IF you haven't already heard, congress has cut the budget and will be getting rid of 25000 airmen in 2014. My husband has served 15 years in and we are pretty sure he will be cut next year which means life is about to drastically change. Health insurance, pay, job searching etc. It is my goal to pay off as much debt this year and save every penny I can. Would love tips down to the wire. Our budget is fairly tight mostly bc we are paying so much on debt right now. We have one credit card that should be paid off april and another loan the same month which will free up $722 a month. However right now we put ALL our gas right now on that cc so we have to consider that new expense come april. We have another cc we owe 11,000 on and we need to save as much as can. When we get back to the states we will need to buy a car, washer, dryer, fridge, and microwave. We currently have ZERO savings. How can I save save save, and make money on the side. NO where I can work here really so need creative ideas or stuff online. TIA
I would start by finding out what you can expect in terms of severance arrangements. You might try some political movement such as contacting your congressional reps to see if severance can be added back into the budget. It is possible that authorizations to continue health ins or other aspects could be extended.
However, you should probably consider going to the highest levels of frugality. Cancel cable, cut electric use, only cook at home, etc. Even the internet could be cut if you have a local library or cafe where you can get access. Evaluate every payment you make and ask for it is be lowered. When I was severely downsized (from my marriage!) I would study and work at the library just to save electricity. I got so used to hanging my laundry dry to save money on drying it, I will probably never go back to a dryer.
Maybe there are classes, trainings, or opportunities you can take advantage of (both of you) to help you better prepare for your new life. If you have access to purchasing something interesting locally, perhaps you could set up an ebay or amazon business selling it to the states? You can also start networking for work now.
Also, negotiate that credit card payment interest rate. Or see if you can find a transfer card or maybe while you are still employed you could get a credit union loan at a good interest rate and pay it off.
As far as buying things in teh states: ask friends/family to keep an eye out for things at yard sales or if they are just upgrading. washing machines and dryers regularly get upgraded and working units get put out for recycling. Same thing with a car.
I know it is difficult to face this type of situation, but having a bit of notice can be helpful. Best of luck to your and your family.
|Frugality , Finances|