My first paycheck with the 10% cut will start next month. After updating my budget to include this new reality, my wife and I are in the red. Still, we don’t pass the means test for Chapter 7 and the Chapter 13 monthly draw to pay back my credit cards would be almost where it is now. The reason for this is the passage of the Bankruptcy Reform Act of 2005. The allowances for clothing, food, and medications are sparse compared to average expenditures. Even with excellent health care I pay over $270/month in co-pays for my medications.

We have six months left on our current home lease. After much discussion, my wife and I decided moving to a two bedroom apartment mitigates some of the pain. We will be saving almost $600.00/month. I won’t say how much I make, but the pay cut amounts to $500.00 less per month, so this looks like a good plan.

Even with all of this happening, I am still optimistic about the future. I know there a large number of families and individuals out there who are suffering greatly and I pray for them as often as possible. Getting a 10% pay-cut, while painful, is better than losing my job. Many folks have lost their jobs, homes, and retirement accounts. Some are forced to start from scratch. Some have committed suicide, some have killed their families, and some have done both. I can’t imagine the amount of stress it would take to cause some to crack in this manner. I consider myself lucky that my faith, my wife, and my friends are all there for me.

I am still working on getting my first post in my philosophy section completed. I want it to be perfect and communicate my ideas succinctly, so keep checking back on this site and follow the link on the main page to the philosophy section.

Good luck to all of you out there.

Best Regards,

Gerald Merits