strategery
I borrowed this word, "strategery" from our current Commander-in-chief, who’s really got a way with language. I’m not sure if I’ll find this word in a dictionary, but I am sure that it describes my game plan for today’s paycheck.
Here’s the situation: I’m losing my current contracting position, imminently, but I don’t know exactly when. For all I know, the last time I KNOW I will get paid will be next Thursday. The name of the game is to be able to take care of my monthly obligations without dipping into the fund I’ve been saving for My Own Home. I usually budget each week’s check to cover the bills which are due in the following week, so that every week, I have money to deposit into my savings account to gain interest. Since it’s getting harder with each passing day to anticipate when my income will end, I’ve decided to take care of as much of the month’s expenses as I can, while I can.
Enter my strategery: I’m paying all of June’s bills with today’s paycheck, with the exception of my contribution to the household expenses and my July 1st car note. This way, if my position ends this month, no matter when it ends this month, my bills for this month will be paid. I will take care of my household expenses and car note with next Thursday’s check. If I have any money left over after that, I can save it. If next Friday is my last day (as I currently suspect it will be, though I have been wrong before), I’ll get paid one more time, have a one week waiting period, and begin to collect unemployment shortly thereafter while I continue to look for a new gig. If next Friday is not my last day, then I’ll just save the remainder of this month’s checks in my expense checking account, ‘cause whenever I am finally laid off, I’ll need the money.
Yay strategery! It got me through college. It’ll get me through "real life," too.
This article is SO timely! I am having the worst time figuring out a budget; how do I budget when I don’t know exactly what money is coming in?
The new job that I got has drastically cut my hours (from 40 to 15) until the person I was was hired to replace, leaves on August 1; I will be getting a second, possibly even a third, job. Even though I knew it was coming I am still finding it really difficult to plan for it. I mean, when you have money you behave a certain way; you don’t have to make sacrifices, you’re doing a little better than just getting by. When you don’t have money you behave differently; you don’t have to do without. BUT, the question is, if I CAN do without, because clearly I can when I am broke, shouldn’t I ALWAYS be living like I am broke? And how do you make a budget around being broke?
Comment by BEN — June 5, 2008 @ 3:34 am