Thursday 13 July 2017

Limping To Payday

We’ve all been there, in that situation where we are trying to just survive until payday. I am in that position, yet it looks as though I will make it.

Not, this payday, of course, but next payday . . . (August 7th). You see, I remain focussed on two payperiods at once, the one that I am in now, and the next one.

My main focus is on the one that I am in now, this is so I stay on track and make sure that I don’t spend too much, so as to do what I need to do, yet balance my budget.

As I have said before, I have certain rules for maintaining my fiscal health. They are: 

1) Keep $1k in my Main Account at all times (This $1k is my Personal Overdraft)
2) Pay off all Credit Card Balances (in full) each payday
3) Put any extra cash that I can into the Mid-Term Account.

There are times when I do put something on a credit card. When I do, I know that I am really stealing from the next payperiod, as that paycheque will have to pay for it.

It is a bit of “Robbing Peter to pay Paul” but it works (sorta). 

I have a spreadsheet attached to my timesheet at work which lets me guestimate what my upcoming paycheque will be like. 

This started years ago and I call it “can I make rent this month” sheet. There is always the depressing feeling when I look at it, at the start of a payperiod.

This is because my bonuses that I earn from online orders haven’t been factored in. 

Due to the number of days in a given payperiod combined with the unknown factor of online orders (neither of which I control) my paycheque is unpredictable. 

Due to the number of days in this current Payperiod I will not make my Budgetary Minimum. 

My Budgetary Minimum is the number that I have set for myself as the minimum amount of take home income needed to make my budget. 

So, unless there are some historically high online sales today and tomorrow (very doubtful) I will not make that number.

The cruel irony is that due to the fact that I have paid my Truck Insurance up front this month, I will still be able to meet my previously stated objectives.

This is because of the cash that had been freed up due to the Truck Insurance Payment that I never made this payperiod.

So this has helped, just not in the way that I had wanted. I will still make the day, and still balance my budget and do what I need to do, just barely.

All that I have to do is not spend a dime that I don’t absolutely have to. (So . . . same old, same old).

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

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