I heard on the news this week that we will receive a $2 Social Security raise for 2017 and that our Medicare premiums will increase by $27. So we will have a net loss of $25. Then I have to assume my supplemental policy premium will increase by somewhere in the $50 range and RX insurance will increase by between $10 to $20. So for 2017 I will have to figure out how to reduce my expenses by at least $100. Of course, property taxes, cost of groceries, car insurance, household insurance and everything else will likely increase as well.
At the end of June I will average all my spending in all budget categories for the first half of 2016 and adjust my budget for the rest of the year. I'm thinking it might make 2017 less painful if I start cutting the projected $100 as much as possible for the rest of this year. At least it will give me ideas on how best to achieve the cuts that will be necessary after the first of the year.
At the end of June I will average all my spending in all budget categories for the first half of 2016 and adjust my budget for the rest of the year. I'm thinking it might make 2017 less painful if I start cutting the projected $100 as much as possible for the rest of this year. At least it will give me ideas on how best to achieve the cuts that will be necessary after the first of the year.