Can't stop looking at my spreadsheet!

[RoadToRiches]

I think I have a problem. I can't stop looking at my budget and debt snowball spreadsheet. Nothing is changing but I still keep looking at it. I think I might be developing some kind of OCD for this debt payoff and budgeting thing. I haven't used credit cards this whole year and I am addicted to envelope system too This is crazy....

I play with different scenarios in my debt snowball. My plan is solid and I been sticking to it. I didn't slip, I didn't spend money on stupid crap like I used to. But what I noticed was, that by the end of this summer, I will be in 5k debt range with last two cards at 0%. Seems like such a long way to go (Four 15th of the month times - yes, I have my own calendar lol) and then I think, how long I have to wait for those 15th of the month checks. But I am rolling with it! Gotta stay focused and pay that crap off!

This is going to be real test for me this summer. People going out, hanging out - and it all involves spending money. No more golfing for me - the game that I love. Not this year. Just have to stay on this boat and direct it where I want it to go.

I noticed too, how my thinking changed when I talk to my friends. I talked to my mom and all I talk about is my debt snow ball and budget. She was laughing (in a good way) and told me that I became obsessed with it (in a good way) I need to do this for me and for her. I want to be good son and "re-pay" her for all the good things she did for me. I just can't do it right now at this moment.

Ahh sorry for rant...I guess I am again in this "15th is so long away" mod again. It will pass.

[alabamagal]

indebt, just keep focused on your goal. I am also a "number person". When we were paying off our debt, I used a spreadsheet and would track progress and project when we would pay it off. I think of it more like a "hobby" than an obsession.

As far as spending money on enjoyment, golfing or whatever, I think it is best to find some balance in life. You can cut way back on spending, but still leave a little time and money for fun.

[wodehouse]

I understand the OCD thing. I could spend hours tweaking my Excel workbooks related to my finances.

Your situation reminds me of when I was in university (I was an older, returning student). I had some charts on notebook paper, I listed the courses I needed to take to finish, I even drew CPM ("critical path method") charts to show what courses I needed to take when in order to obtain the quickest route to completion (CPM was something we learned in engineering school). But in the end, no matter how many charts I made or studied I was still restricted to serving the time and doing the coursework. And that is one thing that university taught me...the rewards of delayed gratification. I had to learn to be patient, do what needed to be done, and 'tend to my knitting'. ...rather than living too much 'in the moment' without regard for future results. A similar approach for your situation may apply.

[RoadToRiches]

Yeah, I do have fun. The problem is that before, my fun did not fit my wallet lol. Hell, I would go play golf and use credit card to pay for it!

This year's motto is, relax.. do things that are cheaper and enjoy the weather. Spend some time with ME. Hit the pool, lay out.. chill. I do give myself 60 bucks per pay for fun (120 a month). This money is for me. I can spend it how I want it. Redbull, bruski here and there, buy lunch if I forget mine (I pack 99% of the time).

It boggles my mind to see how much I was spending before.

[midjd]

As far as obsessions go, obsession with getting out of debt is not a bad one

I can sympathize... I'm also in the "hurry up and wait" mode while DH is in school and we're squeaking by on one income. But you don't want to wish your life away, either. Since summer is coming, try to concentrate on breaking away from the spreadsheets every now and then and get outside for some Vitamin D!

Plus, once you find some free or relatively cheap ways to entertain yourself this summer, you can use them to stretch your earnings next summer (while still getting some golf in)

[RoadToRiches]

May 26, 2011 9:34:07 GMT -5 wodehouse said:

I understand the OCD thing. I could spend hours tweaking my Excel workbooks related to my finances.

Your situation reminds me of when I was in university (I was an older, returning student). I had some charts on notebook paper, I listed the courses I needed to take to finish, I even drew CPM ("critical path method") charts to show what courses I needed to take when in order to obtain the quickest route to completion (CPM was something we learned in engineering school). But in the end, no matter how many charts I made or studied I was still restricted to serving the time and doing the coursework. And that is one thing that university taught me...the rewards of delayed gratification. I had to learn to be patient, do what needed to be done, and 'tend to my knitting'. ...rather than living too much 'in the moment' without regard for future results. A similar approach for your situation may apply.

That is so true. I think I am at the finishing steps of learning about delayed gratification. That is something I had to learn in order to do this whole thing successfully. Without getting over that first obstacle, all the rest did not matter really. That's been the hardest part I guess. Paying bills every month is easy. But having money to pay for those bill is, in my opinion connected to learning how to delay pleasure. Because if I didn't, then I would buy something stupid and spend the money!

I still get those thoughts in my head. Not often though. "Common! You deserve it! Why not pay $500 on that card on 15th instead of $1200! You will catch up later! Go ahead.. go get that nice dress shirt you wanted....common...you know you want it.." Then I snap out of it and think that it will only delay my freedom date.

Dropping previous lifestyle and learning how to delay pleasure are the things to conquer first for anyone who is getting out of debt..in my opinion.

[zippy478]

I do the same thing. When I was a graduate student, I had a research assistant position that looked at paying off debt as a 12-step plan similar to AA or any of those programs. I really do think that once you admit the problem that you do what you need to do to fix the problem. If your'e a numbers person, it's even worse because when you can't throw money at it - you play with numbers to see what if anything you can do differently.

[wodehouse]

Oh, one thing about my experience at university and learning about delayed gratification. Part of that is learning to enjoy the process, not only the "end event". So, learn to enjoy the process of learning to budget money for bills *and* for fun. Then enjoy paying those bills and having that fun, knowing that you have planned for it and have enough money to pay for it.

[RoadToRiches]

Totally agree wodehouse. I think maybe that's why I enjoy paying those bills every month lol. It's strange, but the thought of me having a plan and every 15th of the month making it happen puts a smile on my face when I hit that "Pay Bills" button.

[wodehouse]

[alabamagal]

Back in the days before the internet gave you so much information, I used to look up the closing prices on my 401k funds and enter them into my spreadsheets to see how much I "earned or lost" each day. I would also look to see when my contributions posted and add them in. Now most of this info is available with a few mouse clicks. It is easier but somehow less enjoyable.

[pig]

Spend some time with ME

How exactly would one not spend time with oneself?

[RoadToRiches]

May 26, 2011 10:16:42 GMT -5 @pig said:

Spend some time with ME

How exactly would one not spend time with oneself?

Read some books...chillout alone...things like that. Instead of going out all the time with people.

[qofcc]

I used to look at my balance sheet all of the time, now I do it most every payday but at least once/month. I keep a list of the date & total every time so I can see how much my debt went up or down each month along with a note if there was a major purchase or sale that contributed to the difference (ex. replaced dryer $500 or sold tractor $2K)

[jkscott]

Im the same way. I update my spreadsheet daily. Its my baby. I came very far and a lot of it has to do with the spreadsheet reminding me every day to stay on track.

[dancinmama]

indebt: I do not mean to be condescending, but I can't tell you how proud I am regarding what you are doing for yourself and your financial future. People just do not realize how much money they are pissing away. It's not to say that you didn't have some really good times with that money, but in the end it is so much nicer to live within your means/below your means and have fun according to what you make, not what you can borrow.

I totally understand what you are going through, except in the reverse. When we were starting out and establishing a firm financial footing, I used to have all sorts of spread sheets (no computers in those days) that tracked our savings. If one or both of us worked overtime, I could tell you to the penny how much more we'd see in our paychecks and how much more I was going to be able to put away when we got them. It was exciting to see us go to the next level (say from having $5K saved to $10K) and so on and so forth until one day we had over $50K saved (enough for 20% down on a home and enough left to have a hefty EF).

Hang in there and you can all you want here about the progress that you are making. I LOVE hearing about it and watching the ----- through the various credit cards as you pay them off. ;D

[Deleted]

May 26, 2011 10:32:21 GMT -5 RoadToRiches said:

May 26, 2011 10:16:42 GMT -5 @pig said:

Spend some time with ME

How exactly would one not spend time with oneself?

Read some books...chillout alone...things like that. Instead of going out all the time with people.

I need some ME time too. I really miss that.

Just wanted to say I totally get where you're coming from with the obsessing and the loving to pay bills. I love just checking your signature to see how you're doing! Keep it up!

[RoadToRiches]

Thank you ;D

I am not sure how to go about crossing one out of my signature for June 15th. Amex Blue has 3200 balance on it and it will be paid off in 3 months (little over 1k each month). I am thinking I might cross 1/3rd of the "Amex Blue" lol

[Deleted]

May 27, 2011 12:39:33 GMT -5 RoadToRiches said:

Thank you ;D

I am not sure how to go about crossing one out of my signature for June 15th. Amex Blue has 3200 balance on it and it will be paid off in 3 months (little over 1k each month). I am thinking I might cross 1/3rd of the "Amex Blue" lol

Some people on another board I frequent have something like this in their signatures that tracks their paydown. I thought that was kind of neat too. Of course watching my mortgage go down over 30 years...not as exciting. LOL

$300k(XXXXXXXXX)$200k(XXXXXXXXX)$100k(XXXXXXXXX)$0

edit: it didn't copy and paste right. Some of those X's should be red to show what's paid.

[busymom]

Good idea indebt! I've got a chart made up, and use a highlighter as each goal is reached. The more highlighter on the page, the more progress we're making. It IS motivating to have those sheets, to remind yourself how much you've accomplished, even if you're not quite at your short-term goal yet.

[RoadToRiches]

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[RoadToRiches]

May 27, 2011 12:57:50 GMT -5 RoadToRiches said:

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I love highlighter too. lol Here is what my spreadsheet looks like. The goal is to have all the empty spaces! I play a little game and delete a row once the card is paid off, so in June, Amex Clear row will be gone!

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[busymom]

Nicely done!

[RoadToRiches]

Doh! Stupid board...doesn't let me delete my own post just the content of it ...

[RoadToRiches]

Thank you mom

I just realized.. .November will be good month for my signature crossing lol... 2 accounts!

[busymom]

It was a combination of job loss & unexpected medical debt that did it to us. I've heard over the years that around 1/2 of all bankruptcies have to do with medical debt, not free-for-all spending. Frankly, I believe it!!!

[NoNamePerson]

May 27, 2011 13:10:39 GMT -5 @patstab said:

I don't mean to rain on anyones parade but I just don't understand how people let themselves get in debt like that.

Once many many years ago I let my charge card get up to $5k, I couldn't believe I did that. When I got the bill I was in shock. I took money out of the bank with hubbies blessing, paid it off and never did it again. That was scarey enough for me.

Probably the same way you did it many years ago.

[RoadToRiches]

May 27, 2011 13:10:39 GMT -5 @patstab said:

I don't mean to rain on anyones parade but I just don't understand how people let themselves get in debt like that.

Once many many years ago I let my charge card get up to $5k, I couldn't believe I did that. When I got the bill I was in shock. I took money out of the bank with hubbies blessing, paid it off and never did it again. That was scarey enough for me.

I said it many times...in my case it was combination of things:

1. Stupidity
2. Living beyond my means
3. Keeping up with my friends, who of course, live on credit
4. Lack of money management skills.
5. Not thinking about the future, living in a moment. I WANT IT NOW mentality.

Pretty much those were the reasons for me. I just didn't think. Yes, I looked at my statements and my eyes boggled when I saw I paid $60 out of my $88 minimum payment to interest only. But you know what? I just kept paying minimum with mentality that is all I have to do and I will be fine. Hey! As long as I can make minimums! Who cares! Right? lol

...and then I woke up. Lesson learned. People make stupid mistakes and hopefully learn from them.

To add: Something that made my brain change and click was when I started to listen to audio book "Automatic Millionaire". It pretty much scared the shit out of me. I guess I was "ready" for a change? I don't know what you call it. I read many books from S. Orman, Dave, etc...ohhh I read them.. but didn't do jack about my situation. I KNEW I had a problem, but didn't change. Like I said before, for people who were always responsible with their money, they will never understand someone like me. Something just clicks. Without that "click", person will not change their ways. Many times I said "Uh oh that's it!" and I would cut my cards all up, only to find myself calling them back asking for replacement card. LOL.. How crazy is that huh? It's like a drug addict. Strange. I guess, for some to understand me, it would be like for me to understand someone who is alcoholic or drug addict. I KNOW it's crazy for them to do what they do, they probably know it too. I would just say "Just stop doing drugs and drink!" They would know they should...but can't. In my thinking, being drug addict or alcoholic is no excuse. Just like for some thinking getting in debt like that is no excuse.

[zibazinski]

It happens. Whats good is when people get the "come to Jesus" moment and get back on track to financial freedom. Like Meghan says, she can kick BF out if she wanted to!!! She doesn't want to but she can take care of herself now if she has to. You will be paid off by the end of the year which is ONLY 7 months away. If you are a Christmas buyer, be careful and perhaps start saving a little each check to buy ahead something that is on sale for holiday time so that you don't do that cc again. Just a thought.

[Deleted]

May 27, 2011 13:18:57 GMT -5 RoadToRiches said:

May 27, 2011 13:10:39 GMT -5 @patstab said:

I don't mean to rain on anyones parade but I just don't understand how people let themselves get in debt like that.

Once many many years ago I let my charge card get up to $5k, I couldn't believe I did that. When I got the bill I was in shock. I took money out of the bank with hubbies blessing, paid it off and never did it again. That was scarey enough for me.

I said it many times...in my case it was combination of things:

1. Stupidity
2. Living beyond my means
3. Keeping up with my friends, who of course, live on credit
4. Lack of money management skills.
5. Not thinking about the future, living in a moment. I WANT IT NOW mentality.

Pretty much those were the reasons for me. I just didn't think. Yes, I looked at my statements and my eyes boggled when I saw I paid $60 out of my $88 minimum payment to interest only. But you know what? I just kept paying minimum with mentality that is all I have to do and I will be fine. Hey! As long as I can make minimums! Who cares! Right? lol

...and then I woke up. Lesson learned. People make stupid mistakes and hopefully learn from them.

I was digging through some old books a few weeks ago and found a spreadsheet I had printed out from 1995 or something like that. It was a listing of all my loans, outstanding balances and monthly payments...and there were FIFTEEN of them. Mortgage, 2nd mortgage, home equity, car loan, personal loan, land contract, barn loan, student loans...

I don't know how I ever kept my head above water as I was making maybe $6/hour back then. I got lucky. Household income went way up starting in 1998 and although my total debt load dollar-wise is higher now, it's all just been a mortgage for the past 5 or 6 years. Much less stressful! My divorce would have been a lot tougher with all that debt to deal with as well. I probably would have had to sell the house.

The important thing is now you realize what can happen and how much debt sucks. I am completely debt adverse now. In the past for me whether or not I could afford it was determined by whether or not I could get the money from somewhere to pay for it. Not anymore. It's like an alcoholic hitting rock bottom.