Yesterday morning about 11 am CT, I was able to get my phone turned back on, but still owe $89 (by 7/24). I then called in and received the promo deal of 1000 minutes with free roaming and long distance for 39.99 (a savings of $6 over what I had been paying). I then canceled the unlimited t-zones (music downloads, Internet access, etc), saving me another $4.99. To top that off, I found I had 400 text messages at $4.99 a month, so I eliminated that also. In total I cut $16 off my monthly phone bill, plus the taxes, so that would bring the savings each month to $20-$21.
I have made the decision also, that Bank of America will be fired as soon as I can get my direct deposit changed back to my Credit Union. Part of me can understand their reasoning that, it's not really fraud, but a billing dispute, but at the same time they are suppose to be working for me, the customer, yet they act like they don't really care.
There has been several of you that helped make this possible. Each of you have been thanked on my Thank You blog. One guy in particular made a post on his blog, urging his readers to help. While, I really don't like asking for donations, I do appreciate them. I obviously, am still behind on other bills, because of all this mess, but can now see a teeny, tiny, small light at the end of the tunnel. The insulation company has threatened to turn me over to a collection agency, if I didn't make at least a 1/3 payment ($187) by July 10th. At this point, I am like who cares. They will get their money, but I am more concerned with the $75 mortgage and $400 car payments, not to mention the bills like electric, water, gas, phone, etc.
I will have them paid off by the end of the year, as I will the annoying credit card as long as I stay focused and not incurring new debt, or doing anything else stupid like I did with this home business thing. Of course, I thought I would have the credit card paid off last year to. Am I to optimistic? I believe I can get all these bills caught up and get myself debt free (except my car and taxes) by March at the latest. The trick will be to keep the bills from being disconnected, during the process.
I am open to other ways to cut expenses, even to selling my car that I am still upside down in, and getting a cheaper car.
Not counting the insulation installation, I was $845 behind, of which I still owe $770 of it, plus keeping current as the utilities as begin sending their new bills. Again, I am still optimistic, that I will successfully get these caught up and current.
On top of all this, Friday will be my birthday. I intend to have a good birthday. While, it would be awesome to become totally debt free on my birthday, I know that would change my spending habits in of itself. It will be 2009 before I am 100% debt free, including the car and the IRS taxes. Although as I already said, the credit card and small debts, I expect to have paid off by the end of this year.
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You listen to Dave Ramsey, right? He always talks about the "four walls". Make sure you pay the mortgage utilities, and food before anything else.
ReplyDeleteLooking over your post I would make some observations, if you are interested. First of all, here in Houston, Chase Bank has a $75 bonus for opening a new checking account with direct deposit. I havent looked into the fine print yet. There may be some evil monthly fees, so it may or may not be a good option. I just thought I would throw it out there for you to consider.
Dave Ramsey also always says that if you can't pay off your car in eighteen months to two years, it is too expensive.
Is there any way you could get out from under it without ruining your life? That may be the way to go. With almost thirteen thousand balance, it would certainly be worth considering.
I should also ask you about increasing your income. I understand that you live in Kansas, where the cost of living is probably lower than average, so having a lower income than average may not be as difficult as it would seem at first, but with the debt levels that you are at, it doesn't seem like you should be having an enormously difficult time. I saw in an earlier post of yours that your work schedule varies from day to day, so it's hard for you to get a part time job.
Have you considered trying PayPerPost? I made over two hundred dollar last month by putting sponsored posts on my blog. It would be a great "part time job" if you wanted to look at it that way. And then you would have the benefit of being able to work on it whenever you had time during the day. Just keep in mind that you remain thirty days "in the hole" with them. So you never get paid for anything you do until thirty days after. (In fact, the money that I sent you was from my pay per post earnings. Ironic, isn't it?)
There are a lot of other things that you could do to increase your income. Especially if you are not afraid to be innovative. And it doesn't hurt to be willing to work for it. Even mowing people's grass can be a good source of income.
I knew one person who made a perfectly good living by going around and with a stencil and spray paint and painting people's addresses on the curb for them. He would go door to door with business cards and explain the service, and then he would come back on the weekend and paint the whole neighborhood at once. At ten dollars per house he made a killing.
Hang in there, Kevin. There is always hope. Just don't be afraid to "step out" and try something new.
I like jagular's idea of a better 2nd job. Better pay and better benefits is what you want. Dave always stresses that one. He instructs his callers to improve their income.
ReplyDeleteHi Prince, I agree with Jagular. Although, I know you already joined and make money from PPP. :)
ReplyDeleteThere is just a huge shortage of opps lately.
I was wondering, does your company do it's scheduling weekly or bi-weekly? If it is bi-weekly you can get a little more flexibility.
My suggestion, talk to some local businesses, see if they may need a little flex labor. Tell them you will provide them with your schedule when you receive it and they can let you know if they have a need on your free days.
If you can pick up 1 day a week (8hours) at $6 an hour, you could bring in about $38 extra a week, after tax. Due this until Year End, put a limit on it, so you can see the end. This helps you stay focused. Then if you decide to keep going you can. Anyway, if you start by August that 21 weeks or $798.
All I'm saying is DON'T GIVE UP! Fight! Start Attacking these debts, like they have been attacking you.
Do something with tips and all the better.....
I agree with the others, you can make a nice chunk of change doing the PPP gig, or selling things on eBay or Craigslist. Also, since your work schedule is not flexible, check Craigslist for "temporary" jobs..some of them are for one day only, standing on the road holding a sign or handing out samples..you can make a quick $50-100 bucks! Worth looking into.
ReplyDeleteJagular gave you some great advice there.
ReplyDeleteYou also might want to consider contacting Associations that help the elderly or disabled.
You will be doing a good service for them, and making yourself some extra money.
Anything from home repairs, mowing grass, changing light bulbs, etc...I had someone come along and spray paint the number of my house on the curb for $10....took him less than 15 minutes...and he did all my neighbors too.
The key is to immediately take that money and put it towards your TARGETED debt. (not spend it on something else)
I agree about the car--it needs to go....
I want to clarify my previous comment (july11,2007 9:20am). I meant to advise you to apply yourself to getting a better job, period. I believe you are on the wrong path. To put it bluntly, you work at a low-wage job and you continue to fall behind in your budget. My goal and hope for you is to pay off this $845 temporary debt. And get a better job with better pay, so you will have a surplus every week. With this surplus you can save up for emergencies like tooth aches, doctor visits, and flat tires. I am concerned that you may become distracted with making a few bucks at blogging and advertising and lose focus of solving the big problem that continues to cause you to stumble. The big problem of course is not enough income. And the tried and sure way of increasing your income is find a higher paying job. Does that make sense? Am I on the right track?
ReplyDeleteI agree with all of the above. Get a temporary second job, the number painting is an excellent idea, as is the assisting the elderly. My mom had spare money to pay for services such as small handyman jobs and nobody to do it! I think there are a lot of people in that category.
ReplyDeleteAlso, I'm a student finance manager for a University and I would highly encourage you to go back to school. With federal money more abundant than ever, with your lower wages you may qualify for a PELL and or SEOG grant that could pay for the whole thing. I think if you got a degree in something you really like, or even in finance--with the goal of maybe working for a Consumer Credit Counseling to assist others out of debt, you would be fantastic at. You obviously have a passion for wanting to become debt free, you've inspired many on this blog, so put those talents to work for better pay and benefits!
Good luck Kevin