Comments on: Preparing for a Financial Shake-Up http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/ Our Journey to a Debt-Free Life Sat, 21 Nov 2009 00:50:32 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Susan http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-292109 Susan Tue, 01 Jan 2008 04:31:37 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-292109 Trish: It is impossible to find a $35,000 in the US: a price of a nice car. You really might want to hold on to it, and in fact pay it off quickly. Many of us have taxes or HOAs that cost more than your mortgage. It would be nice to have it paid in full, and if you have a renter in covering most of it--so much the better. You have the tax deduction as well, which may pay for itself. The trick is to ask for a deposit, first and last and a security deposit. It is worth consideration. HAPPY NEW YEAR and a prosperous 2008 to all. Trish: It is impossible to find a $35,000 in the US:
a price of a nice car. You really might want to hold on to it, and in fact pay it off quickly. Many of us have taxes or HOAs that cost more than your mortgage. It would be nice to have it paid in full, and if you have a renter in covering most of it–so much the better. You have the tax deduction as well, which may pay for itself. The trick is to ask for a deposit, first and last and a security deposit. It is worth consideration.
HAPPY NEW YEAR and a prosperous 2008 to all.

]]> By: shira http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-292088 shira Tue, 01 Jan 2008 03:21:50 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-292088 Just found your blog - LOVE IT! Nice posts and useful links - Great job! My husband and I are just starting "the process" of not only debt reduction but also wealth building. I look forward to reading more of your blog! shira averagejoeinvesting.blogspot.com Just found your blog – LOVE IT! Nice posts and useful links – Great job!

My husband and I are just starting “the process” of not only debt reduction but also wealth building.

I look forward to reading more of your blog!

shira
averagejoeinvesting.blogspot.com

]]> By: Shana http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-291629 Shana Mon, 31 Dec 2007 19:30:01 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-291629 I generally like knowing how my life is going to go, so I understand your frustrations. However, one thing I've learned in the (reasonably extensive) travelling that I've done, is to go with what happens wherever you are. You can only control so much, and it's a great relief to feel at ease enough to realize and accept that, and to commit to embracing what happens *when* it happens. You're doing a smart thing by consciously saving more money right now, and that's very smart. I wrote recently about how it's necessary to alter budgets from time to time, depending on various circumstances (http://smarteasymoney.blogspot.com/2007/12/on-basic-money-management.html). Also know that relocation expenses because of a job are tax deductible, so you could easily see some savings in next year's tax bill, which could be an unexpected windfall for your family. What someone mentioned about renting your house sounds like a really great idea, since your mortgage is so low. Unless you were really counting on potential profits for your house, this is probably the very best thing you can do. In addition, you keep the house and have an extra stream of income -- which is one of the best ways to build personal wealth. Yoga, basic stretching, or even mild exercise will definitely help with your stress level. I can't count the number of times I've been blue or upset, and then it all changes within an hour after I go dancing or for a long walk. If you know anyone with a dog, offer to walk the dog. Alternately, you could go to your local animal shelter and volunteer for dog walking there (I know someone who does this in my city). There's nothing like a little exercise and/or being around animals to noticeably reduce stress. Good luck!! I generally like knowing how my life is going to go, so I understand your frustrations. However, one thing I’ve learned in the (reasonably extensive) travelling that I’ve done, is to go with what happens wherever you are. You can only control so much, and it’s a great relief to feel at ease enough to realize and accept that, and to commit to embracing what happens *when* it happens. You’re doing a smart thing by consciously saving more money right now, and that’s very smart. I wrote recently about how it’s necessary to alter budgets from time to time, depending on various circumstances (http://smarteasymoney.blogspot.com/2007/12/on-basic-money-management.html). Also know that relocation expenses because of a job are tax deductible, so you could easily see some savings in next year’s tax bill, which could be an unexpected windfall for your family.

What someone mentioned about renting your house sounds like a really great idea, since your mortgage is so low. Unless you were really counting on potential profits for your house, this is probably the very best thing you can do. In addition, you keep the house and have an extra stream of income — which is one of the best ways to build personal wealth.

Yoga, basic stretching, or even mild exercise will definitely help with your stress level. I can’t count the number of times I’ve been blue or upset, and then it all changes within an hour after I go dancing or for a long walk. If you know anyone with a dog, offer to walk the dog. Alternately, you could go to your local animal shelter and volunteer for dog walking there (I know someone who does this in my city). There’s nothing like a little exercise and/or being around animals to noticeably reduce stress.

Good luck!!

]]> By: Maria http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-291429 Maria Mon, 31 Dec 2007 12:55:03 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-291429 Tricia: once you and your husband are ready to go to a particular place, put the word out! As near as I can tell, you have readers from all over the country and many of us would be happy to provide you with tips about housing, schools, thrift stores etc. Don't be afraid and don't let yourself get too down! My husband and I have moved with our kids on a couple of occassions and it was always tiring and a bit stressful, but not impossible! Best of luck and Happy New Year! Tricia: once you and your husband are ready to go to a particular place, put the word out! As near as I can tell, you have readers from all over the country and many of us would be happy to provide you with tips about housing, schools, thrift stores etc. Don’t be afraid and don’t let yourself get too down! My husband and I have moved with our kids on a couple of occassions and it was always tiring and a bit stressful, but not impossible! Best of luck and Happy New Year!

]]> By: angiebaby http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-291349 angiebaby Mon, 31 Dec 2007 11:11:31 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-291349 T- you are an awesome inspiration to me. I've been reading your blog all year and find your words very inspirational. I am so proud of you that you are ready to take the plunge and go for the move. You're so young that I think living rural at this time in your life is kind of waste - you two have so much living to do & the small town will always be there if you change your mind. :) Chin up baby cakes! Life is going to treat you right this year, I can feel it! T- you are an awesome inspiration to me. I’ve been reading your blog all year and find your words very inspirational. I am so proud of you that you are ready to take the plunge and go for the move. You’re so young that I think living rural at this time in your life is kind of waste – you two have so much living to do & the small town will always be there if you change your mind. :) Chin up baby cakes! Life is going to treat you right this year, I can feel it!

]]> By: Jana http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-291037 Jana Mon, 31 Dec 2007 03:05:04 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-291037 Tricia - you've been my inspiration in starting on the "get rid of debt/start saving" program. You've mentioned ways to save, find deals, pay debt and pile extra payments when possible. i know you will survive this move! you are involved in this wonderful relm of debt-payer & saver bloggers... just keep current blogging and reading. you will make it. (ps - boxing stuff up also helps to relieve stress:) Tricia – you’ve been my inspiration in starting on the “get rid of debt/start saving” program. You’ve mentioned ways to save, find deals, pay debt and pile extra payments when possible. i know you will survive this move! you are involved in this wonderful relm of debt-payer & saver bloggers… just keep current blogging and reading. you will make it. (ps – boxing stuff up also helps to relieve stress:)

]]> By: Ryan S. http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290966 Ryan S. Mon, 31 Dec 2007 00:40:02 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290966 Good luck, Tricia! I've been considering leaving my 12 plus year job that's been pretty high paying and secure because the organization's going in directions I don't care for, so I can use these tips to prepare myself for what might be tough. - Ryan http://uncommon-cents.net/ Good luck, Tricia! I’ve been considering leaving my 12 plus year job that’s been pretty high paying and secure because the organization’s going in directions I don’t care for, so I can use these tips to prepare myself for what might be tough.
-
Ryan
http://uncommon-cents.net/

]]> By: Janelle http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290945 Janelle Sun, 30 Dec 2007 23:11:16 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290945 You could always rent your house instead of selling it. Since your mortgage is so low, maybe you could rent it for more than what your mortgage is. With having such a low mortgage and living expenses, I honestly would think twice about moving. I'm in Washington State and you can't rent a home for under $1400 in my area. And grocery prices here are very high compared to other parts of the country. I visited a relative in Missouri last May and got to go in my first Aldi's. Wow. Can you say cheap?! I can't get their prices on the best sales in my area. You could always rent your house instead of selling it. Since your mortgage is so low, maybe you could rent it for more than what your mortgage is. With having such a low mortgage and living expenses, I honestly would think twice about moving. I’m in Washington State and you can’t rent a home for under $1400 in my area. And grocery prices here are very high compared to other parts of the country. I visited a relative in Missouri last May and got to go in my first Aldi’s. Wow. Can you say cheap?! I can’t get their prices on the best sales in my area.

]]> By: rob in madrid http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290895 rob in madrid Sun, 30 Dec 2007 20:01:24 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290895 what about moving and renting? House prices are heading down anyways so renting may make sense. You also may want to check out Dave Ramsey as well, alot of people really like his stuff what about moving and renting? House prices are heading down anyways so renting may make sense. You also may want to check out Dave Ramsey as well, alot of people really like his stuff

]]> By: Nine Circles http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290875 Nine Circles Sun, 30 Dec 2007 19:00:26 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290875 One more thing you can do as soon as you know what area you'll be moving to is to put out the word that you need info about that area. I'm sure you will quickly get all kinds of advice on where the best deals are to be had. One more thing you can do as soon as you know what area you’ll be moving to is to put out the word that you need info about that area. I’m sure you will quickly get all kinds of advice on where the best deals are to be had.

]]> By: Connie http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290858 Connie Sun, 30 Dec 2007 17:59:19 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290858 I moved last year from the San Francisco Bay Area (one of the most expensive places to live in the US) to central CA, the 3rd most depressed area of CA. I too "lost" my great thrift shops, my cheap stores,etc., but have greatly enjoyed the change. As far as selling your house & renting, check out Millionaire Mommy Next Door website and follow the links about "rent vs. buy". I think it may cheer you up to find out that owning isn't all it's cracked up to be. I sold my house three years ago & only toy with wanting another one. For now, the freedom of knowing I can give 30 day notice & go is pretty exhiliarating. I too suffer from depression and Mrs. Micah's advice about the Feeling Good book and some anti depressants is right on time. Good luck in your new adventure. I moved last year from the San Francisco Bay Area (one of the most expensive places to live in the US) to central CA, the 3rd most depressed area of CA. I too “lost” my great thrift shops, my cheap stores,etc., but have greatly enjoyed the change. As far as selling your house & renting, check out Millionaire Mommy Next Door website and follow the links about “rent vs. buy”. I think it may cheer you up to find out that owning isn’t all it’s cracked up to be. I sold my house three years ago & only toy with wanting another one. For now, the freedom of knowing I can give 30 day notice & go is pretty exhiliarating. I too suffer from depression and Mrs. Micah’s advice about the Feeling Good book and some anti depressants is right on time. Good luck in your new adventure.

]]> By: Tricia http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290821 Tricia Sun, 30 Dec 2007 15:56:19 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290821 dcsmith - you are so very right. Susan - you are right as well. I am seeing the glass as half empty lately and I'm trying to snap myself out of it (like I have been able to in the past) but with the stress I've been under it has been difficult. Mrs. Micah - I hope to be able to sell our house and make some money from it. But we have paid so little on the principal on our mortgage and our housing market is so bad that I can't count on money from selling. When we do move, we will be renting for quite a while. Thank you for the depression suggestions. It is sunny out right now (which is rare for us in the winter) and I think we'll go out and sled in our yard and shovel some snow. dcsmith – you are so very right.

Susan – you are right as well. I am seeing the glass as half empty lately and I’m trying to snap myself out of it (like I have been able to in the past) but with the stress I’ve been under it has been difficult.

Mrs. Micah – I hope to be able to sell our house and make some money from it. But we have paid so little on the principal on our mortgage and our housing market is so bad that I can’t count on money from selling. When we do move, we will be renting for quite a while. Thank you for the depression suggestions. It is sunny out right now (which is rare for us in the winter) and I think we’ll go out and sled in our yard and shovel some snow.

]]> By: Mrs. Micah http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290820 Mrs. Micah Sun, 30 Dec 2007 15:44:44 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290820 You're quite strong and resourceful, Tricia. Shakeups like moving can really suck, but it doesn't have to be all bad. Perhaps you'll be able to find a slightly smaller house for less. And with selling this one, you'll already have something to put towards it. Sounds like you've got a lot of good thoughts. For the depression, I'd recommend getting sunlight (if possible), exercise (even walks), meditation, and borrowing or buying a cheap copy of Feeling Good by David Burns. Literally helped save my life. (Along with antidepressants and a good therapist who used the book as my homework). You’re quite strong and resourceful, Tricia. Shakeups like moving can really suck, but it doesn’t have to be all bad. Perhaps you’ll be able to find a slightly smaller house for less. And with selling this one, you’ll already have something to put towards it.

Sounds like you’ve got a lot of good thoughts. For the depression, I’d recommend getting sunlight (if possible), exercise (even walks), meditation, and borrowing or buying a cheap copy of Feeling Good by David Burns. Literally helped save my life. (Along with antidepressants and a good therapist who used the book as my homework).

]]> By: Susan http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290803 Susan Sun, 30 Dec 2007 14:59:57 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290803 Oops! I meant the "glass half empty." It's still early in Las vegas. :) Oops! I meant the “glass half empty.” It’s still early in Las vegas.
:)

]]> By: Susan http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290802 Susan Sun, 30 Dec 2007 14:58:42 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290802 Trish: I think you're looking at the glass being half full. The balance of your debt against your savings is only $14,464. This is less than a new economy car, which you would probably need if you both worked in the city. Stress/depression are very serious problems. Exercise/yoga offers great relief as do seretonin based antidepressants. Talk to your doctor. This might help with your smoking as well. Cheer up..you're doing great. Trish: I think you’re looking at the glass being half full. The balance of your debt against your savings is only $14,464. This is less than a new economy car, which you would probably need if you both worked in the city. Stress/depression are very serious problems. Exercise/yoga offers great relief as do seretonin based antidepressants. Talk to your doctor. This might help with your smoking as well. Cheer up..you’re doing great.

]]> By: dogatemyfinances http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290791 dogatemyfinances Sun, 30 Dec 2007 14:26:42 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290791 Good for you! You're looking forward and need to up the income. Hopefully that is more valuable to your family than a $350 mortgage in the long run. Good for you! You’re looking forward and need to up the income. Hopefully that is more valuable to your family than a $350 mortgage in the long run.

]]> By: JW Thornhill http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290774 JW Thornhill Sun, 30 Dec 2007 13:05:53 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290774 Debt is Slavery looks like a very interesting book. I'm going to check my library for it. Thanks Debt is Slavery looks like a very interesting book. I’m going to check my library for it.

Thanks

]]> By: dcsmith http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/comment-page-1/#comment-290757 dcsmith Sun, 30 Dec 2007 12:18:54 +0000 http://www.bloggingawaydebt.com/2007/12/preparing-for-a-financial-shake-up/#comment-290757 Hard to believe not too long ago you didn't have a penny in the bank and thought nothing of going out and swiping the plastic to buy more stuff, isn't it? Now a nice flatscreen TV's worth sitting in the bank seems like a dangerously low balance. I look back at my behavior and cannot believe some of the stuff I did without a second thought. Amazing to think how perceptions can change so much. I wonder what dopey things I'm doing now that futureme will look back on with disdain. Hard to believe not too long ago you didn’t have a penny in the bank and thought nothing of going out and swiping the plastic to buy more stuff, isn’t it?

Now a nice flatscreen TV’s worth sitting in the bank seems like a dangerously low balance.

I look back at my behavior and cannot believe some of the stuff I did without a second thought. Amazing to think how perceptions can change so much.

I wonder what dopey things I’m doing now that futureme will look back on with disdain.

]]>