back. I don’t pay all my bills through mine, as I’ve long ago implemented auto-pay. I do use it for everything else, and I’ve accumulated about $700 so far.
I do auto-pay too, but I have my bills auto-pay through my credit card XD
I technically use two credit cards: one for my bills and another for my spending. But I have both linked for the same points.January 8, 2020 at 4:26 am #206642
Yeah, I have a couple of things on auto-pay to the CC, like magazine subscriptions, semiannual refrigerator filter shipments, my cell phone bill. However, it’s a pain whenever I get a new card. I have to go to each of these merchants and change my CC info. At least, my bank account never changes.
It used to be a Sam’s Club Discover card. Since Discover isn’t as popular as Visa or MasterCard, I have a long-held Visa for any merchant that didn’t take Discover. When Sam’s switched to MasterCard, it was a rough ride for the first couple of years. They kept locking my account whenever I charged purchases previously made with Visa…because there was no previous purchase history.
Also, for no apparent reason, I would get a new card in the mail. Normally, any other CC would provide an explanation. Last year, I made a deposit for a cruise…the remainder to be automatically charged on November 26. Well, guess what? I received a new card in the meantime, and it was like pulling teeth to get the travel agency to charge to it. My research discovered that it was for no other reason than the card being redesigned. WTF?! They couldn’t have waited until the card expired in 2021?!
After the cruise in March, I received another new one. This one has “World” printed on the front. I give up.January 10, 2020 at 1:02 pm #206696
I – thankfully – have not had my source of income cut off* I was very, very worried a few months ago. But I got a letter in the post saying my money would continue to come into my bank account. I felt such relief when I got that letter.
Because being broke is terrifying: but I budget and just generally look after my finances. Still, I’d like to earn more money. Not out of greed: but out of wanting greater independence. Not too much to ask?
*breathes huge sign of relief.January 10, 2020 at 1:32 pm #206698
I’m so glad KitKatKitty that your income isn’t going to be cut off! 🙂
I understand your fear of being broke, it’s probably one of my biggest fears after losing my eyesight. Especially when I was single, I was so scared I’d end up homeless, sometimes I’d worry myself physically sick.
I know too what you mean about wanting more, and it’s definitely not greed. I was there too, when I was working as a bank teller I had just enough money to pay my bills, and maybe a few extra dollars once in a while to squeak by with. I remember times wishing I could just have another $100 a month. One thing I’ve learned though (my income is now more than triple what it was then) is that whenever you get more income, it seems like your expenses somehow magically keep pace with it, and it never feels like you have enough 🙁January 12, 2020 at 11:55 am #206744
I suppose you’re right: no matter your income, it never feels like enough. There is always something to pay for: something to buy. It’s like I bought two pairs of shoes [expensive shoes] within one week. BUT I love these shoes and they fit perfectly. Plus, they’re winter shoes, so will last forever. But – back to the subject – no matter your income, you’d always like to earn more.
But I make do with what I have: what else can I do? There’s a minimal chance of me winning the lottery or earning mega-bucks. I do like having money, though: I won’t lie about that.