Another newbie - needs some encouragement!
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|Mon, 09-09-2013 - 2:41pm|
Our family of 4 lives on 1 1/2 incomes (I work about 20 hours/week). We have 2 children, ages 5 and 3. Our budget is very tight but we were always living within our means.
Anyway, last month, we suffered a huge unexpected expense because of our car. My husband refused to ask his family for help (embarrassed) and I wouldn't ask mine (they already started college fund for our kids.) I ended up having to borrow from our line of credit at the bank, which we have never done before.
I do most of my work from Sept - May so our income at the time was significantly less.
Also, we do not escrow our taxes, so we have this $4000 bill due at the end of this month.
Finally, my husband and I run a successful business from home but that requires us to buy our goods before we can sell them to make a little profit.
So right now, we have those 2 large expenses to pay off by the end of September (though I am aiming for end of October so I am not overworked or disappointed).
I am unhappily having to cut expenses everywhere. No more going out to eat (and all I mean is going to to McDonald's so the kids can play in the play area!!) I am not even buying coffee there anymore, which I used to love to drink while doing my work. I think what hurts the most is having to cancel my daughter's dance classes. Honestly, she doesn't even seem to care but I feel like I cannot keep up with our neighborhood families who have their kids participating in so many activities. I don't have to live up to the other families but still.....the guilt sets in. No swimming lessons or gymnastics for the kids until after the debt is paid off.
I am spending more time selling items now too. I am preparing for a consignment sale of children's items, which can hopefully bring in several hundred unbudgeted income dollars. Hopefully I can push myself harder to sell more items on craigslist too, though I feel like I have no spare time. My husband is also spending more time on his business to bring in more income.
Sorry for the long letter. I had to get all of this off my chest. It's been a tough 6 weeks of making decisions and cutting expenses left and right.