First the Good....
I have paid down $15,939.98 in debt. My debt total is UNDER 24 K! Just under... but still under. I like seeing those numbers drop.
Then the Bad...
I had to pay mostly the minimums this month. I took $250 out of savings to cover daughter coming home from college and to pay the back balance on the sprint bill. I have had an increase in groceries this month and Man are things tight. Although I paid $95.00 to debt over the minimums. So It was not a waste of a month but the progess is not where I want it to be and I chafe at the pace.
The Ugly
Life happens. It makes progress slower then I would ever like but I acknowledge that life happens. I do have a daughter. I cant ignore her untill all debt is paid off. I desperatley need a hair cut. I really need to get a couple of new clothes so does she. I am postponing all of those things in order not to incur any new charges to the credit cards and I acknowledge that this road is HARD. I did replace $100 back to savings. I am concerned that I need to show the ability to maintain a balance if we choose to buy a home. I need to replace the funds I took out sooner rather then later - which means financial health at home not on the credit cards. They will see progress on the cards but that wont be as important as maintaining the balances.
We are on the road to debt freedom. We will get there eventually inspite of the side trips. And Last May was a rough one too. If history is a predictor June will be tight as well. With DH's birthday coming up in June It will indeed impact the wallet. So we shall see.
There is always hope. somehow it will get better.
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Monday, June 01, 2009
Monday, May 18, 2009
Well, How did I get here?
I was reading my blogs today and I saw this on Boston Girl’s blog (http://www.bostongals.com/2009/05/ny-times-reporter-personal-credit.html) about an economist who got into big big debt. Well I too was a business major. And still I hung myself on the rope that the credit card banks gave me - paraphrased from this article
(http://www.nytimes.com/2009/05/17/magazine/17foreclosure-t.html?pagewanted=print)
So I thought I’d tell a little more of the story.
I looked back through all my posts and it turns out I try not to dwell on my mistakes of the past but I have focused on the future. I deem this to be a good thing. Yet I think how I got here is worth examining. Even reading back through some old posts I found evidence of my fuzzy logic that often times was the result of chaos elsewhere in my life. Thankfully I am much more grounded now.
As I read back my blog is more stream of consciousness not a book of how to get out of debt. I think that is the part of the journey that is personal. All I really want to do is get out of debt not to become a journalist. Here are a few posts that chronicle some of my journey…
Inspiration to begin:
http://travelfarandwide.blogspot.com/2007/03/change.html
http://travelfarandwide.blogspot.com/2007/03/confession.html
Some more of my journey:
http://travelfarandwide.blogspot.com/2008/07/economy-and-personal-finance.html
I have come a long way:
http://travelfarandwide.blogspot.com/2007/04/changing-times.html http://travelfarandwide.blogspot.com/2007/04/clutter.html
So those posts have some of the history of how the big debt got started, but I know the choice I made that really started the whole thing…
It is as clear as day the moment I first dug the hole. I had my first real job. I had just moved out of my Mom’s house, where I went to recover during my divorce. I was paid an okay salary not awesome, but enough to live on. I got a one bed room with den for myself and my daughter. We needed a TV cabinet. Well need is a matter of definition. I picked one out of the JCP catalog. It was adorable. I can still see the item in my mind. I was building my cozy nest. I wanted my DD to have a nice home. Never mind that I should have saved up for it and paid cash. That is never going to happen I told myself. I can’t save money. And I need to be clean and organized. I need the cabinet. So I ordered it from JC Penny’S and I was on my way to Credit Card debt. I made monthly payments. I don’t remember if they were over the minimum. I doubt it. I carried the cabinet board by board into the house because the box was too heavy for me to carry by myself. I put it together with my friend the power screw driver. It looked pretty nice. We had a living room.
Then the hole got a little bit deeper…
I remember getting the card offer in the mail. The card was Prime Option; they are no longer in business. 0% interest. What a good idea. I'll transfer the 22% interest JCP card over to this new card and after 6 months it will be only 12% interest. I can "afford" that I thought. But then I needed gas one day. So I put that on the card too, again and again and again.
Not related to Credit but related to income, I did some soul searching about why I was not happy where I was. I was alone in PA. My friends all lived elsewhere. I was an hour from my mom. Why was I still here? So I decided to move to NC. I did some research. I had taken a Microsoft course in computer networking. My brother was getting paid $50K to set up computers, I could do that I thought. (I still have yet to make the 50K salary mark!) I am going to move to NC and take some more classes and start over.
Well, the move was mostly all on credit cards. My dad did pay for the moving truck through his business. He even offered me a job, which I accepted. I took the position of Business Manager. Great at someone else’s money just not my own. Everything went on the card.
Because I thought of myself as middle class and sliding I had a certain amount of pride about what I could afford. I was maintaining a lifestyle that no one saw... Irony of ironies I am an introverted person. I have few social interactions with the parents of my daughter. Even at our church I was never approached by other parents. I bet they could not even tell you my name. And yet I was maintaining a three bedroom apt so I could have an "Office" for myself? How stupid was I? Don’t answer that I already know.
Then the denial or magical thinking really began. Credit card bingo. It is a sign that you are in trouble with debt that you shuffle balances from card to card. I looked at it as a good money manager to keep transferring money around so that you can take advantage of offers.
In business school your studies are all about the analysis of others behavior. It is never a focus on you. It is not discussed to gain an edge by never taking out a car loan, or not having to pay credit card interest. It is implied but not explicit. The thing about that is you get cocky. I was really really good at floating money from month to month. I took that as skill at manipulating the interest rates not a sign that I would have t o pay that money back some day.
Then more magical thinking I had some money in an investment. It was equal to the amount on my cards... So I could pay them off at any time right? (or so I told myself) But I didn’t want to. And I kept thinking my career will pick up any time. I will get a job that will pay off all my bills. I will magically have a big check to pay it all off. Getting out of debt takes step by step perseverance. I never had that. I learned it mostly when I met my husband. And slowly I have improved it my ability to focus and finish a task.
Now as I move forward It is even more important to get to the goal. To finish what I have started and to live my life debt free.
(http://www.nytimes.com/2009/05/17/magazine/17foreclosure-t.html?pagewanted=print)
So I thought I’d tell a little more of the story.
I looked back through all my posts and it turns out I try not to dwell on my mistakes of the past but I have focused on the future. I deem this to be a good thing. Yet I think how I got here is worth examining. Even reading back through some old posts I found evidence of my fuzzy logic that often times was the result of chaos elsewhere in my life. Thankfully I am much more grounded now.
As I read back my blog is more stream of consciousness not a book of how to get out of debt. I think that is the part of the journey that is personal. All I really want to do is get out of debt not to become a journalist. Here are a few posts that chronicle some of my journey…
Inspiration to begin:
http://travelfarandwide.blogspot.com/2007/03/change.html
http://travelfarandwide.blogspot.com/2007/03/confession.html
Some more of my journey:
http://travelfarandwide.blogspot.com/2008/07/economy-and-personal-finance.html
I have come a long way:
http://travelfarandwide.blogspot.com/2007/04/changing-times.html http://travelfarandwide.blogspot.com/2007/04/clutter.html
So those posts have some of the history of how the big debt got started, but I know the choice I made that really started the whole thing…
It is as clear as day the moment I first dug the hole. I had my first real job. I had just moved out of my Mom’s house, where I went to recover during my divorce. I was paid an okay salary not awesome, but enough to live on. I got a one bed room with den for myself and my daughter. We needed a TV cabinet. Well need is a matter of definition. I picked one out of the JCP catalog. It was adorable. I can still see the item in my mind. I was building my cozy nest. I wanted my DD to have a nice home. Never mind that I should have saved up for it and paid cash. That is never going to happen I told myself. I can’t save money. And I need to be clean and organized. I need the cabinet. So I ordered it from JC Penny’S and I was on my way to Credit Card debt. I made monthly payments. I don’t remember if they were over the minimum. I doubt it. I carried the cabinet board by board into the house because the box was too heavy for me to carry by myself. I put it together with my friend the power screw driver. It looked pretty nice. We had a living room.
Then the hole got a little bit deeper…
I remember getting the card offer in the mail. The card was Prime Option; they are no longer in business. 0% interest. What a good idea. I'll transfer the 22% interest JCP card over to this new card and after 6 months it will be only 12% interest. I can "afford" that I thought. But then I needed gas one day. So I put that on the card too, again and again and again.
Not related to Credit but related to income, I did some soul searching about why I was not happy where I was. I was alone in PA. My friends all lived elsewhere. I was an hour from my mom. Why was I still here? So I decided to move to NC. I did some research. I had taken a Microsoft course in computer networking. My brother was getting paid $50K to set up computers, I could do that I thought. (I still have yet to make the 50K salary mark!) I am going to move to NC and take some more classes and start over.
Well, the move was mostly all on credit cards. My dad did pay for the moving truck through his business. He even offered me a job, which I accepted. I took the position of Business Manager. Great at someone else’s money just not my own. Everything went on the card.
Because I thought of myself as middle class and sliding I had a certain amount of pride about what I could afford. I was maintaining a lifestyle that no one saw... Irony of ironies I am an introverted person. I have few social interactions with the parents of my daughter. Even at our church I was never approached by other parents. I bet they could not even tell you my name. And yet I was maintaining a three bedroom apt so I could have an "Office" for myself? How stupid was I? Don’t answer that I already know.
Then the denial or magical thinking really began. Credit card bingo. It is a sign that you are in trouble with debt that you shuffle balances from card to card. I looked at it as a good money manager to keep transferring money around so that you can take advantage of offers.
In business school your studies are all about the analysis of others behavior. It is never a focus on you. It is not discussed to gain an edge by never taking out a car loan, or not having to pay credit card interest. It is implied but not explicit. The thing about that is you get cocky. I was really really good at floating money from month to month. I took that as skill at manipulating the interest rates not a sign that I would have t o pay that money back some day.
Then more magical thinking I had some money in an investment. It was equal to the amount on my cards... So I could pay them off at any time right? (or so I told myself) But I didn’t want to. And I kept thinking my career will pick up any time. I will get a job that will pay off all my bills. I will magically have a big check to pay it all off. Getting out of debt takes step by step perseverance. I never had that. I learned it mostly when I met my husband. And slowly I have improved it my ability to focus and finish a task.
Now as I move forward It is even more important to get to the goal. To finish what I have started and to live my life debt free.
Monday, May 11, 2009
Month end and looking forward...
There were not a lot of posts for April. And I now that I have done the numbers not much progress either. All things considered though it was not too bad. We did go on a family vacation and I still paid $200 to debt. I can live with that. It may make the progress slower then I would like and I know I chafe at the pace of my progress but when I look at that number I am really happy that I dont owe 39K any more. I am able to think of owning a home which 1 year ago It would not have been possible. CC#2 has a balance of 2162. I made a payment to if in May for $400.00 so I know next months numbers will be better. My DH has been paying ALL of the child care so I can continue to pay down my Credit Cards. He is a wonderful man. I will keep forging ahead. We'll see what comes. One day at a time.
Today I plan to go to the library and check out how to purchase a home for dummys so I can start getting smart about the biggest purchase of our lives. I am excited. We are hoping to be able to make a home purchase before the end of the year. It is a little ambitious but we'll never have the same low interest rates and $8,000 tax credit again. I think we can do it.
If you have any good sites for the process leave them in the comments I will be sure to check them out!
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Today I plan to go to the library and check out how to purchase a home for dummys so I can start getting smart about the biggest purchase of our lives. I am excited. We are hoping to be able to make a home purchase before the end of the year. It is a little ambitious but we'll never have the same low interest rates and $8,000 tax credit again. I think we can do it.
If you have any good sites for the process leave them in the comments I will be sure to check them out!
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Monday, May 04, 2009
Debt Details
Excessive Debt is bad. I dont want to put anything on my credit cards anymore. However. I just got a letter from CC#1. I worked very very hard to get rid of any outstanding balances on that card. This bank card was a very bad one. I at one point asked them to lower the rate (24.99%) and they said "NO, you are using this like a long term loan". Well DUH If I cant get a lower rate then It will take FOREVER to pay it off. AHHH now it has a 0 balance. I transfered some of it to 3.9% offeres and I paid off the rest. If you have tracked my progress you can see that I have slowly made every effort to be out of debt. This card had a crazy available credit of $24,000. I dont need that nor was I ever going to put a single dollar onto this most hated card ever again. EVER. So When I opened my mail today It surprised me that I was sad that they have "re evaluated" and lowered my limit to $12,500.
I am actually happy that the limit is lower. I still felt a pang of "Oh no" when I looked at the paper. Isnt that silly? I have considered closing the account. If for any reason any of the banks I have cards with suddenly change how much I owe because the bank has changed hands I wanted options. I do get 8.99% offers from them all the time. Of course as I get $0 and 3.9% offers from other banks, I would not consider using this card unless one of the other banks went out of business. Like I said I want options.
So why does it bother me? Well I dont want it to look like I did something wrong. I paid off that account fair and square. I want it to be the truth, the change is a reflection of the bank's choices. BUT what will it do to my credit score? We are talking about buying a home so dont say it should not matter. It will if we were to go for a mortgage in the next few weeks. One step at a time.
All things considered this month I thought it would be tighter then it turned out to be. We made it through April and I still made payments to my debt. I will be debt free someday.
$15,236.09
Good job girl.
I have been neglecting my desk but it turns out that I am still somewhat on track. I will get out of debt. I will I will I will.
I am actually happy that the limit is lower. I still felt a pang of "Oh no" when I looked at the paper. Isnt that silly? I have considered closing the account. If for any reason any of the banks I have cards with suddenly change how much I owe because the bank has changed hands I wanted options. I do get 8.99% offers from them all the time. Of course as I get $0 and 3.9% offers from other banks, I would not consider using this card unless one of the other banks went out of business. Like I said I want options.
So why does it bother me? Well I dont want it to look like I did something wrong. I paid off that account fair and square. I want it to be the truth, the change is a reflection of the bank's choices. BUT what will it do to my credit score? We are talking about buying a home so dont say it should not matter. It will if we were to go for a mortgage in the next few weeks. One step at a time.
All things considered this month I thought it would be tighter then it turned out to be. We made it through April and I still made payments to my debt. I will be debt free someday.
$15,236.09
Good job girl.
I have been neglecting my desk but it turns out that I am still somewhat on track. I will get out of debt. I will I will I will.
Monday, March 30, 2009
Progress Update
Despite myself I have made progress. I have paid down over $15,000 in debt. Go me. I am in the middle of the journey. I no longer feel the heavy anchor so familiar to me of my monthly payments that beginning shore where I said oh if something happens I'll just use my credit card.... and the other shore where I am debt free. When you no longer see either shore the journey seems long. I know in my heart I am doing the right things. I know in my heart I will stay the path and keep pushing to be debt free. But the birth of my beautiful son and the costs of college for my daughter seem to pull at me so that I swim very very slowly to the shore where I am debt free. Had I not become pregnant and had my husband not needed to work so often on the weekends I would have taken a second job. I am still looking for opportunities to make extra money.
Today though when you break a round number like $15,000 you should stop and celebrate. I am going to treat myself to one $16.99 magazine holder for my cross stitch magazines. I dont want to spend much because I have to keep swimming. I also need to remember that the books I purchased from amazon will not have been charged to my account yet and I need to save that birthday money for when the bill arrives.
My progress from NCN. I have updated the numbers in the side bar. so Celebrate with me [ ]3 as we roll forward.
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Today though when you break a round number like $15,000 you should stop and celebrate. I am going to treat myself to one $16.99 magazine holder for my cross stitch magazines. I dont want to spend much because I have to keep swimming. I also need to remember that the books I purchased from amazon will not have been charged to my account yet and I need to save that birthday money for when the bill arrives.
My progress from NCN. I have updated the numbers in the side bar. so Celebrate with me [ ]3 as we roll forward.I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Thursday, March 26, 2009
Time
There is really little time to myself these days but I did manage to stitch a little last night. Here is an update...
Monday, March 23, 2009
Marching on
March comes in like a lion and goes out like a lamb.... Well the Lion says get some stuff done. The little lambie wants to be lazy. Sometimes people dont get blogging. But for me it helps me focus. I have to think about my progress for the week and then I can tell where I am and where I want to be.
So things I need to do to be on track:
Address health care issue
Bank (done)
Errands this morning (done)
Dr this afternoon
Balance my check book - I have not been tallying my budget for the last three months
Fill out financial info
Pay car insurance
Also I would like to do a how much does this dinner really cost. I spent $63.00 at the grocery store today. I bought the ingredients for about 5 days of food
We need to focus on two things: Cost
and Calories - I have high cholesterol and am at risk for diabetes so the meal must be healthful.
Today I saw a recipe that I adapted from A year of CrockPotting She has some awesome recipe ideas.
I am making a pork roast. Here are the ingredients list:
Pork Roast (Used 1/2 from Sam's Club, Cost 6.25)
Rosemary Used in the house ~1.00
Cumin Used in the house ~1.50
Salt
Garlic 1 bulb (Yep the whole house smells like garlic .66
Plums 3.00
Apple juice 3.79
Cinnamon stick 7.99
Mashed pots leftovers
Veg 2.29
26.48
Much less then a dinner out and we'll have leftovers for at least one meal so 26.48/2=13.24. Not bad for dinner. The cinnamon sticks were WAY over the top. But I love different spices. I will use them in another meal.
[Update: the pork was Delicious. I'll make it again. I have become a crock pot fan.]
It is really helpful to look at different costs to determine how we are doing on dinners. I am really really bad at spending money at the grocery store. I admit it. SO... If I blog about it I am then accountable. And If I am accountable I can change. I can get out of debt. I can. I can I can.
My reward should be to choose what cross stitch project I am going to bring to AZ. We are going on vacation with our family. And as you ask how can you do that??? My mom is treating us. Thats how. She paid for the tickets, the car rental, and the living arrangements. We are covering a small amount of food and whatever shopping we do there. Is it bad I looked for a cross stitch store online already? there is one there.... Maybe they have some new stash. LOL
So things I need to do to be on track:
Address health care issue
Bank (done)
Errands this morning (done)
Dr this afternoon
Balance my check book - I have not been tallying my budget for the last three months
Fill out financial info
Pay car insurance
Also I would like to do a how much does this dinner really cost. I spent $63.00 at the grocery store today. I bought the ingredients for about 5 days of food
We need to focus on two things: Cost
and Calories - I have high cholesterol and am at risk for diabetes so the meal must be healthful.
Today I saw a recipe that I adapted from A year of CrockPotting She has some awesome recipe ideas.
I am making a pork roast. Here are the ingredients list:
Pork Roast (Used 1/2 from Sam's Club, Cost 6.25)
Rosemary Used in the house ~1.00
Cumin Used in the house ~1.50
Salt
Garlic 1 bulb (Yep the whole house smells like garlic .66
Plums 3.00
Apple juice 3.79
Cinnamon stick 7.99
Mashed pots leftovers
Veg 2.29
26.48
Much less then a dinner out and we'll have leftovers for at least one meal so 26.48/2=13.24. Not bad for dinner. The cinnamon sticks were WAY over the top. But I love different spices. I will use them in another meal.
[Update: the pork was Delicious. I'll make it again. I have become a crock pot fan.]
It is really helpful to look at different costs to determine how we are doing on dinners. I am really really bad at spending money at the grocery store. I admit it. SO... If I blog about it I am then accountable. And If I am accountable I can change. I can get out of debt. I can. I can I can.
My reward should be to choose what cross stitch project I am going to bring to AZ. We are going on vacation with our family. And as you ask how can you do that??? My mom is treating us. Thats how. She paid for the tickets, the car rental, and the living arrangements. We are covering a small amount of food and whatever shopping we do there. Is it bad I looked for a cross stitch store online already? there is one there.... Maybe they have some new stash. LOL
Monday, March 16, 2009
Naughty purchase
For my birthday I have wanted the cross stitch book by Isabelle Haccourt Vautier. Her new book is called "Si la mer m'était comptée".
I love the images on the cover and I cant wait to stitch them. I was frustrated that it was difficult to find the book. Well I did a search on amazon.fr and found it. Then I did a search on amazon.ca and it was there! I was a little worried about the shipping from Canada but it turns out not to be too bad. It is an indulgence I have been wishing for this for about 2 months. I decided to just go for it. I dont spend a lot of money on myself and I really wanted this book. Amazon made it a little too easy. I used my regular amazon account. It worked on the .ca orders too. Shipping info was there ready to go. Billing was one click. Like I said a little too easy. Now I just have to wait for it to ship.
In the mean time I am going to pay my Car insurance... LOL Well there has to be some reality to my day!
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
I love the images on the cover and I cant wait to stitch them. I was frustrated that it was difficult to find the book. Well I did a search on amazon.fr and found it. Then I did a search on amazon.ca and it was there! I was a little worried about the shipping from Canada but it turns out not to be too bad. It is an indulgence I have been wishing for this for about 2 months. I decided to just go for it. I dont spend a lot of money on myself and I really wanted this book. Amazon made it a little too easy. I used my regular amazon account. It worked on the .ca orders too. Shipping info was there ready to go. Billing was one click. Like I said a little too easy. Now I just have to wait for it to ship.In the mean time I am going to pay my Car insurance... LOL Well there has to be some reality to my day!
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Monday, March 09, 2009
monday musings
I have a full plate today so here goes....
I hate Daylight savings time. I always feel so tired for days until my body adjusts. The whole house is sick and that makes the adjustment LONGER. Ugh How many days do you have to be sick before you call the doctor? I would just like to stop coughing!
Financial concerns: If a bank where you have a credit card goes under what happens?I have a plan to eliminate the debt all together. Yet... I have 6 Credit cards left. I am trying to make it 5 as fast as I can. Most have under $2,500 dollars on them and I took offers of 3.9 & 4.9% to gain lower rates. But One card has a little over $12,000 on it. What would I do if they changed the terms? What rights do I have if the bank is taken over? If the bank outright fails and closes its doors would I still owe the money or would it be forgiven? (Boy would my snowball shrink then!) They would probably sell it to a collections service. Would I be able to continue making payments then? Would they want the whole amount at once? (I dont have it so forget it) The offer I have now is 3.9% till the balance is paid off. I do not want to change the terms of that deal. I get plenty of offers in the mail, even these days, to transfer my balances. But most banks have shortened the terms of the offer. 3.99 for 6 months or 0 for three mnonths. I have a plan to eliminate the debt all together. So for myself nothing has changed. I will continue to pay down my cards with no new charges going onto them until the debt is gone. It was a 3 year plan. It is a little longer now with DS in the picture. I will continue on my journey. After all I have already paid down $14,668. whats another $25,135 ??? LOL UGH my stomach hurts seeing that number. But I did it. I ran it up I will pay it off. I think the answer is that there are so many possibilities don't borrow trouble you have no control over. But with all the banking in the news its hard not to watch and wonder.
On happier news. I was able to get a little more done on the baby bib. We are going to AZ in April and I want to have it completed before the trip.
I hate Daylight savings time. I always feel so tired for days until my body adjusts. The whole house is sick and that makes the adjustment LONGER. Ugh How many days do you have to be sick before you call the doctor? I would just like to stop coughing!
Financial concerns: If a bank where you have a credit card goes under what happens?I have a plan to eliminate the debt all together. Yet... I have 6 Credit cards left. I am trying to make it 5 as fast as I can. Most have under $2,500 dollars on them and I took offers of 3.9 & 4.9% to gain lower rates. But One card has a little over $12,000 on it. What would I do if they changed the terms? What rights do I have if the bank is taken over? If the bank outright fails and closes its doors would I still owe the money or would it be forgiven? (Boy would my snowball shrink then!) They would probably sell it to a collections service. Would I be able to continue making payments then? Would they want the whole amount at once? (I dont have it so forget it) The offer I have now is 3.9% till the balance is paid off. I do not want to change the terms of that deal. I get plenty of offers in the mail, even these days, to transfer my balances. But most banks have shortened the terms of the offer. 3.99 for 6 months or 0 for three mnonths. I have a plan to eliminate the debt all together. So for myself nothing has changed. I will continue to pay down my cards with no new charges going onto them until the debt is gone. It was a 3 year plan. It is a little longer now with DS in the picture. I will continue on my journey. After all I have already paid down $14,668. whats another $25,135 ??? LOL UGH my stomach hurts seeing that number. But I did it. I ran it up I will pay it off. I think the answer is that there are so many possibilities don't borrow trouble you have no control over. But with all the banking in the news its hard not to watch and wonder.
On happier news. I was able to get a little more done on the baby bib. We are going to AZ in April and I want to have it completed before the trip.
Monday, March 02, 2009
March Money update
Well I have paid my bills for March. I was Happy with my January progress. I had a really successful pay down of debt. But starting this month the pay off will be much slower! We have started back to work and daycare. It is a big financial commitment to have the baby in daycare. But I do like this place and they seem to care for him which is a good thing. I have committed to DH that I would pay about $500 per month. 
Feb I paid 675. So I am really shy on a food budget and other things. But I want to celebrate progress for what it is. Last month I was at 34% paid. Now I have achieved 36.85% and I have paid off $14,668 of debt. Amazing as I thought I never would get out of debt. What a wonderful thing.
DH and I went to look at an open house over the weekend. To my distress I was sad to say we are not ready to buy. We need to get rid of the credit card debt first. So. to that end I am going to cancel my Yahoo space. It will give me back 15 to my debt every month. I am not using it and It is silly to pay for something I am not using. I still want it don't get me wrong its a great thing to have web space where you can post your portfolio and do extra outside work but if its not paying for itself then it is an expense we dont need. And truthfully I never have time any more. Baby just takes up too much of it.
I think the message for today is that the debt snowball works. Yeah hoo!
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Feb I paid 675. So I am really shy on a food budget and other things. But I want to celebrate progress for what it is. Last month I was at 34% paid. Now I have achieved 36.85% and I have paid off $14,668 of debt. Amazing as I thought I never would get out of debt. What a wonderful thing.DH and I went to look at an open house over the weekend. To my distress I was sad to say we are not ready to buy. We need to get rid of the credit card debt first. So. to that end I am going to cancel my Yahoo space. It will give me back 15 to my debt every month. I am not using it and It is silly to pay for something I am not using. I still want it don't get me wrong its a great thing to have web space where you can post your portfolio and do extra outside work but if its not paying for itself then it is an expense we dont need. And truthfully I never have time any more. Baby just takes up too much of it.
I think the message for today is that the debt snowball works. Yeah hoo!
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Monday, February 23, 2009
Forward March
I received two reminders in the mail this morning for items on my long nagging to do list. They are enroll in business school and re-invest my previous employers retirement into the current employers retirement fund. I moved to this state 2.5 years ago. I have dragged my feet in filling out the paperwork to transfer the funds. It is not worth much but the paperwork is so bad I have yet to have completed the process. UGH. Why do I procrastinate? It serves no purpose but to hurt myself.
Today is my work from home day. It is a great way for me to accomplish work. The baby is at daycare and I am able to focus as long as I need to on any given project. As I am working I also scan in the documents for my records. It takes soooo much time! but I feel more secure in having my documents backed up if I need to . I was so behind on my desk after having my baby that I emptied the shredder three times! how long do you keep healthcare information??? 1 year. 30 days?
So the dilemma - Go back to school for masters or get a job weekends to pay off the debt sooner. Dave ramsey would say job. the payoff long term is the MBA. What if we could pay off the debt in 2 years AND I could be half done with my MBA?
Undecided I am going to just leave this post with an open question. Feel free to comment.
Today is my work from home day. It is a great way for me to accomplish work. The baby is at daycare and I am able to focus as long as I need to on any given project. As I am working I also scan in the documents for my records. It takes soooo much time! but I feel more secure in having my documents backed up if I need to . I was so behind on my desk after having my baby that I emptied the shredder three times! how long do you keep healthcare information??? 1 year. 30 days?
So the dilemma - Go back to school for masters or get a job weekends to pay off the debt sooner. Dave ramsey would say job. the payoff long term is the MBA. What if we could pay off the debt in 2 years AND I could be half done with my MBA?
Undecided I am going to just leave this post with an open question. Feel free to comment.
Friday, February 20, 2009
I have clarity once again
Cents:
I have managed to regain focus. It only took filling up the shredder three times! I have eliminated all the Credit card Fodder. I have sorted all my documents into a Scan pile, a Take Action pile and a Tax pile. I have written up my todo list and prioritized it. I can see the surface of my desk for the first time in two months. And it is the first time in 4 months I feel organized. Phew what a difference having a work from home day makes. It is amazing!I feel so much better.
For right now I am scanning. I need to focus on high priority items but I have less then perfect focus so I am doing the low priority and waiting until the caffeine kicks in.
I have received letters from one Card that increases my limit. It is also changing my terms. Mostly it will not effect me as I took advantage to transfer balance with an offer of 4.9% for the life of the balance. Now if they change that rate with a different rate I will be transferring the balance to a new card. But for now I am keeping an eye on it. Thats why you have to look at all of your cards each month. Those silly banks like to play games. There are no additional fees and they do not seem to have changed the grace period. As I am just paying off existing balances the grace period is not really an issue either. No new charges on any card. Period.
Stitches:
I have started working on the CUTEST bib ever for my son. I love this pattern. I am sure I will want to stitch it again as a gift for someone else. I love it! Here is a pic of the progress. The design is called "Snips & Snails & Puppy Dog Tails" by Stoney Creek Collection. I bought the pre-made bib to go along with it. Oh I love it! It can be found here if you are interested.
I have managed to regain focus. It only took filling up the shredder three times! I have eliminated all the Credit card Fodder. I have sorted all my documents into a Scan pile, a Take Action pile and a Tax pile. I have written up my todo list and prioritized it. I can see the surface of my desk for the first time in two months. And it is the first time in 4 months I feel organized. Phew what a difference having a work from home day makes. It is amazing!I feel so much better.
For right now I am scanning. I need to focus on high priority items but I have less then perfect focus so I am doing the low priority and waiting until the caffeine kicks in.
I have received letters from one Card that increases my limit. It is also changing my terms. Mostly it will not effect me as I took advantage to transfer balance with an offer of 4.9% for the life of the balance. Now if they change that rate with a different rate I will be transferring the balance to a new card. But for now I am keeping an eye on it. Thats why you have to look at all of your cards each month. Those silly banks like to play games. There are no additional fees and they do not seem to have changed the grace period. As I am just paying off existing balances the grace period is not really an issue either. No new charges on any card. Period.
Stitches:
I have started working on the CUTEST bib ever for my son. I love this pattern. I am sure I will want to stitch it again as a gift for someone else. I love it! Here is a pic of the progress. The design is called "Snips & Snails & Puppy Dog Tails" by Stoney Creek Collection. I bought the pre-made bib to go along with it. Oh I love it! It can be found here if you are interested.
Saturday, February 07, 2009
Finance update
It takes me longer then previous life before baby to stay on top of the finances. However DH watched the little guy for a while this morning and I am sitting in the cold basement typing up the results. Good news. I have paid down $13,859.19 in debt in one year. Yahoo! The debt snowball plan works. It really works.
Friday, January 30, 2009
I Have a finish!
I did it I finished a cross stitch project! I was not to bad either. I have so many completed but not finished projects I cant begin to tell you. I actually followed the steps in this tutorial http://hannahxs.blogspot.com/2007/11/no-sew-cube-tutorial.html It made it very easy.
Here are photos of my progress.
This is a gift for my Daughter. I made it so long ago she may not want it anymore. But I do like the way it turned out. Lets hope this will inspire me to finish more.
On the Cost front it was not terribly expensive to finish. I purchased two fat quarters, some red tag ribbon and styrofoam for the center. Total cost was about$12.50. It came out of my Misc. Category in my budget. It made me very happy to spend the day working on something crafty. Totally worth the cost.
Here are photos of my progress.
This is a gift for my Daughter. I made it so long ago she may not want it anymore. But I do like the way it turned out. Lets hope this will inspire me to finish more.
On the Cost front it was not terribly expensive to finish. I purchased two fat quarters, some red tag ribbon and styrofoam for the center. Total cost was about$12.50. It came out of my Misc. Category in my budget. It made me very happy to spend the day working on something crafty. Totally worth the cost.
Baby decided he wanted me to wake up at 6:30 and stay awake. hmmm now he is back to sleep and I am up for the day. So just a quick entry before I grab a much needed shower....
Stitching:
I am working on a heart ornament. The pattern is from Just Cross Stitch Mag Jan/Feb 09 issue. I asked my DD to give me a subscription for my Christmas gift. I stopped getting any magazines a long long time ago as they were an unneeded expense. But I just missed JCS too much. I am altering the thr
ead colors for the first attempt at it. I will maybe make it again in the brown as shown in the Mag. I never would have attempted a change in the pattern except for the inspiration that I have gotten reading others blogs. It is really helpful to see what other stitchers are doing and use those techniques for my own.
My local needlework shop (LNS) has sent me a coupopn for my birthday month. Ah the pleasure... What shall I get? Have to be careful about too much temptation. However on the other side of that I have only 2 weeks of maternity leave left so I should take advantage of shopping while I am still able to get out and about easily. I am sure the tiredness will return as I return to work as well as my ability to accomplish anything will again diminish.
Cents:
I really need time to spend at my desk. I am driving myself crazy with what needs to be done and what is left undone. When I return to work I will have one day where I can work from home per week. Typically I spend about half of my work day clearing off my desk and taking care of my paperwork that needs attention. It short of shifts me into work mode and makes it easier to transition into attention to details. The problem with sitting at my desk right now is with the baby it is just too cold for me to have him sit downstairs. We keep the heat off in that room to save as much money as possible. So I accomplish nothing. If I could get him to nap peacefully I would be able to sneak away. Today that is not going to happen. SIGH... Maybe tomorrow
Stitching:
I am working on a heart ornament. The pattern is from Just Cross Stitch Mag Jan/Feb 09 issue. I asked my DD to give me a subscription for my Christmas gift. I stopped getting any magazines a long long time ago as they were an unneeded expense. But I just missed JCS too much. I am altering the thr
ead colors for the first attempt at it. I will maybe make it again in the brown as shown in the Mag. I never would have attempted a change in the pattern except for the inspiration that I have gotten reading others blogs. It is really helpful to see what other stitchers are doing and use those techniques for my own.My local needlework shop (LNS) has sent me a coupopn for my birthday month. Ah the pleasure... What shall I get? Have to be careful about too much temptation. However on the other side of that I have only 2 weeks of maternity leave left so I should take advantage of shopping while I am still able to get out and about easily. I am sure the tiredness will return as I return to work as well as my ability to accomplish anything will again diminish.
Cents:
I really need time to spend at my desk. I am driving myself crazy with what needs to be done and what is left undone. When I return to work I will have one day where I can work from home per week. Typically I spend about half of my work day clearing off my desk and taking care of my paperwork that needs attention. It short of shifts me into work mode and makes it easier to transition into attention to details. The problem with sitting at my desk right now is with the baby it is just too cold for me to have him sit downstairs. We keep the heat off in that room to save as much money as possible. So I accomplish nothing. If I could get him to nap peacefully I would be able to sneak away. Today that is not going to happen. SIGH... Maybe tomorrow
Sunday, January 25, 2009
Stitching purchases
Stitching:
I purchased the Over the top tin by Just Nan. It arrived in the mail yesterday. I am so excited. I have been a cross stitcher for many years. In 2005 I looked for cross stitch blogs.There were not many blogs out there. So I continued on with the idea that cross stitch was dying out as there are not many cross stitchers. (Michaels and other craft stores used to carry TONS of stuff for cross stitch. Now a days its all about scrapbooking and very very few cross stitch patterns are carried in craft stores.) Last year I began to pay off my credit card debt. During that process I started reading Personal Finance blogs. In Sept/Oct I searched again for Cross stitch blogs. Jackpot. I found a few. Then a few more.... I found I missed all the interaction. I have been introduced to new designers. I have been inspired by other stitchers and I am enjoying planning other projects again. One of those designers is Just Nan. I was so jealous of the tins people posted on their blogs. They all sold out so fast. So I ordered one for me. I really like it. I cant wait to start stitching. First though I have a few things to work on. I need to make a small gift for my DD for Valentine's day. (DS dosent need a gift at 2.5 months old he will never notice!) so as the holiday approaches I have to make that first. For Christmas my DH purchased a bunch of patterns for me. One of them is a bib for DS. That will be next. Then OTT tin. I have been working on my Lavender & Lace project and it is close to completion but I cant have too many Cross stitch patterns going at once. First of all it takes too much space in the Living room. Secondly with DS taking so much of my attention these days I am lucky if I get to stitch on any given day. So there it is. Just Nan awaits. I am so psyched.
Cents:
The tin kit was not too expensive. I have not been driving very much while on maternity leave. and I used the budget item of gas as justification for the purchase. In every day living I shop only for food and necessities. I also need something to be stimulating me while I am home. I love my new son but a conversationalist he is not... yet. Although lately he does try lots of wonderful coos. So I justified it that way. Plus it will go away if I do not purchase it now.
I can justify it all I want to but the truth is it would be better if you put the cash towards debt. The challenge there is if I feel so deprived that I never get to purchase anything for myself this is not a good debt reduction plan. So balance is important. I purchased one thing for myself this month. And a couple of items for DD valentines Day. Then I am finished. This is good balance.The rest of my money to the dreaded credit cards. I will be out of debt soon. I have a plan.
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
I purchased the Over the top tin by Just Nan. It arrived in the mail yesterday. I am so excited. I have been a cross stitcher for many years. In 2005 I looked for cross stitch blogs.There were not many blogs out there. So I continued on with the idea that cross stitch was dying out as there are not many cross stitchers. (Michaels and other craft stores used to carry TONS of stuff for cross stitch. Now a days its all about scrapbooking and very very few cross stitch patterns are carried in craft stores.) Last year I began to pay off my credit card debt. During that process I started reading Personal Finance blogs. In Sept/Oct I searched again for Cross stitch blogs. Jackpot. I found a few. Then a few more.... I found I missed all the interaction. I have been introduced to new designers. I have been inspired by other stitchers and I am enjoying planning other projects again. One of those designers is Just Nan. I was so jealous of the tins people posted on their blogs. They all sold out so fast. So I ordered one for me. I really like it. I cant wait to start stitching. First though I have a few things to work on. I need to make a small gift for my DD for Valentine's day. (DS dosent need a gift at 2.5 months old he will never notice!) so as the holiday approaches I have to make that first. For Christmas my DH purchased a bunch of patterns for me. One of them is a bib for DS. That will be next. Then OTT tin. I have been working on my Lavender & Lace project and it is close to completion but I cant have too many Cross stitch patterns going at once. First of all it takes too much space in the Living room. Secondly with DS taking so much of my attention these days I am lucky if I get to stitch on any given day. So there it is. Just Nan awaits. I am so psyched.
Cents:
The tin kit was not too expensive. I have not been driving very much while on maternity leave. and I used the budget item of gas as justification for the purchase. In every day living I shop only for food and necessities. I also need something to be stimulating me while I am home. I love my new son but a conversationalist he is not... yet. Although lately he does try lots of wonderful coos. So I justified it that way. Plus it will go away if I do not purchase it now.
I can justify it all I want to but the truth is it would be better if you put the cash towards debt. The challenge there is if I feel so deprived that I never get to purchase anything for myself this is not a good debt reduction plan. So balance is important. I purchased one thing for myself this month. And a couple of items for DD valentines Day. Then I am finished. This is good balance.The rest of my money to the dreaded credit cards. I will be out of debt soon. I have a plan.
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Tuesday, January 20, 2009
Stitching and Cents
Well I am finally afforded 20 minutes to type. It is much harder then I imagined to get to my computer during the day with an 8 week old baby. My computer is in the basement and It is much too cold to bring him down there. Laptop??? Of course, but at night when I finally sit down typing is awkward and If the baby is sleeping I need to be sleeping. But here I am .... and things ARE settling down.
PF bloggers if hobby talk bores you skip down to the Cents section.
Stitching:
I am posting a photo of progress. It has been a delight to get back to stitching. I am trying to figure out how to move the Q-snaps so as not to muck up the beading. I have seen other stitchers using quilted batting around the frame to help in holding the frame in place. It occurred to me that the batting might solve the bead issue. I am worried about moving the frame and it would rip out the beading that had been completed. I like to mix it up I like to stitch a color, then do a metallic which I do not like to stitch with but I do like the end result. It keeps my frustration level at the end of a stitching piece low. I always save the back stitch for the whole piece till the end. I am also reconsidering that.
It is a big piece and It might be better if I did it in quadrants instead. We'll see. I do feel good about how far I have gotten this week. I had to frog 60 rows of white because the two skeins were different colors. It took me 3 days to pull all the stitches! One was a regular white from old and one a bright white. Hazards of using stash I suppose. I am so happy to be stitching again.
I finally have time to spend on stitching and I am just going to take it one step at a time. I would like to finish this project this year. After its completion, I am going to move on to smaller projects so I can get more done. I also am going to try and complete my finishes. I have never done a pin keep or a cube and I have plans to do one of each for my DD. I am also considering sending out some of the items to be finished because I know I will never get to it. I will post my progress here. Oh and I am dropping the sled project. I started it. But
I hate the colors of the bow. Not shown in this pic. And it has been a long time since I stitched on Aida cloth. I don't like it any more. I am too addicted to linen. So rather then waste time doing something I don't like I am dropping the whole thing. I might do the pattern later with different threads but. Not right now.
Cents and Sense:
Things I have accomplished this week...
1) I called CC#1 and had them adjust the "Past Purchases" balance to macth the new purchases interest rate.
2) My DH and I had a discussion about the Home purchase fund. He feels it is mathmatically smarter to pay off the credit card then to hold on to 3K for closing costs. I can see his argument, but it gave me a major sense of security. I knew that if there was an absolute extreme emergency we could dip into the fund. On the other hand it is silly to be losing money on 3K when I could gain progress on the debt reduction. Including the fact that I will be decreasing the amount of money I am putting toward debt each month. I am increasing my healthcare, I am adding child care. I really need to set time aside to do the budget for this year and that is really hard to come by.
3) Insurance. I followed up with the insurance company regarding submitting a bill for my son. He saw the Dr. In Dec and the insurance company does not have him covered starting in 2008. However... He is covered in 2009. Great execpt if I get an insurance bill in Dec for any office visits he should have been covered. So I called my employeer. They now have to follow up. and I am sure that things will need to be followed up with more later. What does this have to do with personal finance... Well I was sent a bill by the pediatrician for $223.00. I certainly would like to save that money out of pocket, He also went to the Hospital for two tests and there are probably one other insurance statements we havent seen yet from his birth. The less I pay out of pocket the farther my income goes to pay off my credit card debt.
What makes sense? Follow up follow up follow up.
I saw an item in a magazine yesterday while sitting in a doctors waiting room. there were clothes pins with each day labeled on them. I need to do one thing on my desk each day. I started With CC#1, continued with paying bills Tuesday, and follow up with insurance. I need to do one thing each day so that I can feel accomplished and organized again. I have so much to do I cant seem to wrap my head around it all. So I am doing it the way the pros do, one step at a time... Break it down and take it in small steps until the chunks are gone.
That goes for stitching too.
PF bloggers if hobby talk bores you skip down to the Cents section.
Stitching:
I am posting a photo of progress. It has been a delight to get back to stitching. I am trying to figure out how to move the Q-snaps so as not to muck up the beading. I have seen other stitchers using quilted batting around the frame to help in holding the frame in place. It occurred to me that the batting might solve the bead issue. I am worried about moving the frame and it would rip out the beading that had been completed. I like to mix it up I like to stitch a color, then do a metallic which I do not like to stitch with but I do like the end result. It keeps my frustration level at the end of a stitching piece low. I always save the back stitch for the whole piece till the end. I am also reconsidering that.
It is a big piece and It might be better if I did it in quadrants instead. We'll see. I do feel good about how far I have gotten this week. I had to frog 60 rows of white because the two skeins were different colors. It took me 3 days to pull all the stitches! One was a regular white from old and one a bright white. Hazards of using stash I suppose. I am so happy to be stitching again.
I finally have time to spend on stitching and I am just going to take it one step at a time. I would like to finish this project this year. After its completion, I am going to move on to smaller projects so I can get more done. I also am going to try and complete my finishes. I have never done a pin keep or a cube and I have plans to do one of each for my DD. I am also considering sending out some of the items to be finished because I know I will never get to it. I will post my progress here. Oh and I am dropping the sled project. I started it. But
I hate the colors of the bow. Not shown in this pic. And it has been a long time since I stitched on Aida cloth. I don't like it any more. I am too addicted to linen. So rather then waste time doing something I don't like I am dropping the whole thing. I might do the pattern later with different threads but. Not right now.Cents and Sense:
Things I have accomplished this week...
1) I called CC#1 and had them adjust the "Past Purchases" balance to macth the new purchases interest rate.
2) My DH and I had a discussion about the Home purchase fund. He feels it is mathmatically smarter to pay off the credit card then to hold on to 3K for closing costs. I can see his argument, but it gave me a major sense of security. I knew that if there was an absolute extreme emergency we could dip into the fund. On the other hand it is silly to be losing money on 3K when I could gain progress on the debt reduction. Including the fact that I will be decreasing the amount of money I am putting toward debt each month. I am increasing my healthcare, I am adding child care. I really need to set time aside to do the budget for this year and that is really hard to come by.
3) Insurance. I followed up with the insurance company regarding submitting a bill for my son. He saw the Dr. In Dec and the insurance company does not have him covered starting in 2008. However... He is covered in 2009. Great execpt if I get an insurance bill in Dec for any office visits he should have been covered. So I called my employeer. They now have to follow up. and I am sure that things will need to be followed up with more later. What does this have to do with personal finance... Well I was sent a bill by the pediatrician for $223.00. I certainly would like to save that money out of pocket, He also went to the Hospital for two tests and there are probably one other insurance statements we havent seen yet from his birth. The less I pay out of pocket the farther my income goes to pay off my credit card debt.
What makes sense? Follow up follow up follow up.
I saw an item in a magazine yesterday while sitting in a doctors waiting room. there were clothes pins with each day labeled on them. I need to do one thing on my desk each day. I started With CC#1, continued with paying bills Tuesday, and follow up with insurance. I need to do one thing each day so that I can feel accomplished and organized again. I have so much to do I cant seem to wrap my head around it all. So I am doing it the way the pros do, one step at a time... Break it down and take it in small steps until the chunks are gone.
That goes for stitching too.
Monday, January 05, 2009
taking care of yourself
Sometimes I forget to take care of myself. I become wrapped up in what needs to be done and I focus on the tasks at hand. The thing that gets added lastly to the list is me. My DH yelled at me for doing it again as I was feeling frustrated because I was not able to figure out all my bills the way they should be. I needed time to sit at my desk and I was feeling VERY stressed as a result to the hight of each of the piles. Needless to say I had to ask for time to sit at my desk and take care of some of the piles. It is stunning how much mail I receive and how much time it takes for me to focus on each task and take care of things. I hate the amount of time it takes.
So as my reward I ordered a cross stitch calendar for myself. I should have ordered it earlier. but I was hoping Santa would get it for me. It was on my wish list. The calender is no longer available. It is on order but I doubt I will be able to get it. SIGH. I just needed to speak up sooner.
On the Credit card front....
I noticed that in CC#1 Statement they did adjust the rate BUT... They did not adjust the rate of past purchases. The past purchase rate stayed the same. I noticed a while ago but Dh is watching little stuff and I am slowly recovering my baby brain so here goes... I called again. I told the first customer service person the story. Oh let me transfer you. Ok I told the second Customer service person. Ok Let me see. I got a third customer service person. OK here we go again. But cheerfully I went through the explanation of why I was calling again. I noticed that the "past purchases" rate did not change and I wanted the two rates to be the same. Oh I see. He said. Let me fix that for you. And he did. I should see it reflected on the next statement. Hooray! I do think being pleasant and cheerful helped. It also helps to be persistent. I spoke with three different people before I got to yes.
So as my reward I ordered a cross stitch calendar for myself. I should have ordered it earlier. but I was hoping Santa would get it for me. It was on my wish list. The calender is no longer available. It is on order but I doubt I will be able to get it. SIGH. I just needed to speak up sooner.
On the Credit card front....
I noticed that in CC#1 Statement they did adjust the rate BUT... They did not adjust the rate of past purchases. The past purchase rate stayed the same. I noticed a while ago but Dh is watching little stuff and I am slowly recovering my baby brain so here goes... I called again. I told the first customer service person the story. Oh let me transfer you. Ok I told the second Customer service person. Ok Let me see. I got a third customer service person. OK here we go again. But cheerfully I went through the explanation of why I was calling again. I noticed that the "past purchases" rate did not change and I wanted the two rates to be the same. Oh I see. He said. Let me fix that for you. And he did. I should see it reflected on the next statement. Hooray! I do think being pleasant and cheerful helped. It also helps to be persistent. I spoke with three different people before I got to yes.
Saturday, January 03, 2009
January begins again
January begins again. Thank God that I put my goals on automatic pilot. I have just added up all my payments with the year end and in 2008 I paid down 13,255.42 in debt. I paid off 33.3% of my total debt. Man I rock. I even made progress in December even though I was trying to hold steady at no new debt. I accomplished that and more. I am so proud of myself. I managed to pass through Christmas without getting further into debt. WOW. I did it. Wow. I need to take time to bask in that.
Plans for 2009... The same as this year but at a slower rate. I will not have as much money for bills as I did before. Happy baby boy needs Daycare. I have allocated Some funds to pay off the debt though and I will continue to try.
My credit card #1 is paid off. My credit card #2 is paid down to 68% of the original amount. I will keep chunking away at it. My DH yelled at me to take care of myself. He thinks I need new socks. I think I need to make due with what I have until the debt is paid off. By paying off the debt I am taking care of myself.
I will post more later. For now Lunch is calling.
Plans for 2009... The same as this year but at a slower rate. I will not have as much money for bills as I did before. Happy baby boy needs Daycare. I have allocated Some funds to pay off the debt though and I will continue to try.
My credit card #1 is paid off. My credit card #2 is paid down to 68% of the original amount. I will keep chunking away at it. My DH yelled at me to take care of myself. He thinks I need new socks. I think I need to make due with what I have until the debt is paid off. By paying off the debt I am taking care of myself.
I will post more later. For now Lunch is calling.
Thursday, November 13, 2008
Lower rate early payoff??
The math way of organizing Credit cards says to pay off the highest interest rate first. I like saving money. Last weekend when CC#2 lowered my rate I stopped and paused. Should I now refocus on another card CC#3 with a rate of 12.9% interest and let the 9.9% ride? But I have decided to keep paying off CC#2. there are two reasons. The savings over 6 months is maybe about $180.00 total. It would have me paying off debt a tiny little earlier. BUT I have a baby coming. If I had to just pay the minimums on all my cards because of additional child care expenses it would be better to have fewer cards then lower interest rates. I don't think the change is focus is worth it. So I am following Dave Ramsey' snowball temporarily until this CC #2 is paid off. I think it should be complete by May of next year. Security is more important then $180.00 in fees. Then I will return to highest interest rate card first. It will really depend on Christmas expenses and how pay checks work while I am on short term disability and maternity leave. It is good to have an emergency fund so I know I can cover one month's expenses. Hopefully after that all the funds will kick in properly and I will be receiving a regular pay check. It will be a fine balance I am sure. My employer while a strong stable company is known for its flubs on payments. So I am a little nervous. One day at a time road traveled. One day at a time.
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