Budgeting question, how to live on one paycheck a month

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      If you have access to a library, look up work book and reading book on Dave Ramsey. He is an excellant financial advisor. We are taking 13 week classes on budgeting, saving, getting out of debt etc.

      He will tell you that it takes time. When you start the budget it will take at least 3 months to adjust and to see it work. He also tells you to sell what you don’t need and get another part time job if you need to.

      My husband and I will be downsizing when our youngest goes off to collage (which will be in a few years). We have made changes in our choices, but we have to stick to it. It is not a quick fix it is a lifetime change.

      but it
      works.

      melissa

      .
      original message —-
      from: stantonpa to: budget101_@yahoogroups.com
      Sent: Monday, October 15, 2007 11:13:05 AM
      Subject: Budget101.com : Budgeting question, how to live on one paycheck a month

      Hi
      This is a strange question to ask and I need some advice.

      Recently I changed jobs after 21 years in the drafting field I
      changed jobs and companies. My new job is cost estimator. I have
      never done anything like this before so I am excited to be doing
      something new.

      My background in engineering will be helpful with
      quoting for my new job. The pay scale was also a factor in my career
      change.

      My question really is about living on a once a month payday and
      budgeting bills.

      For 21 years I was paid every weekly but the new company I am working
      for only pays its salary employees once a month (Last Thursday of
      every month is now my payday.) I started work on September 24 so my
      first check will not be until October 25 according to the personal
      manager. This just took me off guard and has already put a strain on
      my savings. The other kicker to this is after years and years of
      letting my debt get out of
      hand, I started a “debit diet budget” to
      get my money under control.

      However, I was only two months into this
      budget when I started this new job. My budget right now is surviving
      on my saving to get me through this month to my fist paycheck.

      Is there anyone else out there working at a job that pays like this?
      Can you give me advice on the best way to pay bills?

      Examples of random thought I have had.

      -I could pay the bills as they come in one by one. (Quick turn
      around / in and out thinking)
      -I could continue pay the bills as I have been by sorting them out
      by what week the due date and sending out at the appropriated time?
      (This would be a controlled and calculated budgeting as I have been
      doing)
      -The other option is to set up direct payments from my account to
      bill company’s so they can just take the money when due. (Don’t
      worry and let them do as they will
      attitude)

      I have thought of pro’s and con’s to all of the above options.

      I am just looking for some advice from others in my situation.

      Living on this month to month will take some time to adjust I know
      already. I now have a running joke with my family that this is just
      my first step into living on fixed income and retirement.

      |||/
      (o o)
      —-ooO-(_)-Ooo
      .

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Budget101 Discussion List Archives Budget101 Discussion List Budgeting question, how to live on one paycheck a month