About to take a big pay cut.

[Shell]

Hello fellow frugalites. I am about to take a big cut in pay in two weeks. I am so glad that I learned from my last money famine! This time I am a little wiser and a little better prepared.

This time my credit cards and car will all be paid off. This time I have some money put away in my emergency fund account. This time all my bills are all paid up. My pantry is still stocked as last time. That is always a relief. I have also bought almost all of my Christmas gifts ahead of time and I still have lots of wrapping paper stocked away from the last couple of years.

It will be a lot tougher having such a small paycheque but I sure have learned a lot of frugal techniques and skills that I am proud of.

Yes, there will be a big cut in pay but . . .this time I am wiser and more prepared!!!

[Sara Noel]

Is the paycut temporary? How long do you need to go through the cut in pay?

[Guest1]

Originally posted by smnoel
Is the paycut temporary? How long do you need to go through the cut in pay?

Did this just come out of the blue?!?!

[Darlene]

Sorry about the cut, but good for you with being prepared Shell!
Hope this is just a ripple in the pond.

[thrifty gal]

Congratulations on being prepared! Sounds to me like you are ready. WTG!

[guest2]

I'm so glad you are prepared!!! Praying that this cut in pay will not last too long for you!

[Shell]

No, this pay cut will be not be temporary. Just a fact of life. But, I am so much better with my money now and learned lots of frugal skills over that last few years. I guess this will help me use some of the skills I have been reading about and working on.

[homesteadmamma]

Shell sorry to hear about the pay cut. I'm glad your far better prepared for it.

[Shell]

Thanks.

[Shell]

I was thinking of some of the skills that I have learned over the years that have really prepared me. While you have a regular paycheque do everything you can to pay off those nasty credit cards. CUT THEM UP! When you are paying a minimum payment here and a minimum payment there it is adding up. Get rid of them.

I am also a lot better prepared. I now have a toddler. I learned from the Tightward Gazette about getting clothes (from friends, garage sales & second hand stores) way a head of time and putting them in boxes with correct sizes written on them. My daughter dresses very well but I don't spend that much on her clothes.

I've learned some skills in leftovers. We had roasted chicken last night (on sale) tonight we ate homemade chicken pot-pie (dh went for seconds) and tomorrow I will make a wonderful chicken broth and freeze it.

I've learned shopping should NOT be a hobby.

We have a rule in this house. We don't buy anything new until everything else is paid for! That way we don't run up debt.

I've learned, "Happy is the man who is statisfied with what he has." Don't try to keep up with the Jones' you wouldn't want to see their credit card bill.

I've learned to use less. Less soap, less toothpaste, you get the idea.

Save for a rainy day. Oh I am so grateful I've learned this skill. Any of you who have been reading the Emergency Fund challenge know how important this is to me. I have been saving for years now and it has finally paid off. I am not going to touch this money if I can help it.

Now, there are a few things I am going to work on. One of this is books. Just love to read them! OK Shell you better head over to the library or the used book store if you want to keep up on your reading!

[rebecca]

Shell sorry for your paycut, but it sounds like you are doing great in keeping ahead of your bills and being wise with your spending and cooking. Doesn't it feel good to save for a rainy day? I have an Emergency fund and a savings account and when that stinky rainy day comes it feels good that you have one so you don't have to pay peter to pay paul. You are doing great! Keep up the great work. Renee

[DaisyLady]

Shell, that is too bad about the pay cut but it is great that you are so prepared. I wish that I had not been so careless when DH and I were both making high salaries. But hindsight is perfect vision. At least now I know better.

Love that Tightwad Gazette!

[QuilterMom]

Sorry to hear about the paycut Shell, but you are well prepared and I applaud you for that!

[Shell]

Thank you for your support. I will just have to be even more careful then before. I try turning down the heat but dh just keeps putting it up. We have wood floors on the main floor and it sure does makes it colder.

I am not sure how many hundreds of dollars my cheque will go down but I'll keep you posted about how I am doing. It is a good thing that I am not doing Christmas dinner this year.

Another good thing is I have been stocking up on tp, paper towel, toothpaste, cleaning supplies etc for years now. This can really save you a lot of money on your grocery bill.

Of yes, I have been putting away money monthly into my RRSP all year so I hope to have a nice tax refund (and lock it up of course!)

[PrairieRose]

Shell, I'm really sorry to hear about the paycut. It's such a huge blessing that you're prepared, mentally and fiscally for this one. It's amazing how a little control of one's actions can give you such peace in times that would have otherwise been soooooo stressful, isn't it?