
Focusing on Finances in August
My finances have taken a major hit over the past five years. When my wife and I got together in 2019, we paid off $20k in debt and had $10k in the bank in what felt like just a few months. Then she suffered a COVID-related layoff, and we’ve just never recovered. Between both of us changing jobs with a few months of unemployment between positions, as well as rent almost doubling what it was just six years ago, to say we are struggling is a bit of an understatement.
I try not to look back and say what if, but I took a significant pay cut last year when I bet on myself to try and find a better position.
I failed.
Maybe, the stress level is a bit less, but this is one of those cases where things didn’t work out for the better. I’m still applying and trying to make something work, but so far it has not been working in my favor.
The last few months have been difficult. We used up the last of our savings earlier this year, so each month we’ve been buying time with a credit card (which we pay off the next month) just to keep food on the table. Thankfully, outside of my wife’s student loans, we do not have any debt and I’m doing everything in my power to keep it that way.
During the month of July, we took even more drastic measures to cut our finances and for the first time in what feels like a year, I was able to pay off the credit card completely with just my paycheck. This isn’t great news, but as the old saying goes, we aren’t robbing Peter to pay Paul this month. So, it’s definitely an improvement.
With that being said, I am left with very little cash for the month and of course the electric bill is going to be through the roof. The tariffs are kicking in and to try and keep myself sane, I’m going to focus my attention on my finances this month, even more so than usual.
I’ve gone ahead and began cancelling streaming services. Outside of Netflix, I don’t pay for any streaming service at full price, but with Peacock raising the prices it was easy to let it go. We still get it free with ads with our cable subscription (which we are forced to have by our apartment complex) so there is no big loss there.
Paramount Plus also got the axe, along with YouTube Premium. Paramount was prepaid, but YouTube I was paying for so between that and Peacock, I saved around $20. I’d cancel more, but I need to keep the wife entertained. 🙂
To keep from racking up any further expenditures, this week while my wife is out of town, I’m cleaning out the fridge. I’m eating everything I can find inside there that’s still good in an attempt to not spend any money. It’s not exactly how I want to handle my calorie intake, but what can ya do?
I’m also going to make more of an effort to cut back on my soda intake. If there is one thing I spend way too much money on each month, it’s diet soda. It’s my thing. I don’t drink coffee or beer, but I love Coke Zero or Diet Pepsi. I only shop for whatever is on sale, but it still adds up when you consume as much as I do. So, not only will it be good for my wallet, but also for my kidneys.
I won’t be heading to the movies or attending any sporting events this month. There will be no purchasing of video games or new movies. No random items on Amazon. And as much as it stinks, I’ll accompany my wife to BJs or Walmart (if she happens to go there) because that is the only way to keep her from going a bit overboard. I’m not calling her out, she’ll tell you that herself.
I don’t know why I’m sharing all of this, I guess I feel like if I put it in writing and share it with the world, I’ll better stick to it.