Get Out Of Debt: But I Spend More Than I Make | I've Paid For This Twice Already... http://www.paidtwice.com/2008/10/09/get-out-of-debt-but-i-spend-more-than-i-make/#comment-54336 jinger Thu, 09 Oct 2008 13:15:47 +0000 http://www.paidtwice.com/2008/10/09/get-out-of-debt-but-i-spend-more-than-i-make/#comment-54336 What a timely subject! I wholeheartedly agree about living on the edge...it's not pretty. I have cut everything but internet and cable and since they are lifelines for my 19 year old and me, we will keep them. My new plan is to increase the amount the 19 year old contributes to household living expenses. She is starting a second job with better pay next week in addition to her college classes. Right now she pays our cell phone bill, her car insurance and all her own expenses. I think it may be time for her to pay her share of internet and cable as well, inching toward independence one step at a time. Her college tuition is paid through financial aid grants, not loans. As for me, in a few months, I can eliminate the hefty individual health insurance payment I make monthly, as I will receive Medicare. And that money, instead will go towards my loan repayment. What a timely subject! I wholeheartedly agree about living on the edge…it’s not pretty. I have cut everything but internet and cable and since they are lifelines for my 19 year old and me, we will keep them.

My new plan is to increase the amount the 19 year old contributes to household living expenses. She is starting a second job with better pay next week in addition to her college classes. Right now she pays our cell phone bill, her car insurance and all her own expenses. I think it may be time for her to pay her share of internet and cable as well, inching toward independence one step at a time. Her college tuition is paid through financial aid grants, not loans.

As for me, in a few months, I can eliminate the hefty individual health insurance payment I make monthly, as I will receive Medicare. And that money, instead will go towards my loan repayment.

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