Newbie with a question ...
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|Mon, 06-16-2003 - 2:13pm|
I'm new to the message board and have a question regarding tips on budgeting when you don't have a definitive income. To introduce myself, I am a 42 year old mother of a 2 year old son with a wonderful husband, but I have managed to become trapped in a cycle of unsecured debt. I actually went through credit counseling previously, and after 5 years was able to become debt free. Unfortunately, I also relocated to another state for a career opportunity, got married and had my son, and due to various circumstances, some of which include frivilous spending which I hate to admit, have fallen into the debt trap again. Although I have cut up all of my credit cards and use only cash (debit card) for any expenditures, I still have make strides to get the debt paid off. I want to kick myself for getting back into this situation when I was able to become debt free previously.
Anyway, my question is... DH currently works as a plumbing mechanic at commerical construction jobs, so his income can be very variable, sometimes he works a full 40 hour week, but other times he may only work 30 hours or less depending on such factors as weather, supplies, if the jobsite is ready, etc. And with this type of job, he also faces layoffs and job changes frequently. Although I have a good career with a reliable income, our family needs DH's income as well. I am having a hard time budgeting not knowing week to week what his income may be (or if at all ...). I am unable to pay all expenses strictly with my income alone, and DH had a recent 3 week layoff which caused the credit card payments to fall behind (and once behind its difficult to catch up).
I worry constantly because we don't have any savings or emergency funds to speak of and I feel stressed that I am unable to meet our expenses on my income alone. Any tips on how to form a budget based on DH's uncertain income?