Remind me never to start my weekend by paying bills again, okay?

• $32 gas
• $78 Costco
• $937 rent
• $128 utilities
• $165 Sallie Mae
• $490 car payment – Prius
• $400 Chase
• $47 internet
• $84 Sprint
• $200 ING – me
• $200 ING – him

I’m still in charge of paying all the bills, so I went ahead and opened separate savings accounts and made our first deposits this payday. It isn’t much, but the goal is to have a little set aside for when the divorce is final so that we each have something to fall back on.

Oh, the joys.

The following is a sponsored guest post. I don’t make a habit of giving financial advice, but I think the following makes some valid points. Only you know what works for your situation and having all the facts can help you make an educated decision.

If you follow every single bit of advice from this blog, there still might come a time when your expenses for the month exceed your available cash.

Of course, sometimes you can whip out a credit card to pay for that extra expense. But maybe you’ve gone plastic-free. Or maybe you don’t have a credit card in the first place. Perhaps you’re just that disciplined you don’t want to add to or create a balance. Which then begs the question: How do you survive if you cannot or choose not to borrow from your future with a credit card?

First, consider how this happened. Did you have a car repair that was ridiculously expensive – like $1200, when your spare cash is only $300? Did you run into a dental expense that is not covered by insurance? It might be hard to work with a missing tooth, when even a temporary crown might set you back $1000. In both situations – broken cars, broken teeth – you might not be able to work if you don’t take care of these things.

So whaddaya gonna do?

If you work, you have a surprise benefit, because that is what payday loans in effect are. Only people who are employed are able to get them. But you shouldn’t use these loans for frivolous purposes. These are short-term loans of a modest amount, which means two important things:

• The amount you borrow is limited. In other words, you cannot get in so deep you can’t get out. This can happen even with car title loans, particularly if you car is of a higher value (more expensive cars might get you a bigger loan – and a bigger chance of losing the car if you cannot repay that loan).
• Personal loans based on paychecks get repaid quickly. Ideally, you will repay this loan in your next paycheck (you will set up a pre-authorized automatic withdrawal to hit a day or two after your pay date). Unlike a credit card where the balance can linger for months and years, it will not dog after you and accumulate interest.

To summarize, you can’t plan for emergency expenditures if you’re using all your disposable income for essentials and debt service. And you might not be good at managing with credit cards. But with access to personal loans through payday advances, it’s your emergency cash for those times when there are few legitimate alternatives.

I’m a bad friend and totally ditched out of going shopping with friends last weekend. I didn’t sleep well the night before so I was kind of grumpy and just didn’t feel like getting dressed and ready. Ever have days like that? Good for my pocketbook, not so good for my social life.

• $157 State Farm – car insurance
• $376 car payment – Corolla
• $161 Sprint – both cell phone bills
• $283 Capital One
• $125 Chase
• $120 Target
• $48 Walmart
• $5 Starbucks
• $5 McDonalds
• $38 Old Navy
• $32 Texas tollways

Where’d you spend your money this week?

So, I laid out our financial goals in January. In April, I gave a Q1 update. Now it’s time to see how we did in Q2.

Just like last quarter, they’ll be some adjustments going forward. The biggest stems from our impending divorce and how we’re going to handle paying off our debt and separating finances. It’s not fun, but it’s (dare I say) friendly.

Here’s what we had planned for April, May, and June:

• Increase emergency fund to $4,000
• Pay Chase (1 of 3) in full
• Begin regular contributions to Roth IRA

Here’s what we accomplished:

• Emergency fund steady at $2,000
• Began making regular contributions to 401k account

Not exactly what we had in mind, but it’s better than a sharp stick in the eye. Here’s the plan for the rest of the year:

2011 Q3 Goals

• Pay car loan (Corolla) in full
• Pay Chase (1 of 3) in full
• Continue regular contributions to 401k
• Hold emergency fund steady at $2,000
• Begin separating finances and saving independently

2011 Q4 Goals

• Pay Chase (2 of 3) in full
• Continue regular contributions to 401k
• Continue saving independently

And if I happen to become independently wealthy before the end of the year:

• Max out year Roth IRA contribution
• Pay Chase (3 of 3) in full

So, how have you done reaching your financial goals this year? Do you have any goals for the rest of the year?

How was your week? Lots of business here, which is a terrific way to avoid spending any money!

• $33 gas
• $25 lunch (and margaritas) with friends
• $5 happy hour with coworkers

Do you have big plans for the weekend? I’m headed out for lunch and shopping with a friend today – let’s hope I don’t do too much damage!

How was your 4th? The great thing about going to visit family for the holiday is that you don’t have to pay for much of anything. (Thanks Mom and Dad!)

• $147 dog boarding
• $28 airport parking
• $140 grocery

P.S.

I won an Editor’s Pick prize in the RetailMeNot BlogHer Giveaway – a ticket to BlogHer! So, thank you for your votes and lovely comments. Will you be there?