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How did/do you survive financially?

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  • How did/do you survive financially?

    I was appalled by the article about the gentleman that committed suicide because he had been brought down to basically 'financial ruin'.

    My question to members, based on your experiences is "What and How did you survive financially?" What are some tips/tricks you can offer to forum members?

    I'll get ball rolling ... and in no particula order.

    1. Using RRSP or some other asset as a guarantee to acquire loans.
    2. Creating a budget and sticking to it.
    3. Pay yourself first, if you can, even if it's a small amount.
    4. Shop for bargains and use coupons for food.
    5. Barter


  • #2
    figuring out which luxuries you really want. Do you really need full cable? or is it something you just got used to having? High speed or is light speed internet ok? Stuff like that. Takes actually looking at it with a new set of eyes.

    Coupons are great - paying attention to the sales and stocking up when things are on sale.

    Cooking in bulk and freezing portions- especially useful if you are just one. Plus it makes things easier on work nights( you can either make more portions the night you cook - or set aside a day to cook like all your meals for a few weeks)

    A cheaper place to live.

    Buying things to set up the new place at garage sales.

    Eating out less

    Check out clothes at the Value Villages or thrift stores... I used to do this while with my spouse - you can get some amazing deals years ago I was a snob about things like this - but now, hey why not?


    • #3
      Ok ... I just did a draft up of a Budget to run two households that include your monthly expenses and all, food, car ... ya know, the stuff one is accustomed to having.

      Well ...

      Holy COW! By the time support payments are made... she MAY be able to swing things -- on a very TIGHT budget. However, what I'm left with could barely be enough to buy peanuts! It's CRAZY! It certainly is NOT enought to raise 3 children part time!

      How the heck does one survive! Being in the RED every month, it would be a only a matter of time before one claims bankrupcy or is no longer able to support their children adequately.

      This comes back to what DecentDad said, one is just better off to GIVE the spouse the kids and sacrifice and try to survice with what little $$$ is left.

      Lord, winning the 6/40 or Lotto 7 would certainly help!

      I don't know what to do at this point ...

      I'm going off to PRAY!



      • #4
        I can't even afford to go bankrupt - which I already have! I don't even pay spousal support and I'm in the red every month. I don't know how everyone else manages - especially if they didn't have a cusion of savings/investments to fall on after seperation.


        • #5
          Well that is the thing about divorce. You are talking the amount of income you had as a family and now having expenses for two households- It won't go very far at all. Simple economics. You have to give up somethings- can't maintain two households at similar lifestyles on the same income


          • #6
            Originally posted by Jenny
            Well that is the thing about divorce. You are talking the amount of income you had as a family and now having expenses for two households- It won't go very far at all. Simple economics. You have to give up somethings- can't maintain two households at similar lifestyles on the same income
            Thats very true. And its something people tend not to think about in the initial stages of divorce.


            • #7
              It is really tough!

              I did a calculation at the bottom of this page:

              Basically, someone who earns $100,000 per annum, which is a pretty good salary, who must pay child support for two children (with no special or extraordinary expenses) and spousal support to an ex who isn't working is only left with a touch over $3000 per month to live on. In Ottawa, Toronto and I'm sure other parts of the country, that's really only enough for rent, a car, food, with little left over for other living expenses and expenses for the children.

              Most people have to dig into their assets at least to pay legal fees, and often to use them as a downpayment for a new home.

              Of course, a lot of people earn less than $100,000, and the situation is much tougher then! What was once a salary good enough to support a household comfortably is rarely enough to support two households.
              Ottawa Divorce


              • #8
                Hi Hubby

                OMG I must be hungry cause I read you question and typed a whole paragraph on food you can cook when your broke... ha ha ha.... I love fridays...

                HAPPY ST. PADDIES DAY


                • #9
                  Thanks Jeff for confirming what my nubmers are telling me and what DecentDad had mentioned.

                  What was that Bill? C41 - what a sad day for Canada when that came into effect! Shame on our political leaders ... they are not even worth the title of being called leaders ... well thats not true, leaders to destruction maybe.



                  • #10
                    re How do you survive $$$

                    Divorce can be very humbling to a fathers income.
                    Try the value village for clothing a brand new Wrangler jacket tags still on cost me $8. and Virtually new Boulet cowboy boots for $14.Less then 10% of the value of the boots alone.
                    I 'm planning to strip my phone services to the bare minimum-- if they want to leave a message they can e-mail me.Ditto with sattelite and internet service.
                    go to a pay as you go cell phone Blow $50 on it and you'l l get the picture real soon.
                    Still looking for a better deal on car insuranse--- use my bike, childs taga long trailer and coleman to go gocery shopping--- yeah its for the exercise.
                    Scrapped the Y membership and bouught a weight rack and weights at a yard sale.
                    Anything at a yard sale that your children will outgrow faster then you can pay for it on your Visa eg littletykes,outside play gear , turtle pools etc, they only know its in the backyard and that daddy loves them they donnot care that you did not buy it at the Bay
                    Shop the perimmeter aisle of the grocery store and learn how to cook.
                    Put a 24 pack of H2O on the front seat-- grab one of these at .20 cents instead of a large coffee and donut at Timmies blowing the crap out of a fiver
                    Okay save a timmies for the weekend yuou deserve it.
                    fix something for someone else or help a neighbor YOu'll usually get a beer, a meal and a shoulder to cry on--- also had three glorius months dating the neighbors cousin restoring my sense of self worth and seeing that some of the parts still work.
                    Picked up a nice ride for a song because it was a police interceptor vechicle that was set up for pursuit work.Yes it flies , Yes my insurance has gone up because of it. saved close to 5 grand off the retail of a non-police vechicle
                    less the cost of the ticket.
                    Buy a nice suit if you can at Moores and go to church on Sunday and stay for the social, met a wonderful girl with 3 children , we can keep it at a friendshiop level.
                    Eat half of what you normally do . Really who need three eggs and six slices of toast and six bangars. Thats enough to feed me and the kids on Saturday morning.
                    House insurance -- still looking for some one cheap and good.
                    Have a yard sale -- If you haven't used it in three months like your ex spouse get rid of it--- if youve got any of her stuff sell it off cheap and get rid of it too.
                    scrap the newspaper--- sorry kid-- there is better news on the radio.
                    Get a basketball and take the kids to a park --- it doesn't have to be Canadas Wonderland.
                    Pray to god and say one for me us fathers need all the help we can get
                    I'll concede , all of us single parents male and female need all the help we can get.


                    • #11
                      I agree that you just have to decide what types of luxuries are important to you and then put money aside to have some sort of safety net. I know that I spend money on things that I really don't need to, like going on one or two big trips a year. That alone is several thousand dollars. I get netflix and eat out every once in a while (but if you do this too much it adds up). However, I also try to buy things on sale, use coupons, and bargain hunt. I have the minimum phone service at home since I have a cell phone and just have basic cable.


                      • #12
                        Great tips zeppgirl.
                        Cutting down those things you dont need. I dont have cable at all anymore. I figured it just makes me fat anyway and the money is better off going elsewhere.


                        • #13
                          I had a very nice life style while I was married. I had to make drastic cut backs when we separated. In all honestly I prefer my life style now. I like a simplified life. Who needs all "that stuff" it really doesn't buy you happiness, it seems to me its all for "show". And the clutter it creates, can drive you nuts. Both a Volvo & a Saturn can get you from point A to B. Now the occasional meal out is an event and a real treat that you appreciate more. You spend more time as a family, if there is only 1 TV in the house. I also find it fun to find ways to create nice inexpensive meals.


                          • #14
                            OMG, I paid 103.9 at the pump this morning. These gas prices are throwing a wrench into my budget.


                            • #15
                              Grace...when I read that you paid over $100 for gas, it was the first time I felt thankful for living in the north! I don't even have a skidoo here....I just bought a plastic kids sled and that's how I get my groceries back from the store! ha! I walk everywhere here....brrrr.


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