Don't know what to do with my *pay* for the month

**Sheila Q** · 10-18-2006, 03:58 PM

Hi,

Ok my dad died three years ago and my brother wanted to *buy* my parents house. What he really wanted was to cash in on the equity bc my dad was a VERY frugal budget wise man who quickly paid his house off and saved saved saved.......need to be more like my daddy........anyways I had my first house at the time and with that type of mortgage we weren't allowed to own any other property so I passed on the house anyways I get for a *rent* check $300 per month. He still owes way over 65k to me but I don't know what to do with my *pay* and it looks like that will be my *pay* for many many more years to come. I don't know how I could feed my dh and I plus our 6 pets for that amount or under. We fortunately have a very cheap meat market with very nice meat for the prices but I just don't know what to do. Should I buy groceries or pay bills or try to save it. I mean that is like the pay of a part time job somewhat. And my cats LOVE to eat. So their food gets pricey especially my girl cat picks but my older boy cat Friskie is 22 pounds of musle and LOVES to eat. My little guy my kitten Taz likes to eat of course not like his older brother

Their food bills alone for all of them can go anywhere from $150 and up. Help!!!

**auntie2many** · 10-18-2006, 04:32 PM

It depends on a few things. If you are in debt, then build up a small emergency fund with the $300 per month and then the emergency fund is built, then start snowballing the credit cards and get them paid in full.

If you do not have any debt, then I would save the money because as soon as you adopt your little one, you will have many more expenses than you do now.

If you can get along with your current budget for groceries and pet food and not use the $300 toward that then you should save the $300.

At least that is what I would do if it were me.

**FrugalMomof3** · 10-18-2006, 04:39 PM

Sheila,

Well so far you've been living fine, so I would put that $300 towards an EF or high interest bearing savings account. Once the baby comes home you will have alot more expenses incurred.

If it were me I would try my best to save it unless I had CC debt, I would pay off debt first then save, either way let us know how you decide, remember it's in your best interest to pay off debt first because once debt is paid off the money you were paying towards it can be saved along with the $300.

Take care and good luck in your decision!