Trying to Make a Doller Out of 15 Cents

I know my posts have been sporadic lately, but as you know I have been going through some things at work. To catch everyone up I have been demoted at work and had to take a 2.15% pay cut AND my hours have been cut back by 2.5 per week.

I decided I could either get mad or get productive. I decided to get productive (I got mad too.)

1. Come up with a new budget
I am going to have to learn how to survive on $1660 compared to $2100.

I deferred my federal loan for a year - Saving $180 a month.

2. Get a part time job
So far no luck, but a new store, pharmacy, and supermarket are opening near my current
job.

3. Find ways to lower variable bills
I turned down the thermostat to 72 and don't turn in lights unless I am reading.

I am continuing to save, I am going to try to maintain my goal of $100 a month (but no less than $50).

I'm undecided on what I am going to do about acquiring new skills so I can get a new job. I've been told I can get books and teach myself the software. Has anyone tried this? How effective is it?

After everything that has happened to me in the past month I have been giving some serious thought to starting my own business. It is something I have wanted to do for a long time but never did. I know we are in the middle of a horrific economy, but many businesses started during the Great Depression.

It's something to think about.

Refund !!!!!!!!!

I just got my tax return back from my accountant, I am getting a refund of $996. Sometimes I wish I was still in school, I could have used that credit.

The question is.....do I have fun with the money or do I use it to pay a bill?

Of course, that money is going to complete the repairs on my car ($650). That leaves me with $346, I'll take that and put it toward paying off my Amex card.

If only I had been responsible in my youth, I could have taken this money and put it toward my trip to New York or something fun. Oh well, live and learn.

Time to Pay Bills

I know this is late, but here was my cash flow from the 13th

Pay Check 1 - $1000

Sallie Mae - $556
Amex - $111
Visa - 85
Taxes - $40
Savings - $50

Total - $848

This left me with $158 for for the next 2 weeks. I bought gas, cat food & litter, groceries and miscellaneous.

I have $90 left over and I am going to try to not spend money between now and Friday. If I make it I am going to snowball that $90 to a credit card payment.

I get paid this Friday and here is where my money is going to go.

Paycheck 2 - $950 (This is an estimate, I don't know what my paychecks will look like now)

Student Loan - $181
Electric - $167
Cable - $150
Cell - $75
Savings - $50
Visa - $100
Visa - 100
Ex Boyfriend - $50

Total - $873

Left Over - 77

I am going to have to find a way to stretch out that $77 for 2 weeks.

Goal Update

When I first started this blog I gave myself 5 goals.

• Pay off 2 credit cards
• Open Savings Account
• Save $600
• Pay Back Ex Boyfriend
• Pay Back Sister

Here is how I am doing

1. Pay off 2 credit cards - 50% Done

Between my tax refund and my "free check" in June (if I still have a job) I should have a
second one paid off by July.

2. Open Saving Account - Done

I opened an Ing account and have budgeted $50 per pay check to be deposited in the
account. I also have a Way2Save account with my bank that puts $1 in a savings account
every time I use my check card.

3. Save $600 - 25% Done

I should reach this goal in 9 pay periods (June 26th).

4. Pay Back Ex Boyfriend - 50% Done

I owe him $200. I should have this paid off by April

5. Pay Back Sister - 0% Done

I plan to start paying her back once I am done paying back Ex Boyfriend

All in all, not bad considering it's February.

New Followers

WOW.

While I was gone I got 4 new followers.

Welcome Preppy Little Dress, Budget Bella, Beach Girl, and Casey.

I look forward to visiting your blogs.

It's Been a Long Time, I Shouldn't Left You, Without an Update to Move You

I'm Back.

Update:

I have been demoted at my job, which means I am taking a reduction in my pay. I should be upset, but in this day and age I am glad to still have a job.

I now have to readjust my budget for my new lower salary. Time to tighten my belt.

I have done some research into my action plan and this is my status so far

1. Find a part time job - Looking
2. Look for a new full time job - On hold until I learn Photoshop, Illustrator, and In Design
3. Add to my skills - Penn Foster offers certifications with low monthly payments
4. Find other ways to make money - I have been making a bag for my manager as a gift and
one of my co-workers ordered one. I also plan to open an online shop and see if I can sell
some of the bags I have made.
5. Continue to pay debt - Rework budget so I can continue to pay off credit cards.

I'll keep you posted.

M.I.A.

Sorry for my recent absence. I've been having problems at work that if they persist I may join the unemployed masses. It makes me mad because what's going on is not all my fault but I am the one getting all of the discipline. Don't you hate it when other people get you in trouble.

This is why you must have an emergency fund and a plan for if you loose your job. I don't have an emergency fund but I can get out of paying most of my credit cards. A while back I signed up for a program that would pay my minimum payments if I ever loose my job. And to think I was about to cancel it. My federal student loans are easy, I can always file for deferment or forbearance. I am worried about my Sallie Mae student loan, they don't work with you at all, but you can't get blood from a stone.

My Plan

1. Find a part time job - In case I loose my primary job I will have some income coming in.
2. Look for a new full time job - Self explanatory
   
3. Add to my skills - Jobs in my field require knowledge of Photoshop, Illustrator, and In Design. I can use this time to take classes (Pay cash of course)
4. Find other ways to make money - I have a degree in Fashion Design & Merchandising. I learned how to sew and make patterns. I make handbags and pillows as a hobby, maybe I can make money from them.
5. Continue to pay debt, but maybe save more and pay the minimums.

What do you guys think?