Tuesday, October 29, 2013

Coming to terms with a pay cut

We were struggling with the bills but still making progress when the bad news hit. Pay from my day job is dropping by more than one-third after the first of the year. This would be devastation if it were not for the changes that my family has made. Two changes have had the biggest impact. They are

Dependence
I began the new job last June. Avoiding dependence on the income is one of our wiser financial choices. Losing the income is going to hurt but it's mostly gone on the bills. I would be seriously freaking out if we had grown dependent on the extra income.

Creating space in the budget.
Paying off the bills has been a relief in more ways than one. Once again, I'm giving thanks for having created space in our monthly spending plan by paying off some of the bills. 

Taking the cut is a double edged sword. Although our income is going to be reduced, I still have a day job. This puts me in a better financial position than many Americans. I know that this is a gift and am grateful.

We fell back into the habit of credit cards for a little while but have pretty much climbed out. If those bills hadn't been eliminated, then I would seriously be freaking out about the pay cut. Instead, I'm simply concerned.

Surviving will take some creativity and willpower. I'm not sure how we'll eliminate many more bills. That won't stop me from trying. My family will take it one day at a time and do our best. What other choice is there?

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