Reflecting on Budgeting Challenges After Ten Years of Employment

Today, I'm reflecting on my situation after being laid off from my job of over ten years. I received a generous severance package, but I'm struggling to figure out how long it will last given my current expenses. My partner and I have been diligent about saving for retirement and paying down debt, but our liquid savings are minimal. We've already cut out all streaming services and entertainment expenses, but I'm still concerned about our budget. Rent is a fixed cost, and while our electric bill is relatively low, we still have other non-essential purchases that add up, especially from Amazon. I'm trying to focus on necessary expenses like groceries, utilities, and insurance, but I'm unsure how to estimate our spending accurately. I’ve heard that we should aim to zero out non-essential purchases, but that feels daunting. If anyone has tips on budgeting during this transition or how to calculate how long my severance might last, I would really appreciate it.

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