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Posts tagged with: debt

Need to grow a back bone!

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Everyone now knows how we’re trying to cut back on eating out (we went over budget in this category last month – budgeted $75 but spent $110). So when a friend suggested we meet for lunch, I told her I was trying to cut back eating-out and we decided to go to the mall instead. She had something she needed to buy and I am absolutely fine with window-shopping (shopping is not a weakness of mine).

So we walked around chatting and catching up a little and one of the stores she wanted to go to was Express. When we got there, she pulled 2 coupons out of her purse for a free $15 (no minimum purchase, but non-sale items only). She handed one to me and said to use it because it was a free $15 that would go to waste. I said, “no thanks” but she insisted.

I wanted to find something less than $15 because I could just get it for free (the coupon allowed this). So I’m walking around the store and looking at price tags and everything is WAY more than $15. I guess it’s been awhile since I’ve been but everything just seemed so much more expensive than I remember!?! Shirts and tanks were way more than $15 and even all the costume jewelry was too expensive (I’m talking, $30+). There was literally not a single non-sale item in the store for $15 or less. So finally I find a pair of tights that cost $20 (I would get $15 off and still have to pay an additional $5).

I’m standing in line thinking how I don’t want to spend this money, and I don’t care about the stupid tights, and how did I get in this situation? I’m thinking about how annoying its going to be when I have to come back to the mall and return these tights because – for some reason – I suddenly have no backbone and can’t just put the tights down and say, “NO!”

And we get to the cash register. And it turns out the tights were on-sale so the coupon couldn’t be used.

I was SOOOO thankful because it gave me the excuse to just walk away! I turned to my friend, handed back the coupon, and said I hadn’t even really cared about the tights anyway.

How ridiculous is this? I was literally planning out when I would have time to come back to the mall to return these tights while I was standing in line waiting to buy them!!! What’s wrong with me!!!


Jim’s Monthly Debt Ski Trip

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Well here we are in March, and like many people pointed out, I am a little clueless about lots of things, and that I could have prevented many things. I did make the choice to not go back to work. Do I regret it, to be honest most days I do not. I see my boy growing, and once he goes to school maybe I would go back to the rat race. Probably not, I have a entrepreneur spirit, I like to work for myself. Yes even if it makes me far less money. But I could scale it up, if I devoted more time to it.

What many of you don’t realize is that… At this time last year I had three store credit cards, one jewelry card, three credit cards, two personal loans, one furniture loan, and one car payment. I paid roughly 12,000 in debt since the beginning of my journey. I do call that quite the accomplishment, considering how much income we bring home.

Rent Electric Oil Verizon Auto/Renter Ins.
January 2014 $600 $105.44 $1019.79 $76.35 $369.28
February 2014 $600 $84.46 $388.90 $76.59 $134.52
March 2014 $600 $89.10 $358.90 $76.54 $118.48
April 2014 $600 $109.67 $ $76.54 $126.50

Now these aren’t paid yet, but I do have all information, so I might as well put up the information. Considering the weather, I wouldn’t be surprised if there is another oil payment that will be made this month as well.

Now unto the credit!

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APR Current Amount Last Month Percentage of Change
Store Card #1 24.99% $80.40 $203.18 60.48%
Store Card #2 22.9% $442.44 $532.55 19.97%
Credit Card #1 13.99% $3234.59 $3279.37 13.99%
Personal Loan 15.5% $1626.38 $1725.63 5.75%
Car Loan #1 10.19% $1725.63
Car Loan #2 12.99% $17914.69

So there you have it.  So what should my next move be?  People suggested that I immediately start my emergency fund.  Is that what the consensus thinks?