WHY WE DREAD HOLIDAY MONTHS!
Monthly Reduced Income - We are dealing it!
This is the first year that we both are dealing with irregular incomes. This is because we both have jobs that do not pay for holidays. I always took for granted that all normal federal holidays are paid since I've never had a job that did not have holiday pay. The things we take for granted, huh? :)
In addition to Thanksgiving and Christmas holidays not being paid, Koa has had to go for his apprenticeship training that happens quarterly, which is also not paid. Since he is the main income earner currently, this hit us hard. We are able to cover all our bills but we unfortunately had to slow down our debt repayment schedule.
This reminds us again of how important it is to have an emergency fund. If we were not able to pay all our regular bills, it would be frustrating to have to fall back on credit cards once again. We have so far $600 saved up in our emergency fund with ally invest that is nowhere close to our goal of $25,000 emergency savings. Currently, the focus is on the debt repayments and the emergency savings has slowed down to $100 per month.
One good thing came out of November though... Koa got a nice raise for completing his second period of the apprenticeship. Any raise is welcome to us!
November fails also happened....we did not cook at home as much and therefore, we went over our budget for eating out and entertainment. The budget for eating out and entertainment need to be revisited to make some allowances since we did promise to ourselves that we will be honest with ourselves and our spending habits. This means giving ourselves a little more budget than the $12.50 per week for eating out category and $25 per week for entertainment category (This is for Both of us combined...so yeah, we were a little too unrealistic for us).
Time to get back onto the wagon!
Also, December will be a tough month a little too as we will be trying to catch up with our debt repayments and November fails. I keep telling myself that we can do it and that its ok to forgive ourselves for messing up along the way. We SET a plan and we will continue to see it through the end!
Anyone else had any mess ups along their journeys?