cleanslate09
Junior Member
DeBT eLiMiNaTOR
Joined: Jan 4, 2011 13:32:12 GMT -5
Posts: 139
|
Post by cleanslate09 on Jan 20, 2011 20:55:02 GMT -5
Evening. I am going to post this out there to see if anyone else has any suggestions and/or advice. I feel like such a failure and just don't know where to turn. If you are going to beat me up for being irresponsible or making poor decisions, please don't comment because I feel bad enough the way it is. Here is what I posted: Evening all! I am really hoping someone has some advice because I really need a financial shoulder to cry on. I am at the point honestly where I need to consider bankruptcy and just don't know where to turn or what to do. The past year has been rough and probably would help to retrace. I originally thought I had got set up with a credit counseling service to help me start digging out of this mess. Almost every card I had, except for the store cards, jumped the interest to 29.99%. I couldn't even put a dent in the minimums they wanted. Well, at the end of the day, I was dumb and was with a debt settlement company and royally screwed myself. I got out but the damage had been done. I think all but three credit cards I have that have zero balances are closed. My credit score is in the tank at 456. Y'all know what I am up against with total debt. I was able to salvage all but three of the cards against collections. I have looked into a true Credit Counseling service and really that can't do much else for me from what I have already established. So, then comes Target. A little over a year ago I called and told them I wanted to close my account and just pay off the card because I couldn't afford the new 29.99% rate they were proposing. Well, the lady said, we don't want to lose you as a customer, blah, blah, blah and said we could put you on a temporary 6 month plan, drop your rate to 9.99%. I went in because I honestly thought in six months I would be in a better place. I wasn't and so they gave me another six months. Well, here is my dagger in the mail today. I fell off the promotion in December and because of how the pay cycles worked, I didn't get the new interest rate until today - it is back at 29.99% with a minimum payment of $170. What no one mentioned at Target was that by putting me on these two six month plans, they were shaving off a year that they could do any extended payment. So now they want over $120 for four years. Of course, I have already mentioned that my company switched to bi-weekly pay checks so I had to skim $250 off of my monthly budget. I just don't know where I can shave another $100 a month to make the current payment or even come up with another $50 for the four year plan. The monthly interest charges are almost as much as what I budget for food in a month! How did I let myself get to this point? The only things I could cut would be my cable which is $60 a month and honestly, I work two jobs so being able to come home and watch a dvr show is a slice of sanity for me. Plus, it wouldn't be enough anyway. I can't get rid of the internet at home because I wouldn't be able to pay bills. Plus, my Student Loan is in hardship and they will want at least $200 a month come July. I absolutely hate the prospect of bankruptcy because I wanted to be accountable for the mess. But, I just don't know what to do anymore and feel like I will never get my life back. I am almost 37 and work two jobs and feel like I keep getting deeper. I have my house and my mortgage was cheaper than what I was paying for an apartment. But, I don't even know if bankruptcy is even an option because my parents name is on the papers for the house. Ugggh. Not sure anyone has advice but I just don't know what else to do. I have spent an hour on the phone with Target trying to talk to someone that could help with no luck and just crying. Sorry this is so long. Thank you for being my shoulder.
|
|
Opti
Community Leader
Joined: Dec 18, 2010 10:45:38 GMT -5
Posts: 39,592
Location: New Jersey
Mini-Profile Name Color: c28523
Mini-Profile Text Color: 990033
|
Post by Opti on Jan 20, 2011 21:03:51 GMT -5
Its hard to know what to tell you since you haven't listed your financial picture, i.e. income and outgo. Also it helps to see what you have to pay down, at what interest rate, etc.
I understand being frustrated, however, you are only 37. I have internet instead of cable. I pay my bills the old-fashioned way with stamps as my credit union would charge me more than the cost of stamps to pay online. My guess is dropping cable would help you. I borrow DVDs from the library and watch some shows on Hulu.
Later on, someone should stop by and post the best way to post your finances so you can get some help.
|
|
cleanslate09
Junior Member
DeBT eLiMiNaTOR
Joined: Jan 4, 2011 13:32:12 GMT -5
Posts: 139
|
Post by cleanslate09 on Jan 20, 2011 21:15:37 GMT -5
Per Optimist4Life - Here is my latest balance update for what I am racing. It does not include my car (10,075.07), Home Loan (118,000), School Loan (19,000) and an attorney bill (12,575). The attorney bill is from a car accident and he gets paid $25 for life until it is paid off. I'll post my budget as soon as I can get it into a table format. My latest update. It isn't great, but a step in the right direction. CleanSlate09: 01/20/2011 $33420.96 (1/13/09 $32,236, S552) Total Paid to Date: $(1184.60) (Gain 3.5%) Total Paid in 2011: $366.42 (1.1%) (I need to add this line for my own benefit so I don't feel so discouraged!) Emergency Fund: $0 Loan | 12/31/2010 | 1/18/2011 | Paid Off | CC#1 | $7,051 | $6,951 | $100 | CC#2 | $2,050 | $2,010 | $40 | CC#3 | $693 | $682 | $11 | CC#4 | $0 | $0 | $0 | CC#5 | $615 | $609 | $6 | CC#6 | $4,785 | $4,736 | $49 | CC#7 | $390 | $373 | $17 | LOC#1 | $0 | $0 | $0 | CC#8 | $6,257 | $6,257 | $0 | CC#9 | $2,389 | $2,339 | $50 | CC#10 | $5,440 | $5,347 | $93 | CC#11 | $2,168 | $2,168 | $0 | LOC#2 | $0 | $0 | $0 | Ma & Pa | $1,950 | $1,950 | $0 | CC#12 | $0 | $0 | $0 | CC#13 | $0 | $0 | $0 | Totals | $33,788 | $33,421 | $367 | |
|
|
constanz22
Senior Member
Joined: Dec 18, 2010 14:32:17 GMT -5
Posts: 4,219
|
Post by constanz22 on Jan 20, 2011 21:24:39 GMT -5
That's a good start, but, you really need to post all of your budget and financial info. What is your income, from what sources, what you spend monthly on EVERYTHING. You will get much better feedback if you post all of your info.
|
|
cleanslate09
Junior Member
DeBT eLiMiNaTOR
Joined: Jan 4, 2011 13:32:12 GMT -5
Posts: 139
|
Post by cleanslate09 on Jan 20, 2011 21:31:19 GMT -5
Here is the break down of my monthly budget. The utility expenses are averaged for the year, so some months the expenses are higher, some are lower. Take Home Pay from both jobs: $3,322 Item | Budget Amount | Emergency Fund | $145 | Mortgage | $1,149 | HOA | $45 | Home Repairs Fund | $38 | Electricity | $85 | Gas | $25 | Water | $45 | Cell Phone | $68 | Cable | $67 | Internet | $30 | Dining Out | $25 | Groceries | $150 | Car Payment | $280 | Gas | $130 | Repairs (Oil changes) | $18 | Insurance | $111 | Annual Registration | $7 | Inspection | $4 | Clothing | $15 | Disability Ins | $5 | Personal (Hair care/Toiletries/Home Cleaning) | $90 | Entertainment | $47 | Pet | $55 | Debt Repayment | $688 | Totals | $3,322 | |
|
|
phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,409
|
Post by phil5185 on Jan 20, 2011 21:33:01 GMT -5
cleanslate. A bankruptcy would clear the $34,000 consumer revolving debt and the car loan and maybe the atty's bill. Your parents are the legal owners of the house so you would/could stay there as a renter. The SL is not dischargeable so that would remain. (What is your education?)
Whether or not you should file bk depends on your income - if there is no chance of ever repaying it on your income, then you are indeed bankrupt - and that is what bk is for, ie to help you.
Your credit score is already down, so there would be very little loss there.
|
|
cleanslate09
Junior Member
DeBT eLiMiNaTOR
Joined: Jan 4, 2011 13:32:12 GMT -5
Posts: 139
|
Post by cleanslate09 on Jan 20, 2011 21:37:06 GMT -5
Your parents are the legal owners of the house so you would/could stay there as a renter. The SL is not dischargeable so that would remain. (What is your education?) Phil5185 - Both my parents and my name are on the mortgage papers, would that make a difference? I have an accounting degree and currently work in technology area now as a Software Support Analyst. My fear of looking for a new job is that my credit score could hurt me. I also work parttime 20-25 hours a week at Lowe's.
|
|
phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,409
|
Post by phil5185 on Jan 20, 2011 21:49:58 GMT -5
Both my parents and my name are on the mortgage papers, would that make a difference?
Yes, very likely - you are probably the legal owner and your parents are cosigners to guarantee the mortgage. Is the house underwater? Or is do you have some equity?
Your $1149/m for a $118k note seems high? Maybe you have a high-risk rate? Or your taxes/insurance impounds are high?
Your $3322 net is pretty good, does that include the 2 extra checks - ie, $43,186? About $62,000 gross.
|
|
cleanslate09
Junior Member
DeBT eLiMiNaTOR
Joined: Jan 4, 2011 13:32:12 GMT -5
Posts: 139
|
Post by cleanslate09 on Jan 20, 2011 21:58:48 GMT -5
My home is appraised at $128k. I bought it as a foreclosure.
The payment includes an escrow account for taxes, insurance and FHA MIP for $399. Interest rate is 6.375%. Obviously not optimal but not in a position to refinance.
The monthly does not include the two extra checks. I don't factor them into my monthly because I don't get them until end of July & December. So, I'll have an extra $1,300 those months.
I also should get some sort of bonus in March, just don't know what it will be. Last year it was almost $4k which would almost wipe the Target card, its just figuring out how to get by until then.
|
|
Deleted
Joined: Mar 28, 2024 14:48:08 GMT -5
Posts: 0
|
Post by Deleted on Jan 20, 2011 23:09:03 GMT -5
Netflix can be had, streaming, for 10$ or so a month... watch that when you get home... savings 50$ Sorry... you can't eat out. Coupon and treat use some of the savings to treat yourself to a rotisseri chicken if you need not to cook... savings 25$ Sorry... your entertainment is to pay extra on your debts at the moment savings 47$ Clothing ... wear what you have for now savings 15$
There is 137$ a month. I know an EF is a good thing, but not when its costing you 30% interest in a month... i'd put that to debt too... now we're at 286$ more a month you can put to debt.
Shop all of your insurances to see if you can get a lower rate. How much longer is the car loan for? Can you get a roomate? Personal care seems way high... either buy generic, or go on the couponing thread and see how you can get them cheaper.
I'm usually YM, not WIR, so i hope this wasn't too harsh, but this is what i'd do.
|
|
Deleted
Joined: Mar 28, 2024 14:48:08 GMT -5
Posts: 0
|
Post by Deleted on Jan 21, 2011 0:17:29 GMT -5
|
|
Deleted
Joined: Mar 28, 2024 14:48:08 GMT -5
Posts: 0
|
Post by Deleted on Jan 21, 2011 0:22:05 GMT -5
Your parents are the legal owners of the house so you would/could stay there as a renter. The SL is not dischargeable so that would remain. (What is your education?) Phil5185 - Both my parents and my name are on the mortgage papers, would that make a difference? . Yes it will. The bankrptucy will also take into account your parents assests and income! You really need to sit down with a bankrutpcy attorney NOW! Keep your chin up. This isn't the worst thing to have happened. People file bankrutpcy all the time...Your not the first and not the last!
|
|
forwardwego
Well-Known Member
Joined: Dec 22, 2010 3:54:23 GMT -5
Posts: 1,395
|
Post by forwardwego on Jan 21, 2011 6:43:42 GMT -5
cleanslate First, i think opening up on these boards was exactly the thing to do. i hope it gave you some relief to get this out there. There is a WEALTH of combined knowledge and experience. They will tell you the truth. Maybe someone has even been in very much the same situation. Second, here's my humble offering of ideas: roommate to share expenses, or do Mom & Dad live close enough you could live there & rent out the house even for less than the mortgage would improve the cash flow. Also if you haven't already told them, your parents need this information. I hope you will keep coming here, one way or another you will work through this, and someday someone else may be here in a similar rough situation and you will help. I am here for you.
|
|
|
Post by suzwantstobefree on Jan 21, 2011 7:07:08 GMT -5
Clean - I would also call every one of your creditors and tell them your situation. It is a humbling experience, no doubt, but you may get someone to listen to you and give you some relief. It sounds like you have some potential good things coming up. I don't know which one of the credit cards is Target but I am guessing it is your cc with the almost $7000 balance. I would use the money you are putting towards an emergency fund towards that card for the couple of months until your bonus comes in. When you get the bonus, call Target and ask them if they will accept a lower amount to pay off the credit card in full and close it. I don't know if they will, but I know some people have had sucess with this (and don't feel like a failure for paying less than the full amount -- they have made money off of you due to the interest you are paying). Do you think you will get a tax refund? If so that may be something to help you with some of the debt too. I agree that you should check to a BK attorney and just find out what your options are. Some things about your budget - is there a library near you that you can go to either during your lunch hour or after work? There you can access the internet. -- not ideal, but saves you $30 per month. Can you switch cell phone providers? I pay about $49 per month and yours seems a little high. I have seen some providers that offer unlimited text, internet, and phone for $49 per month - that could save you almost $20 more per month. Gas - make it a point to limit your travel. If you are off one day try not to go anywhere or if not, make sure you are maximizing all your trips out. I offer these only because I have been there too. My situation is good now and I didn't have to claim BK. However, I would have if I needed to and wouldn't have felt like a failure because of it. BK is designed to help people start over. Be well today Clean I am pulling for you
|
|
Pants
Junior Associate
Joined: Dec 27, 2010 19:26:44 GMT -5
Posts: 7,579
|
Post by Pants on Jan 21, 2011 11:47:55 GMT -5
What is the minimum payment on all of your cards? How much do you have in your EF and home repair fund? If you have bare minimum enough in those areas, I would redirect those funds towards paying off the cards. Also, $90 is high for personal care, and you can definitely cut cable out for a bit until you get back on track. But the bankruptcy yes/no question really depends on how much you have in minimum payments per month.
|
|
chicg
Familiar Member
Joined: Dec 27, 2010 15:55:49 GMT -5
Posts: 742
|
Post by chicg on Jan 21, 2011 13:57:37 GMT -5
Ugh, sorry you're in this situation. Shortly before I joined the WIRR threads here, I was in a similar situation. I don't own a home but my bills were exceeding my income and by most accounts, I should have filed BK. I was able to get out of it and I'm almost out of debt now. Maybe you can, or maybe BK is the answer, but you should probably figure it out soon so you don't keep paying on cc bills that could end up discharged. I agree you should tell your parents. It will be hard but they're on your mortgage and you'll need their support if you do file. Is there a chance that your parents might contribute to the mortgage if they know you might have to file BK and it will affect them? If so, or if for other reasons you go about this without filing BK, you absolutely have to cut a few things. Cut cable, keep internet and watch TV on your computer. You have to cut down your groceries and personal spending. $90/month on haircare and household is too much. Learn to coupon. I live in Chicago by myself and spend $150/mo on groceries and household combined. Look at taking in a renter, look at selling your car and buying something cheaper for cash. Move back in with parents and rent out the house. Anything to bring in extra cash. Do you live in an area where you can take public transportation? Carpool? Eliminate the car in the summer for a bike? A whole lot of little changes can open up a few hundred bucks but where the big impact comes is cars and housing. if you could eliminate your car payment and take in a renter, that would give you significatly more cash coming in, that's how you start attacking debt. I was lucky enough to get my car paid off right when I was at rock bottom, that $278 extra per month was what I needed to start the process. Then I got a new job with more income, stayed in my tiny-but-cheap rental (am committed to that until debt is paid off), lived without internet for 8 years, take the bus/train more then driving, cut my grocery bill in half, etc. You'll need to learn some of these spending habits so you don't get into trouble again. Also, evaluate why you purchased the house in the first place if you knew you couldn't afford it. Even if it was cheaper then renting (although for $1200/mo, you must live in a super high COLA or you could have found a cheaper rental, I'm guessing there is public transit) you had to be aware of long-term consequences. At least with a rental you could have moved out. This isn't meant to beat you up, just so you become familiar with your patterns so you don't repeat them moving forward. Good luck, I was able to do it so I think many people can, but it's a lot of hard work. If BK is the answer, don't feel bad, just make sure you learn your spending lessons so you don't fall into those patterns again. Good luck.
|
|
Frugal Nurse
Familiar Member
Joined: Jan 3, 2011 18:19:55 GMT -5
Posts: 988
|
Post by Frugal Nurse on Jan 21, 2011 16:16:56 GMT -5
Actually, you don't have to file Chapter 13 first. Each state has a means test to help figure which Chapter you can/must file. True: SLs cannot be filed. Once the bankruptcy is discharged (or even before), continue to make your SL payment. If you don't, the gov can garnish your future tax refunds. I think the advice to file chapter 13 first was to try and help her keep the house. If she files Chapter 7 right away, won't she automatically lose the house?
|
|
cleanslate09
Junior Member
DeBT eLiMiNaTOR
Joined: Jan 4, 2011 13:32:12 GMT -5
Posts: 139
|
Post by cleanslate09 on Jan 21, 2011 16:30:10 GMT -5
Thank you everyone for all the advice! I do appreciate. Some is a gut check and the next few days and weeks will sort itself out. At the end of the day, the sun did come out today, cold or not!
I did call Target again today and took the best they could offer and will make every effort to make it work. Right now they are giving me $125 payment for 4 years at 6.9% and I took it. Closing one more card isn't going to hurt me.
I probably should also explain some of the higher costs that people have pointed out. Dining out is typically next to ever. However, I occassionally have to do some eating out for work and need to have money set aside for those occassions. It just is reality of my job.
As for the personal care, approximately $30 a month of that goes to allergy medications. The doctors can only give me the possibility that I am allergic to myself and Zyrtec keeps the hives away and helps with the allergies that I also receive shots for. In any event, Zyrtec can no longer be paid with my medical account because allergy meds require a prescription with the changes in the health care laws. So, that is $60 to cover everything else from paper towels, make up, shampoo, laundry detergent, hair cuts, etc.
The pet care covers dog food for my two dogs as well as the annual check ups for the year.
Moving in with my parents is not an option as they live in Nebraska and I have no family here in Texas. Moving back to Nebraska is not an option as houses in my neighborhood are not selling and the job market is not good in Nebraska. I currently have a 22 mile commute to work each way and public transportation is not an option. The average house price close to my work is $300,000 and our office is considered to reside in one of the top 100 expensive zip codes.
I will keep chipping away at my budget and try to keep my head afloat. If anything, I feel better knowing I am not alone in this battle. I honestly am considering getting rid of the internet over the cable. Weird I know but I would rather have tv over internet.
Thanks again!
|
|
Frugal Nurse
Familiar Member
Joined: Jan 3, 2011 18:19:55 GMT -5
Posts: 988
|
Post by Frugal Nurse on Jan 21, 2011 16:31:06 GMT -5
Ok, so can you do the following for a few months, maybe until you get the bonus and can pay off some debt, so that your money wont' be so tight?:
Cable- get rid of it. It is only for a few months. Watch TV on Hulu.com, youtube, funnyordie, rent movies from blockbuster express for $1.00 (you can usually find promo codes to get these for free), use a free 3 week subscription to netflix, then another free 3 week to blockbuster, etc. Savings: $67.00/month (that is a lot of money for someone looking at Bankruptcy)
Dining out- $25.00 -stop this now. you can't afford it and it isn't healthy anyway. you can make a healthy, easy meal at home very cheap. A favorite that got us through some lean times: Whole Wheat Tortillas- $1.50 for 10 Vegetarian refried beans: $.60/can Canned corn: $.33/can Cheese : $1.00 for the block of cheese
Spread one tortilla with some refried beans, top with a little corn and some shredded cheese. Fold in half, and brown in skillet or microwave for 1 minute. These ingredients make 10 "quesadillas" and are unbelievably filling. Total time: about 5 min Cost: $.34 per serving
Personal -$90.00 - I'm not sure what this entails, but start reading some couponing blogs, get your personal care items for free. At Rite aid this week you can get three 4-roll packs of toilet paper free after rite aid rewards. Start there, then work on getting shampoo, conditioner, body lotion, soap, toothpaste for free. You can also get your household cleaning supplies for pennies on the dollar
Entertainment- $47.00 - Someone who is looking at bankruptcy should not be spending on entertainment. There are lots of free ways to entertain yourself. There is a thread about that on the smart spending blog.
Total amt. you can trim just by doing these things: $229.00 That is HUGE for someone who currently has no wiggle room. If you can keep it up after you get you bonus, and make this a way of life until things are more comfortable, you will be able to get out of this without filing bankruptcy
|
|
Frugal Nurse
Familiar Member
Joined: Jan 3, 2011 18:19:55 GMT -5
Posts: 988
|
Post by Frugal Nurse on Jan 21, 2011 16:35:29 GMT -5
You have to spend $30.00 a month on Zyrtec? Rite aid has an allergy Rewards program that was made just for you! For every $75 you spend on Zyrtec and other allergy meds, they gift you a $20 gift certificate off your next purchase. You could use that to buy more meds, or get your personal care items, or some of the food items Rite Aid offers. At the rate you go through the meds, you will earn these rewards very quickly. Also, combine this with coupons/sales to get the best deals. You'de get Roughly $80-$100 in rite aid rewards every year just from that!
|
|
constanz22
Senior Member
Joined: Dec 18, 2010 14:32:17 GMT -5
Posts: 4,219
|
Post by constanz22 on Jan 21, 2011 16:40:41 GMT -5
Under the new FSA laws, over the counter meds DO NOT need a prescription. Your doctor has to fill out a "certificate of need" which, from the sounds of things, shouldn't be a problem getting the doctor to do so.
|
|
|
Post by suzwantstobefree on Jan 21, 2011 16:44:56 GMT -5
Another thing I was thinking about today -- are any of your credit cards reward cards? If so can you get gift cards for gas or walmart or somewhere that can help you pay for some of the items on your budget?
The reason I ask this is because I used my cc rewards to pay for my entire christmas this year -- perhaps this can help you get back on your feet.
|
|
jdnstl
Familiar Member
Joined: Dec 21, 2010 10:21:56 GMT -5
Posts: 949
|
Post by jdnstl on Jan 21, 2011 17:24:50 GMT -5
Cleanslate - please consider joining us on the grocery challenge thread. i promise we can help you lower the $ in this budgeted area. that is good news that target agreed to a much lower interest rate. i think you can make it through this without BK.
|
|
chicg
Familiar Member
Joined: Dec 27, 2010 15:55:49 GMT -5
Posts: 742
|
Post by chicg on Jan 21, 2011 17:34:43 GMT -5
I honestly am considering getting rid of the internet over the cable. Weird I know but I would rather have tv over internet. Your cable is double the price of internet. Wants are no longer priority, you need to face reality. I think people need some form of entertainment so I'd say cut out the entertainment money and cable and keep internet as it's your least expensive option and you can coupon like crazy with internet. I know it's really hard to process some of this but you have to look at it like "is cable worth filing BK and losing your house and dragging your parents in the mess with you?" Also, $60 is still too much for personal care, it should be $0-20. No more haircuts, no more favorite shampoo. You'll have to sacrifice things that you don't want to give up but if you follow a lot of the advice here, the worst of it will only be temporary and you might be able to avoid BK. If you can at least make some of the suggested cuts until march when you get your bonus, that will get you over a big hump. It sounds like you are committed work-wise with having a 2nd job, but you haven't absorbed the spending side of it yet. Keep reading the threads here and see what other women to do save money, what they cut out of a budget to keep a household running, what they sacrifice without complaining. Again, good luck. People on here want to see you succeed!
|
|
Deleted
Joined: Mar 28, 2024 14:48:08 GMT -5
Posts: 0
|
Post by Deleted on Jan 21, 2011 17:59:09 GMT -5
You can watch television on the internet... free places, the networks all have them, i've heard good things about hulu... and netflix is CHEAP for streaming... lots to watch... too much... and it is MUCH less than cable, and you can still pay your bills, research, etc. etc.
And 60$ is more than i spend on household for the four of us in a month (two months?)... definately check out the grocery challenge... i never have much luck couponing for food... i just don't buy a lot of processed things and in my area they don't have a lot of fresh produce coupons... but household stuff... man, i almost always get that stuff cheap...
And do the med thing constanz suggests... that stuff DOES still count... its just you need a 'note'... so get one.
|
|
cleanslate09
Junior Member
DeBT eLiMiNaTOR
Joined: Jan 4, 2011 13:32:12 GMT -5
Posts: 139
|
Post by cleanslate09 on Jan 21, 2011 18:46:04 GMT -5
Well I guess my boss in a professional environment will understand that I can no longer be professional and maintain a basic haircut.
I grew up poor, I got myself in this mess but I will not walk around looking like a homeless person with unkept hair. Besides, if $5 for for a giant bottle of Herbal Essence is excessive, then yeah - I better just give up.
|
|
Frugal Nurse
Familiar Member
Joined: Jan 3, 2011 18:19:55 GMT -5
Posts: 988
|
Post by Frugal Nurse on Jan 21, 2011 18:47:52 GMT -5
Well I guess my boss in a professional environment will understand that I can no longer be professional and maintain a basic haircut. I grew up poor, I got myself in this mess but I will not walk around looking like a homeless person with unkept hair. Besides, if $5 for for a giant bottle of Herbal Essence is excessive, then yeah - I better just give up. It is this attitude that will keep in you financial trouble for the rest of your life....
|
|
Frugal Nurse
Familiar Member
Joined: Jan 3, 2011 18:19:55 GMT -5
Posts: 988
|
Post by Frugal Nurse on Jan 21, 2011 18:52:41 GMT -5
I grew up fairly poor too. I do not get a haircut every month. I do not spend $5.00 a month on shampoo and conditioner. I look professional. You do not have to look homeless to save money (in fact, it sounds as though if you don't get it together soon, you will actually be homeless.) Everyone here has given you some great advice. It is up to you to decide whether you want to take this problem head on and dig out of it, or give up and file bankruptcy, ruining not only your credit (which I understand is pretty much nil anyway), but also your parents' credit. They trusted you, and now you are going to drag them through the mud because you don't want to give up haircuts and cable. Nice.
|
|
Deleted
Joined: Mar 28, 2024 14:48:08 GMT -5
Posts: 0
|
Post by Deleted on Jan 21, 2011 19:13:39 GMT -5
Is the home repairs fund something you are obligated to pay into through your HOA, or is that your savings plan for when your house inevitably needs work? While it is really smart to save up for future home repairs, given your current situation, I would redirect that money towards your debt.
There are a few other annual costs that you have pro-rated out - registration and inspection for your car, etc. In general, this is a smart budgeting strategy. But if any of those expenses aren't due until after you get the bonus paycheck in July, I would pull them out of your monthly budget. You need to throw everything you can at your debt. Then when you get that extra check, you can set aside the full amount you need for your registration, or the pups' annual vet visit, etc. You may also want to look at those extra checks as the time to buy clothes (there are usually pretty good sales in July and December). The net effect is the same, but by paying more on debt each month, you'll save on interest in the long run.
|
|
Deleted
Joined: Mar 28, 2024 14:48:08 GMT -5
Posts: 0
|
Post by Deleted on Jan 21, 2011 22:43:03 GMT -5
"I will not walk around looking like a homeless person with unkept hair. "
Well... i guess if the choice was to BE homeless, or look homeless, i'd rather look it... (i'm being... something... the choice is NOT get a haircut every month, or look homeless... waiting 6 weeks/2 months to get a hair cut does not mean that you don't brush it...)
"Besides, if $5 for for a giant bottle of Herbal Essence is excessive, then yeah - I better just give up. "
Ok... but if its only 5$ and lasts you a long time... then i don't see how you are coming up with 90$ a month... i'm guessing there is room there where you could cut down a bit, and if you watch sales and coupons you could get it down even further.
|
|