Climbing out of the debt hole... Anybody wanna join? - Page 7 - Mothering Forums
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#181 of 204 Old 07-29-2006, 09:23 AM
 
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Yay paxye! That's great for you! I hope that works out well.


It looks like I have a small raise so hopefully that will help.

Sarah, we would save a pretty penny if dh stopped with the tobacco and Mountain Dew but I'm not pushing that.

Dh goes for an interview on Wednesday. Please wish us luck. He desperately needs a job and he's feeling so low I don't know what to do. *sigh*
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#182 of 204 Old 08-09-2006, 07:04 PM
 
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Is there room for one more? I'm trying to make it through the back pages but wow. There's alot! I guess I'm in good company!

DH and I are in rough shape. He quit his job ($60+k a year) to work at our home business (it seemed like a good idea at the time ) which subsequently has falled on hard times ($200,000 gross last year, something like $10,000 so far this year: ) due to a major customer getting into a junk lawsuit over a previously trademarked name. : : : did I mention that I'm : ? (Company A sold a product named X-A and sold it for three years prior to Company B naming a similar product X-Apple. Company B sued Company A. And lost. Company A was our bread and butter but they spent so much on the lawsuit they almost went under....)

Anyway. It was tight when he was getting paid by the company, now, his paycheck got cut in half (less, actually) again when he went to work roofing so we could make the house payment. He's been doing the bills since my dad got sick (cancer) and I got pregnant with our first right after (my stress level went: and I couldn't cope with the lack of money too...I tend to get obsessive and can't think about anything else )

So, he's been working from 4 am to 7:30 pm every day, and I work full time too, but together, we make less than half of what we made (and spent: ) 2 years ago.

We got a second mortgage on the house to finance some machinery for the business, and can't sell the house because it needs a new deck and siding-but can't afford to do it.

If it were just me, I'd sell everything and just start over, but dh says he's 43 years old and 'doesn't want to spend the rest of his life in a trailer'. He's an impulsive spender and I'm so tight I squeak (sorry bad description!). I want so badly to stay home and raise my baby the right way, but no can do at the moment-esp since my job has such awesome insurance for cheap-$40 a month for two adults and two kids (dsd too).

We've sold everything that can be sold, and quit doing anything. *Sigh* I'm just tired of being broke, with no end in sight.

sorry, ended up so long. Kind of a vent/: too.
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#183 of 204 Old 08-09-2006, 07:05 PM
 
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oops. haha
forgot to subscribe.
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#184 of 204 Old 08-09-2006, 07:23 PM
 
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I need to stay motivated! So let's keep this thread alive.
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#185 of 204 Old 08-11-2006, 12:20 AM
 
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We have paid off our truck and should be receiving the title soon.
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#186 of 204 Old 08-11-2006, 08:36 AM
 
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Quote:
Originally Posted by Kleine Hexe
We have paid off our truck and should be receiving the title soon.
Way too go!


We are finally able to pay all our monthly bills regularly now. Well, medical bills I'm doing little by little and credit cards I'm still paying off but I'm able to pay more than just the monthly minimum so we're making progress. Dh had a job interview on Wednesday. We find out today if he gets the job. Keep us in your thoughts. He really needs this job.
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#187 of 204 Old 08-11-2006, 09:00 AM
 
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Definitely thinking about you guys today...I hope he gets the job Wendygrace.
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#188 of 204 Old 08-11-2006, 10:06 PM
 
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So did he get the job?
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#189 of 204 Old 08-11-2006, 11:02 PM
 
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Still haven't heard. And his recruiter is apparently a flake. We're supposed to be waiting for a letter in the mail that either went out today or should have gotten here today. : Apparently it went out today cuz we have no letter. Dh is crawling out of his skin! And I'm not much better!
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#190 of 204 Old 08-11-2006, 11:35 PM
 
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I'm so sorry Laurel
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#191 of 204 Old 08-13-2006, 09:26 AM - Thread Starter
 
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That's great news, KH! I, too, will try to check in more often and post when I do. I have this tendency to just read.

Frugality has gone out the window here lately. We're spending too much money and guess what? It gets charged to a credit card. As someone else says, it seems to go around in circles: pay off major chunk of CC debt, run the cards up again, nearly have a nervous breakdown, pay off major chunk of CC debt, run the cards up again, etc. Repeat ad naseum. Sigh.

Laurel, welcome onboard. I hope this thread will serve as inspiration and help to you. Mostly, I hope your business takes off (again) really soon so you get to enjoy motherhood without all that stress.
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#192 of 204 Old 08-13-2006, 02:15 PM
 
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We have had a set back, as I am with a bank account balance of -$157.00! : : We have all of $4.00 to our name right now and dh doesn't get paid until Tuesday... it seems so long away!
On a happier note, I am going to be getting a job (hopefully soon) at a hospice (part time, like one shift a week, to pay for dd's school tuition). Dh's student loan money gets here this month so we will be able to pay off some medical bills, and dential bills, and pay a back mortgage payment, just generally get caught up again. I have worked out a "Plan", not a budget as that makes us feel deprived, but a "plan". It looks really good, and I feel really motivated. I want to get just as excited about my savings account balance as I get about spending money (without the massive guilt and nausea that follow said shopping). I see us paying off our credit debt in less than two years and the van in about 4 months. We are having to trim in a few places, but I am pretty pleased with what we are going to do.
A book I recommend is one MMI sent us as part of our package to get our money under control... "Life or Debt". It is simular to "Your money or your life" but funnier and he is just down to Earth. I personally like it better.

I am wishing all of you in tight spots some freedom this next month. I feel like it can only get better... right?

H

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#193 of 204 Old 08-13-2006, 05:18 PM
 
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Come on girls. Get back on the bandwagon. We've bought a bit too much junk food last week and now I'm panicing so back on we go. Still waiting for word on Dh's job. *sigh*
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#194 of 204 Old 08-13-2006, 07:56 PM
 
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Quote:
Originally Posted by magster
As someone else says, it seems to go around in circles: pay off major chunk of CC debt, run the cards up again, nearly have a nervous breakdown, pay off major chunk of CC debt, run the cards up again, etc. Repeat ad naseum. Sigh.
I find that for myself as well! I had my capital one card down to just a few hundred dollars and now all of a sudden it's maxed out at a grand. I think when I start seeing us getting out of the debt hole, I tell myself it's okay to get a few summer clothes or get some take out on our way home if we're tired... but once a little water trickles through the flood gates burst.

I got a new CC with a $2000 limit at a 5% APR for 6 months so I am thinking about switching a balance over, but I would have to pay it off in 6 months to get any benefit - it would be $160 a month. I'm just not sure if I can actually find that much extra money, but GOD it would feel great to have that one paid off.

Anyone play the transfer game? Any tips?
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#195 of 204 Old 08-13-2006, 09:43 PM
 
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DH gets paid on tuesday, because of our overdrafts we are going to start out $158.00 short. I have two checks that were put on hold until the 15th, one for $83.00 and one for $240.00. I have to pay back my dear friend who was so wondeful to loan me $100.00 for a week (actually 10 days), I have to make a van payment $365.00 I am behind one and they are bugging us. I have to have food and gas money, about $325.00 for two weeks, I also have some stuff that is automatic withdrawls... $20.00, $162.00, $157.00, all coming up ASAP (before next pay day) plus we have our MMI payment due on the 15th of $393, along with all the other little stuff I will just hold over. DH gets some student loan money that we were going to pay off a few things with (dentist and doctor bills), they send out the money on the 18th, but we may not be able to use it for a week, as our bank is always jerky about large-ish sums of money. There is stuff coming, but I am scared. Because all this stuff is due. Plus we still have part of a back mortgage payment to make up ASAP! : :
I just want to get ahead!

H

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#196 of 204 Old 08-14-2006, 12:29 AM
 
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Well, repairs to DH's car came to $2000, instead of the $750 we originally thought. BIG SIGH.

But, it got done before our road trip out to Utah. We didn't really 'budget' for the trip to Utah, but we did pretty well with eating the food we brought, so that part was a success. Hotel and gas really did add up, but we saved a lot compared to 3 plane tickets and a car rental.

We're restocking the fridge (since it had to be cleared out before we left for 9 days), and I'm trying to be smart and frugal about that.

So we've been adding to our debt with the car repair and trip.

One bright spot, if you can call it that, is that I know I'll have a chance at some overtime in late September. I hate doing it, but it's a substantial enough amount that it makes it worthwhile.

Bridget. Momma to DD (4), expecting DS - 9/09, wife to SAHD. Gardener, coffee addict, urban dweller.
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#197 of 204 Old 08-14-2006, 09:25 AM
 
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Quote:
Originally Posted by mamaofthree
DH gets paid on tuesday, because of our overdrafts we are going to start out $158.00 short. I have two checks that were put on hold until the 15th, one for $83.00 and one for $240.00. I have to pay back my dear friend who was so wondeful to loan me $100.00 for a week (actually 10 days), I have to make a van payment $365.00 I am behind one and they are bugging us. I have to have food and gas money, about $325.00 for two weeks, I also have some stuff that is automatic withdrawls... $20.00, $162.00, $157.00, all coming up ASAP (before next pay day) plus we have our MMI payment due on the 15th of $393, along with all the other little stuff I will just hold over. DH gets some student loan money that we were going to pay off a few things with (dentist and doctor bills), they send out the money on the 18th, but we may not be able to use it for a week, as our bank is always jerky about large-ish sums of money. There is stuff coming, but I am scared. Because all this stuff is due. Plus we still have part of a back mortgage payment to make up ASAP! : :
I just want to get ahead!

H
You are in a tough bind here. Make sure you're not waiting to pay for something until you have all the money. We've been paying our medical, counseling and dental bills $5 at a time and that will hold them. As long as they are getting "something" they are usually ok with it. Whenever you have an extra few bucks send $10 or $20 instead (or $100).

Quote:
Anyone play the transfer game? Any tips?
As for the transfer game, the key is to either pay it off at the end or make sure the interest rate when it goes up is manageable...or that you can transfer it to another card at the end. I have a card with low interest until December and then it goes to 31%. Ick! But I'm looking at dh getting a new card in the next couple months and we will be transfering the amount to that card soon. Also make sure you are paying the card on time. Don't be late one minute or the rates will go up.
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#198 of 204 Old 08-14-2006, 04:13 PM
 
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When we straightened out our money this summer, we vowed not to add anything to the debt. We ended up buying a car in July and were dumb enough to finance it. We NEEDED another car, after four years of sharing a car, but we still had the stupid mindset of needing to finance it. What we should have done was to save up $2,000-ish and buy one out-right.

But, we have not added a dime to our credit card debt, and dh is doing his teacher certification and we are paying CASH for it!!! We've saved up the $1900, and we are determined not to add anything to our student loan debt. We're also paying for my ongoing dental work with cash....and our dentist gives you a 5% break if you pay cash.

We're DONE adding to the debt. I will not ever use a charge card again, or buy a car on credit again.
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#199 of 204 Old 08-15-2006, 10:49 AM
 
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Well, I think last night I may have helped DH not spend money on books! (Not an insignificant expense when it comes to our discretionary funds.)

I had bought $3 worth of books to sell and trade, and I asked him if he likes a particular author as I'm posting them online, since I noticed one of the books was a first edition. And he said he did indeed like the author, why was I asking. So, he convinced me to let him keep the first edition and wanted to know more about the books I was selling and trading. When I told him about PaperBackSwap, he came up with 3 books to 'order'. There were also a few pottery books he wanted, so I added those with a wishlist feature. (If anyone wants to know more about paperbackswap, PM me. They give out 'referal' credits.)

I've been trying to get him to let me try to sell or trade his books that he was taking to the used bookstore - maybe that's the next step! We probably saved $15 last night on books he would have eventually bought (used or new). And now I think he'll check first with me to see if we can get a free or lower cost copy. Plus, I sold one book (covering my purchases yesterday) and am sending out one more trade this morning.

Yippee! Small victories. And I remembered to pack my lunch!

Bridget. Momma to DD (4), expecting DS - 9/09, wife to SAHD. Gardener, coffee addict, urban dweller.
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#200 of 204 Old 08-15-2006, 01:37 PM
 
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yeah good news! My 6 month review is coming up (I just got the notice last night) and I will be getting a raise (? is how much) and an additional $80 a month as a continuing education stipend! Yahoo! It's gonna show up in my October 17 paycheck. : Not much but every little bit helps these days....

I think I'm going to set up a savings account at a whole different bank and direct deposit that money into it so that we never see it-then I can use it to pay stuff off as it gets built up...or as an emergency fund.

Meanwhile, I think I'm going to fire my husband from paying bills. I went through everything this weekend and discovered we are paying 15.99% interest on one card, and have room on another at 7.99% for the whole balance.: along with a few other things that are going to get stopped right away....:

mamaofthree: keep your chin up and keep plugging away....I wish I had better advice than that but I don't....
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#201 of 204 Old 08-15-2006, 01:53 PM
 
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Dh got a job!!! Yippee!!

He wants to put the kids in daycare though and have me keep working. He's insane but I'm gonna crunch the numbers. They'd be with him in the mornings and we'd put them in daycare/Montessori school in the afternoons and then I'd pick them up in the evenings but I so wanted to be with them. *sigh* It'd probably be better for us financially if we did it his way though. Pros and Cons.

Yay Shirelle, Laurel and Bridget! Way to go for all three of you!
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#202 of 204 Old 08-15-2006, 02:44 PM
 
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Originally Posted by Selu
I am still here. *gasp* DH and I are going Dave Ramsey over here. I actually like him quite a bit (which goes to show radical leftists and conservatives can share the love, lol). I am reading Financial Peace, Revisited and TTMO is on its way to me. We are pre-BS1 now, and going into BS 1 on August 1. I am really excited!!!
Dh and I just started TTMO on Sunday

Mama to 9 so far:Mother of Joey (20), Dominick (13), Abigail (11), Angelo (8), Mylee (6), Delainey (3), Colton (2) and Baby 8 and Baby 9 coming sometime in July 2013.   If evolution were true, mothers would have three arms!

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#203 of 204 Old 08-15-2006, 05:00 PM
 
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TTMO is probably a better place to start than someplace like InCharge.org?

DH and I have to do something because our intake pretty much equals our outgo in payments now that hes roofing and not getting bullet money...

I'm seriously : trying to figure out what to do. It doesn't help any that I'm so mad at him right now I could choke him.(But that's not the issue. Though it very well might make me feel better...: )

Anyone have any thoughts on that?

I don't see any reason paying someone for something we could do ourselves, I'm just not sure we (well, HE ) has the willpower to stick with it...
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#204 of 204 Old 08-16-2006, 04:50 PM
 
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Originally Posted by wendygrace
Dh got a job!!! Yippee!!
WOO HOO!!!!

 2/02, 4/05, 2/07, 11/09, and EDD 12/25/11 wave.gif

 

 

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