Anyone else used to living on overtime?

iVillage Member
Registered: 09-07-2005
Anyone else used to living on overtime?
7
Wed, 12-14-2005 - 12:38pm

DH and I have been struggling this past 6 months. I could not figure it out. We did not really change our spending habits. Well last night I took a look at DH's check stub and his year to date earnings are going to be less than last year. DH made $7,000 extra than his normal pay by working overtime. I know that this year he hasn't workded as much overtime I just did not put two and two together. I always say that I don't count on that money that it is just extra, but I guess we really do. I guess when you get accustomed to living a certain way it is harder to keep that up when you are making less.

Let's just say last night I had a huge awakening.




Edited 12/14/2005 5:44 pm ET by brown_eyed_momma
iVillage Member
Registered: 12-05-2005
Wed, 12-14-2005 - 1:05pm

Interesting...after reading your post I checked my spreadsheets and realized I am "living on my 2nd job". My first job covers only my debts (mortgage, student loans, heloc, credit card, and auto loan), literally within dollars of the total amount due.

My second job covers everything else (utilities, homeowners assoc, insurance, gas, groceries, etc...). I am so thankful I have 2nd job.

iVillage Member
Registered: 12-12-2004
Wed, 12-14-2005 - 7:59pm
Hi, BEM. Yes, I have been getting used to working overtime. It depends on the season if we are busy, etc. If I didnt have OT, I'd be short about $20k/yr. That's a lot of change. Also, if by chance they are going to cut out the OT, I need to start looking for a second job. WHiz.
iVillage Member
Registered: 01-06-2005
Wed, 12-14-2005 - 8:42pm

HUGS! That is crummy, but glad you figured it out so you can start making some minor adjustments to account for the less income.

Our trouble is that we live in a "paycheck-to-paycheck" mentality. This would be fine if DH worked 52 weeks each year. Unfortunately, he is laid off for 1-3 weeks in July and 2-3 weeks at Christmas each year.

After THIS lay-off, we are going to try to plan more proactively to account for the short-term lay-offs.

~Aravis~

 

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iVillage Member
Registered: 10-10-2003
Thu, 12-15-2005 - 11:58am

Been there done that....

My DH's job is feast or famine. He is either working alot (60-80 hours a week) or not working at all. In the last couple of years he has had a few long lay-offs lasting 5-6 months. He had several years where there was lots of overtime, and he was never off, and we grew to count on that money. Sept11 changed all that for us, there were huge cutbacks and less new construction, and almost no work. His income was reduced by 3/4 of what it had been previous.

We have stuggled to find ways to cope with his fluctuating income. I work FT and have a good job, so we budget for my salary to cover all fixed costs (Like mortgage, cars, insurance, utilites) We use his salary for debt reduction (most of which we incurred during some of the long lay-offs), savings, and fun money.

Once all our debt is paid our goal is to save 50% of his earnings.

Not fun is it.... Hope you find some stratagies to help.

iVillage Member
Registered: 01-06-2005
Thu, 12-15-2005 - 2:13pm

Well, the plan is a budget. ::rolling eyes:: But DH just hasn't been able to stick to one, and since he is the breadwinner and I stay home, I have a hard time telling him to watch his spending.

He is upset that we hardly have any money to spend on Christmas gifts, and I told him we should have been saving a little bit of money every month for that...but he told me earlier in the year that doing that was silly. Hence, why we have hardly any money for Christmas gifts.

We have both agreed to try harder to stick to our budget, which will help us cope with the lay-offs and other expenses that occur at various times throughout the year.

~Aravis~

 

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iVillage Member
Registered: 05-19-2004
Fri, 12-16-2005 - 11:02am


We're in the same boat. I try budget his check on the low side, but in my mind I'm used to that hearty overtime.(And usually have it spent on bills before I see it!) He works anywhere from 45-55 hrs per week. His work has been going strong now for a good while but you never know when they'll slow down. He's made almost $20K more (including a decent raise)than last year. (That helped us pay off all of our ccs and a personal loan.)

I wait tables at an Itallian Restaurant so that also is very unpredictable! Some nights I'll make $80 or more~~ then others.....like last night I made $12 because we had a snow/ice storm. Yuck! We try not to depend on my income too much because of that. I'll use my tip money for gas, fun money, gifts, clothes and unexpected things. Sometimes I really want a steady paycheck so I know what's coming in!! But it is nice to have that cash at the end of the night too!!

Nicki

iVillage Member
Registered: 01-06-2005
Fri, 12-16-2005 - 11:36am

If you have all your CCs paid off, you are doing well!! Just be sure to save some of that "extra" every paycheck for the possibility of less hours....

That always hits when you least expect it! ugh!!

~Aravis~

 

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