|
|
|
January 6th, 2009
04:58 pm - A look at my finances
I hadn't updated my finances spreadsheet in some time, so I did it during the day today to take a look at my outlook, and it's not encouraging.
Right now, I'm behind on the credit card I use for basic necessities, even after cutting way back. Turns out a few things too many came up, and with barely enough money to manage the bills, I just didn't make two or three planned weekly payments.
So I figured that some full paychecks would cover the gap, and that if I finished January with a good surplus, I could pay that balance away.
But an analysis reveals a problem. Assuming that I resume weekly credit card payments this week (to the card covering my food and miscellaneous expenses), plus medical insurance, plus at least one payment on my other consolidated balance to keep it current, plus my student loan payment, plus a monthly scheduled savings deposit, plus rent and cable internet... with no adjustment, I land perilously in the red on February 1, about $250-300 in the red (I do not and will not account for delays in depositing checks I write, because I've seen just as many deposits drop in a day as I've seen drop in two weeks).
A paycheck that roughly drops on 2-5-09 would get me back in the black. But then next month we repeat the process, and on March 1, I land about $315 in the red. Another check on 3-5-09 gets me back in the black, but you can already see where this is going. Even if April leaves me less in the red, it's a vicious cycle.
I could just forget about saving and move my savings deposits back into checking right before paying rent, but that still leaves a gap during January. However, part of my expenses include those weekly voluntary credit card payments ($100 a week, per my weekly budget): I could simply delay in making the one that coincides with the 1st week of the month until that next check drops. That keeps things in the black with the requisite gerrymandering.
However, something needs to give. Getting a raise doesn't improve things because fundamental problems remain. If I need to make a major dietary change, never go out or eat out again, and eat nothing but cheap crap bought at the supermarket, then I should do it. I can't guarantee a significant reduction in weekly expenses since things always come up, but I see no reason why I can't reduce $40-60 a week from my expenses. Such a lifestyle reduction, however, doesn't do anything other than provide a slight cushion each month, perhaps allow me to save. The margin for error remains rather small.
If I had to get a 2nd job for nights and weekends, I would do it, and such an income, even as little as $100 a week, would likely solve the problem at once. I would much rather do that, but you can't control the market, and obviously it's a bit bare right now.
It's possible I could get a tax refund from the IRS and that the key could be just to sit tight and ride out the next 4 months until that drops. But with so many partial workweeks in 2008, it's possible I may owe money despite my student loan interest deduction. My employer pulls so little in taxes during the low weeks that cumulatively, the IRS may see a shortage. I could just as easily do my taxes and find out I owe them $200. And again, a lump sum doesn't offset the fundamental budget problem.
I still get debt consolidation offers with basement introductory rates that last nearly a year. I may need to pick the best one and shift my consolidated debt back over, plus probably pile on the $300-400 I accrued on my weekly expense card, where it can all sit at 0-1% for the next 6-9 months. If I cull my weekly expenses to the bone and tightly monitor every act of spending, I can probably manage, and even save.
Obviously, I now need to cut the crap with my budget and get serious. I probably will stay in on the weekends, maybe go for walks or spend time at the bookstore in U Village. I just need to make sure I have enough to eat, and good food at that.
And as much as I'd rather not, I may look into moving. My apartment itself is bleh but the location is great and it's a comfortable place for me. It's also below median rent, but I think I can do better. HRG comes most quickly to mind. I'm "poor" enough that I would qualify.
Once you move, however, you accrue additional expenses in deposits, moving costs and such that I may not have the money for. I have enough of a positive rental history that I won't need to pay first/last/deposit: only first and deposit. But the other costs would provide the risk.
I'm still going to live alone if I can help it due to my tolerance for roommate bullshit, which is equal to zero. I simply cannot tolerate someone not paying their bills, leaving a mess or keeping deadbeat company that they bring over to play. If HRG has sufficient 1-bed openings, the average one would provide a discount over my current arrangement. Location would be the only issue.
All this ignores the possibility that my current apartment manager may try to screw me with repair charges upon move-out. So many do, and I only have so much documented evidence.
But we're still in the speculative stage. Currently, I'm going to head home, eat an early meal and do some research.
|
Comments:
![[User Picture]](http://l-userpic.livejournal.com/79899057/822473) | | From: | ![[info]](http://l-stat.livejournal.com/img/userinfo.gif) mcfnord |
|---|
| Date: | January 7th, 2009 10:27 am (UTC) |
|---|
| | | (Link) |
|
no financial risk exposure from me! no deadbeats, and we have a housekeeper budget. there must be more to your roommate prohibition, because that there is just jerk prohibition.
Two things.
- Your landlord is a total deadbeat who breaks things and/or refuses to fix things in a timely manner, and that's only the problems you made me aware of.
- You admitted to me that, once you get a 2nd tenant to go with Noodles, that you're bailing on this arrangement sooner rather than later.
And then this condescending horseshit comment, like you never mentioned this shit to me ever. Like this isn't indicative of why I don't live with roommates anymore.
| | From: | mcfnord |
|---|
| Date: | January 8th, 2009 05:59 am (UTC) |
|---|
| | | (Link) |
|
what's broken? nothing is broken. everything is fixed. i had to do it myself but it's done.
bailing... where will i go? back to my house? unlikely. the fact that I could bail if things go south was my point. but things are going north with some speed lately. just watch, i'll be in the same spot in a year.
other people are complicated, but i'm glad i pay ~$/mo for housing!
![[User Picture]](http://l-userpic.livejournal.com/82736471/541169) | | From: | strand |
|---|
| Date: | January 10th, 2009 01:10 am (UTC) |
|---|
| | | (Link) |
|
iawtc |
|
