the best month for extras

amother

Mon, Oct 06 2008, 4:33 pm

My husband and I work, but we don't get paid for vacation days like work- we get paid per hour, when we work. We work a regular schedule, year round, just unpaid on yomim tovim.
With an income like that, what month would you say is best to buy expensive, non urgent necessities?
I keep on pushing things off, thinking "next month is better", but is it really? what month is actually the best to spend money, aka least yom tov and school expenses?

Tamiri

Mon, Oct 06 2008, 4:35 pm

If you want a smart financial answer: the month is the one when you have enough SAVED to make your purchase. Not one moment before. Assuming this purchase will go beyond your monthly budget (you do have one, right) and cannot be covered by income alone.
This is going to be a whole, new way of thinking for several modern generations: you don't buy until you have enough saved for the purchase.

amother

Mon, Oct 06 2008, 4:42 pm

we have money in the account and it gets mostly used by the end of the month, and then we put in another paycheck. (we have money put aside but thats completely for emergencies, not like this.)
so till the end of the month I dont always know how close we're getting to 0... but I want to know which months have the most expenses.
(Ex. my husband really needs new glasses. his old ones broke in 10 peices, and now he's wearing his old glasses with the wrong perscription. not good at all, but glasses arent so cheap.)

Stayci

Mon, Oct 06 2008, 4:48 pm

glasses with the wrong number is pretty urgent. Try putting away money starting this month for another pair. (It is the hardest month, since there is so few work days and so many expenses.. but its important.)

Tamiri

Mon, Oct 06 2008, 4:59 pm

Glasses are an emergency. A trip to Disney isn't. A washing machine is. Etc.
I find that there is "something" every month. The best is to take money off at the beginning of the month, put it away, then work with what is left. If you can finish the month with what is left, then the sum you skimmed off at the beginning is your luxury/savings money.

flowerpower

Mon, Oct 06 2008, 5:18 pm

You don't really know but I would say after yom tov some time in the winter when you are done with all winter shopping and no need to buy food or yom tov things like estrog.

alpidarkomama

Tue, Oct 07 2008, 2:56 am

We save up too, for all those irregular expenses. A few years ago we figured out what all those irregular expenses came out to per month (car, special chagim food, vacation, etc.) and spread it out over the year, setting an amount aside each month in a separate account. Now when a big grocery time comes up, like for pesach, there's already extra in the account and we also now exactly how much we're "allowed." It's working pretty well now, and believe me we are NOT rich so it's not the easiest thing in the world to think in terms of an annual budget, but it has kept us completely debt-free living on one (NOT large) income.

alpidarkomama

Tue, Oct 07 2008, 2:57 am

We also have $1,000 in an emergency fund, so if something like a OOPS broken dishwasher comes up, we just take the money from there and replace it ASAP.

Marion

Tue, Oct 07 2008, 4:50 am

Are you in Israel? July. Most companies pay dmei havra'a with the June payroll (it's a mandatory payment, pro-rated to the percentage of full time hours you work, so even if you get paid hourly you will get this), so there's often a little "extra" at the beginning of July. February is also good...no extras in January (Chanukah's long over) and usually still a while to go before Purim & Pesach.

amother

Tue, Oct 07 2008, 9:53 am

Stayci wrote:

if my husbands anyhow wearing these already for a few months, does it make a difference to wait another month or two? what harm can this cause? (he doesnt drive, and the number isnt soooo off.)