anyone else ready to GET OUT OF DEBT? - Page 3 - Mothering Forums

Forum Jump: 
Reply
 
Thread Tools
#61 of 127 Old 05-20-2004, 01:51 AM
 
lilyka's Avatar
 
Join Date: Nov 2001
Location: Sioux Falls, SD
Posts: 18,301
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
I should really have come to this thread earlier - if you can get your money out of your retirement early without huge penelties I owuld do it. DH used to work for a company that helped people reduce debt in order to save for retirement and the first thing they had people do was pay off credit card debt even if it meant not investing. Once you have your debt paid off you can start auto investing. It will build faster. of course if you have 10 or less years till retirement then hoard everything you can. The theory is that your cc intrest will build faster and larger than you retirement intrest so you still lose money in the end.

some other big things you can do to save money. refinance everything to a non revolving intrest loan so that you are not paying intrest on intrest.

be sure you have term life insurance instead of whole life. (and be sure you have life insurance. it is not optional). Some people think it is a saftey net because they are squirrling away money but it is worng that you have to borrow your own money and pay someone intrest for the priveledge. use a savings account if you feel the need to squirrel money. it isn't worth it. term will take care of you and your family suffieciently at a fraction of the cost.

makeone extra mortage payment a year (this is especially easy if you get paid every two weeks because you can switch your payment to bi weekly and spilt the cost of your payment in half and you will never feel that extra payment) this will cut the life of your mortage by half. HALF!! 15 years if you are just starting out. you save just a crap load on intrest and build equity really fast.

have only as much taxes deducted as you will need ot cover your tax bill. don't have extra taken just in case. you can use a savings account for this and gain intrest until it is time to pay any extra you owe. it isn't thier money until april. keep it in the bank building intrest until then. also for the love of pete don't have extra taken out so you can get a big return. why should you let the government earn intrest on your money? and yes this is why they do this. that tax return is not a gift from the government. it is not a treat,. it is refund of what you over paid. Your boss can deposit in your savings account directly. you never have to see it or be tempted to touch it. unitl January if you so desire. and in the mean time it will be gaining intrest!! for you!!

Ok there is my speil for the night.

The truest answer to violence is love. The truest answer to death is life. The only prevention for violence is for the heart to have no violence within it.  We cannot prevent evil through any system devised by mankind. But we can grapple with evil and defeat it, but only with love—real love.

lilyka is offline  
#62 of 127 Old 05-20-2004, 09:08 AM
 
ekblad9's Avatar
 
Join Date: Nov 2001
Location: Just a slingin'
Posts: 8,193
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Wow! Thanks Lilyka!

Amy - Blessed wife to Jesse (the best dad in the world), mother of 10 on earth plus 8 in heaven.   PROUD to be a Catholic! : winner.jpg familybed2.gifhomeschool.gif

ekblad9 is offline  
#63 of 127 Old 05-20-2004, 11:58 AM
 
bamboogrrrl's Avatar
 
Join Date: Apr 2002
Location: Upstate NY
Posts: 421
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I love this thread!

A couple of things: If you have a 30 year mortgage and make one extra payment per year, it will reduce the life of the loan to about 22 years, not in half. And it's probably always a bad idea to cash out retirement funds to pay off debt because you get hit with high taxes and penalties.

That said, EFMom has some great ideas to reign in the spending. I just found a volume of the Tightwad Gazette at a yardsale for a quarter, and it really had great suggestions. My sister's bridal shower is this weekend, and she's a complete spend-a-holic, so one of my gifts to her is four books to help her and her fiance with their finances ("The Tightwad Gazette," YMOYL, a Suze Orman book, and the Wall Street Journal Book of Personal Finances). I got all the books used to underscore the priniciples of simple living. Most of these book can be found cheaply by buying them used on amazon.com

NewMainer had some good points about the stereotypes of simple living folks. Simple living doesn't mean buying poor quality items that will end up quickly in the landfill. Part of it is living lightly on the earth. I have Garnet Hill sheets on my bed, but I got them on sale, they wear like iron, and I've had them for 8 years. My heavy down comforter was expensive from the Company Store, but it's also 13 years old. My clothes are CP Shades and Flax and Eileen Fisher, mostly gotten on sale or used on ebay. My shoes are Danskos and Clarks but I haven't needed to buy a pair in two years. I have shoes and clothing that are more than 10 years old and still look great. Good quality goes a long way and saves money in the long run.

My secret life is one of a writer and artist, and simple living gives me much more time to pursue these interests. It's getting to the point where I loathe going shopping! I'd much rather hike or write or garden. Last weekend, we spent a day building a pergola in our yard - chopped down standing dead locust trees to use, dug deep holes, scrounged the screws to fasten it together. And it turned out prettier than anything we could have bought. Simple living is good for my creativity in so many ways.

My financial goals are:

*Pay off our mortgage as quickly as possible (we refi-ed our 30 year into a 15 year mortgage and I'm making extra payments). When I told DH I would work to pay it off early, he laughed at me! Ye of little faith...
*Pay into DH's Roth IRA every year as early in the year as possible.
*Add more to our emergency cushion (currently at about six months of expense).
*Keep putting money to be matched by my employer into my 403(b).
*Keep tracking expenses using Microsoft Money.
*Stay out of anymore debt - which might get temporarily blown in the next year by building a barn for dh's business, but at least it adds equity.

What are your goals, and how do we reach them? Can we support each other to reach them together?
bamboogrrrl is offline  
#64 of 127 Old 05-20-2004, 12:09 PM
 
ekblad9's Avatar
 
Join Date: Nov 2001
Location: Just a slingin'
Posts: 8,193
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
You guys have really inspired me! Thanks!

My goals are:

To pay off the CC debt ($9,000) ASAP

To pay off dh's car

To have money in savings

To live more simply and avoid buying things that we don't really need. (this is a big one. I'm a bit of a comfort shopper)

I would love to pay one extra mortgage payment/year. I always say I'm going to but then never do. That's a goal I could probably attain somewhat easily by putting money away each month.

Thanks again everyone!

Amy - Blessed wife to Jesse (the best dad in the world), mother of 10 on earth plus 8 in heaven.   PROUD to be a Catholic! : winner.jpg familybed2.gifhomeschool.gif

ekblad9 is offline  
#65 of 127 Old 05-20-2004, 12:21 PM - Thread Starter
 
Peppermint's Avatar
 
Join Date: Feb 2003
Location: work-in-progress
Posts: 5,658
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
OK- :

Goal #1- pay off......$22,000 in credit card debt :
Other goals which I will bother to put in order after #1 is done:
save for kids college
pay off cars
save for retirement
pay down mortgage
tithe (although I should probably be doing that all along)

I am planning a library trip tomorrow to get some inspiring books.

My biggest goal- to realize what we ACTUALLY have/can afford, and stop living as if we had more.

:Patty :fireman Catholic, intactalactivist, co-sleeping, GDing, HSing, no-vax Mama to .........................:..........hale:
Peppermint is offline  
#66 of 127 Old 05-20-2004, 01:53 PM
 
kathsmom's Avatar
 
Join Date: May 2004
Posts: 33
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I know I posted before on this thread, but I just wanted to add that I am so glad to see others like me who are trying to get out of debt.

We have a mortgage, car loan, home equity line of credit, and a small credit card bill. The car loan and mortgage are manageable, but the equity line of credit has thrown us for a loop. We had to get our kitchen floors replaced (previous homeowner had done a terrible DIY job of laying Mexican tiles), the driveway started cracking and eventually buckled with huge chunks sticking up (from a tree root) and had to be fixed. We also have a trees that had to be cut down/pruned. All of that was several thousand dollars.

Our new dilemma is that our DD might have a learning disability and might need to attend a special school (she has an above average IQ with a learning disability which affects how she learns). That won't be cheap, and the school is 15 miles from our home. That would be 60 miles each day to take her and pick her up, not to mention about 2 hours total time out of the day just for transportation. So, we are thinking of moving to be closer to the school. I am also trying to start an online business to bring in some extra money and I might have to go to work on nights/weekends to help pay for the tuition.

AACCKK!! We are just very confused right now. We hate debt and for a couple of years, all we owed was the mortgage and car payment, but due to DH being out of a job for almost 2 months last year, we fell behind a little and are still trying to catch up!

Thanks to you all for sharing your stories.
kathsmom is offline  
#67 of 127 Old 05-20-2004, 03:34 PM
 
kerc's Avatar
 
Join Date: May 2002
Location: The Great White North, Minnesota
Posts: 7,236
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
ackkk. i'm having a week where I want to spend lots of $$ we don't have (to give you some perspective I'm talking 100 bucks at the mall, not $$$$$$$). i'm hoping that by posting here I will refrain from spending and actually save.

it does help me to think about transferring some $$ to my cc -- meaning I would go in and pay electronically 5 bucks or something to my cc instead of blowing it at the mall. off to do that now!

Kristin -- mom of Erin (11/5/02) and Leah (9/29/05)
kerc is offline  
#68 of 127 Old 05-20-2004, 03:37 PM
 
ekblad9's Avatar
 
Join Date: Nov 2001
Location: Just a slingin'
Posts: 8,193
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by kerc
it does help me to think about transferring some $$ to my cc -- meaning I would go in and pay electronically 5 bucks or something to my cc instead of blowing it at the mall. off to do that now!
That is such a great idea!

Amy - Blessed wife to Jesse (the best dad in the world), mother of 10 on earth plus 8 in heaven.   PROUD to be a Catholic! : winner.jpg familybed2.gifhomeschool.gif

ekblad9 is offline  
#69 of 127 Old 05-20-2004, 04:41 PM
 
bamboogrrrl's Avatar
 
Join Date: Apr 2002
Location: Upstate NY
Posts: 421
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Kerc - You rock!

One of the most profound parts of YMOYL for me was the idea that every time you go out and purchase something, you are effectively trading life energy for that object (you give life energy as work for money to buy stuff).
So when I buy stuff now, I think about "do I really want to trade my incredibly valuable life energy for this thing?" Most of the time, the answer is "no." And then it becomes easy to justify paying myself first - through debt reduction or by saving.
bamboogrrrl is offline  
#70 of 127 Old 05-20-2004, 04:57 PM
 
ekblad9's Avatar
 
Join Date: Nov 2001
Location: Just a slingin'
Posts: 8,193
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I just did it (payed a little on the CC) and it feels great! Thanks for the idea!

Amy - Blessed wife to Jesse (the best dad in the world), mother of 10 on earth plus 8 in heaven.   PROUD to be a Catholic! : winner.jpg familybed2.gifhomeschool.gif

ekblad9 is offline  
#71 of 127 Old 05-20-2004, 05:10 PM
 
bamboogrrrl's Avatar
 
Join Date: Apr 2002
Location: Upstate NY
Posts: 421
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Woo hoo Ekblad! Paying down debt CAN feel better than shopping!
bamboogrrrl is offline  
#72 of 127 Old 05-20-2004, 09:10 PM
 
newmainer's Avatar
 
Join Date: Dec 2003
Location: midcoast Maine
Posts: 1,582
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
kerc- that is *such* an awesome idea. i'm going to make that a habit!!

Today we got a reimbursement check from the bank for some of our home improvement stuff, so at least 13,000 of that card will go away. seems easier for me to handle paying a mortgage than another cc.

Ok, so, goals. I know I listed my ideas before, but now the goals:

short term:
1. truly track what we are spending and get on a *workable* budget. i've made them a million times before but don't stick to them or track them.
2. dh and i meet weekly to review our finances, track our goals, etc...
3. find at least -3- ways to reduce our monthly expenses- apply toward cc bills.
4. continue paying extra on mortgage every month (we can't do the bi-weekly thing because of how our loan is structured)
5. start dd's college account before she turns 1 (less than 1 month. I figure $25 a month is doable and if we dont' do it now, we won't get the compound interest and we'll screw her future too).
6. start an IRA or equivalent for dh to squirrel money into- even if only $25 a month.

My goals are structured a bit different than what many have written. For me, it just doesn't work to have a goal of paying off our cc for good. thats' a no brainer. I need concrete things I can check off a list!! Like, ok, did I meet my reduced spending this week? yes! great! etc...

oh, and regarding the organic thing. yes, buying organic is definitely a privilege and its expensive. I know that we could save a lot of money by not doing so. but, I can't. i harbor absolutely *no* judgemental feelings toward others who don't. Like for me, I am not going to homeschool (though I undestand why others do and support it). But buying organic and local for me is really important in so so many ways. We give up other things- like we don't have a tv, so no cable. dh's cell is for work only. we have one car. we bought a smaller/cheaper house than we probably could have (ok, so we racked up a bunch of debt fixing it, but ykwim) etc... and ultimately, we can afford it, so i do- knowing full well that its a priviledge and i feel very grateful i can make that choice.

thanks mamas- this is a great thread!!

I am a homeopath, offering acute and constitutional consultations for children, babies, and parents. Long-distance treatment is easy, either phone or skype! I also am certified to offer Homeoprophylaxis, a vaccine-alternative program. Message me for more details. www.concentrichealing.com
newmainer is offline  
#73 of 127 Old 05-20-2004, 09:19 PM - Thread Starter
 
Peppermint's Avatar
 
Join Date: Feb 2003
Location: work-in-progress
Posts: 5,658
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Very good point about small things you can check off a list to "feel" like you are really doing something- and that paying $5 here and there would be a great little motivator!

Maybe we could all check in once a week (although I feel a need to be here daily) to discuss the little progresses we make (like paying $5 off of our debt instead of buying another citronella candle at Walmart ).

And yes to newmainer- we all (I suspect) have something that we feel we need to splurge on- for you it's organic foods- for me it is security- which means we have a cell phone for emergency use and we have a security system. I could cancel both of those things, but then I would not feel safe, and that would not be worth it to me, KWIM? There have to be some things that are more imporatant than getting out of debt, we just have to make sure those things are few and far between and VERY important to us .

:Patty :fireman Catholic, intactalactivist, co-sleeping, GDing, HSing, no-vax Mama to .........................:..........hale:
Peppermint is offline  
#74 of 127 Old 05-20-2004, 11:24 PM
 
kerc's Avatar
 
Join Date: May 2002
Location: The Great White North, Minnesota
Posts: 7,236
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
whew. only purchases after i left here: bag of charcoal (already on the "buy" list, 3 ears of corn on the cob for dinner, and 1/2 gallon of ice cream.

i'm having a hard time with the whole life energy part of YMOYL. For a handful of reasons, but it is just not clicking with me. I am doing well at thinking twice or trice about what i am spending money on though.

organic --> i aspire to be there someday. Honestly it is just not now. We just don't have the cash, it isn't worth it to move to a smaller house and well, dd was not planned. So we've been scraping by since she was born.

Kristin -- mom of Erin (11/5/02) and Leah (9/29/05)
kerc is offline  
#75 of 127 Old 05-20-2004, 11:48 PM
 
lilyka's Avatar
 
Join Date: Nov 2001
Location: Sioux Falls, SD
Posts: 18,301
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
I guess none of our retirement (or at least that I know about) is in a retirement specific account so it would be benificial to cash it in if we were sirtting on cc debt. Ours is entirely in mutual funds that we purchased with out change jar and is building quite nicely.

One of the reasons we are in debt is because we bought thebusiness. which was a good thing. debt worth getting into you know. But being young and without a lot of money we have a crazy 5 year payoff on the place. (think a very large mortage with a 7 year payoff and what your payments would be) plus rent and employess who all needed raises. It is sinking us. if we can hold on for five omre years we will be able to to pay off all of our debt, including out home, every penny of it, in a few months to a year. It is really insane to think about. but that is if we don't go into debt anymore and can keep the business a float (it is a viscious cycle, we are out of credit so we can't buy the stock we need so we can't sell it and make money to pay off what needs to be paid to keep the business afloat. the previous owner made things out to be a little more rosey than they actually were) and tread water for another 5 years we will be home free. but that is hard when months go by without a paycheck and things come up and our paychecks aren't quite stretching . . .

but I do want to get out of debt.

The truest answer to violence is love. The truest answer to death is life. The only prevention for violence is for the heart to have no violence within it.  We cannot prevent evil through any system devised by mankind. But we can grapple with evil and defeat it, but only with love—real love.

lilyka is offline  
#76 of 127 Old 05-21-2004, 03:13 PM
 
robin4kids's Avatar
 
Join Date: Jan 2004
Location: NY
Posts: 366
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I am new to this thread, but so glad i found it. My DH and i were doing so well for a while. We paid off everything, (We were living with my parents. though!). Then we bought a house and my husband took a pay cut and had to go back to school in order for him to keep his job as a teacher. We had another child, our new house needed a new driveway, and you know...the list goes on. We have a morgage, CC (A lot of them!), a student loan, and a car payment.

It seems that just as we think we are doing so well, something else happens. Like our stairs in the front of our house are rotten. It is not like we don't try. We are a family of six, living in a very small three bedroom lower flat. We rent out the upper for $600 a month, which means our morgage is only another $200. We could live in the whole house, but we are sacraficing our comfort for the money we need so much. My one year old does not even have a place of his own, he sleeps with us. That is fine for now, but in another year I like to move the kids to their own bed.

We would like to consolodate our ccs, but also don't want to make our selves worse off. Does anyone know if their is a safe way to do this. Right now we are paying so much in interest, and late fees. If we could just have one big payment I would be so much happier and I think in the long run we would be saving money.

Another question...Someone mentioned starting an at home job, what were you thinking of doing. I am so desperate for money. My DH works two jobs, so the only way I can work, is if I started work after 10pm or i worked from home. I already babysit in the home, but it is not steady pay.

I have to go pick up kids. I feel for you all! It is so nice to have someone to talk to, who knows what it is like and does not judge.


Depressed Mom of four beautiful kids
robin4kids is offline  
#77 of 127 Old 05-21-2004, 04:43 PM
 
newmainer's Avatar
 
Join Date: Dec 2003
Location: midcoast Maine
Posts: 1,582
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I dont have much to add today except that I admire and am impressed by you mamas with more than one child- I can't imagine! We definitely want another in about two years (well, getting pregnant anytime after dd is 2, and she is 11 mo now)- and that motivates me to get our butts on track. The stress of dealing with finances and more than one active child is beyond my comprehension right now.

Virtual hugs and hang in there to all!!

I am a homeopath, offering acute and constitutional consultations for children, babies, and parents. Long-distance treatment is easy, either phone or skype! I also am certified to offer Homeoprophylaxis, a vaccine-alternative program. Message me for more details. www.concentrichealing.com
newmainer is offline  
#78 of 127 Old 05-22-2004, 11:04 AM
 
georgia's Avatar
 
Join Date: Jan 2003
Location: tl;dr
Posts: 25,918
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Well, we've had the big discussion about selling the family car. My dh company pays for his car (just like his cell phone plan). We owe a lot on the car. Getting a new car was idea b/c he wanted the security of knowing we were in something safe, as opposed to my old Honda. I my old Honda. Paid for is a beautiful thing.

Anyway, I'm not sure how we'd go about selling the car? Newspaper? Ebay? Dh thought about trading it in, but we'd be upside down if we bought a less expensive used car. This car is draining us. I don't even drive it more than maybe once a week. We live in a golf-cart community where everything we need is reachable by foot or cart. So, we paid waaaay too much for our house so we can save $ on gas

We're down to bare bones as far as bills go. What else can I cut??? Our internet contract runs out in Aug (to cancel it, we'd be out more than just keeping it the remaining few months). We don't have cable, heck, we don't even have a working TV right now. High insurance deductibles. We don't eat at restaurants. We do eat mostly organic, though we get it thru a farmers market very inexpensively. Dh takes his lunch. My mother buys my dc clothes.....I've stopped shopping for entertainment--if we don't NEED something, why be tempted? I really like the idea of moving into a smaller place, but financially, this will have to wait at least a year. My cell phone is $9.99 a month, which we think is a good trade-off for peace of mind with almost 3 children. I think a growing a money tree sounds like some agriculture I need to look into!

Anyone ever heard this saying---I really like it:

Use it up, wear it out, make do, or do without

Kinda runs counter to the simple living isn't deprivation, but it helps me make decisions sometimes

Thanks for letting me share waaay TMI If anyone has any car selling links or ideas, please let me know!

I have retired from administration work, so if you have a question about anything MDC-related, please contact Cynthia Mosher. Thanks!
 
georgia is offline  
#79 of 127 Old 05-22-2004, 01:22 PM
 
lilyka's Avatar
 
Join Date: Nov 2001
Location: Sioux Falls, SD
Posts: 18,301
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
robin4kids - look up Primerica and see if there is one in your area.They do an evaluation of you finances, and let you know where you can save, they can refinance everything safely. you may have a slightly higher intrerst rate but since you will be paying htings off sooner it is OK (trust me) - just make sure they have you paying off everything sooner. Also by refinanceing you can drop things like PMI on your house and if you have full coverage on a car that doesn't need it (I don't know about here but if you have a loan on a car you have to have full coverage even if it is a pile.) These two things alone can add up to big savings even if you have a slightly higher intrest rate. There is no fee for thier services.They also fee l strongly that retirement saving and life insurance are not optional and will find a place for that in the overall plan.

The truest answer to violence is love. The truest answer to death is life. The only prevention for violence is for the heart to have no violence within it.  We cannot prevent evil through any system devised by mankind. But we can grapple with evil and defeat it, but only with love—real love.

lilyka is offline  
#80 of 127 Old 05-23-2004, 04:38 AM
 
CryPixie83's Avatar
 
Join Date: Jan 2004
Location: drifting away...
Posts: 3,163
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Count me in!

It's amazing how quickly debt piles up! I have old bills and a credit card that's went to collections, his cc (which is slowly being paid off! yay!), plus my 76 year old Granny who lives with us (we combine our income to balance things out) has three credit cards,plus a couple store cards and about 4 lines of credit with mail order companies... the woman is a debt magnet and she doesn't understand where her money goes every month!

I've just started putting us on a budget and it's already made a huge difference in the way we live! I'm hoping that in the next 5 years we'll be completely debt free.... 2 years would be awesome!

Oh course right now we're adding to our debt... midwives, and we have to get another car (can't really see using a '92 mustang as a family car!), but we're doing our best to keep our expenses down and we're working on increasing our income so things are looking good We're staying in my little 3 room (3 ROOMS, not 3 bedrooms!) apartment for at least a year to save money (3 adults and a baby1) so we're definately making "sacrifices"... Now if only i could make DF understand that a new X-box is not essential when he already has a PS2 and a Gamecube and a gameboy and my puter.... lol The joys of loving a geek
CryPixie83 is offline  
#81 of 127 Old 05-23-2004, 10:32 AM
 
kerc's Avatar
 
Join Date: May 2002
Location: The Great White North, Minnesota
Posts: 7,236
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
selling a car -- depending on where you live --
1. put a sign in it (heck that's basically free)
2. put an ad in the local classifieds. go to this site to look up the blue book value there's the trade in value and the amount you can realistically expect to get for the car. IMO it has always been a little high --i.e. I think they overestimate by 500 bucks or so. But then again maybe I've always been taken.
3. there's usually a classified ads magazine called something like Auto Trader (look or ask at a gas station). You buy it for a buck or two and there are tons of ads in it. To run the ads it cost like 30 bucks. This has been a good source of used car ads for us (to buy that is).

that's where I'd start.

on the mustang -- hmm. if it has a backseat, honestly I'd keep it till after the kiddo is born. That would give you a little time to save up some $$, and to really assess what you want. I bought a honda accord when pregnant. Turns out the car itself is big enough, and the trunk is big enough. But I jog frquelty and the jog stroller doesn't fit in the trunk without a little jiggling around. So...I'd now prefer a stationwagon or, gasp, minivan.

we just yesterday discovered that the public library has a lending library of toys! You can check one out for four weeks. Fun!

and to hold myself accountable -- we thought we were going to buy a sandbox yesterday. I was round and round about whther to buy or build or what. So I decided buy a turtle box. Then we opted instead to wait till it was less stormy (something about tying the sandbox to the roof of the car in the high winds we are having....). So we decided to go to the other library in town. It was a great thing. They have a great kids selection and more importantly -- a great section for kids to play! kitchen, slides, telephone booth, puzzles. It rocks. It is free, of course, and dh and I could take turns selecting our stuff. very fun and, did i mention free?

Kristin -- mom of Erin (11/5/02) and Leah (9/29/05)
kerc is offline  
#82 of 127 Old 05-23-2004, 07:29 PM
 
CryPixie83's Avatar
 
Join Date: Jan 2004
Location: drifting away...
Posts: 3,163
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by kerc

on the mustang -- hmm. if it has a backseat, honestly I'd keep it till after the kiddo is born. That would give you a little time to save up some $$, and to really assess what you want. I bought a honda accord when pregnant. Turns out the car itself is big enough, and the trunk is big enough. But I jog frquelty and the jog stroller doesn't fit in the trunk without a little jiggling around. So...I'd now prefer a stationwagon or, gasp, minivan.

Well, the little one is due at the end of next month. We've gotten friend's infant seats in the back, so it's possible, but it just doesn't feel safe to me (convertible) and I know we'll never get a stroller into the trunk. We're looking at a Taurus or an Escort, since I have a bit of experience doing basic maintanance on Fords (changing the oil, headlights, belts and filters and things of that nature). DF wants to keep the 'stang and get a second car, which is ok I guess, except I work from home so I don't need a car while he's gone (we live two small blocks from the hospital so that isn't a concern) and using the mustang as a trade would at least reduce the payments each month. The mustang is in his parent's name and they just finished paying it of, insurance is in their name too... So I'm going to try to get DF to trade the mustang in, instead of adding a second car.

I've gotten a lot of great tips and ideas from this thread! Thank you everyone for sharing your wisdom! Tonight is meal planning night, and maybe grocery shopping. I get WIC so milk and eggs are free (getting sick of juice though lol- makes my heartburn worse) which has really helped. I've found that planning meals, even if it's just dinner, a week ahead of time is a real help. It's easier to make your grocery list and harder to justify unneeded items going into the shopping cart!

I'll also be writing the checks to pay bills tonight. I find that since the majority of our income comes at the beginning of the month, if I write the checks out ahead of time I actually get them sent out on time, avoiding late fees! Yay! I still need to call a few credit card companies and takl to them about cutting down on the interest and having a set amount to pay monthly. We're no longer using the cards, but they're all maxed out (Granny used them to move, and maxed out her brand new platinum card- lovely) so right now we're fighting to keep the fees paid so they don't go over and add MORE fees... What a viscious cycle.

I'm going to sit down and figure out where all of our debt is, and keep it somewhere we'll see it everyday, that should help DF curb his spending a bit. I hope. For now I'm off to pick him up from work and see if Target has king-sized sheets on clearance (wishful thinking) since we're getting the new bed for when the baby comes.
CryPixie83 is offline  
#83 of 127 Old 05-24-2004, 12:50 PM
 
newmainer's Avatar
 
Join Date: Dec 2003
Location: midcoast Maine
Posts: 1,582
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Ok, here's my check-in and update.

I am delving into the YMOYL book. The more i read ,the more it makes sense. yes, the trading life energy for work is a tough concept at first, but I feel like it makes sense in comparison- for example, once you convert the hours and see that say, groceries are the same life energy as the clothes shopping, or gym membership or whatever, its another way to assess values. does that make sense? we'll see once we actally get all that worked out.

But, here's what I've done:
1. started a tabulation of all money out
2. started a tabulation of things I wanted to buy, but didn't and how much they cost. I got this idea because I want to see how much all those "little" things add up to- a cup of coffee here, a small toy for dd there, etc... yesterday I went to TJ Maxx to get 2 things: a silverware container thing (we just moved so don't have a bunch of that stuff) and a wastebasket for the bathroom. I found the wastebasket and a Williams Sonoma Muffins cookbook for $10. Now, I love muffins. They are my favorite thing to bake. and I love their cookbooks. and it was only $10! So I put it in my cart. Before i went to checkout, I put it back. went home, added the $10 to my tabulation. I felt *so great* that I didn't buy it. I have tons of cookbooks, plus the internet. So, victory for me there.
3. decided to cancel our YMCA membership, as its summer (just about) now and I pretty much just do classes anyway, which is above and beyond membership. That will save $55.00 a month!

So, small steps, but feels like progress. Dh and I are going to have our first weekly meeting this week to evaluate and set a plan together.

anyone else, victories? decisions?

I am a homeopath, offering acute and constitutional consultations for children, babies, and parents. Long-distance treatment is easy, either phone or skype! I also am certified to offer Homeoprophylaxis, a vaccine-alternative program. Message me for more details. www.concentrichealing.com
newmainer is offline  
#84 of 127 Old 05-24-2004, 03:02 PM
 
Breathe's Avatar
 
Join Date: May 2002
Location: NC
Posts: 1,211
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
No victories here . . . How about a major defeat?

We are overdrawn this month! This has not happened in YEARS and we are both feeling overwhelmed. There's still a week to go in this month PLUS we are hosting out-of-town guests next weekend and I will have to feed them for 3 days (they feed us when we go to their house, so no, asking them to chip in is not an option.) I just feel out of control.

It's funny, cause I haven't been participating much in this thread because quite honestly, I have not felt a strong need to get out of debt. Our debt seems small compared to many, and since our CC is 0% interest, we just haven't had the wake-up call that many of you refer to. This may be it. Can't tell yet. It might just be a wake-up call to spend more within our means, but either way, it seems fitting that I've been reading this thread all along.

So at some point dh and I desperately need some time to sit down and come up with a plan -- like, going to an all-cash system, with the cash divided up into weekly allotments, so once it's gone, it's gone -- but even finding time for that conversation is tough. I will try to track down YMOYL, but I must say that I don't have a lot of interest in reading that in my limited free time.

It's like, spiritually, I'm just not there yet. KWIM?
Breathe is offline  
#85 of 127 Old 05-24-2004, 03:14 PM - Thread Starter
 
Peppermint's Avatar
 
Join Date: Feb 2003
Location: work-in-progress
Posts: 5,658
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Breathe-

I am sorry hon....

I know what you are talking about with not really being "there" yet. That's where I was for the past few years, I wanted to get out of debt, but it wasn't quite what it is now- hard to explain. I also had "not as much debt" a couple of years ago- but boy did it grow fast- try to get your wake up call now!

I need to pay bills tonight- then I'll check back in to see if I have any progress to report......

:Patty :fireman Catholic, intactalactivist, co-sleeping, GDing, HSing, no-vax Mama to .........................:..........hale:
Peppermint is offline  
#86 of 127 Old 05-24-2004, 03:58 PM
 
Celtain's Avatar
 
Join Date: Mar 2004
Location: Looking forward to the future
Posts: 1,769
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
So how many people feel the YMOYL book is worth the read? And are they generally available at the library? Don't want to spend the money!!! LOL

Solo Mum to 4 and loving every minute of it!!!!
Celtain is offline  
#87 of 127 Old 05-24-2004, 09:25 PM
 
newmainer's Avatar
 
Join Date: Dec 2003
Location: midcoast Maine
Posts: 1,582
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by embens
So how many people feel the YMOYL book is worth the read? And are they generally available at the library? Don't want to spend the money!!! LOL
Embens, I broke down and just bought it- which is totally a perfect example of my weakness- when I think i need to do something, i just go out and do it. can't wait. this spills into finances and is part of our trouble. But anyway...
As I started reading it, I felt like I was reading some of the same old stuff I've seen in other 'money management' programs, especially about examining your history and culture about money, the ideals you grew up with etc... and started to feel duped, that it wasn't as unique as I'd been led to believe. But now that i am further into the book, i'm really starting to 'get it.' it seems much more a *life* management book via money, because money tends to be what manages us, if we let it. I can feel the principles beginning to hit me on a deeper level- beyond just my desire to get out of debt. Because really, if I dont go deeper, than getting out of debt for me is about being able to spend money without feeling guilty because I already owe so much. it had nothing to do with actually wanting to change my spending habits and our lifestyle and relationship with money. but now as I delve into this, I am begining to really want to do things differently, from the roots, not just on the surface. And, when I do think about where my money habits and attitudes come from, I recognize that they are rooted in growing up with a single mom who robbed Peter to pay Paul, never quite making ends meet. BUT we always got what we needed- not fancy vacations or cars or anything, but clothes and gifts. I have adopted that attitude, that well, I need it, so I'll get it and the money will come from somewhere. I wish I could say my mom has gotten out of that pattern, but she hasn't- so I am determined to!

So, Breathe, I totally get what you mean about not being there yet. I've been "there" only in lipservice only for so long. Saying I wanted to pay it off, making some progress when we could but not truly committing. Here is a quote by Goethe I will share. My spiritual mentor is constantly using it when teaching. I think its pretty powerful:

"the moment one commits oneself, Providence also moves,
All sorts of things occur to help which could not otherwise have happened,
A whole stream of events flow from the decision bringing all sorts of unforeseen incidents, meetings, and material help which no one could have foreseen,
Whatever you can do, or dream you can, begin it now, boldness has power, magic, and genius in it." Goethe

of course is applies to anything in life, but it sure would be cool to get all that "unforeseen" extra help to pay off my debt!

I am a homeopath, offering acute and constitutional consultations for children, babies, and parents. Long-distance treatment is easy, either phone or skype! I also am certified to offer Homeoprophylaxis, a vaccine-alternative program. Message me for more details. www.concentrichealing.com
newmainer is offline  
#88 of 127 Old 05-24-2004, 11:15 PM
 
Carrielee's Avatar
 
Join Date: Feb 2003
Location: Dallas GA
Posts: 18
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Yes that is NOT fair.
My dh and I had the same experience several years ago.
The issue of bankruptcy really ticks me off!
My thinking always was...nobody got me in that situation (although we came by that debt honest...my dh started a business) and I wasn't about to let someone else pay!

Carrie
Carrielee is offline  
#89 of 127 Old 05-27-2004, 02:46 AM
 
vegmom's Avatar
 
Join Date: Jul 2003
Location: within my thoughts
Posts: 858
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
How can we make our money grow? For those who invest.... What do you invest in? I am personally looking into real estate.

DH is the sole money maker and we are expecting a new baby in mid-august. We have about $2000 in cc debt and a mortgage. We bought a fixer-upper so we pulled out extra money out of the mortgage to fund some renovations. In the summer I am able to have a garden (if it stops raining so I can seed it!). We live in a rural area and there is little to do for entertainment so we don't really do anything. Just mainly work on the house, cook and clean. It does not seem that we have a lot of debt but we live paycheck to paycheck. And most months we are overdrafted on our accounts. We have no furniture. The computer is on the floor and we sleep on a mattress on the floor. We don't have a couch, chairs, or anything like that. I know that this is only temporary but being pregnant and sitting and typing on the floor is painful. I am just sick of it.

How much money do I need in order to invest? What do I invest in? The reason that I am interested in Real Estate is bc we purchased our home in a run down condition but in a real good location. If we fix it up and sell it we can make about $40,000. The problem is with me letting my DH do the work. It seems that he works so many hours and when he is home I would rather spend time with him rather than have him under the sink fixing plumbing.

I am all for cutting corners and saving but I just want to know how to make money. Passive money through investments so I can stay home with my dc's.
Has anybody done this? Or is this wishful thinking?
vegmom is offline  
#90 of 127 Old 05-27-2004, 05:21 AM
 
Piglet68's Avatar
 
Join Date: Apr 2002
Location: Vancouver Island, Canada
Posts: 11,097
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
breathe, don't feel bad. we were way overdrawn last month, as i said.

i also had a downer moment today. my mum's been in town for 2 weeks, just left today. she was soooo generous. she wouldn't let us pay for anything. so we have ended up in the black this month. dh was so happy. then i realized that i hadn't paid two of our bills (student loan and car loan to mum) so if I had paid them we would still be in the red even with all the money we saved with her here. it's depressing as all hell. i know this will end in a few months, but i feel that it's only going to get worse before it gets better.

i'm being proactive by calling some debtors tomorrow (if i don't chicken out, i always find this embarrassing for some, probably psychotic, reason) and discuss some payment options. we simply cannot make ends meet right now. also need to know if my overdraft account application was approved. if so, we may be leanign on that for a while.

question: has anybody checked their credit rating lately? anybody know how/where you can get a free copy of your credit report (it truly irks me to have to pay for my own information!!)?

teapot2.GIF Homeschooling, Homesteading Mama to DD ('02) and DS ('04)  ribbonjigsaw.gif blogging.jpg homeschool.gif

Piglet68 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