Hubby & I had a very impromptu budget meeting last night.
He brought me his Holiday booking sheet from work. If he wanted to book time off in the first three months of the year, he would have to book it now. He thought it would be a good idea to book a week off for a tropical vacation we should be taking. I reminded him that there is no way that a vacation like that is in the budget.
He's very disappointed about that. Now he knows how serious our financial situation is, once again.
The good news is we have an income still coming in, both his and mine. The bad news is that all savings we did have to keep us afloat is now gone. Again, we will be spending the winter struggling to keep up with the bills, and paying whatever we can toward the debts.
We agree that we hate feeling this way, like we're always seconds away from financial disaster. I think he's now aware that he must be much more involved in the day-to-day workings of our money. The way it is now isn't working. I always have to be the bad guy, and say no to things that I want as much as he does. (And Lord knows I have trouble saying no to spending money!)
We are still very much a work in progress. We have paid off huge amounts of debt in the last three years, and there is more waiting to get paid off. It's just different kinds of debt now. We're still living above our means, and that is something we need to work hard at changing. Together, we can do this.
I'm in the same boat as you. We buy frivolously and live above our means. The BF has recently become more into talking about the budget though.
ReplyDeleteHope you can find a way to make it all work out. It's a long, hard journey but you aren't alone. -Hugs!
ReplyDeleteEboo, my question to you, not that you need to answer it here, but something to think about as you ponder different ways to improve your finances... are you living above your means because you spend where you shouldn't or because you don't bring in enough money to cover all the basics? The answer to that question should drive your financial plan.
ReplyDeleteGood luck!
~ Makky's Mom
I am right there with you. No money for extras. Living day to day just praying nothing breaks down, including me. But you have done very well an d so have I. You inspire me to hang in everyday that I read your blog. Thanks
ReplyDeleteMakky's Mom raises a good question. If the income is not covering basic living expenses, than you need to make more money or come up with (semi?) radical ideas to cut living expenses: cheaper place to live, reduction in utility packages, cell phone bills, etc. I'm a new reader, so apologies if you've already thought of/done all of that.
ReplyDeleteCan you pick up additional part-time work and throw that money at the debt?
Sorry to hear you're struggling right now... :( Do you keep a spending diary? That will help you see where you need to plug the holes so to speak!
ReplyDeleteAll the best my friend!
ReplyDeleteHaving hubby aboard will definitely make the struggle a bit easier Eboo. Here, I am in charge of the budget and Michael is happy to let me do it all. I hate being the one to say "no" all of the time too. It takes TWO to make the budget work!
ReplyDelete