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February Net Worth Coming Soon


I was hoping to have my Net Worth up by now for February so everyone can see the change, but I just haven’t had the time. After seeing how many hours I worked last week (63), I can see why. My goal is to have it up for this weekend and I am almost done. I just have to reconcile two more credit cards.

If someone figures out how to get more hours in the day – let me know, ok? πŸ˜‰ LOL

Technorati Tags: net+worth

What Would You Do With 20 Dollars?


So many times I’ve been asked, “What would you do with a million dollars?” I pretty much say the same thing every time. My number one thing – pay off debt!! Then, I would give to my family and to charity. I’d also invest, but if you asked me to be more specific, I couldn’t. I’ve been too focused on using extra funds to pay off debt, that I wouldn’t know the first thing to do.

But let’s put a little twist on it…

What would you do with 20 dollars?

I’ll start. First thing I’d do is rent two $0.99 DVDs (one for my son, one for mom and dad), and then put the rest into our checking account to go towards bills/debt.

Not very exciting – but a true story since it has happened before.

What about you?

Boy, Is My Face Red!!


I just noticed that I had comments!! Sorry to those that have had comments from a while ago waiting for approval.

I’ve just started using the Movable Type blogging program, and for some reason I thought it would email me when I had comments on my blog (like blogger does for my other two blogs). Maybe I just don’t have it set up correctly. I will have to look into the matter further.

I am happy to report, that I have went through the comments and approved them. Everyone has some great blogs out there and thank you for sharing!

Here’s to all of us becoming debt-free one day, hopefully very soon!!


Introducing – Credit Card #6


Yes, you read that right. Add another credit card to the collection. It wasn’t something that I was meaning to do, but it just happened.

We went out yesterday to get a stove. I had some extra money from working quite a few overtime hours and we were planning on buying the stove just from the money we have (it would have been the first appliance we’ve purchased without using credit). It turns out that the store had a great deal with their store credit card. If you signed up for it and paid for your purchase with it, you would get free delivery of your appliance as well as 10% off. That was a savings of $105 dollars. AND, you purchase is interest-free for a year.

I carefully looked over the fine print, and it states that the interest rate after the interest rate period is a whopping 23.5%!! So, this card will definitely need to be paid off before next year. That is where these cards get their money is in the very high interest rate. And they get you to apply for the cards with their great deals.

Approval for the card was almost instant (geesh – it is so easy to get a store credit card!), especially with my debt load. I didn’t like getting yet another card, but if credit is used responsibly it can be a good thing. The key word being responsibly.

Another advantage of getting the interest free card is now I am able to put the money that was going to purchase the stove and put it towards paying down a higher interest credit card. Then, I will have less in finance charges to pay. I think much to do with paying off debt is how to juggle it.

I am really hoping this decision won’t come back and bite me. Time will tell.

Technorati Tags: credit+card, credit, interest+rate

Teaching Personal Finance in Schools


When I went to high school, there were no classes offered on personal finance. There wasn’t even a class that touched on the subject. But I sure wish there was!

I think schools now-a-days are too concerned about “book smarts” and less concerned about “street smarts”. You know, tools on how to live your life. I think back and feel it would have been much more beneficial to my present day life if we had discussions about how to handle your money.

I’m not placing blame on my high school for my debt. I will honestly admit that I got myself into it. But it would be nice to see a shift to some coursework that will help you live your life once you leave high school. I think that would do wonders once for teens once they hit the “real” world.

Technorati Tags: debt, personal+finance

Calling Credit Cards To Reduce Your Rate


I decided today to start small and I called Credit Card #3 to see if I could negotiate a lower balance. Currently, the interest rate on the card is 16.47% and my balance is $900. I figured I had a good chance of lowering the rate on this card.

Here’s how the telephone call went (not word for word, but you’ll get the idea):

Me: I noticed on my statement that my interest rate is 16.47%. I’m calling to see if I can get that lowered.

Operator: Sure mam, I would be happy to take a look into that for you. Just give me a moment to look over your account.

Me: Okay (cool – sounds like I am getting somewhere).

Operator: Sorry mam, but you do not have a lower rate available to you at this time. However, you do have another program that you may be interested in where you can defer your payments … BLAH BLAH BLAH (selling a program that you have to pay into).

Me: No thank you, I am not interested. I will be paying off this card now (which – I am not bluffing after hearing that they won’t lower my rate). What do I need to do to cancel my card (trying to get him to say, “no wait a minute” and offer me a lower rate)?

Operator: I can do that for you right now mam. (WHAT??? The call isn’t supposed to go like that?? At that point I am flabbergastered that they don’t care about my business – which I have NEVER paid late to this company).

Me: I can’t do it yet, I have automatic payments coming out right now that I need to cancel. But when that is done I just call back?

Operator: Yes.

Me: Okay. I will do that then (giving him ONE last chance to change his mind).

Me: Thank you very much. Goodbye.

I’ve read so many times to call the companies and you can negotiate a lower rate. Why didn’t it work here? Are they getting more gutsy and not buying into people calling and doing that? Or maybe because I only have $900 on the card I don’t matter to them.

It makes you wonder. I’m tempted to call again tomorrow and ask to speak to the manager. You know what – I am going to call again. This area needs to be explored more

UPDATE: 3/31/07 – I didn’t end up calling again. I ended up paying off the card πŸ™‚

Technorati Tags: credit+card, credit

Congratulations – Your Credit Line has Increased


Up until not to long ago, all of my cards were nearly maxed out, so there was no hope of doing balance transfers. Then I had to make a few purchases on Credit Card #4 (which had a zero balance for almost 2 years) and I get a letter in the mail letting me know that my credit limit has been increased by an additional $10,000.

10 GRAND!! Can you believe that?? With all the debt I am in??

Sure, it’s good news because I can do a balance transfer now and perhaps get some of my debt at a lower interest rate. But I can’t believe they did that. It furthers my theory that credit card companies do not look at your income whatsoever. They have certain triggers that go off in their system that says, “hmmm…I think if we give them a higher credit limit – they’ll spend more.”

They are right, I do plan on using the card now for a balance transfer. It is just a matter of deciding what debts I would like to transfer over. Within the next few days I will list the specifics on each loan (rates and such) and figure out the game plan.

I also have another trick up my sleeve that I plan on trying in the next few days to see if it works. I will keep everyone posted.

Technorati Tags: credit+card, balance+transfer