it finally happened, ran out of cash till payday

LegacyUser

well folks like many i suppose in this climate, cash becoming tight, well actually tonight just realised that i am out of cash until payday, ( except for the cash thats sitting in the bank to go out on direct debit in the morning. ( and i am seriously considering withdrawing it for essential supplies)

(all my bills are paid up to date, i always pay my bills never missed one yet, )

have enough for petrol, for the commute but thats it, so it has to go on petrol, anyways, I am sure that there are more people like this in the current climate, who maybe in a worse state of affairs. how will we survive the budget with rumoured property tax and the like.

i am working full time, and i fear the budget will finally finish me off.....

Nulty

Do you have a credit Union account? They're always cool when you go looking for a short term loan of this nature. If not, then family/friends/work collegues are the next stop. Maybe a bank will loan you but banks dont like me

ANXIOUS

Not too bad of a situation. I know my bank will pay a direct debit three times even if there is no money in the account before they decline it. I wouldnt also approach the bank and look at the possibilty of a short term loan.

Sleepy

A short term loan will be a short-term fix. It's time to examine the budget OP.

Are the DD's for a Sky+ Sports & Movies package? What year's the car you're using for the commute/ it's engine size etc? Are you shopping in Lidl / Aldi where possible? Bringing a packed lunch to work? Going out every weekend? Eating lots of takeaways?

Lots of things you can look at to ensure it doesn't happen again next month.

seamus

You're only properly screwed if you've cancelled all your subscriptions (TV, phone, etc), you rarely leave the house and you're trying to sell your stuff in order to raise cash to buy food next week.
Otherwise you've just failed to budget properly.

That sounds a bit harsh, but it's the fact of the matter. If your income drops, then your quality of life must drop to match.

Budget now to work out how much cash you need to keep you going until your next pay day. See if your bank will extend you an overdraft or see if your family will advance you that money until then. I would avoid going to friends for loans unless they're as close as family, that can end up being troublesome.

LegacyUser

I don't want to start a "I'm worse off than you" thread but I simply don't know where to turn. I've worked for myself most of my life. In the past I enjoyed a comfortable lifestyle and tightened the belt when I needed. But now it seems the harder i try the worse things get. I haven't paid the mortgage in 5 months(I'm on first name terms with the arrears staff) behind in my ESB, phone and mobile is about to be cut off. The phone hasn't rung with any new business in 6 weeks and I won't qualify for any social welfare for about 6 months. I have no work this week and zero income on the horizon. I have used up my "rainy day" savings. I'm 42 and my self esteem is shattered. I'm putting on a good front and trying to be positive but inside I'm a broken man.

Nody

I'd also start saving every single receipt and write down every single expense in an excel file to see where are you actually spending money (if you're good you can tie it in with your bank account and money in wallet as well to ensure you don't miss something); you may be surprised what you'll find.

iguana

First off make a budget. As Seamus said, unless you have already cut back in all areas you can probably cut your outgoings quite a bit. Sit down with your monthly income and deduct any outgoings that can't be changed, mortgage/loan repayments. Then write down all of your outgoings which are possibly flexible, utilities, insurance, food, petrol, all luxuries and work out how and what you can save.

Have you checked that you are with the lowest priced utility companies? You can shop around for your gas and electricity supply and there can be some pretty good savings. The same goes for tv, phone, broadband and mobile. And be ruthless, if even the cheapest packages are out of your price range, cut them. Even with the necessaries can you cut back? Wear a jumper and turn down your thermostat. Switch off lights in rooms you aren't in, don't leave appliances on stand by - I doubt your microwave is your only time source - switch it off when you aren't using it.

Buy the cheapest groceries, (Aldi/Lidl aren't always the cheapest, they mainly sell value luxury goods, basics may be cheaper elsewhere) shop around. Poundshops and Asianfood markets can have some great savings. Use pumps.ie to find your cheapest local petrol.

Make your own lunches, don't buy newspapers/magazines or cups of coffee, these add up a lot for very little enjoyment. If you do have money for occasional luxuries sign up to all of the online deals newsletters, livingsocial/boardsdeals/citydeals etc. That way you can save 90-40% on meals out/beauty treatments. But if you can't afford them, even at discount levels then you have to accept that. There are still free things that are good fun, walks in parks, some museums, various festivals, the library, arranging with friends to have each other over for dinner regularly. (You spend a bit extra when you have them over, you save a bit when they have you.) Arrange to do homemade Christkindl with friends and family. Everyone is feeling the pinch so don't be embarrassed to admit it.

And, I know this will be tough, but when you are making your budget I seriously recommend finding a way to put aside some savings, no matter how little. We know that everyone in the country is about to have their outgoings increase and income drop. Try and make yourself the biggest cushion you can.

Eta: This is also a good time of year to go through all of your unwanted goods and sell them on ebay/gumtree. But do it fast, once the Christmas postal period has passed you will get a lot less for them.