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Posted: March 19th, 2006 at 6:00 pm
Hey, the new site looks great!
Posted: March 20th, 2006 at 10:44 am
If you call them and let them know your mistake (forgot…messed up the date) they should be willing to refund the charges and put your interest rate back (happens to the best of us on occasion…including me). Most companies will usually do this once a year or every six months
Posted: March 21st, 2006 at 5:22 pm
I had a similar experience with my mortgage payment. I was out of checks and needed to pay over the phone. I was told I had to do it by 4:00 pm on the 15th. My mail comes around 3:00pm. I recieved my new checks and called the mortgage company. They told me it was too late and that I was supposed to call by 4:00 pm. It was never clarified that it needed to be eastern time. I live in Utah. I was so frustrated! Even though it was partially my fault. I called and spoke with the manager and he removed the additional charge. Well worth putting up a fuss!
Posted: March 29th, 2006 at 8:36 am
Congratulations on the big payment Tricia. Doesn’t it feel good to see that balance take a steep dive toward ZERO? I love it!
Posted: March 31st, 2006 at 7:44 pm
Congrats!!!
Posted: March 31st, 2006 at 7:45 pm
Congrats!!! Keep up the good work!!!
Posted: April 1st, 2006 at 7:35 pm
Thank you both for your kind comments. It does feel good to see a large payment going towards my debt. I just wish I could do that all the time – LOL
Posted: April 1st, 2006 at 9:55 pm
Boy does that number look familiar!
Posted: April 1st, 2006 at 11:45 pm
I am a financial trainwreck aren’t I? LOL.
But, I must say one thing – I think blogging about it is sure helping me keep on the track
Posted: April 2nd, 2006 at 1:24 am
Sounds a little fishy to me. Glad you didn’t pay the bill over the phone. As I rule, I never give out any personal information over the phone. I always tell them to send it to me in writing. End of story. Sorry you got bothered on your weekend nonetheless. Keep your head up!!!
Posted: April 2nd, 2006 at 1:25 am
You got that right. So long as that balance continues to go down…you are definitely on the right track!!!
Posted: April 2nd, 2006 at 10:58 am
The caller did have the correct amount of the bill that was only 7 days late, so it did sound legit. But, like you, I never give information like that out over the phone. They can threaten to turn my phone off, but I don’t budge. I’m stubborn that way LOL.
Thanks for stopping by
Posted: April 2nd, 2006 at 12:52 pm
That’s funny. Thanks for the link to my page.
Best of luck with your finances, it will be interesting to watch you progress.
Posted: April 2nd, 2006 at 3:21 pm
Thank you so much for stopping by! The words of support mean so much and are keeping me going and keeping me focused
Posted: April 2nd, 2006 at 6:35 pm
Haha, thanks for taking the test. Hope you enjoyed it.
Posted: April 3rd, 2006 at 10:09 am
We keep close track of all our finance charges: credit cards ($47), car loan ($99), student loans ($766), and home loans ($2398). It keeps us motivated to move more quickly in getting them paid down. Afterall, we have better things to do with that $3310 each month.
Posted: April 3rd, 2006 at 11:57 am
Excellent idea Tricia – I really like this one.
Even though we’ve got a reasonably large balance on our credit cards, it doesn’t end up with large finance charges because they’re all locked in on low-interest-for-life-of-the-debt balance transfers (and we’ve stopped using them entirely). The one that’s now bugging me is the interest on the mortgage. Being a new home owner, that mortgage payment is almost entirely interest. And every month, they’re telling me exactly how much is going to their bottom line instead of ours… :/ If the credit card companies did something similar, I’d bet people would be a lot more motivated to get that credit habit monkey off their back.
Posted: April 3rd, 2006 at 12:03 pm
You’re welcome!
Posted: April 3rd, 2006 at 12:15 pm
It has taken some time to rebuild my credit after years of debt and sporadic payments. I hear where you are coming from. I guess I can also understand the employer’s perspective, however. Hiring a new employee is very costly, and even more if it doesn’t work out. The theory is that someone who takes care of their business in their personal lives are more responsible, thus more likely to take care of business on the job.
Posted: April 3rd, 2006 at 12:18 pm
Great idea to keep close track of this. I would also include any fees incurred, such as late fees or over the limit. This would all be bundled in an expense category that I would call, “cost of debt.” Ouch. $417. Well, at least you are aware of it and doing something about it. Can I ask why it is going up?
Posted: April 3rd, 2006 at 5:43 pm
It happens more often than you think. I know someone who had to basically justify each and every single thing on their credit report and obtain letters for their defaulted student loans just to get a job. I haven’t heard of every industry doing this but definitely in the finance industry.
Posted: April 3rd, 2006 at 5:45 pm
Great idea. Seeing the number will give you more incentive to pay the debt off. I don’t worry so much about the interest on my home because of the deductibility factor.
Posted: April 3rd, 2006 at 5:46 pm
LOL. Kids are so real…Too funny. =)
Posted: April 3rd, 2006 at 6:52 pm
I can understand where the employers are coming from too, and pulling a credit report probably does help them weed out “bad” employees – but I think it prevents them from hiring some great employees as well. There are so many circumstances that go into what happens on a credit report.
Which reminds me, I have to go through and explain how I obtained all of my credit card debt
Posted: April 3rd, 2006 at 6:58 pm
I would have to say my speeding ticket is the worst decision I made. Initially I didn’t think it was a “financial decisions” but it definitely became one……here’s the rest of my bad decisions although there probably are more…
Posted: April 3rd, 2006 at 7:52 pm
On the same lines, when I (Mr. Medicated) finished school and took my job, I needed to relocate to a new city. In a matter of 6 weeks, I ran up about $10,000 in CC debt. Granted it was because I was broke and waiting for that first paycheck, but still, $10K. Don’t really remember exactly where it all went, but I definitely remember how long it is taking me to pay it off.
Great post! Look forward to reading more from your site!
Posted: April 3rd, 2006 at 10:46 pm
john omm – Wow! Those are some serious finance charges! They are more than my family makes in a month. I keep track of my other charges, but not monthly. Usually quarterly I check on them. Now, for my auto loan I check more frequently because in 5 months it will be paid off. I love watching it dwindle
sean – I had to look for a few minutes on my one credit card statement to find where they listed the finance charge rate. They really should put it more up-front-and-center, but they don’t want you to notice
lamoneyguy – great question about why it is increasing. I currently have a project going on that and I hope to have a post about it within the next few weeks
chitown – unfortunately, I don’t pay enough in interest or have enough deductions to itemize. So I am just paying with no “benefits”. One good thing is that my home was only $35,500 and my monthly payment is $337.00. So, I’m not taking too bad of a hit compared to others.
Thanks everyone for your comments and your support!! I knew blogging about this would help keep me focused and more determined
Posted: April 4th, 2006 at 8:15 pm
Glad to hear that wasn’t a scam.
Posted: April 4th, 2006 at 8:15 pm
Sorry to hear about your friend. You did a wonderful thing…a great way to honor your friend. =)
Posted: April 5th, 2006 at 1:47 pm
Wow…thanks. I definitely need to download this for my personal computer. I have it on the work computer and never knew what it was for. =)
Posted: April 6th, 2006 at 10:45 am
I got the samme thing but no last name. When I replied and asked him what my last name was, the person replied that it didn’t matter and we could still do the deal. I finally told him that I forwarded all our correspondce to FBI and British Home office (since he had a british email address).
Never heard back from him/her.
Posted: April 6th, 2006 at 6:32 pm
Ah…it is funny what they will try, but also sad that some people become victims. They are getting more convincing it seems with every new “variation.”
Thanks for stopping by
Posted: April 6th, 2006 at 6:38 pm
Your welcome
Posted: April 6th, 2006 at 8:21 pm
I’m the guy the tobacco companies love: I find cute girls who smoke incredibly sexy. Damn the media that have convinced me of this.
Posted: April 7th, 2006 at 6:15 am
Hey There…That’s pretty awesome…I wanted to quit since about a year after I started…
Write down a list of all the reason you want to quit, even the morbid, scary thoughts like dying of lung cancer, breathing through a tube, and leaving ur family and friends…then look at that list, and when ur ready, try to quit! That’s probably the most important thing…being ready and having the mindset of trying…Plus you got a blog…it’s a great tool…
Posted: April 7th, 2006 at 8:49 am
It’s not only the immediate cost, but the costs of problems that will develop down the road. I lost my dad about 4 years ago to smoking, he had COPD. That is what probably scares me the most. Your lungs just stop working and you cannot catch your breath. Smoking causes chronic diseases that last the rest of you life. It’s not like a broken arm that heals in time.
Find a reason and stay focused on it. Myself, my Missus, and Freedumb have all done it. Me and the Missus quit about a month and a half ago. I did use the patch and it helped me immensely. Trust me when I say, if I can quit, anyone can quit. I was a two pack a day smoker, and it was firmly entrenched in my lifestyle. In fact the lifestyle change was harder for me than physically quitting. But I seriously do feel better already. The first couple of weeks are kind of rough, but once you get through that it gets a whole lot easier. It may take multiple attempts but you have nothing to lose and everything to gain. Give it go!
Best
Trainwreck
Posted: April 9th, 2006 at 11:01 pm
Keep up the good work in striving towards your goals!
We definitely like the new look as well!
Posted: April 11th, 2006 at 12:30 pm
Wow…that is going to make a great dent in your debt balance. You are doing wonderful. Keep it up and financial freedom is just around the corner. =)
Posted: April 11th, 2006 at 2:49 pm
Thanks so much!!
Posted: April 12th, 2006 at 3:13 am
Love the new look! You’re right, the last one made me feel a little depressed also, but I understood what the picture represented.
–CollegeGRad
Posted: April 12th, 2006 at 4:23 pm
Great post! The reality is that we have all stumbled along the way but the true measure is how we pick ourselves up and continue to try to do better. =)
Posted: April 13th, 2006 at 3:23 pm
Tough call. You may be able to call card company #4 and get them to waive the fee. Also, you could use the snowball method. With your refund and overpayment, pay off #4 and apply the freed up cash flow towards agressively paying off #2. Good luck!!!
Posted: April 13th, 2006 at 3:26 pm
Hi. Not sure if you know this already but check out daveramsey.com
He can help.
Posted: April 13th, 2006 at 3:32 pm
It’s kind of like exercise. I’ve heard many people say, “I need to get a membership to a club and get in shape”. Well, how about just making the decision, put together a plan and find all the ways you can exercise without a gym membership. Once you’ve shown your commitment to exercise and made some progress, then maybe you should join a club for the additional exercise opportunities. It’s really more about the mental game, than it is about having the right tools.
Hazzard
Posted: April 13th, 2006 at 4:24 pm
I am doing what Dave Ramsey suggests. List your debts from smallest to largest and pay in that order, no matter what the interest rates are. I got rid of 3 accts and almost done with #4, then I only have 2 more go go! Keep up the great work!
Posted: April 14th, 2006 at 11:11 am
It’s great that you’re so positive — keep it up! Especially for families trying to get out of debt, while living paycheck to paycheck, blogging breaks down barriers so people aren’t afraid to seek out advice. During hard times, it helps to know others are in the same boat and struggling too.
Posted: April 14th, 2006 at 5:25 pm
I am glad that I found your blog and that you are trying to make your family’s situation better. No, it is not easy to put it all out there but if it helps us and others, then it’s worth it. We will be right here encouraging you all the way!!!
Posted: April 14th, 2006 at 6:29 pm
i would pay off credit card #4 if i were you. that is one less payment you have to make and you’ll have a greater feeling of satisfaction. once it is paid off you can call the credit card company and see if they can make you a better deal than what they sent you in the mail. from my experience, they should be pretty cooperative.
Posted: April 14th, 2006 at 6:53 pm
Thanks to you both! Readers like you making me want to succeed
Posted: April 14th, 2006 at 6:58 pm
Thank you all for your comments. Right now I am leaning towards paying off #4, and your comments are helping me feel better about going that route. But the decisions, the decisions! It’s enough to drive ya crazy!
I’ll of course let everyone know what I decide to do.
Posted: April 14th, 2006 at 7:00 pm
Thanks for the words of encouragement and the suggestion
Posted: April 15th, 2006 at 7:29 am
Thanks for participating the Wahm bloggers network Why we Blog . Check
out fellow Wahm bloggers reasons for blogging at
Wahms Reveal Why we Blog
Posted: April 15th, 2006 at 11:52 am
Great quote!!! This not only applies to my determination to become financially free but also applies to my determination to finish law school. Thank for sharing. I am going to put this on my fridge!!!
Posted: April 15th, 2006 at 11:23 pm
I am so suffering from this little “disease.” I will often get a Barnes and Noble gc from one of my relatives for a gift at Christmas. Now, I have about 100 books on my Amazon wish list, and if you let me wander in a used book store, I could find 100 bucks worth of stuff without breaking a sweat. But put that gc in my hand, and I have no idea what to do!
Posted: April 16th, 2006 at 11:48 am
I have a piggy bank (literally…LOL) and use a combination of cash and cards. It suits my busy life. As a female, I put everything in my wallet, including change, so I don’t lose it. At the end of the day, I put all change in my piggy bank. Last year, I had enough change in there to pay for more than 1/2 my Christmas presents. With my current debt paying schedule, I don’t have $20 here and there to put away for Christmas so it was nice to count that up, take it to the bank and get some Christmas gifts “guilt free.”
Posted: April 16th, 2006 at 11:50 am
Mom and Granny are cooking over at my parent’s house and we are having a big feast of yes, turkey and ham…yummo. Best thing about it…it’s free!!! Your day sounds fun and fulfilling too. Enjoy!!! =)
Posted: April 17th, 2006 at 8:05 am
I have done the ‘paid late by one day’ thing and it’s certainly no fun. Using online billing/accounts seems to really make it much easier to keep track of finances and whatnot.
Posted: April 17th, 2006 at 8:17 am
I agree with you. While it is important to be prepared for emergencies, the thousand dollars cash most likely isn’t going to expand as quickly as the thousand dollars of debt. It would be really hard to find an investment with a 16.9% return that you would be able to get out of. I don’t quite see the logic behind keeping the cash, when essentially your credit card could be the emergency fund. Then you don’t pay interest UNTIL it happens.
Posted: April 17th, 2006 at 11:16 am
I have had the same questions/debates in my mind about “if I have $1000 sitting around at 3% interest, why don’t I put it against a credit card charging 16.9% interest”. I think the difference comes down to mathematics versus behavior.
Mathematically speaking, putting the $1000 toward the credit card is probably better in the long run. And using your credit card to fund those emergencies (like when there is too much month at the end of the money) works…but it does grow your debt.
I think the issue is really behavioral, and I am now a huge believer in having the $1000 emergency fund before paying off the debt. I think the biggest thing to break our credit card addiction is to just stop using them. Even for “emergencies” (unless they are real dire emergencies). We dipped into our $1000 fund this month because we ran short. It just feels different, but you KNOW you aren’t jacking up your card more. You feel like “hey, sucks we ran out of money, but we have money to cover it and don’t need to go into debt”. Then, when you have the money, you rebuild your account. It simply breaks the cycle of going to the credit cards to deal with this kind of stuff. I now *despise* putting stuff on credit cards. It’s all about breaking the cycle that got us into debt in the first place.
Posted: April 17th, 2006 at 11:50 am
It’s not about the figures outing up. Of course paying off 16.9% debt is better than earning 4% interest. What it is about is breaking the cycle of relying on your credit cards to pay for things. Like you said, everyone has to decide on what is best for their situation, but the proponents of saving a baby emergency fund suggest it so that you stop using the cards. The theory is that you will never get out of debt if you keep relying on your credit cards.
Posted: April 17th, 2006 at 12:01 pm
I take it you recently stumbled upon Mr. Ramsey…
Of course you’re right – logically, that $1000 would be of more value going towards reducing your debts than waiting in an account for an emergency to happen. But then, if you were acting logically, you wouldn’t have $37k+ in credit card debts in the first place either. Using the credit cards as an emergency fund has worked wonders so far, hasn’t it? Been there, done that, didn’t even get the lousy t-shirt, so no judgment here, but you might want to give his ideas a chance. We had to dip into our little emergency fund last month for a car repair, and you’d really be amazed at the peace of mind that being able to write a check rather than sign another credit slip gives you.
That said, I don’t personally go for his ‘forget the interest rates – pay your lowest balances first’ approach. But I’m only dealing with 2 credit cards, whose debt I really consider a single value. I get more of a kick out of watching the total balance decline than in seeing the number of my debts shrink, so of course throw the majority of my money at the higher interest card.
So I guess I’m saying, of course you can pick and choose what you want from these ‘gurus’. I found the mini emergency fund extremely useful, if not to my bottom line, then at least to my peace of mind. If it delays my debt repayment a couple months in the end, well, it still was most definitely worth it to me.
Posted: April 17th, 2006 at 8:41 pm
I also agree with having the $1000 emergency fund and agree with Lisa where part of the debt repayment process is not to rely on debt for anything if possible. That way you re-train your financial thinking away from debt towards self-reliance. Also, you will probably feel a little more hurt/pain from having to use your emergency fund rather than the credit cards, which will make you think twice about whether it is a “real emergency.”
Posted: April 18th, 2006 at 12:59 am
Cool! Brownie says thanks!
Posted: April 18th, 2006 at 3:35 pm
And thank YOU for your submission and kind words.
Posted: April 18th, 2006 at 6:11 pm
I’m desperately trying to save up an emergency fund, despite a really serious debt situation. We’re well educated professionals who have suffered two really bad family illnesses that put my freelance career down the hopper as I spent time caregiving, and my spouse is on a disability leave. We literally live from hand to mouth and although we haven’t yet gone to a food bank, we’ve been very close. My cash flow is terribly irregular as a freelancer. Every time an emergency happens — and at this point, anything unexpected is an emergency — it puts us further back.
We can never ever recover if we can’t even out some of these fluctuations, hence the need for an emergency fund. A month after starting it, it’s only $100, but I refuse to touch it. I think it depends on how close you are to the line. We’re teetering on that line all the time and I hope an emergency fund will bring us over the line to where we can at least know we can buy food and pay the rent every month.
Posted: April 18th, 2006 at 10:40 pm
Your adorable doggie is welcome
Posted: April 18th, 2006 at 10:44 pm
Thank you everyone for commenting. I wanted to wait a few days to let everything sink in.
I have a few things to say about your comments – but it’s going to be a bit long. I will be writing a post replying to all of your sometime before the end of the weekend.
If you haven’t commented yet – please do. And thanks again to everyone who has. You have given me a great deal to think about – and I thank you
Posted: April 19th, 2006 at 9:41 am
Tough call. While there is a difference in the interest rate, the difference is not that much. We’re talking about less than 2% here. I think you will feel GREAT if you pay off #4 and just make it gone. It will feel FANTASTIC. You will do the “I Paid Off a Big Credit Card Dance!” Then take that money you would normally spend on your #4 payments and start piling it against #2.
But either way, whichever way you go, you will be $5600 (+ interest) closer to debt-free!
Good luck!
Posted: April 19th, 2006 at 9:57 am
Don’t think of it as one credit card over another. It’s one big debt load and it’s going to pay down your overall debt. Stop stressing about it and transfer the money!
Posted: April 19th, 2006 at 11:21 am
Just like Lisa said…there is very little difference between the interest rates on CR2 and CR4. By paying off CR4, you can then apply those payment to CR2 and work your way towards getting rid of it. Plus you have the short-term offer of transferring the balance (or part of it) of CR2 to CR4 for a lower interest rate. Even if it is only for a short time, you also get the benefit of CR2’s overall lower interest rate. I would try to get the fee waived though. One way or the other, it is dangerous having the cash sitting around. Good luck!!!
Posted: April 19th, 2006 at 6:12 pm
Thanks everyone for your words of support. The decision has been made and as that one boy band sings, I’m gonna be saying “Bye, bye, bye” to Credit Card #4.
It’s about time the relationship ended
Posted: April 19th, 2006 at 7:44 pm
Guess they made your decison a lot easier. Just shows how evil credit card companies can be.
Posted: April 19th, 2006 at 9:36 pm
So??? How does it feel? Did you do the happy dance?
Congratulations on making such a big payment to your debt!
Posted: April 19th, 2006 at 11:48 pm
Thanks! I just completed the transaction, and it feels VERY good. And, it’s going to get even better Monday – maybe even Friday if I’m lucky.
There’s a tax refund coming with Credit Card #4’s name on it
Posted: April 20th, 2006 at 9:49 am
Congrats in the payment. =)
Posted: April 22nd, 2006 at 1:30 pm
Christina
Posted: April 23rd, 2006 at 6:37 am
Tricia
I am a big believer in having an emergency fund. While we were paying off our credit card debt, we had a small emergency fund of about a few thousand. It actually saved us a few times so we didn’t need to pull out the credit cards. It is a behavioral issue for us. Now that all credit cards are paid off, we are working towards our larger emergency fund as well as paying off the car.
Theresa
Posted: April 23rd, 2006 at 9:14 am
I just discovered your blog today from a link on another financial blog. Your blog is so refreshing to me… We have 19,000 in credit card debt and 8,000 in parent student loan debt for our son. We also have an income close to yours of 42,000. It is so nice to hear about someone like us. So many of the personal financial blogs are about people with big incomes who are trying to amass retirement savings, etc. I like to read about someone closer to our own situation. We cut up our credit cards last summer and are trying to pay them off. I think you are doing awesome that you are able to make your payments every month and on time.
Posted: April 23rd, 2006 at 9:41 am
happyslob – LOL.
anonymous – Wow, thank you for your comment. You have given me a wonderful compliment, and I am so glad that you took the time to write. You made me feel like a million dollars
Best of luck to you and your family!
Posted: April 23rd, 2006 at 12:53 pm
You are so right! I started my blog to get and keep myself motivated and it has done wonders. Blogging daily forces me to focus on my finances daily, too.
Posted: April 24th, 2006 at 3:12 am
Great suggestions, and thanks for mentioning pfblogs.org!
Posted: April 24th, 2006 at 1:45 pm
Great post!!!
Posted: April 24th, 2006 at 3:08 pm
Wow, Sounds like you’ve got some things to think about. My husband was laid off in January and it has been a huge adjustment for us. He was making over six figures and he isn’t any more. We had to cut down on our bills too. I don’t know how we did it but we cut $400-450 dollars off our monthly payments. We just basically sat down and looked at the things that we didn’t need. The first thing to go was all the premium movie channels and what not. Then we got a family plan on our cell phones instead of having 2 differnt bills. Of course we got a huge chunk of change back from taxes and we paid off all but one credit card. And of course we didn’t buy anything and we stayed home a lot. Maybe this will help you some.
Posted: April 24th, 2006 at 4:01 pm
Posted: April 24th, 2006 at 4:17 pm
Ashley – The biggest monthly payment I can cut out right now is paying off our car with part of our tax refund. That’d be around $250/month. It’s so hard to do that though because it will be paid off in September of this year and we have basically paid all the interest on that loan already. I’m sure I’ll figure it out – I just wasn’t expecting it so soon. I have to get cracking
John – Well, if I say – it will probably give me away. For now, I like some anonymity
But, I will say that about $10,000 of the credit card debt was from purchasing things last year that he needed to make his business a reality.
Thank you both for taking the time to comment
Posted: April 24th, 2006 at 7:45 pm
What a great system! I love Quicken too so I’m doubly interested.
Posted: April 24th, 2006 at 8:13 pm
My partner quit his job in january to concentrate on his Freelance design business. It was certainly somewhat scary for me, but allowing him to concentrate full time on developing his client list has been extreemely beneficial for his business. While he hasn’t yet replaced his “regular employment” income, he is well on his way. Have faith. After all, I have always heard you will never get rich working for someone else.
Best of luck to your husband and you
Posted: April 25th, 2006 at 9:56 am
Funny. I guess each gender has a hard time throwing things away. =)
Posted: April 25th, 2006 at 9:59 am
We are pulling for you. I am sure everything will work out just fine. =)
Posted: April 25th, 2006 at 3:57 pm
Whooooo-hoooooo!!! Commence Happy Dance!!!! I am so happy for you!
Posted: April 25th, 2006 at 4:03 pm
Wonderful job!!! Keep up the good work!!! =)
Posted: April 25th, 2006 at 4:11 pm
Congratulations! Way to go! Keep it up!
Posted: April 26th, 2006 at 2:14 am
buh-bye Card #4…and good riddance!
Posted: April 26th, 2006 at 7:19 pm
I can relate with you 100%. My hubby has a 1969 oldsmobile 442 sitting in the garage. we pulled it out of a feild 3 years ago. Let’s just say it should ahve stayed in the feild. Last year we spent $10,000 on this thing and to look at it you can’t even tell. This car is in such bad shape it’s not funny. I begged and pleded with my hubby not to buy this car. we were not married at the time so my thoughts didn’t really mater. If it were up to me I would push it out of the garage and put a for sale sign on it. hehehehe
Posted: April 26th, 2006 at 7:20 pm
Congrats!!! that’s always a great feeling. we have one credit card we are tring to pay off. And I feel like it’s never gonna happen.
Posted: April 26th, 2006 at 8:49 pm
Hey! Great job! I just found your blog. I’d love to have you check out the No Credit Needed Network over at ncnnetwork.com and think about becoming a member. We’d love to have you, and we’d love to help others get to know your site. (My contact info is at the site, if you have any questions…)
Keep it up, and I can’t wait to see you debt free!
NCN
ncnpodcast.com
ncnblog.com
Posted: April 27th, 2006 at 2:11 am
Great job! Keep up the good work!
One dragon slain!
Posted: April 27th, 2006 at 7:36 am
Thanks everyone!! It feels so good to see the big “zero” when I look at the current balance.
Next big milestone – getting credit card #2 under $20,000!
Oh, nsnblog – I have checked out your site and almost signed up. I’m just missing one thing – a goal date. I’m hoping to set a realistic goal date in the next few days and I’ll be in touch with you
Posted: April 27th, 2006 at 7:39 am
Thanks! I’m glad you liked the tip. There will be more coming
Posted: April 27th, 2006 at 5:06 pm
Those are some really good ideas, and original. I am used to always hearing the same old tips. You should try this website. http://www.groceryguide.com/ You can cut your grocery bill in half. That should help with the debt.
Posted: April 27th, 2006 at 5:09 pm
WOW!! That’s a long time. I’ve heard that before. I try to send $10 every week to the credit card company after I’ve made the monthly payment. I always send more then the monthly payment. I’m gonna get this darn thing paid off if it kills me.
Posted: April 28th, 2006 at 12:23 am
I think I will head over to Dinkytown and input the numbers tomorrow for my student loans. Then I am going to post the time it will take to pay those suckers off on my fridge. =)
Posted: April 28th, 2006 at 11:14 am
I found it helpful to have a target goal. I ran all the numbers through excel to compute the interest and made a wall chart showing how much i need to pay each month to meet the goal. the chart is posted on the wall so each month i get to put a big fat X through it, that way I have something to look forward to each month as well.
Also have you checked out the No Credit Needed Network? NCN keeps track of all the members progress and makes pie charts for all of us. He’s good at motivating as well. http://ncnnetwork.blogspot.com/
Posted: April 28th, 2006 at 7:41 pm
Sorry to hear about your car troubles. I am very lucky to have married a gear head. My hubby knows everything there is to know about almost every car. He is actaully a manager of Kauffman Tire. They sell tires do services to your car and what not.
I don’t know what to tell you about your check engine light. It could be somethigng simple like a wire or soemthing needs to be change or it could be something serious. I don’t know if I would take it to a dealership. They will charge you more than a regular mechanic would. Maybe you could ask for another mechanic to look at it. Two heads are better then one. Although I will say this sometimes taking it to the dealer is the best thing b/c they should know those cars inside and out. Something happened to my Corvette a few months ago. we didn’t take any chances and we took it up to the dealer. Thankfully it wasn’t anything bad. I just ran over something and it knock the tranmission out of gear and it scared the crap out of me. But we walked out of there paying $365.
Posted: April 28th, 2006 at 8:52 pm
Good for you! I think the goals will be very helpful as well. In fact, I am going to post my own goals sometime this weekend on my site. I think it is a great mechanism to help hold ourselves accountable, since it would be totally un-fun to report to the world that we decided to splurge and fell away from our goals because of it.
Posted: April 29th, 2006 at 12:19 pm
Congrats! Setting a goal is the first step towards making it happen.
That amount seems like a large % of your income but if you can do it that is awesome.
Posted: April 29th, 2006 at 4:47 pm
Aw shucks, you said…
“There’s the AOL Money and Finance Editor’s Blog, where my blog is listed in the article Time to Act on ‘Save vs. Debt’. I’m featured with other great personal finance bloggers and I am honored.”
Now you’re making me blush…
Posted: April 29th, 2006 at 7:13 pm
Congrats on getting into AOL and getting published on EZine. Keep up the great work.
Posted: April 29th, 2006 at 8:17 pm
Thanks for the compliment and thanks for the website to check out. I will have to take a peek
Posted: April 30th, 2006 at 1:02 pm
Thanks! I appreciate it
Posted: April 30th, 2006 at 1:06 pm
I’ve been taken for a loop by a dealer before. Just to get an oil change, recall work and to look at a noise (not fixing, just looking) cost me $356.00. I was quite upset and vowed never to go back there.
I sometimes wish my hubby was a grease monkey, but he’s not. I’ve tried to learn some, but lack the time to really learn.
I’m still thinking about what to do, but I think I will take it back to the mechanic I trust and give him a shot. I just don’t know where else to go and well, I like him alot.
Posted: April 30th, 2006 at 1:09 pm
Super attitudes! Let’s pick off these debts one by one
Posted: April 30th, 2006 at 1:09 pm
Super attitudes! Let’s pick off these debts one by one
Posted: April 30th, 2006 at 1:14 pm
It is a large percentage of our income, but it can be done. I also plan on selling a lot of things which should bring in a few more dollars.
The biggest thing is that we need to keep living as we were before our increase in income. Which, that is super hard to do once you have money and can have a few more things and “live a little richer” so to speak.
It will be a journey, to say the least.
Thanks everyone for your comments and words of support!!
Posted: April 30th, 2006 at 3:22 pm
Tricia these are some great idea to earn some extra money. Some of these thing people wouldn;t even think about.
Posted: April 30th, 2006 at 8:15 pm
Was there actually a sound that was made when it happened? Did you hit a magic number for taking your car in for servicing, like 10K miles or 60K miles? Sometimes that light comes on to remind you to go to the dealer, even when nothing is wrong.
Good luck. I hate going to any other mechanic than my dad and now that he’s retired, I neglect my car to my frequent chagrin.
Posted: May 1st, 2006 at 9:41 am
Thank you for the mention!
Posted: May 1st, 2006 at 9:53 am
We are all pulling for you. I know you can do and you will!!!
Posted: May 1st, 2006 at 6:22 pm
mapgirl makes a good point. Sometime if you need a mileage service that light will come on.
Posted: May 2nd, 2006 at 5:24 am
My car has around 63K on it, and I’d say it’s probably taken us the past six months to put 3K on it. So, it’s probably not due to that.
My husband was the one who talked to our mechanic and he had some ideas of what could be wrong – but my husband forgot almost all of the details. He did remember that there were three error codes and that’s about it.
Well, it’s going in Wednesday so I guess we’ll see what happens. I’m trying to keep thinking good thoughts
Posted: May 2nd, 2006 at 6:45 pm
Really nice posting! I mentioned it in my announcement to my readers that the Festival of Frugality #21 is now up: http://dontmesswithtaxes.typepad.com/dont_mess_with_taxes/2006/05/frugal_.html
Posted: May 2nd, 2006 at 10:05 pm
Great tips! I can relate — I have until October to get things paid for before the big day.
It took flipping through one and a half of those invitation books before we decided to create our own. So much money for something that’ll be thrown away.
As far as the music goes, we’re going to leverage borrowed PA equipment and a large, computerized, and legal playlist of our own. My parents could do it in 1978 with reel-to-reel tapes, and technology has come a long way since then!
Posted: May 3rd, 2006 at 8:49 am
Thanks for the link. That looks like it will be an interesting site. I’ll check it later. I’m off to work in 20 minutes.
Uhmmm…not to sound like a grammar snob but can I tell you my pet peeve of spelling errors? Pretty please? It’s ‘lose’ not ‘loose.’ When you lose weight your pants become loose. When I lose my debt I’m going to let loose and Par-Tay!!!
Thanks for listening!
Posted: May 3rd, 2006 at 9:06 am
Couples can also look to their local grocery store or Costco (or BJs) for cake. Many groceries do their baking right on the premises!
And renting space in a park is a great idea! I’ll have to remember that one in a few years when my daughter gets married. I hope she has a spring wedding, LOL!
Posted: May 3rd, 2006 at 9:24 am
No problem about the spelling – thanks for watching my back
My biggest pet peeve with grammar is the it’s/its and their/there/they’re. Now I will remember “When you lose weight your pants become loose” for lose/loose.
Thanks for stopping by!
Posted: May 3rd, 2006 at 10:42 am
Congrats on the improved net worth. Personally, I would rather owe a creditor than my family any day. I check out NCN network often and I’m glad you joined. I’m sure it will help out a lot. Cheers!!!
Posted: May 3rd, 2006 at 12:12 pm
Good job! Keep up the good work!
Posted: May 3rd, 2006 at 3:25 pm
Just wanted to say a quick hello, and welcome to the club! Your secret decoder ring is in the mail! :^)
Posted: May 3rd, 2006 at 9:05 pm
Just speculation, but you must have a Honda. My Acura/”Honda in an Evening Gown” has gotten me with this issue. I have never heard of such a thing until I purchased this car.
Anyway, whatever you drive, it is good to hear! Happy motoring.
Posted: May 3rd, 2006 at 10:56 pm
Actually, it’s a Toyota Echo. Similar, though, to Honda with their repuation for reliable cars.
I just thought of something else – thank goodness I have an honest mechanic!! I could have easily been taken for a loop by a dishonest one.
Posted: May 4th, 2006 at 2:19 am
The check engine light is next to useless. I’ve got one on my Saturn that seems to get triggered just about every time we have a very humid day. First and second time it happened it freaked me out and got it checked. Third and fourth time, it really annoyed me. Fifth through hundredth, eh, essentially ignored. It’s now a pointless feature, because if it does come on warning of an imminent problem, it’s not going to do any good because I ignore the thing anymore.
Posted: May 4th, 2006 at 12:36 pm
You are making good progress! Keep up the hard work and I bet you reach your goal by your target date!
Posted: May 4th, 2006 at 7:58 pm
Glad to hear the news about the loan. I am sure that made your day. Keep up the good work!
Posted: May 6th, 2006 at 5:15 pm
Titanium frames once came with a “lifetime guarantee” … look for your purchase receipt or a credit card receipt/bill for the purchase and go back to the place you bought them … a friend in Montana had his replaced … and picked them up a week later, brand new!
Posted: May 6th, 2006 at 7:05 pm
The Medicated’s ended up watching the same show last night as well. I truly felt horrible for the girl and her husband. Well, mostly for the husband who told her to walk with $150k. At the end, he looked like he wanted someone to wake him from this bad dream.
$330k sitting there for the taking, and her friends tell her to keep playing! The worst part was with 5 cases left, $300k offer on the table, and only 2 cases higher than the offer, her mother says ‘Think about the offer after opening just ONE MORE case? Think about it? Say NO DEAL!’
After the show, we had a discussion about what it takes most Americans to come up with $300k. For most, I would say it would take years! I agree with you on walking early, but not to walk with that much money because of greed is truly sad!
Posted: May 6th, 2006 at 8:21 pm
Hi Tricia,
I just wanted to wish you all the best in paying off your credit card debt. I was once in that boat and you just need to keep going, you’ll get there soon
Good on you.
Posted: May 6th, 2006 at 9:09 pm
Medicated – I agree that the husband looked very sad. One thing I guess we are missing when watching the show is the financial situation of contestants when they are there. Who knows? Maybe $150,000 is a drop in the bucket for that couple, whereas for a lot of us it is a lot of money.
Anonymous – Wow, thank you so much for your words of encouragement and congrats on your sucessful debt payoff!
Posted: May 6th, 2006 at 9:17 pm
After they broke, I did take them back to where I purchased them from. They said that nothing could be done (and I’m not as agressive as I probably should be – so I walked away).
I could try again, but those frames are about 6 years old (I believe) and I doubt I kept the records back then. Just in the past three years I have been good with keeping papers.
Thanks for the comment – I am going to add that the original posting so it may help others
Posted: May 6th, 2006 at 9:19 pm
Thanks you two for your words of support!
Posted: May 6th, 2006 at 9:25 pm
Sean – it’s funny because I have something engrained in my brain that the check engine light means that I can’t drive my car at all and need to get to a mechanic immediately (I think it states that in the owners manuals that I have read).
As a result – I dread that darn light. I remember the first time my mechanic just turned it off and said to drive normally (he figured it was a fluke occurance that tripped it). I was so scared – but everything turned out alright.
I guess it’s not as useful for major mechanical malfunction as the owners manual states?
Posted: May 6th, 2006 at 9:26 pm
*Blush* thanks!
Posted: May 6th, 2006 at 9:27 pm
Oooh – a secret decoder ring. I wonder what it looks like – LOL.
Thanks for the warm welcome
Posted: May 6th, 2006 at 9:29 pm
Thanks to you both for commenting with some additional tips – it’s great!
The park was just wonderful and the people there were great and very helpful. I think the workers were thrilled that a wedding was taking place there.
It was a brave decision because we were hoping for good weather but it turned out to be a beautiful day.
Posted: May 7th, 2006 at 4:11 pm
Wow, great post man! I feel the same way…but now that you’ve written this, I’m thinking even if they get a full ride and everything they need, with good parenting, they will realize the same way we did…so maybe either way, it’ll work out?
Posted: May 7th, 2006 at 4:12 pm
Whhoops, sorry I think I said “Good post man!” Please disregard the “man” part lol…
Posted: May 7th, 2006 at 10:16 pm
In San Francisco, the all you can eat buffets charge you $2 if you waste their food. She’s lucky all she got was thrown out and not charged the extra $2 per person in her family.
Posted: May 7th, 2006 at 10:19 pm
I hate buying new glasses. It’s such a scam that places don’t keep the templates to re-grind you new lenses when you need them. I am very attached to my current pair, but I can’t get new lenses ground for them. It seriously cheeses me off.
Posted: May 7th, 2006 at 10:53 pm
I have to agree. I dread anytime I have to purchase new frames. You get so used to a pair I find it hard to change unless you absolutely have to. Plus, you save so much with keeping your frames for a few more years (as long as they don’t break like mine, of course
Posted: May 7th, 2006 at 10:54 pm
Wow! I’ve never heard of an extra charge – but good for the restaurants that do that! I don’t like seeing things go to waste.
Posted: May 8th, 2006 at 12:07 am
Enjoyed the post. It does show that you can find inspiration in the most unlikely places if you simply look.
Posted: May 8th, 2006 at 1:34 am
Interesting post. The thought is that if your son pays for his college, he would be more likely to realize that he basically paying $X/per class and show up. Also, during my college years, I ran into a number of my more consciencous classmates who had to be [doctor/lawyer/indian chief] because their parents were paying the bill. For the record, my parents did not finance my education. I did a little partying, but found out quickly that the real show was watching the party-ers.
Posted: May 8th, 2006 at 9:19 am
That is an excellent point. It made think of something that will hopefully save me many headaches. I have devised a plan to save for my daughters’ educations. They will work for me, and I will pay them, and it will effectively be tax free money. It will go in a Roth IRA, and they can withdrawl it for education, and save the rest for retirement or a any contributions left for a down payment on a home.
Anyhow, I don’t want them to blow this money… and with the Roth IRA in their name… they can do whatever they want with the funds… bummer. What about establishing a trust! They can put the money in a Roth IRA that is owned by a trust for which they are the trustor and benefactor. I will be the trustee, and I will be able to determine if money comes out or stays in. Then, when they have finally graduated, I will hand it over. I wonder if this is possible. Time for me to head to law school to learn how, I guess.
Posted: May 8th, 2006 at 8:28 pm
I really think it depends on the person too though.
My parents paid for my education in full (it’s cheaper over here) and I lived at home (the done thing here too) but I didn’t feel the need to go mental. I attended classes, handed things in on time and appreciated it all. Maybe it was because I was doing a course I enjoyed.
Posted: May 9th, 2006 at 1:43 am
My wife triggered the check engine light in her old college car. It had a locking gas cap that, to save time, she didn’t fasten all the way. Oh, the discussions we had about the relative value of time saved versus the chance of OMG FIERY DEATH.
The light can also be a sign that you have a bad oxygen sensor, which could result in “bad burn” of your gas, which will mess up your engine at some point, and give you poor gas mileage from the start. So eeh, not always a bad thing to see it.
Posted: May 9th, 2006 at 9:21 am
Go for it! It’s amazing how you can find room in a budget when you need to. And if baby #2 means debt repayment takes a little longer, so be it. I absolutely adore my children and would certainly sacrifice (and have) paying off debt quickly to see their faces.
Posted: May 9th, 2006 at 1:14 pm
It’s amazing how expensive personal services are (like hair cuts, manicures, etc). I added a ton of money back into my cash flow by eliminating many of these types of things, and doing them myself or forgoing them all together.
Posted: May 9th, 2006 at 1:40 pm
Thanks for sharing! I was wondering what software you used. I don’t quite like the way Quicken defines expenses since certain types of finance charges make my cash flow come out strangely. I always look like I’m behind even when I’m keeping all my payments on schedule. It’s very odd.
Posted: May 9th, 2006 at 1:55 pm
I am an avid Quicken fan, but I tweak it to my liking
My background is in accounting, so I tend to think of my finances in business terms.
For my reports I actually export them to Excel so I can hide the gazillion subcategories I have for everything.
Posted: May 9th, 2006 at 2:44 pm
You are so right if you wait until you can afford a child you will be in your 50’s. That’s great if you are thinking about adding another memeber to the family. My hubby wants children right now. I’m not ready, we’ve only been married for 8 months and I’m still in my early 20’s. He just turned 30 so I think his clock is ticking. wink wink.
Posted: May 9th, 2006 at 3:44 pm
I’m a husband, and I read the whole post. For me, it’s computers(also board games, but since my wife plays those, it’s not as much of an annoyance).
I/we have a half-dozen dying or deceased computers in our dining room with our regular PCs. This is totally my fault. They’re an eyesore, and at least one is complete garbage.
I have actually given a couple away and thrown another one out in the last 6 months, but it’s been really tough to deal with them.
To a certain extent, they’re a symbol of the geek life I want to have – to be a guy who has fun fixing computers. Of course, every time I sit at my desk and NOT work at them, I get a little twinge of guilt because I have all this desk and floor space tied up in computer carcasses.
It’s hard for people, especially guys, to admit to themselves they’ll never do EVERYTHING they want.
Try asking your husband what he thinks the car is really worth, and see if he would consider selling it and directing the money straight into one of his other interests. Just straight across, a few hundred dollars selling the car goes right into his business or his current other obsession.
Don’t suggest that he put part of the money into paying off debt. Let him come up with that on his own… or not. Even if he doesn’t, he’ll no longer be carrying the guilt of not fixing it, and you won’t have a CLUNKER IN YOUR GARAGE!
Posted: May 9th, 2006 at 6:58 pm
Dining is probably the top thing on the list you can control. When I was a kid, I could count on a single hand how many times we went out to eat that year!
Posted: May 10th, 2006 at 10:56 am
Men like girly girls.
Posted: May 10th, 2006 at 11:00 am
Thanks for sharing with such detail! I think next month I’ll expand my expense reports into Quicken’s subcategories like you do.
Posted: May 10th, 2006 at 2:51 pm
Check with your job, or your husband’s job. A lot of times companies can get better rates on life insurance (car insurance, etc) due to their size. I got my life insurance through my job and pay for it through an automatic deduction from my paycheck. The money comes out before taxes and you won’t miss it, if you never get it. Life insurance is important, just as a safety net. Good luck with your search.
Posted: May 10th, 2006 at 3:41 pm
It does suck to think about but both things are very important. That being said, we have yet to do wills either. As for insurance, you really should get it. Dave Ramsey suggests http://www.zanderins.com for life insurance. That would be a good starting point to see what some going rates would be for both of you. It’s a really simple process too!
Posted: May 10th, 2006 at 4:23 pm
Hi Tricia,
You really have a good handle on your finance. The level of details is impressive.
I don’t mean to intrude your finances, but I did notice one thing: your finance charge is going up slowly. Using your credit card balance from NetWorthIQ, I think the finance charges are running at almost 16% APR. That’s is probably too high, I think.
Best luck.
frugal
Posted: May 11th, 2006 at 2:07 pm
Here’s a point of view from the other side. Both my parents had post-graduate degrees and instilled in me a deep appreciation for education and the expectation that I would attend college. But they didn’t set aside a cent for my college, nor did they discuss with me that college actually cost money so that I should look into financial aid or save money myself. I spent four years working close to full-time hours at sometimes crappy part-time jobs to pay for state school tuition, rent, and mac n’ cheese. I sold my blood/plasma at every opportunity, drove unsafe cars, and lived in dirty, unsafe neighborhoods to scrimp by. This lifestyle took its toll on my health, sanity, and grades. Even though I was paying for it all myself and knew I’d have to pay again if I dropped or failed a class, the sheer exhaustion meant that I too had 1.0 GPA semesters. At the time, I really was more likely to feel despair than appreciation for my education. I didn’t have time or money for a social life; I had to drop out of the honors program, but was eventually able to graduate.
I still place a high value on education. I have had a very successful career that I know is totally attributable to my education. But I don’t think I would have appreciated it any less if I’d had some financial support in college.
I’m not going to pay for everything, but we’ve set aside enough to cover in-state tuition at a public school for my kids. I won’t put them through what I went through.
Posted: May 11th, 2006 at 8:45 pm
It’s always impressive to see expenses broken down. Gives such a clear picture…so when ya gonna quit the smokes???
FF
Posted: May 11th, 2006 at 9:24 pm
g. – unfortunately, my husband works at a small mom & pop shop (but will be leaving soon) and I work for a smaller company as well. Both do not offer life insurance.
kim – thanks for the site. I’ll check it out.
Thanks to you both for your comments
Posted: May 11th, 2006 at 9:33 pm
andrew – yes, dining out is a big one. It could be eliminated completely, but treats are nice. Plus, it gets us out of the house for a little bit
flexo – I love subcategories but most of mine I did “hide” on my report so it could fit for a screenshot. For me, the categories let me zoom in easily on problem spots.
frugal – don’t worry, you aren’t intruding at all. I welcome the questions. My finance charges have increased recently (which reminds me I have to update my finance charge chart). One of my credit cards recently raised to almost 16% and the other big one is over 16% so your math is correct. I recently did do a balance transfer, so for May I should see the savings from completing it.
It is way too high and my one credit card was 7.9% at one point (without balance transfers). It just kept going up and up. I’ve called to try to get it lowered – but I couldn’t threat to take my business away because I would have been flat out telling a lie. Not many new credit cards have come along offering a high enough balance.
A big change in my FICO score is expected soon (I’ll know May 26) so I am hoping that will help and I can get a card or loan to complete a balance transfer.
Thanks everyone for commenting!
Posted: May 11th, 2006 at 9:42 pm
seattle – how true that is! I did for a while dye my hair but that all adds up. I decided to go through a very awkward phase and let my original hair color come back. When it did, I realized how pretty the color really was. And of course, I loved the savings
miserly – I’d add “some” in front of men.
Posted: May 11th, 2006 at 9:44 pm
I keep going back and forth on having another one. It is so frustrating to feel this way. I guess the biggest thing holding me back is health insurance but I will be looking into that shortly.
Thanks for the words of encouragement!
Posted: May 11th, 2006 at 9:56 pm
freedumb – I’m a man? LOL
baselle, dus10 d & mandy – a lot does depend on the person, but I see myself in my son in so many ways. From how determined and stubborn he can be to how reflective and loving. All I know is no matter how much money I may have to help with (which I am planning on helping – just not paying in full), I will always be there with supportive words and will trust in his decisions. My parents did that with me, and I think that made all the difference in my being able to turn things around and finish college.
anonymous – very good point about not having any help. I wouldn’t want to do that to my son so I hope I can get my finances together so I can help him when the time comes. My last semester was completely funded by myself (scholarship ran out) so I had some time of ramen..ramen..ramen. I couldn’t imagine going through my entire college years like you had to. Glad to hear that you succeeded and are doing well. It shows a great deal about your character and determination
Thanks everyone for your comments!
Posted: May 11th, 2006 at 9:58 pm
I’m glad you enjoyed it. I just find that the more sources of inspiration I can find the better. I then have a library I can fall back on when I’m feeling down
Posted: May 11th, 2006 at 11:07 pm
freedumb – yeah, yeah, yeah – I hear ya! I want to quit the smokes soon. I see you are doing well with your quitting and that great! Congrats to you
Posted: May 14th, 2006 at 4:09 pm
I’ve been enjoying your blog, and liked this one a lot, especially this:
I didn’t mention it in the other post, but I had NO CLUE what I wanted to do with my life when I was 18. I applied to three different colleges and for each one a different major (criminal justice, music and mechanical engineering – if that isn’t a smorgasboard of majors – tell me what is! – LOL).
I have some concern for “lost” teenagers like yourself and so I taught a class on Career Exploration to a group of homeschooled kids last year. It was pretty popular; 20 kids signed up which is HUGE for a homeschool class. Crosswalk.com picked up an article I wrote about the class again telling me that parents want to help direct their kids. There are a lot more personality surveys and resources to help kids narrow their search these days. But right now my 15yo daughter sounds like you were. Her choices are paino, pharmacy, accounting or preschool teacher. At least she has three years to decide and we’re being pretty deliberate about giving her experiences to try out different occupations.
Keep up the posts. They’re so interesting!
Posted: May 14th, 2006 at 6:56 pm
Interesting the juxtaposition of this post — about buying things that weren’t necessary and planning to sell them — and the one just before, about how to buy clearance items. Conflicted?
Posted: May 14th, 2006 at 8:27 pm
At the end of the clearance post, there is a warning about only buying things you really need. That is definitely a problem with my shopping in the past – I was blinded by the great deal. That’s how I ended up with things I didn’t need.
The garage sale is a way to redeem myself, yet I know that I will lose money in the end because I paid more for things at the time of purchase.
I am finding that the more I look deeper into my previous habits, I am finding ways to improve myself and in turn improve my family’s financial situation. I enjoy when others leave comments that make me think even more about everything.
Thanks for stopping by and commenting
Posted: May 14th, 2006 at 8:34 pm
Wow – that’s a great program that you are doing! I wish they had something like that at my high school 11 years ago. Rather, what we had were a multitude of tests (academic) and almost all of them said I was fitted for an engineering career.
I think I started believing that for a while, even though I knew deep down it wasn’t the career for me. But everyone was pushing me towards it. It would have been great if there was more attention given to interests versus aptitiude. Oddly enough, I ended up going to the college with the engineering degree. But I soon switched to a less technical field a few quarters later.
Glad you enjoy my blog! Thanks for stopping by and leaving a comment
Posted: May 15th, 2006 at 11:24 pm
I noticed on your “Where My Money Goes” page that part of your monthly expenses goes to smoking. Wouldn’t it make sense to quit and save that extra money if you are really trying to paydown your debt?
Matt
http://thefidelityreport.blogspot.com
Posted: May 15th, 2006 at 11:36 pm
Having just moved 2 weeks ago, I definitely know that I have been guilty of buying things I haven’t needed. Shoes, clothes, magazines, books, things etc.
I’ve made a deal that for this month, I will not buy any clothes or magazines or books at all. I am spending money on things for the new place such as pots and stuff, but nothing completely unnecessary such as clothes etc.
So far, half way through and going strong
Posted: May 16th, 2006 at 6:38 am
The Millionaire Next Door was great, but The Millionaire Mind by Thomas J. Stanley is even better!
Posted: May 16th, 2006 at 7:05 am
Mandy – that’s great to hear things are going so well for you! I see from your blog that you mention that you don’t really have room for all the things that you have bought. That’s definitely a problem that I have – especially with clothes. I have so many articles of clothing that I don’t use and it’s a shame.
Thanks for stopping by and the best to you with your “Operation Stop Buying Crap”
Posted: May 16th, 2006 at 7:15 am
I did get into the book about 60 pages yesterday and it does really make you think about things. I probably will try to get my hands on the Millioniare Mind book now that I know it’s out there. Thanks for mentioning it.
BTW – Congrats on graduating!
Posted: May 16th, 2006 at 2:29 pm
I had those feelings when I started reading PF books. It’s amazing how one book can really change your way of thinking! Mary Hunt’s “Debt-Proof Living” really helped us start getting on the right track. I hope that reading “The Millionaire Next Door” really helps you! It’s actually next on my list too. When you are finished, I would love to hear about what impacted you the most.
Posted: May 17th, 2006 at 12:55 pm
That certainly gets at the difference between the connation of millionaire, and the denotation. What you want is to have a $1 million dollars to your name. You don’t want to be a “millionaire”. It’s choosing to save versus spend. I think it’s great that the book has helped you look at that. Keep up the good work! I am also working on getting out of debt and, although it is a long and hard road, when you start seeing some progress it feels great!
Posted: May 17th, 2006 at 1:16 pm
Nice post. It’s true. Once you understand how millionaires think and make choices to spend their money or not, you’ll start taking the steps towards enriching your net worth.
Nice purple BTW, the color of renewal. It seems like May is the season for blog redesigns.
Posted: May 17th, 2006 at 5:02 pm
You are already thinking like a millionaire by realizing you need to keep your money rather than spend it. Kudos to you for what you are doing. When you get that debt paid off, you can start putting that monthly nut to investing in retirement. I’ve been where you are, and it is possible to get out of debt. Better yet, once you’re out, it is easy to stay out if you plan properly. I got into debt when I lost my business, I tell my story on my blog at http://debtandcredit2.blogspot.com and have been blogging about potential solutions, along with some ranting and raving about the traps set by banks and credit card companies. We’re in this together. Keep up the good work!
Posted: May 18th, 2006 at 12:08 am
Your header, at least on this post, points to photobucket.com This makes it awfully hard to get to your main page to take a look at the rest of the site. From what I can see, it looks great though.
Posted: May 18th, 2006 at 12:15 am
Thank you..thank you..thank you!!! I didn’t even think of having it link to the main site. I’ve fixed it now
Posted: May 18th, 2006 at 12:44 am
I started off with a template laid out in a similar manner (you can see a version of it at http://www.experiglot.com/es if you’d like), but I ended up switching to the more common sidebar-main-sidebar setup because I felt the body width didn’t give me enough room to write, and ads on sidebars are supposed to be better on the left (who knows if it’s really true though…might depend on the blog). Anyway, give it a whirl and see if you like it. It’s the only way you’ll find out! Good luck
Posted: May 18th, 2006 at 12:56 am
Looks slick. The green w/ the purple text is an interesting contrast.
Posted: May 18th, 2006 at 9:16 am
I like the green and purple a lot! It’s looking really good!
Posted: May 18th, 2006 at 10:50 am
$950 in minimum credit card payments? Eeek. No wonder you’re motivated!
Back in the day when my car and student loans weren’t paid off, I was shocked to find that it all totaled up to about $18K a year. There are some folks who live on that as their entire annual income. That was a shocker for me.
Good luck Tricia!
Posted: May 18th, 2006 at 4:00 pm
Recognizing when you’re about to enter into some retail therapy is the first step to stopping it.
Posted: May 18th, 2006 at 6:21 pm
Tricia-
I just stumbled on to your blog and wanted to write a note of encouragement.
I really applaud your honesty and bravery in taking your life to the streets (or the web)to help yourself and others.
As someone who just entered the world of blogging recently I also commend your dedication.
Let me know if there’s any way I can help you or any advice I can offer to improve your progress.
I’d also like to link your site off of mine if you don’t mind.
Be well,
Hunter
Posted: May 19th, 2006 at 10:16 am
Although excessive retail therapy can be harmful, I don’t think it’s altogether bad. Many of us that are trying to get out of debt are pinching a lot of pennies and cutting lots of corners. If I recall correctly, you took part of your tax return to buy those things? I don’t think that’s wrong at all. Sometimes we need to treat ourselves to some reasonlable purchases so that we don’t end up binging and making things worse. If those dishes and silverware (which were bought at reasonable prices) make you smile and feel a little better, but didn’t cause you to go into more debt, I don’t see anything wrong with it. We can’t totally change who we are and what we enjoy. IMO, the best we can do is try and make some concessions on both sides of the argument to come to a point where we are comfortable.
Posted: May 20th, 2006 at 5:15 pm
mapgirl – how true you are!!
hunter – thank you for the words of encouragement and for your offer for advise. I have a feeling I will be visiting your blog often – it’s looking great so far. Feel free to link to my blog if you like – I would be honored
kim – you bring up some great points. Those dishes were paid with cash and not credit so that was a step in the right direction. There is a happy medium that has to be reached with me when it comes to spending. I haven’t wrote about it yet, but my husband and I had a little argument today over how much I have been sending extra to credit cards and not leaving anything for “living life.”
Who would have thought just the emotional side of debt would be so rough?
Posted: May 20th, 2006 at 5:18 pm
Thanks mapgirl! I appreciate the words of encouragement
There is so much more that could be done with $950/month that I would love to do. And to erase all debt and have $1700+/month – wow. It really is a motivator to make it happen.
Posted: May 20th, 2006 at 5:25 pm
Thanks everyone for your comments. The purple has a meaning, and perhaps someday soon I will reveal why I like purple on my site. As for the green, well – we all know that has to do with money
Posted: May 20th, 2006 at 5:35 pm
Kim – you don’t happen to have a blog, do you? Cause I’d love to read it if you do! You always have some great things to say. Best of luck to you on your road to becoming debt-free
mapgirl – hehe, yes it is the time for blog redesigns – yours looks very nice as well
Jim – I truly believe that once I am out of debt, I will be able to stay out. A personal goal of mine is to one day be able to pay for a car without a loan and to even purchase a house without a mortgage. I know it can be done. It’s great to hear a success story like yours – you keep up the great work as well!
Posted: May 20th, 2006 at 5:38 pm
Thanks Kim for metioning that book – I will check it out once I get done reading though the stack I just received.
I will be posting my overall feelings about the book when finished – I’m a little over halfway through it now
Posted: May 21st, 2006 at 4:31 pm
Have you tried calling your lender and saying “This 16.49% you are charging me is ridiculous. I get 5-10 offers for lower rates every week. Lower my rate or else I will surf my balance to another card and you will never make any more money from me again.” What harm could it do?
Posted: May 21st, 2006 at 5:12 pm
One way to look at it – if there was something wrong with one of you, wouldn’t you want to know? You could think of the physical as a free health checkup!
I think in many cases, the physical may be tied to a certain dollar amount. Like, if you go over $250K in coverage, then it may require a physical. I know in a previous post, you were trying to decide how much coverage to get. The reason why so many places recommend 8-10 times your income is this. If one of you were to pass away, the money from the policy could be invested in a good mutual fund and generate enough growth to fully replace the income. Here’s an example – if you make $50K per year, and you have a term insurance policy (you are thinking “term” right?) for $500,000. If the policyholer passes away, the surviving spouse then invests that $500,000 someplace where they can get about a 10% return, the return will be about $50K per year (replacing the income) and you won’t have to touch the money.
Posted: May 21st, 2006 at 5:20 pm
You mentioned your family’s pop habit. We were long time 12pk of Coke or Pepsi folks. Where we live, the local grocery store occasionally gouges for $4.69 for a 12pk of Coke! Sheesh! And that doesn’t include the 5c deposit per can! So, recently we have been converting to “cheap pop”. We have been buying only 2-liter bottles of “cheap pop” (here, it’s Adirondack), unless we can get Coke/Pepsi for less than $3 per 12pk. We drink less of it (small glass at a time) and we don’t leave around 1/2 drank (drunk?) cans! And, generic cola really ain’t so bad!
Posted: May 21st, 2006 at 11:51 pm
I have tried calling them a few times. Quite a while ago (probably around 3 years ago) – that worked and my interest rate was lowered to 7.9%. But then it kept going up and up. I’ve called to inquire, and they just said it was because of interest rates going up in general. And now – they will not budge. I think they realize that my balance is too high and I no longer get offers for lower rates
I do plan on calling them again now that the balance has been reduced quite a bit in a short amount of time. Perhaps now they will budge
Posted: May 21st, 2006 at 11:55 pm
I see what you are saying with wanting to know if something is wrong. I just want to have health insurance in place before finding out. The health insurance that we probably will be getting once the debt is paid down more does have a pre-existing condition clause so I don’t want to uncover anything just yet.
Thanks for mentioning about investing the insurance money. I didn’t even think of it like that. I was mostly thinking of just being able to pay off the debt and starting with a clean slate. Maybe I will look into getting a little more to help replace the lost income.
Thanks for commenting
Posted: May 22nd, 2006 at 9:11 am
Good luck, Tricia! Rumor has it that threatening to surf your balance to another card works wonders. They don’t know that you don’t have another offer standing by.
And with a big interest rate like 16.49%, they don’t want to lose you as a customer. 
Report back! 
Posted: May 22nd, 2006 at 9:34 am
Keep plugging, Tricia. We’ve all been there. The setbacks are pretty much a fact of life.
Posted: May 22nd, 2006 at 10:56 am
Chin up! I had a set back this weekend that I’m not to proud of either. Wounds the pride, but sometimes putting on a happy face and perservering is the only way to make it through.
Posted: May 22nd, 2006 at 1:34 pm
Add me to the “has setbacks” list! I take solace in the fact that my overall debt level is still going down and not up. That must mean that I am still doing something right!
Posted: May 22nd, 2006 at 1:59 pm
Thank you everyone
Posted: May 22nd, 2006 at 11:40 pm
16.49 is definatly a rip off. No need to be shy.
Put all of your cash into paying off your CC and sell all of your junk on ebay/craigslist. After your utilization % drops you might have better luck getting a different card and rolling the balance over.
BTW, as far as I know prosper doesn’t verify income.
Posted: May 23rd, 2006 at 7:00 am
Hmm, I couldn’t get DH to give up his riding tractor at home, but this might be a good option for around our camper at the campground. . .
Posted: May 23rd, 2006 at 4:51 pm
Looks like you’re making a good progress on your credit card, keep it up! I simply hate to see anybody paying interest money to any loan sharks. Tax return or not, at least you should congratulate yourself for not taking the chance of spending those money away, right?
Posted: May 24th, 2006 at 9:09 am
Good luck on the career change for your husband! Entrepreneurship is the fastest way to high net worth in the US. I love a good Horatio Alger story.
It seems like you guys are being pretty smart and really understanding the point of view of the other. That’s great!
ps-I am still very in love with your blog facelift.
Posted: May 24th, 2006 at 9:15 am
The other thing is that it’s self mulching when you leave the clippings on your lawn. I never liked emptying the mower bag. Yuck.
Also non-point sources of emissions are hard to control and most NPS’s are gas motors which move around, ie cars, leaf/snowblowers, mowers, etc. So you’re saving the environment from greenhouse gasses too!
Posted: May 24th, 2006 at 9:31 am
I think that is a wonderful compromise. In the long run, I think it will help out a lot because you won’t feel deprived and you still get to live while maintaining your goals. Best wishes!
Posted: May 26th, 2006 at 12:03 am
glad to hear it!
Posted: May 26th, 2006 at 4:24 am
Actually Prosper does verify income…sort of. They ask for W2s and/or a pay stub. At least they did for me.
I think Prosper could help ya out. I’m thinking of doing the same thing for my credit card debt. I also want to get funding for some business ventures.
I wrote an article about it yesterday, I’ve also done an interview with Prosper. Come check ‘em out.
Posted: May 26th, 2006 at 8:30 am
And it is a lot cheaper. We just had to buy a lawn mower. We paid over $300 for it.
Posted: May 26th, 2006 at 2:01 pm
Keep us updated if you decide to try it out. I have been thinking of joining from the lending side. I figure it could make some decent returns and help some people out.
If I do decide to join I think I will just do a few hundred over many loans while I get a feel for it. The site and idea is kinda new so I’m sure alot of others, like me, are weary of putting alot of money in or loaning to people that appear they may default.
Posted: May 26th, 2006 at 2:37 pm
Great job!!! Persistance pays off. =)
Posted: May 26th, 2006 at 3:19 pm
Perhaps it’s because your debt repayment has improved your credit score, and now you qualify for their “preferred” or “platinum” interest rates.
Congratulations!
Posted: May 26th, 2006 at 3:34 pm
Yay!! Have you calculated the impact it will have on total interest and payoff period? Inquiring minds want to know!
Posted: May 26th, 2006 at 3:35 pm
Like you said, every little bit helps! Good for you for keeping at it!
Posted: May 26th, 2006 at 3:39 pm
Another suggestion – spend some time sitting down with your husband when it’s bill time. If you have a budget, share it with him. I recently did this with my husband, and we sit down and do the monthly budget together every month, and now he sees why I frequently say “no” to purchases (I am the family finance person as well). It was very enlightening to him.
Posted: May 26th, 2006 at 4:56 pm
Thanks!
Posted: May 26th, 2006 at 4:56 pm
You know what? In my amazement, it didn’t even sink in that the customer service rep said something about my “preferred” status. I bet my credit score increasing has helped.
I haven’t calculated the total impact on my payoff period but I hope to soon. I think I am going to see what I can do with some balance transfers
Thanks everyone for your kind words!!
Posted: May 26th, 2006 at 5:00 pm
Perhaps part of our problem is that I don’t really have a budget. I actually have a really weird method that I use and I’d like to share it with everyone but it is hard to explain. But it’s a method I developed that makes sure the bills are paid on time and whatever is left over is for everything else.
Of course, I have certain monthly goals in my head that I try to maintain, but I should probably put something down on paper so he can look at it too.
Thanks everyone for your comments!
Posted: May 26th, 2006 at 5:03 pm
Hmm…I just thought about it a little bit. We are an environmentally friendly family (emissions-wise). We drive a fuel-efficient car (Toyota Echo), we use a reel mower and we have an electric weed wacker.
It turns out that all of those decisions also save us money
Posted: May 26th, 2006 at 5:12 pm
I will keep everyone updated. I am still thinking about doing it as part of my balance transfer scheme. Basically, getting all of the money off of Credit Card #2 just to transfer it back on at a lower rate. Now when lenders read what I will be doing, would they still be interested in funding me for a month of interest?
I still need to investigate the charges I will incur with using Prosper and have to see if it is worth it to go for it. I’ll be keeping an eye on you Tim to see how it goes for you (hopefully well!).
Posted: May 26th, 2006 at 5:43 pm
Great news!
One closer step to paying off stuff!
Posted: May 27th, 2006 at 12:01 pm
Tricia,
I’m a lender on Prosper, and have been at it for a while. If you’d like to talk about it, or have questions, just email me.
Posted: May 28th, 2006 at 3:50 pm
Tricia,
When you get your credit cards paid off, you should have a party. I know that my fiancee and I are totally rooting for you!
-James
Posted: May 29th, 2006 at 9:20 pm
Since I work nights and this kind of lawn mower is quiet, it would be perfect to mow my lawn at 11 pm which is really my 11 am….diffenetly something to discuss in my own pf blog in the near future…. great article. thanks for sharing.
- Kevin (DebtFree4ever)
Posted: May 30th, 2006 at 10:55 am
You are doing wonderful and I am glad that you decided to have some fun along the way!!! It will be make the journey that much sweeter. =)
Posted: May 31st, 2006 at 11:35 am
I hope you and the little one feel better soon. =)
Posted: June 1st, 2006 at 11:54 am
Hmm, thats interesting. The when not to consolidate article says that you lose deferment on loans if you consolidate while an underclassmen. I’m going to have to look into this as I was under the impression that you didn’t, at least from what I’ve read about Federal Direct Stafford loans.
Posted: June 2nd, 2006 at 6:02 pm
Thanks for the linky! I’m glad your scores are rising!
Posted: June 3rd, 2006 at 8:05 am
Awesome post! I got out of debt, but I started my blog to force myself to maintain the discipline of investing.
Posted: June 4th, 2006 at 10:55 am
In exchange for my monthly premium for my Consumer Driven Health Care Plan (CDHP), my employer provides my partner and I $1,500 to spend as we choose on any health care expense. Once that $1,500 is gone, the next $1,500 is entirely mine to shoulder. After $3,000 is spent, insurance and I split the difference 25%/75%. Any funds that are left over from the original $1,500 are mine to roll-over to the next year.
This type of plan, I beleive, makes me a better health care shopper, and maes sure I know the cost/benefit of the care I am getting.
I think by asking questions as you did and taking the inexpensive generic, you not only saved yourself some cash, but better understand the illness you have.
On an aside, if you worry about having a catastrophic illness costing many thousands, Sams Club offers some high deductible plans for healthy young people starting around $25-30 per month. It may be worth considering. One serious problem could set back all the hard work you have accomploshed “blogging away debt”
Good luck.
Posted: June 4th, 2006 at 1:48 pm
Thank you for the info on the Sam’s Club program. As I was talking with the doctor, he told me there is a local program for low cost health insurance for families that I may qualify for. So I will be calling soon to inquire about that.
Thanks for stopping by
Posted: June 4th, 2006 at 1:49 pm
Thanks so much!!
Posted: June 5th, 2006 at 11:04 am
Congratulations!!! Keep up the good work and I hope you feel better soon. =)
Posted: June 5th, 2006 at 11:07 am
That’s great! Keep up the good work.
Posted: June 8th, 2006 at 4:49 am
Have you ever thought of at least starting a baby emergency fund? Maybe–or at least–$500? That could give you some breathing room.
I know. This isn’t easy.
Blog it away!
Posted: June 8th, 2006 at 11:50 pm
I have thought of a baby emergency fund, but I just can’t justify it in my mind right now. Perhaps once I can situate my credit card debt with very low interest rates I could be able to.
I can’t help it – I want the debt gone too bad
Thanks for stopping by!
Posted: June 9th, 2006 at 4:00 am
Good luck with this. Just make sure you stay current on this account, otherwise you might be facing an APR that’s higher than the one you already have.
Read the fine print. Please.
I’m pulling for you, but I wonder if it was smart to get a 7th cc.
Posted: June 9th, 2006 at 9:02 am
I’m glad you got it! Hopefully that will really help you make a difference!
p.s. I like the new layout.
Posted: June 9th, 2006 at 3:19 pm
I’m glad you were able to read it and get something out of it. I have recently gotten it out of the library and it’s slow going for me too. I just can’t seem to get in to it, but with so many people swearing by it, I am going to keep trying. That’s really nice of you to give away your copy!
Posted: June 9th, 2006 at 3:25 pm
What a totally neat idea! I love your idea of signing the book and sending it to someone who could use it. Then encourage them to carry on the tradition. Kind of like “Pay It Forward” (except that movie was too sad). It would be neat to monitor the travels of the book. Great idea!
Posted: June 9th, 2006 at 4:18 pm
I felt the same way about this book–that it was aimed at people who make more money than I do, or am ever likely to. I felt pretty discouraged for most of the time I was reading it, but I did manage to find some positive helpful stuff toward the end, mostly around how I will relate to my own son financially.
Here’s my reaction to the book, in case you’re curious:
Will I be the next millionaire next door?
Posted: June 9th, 2006 at 6:17 pm
Molly’s Brother – you are right. I have to be very careful with this account but I am always VERY careful to make sure I pay my accounts on time. The biggest problem that I have made in the past with getting a new card and using a balance transfer is then filling up the card that I just reduced the balance on. Seeing as though I am pretty focused on reducing debt, I don’t think that will happen again. I do not want to have to post an increase in debt for month end. I will sell as much stuff as I can before I want to post that. Thank you for caring – it means alot!!
Kim – with 0% for a year, it sure is a lot of savings on finance charges so I am VERY excited. But like Molly’s Brother commented, I just have to be very careful things don’t go bad.
Posted: June 9th, 2006 at 6:31 pm
Kim – with being sick, all I could do is lay on the couch and TV doesn’t always interest me. So the book came in handy to pass some time
Lisa – thanks for liking the idea. I just hope someone wants it and participates. I agree that “Pay It Forward” was really sad. But the message from that movie really touches you. I would love to see this book go from home to home and hopefully affecting people in a good way, so we’ll see what happens.
Claire – I just read your reaction to the book. I understand how you feel with being discouraged, but I try to turn that discouragement around on itself. I ended up looking for the commonalities I find between myself and millionaires (according to the book). Now, can I become a millionaire with the income I am making now? Probably not in my lifetime. But if I have the mentality of becoming one, that is one step completed. The next step is to make more income and I’m already working on that with increasing my knowledge in my current profession and working on moving up within the company I work for. It will take me longer than most to become a millionaire, but I believe I will get there.
Thanks everyone for commenting!
Posted: June 9th, 2006 at 7:03 pm
Well I don’t know what the details are, but according to what I see on the blog you’ve paid down your credit cards about $2,000 per month, plus about $400/month in finance charges.
If you were able to save that much going forward, you would be a millionaire in about 20 years. Less if you used a tax-deferred account. Sounds like a long time, but it’s not forever. No problemo.
CNN Money Calculator
Posted: June 10th, 2006 at 10:26 am
I think you are making a good decision. I also believe your add on prosper will get you the money you need.
One thing I would change is where you say you are “against” paying down your debt. Sorry don’t have the exact wording. I think you are “for” paying down your debt. Maybe I am reading it wrong.
Good luck to you!!
Posted: June 10th, 2006 at 4:55 pm
D – Thanks for the head’s up on my listing. I didn’t mean that I was “against” paying down my debt. I hope everyone will still understand what I meant
Posted: June 10th, 2006 at 7:57 pm
I have not heard of prosper before….but if you can get the loan to pay it off at a cheaper interest rate. They don’t need to know the credit card was canceled as soon as you got the check from prosper. Leave it and start making “lower interest” payments to prosper.
I would like to know more about prosper, and maybe I can get a much lower interest rate then the 13% I currently have on my car. It sure would be less of a stress to get it paid off…I still want to pay it off within the next 2 years rather then 6.
- Kevin
the Prince of Thrift
debtfree4ever.net
Posted: June 11th, 2006 at 12:27 am
For what it is worth, I threw my $50 into the hat…
Good luck with the listing. Hope it funds.
Posted: June 11th, 2006 at 12:45 am
I posted a link to your loan and blog on my site.
Also, I sent a note to a group of lenders I trade info with recommending your loan. Hopefully that will get you funded faster. My guess is that you’ll end up somewhere below 12%.
Posted: June 11th, 2006 at 12:59 am
Personal Finance Blogger – thanks for the bid and the words of support. I would love to see the loan funded for under 12% and it will be real interesting to see if that happens. But, even if it funds at 12% I’ll be pretty happy. That means regular people will be getting the interest instead of the credit card company
Posted: June 12th, 2006 at 2:00 am
Great resource!
Posted: June 12th, 2006 at 3:18 am
Thanks for the links. This has been such an education for me, too.
Posted: June 12th, 2006 at 7:34 pm
I’m glad you’ve found the links helpful. I will post more as I find them
Posted: June 13th, 2006 at 8:34 am
I wouldn’t take it personally…the small bids. Prosper does recommend to the lenders to diversify their bids. I placed my bid on your loan this morning and I am sure you will be covered before your time is up.
Your my only A, but I am just starting. I love this concept, it is about time we take some of the profits from the banks.
Posted: June 13th, 2006 at 11:22 am
Thanks for posting that. I followed over there and left a comment.
Posted: June 13th, 2006 at 12:34 pm
Thanks for linking to my post. I got the article link in the first place from “The Secret Society of Happy People” and am a big fan of happiness.
I’m also glad you linked because I got to discover your blog that way. I’ve enjoyed reading your recent posts, and I just started the process of becoming a Prosper lender. If the bank stuff goes through in time, I’ll fund some of your loan and document the process from the other side (I think it would be very interesting to have bloggers on both sides!).
Posted: June 13th, 2006 at 10:51 pm
I’m with you on this Debt-to-Income ration. I signed up as a lender initially, but wanted to see what my ratio was, so I went as far as needed to see my ratio and it is 6%. I cannot figure out how they got 6%. I can leave out everything, but credit card and auto loans, and still only get as low as 14%. Anyway, good luck with the loan!
Posted: June 13th, 2006 at 11:59 pm
mapgirl – your welcome. I’m always glad to share some good posts
Sarah – thanks for the link. I will have to check it out because I like being happy too! Glad you found my blog and thanks for thinking of bidding on my loan. Even if you don’t make it in time, I appreciate the thought. The support my loan has received has been wonderful. There are a few lenders blogging about their experience. A few that come to mind are It’s Your Money, Dual Income No Kids and My Personal Finance Blog. Another blogger that was considering borrowing funds is My Money Forest.
I’ve added you to my blogroll to see how things go for you
Posted: June 14th, 2006 at 6:18 pm
I visited both of them sometime ago last month, and found out the same thing about them. Unfortunately, they’ve got plenty of companies. I guess the hardest thing about blogging is preseverance.
I guess the new display format at http://www.pfblogs.org makes some sense. The blogs that don’t get updated have the colors of their blog names whitened to the point of disappearing and unreadable. And often at the top, it’s the ones that updated most recently.
Posted: June 15th, 2006 at 3:03 am
You’re making some great progress! I bet you can’t wait to pay off the car! It’s great having a car free and clear. Which debt are you going to apply that car payment to after September?
Posted: June 15th, 2006 at 12:40 pm
Thanks Tricia! I think I’m pretty lucky to have friends that trust me and whom I trust too. It’s really less about the money than it is about the strength of your friendships.
Posted: June 15th, 2006 at 12:43 pm
I am awfully curious about this. I haven’t taken a look at your listing just yet, but I’ve been hesitant to dip into the water on Prosper either as a borrower or lender.
Posted: June 15th, 2006 at 2:17 pm
Agreed. The whole idea of prosper is that a lot of people bid a little bit on each loan. That way if someone defaults I am out only a small bit of money. By the same token if they pay I make a small profit.
I’d be very curious to hear what you think of it.
Chris Z
Posted: June 15th, 2006 at 2:26 pm
ARGH! The suspense! I am sorry to hear that something is happening that isn’t sitting right with you. Post your story and I am sure the PF blogging community will jump in to advise!
Posted: June 15th, 2006 at 3:03 pm
Ut oh. That scares me. I tried bidding on your loan and got out bid so saddly I am not your lender. I will be sitting on pins and needles wondering what happened.
Posted: June 15th, 2006 at 9:21 pm
I have done some major shuffling of debt lately with balance transfers and also with my Prosper loan funds due to arrive shortly. The Prosper loan will actually be my highest interest rate and normally would be the first debt to tackle. But I am actually going to go after one of the credit cards first. I’ll try to lay out my game plan shortly in a post.
The best part about my car is that once it is paid off it is still worth around $5,000! Pure asset
Posted: June 15th, 2006 at 9:24 pm
I always hope that it’s the lack of time that’s the problem. It’s hard because I get attached to blogs and the writers. It’s funny how that happens.
I agree that http://www.pfblogs.org has a great system going for keeping the blogroll fresh.
Posted: June 15th, 2006 at 9:26 pm
Mapgirl – if you wrote a book I’d buy it. Well, considering my debt I would probably borrow it
But I definitely would read it!!
Posted: June 15th, 2006 at 9:29 pm
Thank you everyone for commenting and for your support. I just posted about it.
D – thanks for the bid, even if you got outbid. It means a lot that you did
Posted: June 15th, 2006 at 10:47 pm
Don’t let the message boards sour you on the Prosper experience. They can be brutal, and some of the egos there are insufferable. I think I read the comments that hurt you, and I think even the offending person realized that he was wrong. Congrats on funding.
Ben
A Prosper Lender
Posted: June 16th, 2006 at 12:44 am
The small bids do not bother me. If I decide to lend on Prosper (if it’s still around in a few years), it would be hard for me to bid more than $50 on any one loan.
I guess I should note that someone has since placed a bid for the full amount of my loan request. He has now been outbid, but I take it as a compliment that he did that.
Posted: June 16th, 2006 at 8:47 am
Indeed, most people, including me, see you as a low risk borrower because of your blog – you put so many efforts into it, and into the idea of freeing from debt, so it’s unlikely you will just run with money.
However, by general risk aversion, most people will bid high amounts only if there is additional real-life verification.
But, again, I am personally sure you are safe! Best luck!
Posted: June 16th, 2006 at 9:20 am
Well, my blog is free.
Posted: June 16th, 2006 at 9:51 am
As for a calculator that let’s you pick an order of repaymenet, Mary Hunt has one over at cheapskatemonthly.com. Unfortunately it requires a memebership.
Posted: June 16th, 2006 at 10:26 am
There is a pretty good debt calculator at http://www.geocities.com/snidecl/debtsnowball.html. It’s used quite a lot by the Dave Ramsey folks and does allow you to choose your own order of debt repayment.
Posted: June 16th, 2006 at 1:34 pm
Anonymous – I am about as nosy as a person can be and you just said that “I am personally sure…”. Do I know you?
Please email me if you do because I am super-curious! So far, only my mom and my hubby know about my blog but it wouldn’t take long for anyone who knew me to figure out it’s me.
Posted: June 16th, 2006 at 4:22 pm
Hello,
There’s a snow ball calculator at the following link and you choose the order of debt to re pay.
http://www.mdmproofing.com/iym/excel.shtml
Good luck.
Posted: June 16th, 2006 at 4:23 pm
Hi, there is a snow ball calculator where you can choose the order of debt repayment at:
http://www.mdmproofing.com/iym/excel.shtml
Good luck and hang in there!
Posted: June 16th, 2006 at 4:58 pm
I’m glad you’re getting your smile back, it can be a pain getting used to doing something new. I switched banks recently and getting used to how the new bank works vs my old one was pretty frustrating, at one point I almost switched back. Anyway, I’m following your Prosper experiences with interest because I’m thinking of encouraging my bf to use it to pay off his credit card.
Posted: June 16th, 2006 at 5:00 pm
Great advice.
Posted: June 16th, 2006 at 11:10 pm
Congrats on your loan funding, 9.9% is not bad for someone with your DTI…
I’m sad to say that someone sniped me out of the action and before I could get back in the loan had closed…
Posted: June 17th, 2006 at 1:00 am
Thanks! I am pretty happy with 9.9%. That’s okay that you were outbid – you’ve been lending support for a while and I appreciate it. The pf community is something else, I tell ya
Posted: June 17th, 2006 at 4:06 pm
Thanks Kassy. While I don’t mind trying new things – it sure is hard to do. Especially trying Prosper because it is so new.
I think though it has the potential to help out a lot of people. I will still be following it to watch how Propser evolves.
Posted: June 18th, 2006 at 1:52 pm
What may have happened is when you negotiated that lower rate, your terms for the card changed and they added something called an Universal Default which allows them to soft ping your credit accounts and see if you are late on *anything* (I learned about this through Mary Hunt’s Debt Proof Living daily newsletter). If you were late on anything, they use it as justification to raise your rates, regardless if you were late on the particular account or not.
Posted: June 18th, 2006 at 2:17 pm
Amen to that sister!
Posted: June 21st, 2006 at 8:17 am
Maybe after credit card 2 is paid off, you could request a low interest no fee transfer rate. Then move all or part of your student loans (based on the time frame)and make more of your payments pay down the principle.
Just make sure the interest rate you receive (hopefully 0%) is lower than your current rate less the tax benefits.
Ok, my motherly advice is kicking in….Don’t you dare buy a car on a credit card or I am going to spank you and ground you to your room. Alright, I am better now.
Congratulations – Only Good Things to Come!!
Posted: June 21st, 2006 at 9:26 pm
LOL – you almost had me rolling on the floor laughing after reading your motherly advice comment.
Don’t worry – no new car is going on the credit card
Posted: June 22nd, 2006 at 1:59 am
I agree with you about Debtspiration – it’s a good site. I noticed it a few months back.
Posted: June 22nd, 2006 at 12:11 pm
Sounds like a good plan Tricia. Best wishes and keep up the good work!!!
Posted: June 22nd, 2006 at 12:56 pm
I live a cash free life because I can’t seem to manage a cash account in Quicken very well. I hate it. It’s always wrong because I’m not diligent enough to enter absolutely everything.
Posted: June 22nd, 2006 at 11:00 pm
I really like your idea. I feel the same way you do about cash…it too easily slips through my fingers without being accounted for.
Posted: June 24th, 2006 at 8:49 am
So what if its in another location, it’s cheaper interest, which means faster pay down.
Congratualtions!! You are quite a few steps closer to the financial security top of the mountain.
Just remember your journey is not over there. At that point is when most people start to slide backwards. Just switch gears to paying for the future savings.
Posted: June 24th, 2006 at 9:56 pm
congratulations!
How many hours do you work? Sounds like a lot.
Posted: June 24th, 2006 at 11:32 pm
Thanks Claire!
Now that my one part-time job is gearin up, I will be working a total of 52-53 hours a week. My part time jobs are flexible so I can do them anytime I want and one of them I can do at home so the extra hours are not that bad.
Posted: June 27th, 2006 at 3:14 am
Hi! Thanks so much for the link to my blog – that is very cool!
And may I advise that Feng Shui may indeed have something to it. I swear, ever since we did some basic Feng Shui to our apt – including I Ching coins in the proper corn on red fabric, we suddenly started having opportunities and extra money flying at us from every direction! It is certainly worth trying!
Posted: June 27th, 2006 at 5:21 pm
I don’t think it is too early, just make things age appropriate. All my kids are in advanced math classes and I credit this to what we did when they were younger.
I didn’t speak with them at great length but we would dumb the change jar out each week and count and stack. They generally did this while I was cooking supper. We had a set amount we saved and then would take to the bank. They learned a lot like 4 quarters equal 1 dollar etc.
I really think this put them on the right track.
After this we started “how much change”. Everytime we went shopping and the clerk told us the total I would tell them what I was giving and ask how much change will i be getting back.
It was fun and some times took the whole ride home to get the correct number.
Posted: June 27th, 2006 at 5:30 pm
Such a precious moment. I think there is a balance between live and let live and teaching a lesson. The innocence in that is too special. =)
There will be time for that conversation. Maybe you could open up a savings account for him and when he gets a little older, you can take special weekly trips just the two of you to the bank and he can make a deposit into his account. That is a good way to let him learn a little about finance, counting, and also save for his education.
Posted: June 27th, 2006 at 5:56 pm
Too cute. I love it.
Posted: June 28th, 2006 at 10:07 am
A true story — back in the 50s when I was very small my father used to give me 50 cent pieces, or sometimes silver dollars. I thought they were much too pretty to spend, so by the time I was 7 I had almost 60 dollars which my mother convinced me to put in a bank. Do you know how much those COINS would now be worth???
Posted: June 28th, 2006 at 1:09 pm
While I haven’t read much about Feng Shui besides the first few paragraphs on the link you posted, I have to say that since I hung up some capiz shells in our entry way that chime I just smile everytime I walk by. I did it for looks, and then found the happy unintended side benefits.
Posted: June 29th, 2006 at 12:17 pm
Yeah, the CC companies, given a little time, sure are good at giving you an especially long rope to hang yourself. My wife, who hasn’t had an income in over 3 years (but works infinitely harder than me taking care of our son & household), keeps getting rate increases on ones solely in her name. To the tune of just over $60k
What that confirms with me is that some credit card companies are sneaky.
Oh, I’d say all credit card companies are sneaky. Some are just more evil than others!
Posted: June 29th, 2006 at 2:40 pm
I think the real blame isn’t with banks but with the Federal Reserve. Do you ever wonder where that credit increase or money comes from?
Banks don’t manufacture money out of thin air but the federal reserve corporation does so to entice people to borrow and pay interest. It’s one big monopoly game and the players are the real losers.
Perhaps now you’ll begin to understand why inflation for the first 5 months of 2006 was at 5.2%
Posted: June 29th, 2006 at 5:07 pm
This happened to me as well. I had a $11K credit limit with zero outstanding balance and my CC company decreased my limit to $1K. They claimed that it cost them money to allocate the capital and I wasn’t using my account. I had them cancel it immediately. If I did need to use the card, 1K would probably not help.
Posted: June 30th, 2006 at 7:30 pm
Hi Tricia,
I wanted to respond but had too much to say. So please look at my blog.
http://divorce2financialfreedom.blogspot.com/2006/06/hospital-overages.html
I am right with you, being disgusted about the hospital tactics.
Posted: July 1st, 2006 at 11:52 am
Thanks Chitown!!
Posted: July 1st, 2006 at 10:06 pm
Keep up the good work. We are confident that you can reach that goal!
-Medicated
Posted: July 1st, 2006 at 11:09 pm
Very strange in both directions. I haven’t seen either. mY total CC credit limit is $19500 spread over three cards. My salary is $75k and net worth $300k. But the CC companies don’t know anything about the last number, which is why I reckon the whole credit report/score etc. system in the US is just totally dumb.
Posted: July 2nd, 2006 at 12:31 am
Thanks for your support!
Posted: July 2nd, 2006 at 12:37 am
Hi D,
Thanks for adding your experience on your blog – here’s a direct link:
http://divorce2financialfreedom.blogspot.com/2006/06/hospital-overages.html
I had no idea that insurance companies would send me a portion of what I save them! I think it’s great that they they do that, I just wish I knew more about everything back then
Posted: July 2nd, 2006 at 12:47 am
Sean – I tend to want to say they are all sneaky, but I’ve only had experience with 3 companies so I was nice and said “some”
Anonymous – thanks for writing some food for thought. I never even wondered where the credit increases came from.
Chitown – Interesting about them reducing the limit. I do like the credit there in case I need to use it (or if they give me an awesome life of the balance transfer offer). It will be interesting to see what they do now that it is paid off, which it is as of 6/30/06
mOOm – You give a great example of your experience. You made three times as much as me (I’m referring to last year) and my biggest card upped my credit limit to $23,500. My total credit limit among all of my cards was definitely more than my yearly income. I just don’t get it, and I think Sean (first comment) hit the nail on the head “sure are good at giving you an expecially long rope to hang yourself.”
Thanks everyone for stopping by and commenting!
Posted: July 2nd, 2006 at 1:00 am
D – That’s a great idea what you did with your children. Making it a game is sure to keep my son’s attention since he loves games
Chitown – I like your idea of taking trips to the bank. I guess at that moment it was just so innocent and I didn’t want to make much more of it. I think a lot of that has to do with myself having to worry about money at a young age. I lost a bit of my childhood there, and I do miss it. I want him to have fun being a kid, but also learn as much as he can from me. It’s a balance that I think I am after. I think I may make up a game as D suggested, and then after the games we take money to the bank.
Miserly – Thanks
Holly – Funny you mentioned that about 50-cent pieces – it brought a memory flooding back into my mind. When I was quite young, my grandmother used to give me 50 cent pieces when she came across them. Unfortunately, I spent most of them on cigarettes when I was younger and after instant gratification. I wish I had put them in the bank, because I am sure they would have been worth much more now (20 years later).
Ok. It is decided. My son will have a savings account as soon as I have some time to get to the bank.
Thanks everyone!!
Posted: July 2nd, 2006 at 1:24 pm
Congratulations. I know that must feel really good. Keep at it and you will get rid of all your debt sooner than you think.
Posted: July 2nd, 2006 at 2:06 pm
Woohoo! I love statements that say, $0 balance.
Congrats Tricia!
Posted: July 2nd, 2006 at 9:51 pm
I am so proud of you!
I can’t wait until I see my credit card at a $0 balance.
Thanks for this amazing blog – and thanks for mentioning my “Happy Slob’s Guide to Housecleaning” blog in yours some time ago.
Drop by and see if there’s anything new you like…
Hugs,
Christina
Posted: July 3rd, 2006 at 2:31 am
Thank you! I’m glad you enjoyed it
Posted: July 3rd, 2006 at 7:10 am
I love this layout–it’s not just another long list of entries with built-in links, but makes you look for the entries, the links, and includes neat-looking quotes from them.
This carnival looks more like a magazine than a blog–kep it up!
Wenchypoo endorses it.
Posted: July 3rd, 2006 at 1:26 pm
This is above and beyond Tricia! Fantastic job with the hosting!
Posted: July 3rd, 2006 at 3:37 pm
I wouldn’t say that is a bad money decision at all! It’s just a different way of doing things. You tried one way, and now you are trying another way. Good for you for seeing if something is going to work better for you.
Personally, I pay money to my cards every week. I get paid every week though so it’s just easier for me to do it that way. That and I like to see weekly decreases in my debt! I bet you will come to like seeing the numbers go down more frequently!
Posted: July 3rd, 2006 at 7:34 pm
Yeah, Kim – I think your right. It’s probably not a bad money decision in itself. I think though, that if I didn’t have the attitude of going big all the time our debt would be a little smaller right now. I probably would have been sending money to the cards here and there and that would have added up.
It is so hard to get used to a new schedule! I’m jealous that you get paid every week
I had one job in the past that did that and I LOVED it.
Posted: July 3rd, 2006 at 7:39 pm
Thanks! I’m glad you both liked the format. I learned a few neat tricks from http://mandarindesign.com
Posted: July 3rd, 2006 at 7:41 pm
Thanks everyone – you all are making me blush
Posted: July 3rd, 2006 at 10:20 pm
http://www.secret.com/share/secrets.asp?id=608
Not a stranger to this one.
Posted: July 3rd, 2006 at 10:27 pm
LOL – I saw that one too, and I thought of the delivery guy in Legally Blonde. There’s something about a man that brings you goodies every time you see him
Posted: July 5th, 2006 at 1:39 am
http://www.needymeds.com
This is a great resource if you can’t afford your prescriptions. There’s lots of information on this site – eligibility guidlines, application requirements, etc.
Just about every drug manufacturer has it’s own patient assistance program. Once you find the correct program – try searching by brand name or generic name – print off the paperwork, fill in your part, provide proof of income if necessary and give it to your doctor to fill out the rest. They’ll mail or fax it in for you.
Posted: July 5th, 2006 at 3:11 am
Thanks for the info Scarlett! I will be posting about your comment shortly. What a great site!
Posted: July 6th, 2006 at 1:03 pm
I bought a house a few months ago that is about a half an hour from my old apartment. We weren’t able to escape the ice cream man, though. I heard the truck and figured that the fleet just made its way out here. But no, it was the same driver and everything.
Posted: July 6th, 2006 at 1:44 pm
I think you made a good decision to splurge on this memory. I still remember vividly the ice cream truck that came by everyday at my grandmothers when we were there on summer vacation.
We skinned our knees and palms running to that truck, but still to this day I smile at the memory and am greatful for the experience. Everytime I here that wonderful noise my heart speeds up like I am 7 and I am wanting that ice cream all over.
-d
Posted: July 7th, 2006 at 2:28 am
You are doing great! Keep it up and it will be gone before you know it. You are staying focused….that’s the most important and that your debt will never be as much as it is now. It will keep going down.
GREAT JOB!
Posted: July 7th, 2006 at 8:33 am
I hope you are relaxing a bit now. Debt will make you age–at least the stress from it. Looks to me like you are on the right track.
One suggestion – so you don’t forget payments or lose your new lower rates. Make the minimu payments automatic for the day before they are due. Then continue to pay extra when you can.
Maybe you already do this?
I’m cheering you on!!!
-d
Posted: July 7th, 2006 at 1:10 pm
Congratulations!
Posted: July 7th, 2006 at 1:34 pm
7% is awesome. Congrats!
Posted: July 7th, 2006 at 3:27 pm
How exciting! I am so happy for you. 7% for a raise is hardly ever heard of around my place without a major change that is.
See, everything is going to work out fine. You will need to chase down that ice cream man 1 more time this summer, just for your little one.
Posted: July 7th, 2006 at 11:24 pm
Thanks everyone! I’m pretty excited about it. It’s the result of some extra education that I pursued. Now, if I do another course, I will get another 7%.
D – that’s funny you mentioned that. While I was working yesterday I heard the music again and I could hear my son saying, “Ice Cream…Ice Cream…” It was cute.
Posted: July 7th, 2006 at 11:28 pm
Thanks LeighAnn!! I don’t ever want to have my debt that high again. I want to go to cash only living.
D – It’s funny, blogging about my debt is actually making me stress less about my debt. Probably because I am keeping better track of it. I kept track before, but I never had all the info staring me in the face. I have a way in Quicken that helps me to not pay things late. It’s hard to explain. I think the thing I worry about most is having a balance transfer expire and being stuck with a high interest rate again.
Posted: July 7th, 2006 at 11:35 pm
Blaine – that’s funny. Half an hour away is a long drive especially with the high gas prices. You must have been a good customer – LOL.
D – my son wasn’t too thrilled during the moment. He’s pretty shy. But afterwords he opened up a bit about it. Yeah, a little splurge was worth it
Posted: July 9th, 2006 at 9:17 pm
$22.00 for three people to eat and be entertained for an hour and a half is only $4.88 per hour. That’s not bad if you ask me. About the same price as renting a movie from Hollywood or Blockbuste – but you got food too.
Posted: July 9th, 2006 at 11:19 pm
Tricia, it’s no wonder why the movie industry is going down hill. Crappy movies…high prices…bad theater experiences…improvements in home viewing quality (dvds)…cheaper home theather systems…
By the way, tim mmf, actually, for $7.00, they could’ve had rented the same DVD, got a bag of popcorn, and soda…would’ve been $2.33/person…not to mention no gas…although you’d have to pay for electricity. Although, that price for a movie outting really isn’t that bad. It’s $6.50/person matinee, so 3 people would’ve costed around $19.50+popcorn/drink=$28.00, around $6 more…
Posted: July 9th, 2006 at 11:20 pm
That outting would’ve costed $6.00 more here where I live anyway…
Posted: July 9th, 2006 at 11:50 pm
where I live, matinee tickets are usually about $8 per person, plus popcorn combo (8.99)!
so i only go to the theatre once every so often…
-S
Posted: July 10th, 2006 at 6:49 am
I guess for perspective, I should add that when we rent a movie, it costs $0.99 (we usually rent older releases), a 2 Liter of Pop runs around $0.99 (usually someone has them on sale) and a bag of popcorn would cost $0.25 (4 bags for $1.00 for the off-brand). Total of a movie at home $2.23 (about $0.75/person).
I guess what it boils down to is that the experience for us wasn’t worth the price. The money could have been spent more more efficiently. But I think it was good for us to do it since we haven’t been to one in quite a while. It definitely got it out of our system
Posted: July 10th, 2006 at 1:30 pm
Hey! This is NCN…
I just read your post about the tv, and I have to say that I deal with the same stuff! My solution? Go in the opposite direction! Say what? Get rid of some stuff, sell some stuff, ebay some stuff… do whatever it takes to knock out a big chunk of debt… i have found that I get the same “rush” when I pay off a debt or put some savings away as I used to when I bought something… reverse psychology? I don’t know…
plus, there’s really nothing all that awesome on tv anyway…
at least nothing as awesome as the feeling of being debt free…
stay strong! ncn
Posted: July 10th, 2006 at 1:32 pm
Hi Tricia, I know why they keep calling you to purchase, because your main entertainment is the T.V. Just like my family, even with cable costs it is still the cheapest form of entertainment we have.
Hold strong and don’t buy – I am trying this too. Pay off your debt then save for this purchase, the whole time remember what happened with VCR’s & Microwaves when they first came out. Or are you too young? Anyway, when they came out they were soooo expensive then after a couple years the price started declining. This will happen for those beautiful t.v.’s too.
At least this is my plan. I will pay off my debts and save my nickels and in the long run save dollars too.
-d
Posted: July 10th, 2006 at 6:45 pm
NCN – Glad to hear I’m not alone! Well, I do plan on making a mighty good payment this month towards debt and while I know it will feel good…I hope that TV leaves me alone! LOL.
D – Very true, our main form of entertainment is the TV. We rent cheap movies and just watch them at home. Our other entertainment is nature but all of us aren’t home at the same time except for weekends. We only have one car. I don’t remember when VCR’s or Microwaves came out, but I was around for Computers and DVDs. They sure did come down in price quickly once manufactures were able to make things cheaper.
And, our cable only costs $15.45/month
Posted: July 10th, 2006 at 9:46 pm
We took our 3.5-yo daughter to Cars for her first theater experience, too. Our outing cost a tad more than yours ($28), but the sound was good and the overall theater “experience” was okay.
Kid still can’t stop talking about that movie. It was worth it, I’d say, just to see her be so happy and enthralled for those few hours.
Posted: July 10th, 2006 at 10:23 pm
Michael – if that happened with my son (seeing him happy), it wouldn’t have felt like a waste of money. He wasn’t very impressed, but I think it was the theater. When you’re from a small town, you have to live with what you have. It probably would have been a better experience for him in a better theater.
Until we get one of those theaters with cushy rocking seats and DTS sound, we’ll just stay home.
Posted: July 11th, 2006 at 2:20 pm
I worked at a video store for about 6 months. It was a fun job and I got to meet a lot of people…however a lot of them asked the stupidest questions ever. Our favorite were the people that would come up and ask if they had to rewind the DVD. I couldn’t believe it the first time I got asked that.
Posted: July 11th, 2006 at 2:21 pm
I did the cashier thing too. Anytime you deal with the public, you put yourself at risk. People are rude and self serving. The ones who do it, I don’t think were ever taught to put themselves in anothers shoes.
I am so impressed by the lady who came back to apologize. You know that was hard. 1st you make an idiot of yourself then go and eat crow. I respect her more now, which I am sure you do as well.
Posted: July 11th, 2006 at 2:35 pm
Thanks for the mention Tricia and for your idea! It’s challenging to put together a great source of hopefully passive income from home!
Posted: July 11th, 2006 at 7:28 pm
I did the Take 5 blast too, I didn’t think I’d like them either, the thought of pretzel threw me off but they were pretty good.
Posted: July 12th, 2006 at 2:42 pm
Yeah, I did the Take 5 Bzzblast and I actually enjoyed the pretzel… salt and sugar, good combo.
Thanks for the link!
Posted: July 12th, 2006 at 3:48 pm
Hey, thanks for the NCN Network “love”…
You rock…
NCN
Posted: July 12th, 2006 at 6:44 pm
Do you have a dog? I know growing up our Chesapeake Bay retriever would go swimming daily in a pond near our house and he would bring many ticks back around the house!
It was a summer chore to search that dog daily for those blood-suckers!
-Medicated
Posted: July 12th, 2006 at 6:45 pm
That is just too cute! What a clever little guy!
Posted: July 12th, 2006 at 10:27 pm
Tricia…
Great job on the debt reduction!
I have posted your latest updates over at the NCN Network site! You rock!
NCN
update here:
Blogging Away Debt Update 4 .
Posted: July 13th, 2006 at 9:11 am
I think you are doing great. Your balance’s really seem to be moving. This is so good for motivation.
-d
Posted: July 13th, 2006 at 3:11 pm
Our matinee experience cost of $40. The ticket price for 2 adults and 2 chilren was $22. Then we told the kids we could have popcorn. Luckily the movie was great (as was the theater) but we can’t afford to do that too often. We do have a dollar theater here (actually $2) so we just have to wait a few months when we want to see hot films. Gotta remember that.
Posted: July 13th, 2006 at 11:17 pm
I’ve linked to your site!
Posted: July 13th, 2006 at 11:27 pm
Thanks! You just had that article about Flogz – that sounds pretty neat.
I’ll be adding you shortly
Posted: July 13th, 2006 at 11:51 pm
Hey! I’m linked to you… twice…
via ncnblog AND the ncnnetwork site…
NCN
Posted: July 13th, 2006 at 11:57 pm
NCN – I proudly wear my NCN badge, and I’ll be linking to your blog shortly as well.
Keep rockin’ with the savings!
Posted: July 15th, 2006 at 8:58 am
It did take a lot for that woman to apologize. I forgot to mention above that she was a regular customer and was always nice. I guess she really was having a bad day.
When a cashier is rude, as long as it isn’t extreme I tend to let it go. I know how hard it is to get chewed out by a customer for no reason and really having it put a damper on your day.
Posted: July 15th, 2006 at 11:01 am
We do have a dog, but I don’t think they are coming from him. When he is outside he is just in our yard right by the house which I do not think would be inviting to ticks (but I could be wrong).
The tick just must have come in on some clothes and hid out until he decided to attach to my son’s head.
* shiver *
Posted: July 15th, 2006 at 11:03 am
Thanks everyone! The balances aren’t moving as fast now because everything was jump-started with a tax return. But the important thing is that it is going down
Posted: July 15th, 2006 at 11:20 am
Hi Tricia, congrats on your new site! It looks great! I have fixed my link to you.
Posted: July 15th, 2006 at 11:51 am
If you don’t feel it already, you will start to look forward to seeing the statement in the mail with your new LOWER balance, and you will look forward to writing those checks every month to make that debt go down even more! Great job!!
Posted: July 15th, 2006 at 11:53 am
Tricia, that post just creeps me out! I get completely wigged when I see a tick on someone and so far have been lucky enough to avoid having one chomp into me. But if one every does, I am going to turn into SUCH A BABY! I will totally freak!!
Posted: July 15th, 2006 at 12:05 pm
Thanks Lisa
Posted: July 15th, 2006 at 12:47 pm
[...] Blogging Away Debt had some fun paying off credit cards. [...]
Posted: July 15th, 2006 at 6:31 pm
Thanks for the link, and I have updated your link. Thanks. hope you have a great day Tricia.
Posted: July 15th, 2006 at 8:42 pm
It only gets better. When I paid off my first card I grinned all day! Looking at the $0.00 balance on my computer screen was all the motivation I needed to stay on the goal. You’re doing great!
Posted: July 16th, 2006 at 10:34 am
[...] I had a little bit of fun yesterday, and just started paying credit cards. It was best to get the money out of my checking account before I ended up spending it on something. [...]
Posted: July 16th, 2006 at 10:45 am
[...] I briefly mentioned how HDTVs are tempting in my Keeping Motivated to Become Debt Free post. I mentioned that back in April and here it is July. They are still so tempting. [...]
Posted: July 16th, 2006 at 10:50 am
[...] I wrote a while ago about a program that helped me with the cost of prescription drugs. I was just left a comment by a brand new personal finance blogger, Scarlett from Financially Secure, that gave some great info! “This is a great resource if you can’t afford your prescriptions. There’s lots of information on this site – eligibility guidlines, application requirements, etc. Just about every drug manufacturer has it’s own patient assistance program. Once you find the correct program – try searching by brand name or generic name – print off the paperwork, fill in your part, provide proof of income if necessary and give it to your doctor to fill out the rest. They’ll mail or fax it in for you.”www.needymeds.com [...]
Posted: July 16th, 2006 at 11:11 am
I was getting very close to the $30K mark myself when I decided to get it under control. Best of luck to you in getting it paid down.
Posted: July 16th, 2006 at 11:13 am
You’re in my blogroll.
Posted: July 16th, 2006 at 11:19 am
[...] I guess what I would like to see is our Net Worth increasing by at least $1,000 every month. With the extra income we are now making and the credit cards now at very good interest rates, that is my Net Worth goal I am shooting for. [link] [...]
Posted: July 16th, 2006 at 11:22 am
[...] One thing I will never understand about credit card companies is why our credit limits are so high. Credit Card #2 just kept raising and raising my limit when I was near my limit (which was often). It started off in 1995 at $500. Then they kept raising it and before I knew it – my credit limit was more than I made in a year. [...]
Posted: July 16th, 2006 at 12:13 pm
You have a link at my new money site. Don’t forget me.
Posted: July 16th, 2006 at 5:39 pm
[...] Unfortunately due to my medical visit, there is a good sized expense (compared to normal) in the Medical category. I have found an insurance plan that I believe is a good one, and once our car is paid off in September, that will free up funds to obtain health insurance ($259/month). [...]
Posted: July 16th, 2006 at 5:39 pm
[...] I never did locate the $22 receipt I was looking for. So, I decided to just put it to groceries. We do sometimes buy bulk food items from the department store and when we do it can run around $30. [...]
Posted: July 16th, 2006 at 5:44 pm
[...] Recreation involved getting fishing licenses and plenty of bug spray [...]
Posted: July 16th, 2006 at 5:53 pm
I’ve blogged rolled you earlier this week, but hadn’t realized you moved. I’ll update the link.
Posted: July 16th, 2006 at 6:13 pm
[...] UPDATE: Thank you to all who entered – Kassy at Sparing Change was picked as the winner and you can read her entry here. [...]
Posted: July 16th, 2006 at 6:18 pm
[...] As part of the contest, I wanted the recipient to give the book away to someone else who would like to read it. When Kassy is done reading it, she will hold the next contest so if you would like to read the book – stay tuned! [...]
Posted: July 17th, 2006 at 11:03 am
Funny, I got the same message on my visa bill this month. I always pay this card off monthly – so I found the offer strange as well. Perhaps our credit companies are hurting for money.
Nah! – Scammers!!!
Posted: July 17th, 2006 at 1:39 pm
I used to get offers like this all the time from one of my credit card companies, though I can’t recall exactly who it was offhand. Actually, it was a better deal than this – no payment for the month (oh, but the finance charges continue to accrue, of course. in microprint.).
They probably still occassionally offer the chance up, but it’s been awhile since I’ve read through all the junk in my paper statements (outside of verifying that nothing that wasn’t posted online shows up).
Posted: July 18th, 2006 at 12:46 am
[...] 6.) Check out my list of Tips for Listing a Loan on Prosper for some general tips. [...]
Posted: July 18th, 2006 at 1:11 am
[...] If you haven’t yet, make sure you check out the Festival of Frugality over at Aridni. My article on a few cheap ideas to spruce up the look of an old home is included. [...]
Posted: July 18th, 2006 at 1:12 am
[...] Previous My Telephone Call with Prosper Next: $3,500 at 10.69% with Less Than 5 Hours Left to Go [...]
Posted: July 18th, 2006 at 1:12 am
[...] I took the opportunity to ask her about the income at Prosper since one of the things I was battling with was the fact that I listed household income. I was concerned that lenders that already bid on my loan may be upset once they found out what I calculate my total household debt to income ratio to be. This month it’s 45% but Prosper doesn’t include mortgage debt so that reduces our ratio to 34%. Even though I give out a lot of information about myself on my blog, I don’t want to feel like I tricked people into bidding on my loan by doing something wrong (hense the reason why I thought of relisting). [...]
Posted: July 18th, 2006 at 1:13 am
[...] I was fairly impressed with “The Millionaire Next Door.” It made me really think about things and be reflective on my life and who I am. I like that. That means that I am “growing.” [...]
Posted: July 18th, 2006 at 1:13 am
[...] At the end of my review of “The Millionaire Next Door,” I announced that I would like to give my copy of the book to someone else. So far, I haven’t received any emails. If you are interested, please check out the instructions at the end of my post here. [...]
Posted: July 18th, 2006 at 1:19 am
[...] I love it when I read something and things (as I like to call it) hit me like a brick. While surfing my blogroll, I came across a comment left over at Dual Income No Kids. [...]
Posted: July 18th, 2006 at 10:07 am
Congrats…Your doing very well.
Posted: July 18th, 2006 at 6:57 pm
Have you asked if they could give you a loaner car to use?
Afterall it is their recall. Hope you have luck and blessings with
getting it repaired.
Quo
Posted: July 18th, 2006 at 7:11 pm
You know what’s REALLY cool…you look at those monthly payments. If you get everything else out of the way, everything except the mortgage, that’s $957 per month that can go towards STUFF, or SAVING, or GIVING away! Isn’t it amazing! What will you do with all that MONEY!!??!!
Way to go, girl!
Posted: July 19th, 2006 at 5:53 am
I was just going to say what Quo did. Most dealers will give you a loaner
if it is going to take longer than a day.
What’s up with this comment thing? The box goes off into infinity on the right.
Don’t know what I’m writing over there…no slide to slide over and look.
Incase you didn’t know.
-d
Posted: July 19th, 2006 at 7:06 am
Unfortunately, the dealer does not have loaner cars and they suggested I rent a car locally. It would have been great if they had a loaner.
D – thanks for the heads up on the comment box. I’ll take a look at it soon.
Posted: July 20th, 2006 at 8:13 am
I think you did the right thing. I would love to do this…
but am terrified, that I wouldn’t have enough skills to set
it up properly.
Maybe if I got Blogging for Dummies or something like that?
LOL
-d
Posted: July 20th, 2006 at 12:00 pm
[...] I was surprised to see that you can obtain policies through Aflac as an individual! Last I knew you needed to have an employer participating to obtain a policy. I spoke with the representative this week and and received a few quotes on Term Life Insurance, Accident Insurance and Dental Insurance. Unfortunately, Vision is not available to individuals and that was one policy I was interested in (remember how my frugal glasses broke? I still haven’t bought new glasses yet). [...]
Posted: July 20th, 2006 at 1:56 pm
D – If you have questions about it, feel free to email me. It actually wasn’t too bad to do, and if you have been working with Blogger a lot of it is similar.
Well – besides the fact my comment box is still working funny – LOL.
Posted: July 20th, 2006 at 2:03 pm
Hey D – DreamHost has one-click installs for a lot of different programs such as wordpress and joomla. Give it a try, DreamHost has been great! I use them too.
Tricia, you’re doing fine. Using the income from referrals to pay for your hosting is a good idea, it makes your blog self-sufficient.
Posted: July 20th, 2006 at 2:28 pm
So much to say, cause I am a big mouth and a mom. Decided it would be better
to post my big mouth motherly advice.
http://divorce2financialfreedom.blogspot.com/2006/07/insurance-is-must.html
Posted: July 20th, 2006 at 3:51 pm
If you’re serious about blogging, you HAVE to get away from Blogspot, IMO. You really have no choice.
Hosting is so cheap now that not doing it is silly. And the techie side of it really is NOT hard to master.
Posted: July 20th, 2006 at 7:14 pm
[...] I still have $3,500 left on Credit Card #2 that I cannot do a balance transfer with. I have been debating trying Prosper for a loan, and I decided to just go for it. [...]
Posted: July 20th, 2006 at 7:26 pm
[...] I love garage sales and I love getting deals. But after starting this blog, and taking inventory of the things I don’t need, I realized I have gotten some great deals throughout the years – but most of it is stuff I didn’t really need. Things like picture frames, decorations, clothes that I don’t wear, etc. [...]
Posted: July 20th, 2006 at 7:32 pm
[...] I’ve discussed my thoughts along the way, from realizing that I was making huge stereotypes about millionaires to realizing that I have the makings of a millionaire mind after all. [...]
Posted: July 20th, 2006 at 7:59 pm
[...] I mentioned a while back that I wasn’t going to save up an emergency fund before paying down my debt. I didn’t see the point of taking months to save it up when I am paying interest on my credit cards during that time. If an emergency arises, then I still have the cards to use if I need to. [...]
Posted: July 20th, 2006 at 8:01 pm
[...] 1.) Will applying to be a borrower affect my credit score? Having inquiries on your credit score can lower it by a few points. With my score recently increasing, I would not like it to lower. But I have discovered that the credit report that Prosper pulls on you (to obtain your public credit rating) does not affect your score! It is initiated by you – so it does no damage to your FICO score. [...]
Posted: July 20th, 2006 at 8:03 pm
[...] I haven’t posted as much as I would have liked to this week. I guess I just have been a little bummed about having to use my credit card to buy groceries. [...]
Posted: July 20th, 2006 at 8:04 pm
[...] Previous The Makings of a FICO Score Next: A Few Updates from the Night Owl [...]
Posted: July 20th, 2006 at 8:06 pm
[...] Previous Money, Marriage and Compromising Next: New FICO Score Arrived! [...]
Posted: July 20th, 2006 at 8:15 pm
[...] My husband and I get along fairly well, except for one little thing. We often do not communicate clearly with each other. He knows that I am really trying to pay down debt (I take care of all of the finances), but I didn’t make it really clear to him how aggressive I was being. And when I say aggressive, I mean that I am often leaving only a few dollars in our checking account. That action is what led to using the credit card this past weekend. [...]
Posted: July 20th, 2006 at 8:20 pm
[...] I’ve been curious about it because I have been trying to get the balance off of Credit Card #2 so I can transfer it back on for a lower rate (the rate is currently 16.49%). I tried going to a bank once for a loan, and that didn’t work. Could something like Prosper work for me? [...]
Posted: July 20th, 2006 at 8:28 pm
[...] I’ve mentioned before how it can be a motivator to add up all of your minimum monthly payments to debt. For me, seeing that number helps me realize how much money could be available for other things in life, like saving for retirement. That’s something I hope to be able to start soon. [...]
Posted: July 20th, 2006 at 8:29 pm
[...] Previous Caught Red-Handed with an Overspender Mentality Next: Still Searching for Life Insurance [...]
Posted: July 20th, 2006 at 8:32 pm
[...] Even though I have realized things that I need to work on with myself (like a possible tendency to overspend and I need to learn to dream bigger), I have realized that I share some traits with millionaires: [...]
Posted: July 20th, 2006 at 8:34 pm
[...] 2million is the host for this week’s Carnival of Personal Finanace this week. My post included over there is where my money goes. Have fun everyone checking out the great articles. [...]
Posted: July 20th, 2006 at 8:39 pm
[...] My frugal glasses took a major blow and are damaged beyond repair. Right now my damaged lenses are in a pair of very ill fitting frames just so I can see to function. I can’t wear these ones out of the house. I do have some older pairs of contacts that I have kept for occasions such as this, so will bring them out of retirement and wear them when I need to. Come Monday morning I will be making an appointment for an eye exam and paying the money for a new pair of glasses. [...]
Posted: July 20th, 2006 at 8:52 pm
[...] I recently explained why I will not pay for my son’s education in full. I received some great comments, and I felt I had enough to say to warrant another post on the topic. [...]
Posted: July 20th, 2006 at 9:05 pm
[...] The first thing that grabs my attention is the $55 that was spent for fuel in April. We didn’t really travel much more than normal. I am inclined to wonder if it is related to the problem with my car – which ended up being just the gas cap not tightened properly (doh!). Or, it could just be how the fill-ups were timed (there are two fill-ups there). I will be curious to see the numbers for May. [...]
Posted: July 20th, 2006 at 9:17 pm
[...] Thanks to the loan from the in-laws that turned into a gift last week – Credit Card #2 has received an extra $1,775 and the balance is now under $20,000! [...]
Posted: July 20th, 2006 at 10:03 pm
[...] Things were made even better yesterday when my husband’s mom called. She just got the $1,775 check in the mail for the loan they gave us when we purchased our home. I guess she really didn’t need the money and she said she wrote all over the check voiding it and will be sending it back. I guess her bringing up the loan didn’t mean they needed it. We were also told it was officially a gift. [...]
Posted: July 20th, 2006 at 10:06 pm
[...] After thinking it over, our car went back to our regular mechanic to get it diagnosed and fixed. It went in at 10am and my tummy has been upset ever since. After fearing the worst for hours, I heard from his shop around 5pm and are you ready for how much it cost? You really ready? [...]
Posted: July 20th, 2006 at 10:11 pm
[...] NOTE: Since originally publishing this post, I had to update my net worth. Something I thought was a loan (and I paid) ended up being a gift. For the new net worth as of 4/30/06, please see my post here. Thanks [...]
Posted: July 20th, 2006 at 10:23 pm
[...] I believe a big part of keeping motivated to become debt-free is to find others in similar situations and to stick together and support each other. It turns out, there is a great website out there offering such a place and I have recently joined the No Credit Needed Network. [...]
Posted: July 20th, 2006 at 10:24 pm
[...] Ouch, another big bump in the road and just a few days after announcing the goal date. I think I will leave the goal date intact for the time being because time is limited to run all the scenarios again. [...]
Posted: July 20th, 2006 at 10:27 pm
[...] Then I discovered that Dawn from Frugal for Life expressed that she enjoyed my article on Keeping Motivated to Become Debt-Free. That meant so much to me that I went and submitted my post to Ezine Articles and it was just accepted to be published [...]
Posted: July 20th, 2006 at 10:28 pm
[...] Well, as I’ve posted before, my car’s check engine light came on and it went to the mechanic today. He said it could take a couple hours to diagnose. Understandable. But here’s the problem… [...]
Posted: July 20th, 2006 at 10:49 pm
[...] For all of those fighting debt, the weekly carnival of debt reduction is a must-read. My contribution this week is my post on Keeping Motivated to Become Debt-Free. [...]
Posted: July 20th, 2006 at 10:58 pm
[...] 7.) Try Not to Get Depressed. Depression is a big motivation-buster, but it is so easy to go into when your debt is making your life miserable. I still get depressed sometimes, and when I am I do not go shopping and I just stay away from financial decisions while depressed. Then, work on feeling better by focusing on what you do have instead of what you don’t have. [...]
Posted: July 20th, 2006 at 11:00 pm
[...] Previous It Was Scheduled to Transfer and I Couldn’t Do It!! Next: Toyota Echo – the Perfect Car for the Frugal-Minded [...]
Posted: July 20th, 2006 at 11:01 pm
[...] I am starting to wonder what the heck is wrong with me. I have had plenty of time to think about what to do with a refund from my credit card. I received some great comments when I posted my dilemma earlier on my blog, and I had the $5,600 all set and ready to go to Credit Card #4. The payment was scheduled for tomorrow. [...]
Posted: July 20th, 2006 at 11:03 pm
[...] I had $1,000 extra that I used to pay down credit card #2. Now I read that I should have kept it for an emergency fund? [...]
Posted: July 20th, 2006 at 11:04 pm
[...] Earlier I mentioned that we were going to picnic instead of having dinner at home for Easter. And, I must say, we have found a new Easter tradition. [...]
Posted: July 20th, 2006 at 11:07 pm
[...] I posted a quote on determination a few days ago, and a comment left by Hazzard at Everybody Loves Your Money reminded me of another quote (thanks for jogging my feeble memory . It’s one that I wrote in the card I gave my niece when she graduated from high school. I haven’t seen her in some time – I wonder if it made an impact on her life it did me when I first read it. I hope everyone likes it as much as I do. [...]
Posted: July 20th, 2006 at 11:12 pm
[...] I received my overpayment refund from Credit Card #3. Now, the question is … who should get it? [...]
Posted: July 20th, 2006 at 11:19 pm
[...] Like the time I initiated a balance transfer to the wrong credit card. [...]
Posted: July 20th, 2006 at 11:23 pm
[...] That was fun and it felt good to get a bad money decision off my chest a few days ago. Why not do it a few more times? [...]
Posted: July 20th, 2006 at 11:25 pm
[...] UPDATE: 6/24/06 Projected 2006 – $45,000 [...]
Posted: July 20th, 2006 at 11:29 pm
[...] I was pretty cautious of my entire phone call from them as being a scam, but it really sounds like everything was legit. [...]
Posted: July 20th, 2006 at 11:42 pm
[...] As you can see, Credit Card #3 has a HUGE credit. I was supposed to transfer from Credit Card #1 to Credit Card #2 but I transferred the wrong balance. [...]
Posted: July 20th, 2006 at 11:43 pm
[...] Remember how I made a boo-boo and did a balance transer to the wrong credit card? Well, I tried to get a refund of that overpayment and it will take approximately 2 weeks to “verify” the payment and issue a refund. I’m not sure what they need to verify because it was an electronic funds transfer. But, my guess is that they just want to keep my money a little longer. [...]
Posted: July 20th, 2006 at 11:48 pm
[...] I’m not going to cancel the card though – because that’s what they want me to do. The transcript to the conversation I had with them before is here. They were quite willing to let me go. [...]
Posted: July 21st, 2006 at 3:05 pm
Well, I know as one half of a childless couple that my demographic is not the same as yours, but I’m doing a 12 week grocery budgeting experiment right now in my blog.
The goal is to do a full physique transformation (drop ~15 lbs and 8% body fat) for $40/week, including gym fees, equipment like shoes, required supplements/vitamins, and enough groceries to eat SIX healthy meals a day. I subtracted the cost of the non-food items and services at the start from my $480 grand total, and was left with just $21.29/week for groceries for myself.
So far I’ve been able to stay on track, though a huge bulk purchase of chicken breast and staples that last a few weeks/months in week 1 bumped my first bill up to $77. Weeks 2 and 3 have come in at around $15 and $9.
I fully expect to stay within my grocery budget of ~$250 for 12 weeks worth of food. And I bet that I eat a lot more than most women do during the course of a single day, too, LOL.
My usual monthly spending on groceries for myself and my boyfriend is $200-$240. He usually eats lunch on the road, so count about $140 for his lunches (paid for from his own account), but I prep and eat almost 100% of my meals from purchased groceries. My personal dining out budget is only $25/month, and I rarely use it. We tend to spend under $30/month on shared dining out meals.
If I could convince my boyfriend to pack his lunches, I am pretty sure I could cut that $140 he spends down to $70 or less.
I’m working on it.
Posted: July 21st, 2006 at 3:43 pm
[...] Tricia of Blogging Away Debt just moved her blog away from blogspot (Congratulations!) so give her new place a good breaking in. As for interestingness, I found her experience with AFLAC (think of the duck that keeps yelilng AFLAC but no one pays attention) pretty informative. [...]
Posted: July 21st, 2006 at 11:45 pm
Thanks D! My mom reads my blog so I’m sure she’s smiling cause you’re telling me EXACTLY what she tells me
Posted: July 21st, 2006 at 11:55 pm
I made the change in your URL on my blogroll. Congrats on the move!
Posted: July 22nd, 2006 at 2:08 am
Thanks everyone! You have been added
Posted: July 22nd, 2006 at 2:48 am
Trish, Congratulations! That’s a pretty amazing amount of progress you’ve made in less than 6 months. Keep it up, and you’ll be blogging about saving and investing in no time
Posted: July 22nd, 2006 at 2:50 am
Hmmm, will you have to change the name of your site when you are no longer in debt???
Posted: July 22nd, 2006 at 2:58 am
Looks good!! Congrats Tricia!
Posted: July 22nd, 2006 at 10:17 am
Yay!!! That is SO awesome!!! Congratulations!!!
Posted: July 22nd, 2006 at 10:39 am
Jason – Good point about when it’s gone. But, right now I am only blogging about credit card debt. I also have over $60,000 in other debt that I will tackle after the credit cards are paid off. But I will start saving and investing one the credit cards are gone. Hmmm, I wonder what I could name it…anyone have any suggestions?
Lisa – Thanks!
Posted: July 22nd, 2006 at 10:42 am
Thanks Freedumb – I’m looking forward to seeing your new site soon
Posted: July 22nd, 2006 at 10:58 am
[...] Tricia from Blogging Away Debt—now at its new location—has reduced her debt to below $30,000. Congratulations! If the struggle to get out of debt is your thing, check out Debtspiration, a blog listing inspirational quotes about getting out of debt. Kira at Penny Foolish thanks her family for the financial advise they’ve provided over the years. [...]
Posted: July 22nd, 2006 at 11:27 am
Heh, I’m looking at that list there and one of the sites just doesn’t seem to fit the mold of the other ones…ha ha ha!
I really should get around to officially launching my personal finance blog so that I start leaving a relevant site in my comments everywhere.
Good luck with the new domain! You’ll be very happy to have gotten away from your old site.
Posted: July 22nd, 2006 at 11:44 am
Yeah Blaine – you don’t fit, but we’re all waiting for your PF blog!!
Posted: July 22nd, 2006 at 5:52 pm
Wow Maggie – I just checked out your site. You are going for double challenge and that’s great. Keep it up – you’re doing great!!
Posted: July 22nd, 2006 at 10:15 pm
[...] I called Credit Card #2 at the end of May and they were pleased to lower my interest rate from 16.49% to 13.99% by giving me a different “preferred” card. [...]
Posted: July 23rd, 2006 at 12:34 am
You know, 6 months ago I called to have my interest rate lowered, and they did it. I checked my rate the other day, it was back up to where it was before! I think this is all about Mr. Bernanke and the FOMC’s raising rates through the spring and summer. I am glad that they probably aren’t going to raise it again soon, but do you think it’s too early to call and ask my rate to be lowered again?
Posted: July 23rd, 2006 at 12:49 am
Excellent!! You’re on a roll!
Posted: July 23rd, 2006 at 7:58 am
Yes, the 13.99% rate seems to be a variable rate and is subject to change every time Fed rate (and therefore prime rate) is increased.
Posted: July 23rd, 2006 at 9:02 am
There are very few “fixed” rates out there anymore. Even the ones that are “fixed” most likely have a clause that indicates they can raise the rate at anything. I would suggest that the next time you request (and receive” a rate drop over the phone, that you request that they send you the terms and conditions of your new rate in writing.
I’ll be curious to hear what their response is.
Posted: July 23rd, 2006 at 10:22 am
I plan on calling them tomorrow. They probably will say it was because the prime rate raised, though. It’s just annoying because I called and they sent me a new card with the “new” rate and it only lasted a month.
Mapgirl – if you have a balance on your card, I’d be inclined to keep trying to get it lowered if you were successful at doing it once.
Posted: July 23rd, 2006 at 7:31 pm
Like Lisa said most credit cards use variable APRs and there is a loophole that allows them to change your APR at anytime and they do not have to notify you.
The first thing you should do is consolidate your debt and pay off as much as you can. Consolidate it to one card and get a “fixed” APR.
Also you should check out http://www.prosper.com – This site is a person to person lending service where people bid on lending you money based on a credit score among other things. This might help some of you out and you can ask for as little as $1,000 up to $25,000 I believe.
I just started lending as my credit is about as clean as a whistle. After awhile once you get yoru credit cleared up, you will be able to get 0% credit cards or a fixed APR on a credit card around 8%. Some credit cards have fixed APRs at 2.9% for the life of the card.
Always call you Credit Card company and ask to speak with a manager about an issue with your interest rate. Let the manager know you need to lower your interest rate and have it fixed, and if you need your credit consolidated asked what they can do for you on that front. If you owe a credit card company money and you let them know you will be transfering that debt to another credit card, they will most of the time work with you. Just be nice and patient and explain your needs and don’t be afraid to say you will be transfering the debt, but you would like to stay with this company, but you need a reason to stay.
Even though I don’t have a problem with my credit, every now and then I even miss a payment because I forget or I’m out of town etc. I normally call them up and ask them to credit back any late fees and if I had a 0% on the card to make sure it is still not affected. From time to time I speak directly with a manager on duty and I have the situation cleared up. I’ve even had 0% extended for 12 months because I let it lapse on a card I had not used.
Credit card companies need you as customers, so make sure you know this and use it to your advantage.
Good luck everyone =)
Posted: July 24th, 2006 at 11:55 am
[...] Tricia presents An Interesting Credit Card Company Tactic posted at Blogging Away Debt. [...]
Posted: July 24th, 2006 at 4:03 pm
Are lenders on Prosper allowed to discriminate in ways that banks and other lenders cannot? I am not trying to make a point; I’m curious. In my profession, with my organization being a mortgage lender, we cannot discriminate based on age (though we can on length of credit history) or marital status.
Posted: July 24th, 2006 at 4:09 pm
[...] As of 6/30/06, Credit Card #2 is paid off!! To see where it was back in February, click here. [...]
Posted: July 24th, 2006 at 7:31 pm
[...] I called my credit card because they raised my rate only a month after getting it lowered. The customer service representative stated that it was due to the prime rate raising. Ok, I understand that. [...]
Posted: July 25th, 2006 at 9:42 am
It sounds like a typical credit card company. I’m sure there is a fee too (3% .. min $5 .. max $75) BUT you might want to consider it. It’s been a little while since I have checked out your status, but if it’s fixed for the life of the loan then it could be a really good deal for you. Even with the $75 (potential) fee, you could really save a bunch in interest if you have money that is sitting at above 10%. I am about to do that with my HELOC … move it from 10.375% over to a fixed 4.( and when I I ran the numbers, it was going to save me almost $450 in interest.
Posted: July 25th, 2006 at 9:47 am
It is never to early to talk. Sounds like he will get all the financial info he needs from his mom. Don’t give up!
Posted: July 25th, 2006 at 12:20 pm
Whoa! I spend less and I have 7 kids. The trick is saving money on the meat, poultry and fish. If you can cut back on the expenses such as cookies, snacks and such..then you’re half way there. Trust me, when there isn’t much money to work with…one becomes very creative! There is a family of 13 kids and 2 adults that live on $400. in groceries a month. She posted the breakdown of their grocery budget on the forum. Let’s say it was very creative!
Good Luck!
PS: I couldn’t see the whole comment box, so I don;t know if I made any typing errors. Sorry…if I did!
Posted: July 25th, 2006 at 12:25 pm
That’s a really neat thing to discuss things like that! I’ll have to try it.
Posted: July 25th, 2006 at 5:19 pm
My hope is that by the time that he grows up, he’ll be able to look at this blog and learn a lot. My parents never really discussed money with me. I understand why they didn’t and I’m definitely not mad at them for it. I just want to give him a little head start with saving
Posted: July 25th, 2006 at 5:25 pm
Right now my highest interest loan is my Prosper loan at 9.9%. In my listing, I said I wouldn’t pay it off first (to let lenders earn some interest) and I’ll stick to my word. I would save some money by transfering to a 3.9% balance but not too much considering the balance transfer fee.
If it was just another credit card – I probably would take that offer. Or if I had a HELOC I’d think about it too.
Posted: July 25th, 2006 at 5:36 pm
I’m not sure about being a Lender on Prosper, but as a borrower I only needed to disclose what I wanted to disclose. Since I had my blog – Lenders had the ability to look at everything with me (such as age and marital status).
If Borrowers are not comfortable with disclosing their age or marital status they do not have to, unlike when they walk into a mortgage office.
Any lenders wish to comment?
Posted: July 25th, 2006 at 8:52 pm
My best grocery budget tip is ALDI. If you have one there use it. Make a menu and a list and stick to it! Another thing I do is to only buy meat on sale and then rarely use it as the main dish. I also try to sneak in a vegetarian meal here and there. Meat is expensive! I love the hillbilly house wife website. You can link it from my blog.
Posted: July 25th, 2006 at 9:02 pm
Stephanie – Unfortunately, I do not have an ALDI. I know of them from living in a city for a while and I shopped there often. In my neck of the woods, there isn’t much for great discount stores. Not even a Sam’s Club for bulk goods.
Supermom – Do you have a link to that woman’s post? I am trying to figure out what’s wrong with my comment box in IE. It works fine in other browsers and I am stumped.
Thanks to you both for stopping by!
Posted: July 25th, 2006 at 10:33 pm
[...] Right now I am so focused on reducing debt that it scares me sometimes. I worry that with paying so much off and cutting so many corners that maybe we aren’t living for today. That’s where my husband comes in and keeps me in check so I am thankful for that. [...]
Posted: July 26th, 2006 at 11:23 am
[...] “Tricia’s grocery bills are too high So she’s found some new tips she can try She lists some of the best And then links to the rest Giving many ideas to apply.” [...]
Posted: July 26th, 2006 at 2:49 pm
Hi Tricia,
I discovered this blog via Darren’s group writing project.
Your post reminds me of my first websites that I designed and I regret that I didn’t preserve a screenshot of them. I think I would shudder to see…
Posted: July 26th, 2006 at 8:04 pm
I think this is so good that you are discussing this topic with him so early.
I wish my parents had done the same with me.
Posted: July 27th, 2006 at 1:50 pm
Just be careful to put that information in a safe place!!! =)
Posted: July 27th, 2006 at 2:26 pm
Hello Tricia,
Here is what I do – maybe it will help. I linked back to you.
Will My Spouse Be Ok If I Die
Always a good idea to keep him in the game.
Posted: July 27th, 2006 at 8:26 pm
I’ve redesigned my blog several times as well. I like your current theme! Great post – we did this project as well – http://lilduckduck.com/archive/187
Posted: July 27th, 2006 at 8:37 pm
Chitown – Oh yes, that info will be under lock & key
D – Great post! It’s just hard to keep him in the game when he doesn’t want to play. I look at our finances as sort of my hobby and he looks at them like a chore.
Posted: July 27th, 2006 at 8:38 pm
Thank you both for stopping by! I think it’s great that Darren has these so we can explore other blogs
Posted: July 28th, 2006 at 2:24 am
blogging,
thanks so much for describing your debt borrowing and repayment experience. I’ve only lent and it’s so important to see the other side. actually i’m considering borrowing to get a better
understanging.
your experience has been incredibly helpful.
thank you.
have a great weekend,
makingourway
Posted: July 28th, 2006 at 2:30 am
Through a Glass Darkly,
BTW, I liked the book.
Of course Prosper members are allowed to discriminate, they are making investments
on a personal basis, they are not licensed professionals.
They should have nothing to fear — then again — some prejudices might lead to social ostracism.
I do agree with James H on a few points:
1. older people are usually more responsible and have more to lose from poor credit practices.
2. credit is important – i actually try to stick with B or better.
I also disagree on certain spots:
1. home remodelling can add value to a home and facilitate resale or re-appraisal for home
refinancing.
2. people do have reasons to borrow out of their control (sickness of a family member), however, I also agree that they should demonstrate that they are responsible and will repay the loan.
There is also the opposite view – details do not matter – distribute your loans broadly and
in small amounts. The law of large numbers will pull your default rates closer and closer
to the statistical averages. It is incumbent upon you to ensure the interest rate
you lend out at incorporates and satisfies the statistal default rate.
Have a great weekend,
makingourway
Posted: July 28th, 2006 at 7:02 am
[...] Would I Want Today to be Different? by Tricia [...]
Posted: July 28th, 2006 at 9:44 am
I heard that they did it “at the urging of their fans” on TV. Yeah, right, they SO listened to their fans when they were against Napster.
Posted: July 28th, 2006 at 3:55 pm
Hi Tricia,
Your husband is kind of like mine. He feels the less he knows the less he has to worry about. Although he does the home accounts, I do the accounts for our business. What we do is about every 6 months we sit down and just go over where the money is going in both our home accounts & our business. This saves us each from having to worry over the day to day details of paying bills but gives a chance to see the overall picture. Your idea of a little book that tells him what to do is good. Just knowing what needs to be paid would be a good idea if you weren’t able to handle things for some reason. Under quickbooks there’s a reminders sections that lists out what needs to be paid & when. When I had our daughter he was able to look at this and see what needed to get paid without me having to do anything.
Good luck
Donna (from prosper)
Posted: July 28th, 2006 at 5:32 pm
I didn’t really keep up with the whole Napster thing. I didn’t even get into downloading music until iTunes came out. But I remember them being against things. I’m just glad I don’t have to buy the whole album for a few songs
Posted: July 28th, 2006 at 8:31 pm
Hi Donna!
That’s great that you and your husband split the duties. With my husband’s budding business, I will be taking care of that as well. I think for us, the manual will be the best bet. I also try to have automatic payments for the big bills like the mortgage and student loans. I figure the more automated everything is – the easier it will be for him. There is just so much information in my head that it really would be a disaster if anything happened.
Thanks for stopping by!
Posted: July 28th, 2006 at 11:31 pm
They probably figured out that they might actually make some money by doing this. People like us aren’t as likely to go out and buy whole albums, but we’ll buys songs. Hey, every $4 is better than none!
Posted: July 29th, 2006 at 12:35 am
That’s a great story. You’re right — very inspiring to the rest of us. Thanks for posting the link!
Posted: July 29th, 2006 at 6:18 am
Sorry to hear that Tricia. My condolences to you and your friend’s family.
Posted: July 29th, 2006 at 8:52 am
I know the song and know the feeling.
God is with you all and so are my prayers.
-d
Posted: July 29th, 2006 at 12:27 pm
Oh, I’m so sorry. My thoughts are with you.
Posted: July 30th, 2006 at 12:37 am
Thank you everyone. I appreciate it.
Posted: July 30th, 2006 at 2:06 pm
[...] Would I Want Today to be Different? by Tricia [...]
Posted: July 30th, 2006 at 10:39 pm
I bought things with cash left and right this weekend. It felt pretty good knowing that I could check my bank balances tonight and know that I hadn’t overspent anything.
Posted: July 30th, 2006 at 10:43 pm
[...] One such blog is http://www.bloggingawaydebt.com. The first two posts alone had me hooked, one a personal account of the loss of a friend against the backdrop of day-to-day existence and debt management (the writer seems to be doing a great job at by the way) which you can read here, and the other a post about a young entrepeneur named Farrah Gray who made his first million at just 14 – read more here. [...]
Posted: July 30th, 2006 at 10:44 pm
[...] One such blog is http://www.bloggingawaydebt.com. The first two posts alone had me hooked, one a personal account of the loss of a friend against the backdrop of day-to-day existence and debt management (the writer seems to be doing a great job at by the way) which you can read here, and the other a post about a young entrepeneur named Farrah Gray who made his first million at just 14 – read more here. [...]
Posted: July 31st, 2006 at 1:00 am
[...] My Son HasLearned the “B” Word [...]
Posted: July 31st, 2006 at 1:41 pm
Congratulations! Awesome Job. Let your wealth begin!!
Posted: July 31st, 2006 at 5:35 pm
WOW! That’s great!
Posted: July 31st, 2006 at 9:21 pm
Wow, that is nice! Congrats!
Posted: July 31st, 2006 at 11:44 pm
Thanks everyone!
Posted: August 1st, 2006 at 11:32 am
Great rewards can come from taking risks. In this case, the risk was minimal so it was a wonderful move. Good luck with the rest of the debt reduction. You are doing awesome!!!
Posted: August 1st, 2006 at 4:58 pm
I’m hoping that with the No Spend Rule in my house for the next little while I am going to be able to knock a lot of debt out of the way in the next few months. I’m going to be working like a fiend in the mean time to make that happen, but I haven’t decided what I want as a treat for when I get done with my little project.
Posted: August 1st, 2006 at 5:08 pm
I think they figured out how much money they might be losing on the whole deal. Nothing like a little revenue loss to make you rethink a sitch ya know?
Posted: August 1st, 2006 at 5:32 pm
I’m sorry for the loss of your friend. My thoughts will be with your family…
Posted: August 1st, 2006 at 5:34 pm
Let’s jam. I play guitar and piano.
Posted: August 1st, 2006 at 9:19 pm
mapgirl – it felt so good to pay with cash that I almost wanted to spend more money just to do it lol.
Financial Freak – I saw that you are doing the No Spend Rule. That sounds awesome! Good luck with that
Flexo – Come on over
I want to be in a band so bad that it literally hurts sometimes. I am so glad I bought that bass because I finally have music back in my life again.
Posted: August 1st, 2006 at 9:22 pm
Thanks Flexo. We appreciate it.
Posted: August 1st, 2006 at 9:56 pm
The words come and go. We’re lucky to PF Blog and be able to crunch the numbers, post them up and have it be a legitimate blog entry. Sometimes, it nice to put up the numbers, take a step back, think about what they mean, and then post an addendum.
Posted: August 2nd, 2006 at 8:59 pm
I saw that 20/20 story also. I had never heard of Farrah Gray. His story is inspirational to anyone throwing roadblocks and excuses in front of reaching their personal goals and dreams. The story also had an interesting but sad twist. His sister has cancer and needs a bone marrow transplant. Despite all the money he has and the means he can’t make his sister well. He even admitted as much. Money brings a lot but it does not give the rich more control than anyone else in certain situations. It makes you appreciate what you have, no matter where you are in reaching your goals.
Posted: August 2nd, 2006 at 10:31 pm
[...] Although I have been seeing my credit card debt go down, I haven’t really been adding up the numbers to make sure I am still on track to meet my goal date of May 2009. In my mind, I was just figuring that I was meeting the goal of paying $1050/month towards credit cards but I haven’t really been checking it. That’s bad of me, I know. But whenever there is a problem, you need to find a solution. [...]
Posted: August 4th, 2006 at 2:27 am
Posted: August 4th, 2006 at 12:16 pm
That’s a great tip. I normally just stock up on meat when it goes on sale. Around here, whole fryer chicken will gon on sale at $.79 a pound and I will buy 15-20 of them and freeze it. I still have a ton of them left but will buy more when they go on sale again.
Posted: August 4th, 2006 at 12:41 pm
Every one writes on tricks on how to prosper.Be introvert please and my question is to them only.
Are they properous and rich?Is the top advisor ranking among world’s properous people?Please think about yourself and reply.My mail Ad.is given.I am sure ,I will contradict or atleast able to contradict every line.
Posted: August 4th, 2006 at 3:28 pm
Hi. I was impressed with the article about you in today’s Boston Globe. One thought came to mind. In the early 1990’s Amy Dacyczyn of Leeds, Maine published a newsletter called The Tightwad Gazette. It remains the best collection of ideas about frugal living I have ever seen. All newsletter volumes were collected and published as The Complete Tightwad Gazette in 1998 by Random House ISBN: 0-375-75225-0. She addresses all the major issues–cost cutting, credit cards, dealing with peer pressure and so on. Anyone interested in this topic should try to obtain it via the public library.
Posted: August 4th, 2006 at 9:00 pm
Hi Maria, I have heard of the Tightwad Gazette but I have yet to read them. Everything I have heard is about how great they are. They are next on my “to read” list
Thanks for commenting and sharing with everyone!
Posted: August 5th, 2006 at 12:25 am
“Luck” has two distinct meanings. The first has to do with seemingly random events such as the roll of a dice or the drawing of a winning lottery ticket. In this sense there is such as thing as luck. Random walk theory suggests that randomness plays a significant part in the determination of returns on investments in individual stocks.
The second meaning is to do with good things happening such as good fortune. In this area I agree with you, life has a lot less to do with random chance than does other factors such as attitude or effort. Look at it this way, if we do not believe in ourselves and try and make things happen, they almost certainly won’t. A little belief and some effort will give us the opportunity and willingness to take advantage of what life has to offer.
Posted: August 5th, 2006 at 10:55 am
[...] There is a high expense for entertainment. That’s due to our decision to buy one thing that each of us really wanted (my bass guitar and my husband’s video game). [...]
Posted: August 5th, 2006 at 9:20 pm
After I hit “publish” I thought about gambling. Yeah, I guess that sort of falls under luck but then again you are sort of in the right place at the right time. I’m not sure I’d want to encourage opportunity here because that means “If you don’t play you can’t win” and really the odds are soooo against a player.
Thanks for commenting!
Posted: August 6th, 2006 at 9:07 am
Credit cards are always portayed as evil. I consistently make money by using my cards to buy virtually everything we use! Here are the rules:
1. Use only a card that gives cash rebates, has no fee, and does not charge interest if the balance is paid by a certain grace date. Don’t accumulate air miles or trading points; you want CASH. Discover is one that fills the bill.
2. Keep a daily running record of the balance due and include this payment in your budget. This can be set up like a checking account in your computor financial program. If you keep the receipts, you can also check your bill like you would balance a checking account. Every once in a while you will catch a double charge or a plain old error. It helps to number the receipts for reference.
3. Pay the entire balance each month!!! There can be NO slipping to cover something unexpected. Don’t EVER “borrow” from a credit card!!! Find a credit union you can join if you must have an emergency loan.
Our rebate usually comes out around $21 each month. No, it doesn’t make us rich, but it does beat the heck out of paying interest. Admittedly, if everyone did this, the card companies would close the loop quickly, but as long as there is a majority who don’t, the door is open!
Posted: August 6th, 2006 at 9:18 am
You made a lot of good points. I just started trying to get out of debt, but starting a blog is not such a bad idea. I just do not know how to do that. It would be highly appreciated if you could tell me how.
Posted: August 6th, 2006 at 9:47 am
Wow! I am very impressed – your debt reduction from end Feb thru end July has an APR over 50%.
Keep it up!
Posted: August 6th, 2006 at 10:26 am
Congratulations on the snowball of debt reduction. I don’t know if you have read Dave Ramsey’s book “Financial Peace” or “Money Make-over” but both are a great read and substantiated everything I’ve ever believed about finances. He suggest some great tools to manage money i.e. Combine your grocery and dining out budget to just one “Food” and use cash for both. That way you don’t have another July month like you did. Anyway, wanted to say there are many who support what you are doing. Keep going, it gets better.
Posted: August 6th, 2006 at 10:46 am
Dennis and Dane,
Thank you so much for stopping by and for your nice comments. I am actually pulling from a few different debt reduction methods that I have read online to tailor something that works for us. I have not had an opportunity to read about Dave Ramsey yet, but hopefully at the beginning of next year I will have some more time to read. I know there are many that follow Dave’s method and I am very curious to read what that entails.
Posted: August 6th, 2006 at 10:59 am
Thanks Fred for bringing this subject up. Using our credit cards to make a little bit of money is where I would like to be one day. But before I do, I need to make sure that I will be able to pay the balance in full each month. I do not ever want to go back to where I was in February. It is very encouraging that others are doing it and it works for them. Thank you for sharing.
Posted: August 6th, 2006 at 11:36 am
Hi Latashia,
I just wrote a post that should help you get started. You can find it here:
http://www.bloggingawaydebt.com/2006/08/in-debt-and-want-to-start-a-blog-heres-how/.
I found that blogging keeps me on track. If you do start your blog, please let me know. Support can mean so much. If you have more questions, feel free to send me an email.
Posted: August 6th, 2006 at 11:40 am
I think credit card companies do this so that you have a higher balance at the end of the introductory (low interest rate) period. Thus, they get more money eventually.
I accept these offers and rather than using the money I save for a ‘$49 vacation’, I increse my payment to a higher-interest-rate credit card that month.
Posted: August 6th, 2006 at 12:34 pm
Your willingness to share your experiences can be helpful to anybody regardless of age. As a in-front of the pack baby boomer my goals are to continue 1) to save as much as possible through retirement accounts 2) focus on reducing credit card debt and 3) begin to downsize our household. Steps to work on implementing debt-reduction strategies are made easier when one utilizes spreadsheets, online calculators etc. Your blog is a wonderful reference to those tools. Keep up the good work!
Posted: August 6th, 2006 at 1:44 pm
Act like it’s a debit account as you go along. You could even subtract the balance from your checking account daily. That way, at the end of the month, the money is in checking; it just doesn’t show. You could always keep track by remembering that your actual checking balance is the one shown PLUS the amount owed on your card.
Posted: August 6th, 2006 at 3:00 pm
If we get this whipped, I’ll explain how to buy all your cars for cash after 25 years of disciplined economics! That sounds like a long time, but the system really begins to pay off after 5 to 10 years.
Posted: August 6th, 2006 at 6:54 pm
[...] UPDATE: 7/7/06 [...]
Posted: August 6th, 2006 at 7:14 pm
Hi Tricia,
I read about your site in Scott Burn’s article today. Your site is amazing. Keep up the great work. You have inspired me to post my net worth at networthiq.com. I am under TexasYankee. Best of luck reaching your no credit card debt goal; I bet you will accomplish it before May 2009. Thanks again.
Chris
Posted: August 6th, 2006 at 7:54 pm
Excellant post for newbies
Posted: August 6th, 2006 at 8:29 pm
I’m brand new to your site and I am impressed by the detail of your spending. I am curious, where is the spending on credit cards and where is the house payment, taxes and insurance?
Thanks
Posted: August 6th, 2006 at 8:48 pm
Cool post Tricia! I think starting a blog is one of the best decisions I’ve made. Not only am afforded a chance to be accountable for my finances, I can get back to writing. I’ve sorely missed writing…
Posted: August 6th, 2006 at 10:07 pm
[...] NOTE: Since originally publishing this post, I had to update my net worth. Something I thought was a loan (and I paid) ended up being a gift. For the new net worth as of 4/30/06, please see my post here. Thanks [...]
Posted: August 6th, 2006 at 10:21 pm
That’s pretty good. Is that a combined income or yours alone?
Posted: August 6th, 2006 at 10:22 pm
Hi David, thank you for your comments. When I started listing my spending, I did include interest expense and finance charges in my expense report. I thought it would be a little confusing to see how much I spend per month and then how much I send to the credit cards (the finance charges are included there). So, I pulled them out and just basically have non-debt expenses listed. Perhaps though I should put them back. I am still working on trying to have everything listed in an easy to follow format and I appreciate the feedback. I think I will try something new for August.
As for the amount actually sent to the credit cards, I started a new thing this month where I list how much I sent to the cards. To meet my goal date of May 2009, I need to send $1050 to my cards a month. A link to July\’s info can be found under the category Meeting My Goal.
I have not paid taxes or insurance on my home yet this year. Taxes and insurance will show up for August. Taxes currently run around $600/year and my insurance is around $200/year.
I do really need to try to put everything in one spot and figure out how to report it better. Most of the information is here – just scattered around.
Thank you again for your comments!
If anyone has any suggestions on how I can report everything, please let me know. Thanks
Posted: August 6th, 2006 at 11:40 pm
Hi Tim. It’s a combined income for my husband and I. We both work full-time and I additionally work two part-time jobs. At the end of the year, the two part-time jobs will phase out for me.
Posted: August 6th, 2006 at 11:47 pm
Chris – wow, I am flattered I inspired you. I checked out your profile and you’ve added over $6,000 to your net worth since January. That’s awesome!!
~Dawn & Freedumb – thanks for the compliments. Kira did such a good job of explaining almost everything so I just added a few things from my experience. As for writing, I can definitely see that you enjoy it Freedumb. That’s why I often visit
Posted: August 7th, 2006 at 12:04 am
I love being part of NCN’s Network too. I was definitely able to stay on track with his reminder emails. Now that I have an automatic savings plan too, I can regularly update him with my savings progress. (Of course now I have changed it to a debt reduction plan!)
Posted: August 7th, 2006 at 8:56 am
[...] Banking Have you considered using Prosper, the “online marketplace for people-to-people lending”? Then you may be interested in this interview at Blogging Away Debt in which Tricia interviews another blogger about Prosper. You can learn a bit about how the service works, and read some first-hand experience with it. [...]
Posted: August 7th, 2006 at 9:16 am
I did exactly the same thing recently. I actually was learning about creating websites for an education website idea I have, and, realized that what I’ve been doing lately — fixing up the family finances, is really what I want to write about. I use a Mac, it took me four tries at website programs before I found the one I like, Sandvox, and I got the website up. I’m being hosted by “itsamac” because I called them to ask a bunch of questions and they answered them all so nicely and are just generally helpful. So, I signed up with them. I’m having trouble with getting my site indexed with any of the search engines — but, I guess that will just take time. (I had the idea, wrongly, that indexing was about content — stupid me). I’m so pleased to find that there are so many people out there who are doing, or attempting to do, what we are — it doesn’t feel like a waste of time. All of work so far has been work, but, I do believe that my family will have a better financial future as a result of it. So, good for you (and me too, I hope).
Posted: August 7th, 2006 at 11:37 am
I really need some help–where do I begin
57 years old
single parent
3 sons–2 in college
2nd year high school teacher (new career)
$28,000 credit card debt
no mortgage no car pymt
Posted: August 7th, 2006 at 12:43 pm
You should also keep a watch on your recreation spending…
Posted: August 7th, 2006 at 1:44 pm
Quit smoking. True you don’t spend a lot on cigarettes however it may cost you more in health cost later on.
Posted: August 7th, 2006 at 1:47 pm
PS. The money you save in cigarettes will pay for your $200 insurance.
Jack
Posted: August 7th, 2006 at 1:49 pm
[...] Can you reduce debt by blogging? Tricia at Blogging Away Debt thinks so. In Debt and Want to Start a Blog? Here’s How.. [...]
Posted: August 7th, 2006 at 2:32 pm
You have my admiration – Good Job! I would like to “vent” a bit – about what I perceive to be other people trying to get their hands on my money. I’m talking about dentists, homeowner’s associations, mortgage companies, and anyone else who tries to intimidate me into giving them more of my money. Do you know what I’m talking about? Possibly it’s because I’m in my mid-50’s (but don’t look like it) and they assume I’ve got more disposable income? Or they just think I’ll blindly go along with their suggestion to part me with more of my hard earned dollars. It’s the dentist who starts questioning my silver crowns – “how long have you had those? Those look like temporary crowns. You should think about having those re-done.” Translation – no one has silver crowns anymore and I need a new boat/motorhome/summer house.” Or the mortgage co. that buys my mortgage and decides my escrow account has a “deficit” and raises my payment $100/month to provide them with an $800 “cushion”. Translation – they want to hold $1000 extra of MY money each year, interest free because….well, because they can. You get the picture. I resent the fact that when I don’t get sucked in, I am treated like some kind of freak. The road to becoming debt-free is full of emotionally charged issues, I’m finding.
Posted: August 7th, 2006 at 2:45 pm
Yes, buying the store brands can definitely be a money saver.
I always give the store brand a chance first. Store brand diet sodas are terrible, but their cereals are just fine. Same with milk, cheese, detergent, canned foods, etc. In many cases, the product is also manufactured by a big name company, just rebranded.
Posted: August 7th, 2006 at 7:36 pm
[...] I learned something new with the article, How to Get an Incorrect Medical Bill Corrected. I’ve discussed before how you really need to watch hospitals because they often overcharge. If you can’t solve the problem yourself, the end of the article gives a very interesting avenue for help (a senator’s office!). Great info. [...]
Posted: August 7th, 2006 at 8:08 pm
mapgirl – you did awesome with the savings and I’m looking forward to seeing your debt reduction now
Donna – it feels wonderful to write something you feel passionate about. I am actually a VERY slow writer but I enjoy doing this so much.
Posted: August 7th, 2006 at 8:13 pm
Karen – feel free to vent, that’s the beauty of blogs!
I have never had anyone treat me like that yet and I am actually treated the opposite. Salespeople tend to not answer our questions like they do some other people. Probably because of our appearance. We all wear very plain clothes and I wonder if they think we will not purchase things. I’m not sure how I would react to the opposite but I’m thinking it would upset me to constantly have people trying to upsell things to me.
Kevin – oh, yes…I agree. Store brand diet sodas are the worst! I haven’t tried them in so long I forgot that point! But other kinds like generic 7-up taste pretty good. I think it helps too if you grew up eating generic which I did and my husband didn’t. He wants the Kraft mac & cheese and I want the generic.
Posted: August 7th, 2006 at 8:19 pm
Cherisa – the recreation was a bit high in May. We decided to buy two inflatable kayaks to go boating with. Your comment brings up a good point – I should have a year to date column because the May spending was the first time this year we’ve spent money in recreation.
Jack – You’ve been talking to my mom – LOL. Smoking is something I have done for too long and I do want to quit. I just am having a hard time getting in the frame of mind to make it happen. I can get in the frame of mind to reduce our debt but smoking is a different story. I have to figure out why and then tackle it head on. As for the health affects – I can already feel them and I’m not even 30 yet. Thank you for being so frank and honest with me. I appreciate it
Posted: August 7th, 2006 at 8:27 pm
You know Fred, that’s a pretty good idea with keeping track of the credit card spending within the checking account. I think I will have to see if I can whip up a method to do this in Quicken and post it on my other blog. Hmmm…
Posted: August 7th, 2006 at 8:31 pm
Robert – wow, thank you!
Kathleen – you’ve already done the first step which is realizing that you want and need to do something about your situation and that’s great! I am going to write a post about what I did to get going on getting rid of the credit card debt so please stay tuned. One thing though, you always should do what is best for you and your situation. Personal finance is so interesting because I don’t think any two situations are exactly the same.
Posted: August 8th, 2006 at 10:35 am
Thanks for the link love Tricia!
Posted: August 8th, 2006 at 11:46 am
I read about your blog in Scott Burns’ column in the Houston Chronicle. Kudos to you for having a plan to get out of debt. It’s called a “sinking fund” in which one dedicates a portion of their wages to lower the balance month by month and not feed it with needless charges.
I’m saddened by the shameless tactics used by banks to entrap college students into signing up for credit cards when they are registering for classes. They use “Sign up for our credit card and get a (college) miniature basketball” or some come-on like that. So guess what? The kid takes the credit card, maxes it out in no time flat and is $10 G’s in debt. And then the bank might increase the credit limit, trapping the kid in financial quicksand and they’re not even 20 years old.
I’m also dismayed that our society likes to buy “stuff” and keep factories open in China 24/7. I believe the term is “conspicuous consumption.” I strongly recommend that people read Stanley and Danko, “The Millionaire Next Door” (buy a used copy on eBay) in which we learn that most of the country’s 8 million millionaires prefer demos or used cars, live in the same modest-size house and pay it off as quickly as possible, wear cheap wristwatches instead of a Cartier or Rolex, buy one really good suit and wear it to death and invest heavily in the children’s education.
When people flash open their wallets in the checkout line to show all the credit cards, I feel sorry for them. They seem to have some uncontrollable mental illness.
Posted: August 8th, 2006 at 12:51 pm
Tricia- my mom gave me the Burns article and I am so excited! My husband and I make just over 100,000 a year and are in debt that is ridiculous. We make enough that we shouldn’t have this debt, but we have been careless. I am so thankful that my mom gave me the article because I am going to read everything and commit to cleaning up our debt. Thanks to you I am going to change our lives for the better and for our family.
Posted: August 8th, 2006 at 2:08 pm
I just found your site, and I am enjoying it. Does anyone out there know of a prepaid credit card? I have not used credit cards in years, but I now have to travel for work and a credit card is required by our Travel Services and when I check in at hotels. I will pay a small fee, but my research has not produced a low-fee prepaid credit card.
Thanks.
Posted: August 8th, 2006 at 3:56 pm
I agree with you. There is however an important difference to consider beyond the taste : the ingredients. We shop for generic brands, but pay extra attention to i.e. sodium content. I’ve found that the cheaper and generic brans are higher in sodium or tend to have more corn sirup, etc. So the trick is to find generic products, without given up quality. Products under the Trader Joe’s label typically fit that bill, or even the 356 brand from Whole Foods. Many 356 brand products at (the expensive) Whole Foods, are cheaper in price and have great quality than a brand name at Safeway or Albertson.
Posted: August 8th, 2006 at 4:21 pm
Thanks for the added publicity!
Posted: August 8th, 2006 at 8:24 pm
I read Scott Burns article today and I have a question: Do you live in the UP and where? My wife was stationed in Marquette years ago and we love it there. Congratulations on your productive way to live debt free!
Posted: August 8th, 2006 at 9:17 pm
Hi Joane,
I am not aware of any prepaid cards but I believe I have heard of them before. I have posted your question at the MBN Forums. I am sure one of the members over there will know. I will report back here with what they say.
Posted: August 8th, 2006 at 9:58 pm
You are welcome
Posted: August 8th, 2006 at 9:59 pm
Jan – thank you for bringing up that point! I have never thought to compare ingredients. I am going to take a look next time we go grocery shopping.
Posted: August 8th, 2006 at 10:02 pm
Cynthia – wow, I’m not sure if you realize how wonderful your comment makes me feel. I am so glad that you are ready to commit to becoming debt-free and it sounds like you have the “spark” to make it happen. Do let me know how you are doing, okay? I’d love to offer support because it is so important to have. All the best on your journey!!
Posted: August 8th, 2006 at 10:07 pm
Hi Gary – you described how I started with my debt perfectly. Since blogging, another person I went to college with told me that she signed up for a card at the same table (different year). They are always there and always right outside the freshman hall of a required class for all students.
I have read the Millionaire Next Door and it really made me think. I had no idea how a millionaire really lived and I think everyone in debt should read it. It really sunk in the fact that one needs to spend less than they earn and that’s what millionaires do.
Thanks for commenting
Posted: August 8th, 2006 at 9:57 pm
Hi Tony & Kate,
Yes, I do live in the UP. We love it here too, and that’s why we stay living here. It’s just a beautful place to raise our son and we love the slower pace of life. We left for a little bit and came right back. We love the lake
Posted: August 9th, 2006 at 12:50 pm
[...] So really…peace of mind for traveling is all that we have it for. I guess it could come in handy in case my engine goes kaput in lieu of my car’s recent recall (which I still haven’t received official notice for). [...]
Posted: August 9th, 2006 at 2:08 pm
I personally like the AAA service, even though I rarely use the towing. I think in the 10 years I’ve had it, I’ve used the towing once and the lockout services twice.
I like the travel services they provide, the many discounts, and the free guidebooks and maps. I also like the discounts and quality service when you go with AAA approved auto service shops. Peace of mind is nice to have too. They also have a good auto buying discount program if you are buying a new car.
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