Years ago when I was in college, I got financial aid, and would pay all the bills for three months ahead, like rent, cable, insurance, etc. Then, my daughter and I would know that "this is our money for a cheap movie or a new jacket for school".
Now, I live on SSD, which means I know what my income is each month. When it's deposited, I have set days when automatic withdrawals are made to pay the bills. What I do is go through and take the "money" out of the total that is set, then if there is anything left over, that is what I can save or spend. Believe me there isn't much, if any, but I am lucky to have it and a roof over my head. So, if my income were $1000.00 (I wish!), and my cable is 88.00 then I write down that, put the balance in, then take out my insurance, and so on.
I never overdraft now and find that entering things in a register "once a month and it's done" really helps.
If this sounds like it might help you, give it a try.
Source:
By Sandi/Poor But Proud from Salem, OR
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Thanks for the post Sandy. Hope folks read it. Have been using the same method for years and like you, I am on SDI and fixed income. My only difficulty is my utilities. That's the only unknown in my equations. So took it a step further and added up total gas & elec. for a yr. to get an average monthly total and have learned to set that fixed amount aside before I allocate my "running around" money to myself.
That is a great idea, too. Mine has been running around 25.00 a month, so I just increase it by 10 percent each month, then if it's less, I can buy a little more gas that month.
When I have been with the electric company I am with for 1 year, I can do what they call "even pay. You pay each months the same, and while you might pay a bit more over the summer you pay a bit less over the winter. I love it cos' I know each month what the bills are.
PBP
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