Paycheck to paycheck is about how I’m feeling with this last push to get out from under our consumer debt. I frequently find myself scrutinizing how much more we can pay off every time a paycheck is within sight. With only (cough) $3,900 to go, we are getting ever so close to the long-awaited finish line.
Hubs gets paid this coming Friday. I’m usually able to see his weekly settlement on Tuesday/Wednesday. By adding the two weeks, it gives me a rough idea of how much to expect on his bi-weekly check. I was relieved to see another good number, meaning we are in a position to send at least another $300 to the Visa. How much more, that I won’t know until I see the actual check amount. Our mortgage payment will also come out of this next check, and of course, that is our priority. I did hold back a smidge over $600 in our household account just in case. That’s the trouble with irregular income. You never know for sure how much a paycheck will be.
While I hate to think of ourselves as living paycheck to paycheck, the reality is that we are. Right now, though, it is a choice. We could have a lot more in the bank if we chose to only make the minimum payment on our debt. The trouble is, that will only prolong the process of getting debt-free. So for now, paycheck to paycheck it is.
Although I still don’t have the new statement for our Visa (I expect it any day now) I went ahead and scheduled another $300 for tomorrow. We will be down to $3,600! Very likely, they will get another smallish payment towards the end of the week. I get paid weekly on Saturdays. That will give us more money for next week that can go towards paying this blasted card off. Yep, paycheck to paycheck.
For those of you also digging your way out of debt, do you scrutinize every paycheck you get? Sometimes I feel I’m almost obsessive about doing so!
You’re doing great! I am interested to see how you’ll be with money once you’ve got your debt paid off. I hope you have that same “obsession” with saving for your retirement. We lived on half of our income for many years & saved the other. Which has made for a very comfortable retirement for us. I think that you’ll still continue to sock it away & be frugal – as even though we are financially comfortable with no chance of running out of money, it’s hard to change old habits! Keep up the great work!
No chance of us EVER going back into consumer debt. Makes me sick just thinking of it. We still have our mortgage to tackle, but with refinancing to a 15, are well on track to pay that off before Hubs retires. I’m beyond eager to increase our retirement savings. Can’t wait to do so and watch it grow! Congrats on a job well done preparing for your own retirement, and thanks for your words of encouragement!
Paycheck to paycheck for us as well. I never know if he is physically able to work 40,50 or 60 hours in any given week. Thankfully he keeps track daily and submits an invoice on Thursday and gets a check the next day (bi weekly). Then I take most of it away from him…..
Crappy position to be in, isn’t it? At least your hubby does a good job at keeping track of things and keeps you in the loop. Just the other day Hubs was saying to me that he never sees the money he earns. Nor do I. Visa sure does though! Keep plugging away. Life doesn’t (and won’t!) always be this way.
Oh yes… I scrutinize EVERY paycheck. I get paid bi-weekly, so I am constantly evaluating each check. I hold back and then have a pretty decent snowflake to throw at the debt. Every little thing helps!
Rhitter recently posted…On Payday from the Side Job – Final for 2019
We live paycheck to paycheck as well – I find myself paying bills (yesterday) and not wanting to wait 2 weeks for another one. This paycheck is basically all of our “living” expenses and the 2nd paycheck of the month is for debt – we should be a able to send Chase $800 next paycheck brining us down ALMOST to $2,000. I think the thing I do differently than you is I have a hard time not having savings (especially since we lived through 2 lay-offs with ZERO notice) so I do put money in savings every.single.paycheck. I think it is my security blanket – I know it could go to pay off debt (it would pay off the Chase card right now), but I just can’t bring myself to do it.