<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Elm Street scenario

Elm Street scenario

May 6th, 2009 at 08:08 pm

Inspired by ceejay74, I've decided to do a budget to reflect my finances should I become unemployed. It is, dear Readers, as follows:

Rent 500
Debt Repay 555
Food 180
Electricity 50
Internet/TV 41
General bits 50

Total 1376

Social welfare 720

So a pretty big deficit of 656 a month.

Thsi 656 would have to come from EF. Also I would be waiting for 3/4 months for the social welfare to get processed.

Hmmm... moving swiftly on... if I was debt free - my last Debt repayment is in October 2010, then the deficit would only be 100 per month... MUCH more manageable.

Also, I wasn't expecting to add anything to my EF this month due to my 2 short holidays but it looks like I will be able to !!! Due to overtime, good fortune etc..

I love this world !! :-)

Posted in Uncategorized | 6 Comments »

6 Responses to “Elm Street scenario”

  1. ceejay74 Says:
    May 6th, 2009 at 09:22 pm 1241644929
    1241644929

    Looks pretty good! You sure are lucky not to have to worry about health insurance if you're unemployed. Smile Maybe when you get your EF built up to a comfortable level, you could tackle that debt and pay it off a little early...

  2. Apprentice Bliss Hunter Says:
    May 6th, 2009 at 10:49 pm 1241650166
    1241650166

    Thx ceejay !

    I'm gonna throw all extra income at EF and aim to have it fully funded by end of 2011.... will just have to be optimistic and soldier on in mean time !!! (like all of us)

  3. Amber Says:
    May 6th, 2009 at 11:40 pm 1241653256
    1241653256

    Planning ahead is the best way, I'm glad I had money socked away. It's not necessarily what I would like to have had but I can get by at least until after graduation

  4. scfr Says:
    May 7th, 2009 at 01:43 am 1241660635
    1241660635

    Getting the EF built up & the debt paid off sound like an excellent way to prepare for the worst. You could think of it as your "I like being out on my own now and I REALLY don't want to have to move back in with mum" plan!

  5. L Saver Says:
    May 7th, 2009 at 01:53 am 1241661229
    1241661229

    Think of how great it will be when the debt is paid off! Calculations like this always remind me what a difference it is when the debt money can be used for something else!

  6. HouseHopeful Says:
    May 7th, 2009 at 12:34 pm 1241699676
    1241699676

    Sounds like you have a good what-if plan. Congrats on being able to put a little to the Efund after all!

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]