Dumping Debt and building wealth with Dave Ramsey JANUARY - Page 20 - Mothering Forums
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#571 of 585 Old 01-29-2008, 11:46 PM
 
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HI,
I'm back online and thought I'd give a quick update.

I went to the Chiaria Institute in Long Island last week and had my tests, I don't have true Chiari, but "pseudo-chiari" and ethlers-danlos syndrome. It's a connective tissue disorder. Along with my pituitary tumor, and all the endocrine problems, I'm a walking mess! Maybe I already posted about this, but I couldn't remember.

Anyway, I have had to do some serious thinking about my work, and hours and I'm going to have to cut back, I don't think there's a way around that. I just feel too crappy to keep working long, irregular hours.

The good news is that my husband can work more, he is straight commission, so extra work means extra money.

What percent is debt? Right now, we pay about $1000 towards debt, which wouldn't be a crazy percentage, like 15%, BUT we also pay $3500 towards housing, which is a huge chunk. And we are paying over $1000 in medical bills right now monthly.

If I do cut back as a midwife, I can always teach nursing students in the fall. It's good money, an easy job that I really like and really good hours, two days per week, either 8 to 4 (only for 2 weeks each semester) and then 7-2. Right now, we have all kids expect 2 in school, next year, we may homeschool them all again since my husband works evenings, he doesn't get to see the school kids during the week at all, that's hard on everyone. So if I only work as a midwife doing clinical 1 day per week and only go to 1 birth per month, that would free up lots of time. I hired another midwife and have a new apprentice, so they will probably be happy to pick up the slack.

Here's my questions of the day:

-Anyone know any debt counseling programs where you talk with real, live counselors to help you keep accountable? Not like the ones that pay your bills for you monthly, but just someone to help keep us on track?
-Anyone here self-employed doing their own taxes? We wanted to have someone do themk, but having a hard time finding someone reasonable, since we have 2 businesses, everyone wants to charge us a fortune, so we are going to do them with taxcut online, but we are looking for resources, like online yahoo groups, etc. for self employed.

thanks! We managed to hold onto our 1000 fund so far this month, but it will probably need to go to pay the mortgage next week since we had the trip to long island. WE are selling things like crazy on ebay making some money to replace it!!!
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#572 of 585 Old 01-30-2008, 03:06 PM - Thread Starter
 
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I'm finally catching up to the thread. I've been busy with work, kids, husband, a new interst that I'm investigating, and I contracted strep throat this week (probably from a kid at work). Way to go to all who are continuing to post and staying motivated! I've updated the first page as best as possible.

Who would like to take over the first post for February? Jamie? You are very active on this thread, I think you would be great. You could just cut and past the list of people and their information. Whenever someone had an update I would put them on top. I was doing this so I could see who was active on the list. We have a lot of people that have come, great!

Be well,

Shane - Homeschooling mom to three boys (12, 1-, 8) and living the open life with my husband.

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#573 of 585 Old 01-30-2008, 03:28 PM
 
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this month, january, there were 3 pay periods so hubby and i put 18% of our net to pay off the last of the credit card.

now we should be able to stash more into our saving. *whew*

shellie - momma to two adorable girls and my cutie boy
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#574 of 585 Old 01-30-2008, 04:07 PM
 
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Originally Posted by shanetedissac View Post
I'm finally catching up to the thread. I've been busy with work, kids, husband, a new interst that I'm investigating, and I contracted strep throat this week (probably from a kid at work). Way to go to all who are continuing to post and staying motivated! I've updated the first page as best as possible.

Who would like to take over the first post for February? Jamie? You are very active on this thread, I think you would be great. You could just cut and past the list of people and their information. Whenever someone had an update I would put them on top. I was doing this so I could see who was active on the list. We have a lot of people that have come, great!

Be well,

Sorry you've been sick! I'd love to start February's thread Should I put it up on the 1st or start maybe tomorrow instead?

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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#575 of 585 Old 01-30-2008, 04:25 PM
 
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I 2nd the nomination for Jaime... I would probably start it tomorrow.
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#576 of 585 Old 01-30-2008, 04:38 PM
 
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Double post!

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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#577 of 585 Old 01-30-2008, 04:39 PM
 
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I forgot to update my EF total: $922.05/$1000

I am actually hoarding my last paycheck. I refuse to put it in the bank until I get another one so that way I can't spend it! Then next pay period I will take it, deposit half in the savings to equal $500, then cash another $500 to have in the safe at home. Then I will be fully funded and heading in to CC #1!

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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#578 of 585 Old 01-30-2008, 05:48 PM
 
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Do any of you have an experience with pre paid phones? DH and I want to get rid of our monthly plan to save money. I saw that Trac Phone has this plan where you can have an entire year, with 400 minutes for the year, for $100. If we each had one, we would save over $800 a year. I am not sure, I mean, if we get a plan where you only have a certain amount of time to add new cards, it could be wasteful if we aren't actually using them.

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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#579 of 585 Old 01-30-2008, 08:05 PM
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Originally Posted by ~*Jaime View Post
Do any of you have an experience with pre paid phones? DH and I want to get rid of our monthly plan to save money. I saw that Trac Phone has this plan where you can have an entire year, with 400 minutes for the year, for $100. If we each had one, we would save over $800 a year. I am not sure, I mean, if we get a plan where you only have a certain amount of time to add new cards, it could be wasteful if we aren't actually using them.
I use Tracfone for both DH and my cellphone and it is OK. I do use it a lot less then I did when I had a cellphone plan. 400 minutes isn't a lot though and you will probably use more in a year. If you ever travel, you spend double minutes on roaming. I also think Verizon is a little cheaper in the minutes. If you only use the phone for emergencies (I only use about 30 minutes a month), it works fine.
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#580 of 585 Old 01-30-2008, 10:31 PM
 
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congratulations, cafechi!

Jaime, yes you should start the Feb thread!

Maggi: I'm so sorry to hear about your health problems. The health care system in the US is so messed up. I read so many stories on this board of people whose financial planning gets a wrench thrown into it by having to pay medical bills. We are so fortunate here in Canada. I hope your next president can make a big difference!

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

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#581 of 585 Old 01-31-2008, 12:56 AM
 
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Question:

My dad has had a $47,000 whole life insurance policy on me since I was a kid. He is willing to sign it over to me and then I will make the payments and be the owner. My first thought is, if this thing has built up any cash value, I will cash it out and put it towards debt. I am about to get some term life insurance for us anyway.

My dad hates term life insurance b/c he is 76 and up to his eyeballs in debt, so he still needs insurance to pay off his bills when he dies. I think, we will not be in that position b/c we are committed to being debt-free and saving for retirement w/in the next few years, so term should be just fine to cover us until the kids are grown.

So, how do I know if this policy has any cash value yet, and if it does, should I cash it out and put it towards debt, and is that unethical since my dad thinks this policy is valuable to me?

DS1 2004 ~ DS2 2005 ~ DD1 2008 ~ DS3 2010 ~ DD2 due Dec. 2014
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#582 of 585 Old 01-31-2008, 01:11 AM
 
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I will put up the new thread tomorrow morning, when I get home work. I am at work now and this computer is very slow and it will take forever to get the copying and pasting done.

Have a good evening everyone

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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#583 of 585 Old 01-31-2008, 11:23 AM
 
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can you post a link here when you do
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#584 of 585 Old 01-31-2008, 12:08 PM
 
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Well, I called on the insurance and neither of them has any cash value yet. Bummer. I wanted the cash for my snowball. The premiums are $420/year for $47,500 in coverage. Seems like a waste of money when term is so much cheaper.

DS1 2004 ~ DS2 2005 ~ DD1 2008 ~ DS3 2010 ~ DD2 due Dec. 2014
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#585 of 585 Old 01-31-2008, 12:22 PM
 
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Here is the link to February's thread Hope to see everyone there

http://www.mothering.com/discussions...6#post10431906

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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