What makes more sense?
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What makes more sense?
| Mon, 10-18-2004 - 12:05am |
I seem to be having alot of trouble lately by cutting myself a little too short every two weeks when I get paid. I have it now so I STRICTLY have to pay a certain number of bills in a certain amount every time I get a paycheck. And while this is helping alot toward cutting down debt I also am finding myself lately always strapped for cash and having to foot alot of the ulitity, cable, phone, ect. bills over to my live-in boyfriend.
He has NO problem paying the majority of them because he knows my situation and it's the type of thing where we both know once I'm out of debt I will be more then willing to be a big help for him when it comes to saving up for a car for his use ( his broke back in april ). But from experience, do you guys think it's better to pay the debt off quick and easy - even if it means not having ANY spending cash EVER? ( and I don't mean LOADS of it, just for simple things like.. to chip in for groceries or go to a movie once a month, ect ) OR to extend my system for an extra month or two and leave myself with a little more money in my wallet for the time being? ESPECIALLY with holidays coming up.
Ahhh, I'm so confused! :(

kel
Jenny
co-cl Never Say Diet
Debt Support Board
Depression Support Board
Jenny
All my best,
Danni
I also think you should factor in a bit of pocket money for "fun money" so you don't end up feeling so deprived you go out on a spending spree.
That's my 2 cents.
Take care of the most important stuff FIRST. Like, rent, food, car payment, gas, utilities. THEN divide up the money for other bills, like the credit cards, etc. I know that this sounds so backwards from what we're used to hearing, but if you take care of the basics, then you are better prepared to deal with life. A book that addresses this is the Jerrold Mundis book, "How to Get Out of Debt, Stay Out of Debt, and Live Prosperously." Or, "Financial Peace Revisted" by Dave Ramsey.
I'm not saying to duck your other bills, I definitely think they should be paid. It may have to be that they won't get as big a payment. Will they yell? Oh, most defintely! If, after taking care of all the essentials first,& dividing up the remainder evenly, and paying them what you can you still find yourself way short, it may be time to consider a part-time job.
I would also recommend putting some money aside for an emergency fund-it doesn't have to be a HUGE one, maybe even $500. That would help ease the unexpected things that pop up from time to time.
~Lisa