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Here's where the rubber meets the road!

45K views 378 replies 70 participants last post by  joyofsix 
#1 ·
The stockpile is in place, the EF is doing better than it ever has. The snowball has been rolled forward.. and the layoff slip came in today.

So now it's time to see how all of this works out.

Wierd attitude probably, but silver linings and all that.

In theory he'll be off work until August 15th and then will go back to work full time.

So essentially we're going to lose approximately $1800 over 6 weeks in income.

I'm starting this thread because I intend to keep track of the parts of the frugality plan that work, the parts that need work, and the parts that I never even thought of.
 
#2 ·
Thanks for keeping us posted. You can prepare all you want to, but there is always surprises. Best of luck to you and your family. It sounds as if you have prepared well and have a good attitude.
 
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#3 ·
So sorry this has happened, BUT you have prepared yourself to the best of your ability AND you know when he will go back to work. I would look for additional ways to stretch the budget, put off any and all purchases possible, etc. until hubby goes back to work.

Keep us posted!
 
#4 ·
You did a wonderful job preparing. Keep in mind that it's also a good idea to take advantage of whatever goods and services might be available to you. For example I have a friend who was able to get home repairs done free as she is now on only disability. We're here if you need us...
 
#7 · (Edited)
Thanks everyone. The situation isn't as dire for us as it would be for most others. In our lives, this just happens occassionally. It's the nature of his job, which is specialized construction and pipe work. The difference is.. this time thanks to all you FVers we have a plan. Before we just kinda winged it.

So there is less desperation, and more examination of the effectiveness of our new plans about this. I figured that it'll be easier to spot the weaknesses, or even the "over-prepared" spots in our prep plans if I keep an accurate track and tally. That will help us refine our plans for the next time. Because for us there will always be a next time.

So here's the "planned budget" for the next month. Facts are in Red, estimations are in green.

Current situation.. $5576 in savings
-1550 July house payment
-155 eye surgery payment
-65 car insurance

leaves a balance of $3806 in savings
+$900 todays check
leaves $4706

minus projected bills of $520 for July

leaves $4186

+ $600/wk unemployment

projected end balance as of July 30 $6586

minus $1770 house payment, eye surgery, and insurance (August)

minus $1140 general bills (August)
leaves theoretically $3676 still in savings when he returns to work, but no bills due until september.

Question: Better to double pay all the bills in advance ( you know they're paid), or wait and pay them as they arrive (preserving your liquidity cash-wise)?
 
#20 ·
You've done a great job of preparing for this!


Question: Better to double pay all the bills in advance ( you know they're paid), or wait and pay them as they arrive (preserving your liquidity cash-wise)?

I would pay them as they are due. Most times with loans, a monthly mortage payment for example, you must make a payment each month. Making a double payment at once is just paying extra, but you still must make another payment the next month.

Good luck and keep up the good work!
 
#10 ·
WOW! I know you'll be fine. You already know frugality, so you've got an edge compared to so many that this hits unprepared. Good luck to you & I look fwd to reading your story!!!
 
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#11 ·
Good luck. The money will go faster than you expect.
 
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#12 · (Edited)
That's what I'm worried about...

I mean there are quite a few expenses not accounted for in that budget, but there is a seperat budget planned for "fun".

We've got about $1500 just for taking trips, having a picnic, garage saling etc.

In a perfect world this ends up being a long vacation-y thing.
 
#13 ·
I'm so glad you are prepared! We had dh laid off Oct to mid Feb with a 3 month ef. We squeaked through without needing much of it because like you we were prepared. You'll do great!!!

I have to snicker just a bit because we made it though a layoff not touching the ef but have went through all but 1 months in the last 8 weeks. Funny how things work.


I'd pay the bills while they arrive. Enjoy your extra time together!
 
#15 ·
Preserve the liquidity - that's my vote.

I am so glad that you are taking us along on your journey too - so we can support you through and learn with you.

Am very impressed with your planning!! Take care!!
 
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#16 ·
All of us at the Village know you can do this and we are behind you every step of the way. Best of luck and keep a good attitude and that will carry you a long way. :listen:

Monner :wave2:
 
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#17 ·
I second being impressed by your plan! You are very prepared. Congratulations for that!

My hubby is laid off each year and we've always struggled the last several weeks...this year was an extended layoff this spring and it hurt us badly. I never want to do that again!

Thanks so much for sharing your experience. I learn so much from all of you! :)
 
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#18 ·
It sounds like you're well prepared for this "down time". Keep us updated on how it goes.
 
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#19 ·
Sunday June 28th..wee hours o' the mornin'

Well DH and I finished the first "when you have some time off" project over the weekend!

DD's room has been re-painted, new bed, another dresser, installed three new shelves. (is there no limit to how many clothes teen aged girls have?! Where DO they all come from?)

Paint $7
Twin bed trundle frame and 2 mattresses $20
Solid wood antique bureau (sp?) $30
Set of 3 walnut harwood shelves with wrought iron brackets $4

Total cost $61... you gotta love yard sales!

Still we're going to have to slow down, or I can see where we'll run through our "fun money" too quickly..
 
#21 ·
Great job shopping those yard sales. I bet you DD loves her "new" room. :thumb:
 
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#24 ·
so sorry this has happened being prepared helped us.... I was out 4 weeks after surgery granted I knew it was comeing so I had paid the mortage and car ahead the stock pile was great dh only shopped for the fresh foods needed and we planned meals from the freezer. hope everything works out for you
 
#26 ·
Sounds like you are looking at this as an adventure rather than a hardship, and that is a fabulous attitude to take!

I also like the fact that you have a plan to stay constructive during the lay-off period.

I really look forward to reading more of your journey!
 
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#27 · (Edited)
Tuesday afternoon June 30th..

House payment for July PAID $1534 regular payment
+$50 extra on principle

Paid gas bill ahead... actual bill $20.14. paid $100. Should be paid for at least the next 3 months. Decided to pay the smaller bills ahead, and wait and see with the larger ones.

Saved up enough points on a program through DH's work to get a free costco membership.

Taking a short (2 day) road trip to see my parents on the other end of the state. We'll see how much this costs... but I really miss them. There's just something wrong with not seeing your parents for 7 months...

So we did all the regular car maintenance.. cap, rotor, oil change, new upper heater hose, new serpentine belt. Cost $66, time 80 minutes. Better for the road trip, and now we don't need to do again for quite a while. One more "when we get time" project completed.
 
#28 ·
Happy Fourth of July!

Ok, just barely...

Back from my parents and the trip didn't cost us as much as we thought it would! Hurray!

$75 gas
$23 food

Usually when we go see them we all end up going out to all these different places like the aquarium, or restaurants, etc. But this time I told my mom I'd rather just hang out with them and talk.

She was as happy as I was not to do the "entertaining us" gig. We talked all day and long into the night.. and it was so much more relaxed, no who's riding in which car rodeo, no who's paying the check chest thumping. It was like it was a long (and I do mean a LONG) time ago when I used to pop home from college for the weekend.

Frugal can be fun!

Got a lead on a really good car while we were there too. A 2003 Toyota Echo for $4000. They usually go for between $7000 and $11,000 for that year used. We've always wanted one (they get gas mileage in the 40-45 mpg range!), and since DD is 16 now we'll need another car so that she can have our little Ford Escort (31 mpg).

We've gotten the guy ( a family friend) to give us a month before he offers it to anyone else... we'll see where we are then, but fingers crossed!

Next project on our "when we've got time" list.. refurbishing our old wheelbarrow. We got it disassembled and the outside cleaned of all paint and corrosion with a metal brush wheel on a grinder today.
 
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