I was working on our budgets for the next few months tonight, and the more I look, the more I can't seem to figure out how in the world we are possibly going to be able to meet the February 22nd goal of having the car paid off. I think we're still going to be a good $4000 shy. The reason for this is part of the money from Jonny's final semester of student loans that we were going to throw at it, we've had to decide to set aside in a savings account for him to take the Becker CPA prep courses, and exams later in the year. At first we were going to try to set a monthly sinking fund account to cover those expenses, but we need such a large bulk of money to pay when he registers, there's really no way for us to do a sinking funds account and make the amount of money we'll need on time for him to register.
Additionally, our regular monthly income is going to be decreasing due to the change in Jonny's GIBill status for his final semester in school. That's at least $400 less per month that he's going to be bringing in, than before...
He's going to try to get picked up by a tax firm for the upcoming tax season again this year. Hopefully, he'll be with a more recognized company and will be more successful this year than last.
I'm just down in the dumps. I got great news on the work front today....I wish my personal success would spill over to him. It's only a matter of time. One day he's going to be soo successful. I'm just tired of the hurry up and wait. It's been 2 years since we made this transition. TWO YEARS. Hey Obama, where are those damn jobs you promised us? My husband needs one, thanks. I'm irritated with myself because I won't allow myself to be excited about the progress we have made because I'm mad at the road blocks still in our way.
I shouldn't be this upset. Our original debt free date when we started was November 2013. Even if it's May or June before we're done, we'll still have cut that time in half. Why cant I just shut up and be okay with that?
I'm tired of being in debt. I'm tired of struggling. I am scared of what next summer and beyond is going to look like, if he's not working full time and the car is not paid off. I NEED that car to be paid off. At least with it paid off, my paycheck will cover all of our other regular monthly expenses. No, I wont be able to pay student loans when they come out of deferment, and heaven forbid, I have to turn around and ask for a hardship deferral, but I don't see any other way around it. I feel like we've worked so hard and come SO far, only to be running into a brick wall again, and it SUCKS.
Tuesday, November 16, 2010
Thursday, November 11, 2010
The National Debt
After watching this 30 minute version of the documentary I.O.U.S.A., my ~100K in student loans doesn't seem so bad...
What I didn't expect, being the conservative Republican that I am, is to feel such a disgust at GWBush... I'm a very graphically minded individual, and the charts this documentary showed made me cry out in disgust as I watched it. Our amazing country, which borrowed only when necessary for war, and turned around and paid it right back, got stupidly addicted to debt....and individual Americans followed suit.
I didn't realize until watching this video how the Bush administration's cut of interest rates, which lead to stupid folks buying houses they couldn't afford, and the tax cuts, which were TOO aggressive - so aggressive that it DIDN'T actually result in a higher income, had the astronomical effect that it did....
I've been a long time Bush supporter, so this video shed some light that certainly bruises that support. While I don't believe he is to blame for everything that is currently wrong...the consequences we are suffering as a nation now, because of practices enforced during his term, are sickening.
According to the documentary, by 2040, our debts projected to be 244% of the GDP....completely unacceptable.
I'm too disgusted to write anymore.... I strongly recommend you watch this video.
What I didn't expect, being the conservative Republican that I am, is to feel such a disgust at GWBush... I'm a very graphically minded individual, and the charts this documentary showed made me cry out in disgust as I watched it. Our amazing country, which borrowed only when necessary for war, and turned around and paid it right back, got stupidly addicted to debt....and individual Americans followed suit.
I didn't realize until watching this video how the Bush administration's cut of interest rates, which lead to stupid folks buying houses they couldn't afford, and the tax cuts, which were TOO aggressive - so aggressive that it DIDN'T actually result in a higher income, had the astronomical effect that it did....
I've been a long time Bush supporter, so this video shed some light that certainly bruises that support. While I don't believe he is to blame for everything that is currently wrong...the consequences we are suffering as a nation now, because of practices enforced during his term, are sickening.
According to the documentary, by 2040, our debts projected to be 244% of the GDP....completely unacceptable.
I'm too disgusted to write anymore.... I strongly recommend you watch this video.
Tuesday, September 28, 2010
Christmas Shopping....have you started? Here's an idea that may help.
I learned of another cool way to save money that you all may be interested in: Discount Gift Cards.
www.PlasticJungle.com
www.CardPool.com
www.GiftCardRescue.com
From these websites, you can "sell" unwanted giftcards and buy new ones at a discount. Many people sell/trade in their store credits. There are a LOT of well name merchants on here, so if you know you're going to be doing alot of shopping at places like Kohls, or Old Navy, Home Depot, etc, you may want to buy a discounted gift card before making your purchase.
I havent been able to find grocery gift cards yet, but if I ever do, it's alllllll over :)
Check it out....
www.PlasticJungle.com
www.CardPool.com
www.GiftCardRescue.com
From these websites, you can "sell" unwanted giftcards and buy new ones at a discount. Many people sell/trade in their store credits. There are a LOT of well name merchants on here, so if you know you're going to be doing alot of shopping at places like Kohls, or Old Navy, Home Depot, etc, you may want to buy a discounted gift card before making your purchase.
I havent been able to find grocery gift cards yet, but if I ever do, it's alllllll over :)
Check it out....
Saturday, September 18, 2010
Another way to save money on groceries....
Cook with ingredients you already have in your house. Novel concept, eh? Even if you think you dont have very many ingredients to work with, www.supercook.com begs to differ.
All you have to do is create an account, and you can enter in the items you already have in your kitchen. Remember EVERYTHING. The site will pull up a list of starters, entrees and desserts based on what you enter. It will also list recipes you can cook if you are willing to go out and buy just a few extra things.
I found this link on the DR message boards, so decided to give it a shot. I'm tired of making the same old thing week after week, so maybe this will help me save money and try something new at the same time..
All you have to do is create an account, and you can enter in the items you already have in your kitchen. Remember EVERYTHING. The site will pull up a list of starters, entrees and desserts based on what you enter. It will also list recipes you can cook if you are willing to go out and buy just a few extra things.
I found this link on the DR message boards, so decided to give it a shot. I'm tired of making the same old thing week after week, so maybe this will help me save money and try something new at the same time..
Monday, August 30, 2010
Responsibility
Even though Jonny and I ended up with a messload of debt before we figured out how to take control of it, I can honestly say that unlike some people, we never EVER attempted to get out of our moral obligations for things we had purchased using credit. NEVER. Even when his scum of an ex-girlfriend allowed a car he co-signed on to be repossessed, we paid the $900 or so that was left after it had been auctioned. Granted, if we had the DR knowledge back then, we probably could have settled for less, but now we know better.
This is why it makes me ILL when I hear stories of people who let their homes go to foreclosure, filing bankruptcy, or just going to collections because the bill is not important enough to pay. Now I realize that extenuating circumstances is one thing, but stories like the post I made several months ago about people who stopped paying their mortgage so they could start eating out and driving their boat on the lake again, is another.
There are people I know who never paid outstanding tuition, or they filed bankruptcy because they racked debt up and got in over their head. Rather than being responsible and hunkering down to get it done, they begged the government to forgive their stupidity. What irritates me even more, is many of those same individuals go right back to their old habits once they have a clean slate, and they do it all over again. They start using credit again because it's EASY. And the people who tell me I'm a freak because I'm working my butt off to reach that ultimate level of financial peace. Yeah, you may never understand what it's like to pay cash for something that you appreciate much more because you worked for it, rather than getting selfish instant gratification on credit, even though it ends up costing you more later because you're paying interest on your card.
After a year and a half, I cannot imagine life as it used to be. I cannot imagine using credit cards to buy dinner, or a pedicure, or a movie, or a music CD. I cannot imagine a $400 clothes shopping spree just because I'm "bored." I cannot imagine going to the tanning bed to pass time between classes. I can't imagine wondering around Target aimlessly for no reason, throwing things in my cart just because.
My life has been forever changed. Even when we're out of debt, I think alot of things I used to pay for on stupid tax, will not be able to be justified to pay the price. Yes...the point of financial peace is to be able to buy what you want, when you want, and not worry about it....but what I'm trying to say is that things that were previously important to me when I was being stupid is no longer important. The things that are important now is retirement, a paid for education, paying cash for a car, paying cash for furniture, paying CASH for major home repairs, paying cash for vacations and experiences, and that vacation not following me home on a credit card.
CDs, clothes, and tanning beds are no longer important.
I just bought a brand new set of pots and pans through pampered chef. I got a deal on them because I bought them through hosting a party. Sure, those kinds of things are overpriced to begin with, so that you will host a party, and bring in more orders....I get it, and I'll play the game. Yes, they were still expensive, but the quality is much better than any crap I could have gotten at WalMart or Bed Bath and Beyond. It was emotionally painful to write the check to pay for it, because it was alot of money. However, I thought long and hard about which items I purchased...which items were important now, and which items could wait. Had I been buying it on credit, I wouldn't have had that tough conversation with myself about what was important now and what I could afford now...I would have just bought it all.
Getting a "Get out of jail free" card and a clean slate does not equal financial peace. Paying off debt that is legitimately yours and changing your attitude to determine whats important versus what isn't, does.
This is why it makes me ILL when I hear stories of people who let their homes go to foreclosure, filing bankruptcy, or just going to collections because the bill is not important enough to pay. Now I realize that extenuating circumstances is one thing, but stories like the post I made several months ago about people who stopped paying their mortgage so they could start eating out and driving their boat on the lake again, is another.
There are people I know who never paid outstanding tuition, or they filed bankruptcy because they racked debt up and got in over their head. Rather than being responsible and hunkering down to get it done, they begged the government to forgive their stupidity. What irritates me even more, is many of those same individuals go right back to their old habits once they have a clean slate, and they do it all over again. They start using credit again because it's EASY. And the people who tell me I'm a freak because I'm working my butt off to reach that ultimate level of financial peace. Yeah, you may never understand what it's like to pay cash for something that you appreciate much more because you worked for it, rather than getting selfish instant gratification on credit, even though it ends up costing you more later because you're paying interest on your card.
After a year and a half, I cannot imagine life as it used to be. I cannot imagine using credit cards to buy dinner, or a pedicure, or a movie, or a music CD. I cannot imagine a $400 clothes shopping spree just because I'm "bored." I cannot imagine going to the tanning bed to pass time between classes. I can't imagine wondering around Target aimlessly for no reason, throwing things in my cart just because.
My life has been forever changed. Even when we're out of debt, I think alot of things I used to pay for on stupid tax, will not be able to be justified to pay the price. Yes...the point of financial peace is to be able to buy what you want, when you want, and not worry about it....but what I'm trying to say is that things that were previously important to me when I was being stupid is no longer important. The things that are important now is retirement, a paid for education, paying cash for a car, paying cash for furniture, paying CASH for major home repairs, paying cash for vacations and experiences, and that vacation not following me home on a credit card.
CDs, clothes, and tanning beds are no longer important.
I just bought a brand new set of pots and pans through pampered chef. I got a deal on them because I bought them through hosting a party. Sure, those kinds of things are overpriced to begin with, so that you will host a party, and bring in more orders....I get it, and I'll play the game. Yes, they were still expensive, but the quality is much better than any crap I could have gotten at WalMart or Bed Bath and Beyond. It was emotionally painful to write the check to pay for it, because it was alot of money. However, I thought long and hard about which items I purchased...which items were important now, and which items could wait. Had I been buying it on credit, I wouldn't have had that tough conversation with myself about what was important now and what I could afford now...I would have just bought it all.
Getting a "Get out of jail free" card and a clean slate does not equal financial peace. Paying off debt that is legitimately yours and changing your attitude to determine whats important versus what isn't, does.
Saturday, August 28, 2010
Only 4 Digits....EXCITING!
$9,984.46. That's the amount that is left to pay on Jonny's car. The consolidation loan at $320 a month has been paid in FULL!
If we continued to pay only the minimum payment on the car, it would be December 2013 before it got paid off. This is completely unacceptable, and we are going to snowball this amount by as much as we can. Christmas doesn't look like it's going to happen....so our modified new goal is February 22,2011 - our 2 year FPU-aversary.
I'm not going to lie - that is going to be HARD to do...because of the house situation, our sinking funds account got raided, and some of those bills are going to be due before too much longer. I actually need to reconfigure our sinking funds accounts, but I just haven't been able to do that just yet.
I'm still not quite certain on our new monthly budget with the new house, and utility expenses, but here's a best guess so far:
--------Charity--------
Church 330
AXiD 10
--------Housing--------
Mortgage/Tax/Ins 613.76
--------Utilities--------
ADT Security 28.99
AT&T Land Phone 35
Water 50
Trash Collection 16.95
Cooks Pest Control 37
Alabama Power 175
Cable TV/Internet 85
Sprint Cell Phone 143
--------Food--------
Food & Household 400
--------Transportation--------
Gas & Oil 350
--------Personal--------
A Blow 200
J Blow 200
--------Debts--------
Car 276.11
Disclaimer: The totals do not list our entire monthly income, and this budget is not $0 based....I still have extra to spend, but if I don't find somewhere else that I need it, it will be snowballed to the car. I've also left out paycheck allotments to our savings account and sinking fund accounts which fund our life insurance, car insurance and tags, and home repair expenses.
We're more than 3/4 done!!!! Only 4 digits left in our non student loan/mortgage debt. Jonny's working hard to find a full time, or a better part time job/internship with a CPA firm this fall. Please keep him in your prayers. His military benefits income will go away once he graduates, and so we'll need to be able to replace that income with a job in order to start paying on the student loans at that time.... I'm slightly stressed about repaying the student loans, but not as bad as I would be if I still had all this other consumer debt...so for that, I'm grateful.
If we continued to pay only the minimum payment on the car, it would be December 2013 before it got paid off. This is completely unacceptable, and we are going to snowball this amount by as much as we can. Christmas doesn't look like it's going to happen....so our modified new goal is February 22,2011 - our 2 year FPU-aversary.
I'm not going to lie - that is going to be HARD to do...because of the house situation, our sinking funds account got raided, and some of those bills are going to be due before too much longer. I actually need to reconfigure our sinking funds accounts, but I just haven't been able to do that just yet.
I'm still not quite certain on our new monthly budget with the new house, and utility expenses, but here's a best guess so far:
--------Charity--------
Church 330
AXiD 10
--------Housing--------
Mortgage/Tax/Ins 613.76
--------Utilities--------
ADT Security 28.99
AT&T Land Phone 35
Water 50
Trash Collection 16.95
Cooks Pest Control 37
Alabama Power 175
Cable TV/Internet 85
Sprint Cell Phone 143
--------Food--------
Food & Household 400
--------Transportation--------
Gas & Oil 350
--------Personal--------
A Blow 200
J Blow 200
--------Debts--------
Car 276.11
Disclaimer: The totals do not list our entire monthly income, and this budget is not $0 based....I still have extra to spend, but if I don't find somewhere else that I need it, it will be snowballed to the car. I've also left out paycheck allotments to our savings account and sinking fund accounts which fund our life insurance, car insurance and tags, and home repair expenses.
We're more than 3/4 done!!!! Only 4 digits left in our non student loan/mortgage debt. Jonny's working hard to find a full time, or a better part time job/internship with a CPA firm this fall. Please keep him in your prayers. His military benefits income will go away once he graduates, and so we'll need to be able to replace that income with a job in order to start paying on the student loans at that time.... I'm slightly stressed about repaying the student loans, but not as bad as I would be if I still had all this other consumer debt...so for that, I'm grateful.
Wednesday, August 25, 2010
Dear Chase....
Dear Chase,
Please issue a refund for the credit balance on my account.
Also, please close my account effective immediately. I no longer use credit cards and do not wish to keep it open.
Now that I have moved into a house, I no longer care what my FICO score looks like, so please don t try to change my mind. If you need to list a reason for account cancellation, you can put Dave Ramsey.
Thank you!
Sincerely,
Jonathan Hicks
*************
Dear Jonathan Hicks,
I sincerely regret that you have chosen to close your account ending in 9771.
I have closed your account as requested. Also, a refund check for the credit balance will be mailed to the address
listed on your account and should be received by September 13, 2010.
Please destroy all cards and checks associated with this account. Remember to contact any merchants with whom you have authorized recurring charges to this account and make alternate arrangements.
Although you have chosen to close your account, please consider Chase for your future financial needs.
If you have any further questions, please reply using the Secure Message Center.
Thank you,
Vanita D'souza
E-mail Customer Service Representative
1-800-436-7927
Account is owned by Chase Bank USA, N.A. and may be serviced by its affiliates.
Aaaaaaaaaaaaah! Now THAT is Financial Peace. No More Chase. No More CUofGA....the only credit card we have left "open" but currently not in use is the NavyFCU Visa, and that's only because we're still paying off debt and do not have our fully funded emergency fund in place. This is Jonny's security gland, which I totally get. Once this last $13K is paid off, and the FFEF is built up....NavyFCU Visa will be going bye bye too...
Please issue a refund for the credit balance on my account.
Also, please close my account effective immediately. I no longer use credit cards and do not wish to keep it open.
Now that I have moved into a house, I no longer care what my FICO score looks like, so please don t try to change my mind. If you need to list a reason for account cancellation, you can put Dave Ramsey.
Thank you!
Sincerely,
Jonathan Hicks
*************
Dear Jonathan Hicks,
I sincerely regret that you have chosen to close your account ending in 9771.
I have closed your account as requested. Also, a refund check for the credit balance will be mailed to the address
listed on your account and should be received by September 13, 2010.
Please destroy all cards and checks associated with this account. Remember to contact any merchants with whom you have authorized recurring charges to this account and make alternate arrangements.
Although you have chosen to close your account, please consider Chase for your future financial needs.
If you have any further questions, please reply using the Secure Message Center.
Thank you,
Vanita D'souza
E-mail Customer Service Representative
1-800-436-7927
Account is owned by Chase Bank USA, N.A. and may be serviced by its affiliates.
Aaaaaaaaaaaaah! Now THAT is Financial Peace. No More Chase. No More CUofGA....the only credit card we have left "open" but currently not in use is the NavyFCU Visa, and that's only because we're still paying off debt and do not have our fully funded emergency fund in place. This is Jonny's security gland, which I totally get. Once this last $13K is paid off, and the FFEF is built up....NavyFCU Visa will be going bye bye too...
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