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Related: Culture Forums, Support ForumsMoney issues are incredibly stressful and adversely affect quality of life.
My wife and I don't have a lot of extra money, or haven't until recently. We still don't have a lot, but we are getting ahead a little now. We live modestly but still have a hard time getting ends to meet sometimes. I get paid every two weeks, and by the end of that second week we're running pretty low. Every once in a while we have to put stuff on credit when an emergency comes up.
Over the past few months I've been getting some extra overtime at work and it has really helped us out. In another few pay checks our credit card balances will be back to zero. If the overtime holds I'll be able to start making extra payments on the house. I'd love to get it paid off early. It's our largest bill.
I noticed last night how much better I feel. At that moment I chalked it up to the fact that I've taken up meditating, and I'm sure that helps, but it's not the bigger part of the reason. I feel relieved and at ease for the first time in a long time. This tight money situation has been ongoing for the past seven years despite our best efforts. It feels so nice not to have to worry about it so much. My stress is greatly reduced even though I'm putting in a lot of hours at work.
The extra work won't last forever. It's the result of being short-handed in a tight labor market. It's taking them a long time to get someone hired. But I've started scouting around at work, and I think I can still get some extra work when someone else comes on. There are opportunities there that I didn't know about before all this happened.
This has been an issue for so long that I didn't realize how stressed I was. It became an ordinary part if life, you know, that's just the way it is. I'm not going to let that happen again if I can help it.
Sherman A1
(38,958 posts)When the chain I worked for bought another we went to 6 day weeks for years. I was actually working 2 other jobs at one point as well . The money came in handy to help payoff debt from both of our previous divorces and get the kid through college, but it was a killer.
Be sure to put money away for retirement into a 401k or alike as the tax advantages can help you now and the nest egg is important in your older years.
3Hotdogs
(12,408 posts)It feels good to have cash to cover a problem, rather than break out the credit card.
I still use the credit card 💳 for as much as possible, pay off the balance each month and collect the cash back bonus. Gotta game the system as much as possible as they are gaming us as much as they can.
Tobin S.
(10,418 posts)They say at least 15% is optimal. I was putting that back for a while, but had to bring it down to 10% a little while back. Hopefully I'll be able to put it back up to 15% soon.
Happy to hear that you have not neglected that aspect. Yeah sometimes we need to make temporary adjustments to deal with the priorities on the plate, but retirement comes sooner than we think. And my advice is go as early as you can. Everyone's economics are different to be sure, but go as early as the finances allow you to go. One never knows what tomorrow brings.
mnhtnbb
(31,404 posts)Long periods of stress are damaging to your health. It's a well known public health issue that poverty itself--not just lack of access to health care--contributes to greater risk of significant health issues.
It's good to hear that financial pressures are easing a bit for you and your wife. I was thinking just the other day that I hadn't seen a post from you in awhile and was hoping you were ok.
I have seen several articles recently that there is a shortage of truck drivers nationwide. Apparently true for your area, too. Hope that continues to work to your advantage, but be sure to get enough rest, too!
Tobin S.
(10,418 posts)Yes, there is a truck driver shortage. Couple that with the fact that a lot of truck drivers job hop and a lot of companies are perpetually short-handed right now. I think under ordinary conditions the industry has a 100% turnover every year.
MLAA
(17,327 posts)👏🏼👏🏿👏🏼👏🏿👏🏼
DFW
(54,437 posts)Granted, we are not starving in the Sahara wondering where the next drink of untainted water will come from.
Though I have had the good fortune not to be in this position, I have one sibling that is (I help her out), and here in Germany, my wife has at least one girlfriend who lives from disability check to disability check, and has joined an urban agricultural commune to bring down her grocery bill. She is seriously mentally ill, and cannot function without strong medication. Even now, after several decades of her condition, she gets re-committed if she forgets to take her pills or encounters some stress situation she can't handle.
Kudos to you for having the drive to tackle your situation head on. It's so easy to give up and let it overwhelm you. In her job as a social worker, my wife saw that happen often enough, too. The emotional stress brought on by economic pressure is real, and it can be crippling. Watching the Dow hit 25000 doesn't help if you have negative credit card balances.
Tobin S.
(10,418 posts)...that a lot of people are still struggling in America. I am thankful that I have enough to eat and a decent home, and I'm sure to say that in prayer while meditating. But if America is the land of plenty, it is also very expensive to live here. And people fall behind all the time even in so called boom times.
Phoenix61
(17,019 posts)Divide your monthly payment by 12. Pay that much extra every month. Anything over the required payment comes off the principle. It turns a 30 year mortgage into a 15 year mortgage.
Tobin S.
(10,418 posts)ThoughtCriminal
(14,049 posts)Returns the highest without risk.