My Six Month Challenge

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Beverley
Posts: 552
Joined: Fri Oct 09, 2020 11:33 am

My Six Month Challenge

Post by Beverley »

My six month challenge begins now. As I posted on another thread the next six months are going to be extremely tight so I can pay off the new HVAC system interest free. I cringe at the idea that I will have to pay all the back interest if this does not get paid off by September. I also promised DD I would help her with her student loan payment until she gets on her feet. My hope is I can do all of this without having to go back to work, although its nice that option is there should I need it.

Basically I will be living on my Social Security income. Since I waited until 66 1/2 to start it the amount I am getting is doable. But like everyone else who lives only on social security things will be extremely tight, to the extent that I will be doing very little food shopping. I have enough socked away in my pantry to last the next six months so very little will be brought home unless I find a super good deal. The remainder of my income will be put towards the loan payoff.

I have a couple of days to figure all this out before the challenge begins. I will resume doing surveys since I now have extra time. I also need to gas up my vehicle since I am down to 1/4 a tank.

I will review my TG books although about 50% of the information is geared toward family. I may be able to find a couple of ideas I have overlooked.

If living on my SS income proves to be doable in the long run I will refocus my efforts on paying off the house. Then after that build a ginormous emergency fund so I am not caught short again.

If any of you have any ideas or comments please post them and wish me luck!

Bev
HappyDaze
Posts: 4186
Joined: Tue Oct 15, 2019 11:11 am

Re: My Six Month Challenge

Post by HappyDaze »

Good luck, Bev! I feel like you got this!!

I think doing surveys and using the gift cards for food and household necessities is working well for me - so I think that is a good idea - although, as you know, soooooo time consuming and tedious. I don't mind that through and perhaps you don't either.

Is there a way you can go back to work for fewer hours or find a different gig for less hours - if you wanted to?
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
Beverley
Posts: 552
Joined: Fri Oct 09, 2020 11:33 am

Re: My Six Month Challenge

Post by Beverley »

Happydaze,
Yes there are gigs galore out there andI may wind up doing a few later on. Right now I just want to relax and not have to worry about working. It is hard on me physically so I will be forced to limit the amount of time I work anyway....not getting any younger.

I did get a bunch of gift cards over the holiday and I have to get my Sams Club and Costco cash rebates as well. The funds from these will be used to buy toilet paper and a rotisserie chicken in a couple of months.
Beverley
Posts: 552
Joined: Fri Oct 09, 2020 11:33 am

Re: My Six Month Challenge

Post by Beverley »

I forgot to mention that this challenge will include a weight loss challenge as well. Since weight loss is extremely difficult for me I am not going to focus on weight loss. Mainly I will use strict portion control, eat healthy foods and focus on using my stash.

I have lots of beans, lentils and rice from stocking up early in the pandemic. Also flours to make bread. I am hoping that eating less will make a difference in my grocery bill. I am also eating less meat although I have not been able to do that entirely due to my A1C number. I am hoping weight loss will improve my numbers and help me go vegetarian as much as possible. I have several bags of whey protein I bought for DS last year that he has not used. I hope a scoop of that with my smoothies will help give me the protein I need.

I still have rescued food from work sitting in my freezer which will help me the first ouple of months.

This challenege will be even more grueling when you factor in inflation.

Bev
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MackerelCat
Posts: 7226
Joined: Thu Aug 27, 2015 9:44 pm

Re: My Six Month Challenge

Post by MackerelCat »

Bev, if you basically stay home and cook from your storage -- live like a peasant, but in a positive way -- you will be able to do it.
Mackie
floridacatlover
Posts: 8038
Joined: Fri Aug 28, 2015 7:21 am

Re: My Six Month Challenge

Post by floridacatlover »

Beverley wrote: Wed Mar 30, 2022 1:48 pm My six month challenge begins now. As I posted on another thread the next six months are going to be extremely tight so I can pay off the new HVAC system interest free. I cringe at the idea that I will have to pay all the back interest if this does not get paid off by September. I also promised DD I would help her with her student loan payment until she gets on her feet. My hope is I can do all of this without having to go back to work, although its nice that option is there should I need it.

Basically I will be living on my Social Security income. Since I waited until 66 1/2 to start it the amount I am getting is doable. But like everyone else who lives only on social security things will be extremely tight, to the extent that I will be doing very little food shopping. I have enough socked away in my pantry to last the next six months so very little will be brought home unless I find a super good deal. The remainder of my income will be put towards the loan payoff.

I have a couple of days to figure all this out before the challenge begins. I will resume doing surveys since I now have extra time. I also need to gas up my vehicle since I am down to 1/4 a tank.

I will review my TG books although about 50% of the information is geared toward family. I may be able to find a couple of ideas I have overlooked.

If living on my SS income proves to be doable in the long run I will refocus my efforts on paying off the house. Then after that build a ginormous emergency fund so I am not caught short again.

If any of you have any ideas or comments please post them and wish me luck!

Bev
Bev, I keep reading that it’s likely that student loan repayments will be extended again. Right now I think they are supposed to restart in May. So hopefully your DD - and you - will not have to worry about it for awhile.

https://www.cnbc.com/2022/03/09/education-dept-gives-another-sign-student-loan-payments-may-not-restart-in-may-.html

Good luck with your challenge. You can do it!
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