Friday, 20 January 2017

Budget Constraints

Okay, so I got my paycheque yesterday. It was nice and all, but it doesn’t do me any good, because payday is this Sunday and so the check is dated for that day. 

I am sure that if I put my mind to it, I could figure out some little scheme to deposit that cheque early, but I am not that devious or desperate.

What it does do is let me finalize my budget for the upcoming payday, and this is where today’s problem lies. 

This paycheque was less than the minimum amount that I structure my budgets around. It was just a bit short of that, not disastrously short but short regardless.

I had already cut back to minimum on a lot of things to make this work as I had an extra expense to take care of. 

So, this means that I am faced with what to do with this budgetary shortfall. 

I could do the obvious thing and just cut back a little bit on the amount that I intend to pay down on the Wanda Loan. 

The trouble is that I have already done that last payday and this. As it stands I owe that plan an extra two hundred dollars to make up for the cutbacks this month.

I refuse to let this become a pattern or it will seriously derail the plans to become totally debt free this year. 

(Either that or I will have to drain all of my cash reserves to do so . . . no thanks.)

If I cut back any further in my budget than I would have to do something silly like just not replenish my wallets (which I use for daily expenses).

This, however, typically leaves me spending on a credit card or right out of the account to do what I need to do.

I have decided to just run a minor deficit this current budget with the promise to balance the budget next time. 

So, I will dip into my personal overdraft this payperiod but get myself out of my personal overdraft next payperiod.

This is kinda kicking the can down the road a bit, but as long as I make sure to restore balance to my budget and pay back that Overdraft next payday, all is well. 

In fact, that is what that Personal Overdraft is for, to tide me over when small paycheques come in or other large expenses hit me.

The danger in running a deficit budget is that it becomes a habit, or that you just slide into and start living in that overdraft. 

This is why doing this scares me, as I have done this before. I have mended my previous careless and spendthrift ways, however, so this is not that much of a fear, yet a fear nonetheless.

I am only allowing myself to do this because it looks like the next paycheque will be more than my amount that I budget for. 

Again, it is this dance of budgets and financing which allows me to move myself forward, despite what comes my way.

As always: Keep your head up, your attitude positive, and keep moving forward!

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