Comments on: Coping with Shrinking Paychecks http://amoderngal.com/2010/01/24/coping-with-shrinking-paychecks/ Healthy Living, without Breaking the Bank Mon, 21 May 2012 13:56:38 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Elizabeth http://amoderngal.com/2010/01/24/coping-with-shrinking-paychecks/comment-page-1/#comment-5712 Elizabeth Tue, 26 Jan 2010 04:07:05 +0000 http://amoderngal.com/?p=2365#comment-5712 Monroe, thanks for the perspective from Michigan. Having an emergency fund is usually the best backup in case of an immediate cash need, because you are right, typically the savings accrue over time. Thanks for commenting. Monroe, thanks for the perspective from Michigan. Having an emergency fund is usually the best backup in case of an immediate cash need, because you are right, typically the savings accrue over time. Thanks for commenting.

]]> By: Monroe on a Budget http://amoderngal.com/2010/01/24/coping-with-shrinking-paychecks/comment-page-1/#comment-5710 Monroe on a Budget Tue, 26 Jan 2010 01:55:44 +0000 http://amoderngal.com/?p=2365#comment-5710 We're seeing a lot of this in Michigan: layoffs, furlough days, lost overtime, pay cuts, temporary but lengthy factory shutdowns. The challenge is a lot of money-saving tricks do take anywhere from a few weeks to several months to see results on the cash flow. Example: I teach a grocery plan where it will take about eight weeks to notice the savings - and a national grocery expert says it can take 12 weeks to notice the difference on her program! (Her system does work for a lot of people, my point is it's several weeks of effort regardless of the details.) More examples: Taking on DIY efforts, revamping the wireless or landline phone plans, challenging a property tax bill, adapting to eco-friendly cleaning methods, limit the number of sports and activities your kids are signing up for, revamping the family vacation plans, cutting back on Christmas gifts, getting rid of one car, using more carpooling or public transit, switching to CFL light bulbs, downsizing to a less expensive home or community ... these all do work in the long run, but do not improve your cash flow next week. Should you do them anyway? Of course. You want to ride out the economic or personal recession with as little damage as possible. We’re seeing a lot of this in Michigan: layoffs, furlough days, lost overtime, pay cuts, temporary but lengthy factory shutdowns.

The challenge is a lot of money-saving tricks do take anywhere from a few weeks to several months to see results on the cash flow.

Example: I teach a grocery plan where it will take about eight weeks to notice the savings – and a national grocery expert says it can take 12 weeks to notice the difference on her program! (Her system does work for a lot of people, my point is it’s several weeks of effort regardless of the details.)

More examples: Taking on DIY efforts, revamping the wireless or landline phone plans, challenging a property tax bill, adapting to eco-friendly cleaning methods, limit the number of sports and activities your kids are signing up for, revamping the family vacation plans, cutting back on Christmas gifts, getting rid of one car, using more carpooling or public transit, switching to CFL light bulbs, downsizing to a less expensive home or community … these all do work in the long run, but do not improve your cash flow next week.

Should you do them anyway? Of course. You want to ride out the economic or personal recession with as little damage as possible.

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