New year, new paycheck. Shit's about to get tight around here. As a federal employee, my pay has been frozen since 2009. Thanks to a confluence of events, I'm going to have to really get on top of my finances.
First and foremost, I need to have some serious dental work done this year. I'm going to start paying (literally) for all those years sans dental insurance when I just ignored my teeth. Ug. I signed up for a HSA at work that's going to take an extra. $100 out of every paycheck. It's gonna hurt now but will save me a good bit on my 2013 taxes.
The social security tax holiday has come to an end as well. That'll be another $80-90 per month.
To make up for the shortfall, I've stopped moving money into my emergency fund. I'm going to do my best not to touch that money but you never know. I'll sell the small amount I have invested in stocks if I have to before that.
Next step is some tried and true frugal tips. First up is to start making more of my meals at home. As a single guy, I tend to eat out a lot. Also, going to try to curb drinking at bars although I really have cut that down over the last couple years (well, comparatively.) Lastly, book buying needs to be stopped. I have enough to last me and I can borrow anything else.
If things get worse, I can always get a roommate or sell some guitars. The situation isn't dire, it's just that I won't be making much progress for a bit.
