It's June! Lets Get Out of Debt with Dave Ramsey - Page 5 - Mothering Forums
Forum Jump: 
Reply
 
Thread Tools
#121 of 192 Old 06-17-2009, 10:45 PM
 
Kyamo's Avatar
 
Join Date: Jun 2006
Location: Canada
Posts: 1,360
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by irishdancer View Post
Hi..this will be long

I am at my wits end. We have so much debt it isn't even funny. Including mortgage, cc's, car, student and personal loans, our debt is 75% of our take home income.
Wow, including mortgage? That doesn't sound high at all if you're including mortgage. Our total including mortgage is more than twice our gross! You must live somewhere with cheap houses.

Anyways, you've got a great plan, good luck sticking to it. You can do it!

Mommy to  N baby.gif, born 2/20/12.

Kyamo is offline  
#122 of 192 Old 06-17-2009, 11:04 PM
 
kittywitty's Avatar
 
Join Date: Jul 2005
Location: The Room of Requirement
Posts: 13,476
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
I need to re-join. We have tons of debt.

Right now it is:

credit card7,179.97
Auto Loan #11,240.19
student loan #112,221.04
Student Loan #24,335.76
student loan # 3 1,118.32
Family 6,000.00

Dh is getting paid 1/3 of what he got last year at his old job to teach summer classes, so that hurts. And the whole $2k he's getting for working all of summer is going to repay family for money we borrowed recently to close on our house. It was $3k more than we had been told originally. Dh wants to pay them back immediately even though we will need his summer pay for bills and moving expenses and they aren't hurting for it, but it's his family. I hate borrowing, but if we could put it off a month...

Anyway, I have been fudging my checkbook to keep from going in the red and I think we have a couple of hundred in savings now because of that. That seems the only way I can do it because so much pops up unexpectedly that I can never seem to keep any put away.

This february, we should be getting back around $13k in taxes, though, with the federal money for buying a house this year and our usual returns, too. So that will all go to family and our credit card and some house repairs we will need to do. There is so much more we need to do, but won't be able to.

AP Mom to 5 knit.gifhomeschool.giftoddler.gif
 
  

kittywitty is online now  
#123 of 192 Old 06-18-2009, 09:44 AM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Trent at the Simple Dollar blog is doing a book review of TMMO that looks like it might be interesting. I love his blog and his commenters. Is there interest here on me linking the chapter discussion each week? http://www.thesimpledollar.com/2009/...-club-edition/
mtm is offline  
#124 of 192 Old 06-18-2009, 09:59 AM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
irishdancer, welcome to the thread! You can do this. Two years to being out of cc debt is what it took us. I hear you on the house thing. We would like a bigger place too. We were bursting at the seams in our condo but we had someone help us figure out some storage solutions, better bedroom solutions and bought ourselves another 2-3 years where we are. That gave us time to get bs2 done and bs3 started. Also, decluttering is an ongoing thing around here.

really my issue (was really poor as a kid and have waaay over compensated, putting us into awful debt). this quote really resonated with me, its my Mom's story. I think now that you recognize it, its much easier to avoid making the same mistakes again.

With regards to your budget, have you tracked your spending yet? That was the eye opener that got us to cut way back on eating out. Looking at the figure and multiplying it by 12 months. Don't make your budget too strict to start if you have problems sticking to it, change that area rather than give up. We can look over your budget if you want a hand with it.


Contrariety, you are doing great with the midwife fund! Did you think you'd have over a third of the money this fast? I think adding to the ffef before the student loans is a good idea in this economy, just don't put them off forever.

kittywitty, nice to see you posting again! Borrowing from family is so hard, I can see why your dh wants to put it on the top of the list. I'd ask him if you can make sure you are current on everything else and make a few payments to family instead of a lump sum. Is there a reason your dh won't work full-time? Does he understand you are sinking under debt and have a new house? I'd ask him if you can go out for a walk and have a financial chat to try and get on the same page b/c 1/3rd less income, mounting debt, new house, you not able to get a job, and him working 15 credits instead of 22 is going to make it really tough to get out of debt.
mtm is offline  
#125 of 192 Old 06-18-2009, 12:06 PM
 
Contrariety's Avatar
 
Join Date: Jul 2007
Location: The UC
Posts: 2,327
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by hollytheteacher View Post
And, your ds is adorable! (just looked at the pic in your sig)
Why, thank you! :

Quote:
Originally Posted by mtm View Post
really my issue (was really poor as a kid and have waaay over compensated, putting us into awful debt). this quote really resonated with me, its my Mom's story. I think now that you recognize it, its much easier to avoid making the same mistakes again.

Contrariety, you are doing great with the midwife fund! Did you think you'd have over a third of the money this fast? I think adding to the ffef before the student loans is a good idea in this economy, just don't put them off forever.
We also didn't have money growing up. I won't say I've driven myself to crazy debt now because of it, though that's definitely the story with all of DH's siblings (DH would be there, too, if I hadn't come along)... though it is definitely the reason I don't have much in savings. Whenever parents got (or get for that matter, they still aren't financially on the ball) money, it was like "Oh! we can do something fun! Let's do something fun!" I inherited that attitude, it's hard to overcome.

I did not think I'd get rolling so quickly on the midwife money. I'm pretty sure I have another $180-ish to put on there this weekend. I really didn't think I'd get halfway so fast. When I did my budget out, I wasn't going to reach halfway until at least the middle of July. This is good, very good, since DH's books and tuition are already calling our names from August. Also, I'm hoping to get at least another $1000 in savings in case I transfer and will have hospital bills to pay.
Contrariety is offline  
#126 of 192 Old 06-18-2009, 04:35 PM
 
Teenytoona's Avatar
 
Join Date: Jun 2005
Posts: 3,909
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Ok, so what do you all do when your trigger situations come up? I've been pretty good about my spending - until now. The kids are coming for the summer and neither DH nor I are good about reining in the spending when we only get to see them once a year (for now). We've looked at the "summer fun for free" thread - I reckon DH will take them bowling a good bit. But as it stands I'm afraid the summer months will mean nothing goes into the $1000 fund.

Also, I've never read the book - but for this emergency fund - do you temporarily put off paying some debts in order to fund it? Because that's not going to happen for us. I'd rather have those things done first.

signature currently in transition
Teenytoona is offline  
#127 of 192 Old 06-18-2009, 04:46 PM
 
cymbeline's Avatar
 
Join Date: Oct 2005
Posts: 700
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Kyamo View Post
Wow, including mortgage? That doesn't sound high at all if you're including mortgage. Our total including mortgage is more than twice our gross! You must live somewhere with cheap houses.

Anyways, you've got a great plan, good luck sticking to it. You can do it!
Seconded -- our mortgage alone is now technically more than 1/2 DH's income. It was only 25% when we were both employed by our business, but now the biz is breaking even on its own and I am unemployed and he is making less than he used to.

Even still, like Kyamo says, you've got a plan. We're just following the plan, step by step, looking forward. When I see the total amount we owe, I want to faint, but we WILL be out of debt before you know it!!!

Mom to : DS1 (11), DS2 (8), DD3 (4), : DS4 (1), and : : :
cymbeline is offline  
#128 of 192 Old 06-18-2009, 05:24 PM
 
Halfasianmomma's Avatar
 
Join Date: Nov 2007
Location: Montreal
Posts: 3,732
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Hi mamas...I've come to join you in the hopes of getting my sorry self out of debt *someday*.

I have a question though, regarding paying down debts from smallest to largest...What if the debt has already been sent to a collection agency and they're requesting the entire amount? Do you "save up" until you can pay the entire amount or try to negociate with the collection agency to bring down the total amount? As i understand it, collection agencies "buy" your debt from companies...
Halfasianmomma is offline  
#129 of 192 Old 06-18-2009, 05:41 PM
 
AllisonK's Avatar
 
Join Date: Feb 2005
Location: Vancouver, WA
Posts: 7,308
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I know I have popped in from time to time with questions but wanted to say that my brother gave us his audio book Total Money Makevoer and it is awesome. I am only in the beginning right now but its awesome!! Combine that with church just did a 4 weeks Dave Ramsey video series. We are contemplating some serious life changing things right now that will allow us to be out of debt in about 3 years. (Gazelle intensity anyone? ) Dh is lucky enough to be in a field where if he gets the right job he can have his student loans forgiven completely. So we are considering one and looking into some others. It would mean moving and a huge commitment/sacrifice on both our parts. Its a bit scary but we are kind of excited. In the mean time we are going to keep plugging away at the EF.

Allison wife and mom to four. 

AllisonK is offline  
#130 of 192 Old 06-18-2009, 07:52 PM
 
irishdancer's Avatar
 
Join Date: Jun 2005
Location: Denver, CO
Posts: 27
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Kyamo View Post
Wow, including mortgage? That doesn't sound high at all if you're including mortgage. Our total including mortgage is more than twice our gross! You must live somewhere with cheap houses.

Anyways, you've got a great plan, good luck sticking to it. You can do it!
Really?? Huh, Dave Ramsey's calculator said it was bad ...but, I think I messed up because I used our net not our gross....We live in Denver, CO. The COL is higher than average, I think, and the real estate market hasn't been hit as bad here as the rest of the USA. We got into our house in 1999, it is "worth" more than double now, but we did some home improvements and got a HELOC, so our equity is almost non-existant.

Thanks for the encouragement...I am actually digging out all of my Ebay items to list for back to school/Fall and will start getting everything ready to list next month and August. All of that money is going to debt. The kids already have enough clothes to last them all of next Fall/Winter (except for shoes)!!!
irishdancer is offline  
#131 of 192 Old 06-18-2009, 08:02 PM
 
irishdancer's Avatar
 
Join Date: Jun 2005
Location: Denver, CO
Posts: 27
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by mtm View Post
irishdancer, welcome to the thread! You can do this. Two years to being out of cc debt is what it took us. I hear you on the house thing. We would like a bigger place too. We were bursting at the seams in our condo but we had someone help us figure out some storage solutions, better bedroom solutions and bought ourselves another 2-3 years where we are. That gave us time to get bs2 done and bs3 started. Also, decluttering is an ongoing thing around here.

really my issue (was really poor as a kid and have waaay over compensated, putting us into awful debt). this quote really resonated with me, its my Mom's story. I think now that you recognize it, its much easier to avoid making the same mistakes again.

With regards to your budget, have you tracked your spending yet? That was the eye opener that got us to cut way back on eating out. Looking at the figure and multiplying it by 12 months. Don't make your budget too strict to start if you have problems sticking to it, change that area rather than give up. We can look over your budget if you want a hand with it.


Contrariety, you are doing great with the midwife fund! Did you think you'd have over a third of the money this fast? I think adding to the ffef before the student loans is a good idea in this economy, just don't put them off forever.

kittywitty, nice to see you posting again! Borrowing from family is so hard, I can see why your dh wants to put it on the top of the list. I'd ask him if you can make sure you are current on everything else and make a few payments to family instead of a lump sum. Is there a reason your dh won't work full-time? Does he understand you are sinking under debt and have a new house? I'd ask him if you can go out for a walk and have a financial chat to try and get on the same page b/c 1/3rd less income, mounting debt, new house, you not able to get a job, and him working 15 credits instead of 22 is going to make it really tough to get out of debt.
Thanks so much for the encouragement. I guess recognizing the source of the problem is the first step, right? I have not tracked our spending and really think it will make me nauseous but, has to be done, not only for me, but for DH. He doesn't have a clue what is going on with our finances. He knows we are in an awful way, but I don't think he realizes the extent of his actions are on our debt (eating out and "little" trips to buy things for the house). For example, I know we spend more than we budget for groceries and eating out. We should actually have an excess in checking at the end of the month, but almost always are juggling something around to avoid overdrafting our account. I keep all of my receipts, so I am going to spreadsheet them for last month to see what the real total was for groceries....
irishdancer is offline  
#132 of 192 Old 06-18-2009, 08:05 PM
 
irishdancer's Avatar
 
Join Date: Jun 2005
Location: Denver, CO
Posts: 27
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
It is actually 62%, which according to the calculator is still high
irishdancer is offline  
#133 of 192 Old 06-19-2009, 11:59 AM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,303
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Here is the debt poster:
http://i24.photobucket.com/albums/c4...P1010003-1.jpg

As you can see we use what ever pen we can find. I was trying to have my ODD help but she is 4 and wants to color the whole thing LOL

We are snowballing the Van on top right now and not worrying about the SL in the middle. Its all principle and felt the Van being something we use was more important to pay off

We should be adding some more color to it as we have a 3 paycheck month...DH wanted a computer...but I convinced him to wait.

Welcome to all the newcomers~~:
p1gg1e is offline  
#134 of 192 Old 06-19-2009, 12:31 PM
 
annethcz's Avatar
 
Join Date: Mar 2004
Location: on the beautiful prairie of MN
Posts: 9,947
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Awesome chart p1gg1e! We have a 3 paycheck month in July also- I love it when that happens!

Perhaps I should make something similar and put it on our wall. We're on BS3 right now, but I'm feeling really discouraged at the moment. We moved into our current home 2 years ago. It's fabulous, except for the fact that it doesn't have air conditioning. I don't mind too much but DH gets soooo cranky in the summer. Theoretically, DH and I are on the same page and both think that we need to wait and build up our savings before getting A/C. But DH keeps bringing it up and asking me if we can afford it, and it's enough to make me want to cry. I don't like being the bad guy, being put in the position where I'm telling DH he can't have what he wants.

When he brought it up AGAIN this morning, I felt so discouraged. I wrote down the total amount currently in savings, plus the amount that we should be able to add this month. Then I handed him the paper and told him that if he could figure out a way to pay for car insurance (due in Aug.), propane (we usually pay for the whole winter in Aug.) and for air conditioning while still maintaining a savings level that HE was comfortable with, that we should go for it. He backed off after that and said that our current plan to build up savings was fine. But I'd bet anything that he mentions it again in the next couple of days. Soooo frustrating. Maybe if we had a chart on the wall he would be able to see our progress and would stop asking if we could afford A/C once a week.

New signature, same old me: Ann- mama of 2 boys and 2 girls, partnered to a fabulous man.
I'm an unintentional weasel feeder and I suck at proofreading.
annethcz is offline  
#135 of 192 Old 06-19-2009, 12:31 PM
 
Teenytoona's Avatar
 
Join Date: Jun 2005
Posts: 3,909
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Alright, mommas, I need a little, "you can do it!" spirit uplift here. I've been projecting and looking at our budget, and assuming things as they are now (with my one income) will stay the same... Well we're not going to be out from under water until about 2015. 6 years. By out from under water, I mean not even done with the non-student loan portion of BS2. (I'm putting student loans on the back burner until after BS3).

I will be 39-40. I'm sure it's better late than never, but nothing like a projection to make you say GEEEEEZ! at yourself and your dumb mistakes and drag one down a little bit. My only hope is I think that my projection may be a little dragged out, in reality it would be more like 2014, but I'm trying to account for what-if's also and it's just still that tight.

I mean, I suppose I could try and look into stepping up in the ranks here at work, but really, I don't want that huge time commitment and the stress that comes with that jump. I think that will wear on me faster than trying to pay off debt by 2015.

I'm not one who can pay the extra bills by sewing or making something (I have no ability in that department), and frankly, I'm gone enough from DD to even consider getting a side job. Maybe when she's older (about 5-6) I can find something on the side for a year or so and make a big push to financial breathing room.

I don't know, what do you all do when you're feeling beat down a little by all this?

signature currently in transition
Teenytoona is offline  
#136 of 192 Old 06-19-2009, 12:55 PM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,303
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Teenytoona View Post
Alright, mommas, I need a little, "you can do it!" spirit uplift here. I've been projecting and looking at our budget, and assuming things as they are now (with my one income) will stay the same... Well we're not going to be out from under water until about 2015. 6 years. By out from under water, I mean not even done with the non-student loan portion of BS2. (I'm putting student loans on the back burner until after BS3).
Are any of your other debts more then what your family makes yearly?

Anything you can sell or down size to get the ball moving faster?

((Hugs)) It can and will get better maybe we just need to help brain storm
p1gg1e is offline  
#137 of 192 Old 06-19-2009, 01:09 PM
 
Contrariety's Avatar
 
Join Date: Jul 2007
Location: The UC
Posts: 2,327
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I love that every Friday is payday for me!

BS1.2: Midwife Fund- $750/1800

I hoped to put more on there today, but I forgot to include Father's Day in my budget.

In the next few weeks, We have a family trip to our cabin coming up, and some concert tickets we committed ourselves to before realizing we shouldn't be spending money on them... but after that, I't's all going to the midwife until textbook season rolls around again.
Contrariety is offline  
#138 of 192 Old 06-19-2009, 01:12 PM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
welcome Teenytoona, I think having a plan in place for the kids visit will help a lot. Getting ideas from the summer fun thread is a great idea. Stock up on lots of ice cream/popsicles so you're not tempted to go, budget for some days at the waterpark if you can fit it in etc. Its hard when you don't see them often.

The basic emergency fund (normally 1000) you are to pull together after you are current on your bills. You wouldn't stop making your minimum payments to fund it. But I'd pay only minimums til you had the fund in place. The idea behind it is to stop any new debt by having a fund available for when life happens.
mtm is offline  
#139 of 192 Old 06-19-2009, 01:15 PM
 
LilyGrace's Avatar
 
Join Date: Jun 2007
Posts: 2,284
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Teenytoona View Post

I don't know, what do you all do when you're feeling beat down a little by all this?
You're not behind. 39-40, and being out of debt except for student loans? That's great! There are many in our parents' generation that are still weighed down by debt accrued in their early life. Just keep being motivated. Extra money? Income tax return? Make it a rule that at least half goes to the bills. Try to save $5 at the end of a pay period in your account to roll over to the next month's bill. Focus not on the end date, but on the fact that you are going to be debt free. That's not wishful thinking, that's fact. It will take a long time to get there, but it also took a while to accrue the debt, too. Just keep thinking, I am doing this and reward yourself for every tiny step.
LilyGrace is offline  
#140 of 192 Old 06-19-2009, 01:20 PM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
annethcz, its tough when its something like a/c. What about picking up a window box for the bedroom or family room area so that he has somewhere to go cool down and you can still save for a big one? We sold our window box on craigslist years ago for cheap.

Teenytoona, you can do this. Really, you can. Sounds like you have an income problem if its going to take you that long to get out of bs2. What we did was get me a p/t job, its only 600 a month but thrown at our debt made it go away so much faster. Do you have the flexibility of overtime at work? Any raises coming? What about your dh? can he generate more income? Do you have any toys to sell that would generate some income? Can you go gazelle and cut expenses?

I'd start with tracking your expenses for a month, write down every dollar in and out and see if you can find ways to stretch your money. then snowflake, every extra dollar goes to debt.
mtm is offline  
#141 of 192 Old 06-19-2009, 01:47 PM
 
Halfasianmomma's Avatar
 
Join Date: Nov 2007
Location: Montreal
Posts: 3,732
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Hypothetical question:

What if you owe Collection Agency XXY a sum of 350$ from some old bill you haven't paid, and you only have 150$ that month to repay debts. Do you call up the collection agency to offer to give them what you have towards repaying your debt? What if Collection Agency XXY only wants the whole sum? Do you wait until you've saved up the rest of the sum before paying it off in whole?
Halfasianmomma is offline  
#142 of 192 Old 06-19-2009, 02:29 PM
 
Teenytoona's Avatar
 
Join Date: Jun 2005
Posts: 3,909
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by p1gg1e View Post
Are any of your other debts more then what your family makes yearly?

Anything you can sell or down size to get the ball moving faster?

((Hugs)) It can and will get better maybe we just need to help brain storm
Let me say, for BS 2 I'm not counting mortgage or student loans. With that said, none of our debts are more than my income, but the credit was pretty crappy, so we're paying more on the monthlies than we otherwise would because of crappy interest rates. Booo on me, but that's where we're at. The biggest is the car loan - we're paying on one and it will be a while yet, and the other car I got off craigslist and it's paid in full. The other bills I have now are just paying off the hospital. And you can bet I'm kicking myself for it because I transferred to the hospital during a homebirth for no emergency reason, just for pain management. (I feel like I'm giving myself major penance for it daily).

I ain't even gonna talk about the mortgage.

Quote:
Originally Posted by LilyGrace View Post
You're not behind. 39-40, and being out of debt except for student loans? That's great! There are many in our parents' generation that are still weighed down by debt accrued in their early life. Just keep being motivated. Extra money? Income tax return? Make it a rule that at least half goes to the bills. Try to save $5 at the end of a pay period in your account to roll over to the next month's bill. Focus not on the end date, but on the fact that you are going to be debt free. That's not wishful thinking, that's fact. It will take a long time to get there, but it also took a while to accrue the debt, too. Just keep thinking, I am doing this and reward yourself for every tiny step.
Well, not counting student loans, mortgage or whatever else might come our way. But thank you! That's alot to hear that it's actually not that bad a deal. I plan to use income tax return on some of our debts, but I am not good at forecasting it, so I don't count that as a constant.

Quote:
Originally Posted by mtm View Post
Teenytoona, you can do this. Really, you can. Sounds like you have an income problem if its going to take you that long to get out of bs2. What we did was get me a p/t job, its only 600 a month but thrown at our debt made it go away so much faster. Do you have the flexibility of overtime at work? Any raises coming? What about your dh? can he generate more income? Do you have any toys to sell that would generate some income? Can you go gazelle and cut expenses?

I'd start with tracking your expenses for a month, write down every dollar in and out and see if you can find ways to stretch your money. then snowflake, every extra dollar goes to debt.
My job is salaried and really very much a within the hours I work sort of thing. I think it's fair money for what I'm doing. I'm leary of getting another job though because I'm already gone 11 hours a day, five days a week. DH's income does not generally go to communal expenses as he has the DSC (well, his DC). I'm not a "toys" sort of person, he is sometimes, but he really hasn't bought anything in more than a year (proud of him!!). I hem and haw over buying things like a new lock for the back door and then decide to wait until another time. My biggest "thing" I spend money on is organic seeds and that budget was $25 for this year.

I admit our traps are when we have the kids coming because we want to make the most of our time together, and so we will tweak things a little here and there to accomodate them. That's only for 3-4 months of the year (at this point). I think that this is the only place we can "go gazelle" because that's mostly how we live.

I track my expenses very closely and have a very fixed budget we stick to. We kind of have to because all my income alone goes to our expenses/bills. It just seems that the day-to-day things add up (electricity, gas, phone, groceries etc). I'm really really anal about certain cost-saving things like: checking the weather to make sure I can do laundry and dry it outside on the line (otherwise, I dry it on the line inside the basement, but I like the outdoor feel better), rather than using the dryer. I've been going around the house trying to cut electricity use and trying to reuse water at least one time over (rinse water for dishes into the garden and whatnot). I keep all the fluctuating bills on "budget" so I don't get hit with any outrageous jumps from month to month. My grocery budget (for the months it's just DH, DD and I) is $60/week, and I don't think cutting that back would work very well. We don't have cable, have a land line and only use prepaid cell phones. I rarely use mine as it is anyways. I think, short of going off the grid, we're pretty well pared down. Far more than other folks I know are.

I suppose I could look at "stepping up" in the job, but really it's not something I want to do. It means buckets of stress and at least 60-70 hours a work week (not counting commute) and I honestly used to work that way (in this same field) and never want to again. I am not sure I want to look at a second job yet anyways due to the time I'm away from DD already. With commute I"m gone 11 hours a day, 5 days a week. She's only 15 months old and I feel like I miss out on so much to begin with. IDK. I suppose if I could find a Saturday only type job I could manage it. But as I've said before, I've overworked myself many a time before and am very hesitant to do so again. Maybe I could if I set a time limit to the job. Like only for X amount of months.

Anyways... I know I'm giving you alot of "I can't" and "I won'ts" but I'm trying to work within my limits so I don't turn into a horrible crabbing monster, because my family doesn't need that again.

I feel in a wierd way that this debt is manageable, more so than any debt I've ever had, but the year 2015 seems so very far away. I felt like I was doing better than that. YKWIM? And I'm dissappointed. I just want to get to a point where I CAN buy the healthier butter because the extra $3 won't break the budget.

signature currently in transition
Teenytoona is offline  
#143 of 192 Old 06-19-2009, 03:26 PM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Teenytoona, am I understanding that most of your dh's salary go to child support and other kid stuff? That sounds like your problem right there. Are the kids older so that there is an end in sight? What a tough situation. You sound like you are doing good already on the frugal stuff.
mtm is offline  
#144 of 192 Old 06-19-2009, 03:28 PM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Halfasianmomma View Post
Hypothetical question:

What if you owe Collection Agency XXY a sum of 350$ from some old bill you haven't paid, and you only have 150$ that month to repay debts. Do you call up the collection agency to offer to give them what you have towards repaying your debt? What if Collection Agency XXY only wants the whole sum? Do you wait until you've saved up the rest of the sum before paying it off in whole?
I think from what I've read, that you can make them an offer of 150 and see if they accept it but if they do make sure you get it in writing that the debt is now paid in full. I'm not sure about paying in installments but don't pay with a personal cheque if you do instalments, you don't want them to have your banking info.
mtm is offline  
#145 of 192 Old 06-19-2009, 03:51 PM
 
Halfasianmomma's Avatar
 
Join Date: Nov 2007
Location: Montreal
Posts: 3,732
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
mtm...thanks for the response! I hadn't thought of making the collection agency an offer...Wow, I'm getting all nervous thinking about what I'm going to say!
Halfasianmomma is offline  
#146 of 192 Old 06-19-2009, 03:54 PM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,303
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Halfasianmomma View Post
Hypothetical question:

What if you owe Collection Agency XXY a sum of 350$ from some old bill you haven't paid, and you only have 150$ that month to repay debts. Do you call up the collection agency to offer to give them what you have towards repaying your debt? What if Collection Agency XXY only wants the whole sum? Do you wait until you've saved up the rest of the sum before paying it off in whole?
Make sure what ever you do offer and IF they accept it. YOU GET IT IN WRITING FIRST...tell them up front. I want this in my mail box and then you ( they) will be sent a check.
p1gg1e is offline  
#147 of 192 Old 06-19-2009, 03:55 PM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,303
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Teenytoona View Post
Let me say, for BS 2 I'm not counting mortgage or student loans. With that said, none of our debts are more than my income, but the credit was pretty crappy, so we're paying more on the monthlies than we otherwise would because of crappy interest rates. Booo on me, but that's where we're at. The biggest is the car loan - we're paying on one and it will be a while yet, and the other car I got off craigslist and it's paid in full. The other bills I have now are just paying off the hospital. And you can bet I'm kicking myself for it because I transferred to the hospital during a homebirth for no emergency reason, just for pain management. (I feel like I'm giving myself major penance for it daily).

I ain't even gonna talk about the mortgage.
How much of this debt is the car?
p1gg1e is offline  
#148 of 192 Old 06-19-2009, 04:05 PM
 
Teenytoona's Avatar
 
Join Date: Jun 2005
Posts: 3,909
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by mtm View Post
Teenytoona, am I understanding that most of your dh's salary go to child support and other kid stuff? That sounds like your problem right there. Are the kids older so that there is an end in sight? What a tough situation. You sound like you are doing good already on the frugal stuff.
Yes. The kids are older-ish 17, 10 and 7.

Quote:
Originally Posted by p1gg1e View Post
How much of this debt is the car?
The car is the biggest portion. I know not good, but it is what it is.

signature currently in transition
Teenytoona is offline  
#149 of 192 Old 06-19-2009, 04:07 PM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,303
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Teenytoona View Post
Yes. The kids are older-ish 17, 10 and 7.


The car is the biggest portion. I know not good, but it is what it is.
Why not sell the car and buy a cheaper one? maybe you could cut some of you debt that way.
p1gg1e is offline  
#150 of 192 Old 06-19-2009, 04:18 PM
 
Teenytoona's Avatar
 
Join Date: Jun 2005
Posts: 3,909
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by p1gg1e View Post
Why not sell the car and buy a cheaper one? maybe you could cut some of you debt that way.
I don't think we'd get out of the debt enough. I mean, we'd have to use the sold money to buy a new car, so none of it would go to the car's debt. Unless you've got an idea I don't know about... I'm all ears.

signature currently in transition
Teenytoona is offline  
Reply

Quick Reply
Message:
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0
Options

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page


Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off