2012 off to a poor start. :(

iVillage Member
Registered: 07-15-2003
2012 off to a poor start. :(
20
Tue, 01-03-2012 - 2:38pm

My DH forgot to pay our cell phone bill at the end of December. He went to pay it late today and didn't have enough money in his checking account to pay the full amount. He paid part from checking and part on our credit card that I never wanted us to use again. So he now has $0.09 in his checking and added $20 to our CC debt. I have only $19 in my checking account. We both don't get paid again until the 6th. :(

Great start to 2012. This is all a result of not tracking spending in December.

I was feeling so motivated earlier today - I had our pretty new January budget ready to go, a plan of attack for paying off debt this year, a masterlist of bill due dates so we'd always know what was coming. Now I feel defeated. No money in the bank the next few days is scary and a terrible feeling. I hope this is a lesson learned for my DH that we really do need to constantly track our spending.

I hate that it's only the 3rd day of the year and our debt has already gone UP instead of down.


 


Daisypath Anniversary Years Ticker

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iVillage Member
Registered: 07-15-2003
Fri, 01-06-2012 - 12:39pm

The before a baby part is huge. I do have two step kids, but we have none together. We really want children together and I very much want to be a mother. Hasn't happened yet but we are trying. I am struggling though because every little financial thing that happens makes me think we shouldn't have children because life is just too expensive. :( It's hard not to get too discouraged day to day. But that's another post entirely ... :) Glad my post gave you a laugh :)


 


Daisypath Anniversary Years Ticker

Community Leader
Registered: 08-25-2006
Thu, 01-05-2012 - 5:44pm
Your "checking your balance in the dark before coffee" just cracked me up.

The good part about a misstep is that it keeps us on our toes so it doesn't happen again. I think you two are going great! $1,000 saved and not using a CC is amazing!

And very wise to do now as newlyweds and BEFORE a baby comes along.
Serenity
iVillage Member
Registered: 07-15-2003
Thu, 01-05-2012 - 10:27am

Thanks ldp, I agree with your thinking. I also make less than $25k, so I think it's a miracle I've saved up my e-fund and don't use credit! DH's credit card has a balance because we used it to pay for our rehearsal dinner for 13 people back in September. Ugh. It's the only thing related to our wedding that was put on credit. Hopefully we won't carry it around for too much longer. I could see using it in the future for things like medical and dental bills, or major car repairs, that crop up - then paying it off with our savings/funds.

I'm in the process of merging our checking accounts. DH is annoyed beyond belief by the process of figuring out which bills come out of who's account. So having all the money in one place will be easier for us.


 


Daisypath Anniversary Years Ticker

iVillage Member
Registered: 05-09-2002
Wed, 01-04-2012 - 11:27pm

Yay for the baby efund! I am trying to get there, too. I'd rather put $20 on a CC than touch my efund at this point for something like a bill (maybe other's would disagree but I am learning had I always had an efund...well...that and if I didn't make under 25k for years that would have helped too....anyway, have a CC on my husband's account and that one I pay back and then some if I ever touch it. It is good because I am so accountable because it is "his" (ours really but still). Congrats on being newlyweds - we got married May 2010 and we are still figuring out how to merge things. Right now we just pay everything we each owe out of our own accounts and we have a joint account we never use. Horary for having more money than thought and even having positive versus negative for a few days well, you are still starting 2012 off on the right foot in my opinion. :)

iVillage Member
Registered: 07-15-2003
Wed, 01-04-2012 - 3:20pm

Marie and stacy - I just wanted to make it clear that I DO have a $1000 baby e-fund that I am very very proud of. I followed the advice here, and from Dave Ramsey, to do that and I recommend anyone else reading this do the same! In this case we didn't touch the e-fund and things worked out. I hope it would take a much bigger emergency than a few days late cell phone bill before I ever have to touch it. The credit card is a DH thing. I do not have one, and I never would have reached for it to pay that bill. We don't think along the same lines when it comes to that unfortunately. :( I personally would have suffered a few days without a phone, or eaten only out of the pantry delaying grocery shopping a week to pay it, etc. Rolled coins, not driven anywhere but work, sold something on craigslist, whatever it takes. DH is not of the same mindset as me, and we are still working out our compromises as newlyweds. I'm gazelle intense and he is reluctant :)

Beyond my baby e-fund I personally like to have other "funds" for emergencies - dental, medical, car maintenance, a christmas fund, etc. Those all got wiped out at the end of the year to pay for dental work for me (and a few Christmas related splurges). I'm sad that they all went down to $0, but thrilled my baby efund is still intact. My dental situation cost roughly $1,300, all paid in cash. Now we'll build the funds back up again and keep our fingers crossed for limited "emergencies" in the mean time.


 


Daisypath Anniversary Years Ticker

iVillage Member
Registered: 03-27-2005
Wed, 01-04-2012 - 1:02pm
My I suggest using part of that bonus to set up a baby emergency fund. That way if something like this happens again you have cash to use, rather than having to go to the credit card.

stacy
iVillage Member
Registered: 10-17-2010
Wed, 01-04-2012 - 12:29pm

I'm glad to see the situation isn't as bad as you first thought.

iVillage Member
Registered: 12-31-2010
Wed, 01-04-2012 - 11:57am
Been there....
If I can just say that this is WHY the baby eFund is more important to fund before starting to pay down debts than anything else you can do. I did the same as you for years, paid debt, had a budget, etc.
But once I figured out that I could not pay down debt and end each month broke, I needed that emergency fund, I was able to really start tackling the debts. It really is the key to this game, or it was for us.
-Marie
#Marie
iVillage Member
Registered: 04-10-2003
Wed, 01-04-2012 - 11:06am
I'm sorry you are having such a rough time Jsteele. However, this board is a sounding board to offer others advice and support, and trying to sell services is against the terms of service.
If you would like to stick around for the accountability and support, please do so (all are welcome), but please do not try to sell services.
Thanks.

Bex -

iVillage Member
Registered: 11-18-2008
Wed, 01-04-2012 - 10:51am
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