Wednesday, May 30, 2012

When expenses exceed income




I am a little ashamed to admit my budget has gone out the window lately. I have been sick which has meant lots of Dr’s visits, medical tests and things to find out what is wrong with me. My daughter was diagnosed with a severe learning delay and needs speech therapy as well as some other tests, which is costing a lot.

Then of course with me being sick I don’t always have meals prepared and a little take away has snuck in, as well as more convenience foods, which has increased the cost of my groceries.

Back in February I did a money makeover on my other blog, focusing each day on one aspect of the budget and how we could make or save money from it. I realized this week I need to revisit that myself and do everything I suggested in there.

You see, not only has the budget been blown, but the extra expenses I now have are more than I am making on a regular basis. Some of my income is sporadic and there is no knowing how much I will make week to week. So far I have made it through and money has always come when I needed it, but I hate living like that. Worrying if I will have enough money each week.

I try not to focus on the negative and that I won’t have enough money because every time I have done that it has come true. That is whenever I have looked at my expenses and thought “I’ll never be able to pay all of this” I end up not being able to afford my expenses. Instead I prefer to look at it like this “I will make an extra $500 a fortnight” and then proceed to find ways to make more money.

I have been selling more things which has helped and I have other things which would make us money I have put off doing, but now I am going to do it and be good at it. I can cover all my expenses, even if it doesn’t look like it right now, I will make more money.

What do you do when your expenses outweigh your income? 

5 comments :

  1. I like how your looking at it “I will make an extra $500 a fortnight” It all comes back to positive thinking - I'm going to try it too.


    This fortnight I'm going to make an extra $100!

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  2. Its always quicker to make $500 than save $500 for me (very tight budget). So I usually try to get extra work temp and I'm signed up to a temp agency. This works well combined with a strict budget of needs vs wants. Short term pain for long term gain

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  3. I am sorry to hear about your sickness and your daughters learning delay. I hope those speech lessons work out. I also hope you feeling much better.

    The whole thing with not being paid has to be totally scary and painstaking. I work for a startup and sometimes payday comes a week to 2 weeks late. But those bill payments dont stop or get delayed. I don't make enough to save so I have to figure out ways to pay those bills until my money comes in.

    Life can be very trick at times.

    Stay positive

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  4. @Melissa, how did you go with your $100
    @WTAUL - That's a great idea.
    @Ryan - Thanks. It was scary not being paid and the medical issues have been frustrating, but things are improving. :)

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