We fixed the LEAK!!

**mommy4ever** · 05-13-2008, 10:59 AM

Ok, so we realized last month we should have quite abit of extra money left over. We found the leak. Now the dh is on board, he admitted to it, he is a major source of the leakage. The other part(dummy that I am) wasn't a leak, it was my snowball payment..lol. OOOPS.

So anyway, it's only the 13th. There is only 1 bill left to pay for the month(besides the alloted mortgage, grocery, gas, and spending money, and getting puppy spayed), and we have $800 in the bank, we also have 3 more pay periods for dh and 2 for me. I've also prepaid 1 utility bill, and next pay will do the same for 2 more, and continue until I'm completely one month ahead. So that this summer, with vacation time(I don't have paid vacation) our utilities will be paid, plus they tend to be due when I'm away..lol. That'll ease the summer money crunch.

We have spent a little more than we budgetted for, but at the end of the money I'll still have a $1000 snowball(besides the $2900 I already did-tax refund and from income)!

I really do like having dh on board! He's been sticking to $60/week, before it was nothing for him to go through a couple hundred and have no idea where it went. The $60 is for his gas and a little bit for what ever, if he needs more, it's there. We've also done vehicle maintenance, and had some camping expenses we hadn't budgetted for. But I have a padding in our budget for unexpecteds.

With any luck we can continue this trend and really kick some but

all without the major feeling of deprivation.

My income is also set up for the fall, so no major shortcomings like previous summers, just my own vacations!

which is fine.

WOOHOO! I'm very pleased!!

**chevy_chick95** · 05-13-2008, 11:03 AM

congrats!! that is awesome!

**Marie78** · 05-13-2008, 11:04 AM

I'm glad you figured out where the money was going. I am working on my debt snowball too and it gets confusing, because I have the money coming in and I think I can cover an expense that pops up and then I remember it's money I need to put towards debt and then I have to sit down with my budget all over again and rearrange. Maybe it's good when our finances force us to look at them closely and figure out weekly/monthly the best plan, keeps us on our toes

.

**mommy4ever** · 05-13-2008, 11:18 AM

I know that feeling!!! I've done that. Did a snow ball payment to have the transmission need repairs, and have no money to do it!

Dh and I decided to do it a little different. We make the snowball payment at end of the month. We transfer our "alloted" snowball to savings weekly, so don't just blow it. If we have something come up it's there. If not it gets transferred to debt payment. That way we aren't stuck with nothing. During the month we make all the regular payments. All what we decided is the payment, falling payments are now fixed, as to payoff that little bit faster as well. I feel much more comfortable have the snowball sitting there incase something comes up... repair bill, new appliance, etc. We won't need credit. End of month, what is there is snowballed and we start all over again.

Since we have a set amount we're looking at snowballing, if dh has overtime, tax refund or we sell something, etc so we have anything over the alloted snowball savings for the week, I snow ball immediately. Again so it doesn't get spent. We do have a bit of an issue with that. But being aware is a huge step forward.

Maybe setting up something like that will help?

**YankeeMom** · 05-13-2008, 11:24 AM

Glad you found the leak!

I'm interested in why you chose to pay ahead on your utility bill? Isn't that like giving the utility company money to earn free interest on that you could be earning if you banked it rather than pay ahead?

**mommy4ever** · 05-13-2008, 11:27 AM

Yankeemom,

I'm paying ahead because when I'm holidays I'm nowhere able to pay the bills. I don't like giving them ability to earn interest on my money either, but I have so much to do just before holidays it's also one thing less I'll have to worry about. Once holidays are done, I just pay the bill. Also my income is cut in 1/2 during the summer. So we end up short otherwise. I hate being a month behind. Call it foresight on it. Yes I could put the money aside and pay it just before, but it never worked out in the past, this time I'm trying something new.

**Samigirl** · 05-13-2008, 11:40 AM

Great job! It sounds like you have a good system going. I'm kind of doing what you're doing. I'm transferring any extra money into savings. I'll probably wait several months before I put it towards debt. I'd like to see what the economy does. I don't have any CC debt, or else I'd pay that down right away. Keep up the good work!

**VanVivCam** · 05-13-2008, 12:07 PM

That is awesome!

Hubby and I are looking at finances this evening. I am SURE I am the leak/wheel that needs oil. I just have to work EVERYDAY on staying on budget and remembering I am doing this for our FUTURE!