Becoming Debt Free in 2009

January 21, 2009

The Weekly Budget Cut

Filed under: Budget,Debt,Journey to Debt Freedom,Weekly Budget Cuts — ambercouric @ 1:13 pm
Tags: ,

We had the “family meeting” to talk about the mandatory pay cut my husband has to take.    While we didn’t go into specifics as to the total amount we came up with the idea of making a weekly budget cut.

The goal is to eventually cut the budget by $400 per month.  But instead of doing it all at one time we will decide on one cut per week and implement it.  No “cut” is to large or to small.  It just depends on what we agree to as a family.  Ashby won’t get a big say in this since he is not here much.  Of course, when he is here during the summers he will feel the effects of whatever we decide.

We decided to do this as a slow process for two reasons -1) to make it a game 2) to make it an easy transition so no one feels deprived.

I realize that we could go all “gazelle” but since we do have a good emergency fund we feel like the cuts are more likely to stick with us having to put effort into making decisions based on our priorities as a family.

Each Monday I will post our “Weekly Budget Cut”.  Give an idea of how we decided on the particular cut and post an update of the total we will save per month.

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10 Comments »

  1. Good luck with your cuts. They are never easy that’s for sure.

    Comment by MakingUpForPastMistakes — January 21, 2009 @ 2:17 pm

  2. That’s a great idea! I like that it will be a slow transition. Nothing shocking.

    Comment by Movingonup! — January 21, 2009 @ 2:25 pm

  3. Great leadership! Your commitment will pay off!

    Comment by BDO — January 21, 2009 @ 3:28 pm

  4. I like that idea a lot and doing as a family is awesome!

    Comment by Budget Mama — January 21, 2009 @ 5:42 pm

  5. I look forward to following your journey on this…sounds like a great idea!

    Comment by Sharon — January 21, 2009 @ 8:41 pm

  6. I think it’s wonderful that you’ve included your children and made this a group effort. I’m sure the cuts will initially be difficult but it looks like you’re very capable of handling them.

    Comment by shtinkykat — January 21, 2009 @ 10:44 pm

  7. Hi there-best of luck and a great idea for working this too.

    Comment by sharon rose — January 22, 2009 @ 3:38 am

  8. Good for you- I think that is a great idea 🙂

    Comment by jpkittie — January 22, 2009 @ 8:02 am

  9. Let us know how it goes! Particularly how the kids get involved and what their suggestions are.
    Good idea!!

    Comment by Angie — January 22, 2009 @ 11:19 am

  10. What a great plan, I’m sure you’ll make it a success. I wish you weren’t in this position 😦

    Comment by Miss M — January 22, 2009 @ 3:09 pm


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