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It's June! Lets Get Out of Debt with Dave Ramsey - Page 3

post #41 of 192
6/4/09 at 2:29pm
Thread Starter 
Contrariety, I was wondering where you were hiding. Glad to see you back posting again!

p1gg1e : Great work! Look out car loan, you're next to go!

AllisonK, sounds like you've found a good solution for camp. If there's anyway possible, I'd make it work with one car and save up the money esp if its just going to be 3-4 months. Any chance you can do homeschool outings around your place? Arrange playdates at your place?

tinahiggins, welcome! Sounds like you two will do just fine. If you want to post a budget we can help you with it.

cymbeline, great job getting everything organized. That really is the most important thing you can do, get a handle on what's coming in, what's going out and setting your budget. You can do this!

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post #42 of 192
6/4/09 at 7:52pm
Quote:
Originally Posted by mtm View Post

AllisonK, sounds like you've found a good solution for camp. If there's anyway possible, I'd make it work with one car and save up the money esp if its just going to be 3-4 months. Any chance you can do homeschool outings around your place? Arrange playdates at your place?
I talked with DH last night and told him that I know he thinks he will come home to crazy mom from us being without the car all summer but that it was something I was willing to sacrifice. And that some days he comes home to crazy mom when I do have the car so whats the difference Well apparently he had been thinking since the last time we talked about this and had decided that not charging it like I had talked about was the way to go. He had just failed to communicate that he now agreed with me. So saving for a car here we come...

Question: We are having a yardsale on the 20th and part of me wants to sell almost everything. DH thinks I have gone overboard. I mean I want to sell our dining room table and just use the folding craft table to eat on. How did you decide what would be worth it to sell and what you should keep? I have even considered selling the good computer and buying a cheap laptop to use for the next while. We could sell the current computer (though we were smart and did pay cash for it!!!) and almost fully fund the EF even if we take out a few hundred to buy a cheap laptop. Am I going crazy?
post #43 of 192
6/4/09 at 8:14pm
Quote:
Originally Posted by AllisonK View Post
Question: We are having a yardsale on the 20th and part of me wants to sell almost everything. DH thinks I have gone overboard. I mean I want to sell our dining room table and just use the folding craft table to eat on. How did you decide what would be worth it to sell and what you should keep? I have even considered selling the good computer and buying a cheap laptop to use for the next while. We could sell the current computer (though we were smart and did pay cash for it!!!) and almost fully fund the EF even if we take out a few hundred to buy a cheap laptop. Am I going crazy?
Don't sell anything that you would want to replace later when you have more money. You'll pay more to get a new one than you'll get in the garage sale. So unless you want to eat off a folding craft table for the rest of your life, I'd keep the dining room table. Get rid of stuff you don't use anymore!
post #44 of 192
6/4/09 at 9:56pm
Quote:
Originally Posted by cymbeline View Post
Way to go, p1gg1e!!!

Well, I did it.

I went through the giant stack of bills and put them in my inbox.

I reconciled our bank accounts, both personal and business.

I wrote down all of our debts.

I created a debt elimination plan. With hard work and mindfulness, our business will be debt free by March 1, and our family will be debt free in just 12 months (other than the mortgage).

I created both a business budget as well as a household budget.

I shared all of the info with DH. He is on board. We are both very nervous.

A few years ago, our income was double what it is now, and our biz was booming. I realize now I have been in denial for months about the reality of our new situation, and we have both been living the reality of the past and not the present. I am ready to face it head on now, and I am really grateful that all of you are here!!
You can do it!!
post #45 of 192
6/4/09 at 10:03pm
Well I took the "job" its 3 days a week. some 3-5 hours those days I would be watching. the kids are 7,9, 10 I think. The oldest has a allergy and the youngest has trouble with #2's on the potty still ( its a medical issue) SO I'm not sure what to charge..she is DH's cousin. I'm thinking $40 a week..they are older , I told her to bring drinks they like and snacks..we don't have fun food here much with our dietary issues. I know she makes vary little so I don't want to charge much and the older girls are easy.

So that would be $160 a month ...not sure what to do with that...DH says I should use it for me...I tend not to do anything for myself..I feel though I need to help more then I do other then being a mizer LOL

Maybe I'll use half of it to pay on the car....or buy a new computer..this one 5 years old and SLOW....

Oh the choices!
post #46 of 192
6/5/09 at 3:00am
:
post #47 of 192
6/5/09 at 12:12pm
Thread Starter 
I thought this was an interesting post on DR

http://www.four-pillars.ca/2009/06/0...ancial-expert/
post #48 of 192
6/5/09 at 12:38pm
Quote:
Originally Posted by p1gg1e View Post
Well I took the "job" its 3 days a week. some 3-5 hours those days I would be watching. the kids are 7,9, 10 I think. The oldest has a allergy and the youngest has trouble with #2's on the potty still ( its a medical issue) SO I'm not sure what to charge..she is DH's cousin. I'm thinking $40 a week..they are older ,<snip>

Maybe I'll use half of it to pay on the car....or buy a new computer..this one 5 years old and SLOW....
I would use it to buy a new computer. You will mostly likely need one sooner rather than later... And rather than it being an "emergency" start saving now.

I would also charge much more than that. $40 a week is way too cheap IMO. My sister doesn't make a lot of money but when I watch her kids I charge $20 a kid per day... or $2.50 an hour per kid (granted she has toddlers). If you want to give your cousin a deal I would charge her $5 an hour for all the kids. Thats MORE than fair IMO. At $40 a week your making less than $2 an hour. I would just feel taken advantage of at that point. Not to mention that you still have to change diapers.
post #49 of 192
6/5/09 at 1:36pm
Thread crashing, sorry!
Quote:
Originally Posted by AllisonK View Post
I have even considered selling the good computer and buying a cheap laptop to use for the next while. We could sell the current computer (though we were smart and did pay cash for it!!!) and almost fully fund the EF even if we take out a few hundred to buy a cheap laptop. Am I going crazy?
I wouldn't sell your computer. The depreciation them is huuuuge, and if it's a good one it will still outlast a couple of cheap laptops.
post #50 of 192
6/5/09 at 2:22pm
Okay...May wasn't a fabulous TMMO month for us...tons of stuff had to go on hold so we could fork over nearly $300 for an AC, not to mention more baby stuff. Oh, and my birthday, Dh's birthday...blah blah blah...i mean, we paid cash but i still would've preferred to put it towards our debt!

That being said...today is first paycheck of the month day! Yay for fresh months and fresh starts!!

DH got nearly $200 MORE than expected on this paycheck, i am totally unsure of how that happened, as he was away on business and it seemed like he wasn't even getting 40 hours a week...but YAY!!!!

Our debt balance is down to $158.20!!!!!

I cannot WAIT to pay it off!! 2 more weeks, max! YAY YAY YAY:::
post #51 of 192
6/5/09 at 2:34pm
: Payday!

I put everything extra this week toward the midwife fund.

BS1.2: $250/1800.


Well... it's a start!
post #52 of 192
6/5/09 at 9:02pm
BS #1 - $1000 EF Done

BS#2

Consolidation Loan: 4324.79/13882.08 PAID
Credit Card: 20/1143.31 PAID
Student loans - Deferred til Nov 09

The beginning of this month is slow slow slow to start off.. but i picked up extra hours at work and will really do some damage on the CC... it should be done by July 3... so i am happy... then on to pay off my consolidation loan...
post #53 of 192
6/5/09 at 11:48pm
Quote:
Originally Posted by beansmama View Post
Our debt balance is down to $158.20!!!!!

I cannot WAIT to pay it off!! 2 more weeks, max! YAY YAY YAY:::
Awesome!!!! Can't wait til I can say the same thing! :
post #54 of 192
6/6/09 at 12:00am
Well, in the last 5 days, we have gone from Pre-Baby Steps to BS2!

This will be a bit of a journey for us as we currently owe more than $85K in both business and personal debts. But as long as we follow our plan...

All biz debt to creditors will be paid off by December 1.

All biz revolving credit debt will be paid off by March 1.

All personal revolving credit debt will be paid off by April 1.

And our auto and student loans will be paid off early by next November 1.

It is very ambitious for us, but DH and I have discussed it and I believe we can do this!!

I have to admit that I am nervous about having only $1K in EF during this time. That wouldn't cover half our mortgage payment. If the biz does better than we project, we will put every extra penny into EF in order to try to get a minimum of 1mo expenses saved up, just in case.
post #55 of 192
6/6/09 at 1:27am
A-ha! Sticky-ed. Here it is. I was really confused for a minute...
post #56 of 192
6/6/09 at 10:16am
I was getting lost so i sent a msg to annettemarie to sticky this...
post #57 of 192
6/6/09 at 3:27pm
Wow--all these posts are so inspiring!! We're still on BS#2. I'm looking to be debt free except for mortgage August, 2009. This is huge for us. At one point we had $80,000 student loan, $10,000 credit card debt, and $16,000 car loan. All that is left (amazingly) is $2000 cc debt (mostly from cord blood banking for ds2). We are on month #2 of no credit card usage, and I just paid off the auto loan with the income tax refund. I'm excited and a bit nervous!
post #58 of 192
6/6/09 at 3:30pm
Great job PA - it must feel so : to have made it SO far!!!
post #59 of 192
6/6/09 at 3:53pm
Thanks KailuaMamatoMaya! It does feel great. I used to stare at my student loan balance thinking that I would *never* be able to pay it off. It really can be done.
post #60 of 192
6/6/09 at 6:22pm
Shame on me today...

We went to my church and they were doing this offer where you could get a free 8X10 photo of your family (and a free church directory with everyone's pic) in it.

But then of course, they showed me all the cute poses of my ds and we ended up paying 100.00ish on photos!

I will say however, he is 21 months and we've NEVER had professional pics done so it was about time

Then, we went to Friendlys for free cone day, but ended up buying some appetizers too for snacks

Guess my snowball won't be as big this month

I promise to try harder! I'm doing really well, this was my first splurge/mishap since I started in March. AND, I used cash, so at least i did NOT add to my debt
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Mothering › Mothering Discussion Forums › Natural Family Living › The Mindful Home › Frugality & Finances › It's June! Lets Get Out of Debt with Dave Ramsey