Praise the Lord and Pass the Wine. (Priority Budget for Unpredictable Income)

crack-in-everything

Months.

I’ve been telling everyone and their dog for months that Mr. Brickie would be working any month week day now.

“Soon,” was a constant refrain.

Hope a word used so much it became meaningless.

Faith like a childhood stuffed bunny’s ear rubbed through with worry.

But…it paid off. It happened. He went back to work Friday before last (right before my birthday – happy birthday to me!) and is doing great. Actually, truth be told it’s more than great. He starts working 10 hour days today and the idea of working Saturdays has been broached. So he might work 56 hours this week. Overtime would be a game-changer in terms of financial security. So much of a game-changer I’m willing to use that term which is so not one I would normally use. 

I’ll stop doing my “I wasn’t proven wrong by the universe” dance soon and get to the nitty-gritty of dealing with actual income in a hot minute. In the meantime, thank you for your patience with my outbursts and my joy and my palpable relief at things finally turning around. I’m not a person who is ever truly sure about anything (because I’m a realist) and so this happening was something I honestly almost didn’t expect because I might tell you I’m a realist but really I’m a bit of an Eyeore now and then.

Hope for the best, prepare for the worst is a DEPRESSING, HORRIBLE WAY TO LIVE. I wish someone had told me that before I jumped into that rabbit-hole headfirst, for sure. The preparation takes over everything and the hope becomes this small light across the lake on a dock trying to convince you of something that isn’t even real.

Now, on to some budgeting specifics!

We ended the off season with credit card debt, student loan debt, and car debt. The credit card debt is new. I’m not proud of it but I don’t regret it, either. I’m basically credit card neutral at this point. Yes, we could fall into a hole and be stuck there forever and I could also get abducted by aliens and butt probed. We just have to pick our worry battles, now, don’t we?

Irregular Budgeting for Large Bills and Small Income

There is a snazzy blog post on how to budget with irregular income over here. I plan on using a variation on this budget to pay down/off the bills that we accumulated over the winter.

It’s going to go a little something like this. Since I know what bills are due when I can kind of make a list of what to pay off based on priority as well as amount plus a little bit of foreknowledge. For example, I’d love to be able to pay the car insurance in one chunk instead of splitting it into payments. That means trying to free up about $500 on the credit card by August 10th-ish. So, when you see the line item down there about throwing money onto the Credit Card.

Here is what my payoff list looks like:

  1. Pay $120 on CC to cover automatic payment of tolls. (Already done.)
  2. Pay minimums on Macy’s, Kohl’s, and Walmart ($75 total) & Pay off Target card ($18.29) (Did it today aka Payday Wednesday.)
  3. Pay past-due amounts on Electric and Gas bill. Pay current garbage bill. ($240) (I want to do this today but am afraid with overtime we might need more-than-normal amount of gas cash on hand so waiting until next Wednesday.) 
  4. Pay the car payment. ($496)
  5. Pay the CRAP out of the CC to get down the balance. (Car insurance auto bills to this card on August 15th for around $461.)

The incoming for the rest of the month including what’s in the bank right now is going to be around

Of course, Mr. Brickie’s first raise is going to go through this month so there could be more money. *shrug* I’m not counting on it because this whole journey has been about baby steps and not jumping the gun.

The best-case “I don’t know how to calculate taxes and union dues on overtime money” incoming cash scenario this month is probably $3400. I’m 100% sure this is wrong. I calculated the base pay and then multiplied the projected overtime and subtracted $100 for tax off the overtime of this week since he just started working overtime today (Wednesday) and for the projected two weeks I took off $200 from the projected 20 hours of overtime per week because why not?

So, obviously, when you have hinky numbers you don’t rely on them. This is why I’m doing payments the way I am instead of breaking out the traditional by-due-date spreadsheet. Hinky numbers can spell disaster and overdraft fees if you trust them!

If I subtract 40% off the overtime- which may or may not be accurate – we get a more reasonable $2250.

Ultimately we won’t know until we see it in the bank account. I’ve tried to crack the math on his checks for the last year. I just haven’t been able to figure it out yet. Enough paychecks and I’ll get there but by that time he could get a raise and it changes. *shrug* I’m not sure it’s even worth the effort anymore.

Rain days could also change the bottom line drastically. Monday night there was a storm or rain or something overnight and I woke up in a cold sweat like I was having a night terror – sitting straight up in bed with my eyes wide open – and couldn’t fall back to sleep until I checked the weather in the area where Mr. Brickie is working. Maybe more chamomile tea before bed and less coffee would help with that. I creeped myself out.

You probably noticed the house payment isn’t on there. Yeah. We’re in the middle of court stuff. Payments wouldn’t be accepted at this time and we’re not in a position to put that money into an escrow account or something because we are just not there yet. Things are really dicey with the house situation and it’s being handled by not-for-profit groups, the court, lawyers (not us, them, we can’t afford a lawyer nor do I think we want one), and the mediation department at the mortgage company. Pretty much the very definition of too many cooks spoiling the broth. I’ve mostly resigned myself to moving at this point.

The list above will allow me to make decisions based on the amount of money coming in at any given time. Since Mr. Brickie could not work if it’s raining or work overtime it is more important to have a list like this than pay things based solely on due date. While a bill-priority list might not work for everyone, I have found it to be a life saver. I don’t have to constantly recalculate what is owed where and how much to pay what. It’s done once, and when the paycheck goes in I check the total, subtract $150 for gas and living expenses, and the rest goes to bills.

If I get through number 5. on the list (which might be possible with overtime, a raise, and weekend work) the plan is to go back to the store cards and knock those off the list for good.

For now? I’ll be thankful and thrilled he’s working a 10 hour day today. It’s great news and gives me the hope I so desperately needed for the rest of the season.

chicken-border-bottom

4 Comments

  • bren

    Am doing the happy dance over here for you! I also appreciate the step by step planning with the payments. Sometimes the big mountain seems daunting when you start, you know?

    • jennydecki

      Thank you so much! Yes, everything still feels daunting because the relief of him working was kind of masking this even darker fear about the credit cards and the house and the car insurance and everything else. But at least we will have some tools to use to climb the mountain. Or would you call it gear? A pickaxe is a tool and gear, isn’t it? Man, I don’t even know. LOL