So my paycheck is now smaller than what I had previously budgeted. This drop in income is because of the change in taxes and it means I now have less money to spend and pay towards debt.

I was preparing for a smaller paycheck this year so I had already revised my budget. I changed the budget so that my monthly zero based budget was $100 less than what it was last year. When I finally got paid this year my actual paycheck was actually $95 less than what I had gotten paid in December so it was really quite a blow to me.

I was hoping that the $100 would have given me a cushion to play with as extra debt payments or savings but it turns out that I have absolutely no cushion this time. I have already had to readjust to living on a student budget and I now have to live on almost $100 less than I was last year while taking into account tuition, books, rent and other living expenses.

It will be tough as I am basically living on minimum wage right now..and one of the lower ones in the country…but it is just something that I have to do now until things get better. The good thing was that I was expecting a drop in my income and I put plans in place to prepare for it.

How have the tax changes affected you?