Getting out of debt in JULY!! - Mothering Forums
Forum Jump: 
Reply
 
Thread Tools
#1 of 44 Old 07-02-2011, 05:43 PM - Thread Starter
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,418
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

 

Do you want to get out of debt? Start living on a budget? Be able to start saving? Then this is the thread for you! Some of us use Dave Ramsey's method but please join us even if you're following someone else/your own plan. All are welcome!

 

Here's DR's plan:

Pre-Step 1: Get current on your debts and do a budget
0.1 No new borrowing.
0.2 Talk with spouse and get him/her on the same page as you concerning finances.
0.3 Do a written budget
0.4 Temporarily stop all retirement contributions
0.5 Get current on all the basics (Shelter, Food, Utilities, Basic clothing)
0.6 Amputate "toys" (bikes, boats, ATV's etc) to help snowball
0.7 Cut lifestyle (Cut cable, cell, extras, eating out) and/or get a second job to raise $1000 EF.
0.8 Get current on ALL bills

BS1 $1,000 to start an Emergency Fund
1.1 Chop up/freeze CC's (You have an EF now)
1.2 Get Health insurance NOW if in the US
1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died.
1.4 Amputate cars that you can't pay off within 24 months

BS2 Pay off all debt using the Debt Snowball
2.0 Do the debt snowball, paying all your debts from lowest BALANCE to highest.

BS3 Three to six months of expenses in savings
3.1 Start car replacement fund
3.2 Save up 20% for home purchase OR pay down existing mortgage to the point you can drop PMI.
3.3 Start furniture or other non-essential stuff replacement fund

BS4 Invest 15 percent of household income for retirement

BS5 College funding for children

BS6 Pay off home early

BS7 Build wealth and give! Invest in mutual funds and real estate

Here's the link to Dave Ramsey's website: http://www.daveramsey.com or if you want a good DR discussion forum, www.llnoe.com is good but hardcore. Gail vax Oxlade's Til Debt do Us Part is great tv show, very motivating. Her website is: http://gailvazoxlade.com/blog Others like Suze Orman or Mary Hunt, really doesn't matter whose method you use, just start the process to getting out of debt.


Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#2 of 44 Old 07-02-2011, 05:51 PM - Thread Starter
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,418
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I'm not sure where June went, but here we are in July! (I was counting months until DS's birthday and it seems hard to believe cold November's only 4 months away!).

 

DH sold his VW van, which is paying for house repairs/upgrades. Hoping to be able to rent our house out for mid-July, but we'll see how it goes! It will be nice to get someone in there so we don't have to pay our mortgage plus our own rent for where we're currently living (along with my work having come to an end).

 

When I'm at our house I miss it, but then I remember how far we're coming by not actually living there any more (as long as whoever's living in it is actually taking care of the mortgage). I'm happy where we are. We've cut our living expenses by $700/mo by moving out, and that's not even including the extra car we were able to ditch to save on transportation too. 

 

I'm excited for the new month! :)


Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#3 of 44 Old 07-02-2011, 10:01 PM
 
kitteh's Avatar
 
Join Date: Jun 2009
Location: Santa Monica
Posts: 1,540
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Hey ladies

 

I haven't posted here in ages, but I've been following the threads and paying down debt for about a year. When I graduated from college in 2009 I had $25K in credit card debt and $25K in student loans and absolutely no savings. I had my head stuck in the sand and felt that since I was a student it was ok for me to be in debt. Well, right before I graduated I spent a year studying in Chile, and of course I fell in love.

 

Suddenly I had a lot of motivation to get rid of the debt once and for all so that DH and I could start our lives together. I moved back to the States and got a job a place to live sharing an apartment with my brother while my DH stayed in Chile for 4 months waiting for the visa to be processed. We weren't planning to have a wedding because we knew we couldn't afford it, just a trip to the courthouse. But my mother was very generous and paid for us to have a really lovely ceremony in her backyard.

 

Anyhow, as soon as he arrived my plan was for him to get work authorization and find a job so we could really crack away at the debt... but then I found myself pregnant (actually we conceived THE DAY he arrived in the US. Heh, I guess we REALLY missed each other.)

The pregnancy was a pretty big shock to me and I was a little freaked out at first. DH didn't even have authorization to work at that time and I was just waitressing lunches. Things certainly looked bleak.

 

Well, fast forward two years and we have an amazing, beautiful, super smart little girl and we have managed to get the credit card debt down to $5K and the student loan debt to $19K. We also have $1200 in savings and $300 in an account for our LO. DH works as a valet and I was unexpectedly fired from the waitressing gig in March, so now I'm collecting unemployment and staying home with our little girl, and hoping to use this time to figure out what my real career path should be. (I'm hoping not to have to wait tables ever again!)

 

So we've done pretty well, I'd say. The sudden loss of my job was a definite roadblock. We were hoping to be out of debt by this time, but we've had to drastically reduce our monthly payments from around $1500 a month to around $500 for debt repayment. Our debt spread looks like this:

 

$800 @ 21.99% BofA
$667 @ 14.99% Amex
2,100 @ 6.99% BofA
1,500 @ 0% (promo APR which ends in September, then it's up to 21%) CapOne

 

I think our plan for this month is to pay off the high interest BofA. We'll probably have to take $200 out of savings to do that. I just got a balance transfer offer for 12 months at 0% so I think we are going to transfer the Amex with that and maybe $1400 from CapOne once that interest rate shoots up. We'll pay about $85 in transfer fees, but then we'll have a lot more time and breathing room to pay off the rest.

 

So that's my story! Sorry for the monster post! But I plan to check in on this thread a lot more now that our finances are tighter. I think the accountability will help us stick to the plan.


Married 12/08 to Chilean DH and mama to DD 2/2/10. We're a bilingual home and we familybed1.gif and toddler.gif

 

Expecting #2 in late June!

kitteh is online now  
#4 of 44 Old 07-03-2011, 02:24 PM
 
jenrett's Avatar
 
Join Date: Oct 2009
Posts: 197
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Hi Mamas,

 

My DH and I are very lucky - we have actually eliminated most of the debt in our lives, including the small business we own.  However, we still have 2 car payments (mine is $9.5k at 2.9%, the car we purchased 3 weeks before our LO was born last year, intending it to be our family car...his is for nearly $12k at 8.95% (his credit is bad) and it's a truck, which is very useful but the mileage is horrible)..  We also have hardly any savings, and our goal is to significantly build our savings in the next year.

 

We recently decided to sell my car (sniff, sniff) because I can buy a car for much less (my mom is selling one that fits the bill just right) and pay off half of DH's truck, and we can have the rest paid off in 1 year by making extra payments of only $300/month.  Our goal is to be debt-free by next August, when we plan to move 2 states away so I can start med school.  I am torn as to whether our plan is a good one - I LOVE my car, but it's just a material object, I know.  But his truck is so useful I don't feel like we should get rid of it, especially if we plan to move soon!

 

After I start med school, DH plans to be a SAHD for a couple of years (we plan on LO #2 in 2 years) and then who knows.  I am nervous to borrow as much $$ as I will need for med school and I am afraid we won't be able to save any $$ for those 4-5 years, or even live!

 

However, we have always been TERRIBLE with money so I feel that even this will be a struggle.  I look forward to checking in with this thread to keep me on track, and to help keep others on track.  

 

Good luck!


Jenna, Mama to my little sprocket, born at home 5/29/2010
jenrett is offline  
#5 of 44 Old 07-03-2011, 03:27 PM
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I'm still here. Broke till payday on Thurs. I need to start the BEF all over again as murphy hit in the form of dental work last week.

 

DH and I are seriously considering buying an RV to live out of next Spring and parking it between my mom's and his grandma's houses. We realized that we need to save about $50,000 for a down payment for a house. We hope by March to be down two credit cards and a car loan. That will just leave the $5,500 to the LOC and $10,000 for our car.Without the $2,000 a month housing expenses we should be able to be debt free pretty quickly so we can start working towards our down payment. I'm sure friends and family will think were crazy but I don't see any other way to get ahead. Desperate times call for desperate measures right. As far as that goes.....anybody who is happy to load up on debt and never get ahead is crazy IMO! 

 

We gave the other car to my mom. After getting life insurance last month our insurance bill was just too high monthly. So giving my mom the extra car will take about $40 bucks a month off the insurance bill. Right now every monthly payment is as low or eliminated as it can be.

 

The kids are having a really hard time with staying home most days. Every time we leave the house it costs a ton so I have been trying to just stay home. Some days we go to the library. DD1 got a scholarship to sports camp for a week so that was nice. The end of July our church has a free week long camp too. Gas is always an issue now. In the past I wouldn't think twice about $20 a day on gas and just drive wherever. Now I am trying to live on a $200 a month gas budget. That's $40 a week for my car and $10 a week for DH motorcycle.


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#6 of 44 Old 07-04-2011, 07:51 AM
 
honeybunmom's Avatar
 
Join Date: Jan 2007
Location: Midwest
Posts: 1,713
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 12 Post(s)

I finally cracked open my copy of TMM.  I started reading it at the gym.  I'm also on a new fitness plan!  Last summer we signed up for a new gym membership since I'd been paying $46/mos for myself for a gym I hadn't been to in about 2 years.  I can be really bad about not canceling automatic payments.  So, along those lines, we signed up for personal training sessions which we used for all of about 2.5 months before we stalled on that.  Meanwhile, we continued to pay $120 for the personal training, on top of the $60/mo for our combined gym and kids club membership. I FINALLY went in to cancel the personal training.  I thought they were use it or lose it sessions.  We were buying 4 per month.  Well, the good news is I froze the payments AND we have 48 training sessions we can use!  

 

So, that is $120 back in the budget I can use to pay down debt.  Yeah!!!  I've got to look at Mint to see what our credit card balances are.  They are in the neighborhood of $2000 on Chase, $5000 on American Express and $3800 on Bank of America.  I know that theoretically, these can be paid off by the end of the year.  If I put it on paper, then and see that is true, that would probably motivate me to stop contributing to the 401(k) for the balance of the year.

 

Upcoming payments we have, though, are a beach trip (yes, I know this falls way outside the parameters of gazelle intensity, but my mom has started a summer trip from which she takes the oldest grandchildren home with her.  It's the only time of year they visit her and I don't believe that those types of experiences should be sacrificed. We all live states away from each other. She pays for the housing and food, we just pay for our travel and dh will stay home.  She also pays for the kids to go home with her and last year she contributed to the cost of our daughter's air fare to travel to the beach.  We will drive to pick her up from my mom's house.), tuition for the kids' schooling (I need to save about $1000 more) and property takes.  Theoretically, I could use the money in our EF, but, I hate to do that.  I suppose once I'm fully on board with this program, I'll see the wisdom in that and be back on BS.7.

 

We are almost current on all bills.  We have a $200 security alarm bill for our rental property that is overdue and I had a miscarriage 2 weeks ago and saw on the insurance company website that I'll have a $174.00 bill coming from that.  Lastly, I believe we have one overdue medical bill related to some services my dh had that is around $181.

 

I have about $234,000 in my retirement fund, $40,000 in my former employer's stock, and $25,000 in unvested stock from my new employer.  That will vest in 2  years.  Dh has been a SAHD, so, he has no separate savings either from before or since our marriage.


Mama to add 10/05; ds 3/09, and two angels
honeybunmom is online now  
#7 of 44 Old 07-05-2011, 09:02 AM
 
honeybunmom's Avatar
 
Join Date: Jan 2007
Location: Midwest
Posts: 1,713
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 12 Post(s)

I'm getting excited!  I'm rounding up all of the figures on our outstanding debt. I was happy, yes happy, to discover that I have $19,256,13 remaining on my primary education loan and $3,743.89 on the other.  Since I started out with around $85,000, I feel pretty good about that.

 

Now, I am waiting to hear back from our property manager to find out what the balances are on the special assessments that are weighing down our assessment fee.  There are 3.  I know one is in the neighborhood of $1000 or less on the balance, so, I'm already seeing where my first hit will probably land on the Snowball plan!


Mama to add 10/05; ds 3/09, and two angels
honeybunmom is online now  
#8 of 44 Old 07-05-2011, 08:32 PM - Thread Starter
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,418
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Lots of great things going on in July...WOooHOooo!!

 


Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#9 of 44 Old 07-07-2011, 09:26 AM
 
mylilmonkeys's Avatar
 
Join Date: Oct 2010
Posts: 932
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I have arrived!!  I know ya'll have missed me. ha ha ha

 

Actually, I just posted in the June thread because I didn't see this one.  I blame severe lack of sleep (see my siggy).  Reading comprehension has dwindled to near zero, no short term memory, either.  I'm going to try for a nap today!

 

So, I'll recap my post from the June thread.  DH called today after he arrived at work that he was having car troubles.  He drives 45 mi to work every day, and thankfully there is a reputable auto shop right next door to his employer.  Turns out he blew a radiator hose, and it will cost $130.  That would have been a crisis last year, but this year we have an EF!!  Not fully funded yet, but plenty to cover.  It is so nice to be able to tell hubby to relax, we've got it covered!

 

Since we have an extra pay check this month, I'm planning to fully fund our BEF, pay our insurance bill (or set the money aside, as it hasn't arrived yet but should be soon).  And pay the 3 reg fees for our vehicles.  The rest will go to our continuing home updates and we have a riding mower that needs repair.  

 

Where we stand:

BEF - now $650 since I transferred money for car repair

CC - $850 at 0% for the next year, will go gazelle on this again in Sept.

Student loan - $5700 rounded up

 

I'm ignoring the mortgage and 2nd mortgage for now, per Dave Ramsey, but also we hope to sell in a year or so and should clear these both and start over.  We are also planning to replace our van next spring with our tax refund.  I've calculated that we need to save approx. $330 per month on top of that to able to pay cash for a late model low mileage used 15 passenger van.  That should last us ages, since we've been driving our $3000 12 seater for almost 6 years.  The doors fell off last winter, which we replaced with junk yard finds, and now we've lost the muffler, our family has grown to 10 and the body is rusting away.  It's time.


Mom to eight!!  Our twin girls arrived 3-3-2011.

mylilmonkeys is offline  
#10 of 44 Old 07-07-2011, 09:27 AM
 
mylilmonkeys's Avatar
 
Join Date: Oct 2010
Posts: 932
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Oh and I wanted to congratulate those who are making progress, and especially those who are just beginning.  You will be amazed at the change you feel when you take charge of your money!


Mom to eight!!  Our twin girls arrived 3-3-2011.

mylilmonkeys is offline  
#11 of 44 Old 07-07-2011, 05:39 PM - Thread Starter
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,418
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Congrats, mylilmonkeys! love.gif

 

and TGFEF (thank goodness for emergency funds)!


Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#12 of 44 Old 07-08-2011, 01:17 AM
 
Ruthiegirl's Avatar
 
Join Date: Jun 2004
Location: Feet in the mud, head in the clouds
Posts: 3,636
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)

I am here again.  My head is hanging so low in shame right now.  We had been debt free and loving it and now we are several thousand dollars in the hole again.  

 

My lovely dh has gotten a second speeding ticket.  The first was $500 and the second will be over $600.  We are in Europe and this is the average rate of speeding tickets here.  

 

We went to a wedding and after airfare, car rental, housing, clothes and food, we spent a total of $3500.  

 

The wedding was fantastic and I am so happy we went, but I really let myself get talked into it.  I had saved enough cash to pay the airfare, but the rest went on a credit card. 
 

 

 

The debt looks like this:

 

CC1 -- 505.32

CC2 -- 1689.05 <-- this will likely increase as we are still waiting on the final speeding ticket sum

 

I just sent $100 to each credit card and will have more to send when we get paid today.  So, those numbers will drop a bit.  Dh has some work travel that we will pay out of pocket, so as soon as I pay the cc's down, they will go right back up.  We are moving home to the states in a few weeks and that will cost a bit.  The airfare is paid for, but we will have to cover the taxi, food and odds and ends that come with traveling with kids.

 

So, the month will be a lot of ups and downs.  Spending and saving and then spending again.  irked.gif

 

 

And for those who will ask -- yes, we do have an EF.  I could technically pay off most of the debt, but I really need to hammer home to my dh that his love of travel and fast driving is wrecking our savings plans.  He has no interest in our budget or our money situation, so if I am the one to manage the finances, I get to be the one who sets the rules.  And right now, he needs to live on a tight budget.  


Frugal, food growing mama to my four loves

Ruthiegirl is offline  
#13 of 44 Old 07-08-2011, 02:40 AM
 
Ruthiegirl's Avatar
 
Join Date: Jun 2004
Location: Feet in the mud, head in the clouds
Posts: 3,636
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)

 

Update

 

Just got paid and I was able to send another $250 to CC1.  So, that one is down to 155.32.

 

 

 

The debt now looks like this:

 

CC1 -- 155.32

CC2 -- 1689.05 <-- this will likely increase as we are still waiting on the final speeding ticket sum


Frugal, food growing mama to my four loves

Ruthiegirl is offline  
#14 of 44 Old 07-08-2011, 08:52 AM
 
mylilmonkeys's Avatar
 
Join Date: Oct 2010
Posts: 932
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Ruthiegirl - Condolences!  It is not easy when partners do not agree on finances.  I feel so grateful that dh and I are finally on the same page, but it hasn't always been so.  It took many many years for the consequences of overspending to sink home.  

 

Update for me, DH's check was large enough for me to finish our BEF, and set aside money need for upcoming auto insurance renewal and 3 vehicle reg.  We have lived so very long under such enormous debt that we didn't have two nickels to rub together after minimums were paid.  So, used to living very frugally, having a few hundred every paycheck to spend freely is feeling very extravagant!  

 

My next goal is to return to paying off our last CC of $850 and start our new car fund.  I'm also working on a small buffer in the checking account, growing by $50 every pay period.


Mom to eight!!  Our twin girls arrived 3-3-2011.

mylilmonkeys is offline  
#15 of 44 Old 07-08-2011, 10:55 PM
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Not really sure how others are able to accomplish bs1 so easily and then be slammin through bs2. I am about to put $100 towards the BEF again because I had to spend it on my teeth. I guess the reason it's slow going for me is because we are so overextended with me only working part time. It's really important for my baby and our breastfeeding relationship that I am home for her though. IMO that's more important than money.

 

We are still paying $200 a month to our smallest credit card so it is paid off by the time we get our tax return. We plan to throw our tax return at our second credit card. So hopefully by Feb we will be down two credit cards. If I put $100 towards the BEF every paycheck then I should be fully funded by Nov too.

 

Dh and I have decided that we need to cut out our biggest payment so we're not so overextended. That's our housing. We are planning on purchasing an older RV and park it between relatives houses for as long as it takes to get out of debt and have a downpayment for a house. We hope to travel within our county whenever we have time off from work as well. State parks and camping.

 

I'm really looking forward to the adventure and traveling that lifestyle will bring but not looking forward to tight living quarters and the comments I am sure to get from friends and family.

 

Has any of you ever done this for financial reasons? I think it will be a good learning experience for my homeschoolers to spend more time in nature so that is a reason too. We are due for a change of pace in our life as well, so there are a few reasons.


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#16 of 44 Old 07-09-2011, 01:25 AM
 
Ruthiegirl's Avatar
 
Join Date: Jun 2004
Location: Feet in the mud, head in the clouds
Posts: 3,636
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)

Quote:

Originally Posted by trekkingirl View Post

Not really sure how others are able to accomplish bs1 so easily and then be slammin through bs2. I am about to put $100 towards the BEF again because I had to spend it on my teeth. I guess the reason it's slow going for me is because we are so overextended with me only working part time. It's really important for my baby and our breastfeeding relationship that I am home for her though. IMO that's more important than money.

 


 

Oh, no slammin involved.  I have been at this for a lot of years and dh and I are quite a bit older than the average MDC mama.  Really, for me to have cc debt is truly an embarrassment.  I should know better by now.  

 

 

 

 

 

Got the final speeding ticket.  It went on a credit card since we were driving a rental car at the time.  The rental company just charged our card.  

 

So, total debt as standing is:

 

 

CC1 -- 155.32

CC2 -- 2115.79

 

I just ran the budget and it looks like I can have it paid off by October while continuing our retirement contributions.  Not 100% Ramsey style, but it is what works for us.  Had a nice long talk with dh and he is back on board.  He really is quite frugal.  He just loves his family so much and missing a wedding is unthinkable.  We really should have more of a travel budget.  We just had our roof repaired, so our reserves are a little low right now and this was an expense that we hadn't planned on.  

 

Okay, so back on budget.  Back to my frugal ways.  

 

 

 

 

 


Frugal, food growing mama to my four loves

Ruthiegirl is offline  
#17 of 44 Old 07-09-2011, 01:43 AM
 
Ruthiegirl's Avatar
 
Join Date: Jun 2004
Location: Feet in the mud, head in the clouds
Posts: 3,636
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)


Quote:
Originally Posted by trekkingirl View Post

Dh and I have decided that we need to cut out our biggest payment so we're not so overextended. That's our housing. We are planning on purchasing an older RV and park it between relatives houses for as long as it takes to get out of debt and have a downpayment for a house. We hope to travel within our county whenever we have time off from work as well. State parks and camping.

 

I'm really looking forward to the adventure and traveling that lifestyle will bring but not looking forward to tight living quarters and the comments I am sure to get from friends and family.

 

Has any of you ever done this for financial reasons? I think it will be a good learning experience for my homeschoolers to spend more time in nature so that is a reason too. We are due for a change of pace in our life as well, so there are a few reasons.


We are doing something similar.  We bought an older house in the historic district.  We can swing the mortgage, but the house needs constant work and since it is 'historic' things have to be done according to very tight regulations.  Everything we do has to be approved by the historic counsel and they charge a fortune for every permit required.  It is $75 to simply ask to make repairs.  Architecturally accurate drawings ($$$) are required and then we have to pay for historic fees and permits.  

 

So doing anything is expensive.  And we are simply trying to keep the roof in good condition and keep the house painted. 

Anyway, we are putting our house on the market and looking to rent something smaller and out of the district.  Financially, it is the right choice.   But my inlaws are furious.  They love our house and they love strolling the old streets.  My MIL is very upset at our idea of living smaller.  "Less is less" is what she keeps telling me  -  that we will get lazy and complacent with less and give up on our ambitions and dreams.  

 

They also have this idea that the housing market will rebound and we will miss out on making money.  I tell her that we have been scraping by for 9 years supporting an old house and that we are no better off that before we bought.  We are going to rent for a while and see where we are after saving for a larger downpayment.  Renting just seems like the right thing to do right now.  

 

 

And the comments you might get -- just let them go.  No one is living your life, but you.  You get to decide these things.  

 

 


Frugal, food growing mama to my four loves

Ruthiegirl is offline  
#18 of 44 Old 07-09-2011, 06:31 AM
 
dziejen's Avatar
 
Join Date: May 2004
Posts: 1,446
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I am back - last month I joined for the first time and I am finding inspiration in all of your posts, both your struggles and successes.  I am very anxious to get our debts paid but for now, slow and steady is the way it is going.  We are becoming current on our bills at the moment.  It feels as though one thing gets paid, something else happens but we are better off than we were 6 months ago and hopefully by next year things will be better than they are today.  Happy July everyone!

dziejen is offline  
#19 of 44 Old 07-11-2011, 12:30 AM
 
Ruthiegirl's Avatar
 
Join Date: Jun 2004
Location: Feet in the mud, head in the clouds
Posts: 3,636
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)

Ack!  I forgot the Kindle was active with our cc information.  The kids download a couple of books (which is totally fine since I have been sick, sick, sick the past few days), but I now have an additional $23 on the cc.  Also, got the interest charges on the 2nd card.  I hate paying interest.  

 

Two steps forward, one step back.

 

 

CC1 -- 178.18

CC2 -- 2139.40

 

 

 


Frugal, food growing mama to my four loves

Ruthiegirl is offline  
#20 of 44 Old 07-11-2011, 05:01 AM - Thread Starter
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,418
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

July expense are adding up like crazy right now. With updating the rental house, waiting for our own rent to come out of our account, paying for the mortgage too, I'm paying to cancel my gym membership which I never use, we're heading out West for my brothers wedding the day after tomorrow so there will be travel costs, and this is my first month without a paycheque (and for some reason my cell phone bill's attrocious- I usually spend $17 a month with excess minutes to cary over, this month I've been charged 3xs for a total of $65....I must have pocket dialed a few times).

 

It should all work itself out, but we're in an really awkward ditch for the next 2 weeks until DH gets paid again.

 

The good news is we have new tenants moving in in a couple of days, so the money we put aside to pay the mortgage for the month of July will be able to cover all of the above nitty gritty. Have I mentionned how thankful I am to be DR'ing? We'd have honestly been SCREWED had we not been getting a handle on our finances and had this money set aside. Yay for living like no one else so you can live like no one else...WOOooHOOoo!!

 

ETA: Oh, I also spilled beer on DH's Macbook Pro....it's caput...he's unimpressed and it will be an expensive repair. ....earlier in the month I had my ipod (which we got for free when buying the computer) in my purse along with some bubble soap....bubble soap met ipod and it's caput too....go me! shake.gif


Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#21 of 44 Old 07-11-2011, 05:06 AM - Thread Starter
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,418
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)



 

Quote:
Originally Posted by dziejen View Post

I am back - last month I joined for the first time and I am finding inspiration in all of your posts, both your struggles and successes.  I am very anxious to get our debts paid but for now, slow and steady is the way it is going.  We are becoming current on our bills at the moment.  It feels as though one thing gets paid, something else happens but we are better off than we were 6 months ago and hopefully by next year things will be better than they are today.  Happy July everyone!



The "life" portion of it never ends. Half the battle is figuring out how to take what's coming at you, deal with it, then brace yourself for the next blow. It's the preparation piece that's so freeing. Life doesn't stop, but the impact it has on you can be minimized. It sounds like you're moving in the right direction (I like Dave's line it TMM that reads that having a goal is like having a path. Even if you stray from it, you're still going to be heading in the right direction).

 

It deffinitely does get better/easier the further you get in and the more resources you eventually free-up. Hang in there!

 


Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#22 of 44 Old 07-12-2011, 06:08 PM
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

nak

 

after some health issues and my work cutting back my hours....were barely staying afloat this week. So I am here but nothing new to report. Trying to figure out how were going to get our rv in the spring.


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#23 of 44 Old 07-12-2011, 07:19 PM
 
SaraMum's Avatar
 
Join Date: May 2009
Location: Ontario
Posts: 499
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Hi all, I am new to this thread I am a PT working rest of the time sahm'ing single Mum and I keep procrastinating on making a budget ( We had done DR TMM when we were together and it worked really well....for a few months) I am now inspired and will work on my budget and tally up my debts and hopefully get a plan into action. I find the motivation to "find" or "make" the money to pay off debt is increased when I see how fast it would help to pay off debt.


femalesling.GIFMama to intact DS Dec 06 and intact DS May 10......Looking to declutter 2012 items in 2012! (27/2012)

SaraMum is offline  
#24 of 44 Old 07-12-2011, 09:44 PM
 
Wolfcat's Avatar
 
Join Date: Jan 2006
Location: Nebraska
Posts: 1,101
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)

This month is really bad. We overstepped ourselves in June with a mid-month vending event that yielded almost nothing in income. We are hanging on by the skin of our teeth until Friday (my payday), which will barely get us to Wednesday (child support), which jumps us to next Friday (his payday and his school disbursement). That should catch us up completely, but we both need new tires and brakes on the cars and I have a small oil leak that I want to fix before it becomes a big oil leak.

 

Hopefully, we can hold out long enough. Maybe if the kids stop going through a gallon of milk every other day...


Check out my business, Pangaia Metaphysical Store, and radio blog, Pagan Musings.
I'm a witchy mama to DS ('06) and DD ('10) with DH, Stormie, a heathen homemaker daddy.

Wolfcat is offline  
#25 of 44 Old 07-14-2011, 01:08 AM
 
Ruthiegirl's Avatar
 
Join Date: Jun 2004
Location: Feet in the mud, head in the clouds
Posts: 3,636
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)

Holding steady here.  We have been living super cheap all week -- lots of swimming at the local lake and eating at home.  I spent $4 on a movie download for the kids yesterday, but that has been my only off-budget expense in 7 days.  

 

I have food money for the next week, but am holding off on going to the grocery store.  I think we can squeeze a few more meals out of the fridge.  

 

If I can hang on for another week, I'll have another $200 to send to the cc.  We get paid in a  week and I have $200 budgeted from that check as well.  I could have cc1 paid off and start making progress on cc2, which would be awesome.   It will be tight, but doable.  

 

But for now, it is quiet days at home, lots of walking and playing at our local spots.  

 

My only struggle right now is that I am 16 weeks pregnant and busting out of my clothes.  I am going to go through my closet and see if I can alter a skirt or two to make them more belly friendly.  I just don't want to spend money on any clothes right now. 


Frugal, food growing mama to my four loves

Ruthiegirl is offline  
#26 of 44 Old 07-14-2011, 04:24 PM
 
trekkingirl's Avatar
 
Join Date: Dec 2009
Posts: 1,627
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Ruthiegirl I was able to get most of my maternity clothes through freecycle. Maybe you could too?


living with alopecia universalis (google it), learning alongside my children DD 2003blahblah.gif DS 2007fencing.gifDD 2011jog.gif

trekkingirl is offline  
#27 of 44 Old 07-14-2011, 04:36 PM
 
dziejen's Avatar
 
Join Date: May 2004
Posts: 1,446
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)


Definitely agree, Eirual! Today is up and down - one account is at $0 and we are scraping together money for gas/groceries until next Friday but with my directly deposited paycheck, my other account has just enough for my daughter's orthodontist appt Monday and the amount I need for my dental procedure in September is right on track too.  I am optimistic that things will work out.
 

Quote:
Originally Posted by eirual View Post



 



The "life" portion of it never ends. Half the battle is figuring out how to take what's coming at you, deal with it, then brace yourself for the next blow. It's the preparation piece that's so freeing. Life doesn't stop, but the impact it has on you can be minimized. It sounds like you're moving in the right direction (I like Dave's line it TMM that reads that having a goal is like having a path. Even if you stray from it, you're still going to be heading in the right direction).

 

It deffinitely does get better/easier the further you get in and the more resources you eventually free-up. Hang in there!

 



 

dziejen is offline  
#28 of 44 Old 07-15-2011, 11:33 PM
 
Ruthiegirl's Avatar
 
Join Date: Jun 2004
Location: Feet in the mud, head in the clouds
Posts: 3,636
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)


Quote:
Originally Posted by trekkingirl View Post

Ruthiegirl I was able to get most of my maternity clothes through freecycle. Maybe you could too?


That's a good idea.  I am not in the states right now, but will be moving home in a couple of weeks.  When we finally get settled again, I'll check freecycle and my local thrift shops.  I am sure I can squeeze by till then.  

 

I did alter one skirt -- cut a few inches down from the waist band to get take advantage of the wider waistline and then added some elastic to the back.  I also took an old, thick t-shirt and narrowed it and used the body as a tube to fashion a belly band.  I can wear my regular jeans with it for a few more weeks.  

 

So, good to go on maternity clothes.  At least for a while.  

 

Went grocery shopping yesterday and stocked up for the week.  


Frugal, food growing mama to my four loves

Ruthiegirl is offline  
#29 of 44 Old 07-16-2011, 07:18 AM - Thread Starter
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,418
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

We're on vacation and things are adding up quickly. We haven't gone over budget yet, but we may by the end of it....DH has some extra work lined up when we get home, so we're not stressing about it, but we're also not going to go overboard to ensure those extra hours will cover it and we won't have to steal from savings/sinking funds.

 

P.S. My credit card lives cut into strips in a drawer at home for online/telephone purchases only (and I rarely do either of those, so it's been fine). I CANNOT believe how much you require a credit card when travelling! The plane would not accept cash or debit for anything- credit cards only (and I forgot our headphone and I thought you weren't allowed to bring your own food, but was wrong). Picking up the rental car required a credit card too. Luckily my dad was with us, so I've been using his and will pay him back in cash once we get home.

 

Live and learn, I guess. The pros of not carrying a credit card with you from day to day totally outweigh the cons of this random event of needing one, but it's still suprising that it's so difficult to travel on cash alone.


Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#30 of 44 Old 07-16-2011, 07:58 AM
 
Ruthiegirl's Avatar
 
Join Date: Jun 2004
Location: Feet in the mud, head in the clouds
Posts: 3,636
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 8 Post(s)


Quote:
Originally Posted by eirual View Post

 

P.S. My credit card lives cut into strips in a drawer at home for online/telephone purchases only (and I rarely do either of those, so it's been fine). I CANNOT believe how much you require a credit card when travelling! The plane would not accept cash or debit for anything- credit cards only (and I forgot our headphone and I thought you weren't allowed to bring your own food, but was wrong). Picking up the rental car required a credit card too. Luckily my dad was with us, so I've been using his and will pay him back in cash once we get home.

 

Live and learn, I guess. The pros of not carrying a credit card with you from day to day totally outweigh the cons of this random event of needing one, but it's still suprising that it's so difficult to travel on cash alone.


 

Oh yes!   We are living abroad for work this year and I have used my credit card more this year than ever before.  EVERYTHING is by credit card -- people look at me funny if I try to pay with cash.  We went to a wedding and had to drive past several tollbooths.  The tollbooths were cc only!   Most people have some kind of smart phone and even buy their bus and train tickets with their cell phone that is connected to a cc.  

 

While I love our cc-free lifestyle when at home, it has been an absolute necessity to have one while traveling.  


Frugal, food growing mama to my four loves

Ruthiegirl 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