Thursday, April 7, 2011

Remain Calm and Keep Moving Forward

As I'm sure everyone in the United States is aware, tomorrow at midnight is the big deadline for the Congressional decision regarding budgets. You can check any news source and it's on the front page, right there for us ALL to freak out about (msnbc, cnn, foxnews, military times, navy times, army times, marines times, airforce times..). I am freaked out about it, it's hard not to be. You can be as calm, cool and collected as you want to be on the outside, but I am a mess on the inside. It's hard to understand exactly what is going on since each news source is different. It's hard to decipher fact from rumor.

We haven't always made the best financial decisions in our marriage, and we were finally coming to a point where we were. Thanks to the Navy's steady pay, housing allowance and medical care, we were able to make headway on our debts and actually have a savings account. Then, as it always works when you have extra money, our car broke and we had to dip into our savings to fix it.

Now as this deadline looms over our heads, I can only think about what happens next. From what I understand, if there is a shutdown we will get paid for 1 week. OK, so we that means we will have (with our savings) 1 whole paycheck. Great.. until I remember that means our savings is drained. It was also brought to my attention that the Navy-Marine Corps Relief Society will still be up and running to help those in need (click the site to find out information about taking out an interest free loan if needed, $300 – Individual and $600 – Family). I'm not saying it's an ideal situation to have to take out a loan just to get by, but if you have to provide for your family you have to do it.

Other suggestions I have seen thrown around is asking your church for assistance, borrowing from parents, holding a garage sale, and using credit cards. These are all only suggestions and it's for you to decide how you need to provide for your family.

I'd like to take this opportunity to make this a lesson for our family. I need to live more frugally. I need to stop spending extra money and put it away for a rainy day. I need to learn to stretch our food budget. Remember my post about the world ending? Well because of that fear, I stocked up on a few essentials to get us through.

I am currently looking for frugal ladies and gentlemen to volunteer to be a guest blogger for me, regarding living frugal.

I would also like to say; try not to panic. You will be able to provide for your family, you will just have to stretch and pull in ways you didn't think you could. I understand how hard it might be, but you can do it. {I know, easier said than done}


The Sometimes Single Mom said...

Check out Dave Ramsey (if you go to the "we're debt free" board on, it breaks everything down by the baby-step)

The Sometimes Single Mom said...

p.s. i'd totally do a guest post on becoming debt free by Dave's way =)

Pamela said...

Another vote for Dave Ramsey and Financial Peace University! During the last class (13 weeks), we were able to set up an Emergency Fund of $1000 - it wasn't easy, it took almost the entire 13 week session for us to get it together but we did it - and we live by the cash-only envelope system and a zero-based budget. Every dollar has a name and when the envelope is empty, the spending stops. We haven't always made the best financial decisions, either, but we have a good foundation now to work together and go forward to Financial Peace!

RamirezFamily said...

There are so many ways to save. The one I love is take back to money you hand to others. Meaning things like cell phones, internet, cable. Things that you do not HAVE to have. Cell phones for one thing they are great and most people do need them. However most pay way to much for them and have no idea that they can pay 45 a month for unlimited everything through a company called straight talk. Might not be good for those who are on a large family plan. More just for couples. Cable, if you live in the city its so easy to just not have cable as long as you have an HDTV you can pull sometimes 30 channels for free. I still never miss any of my shows! However I do miss TLC a LOT! hehe Honestly though I would much rather live without it and be able to purchase my own house some day. :) You give and take from where you can and never live with in your means live BELOW your means. Just because those means can change in an instant.

Sarah said...

My husband thinks I am crazy because I am a money hoarder, and I'm always talking about a "rainy day". We have enough to live for 6 months at the level we are living now without pay before we run out of savings. Well, it's definitely raining now!!!! Saving money is so important, and I realize that a lot of the military community just doesn't have the means to save. It's reality and it's super shitty that congress and the gov't is asking those who already sacrifice so much, to sacrifice even more. This SUCKS. It's awful, there's nothing good about it. My heart goes out to all the military families who will have trouble making ends meet until this mess comes together. I know there will be a ton of them. I wish congress would truly understand what this decision means for us.

♥Miss Brittney♥ said...

I am freaking out about this! With me working more and our income tax return we were able to build up a little savings. Then we decided to move out of military housing into an apartment so we could save on rent every month. Doing the actual move was pretty expensive, and now our savings is drained. My paycheck isn't enough to cover our bills and we really need my husbands paycheck on the 15th...I wish the people in washington would stop fighting about the budget and just compromise already so the men and women who serve our country can actually get paid!!! Its ridiculous that they would ever even consider not paying the service members, especially after all they and their families sacrifice!!!

Pamela said...

That's awesome, Sarah, to have a 6 month emergency fund built up!

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