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Getting out of Debt in November! - Page 2

post #21 of 76

I just picked up a copy of Dave Ramseys book at a thrift store for $1 today. I guess I failed at the no spend challenge but hopefully it will help me learn more about how to build my credit up then just reading online has.

post #22 of 76

MamaYogiBear, I think that you will find reading DR's book inspiring.  Each baby step that my husband and I have taken toward financial freedom has been precious. We have been budgeting for almost a year now and snowballing our debts since Jan. I love to look at our spreadsheet and see how much we have paid off in debt since then. It inspires me to keep going, even when we have a set back like needing new tires on my car but this time we were able to cover that expense with our emergency fund, rather than a credit card.

post #23 of 76

I have to check if my library has his book, since I haven't read it either!

post #24 of 76
Quote:
Originally Posted by lilacvioletiris View Post

MamaYogiBear, I think that you will find reading DR's book inspiring.  Each baby step that my husband and I have taken toward financial freedom has been precious. We have been budgeting for almost a year now and snowballing our debts since Jan. I love to look at our spreadsheet and see how much we have paid off in debt since then. It inspires me to keep going, even when we have a set back like needing new tires on my car but this time we were able to cover that expense with our emergency fund, rather than a credit card.


Thanks, I figured the dollar would be a good investment.

post #25 of 76
Quote:
Originally Posted by mamayogibear View Post


Thanks, I figured the dollar would be a good investment.


you gotta spend money to make money ;)

post #26 of 76

I'm thankful that this thread is so active. I have made four offers on houses since I last posted an update. Two of them were not accepted and I should hear about the other two by morning. We never did shift focus across the Bay. Still holding that as a last resort. I'm really tired of house hunting. I can't wait to be on the other side, moving into my house. Won't take much to move in as we lost almost all of our belongings to rodents in our storage last year.

post #27 of 76

Exciting trekkingirl, hopefully one of the offers is accepted and you can get moved into a house soon.

 

I am excited.  My DH finally got his reimbursement for his educational expenses.  Granted they don't cover the lab fees for his tool and die associates degree he is working, and lab fees are a big part of it, but they covered 90% of the rest of his tuition.  Yeah! We are going to pay off a couple of our little credit card debts and save the rest for our IVF procedure that will be next summer.  We are about half way to our needed amount of money for the IVF procedure and I think that our income tax refund will cover that. I was beginning to lose hope that the reimbursement would ever come since it has been so long since he submitted the paperwork for it.

post #28 of 76

trekkingirl it is a frustrating process, isn't it?  Soon it will be over and you will be moving in! 

 

Lilac I'm glad to hear that DH got his educational reimbursement!  How exciting that your IVF treatment is getting closer and will be fully funded by that time!     

 

I'm awaiting my paycheck for working tons of extra shifts in the last 2 weeks!  I can't wait to see what it has amounted to!  Also I will hopefully be getting my first paycheck from my new job in the next week or 2!    

post #29 of 76
Thread Starter 

trekkingirl - I hope it's good news for you soon!

mamayogibear - I hope you are liking Total Money Makeover. Of the books I've read of his - that one is my favorite.

 

This has been a rough month for me so far trying to stick to the budget. We had another house emergency - water pump for the well. Monday night we lost all water to the house - fixed by Tuesday afternoon, so that was good. I took $250 that I had set aside for another bill due at the end of the month and gave it to the repair company.

 

So I was able to pay cash but now I have no idea how I am going to pay that bill due November 30th - I feel like I have just prolonged the crisis and created anxiety for myself as I try to figure out a solution.

post #30 of 76

UGH I AM SO MAD!!!

 

I feel like everything we've been working on has been thrown out the window this month. I know things could be so much worse, but I'm frustrated and need to vent. So please forgive me. 

 

I decided to start DD1 in preschool on campus again, which has been great. I still think it was a great decision. It's expensive though and we weren't planning on starting her again so soon, so it was a financial burden. We decided to divert this month's snowball money towards it, which was the first time we've ever done it and I didn't plan on doing it ever again. I then decided that I would pay the preschool with the emergency fund and then pay back the emergency fund with the money from the snowball after the 20th. I figured we'd be fine until the money comes on the 20th, but of course, here comes Murphy's Law. 

 

As a compromise for my husband, we decided to do just $500 towards the emergency fund. Paying $228 out of that to the preschool (and the fact that we owed it a little bit from a past emergency that we were paying back) means we have less than $250 in it. Of course, our car breaks down. I have $50 in the car repair fund, from the fact that money has been moved out of it a few times and we just registered a car last month. So that means that we don't actually have enough for the car repair. A repair that the Toyota dealership said is dangerous and therefore we should just leave the car there in the parking lot until the part comes in (it's leaking fuel). This sucks! I am so mad! 

 

Yesterday though, I was being super grumpy when my husband and I started talking about it. He told me that I need to stop stressing about it and we made a plan. It's not ideal, but it's what is going to have to work. The car will go on the credit card and we will pay it off after my husband gets paid on the 20th. The next two months, our snowball will go to the emergency fund (which, my husband reminded me, is priority over snowball according to DR). This will get us back up to $500. Then afterwards, we're going to put $100 of the snowball to the emergency fund until we get up to the recommended $1000. It sucks. It wasn't in my original plan, but it'll work. We'll be fine.

 

Alright, I'm done venting. Sorry about that! 

post #31 of 76

lactatinggirl -

 

Relax and breathe....life is what happens when you are busy planning, yes?

 

Your "mistake" if you want to call it that was registering for preschool before you were financially ready, and using your "emergency fund" cash for something that wasn't truly an emergency.

I'm def not trying to be critical, and i'm sure you are looking at it now this way....but there ya go.

Relax and reboot as we say in my line of work :)

post #32 of 76

We didn't get any of our offers accepted, but I just put an offer on another house today. Find out sunday. NAK

post #33 of 76

orangemomma, is there anyway to get a little extra money between now and the 30th?

 

lactatinggirl, it is such a tough call - I know it is hard for me, personally to just ignore the $1000 we have in the bank. I know I don't want to use the money for an emergency if it truly isn't one. My DH and I had been talking about how we could get the rest of the money we need for IVF and he was suggesting the emergency fund and I won't have any of it - I want that cushion to feel more secure in our finances. I guess you can chalk your experience up as a learning experience, get your basic EF funded again, and move on. Would taking your DD out of preschool be an option to do that quicker?

 

trekkinggirl, hopefully this offer will be the one.

 

AFM, finished a little dress that I am swapping with a lady who made a giraffe hat and diaper cover for my sister.  I have been using up fabric I have in my stash. This dress is particularly cute. I need to get more organized about sewing and selling what I sew again to make a little extra money.

700

post #34 of 76
Quote:
Originally Posted by trekkingirl View Post

We didn't get any of our offers accepted, but I just put an offer on another house today. Find out sunday. NAK


Aw, Im sorry. Have been reading/following your updates....fingers crossed for this new offer.

 

lilavioletiris - that dress is adorable! (and i just figured out your username, as I typed it haha)

 

lactatinggirl - good advise from you dh. keep plugging away.

 

Me, I am getting the urge to buy a few christmas gifts - ones that I have to order online (plaque some photos, fabric to cover 2 small ottomans, and a few small gifts), but holding off, trying to distract myself w/ other projects I already have in house and waiting until the next few pays, which I have allocated spending / christmas money instead of adding to the cc. Sometimes that is hard to convince myself to wait, when I know Ill have the cash in a few weeks.

post #35 of 76
Quote:
Originally Posted by Basylica View Post

lactatinggirl -

 

Relax and breathe....life is what happens when you are busy planning, yes?

 

Your "mistake" if you want to call it that was registering for preschool before you were financially ready, and using your "emergency fund" cash for something that wasn't truly an emergency.

I'm def not trying to be critical, and i'm sure you are looking at it now this way....but there ya go.

Relax and reboot as we say in my line of work :)

 

Yeah, I should have just waited until the 20th to pay the preschool bill, but I thought I was doing the right thing by not letting it loom over my head. Oh well, I guess you live and you learn. 

 

 

Quote:
Originally Posted by lilacvioletiris View Post

 

lactatinggirl, it is such a tough call - I know it is hard for me, personally to just ignore the $1000 we have in the bank. I know I don't want to use the money for an emergency if it truly isn't one. My DH and I had been talking about how we could get the rest of the money we need for IVF and he was suggesting the emergency fund and I won't have any of it - I want that cushion to feel more secure in our finances. I guess you can chalk your experience up as a learning experience, get your basic EF funded again, and move on. Would taking your DD out of preschool be an option to do that quicker?

 

I could not put her back in the preschool next semester and that would save money, but I'm going to keep her in. Honestly, with the stress of school, it's worth it to me. That extra time is really helpful with getting my homework done. My grades are higher and my stress levels are lower. Plus, by having her in the preschool now, it means she'll for sure be able to be in it next year when I really need it (and for the full day preschool rather than the 2.5 hour a day), which is awesome because they have long waiting lists. 

 

I do like the bit about ignoring the EF though. I need to do that because I think we use it as a fallback too much. For regular expenses we don't touch it, but it seems like every time something big comes up we end up dipping in it, which is because I move money around in the folders too much. I think that's part of the root problem. I need to stop moving money around so that the ones that need to build up (e.g. car repairs) actually build up. Maybe I should keep them at home? 

post #36 of 76

Sunrise, resist the credit card!  Resist!  You will feel so much better if you must purchase your Christmas gifts with money that is already in your account.  Now online shopping is great because there is less risk of impulse spending, at least for me.

 

lactatinggirl, it makes sense why you made the jump to preschool for your mental health and future needs.  Now you just have to work on your EF.  Something that DH and I have done with our EF has been to put it into ingdirect.com so it is still "fluid", but it takes 2 days to transfer it back to our checking account to use it. It helps us not spend it frivolously on "necessary" things. indirect.com also lets you have several accounts that you can "name" with the object you are saving for - we have our EF, immigration, IVF, car maintenance,  and several other categories of known but not monthly expenses. Having it in a separate bank and in separate accounts helps me to see, oh, yeah, we have enough for an oil change, I will transfer it back to checking, or we need money to cover DH's next round of classes, so we transfer that back.  Plus, it pays a little better interest than my local credit union does so the longer it is in the savings account, the better.

post #37 of 76
Quote:
Originally Posted by lilacvioletiris View Post

Sunrise, resist the credit card!  Resist!  You will feel so much better if you must purchase your Christmas gifts with money that is already in your account.  Now online shopping is great because there is less risk of impulse spending, at least for me.

 

lactatinggirl, it makes sense why you made the jump to preschool for your mental health and future needs.  Now you just have to work on your EF.  Something that DH and I have done with our EF has been to put it into ingdirect.com so it is still "fluid", but it takes 2 days to transfer it back to our checking account to use it. It helps us not spend it frivolously on "necessary" things. indirect.com also lets you have several accounts that you can "name" with the object you are saving for - we have our EF, immigration, IVF, car maintenance,  and several other categories of known but not monthly expenses. Having it in a separate bank and in separate accounts helps me to see, oh, yeah, we have enough for an oil change, I will transfer it back to checking, or we need money to cover DH's next round of classes, so we transfer that back.  Plus, it pays a little better interest than my local credit union does so the longer it is in the savings account, the better.

 

Oh that's a great idea! I've never heard of that! It would be great to be able to put stuff like car repairs in that too so that I don't take money out of their folders. :-P 

post #38 of 76

Thinking of this concept from The Tightwad Gazette as the holidays approach.

700

 

We are going to do a small RESP contribution for DS2 since he's so little, and stick with the "something you want, something you need, something to wear, something to read" philosophy for DS1 this Christmas. We'll craft something for each extended family unit (usually about 8- one something for each of our siblings and their famillies).

post #39 of 76

Sunrise, do you have extended family that would appreciate the suggestion of gifts by chance?....let THEM get those items? I just did that with my family. DS had an online wishlist, I didn't want to condone anymore STUFF coming into the house, grandparents will gift stuff anyway, so they were happy for the suggestions of items he actually wanted and it meant less work for them. So, I got to shop online without actually using any of my own money (though I admittedly put it on a credit card until the stuff arrives and they pay me for it duck.gif).

post #40 of 76
Quote:
Originally Posted by eirual View Post

Sunrise, do you have extended family that would appreciate the suggestion of gifts by chance?....let THEM get those items? I just did that with my family. DS had an online wishlist, I didn't want to condone anymore STUFF coming into the house, grandparents will gift stuff anyway, so they were happy for the suggestions of items he actually wanted and it meant less work for them. So, I got to shop online without actually using any of my own money (though I admittedly put it on a credit card until the stuff arrives and they pay me for it duck.gif).

 

Good idea - the fabric I want to buy is for me, I could certainly send along the link to someone and ask for it for Christmas!    The other thing (enlarging photo and plaquing them), is a gift I want to make to give to my niece

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