How Do I Handle Financial Bumps in the Road?

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I recently wrote a post on what we are doing to get out from under  the mountain debt  we’ve buried ourselves under.  Well December decided to throw a wrench in our plans. While we were able to pay cash for Christmas, we had some unexpected expenses hit us as well as ‘not paying attention to the budget’ expenses.

What happened?

Vehicle repair $562.00
Root canal $545.00 (that’s not done yet)
Restocking freezers $300.00*
Brick of drum sticks $157.00* , this should have been paid with band income
Apps for hubby’s Christmas present $25.00*
Total unplanned expenses $1,589.00

Now you may think $25.00 is silly to add considering everything else is in the triple digits. I added it because it’s a perfect example of not paying attention to your spending. Spending $2.00 here and $5.00 there is exactly how we blow our budget. At this rate $100.00 will be spent this month on junk instead of lowering our debt.

* Paid with cash that was assigned to pay down credit card. The other 2 expenses had to be put on the card.

Well now what?

Slam the brakes on spending, go back to our budget and rework it. We have added  6 more weeks to our payoff  schedule but it’s ok. I’ll look at the numbers very closely paycheck by paycheck and hold back as much as I can.  In order to keep from running out of cash between pay periods I wont send the money until the following paycheck has been deposited. I always pay the bills directly on their site so the payment is posted right away. I can make as many payments per month that I want.

Don’t give up!

Things will always come up but it’s very important to stay focused on the end game. If you and I weren’t in debt then paying for the car repair or prescriptions you may need wouldn’t be so stressful. Being debt free is exactly that, it’s freedom! Don’t  get discouraged and lose site of your goals. I know more unexpected expenses will come our way during this journey but I also know that we can be successful and so can you!!!

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