My Journey out of Debt

Featured customers currently enrolled in a CareOne Debt Relief Plan, share journey to become debt-free; hear how they juggle family, finances, and more.

Cost of Living or Just Expensive Living?

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Cost of Living or Just Expensive Living?I remember when the raises we got from our employers on an annual basis were primarily to cover a "cost of living increase." 

Do you ever feel like no one considered increasing the percent of wage increase but forgot to mention that to the cost of living?!  Seriously. 

The cost of living we have today is nothing like it was yesterday and certainly only going to be worse tomorrow. You can find a lot of tools online to compare different cities and how your salary compares. I was amazed when I entered what I make in Charlotte, NC and what I would have to make in Washington, DC to maintain the same "lifestyle!" 

Differences in cities aside, think about your cost of living and how it has changed. Think about the things that you need on a daily basis to live and how much you have to spend to get those needs met: groceries, gas, utilities, clothes. How do you manage the increase in the cost of your basic needs when sometimes your annual pay increase do not cover it? It seems like a never-ending cycle. 

Going to the grocery store, no matter how many lists I make and coupons I clip, seems to be the hardest job for me each week because of the amount of money I have to spend to feed just myself and my husband. In comparison to what others have to pay, I know I am pretty lucky. But what about when you have to eat, you have to use your vehicle, you need to keep your lights on...the list goes on and on. How do you keep up with the rising costs?

I have been watching my cost of living rise each year while my paycheck has not kept pace. I finally decided not to fight it. My only solution at this point is to treat each year like I will not receive an increase in pay and continue to manage my expenses to the bare minimum with my budget. This way, any extra that comes in can contribute to the necessary expenses. 

More work and tracking on my end, but the work I put in should help to alleviate some of the stress of my day to day living!

Related Posts:

Avoiding Pain At The Pump

The Skinny On Budget Grocery Shopping

Gas, Electric, Water....Oh My! 

Katie Simmons Lupo, My Journey Out of Debt Blogger for CareOne Debt Relief ServicesKatie (Simmons) Lupo

Katie is currently enrolled in the CareOne Debt Relief Services Debt Management Plan (DMP). You can read more about Katie's experience in the My Journey out of Debt blog. In her blog, Katie explores life without credit cards, living on a 'real' budget and making that adjustment from spender to saver. A newlywed, Katie candidly addresses how debt has influenced her choices in love and life. Look for older posts by Katie under the Single and Settling In blog. Compensated Blogger for CareOne Debt Relief Services.

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  • It is definitely getting harder and harder each day to figure out a budget.  It seems the prices of things are rising much faster then I can keep up with..  I can't depend on a cost of living increase at my job.  In fact we received a pay cut.  I can't wait to be done with this debt so I can keep up with the increases in costs.  

    Great post!!  I truly hope things start balancing out!!

  • Yeah, the cost of living has sure been an issue the last couple of years.  I cringe everytime I fill the tank up. What used to cost me $14-$18 now cost me over $50 to do.  One thing I have taken advantage that provides me with a good level of comfort is my companie's flexible spending account benefits. Sure you miss the money a little at first but it sure comes in handy when the kids get sick and have to see the doctor.  They never seem to want to get sick when you can afford it.

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