Where Did All the Money Go?

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Avatar for Knowhere
2 years ago

Four days ago, after I recharged my phone from my bank for an internet data subscription, I checked my bank account balance and the amount I saw gave me emotional juice.

I couldn't help but ask myself 'Where did all the money go?'

Though I know where my salaries go, still I took a peek at my account statement, and the last 10 transactions were all debits, no credit transactions in between, not even one. The last credit was for my salary which came 23 days ago.

First was a recurring transfer I make to my mum on monthly basis. So immediately my salary is disbursed, the set amount is transferred to my mum's account. If I don't support my first love, who will? She needs it for her upkeep. I didn't want to come short in any month so I made it automatic.

Another recurring debit is the part payment of my sibling's tuition fee. I had an agreement with his school to pay a small sum of the termly fee every month over three months (each term last for about three months). The termly school fee was split in three, so I make one-third of the amount every month so that before the end of each term I would have completed the fee. The payment on instalments reduces the impact the school fees would have on my salary if paid once.

Then, there was a debit for DSTV subscription, payment of electricity bill, among others.

Living Paycheck to Paycheck

Does your current bank account balance make you sad? I bet you've sometimes asked yourself 'where did all the money go to?'

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I'm literally living paycheck to paycheck - all my money (monthly salary) comes in and 80% of it goes right back on before day 10, then all before the end of the month. This wasn't so bad at first. After all, I'm taking care of family responsibilities and staying on top of bills. With time I began to have a rethink.

What happens if I lose my job today? Even if I don't lose my job, I'm not getting any younger. Soon I'll be thinking of marriage and other responsibilities will be added to the ones I already have. With all the bills and expenses I can't afford to save any money and there is no way to look to the future.

At the moment I can't live outside my budget, I can't go for a vacation, I can't take an extra bottle of drink for fear of not having enough till the next paycheck.

I'm Tired of Waking Up to Debit Alerts

Living paycheck to paycheck may seem "not so bad" with everything being equal. But one little 'life happens" moment which is outside my control can make every plan and budget crash down. The thought of this feels me with dread.

Who says I've to settle for the "not so bad"? Though I'm stuck in the paycheck to paycheck cycle, I don't have to stay there. I need to look to the future, I need an extra breathing room with my money. And I need to gain financial security.

What Next

I need to have extra breathing room with my money. I need an alternative source of income.

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I already have a solid budget and I know where my salaries go. Bill. Food. Payments. Transportation. I keep my family and I fed, provide basic utilities and have enough to get to work till the end of the month.

Every month, I live below means while sticking to my budget. So my lifestyle and budget is not a problem. What I need right now is a way (s) to increase my income. I need a side hustle.

My work doesn't give me enough hours to get another job that requires my physical presence. So what I need right now is a work-from-home or online job. Good thing I've got a smartphone and a working laptop.

Driving for Uber would have been a good option if I had a car, it pays well here. I've been searching for online jobs. While on it, I thought 'why not give read.cash another shot?' Here I am about 6 months after my previous post. I hope it pays off.

Living paycheck to paycheck can feel like getting stuck in a cycle - like running around a football field track and returning to the starting point. I keep going around and around and never getting anywhere.

I need to make a move and think one step ahead. I have imagined a life of financial security where there is no fear of extra necessary expenses. I need to think about my future goals and focus on them.

I know it would be slow, hard and some days I might want to give up. When this happens, I need to remember why.

I need to start living again!

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Avatar for Knowhere
2 years ago

Comments

Working as an Uber driver has it ups and downs too. Though you can actually apply without having a car but i think you took the best decision. You will be glad you're giving readcash another shot. Welcome back senor 😀

$ 0.01
2 years ago

Every business has its ups and downs. Thanks for the welcome.

$ 0.00
2 years ago

Courageous decision must be back up with courageous action. No matter how you tried to cut your expenses you cannot get beyond your salary. Then what to do is to take a brave decision, it might be hard in the beginning to put a part of your earning in an investment but with discipline and commitment you can make it.

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2 years ago