This is one of my favorite sayings that I have picked up from my wife. There have been times in our lives together that the money has been flowing not at freely as others and times that I have taken some menial job despite the fact that I have an MBA or working at minimum wage. Some might not even take the job, but I have always appreciated having the ability to work. When you are on a quest to eliminate your credit card debt you might have to take on a second job. Right now, my second job is as a cashier at a home improvement warehouse where I make as much as the high school graduate doing the same job.
Why?
Something is better than nothing. If I waited until I got a second job that paid what I was worth, I would still be waiting after five years (which is how long I have been working there). It isn't much, but it adds up. I have earned about $32,000 in five years (before taxes and all), and there are some important things to remember when you take on a part-time job, the most important has to do with many people's favorite subject:
Taxes.
If you aren't careful and have enough tax taken out on the front end, you will be in for a big surprise on the 15th of April the following year. You see, your second job doesn't figure taxes as if you were making any other money except for the job that they are paying you for. That means if you are making $8,000 in a year for your second job, they will only tax you as if you only made $8,000, and that is little if no tax, particularly if you have any dependents that you claim when it is time to fill out your taxes. Personally, I have them withhold at the higher single rate (since I am happily married) plus an extra $25 for federal and $20 for state tax. That may be a bit excessive, but I would much rather get a refund at tax time than owe anybody one stinkin' cent! You may not care and would rather have the money now than later. It is all a personal choice, but I figured that you would e best off knowing ahead of time.
Whatever you do, keep the faith and keep working off your credit card debt, it will be worth it!
Have a GREAT day!
Tuesday, June 30, 2009
Monday, June 29, 2009
Do You Have Any Money on Monday?
Some people get paid once a month (i.e. teachers), some people twice a month, some every other week, and some people weekly (i.e. certain Union workers). No matter when you get paid, do you ever have any money left a few days later, or are you like most people and your money is already spent for you when the weekend of pay period is over. Until my credit card debt is eliminated (and, it is less by $17,000 than it was a year ago), paycheck to paycheck is the way that life will continue to be lived. I have advocated a budget before, but let's take this time to revisit a sometimes unpleasant, but really quite necessary subject:
BUDGET!
"How do I make a budget?", you may ask. It is really quite simple and it takes a little bit of effort on your part. Start first by writing down everything that you spend your money on in an entire month. If you buy a piece of gum at the gas station when you fill up your vehicle with gasoline, write it down (don't forget to write the purchase of the gasoline either). When you buy a can of soda from the vending machine on your way out the door of Wal-Mart write that down. It is a bit of a tedious task, but it can develop some very helpful habits for you: You become more aware of what you are spending wherever you go, and you are developing the habit of building a budget. When your month is over, add up all of your expenses on one side of a sheet of paper and your income on the other side of the paper. Did you spend more than you had (credit cards) or did you have money left over?
If you are like most, you have more month left at the end of your money. See how you are wasting money on all of the trivial things and unnecessary things in your daily life. Do you really "need" the soda from the machine at work? Could you save money by buying a case of it at the store and taking it with you? Are you spending a fortune at the grocery store, but your cabinets are basically empty except for the 10 varieties of potato chips?
This is a good start. Tomorrow we will go into a little more detail on how to "flesh out" your budget. If you want a book that will help you to forever eliminate your credit card debt, click here.
Have a GREAT day!
BUDGET!
"How do I make a budget?", you may ask. It is really quite simple and it takes a little bit of effort on your part. Start first by writing down everything that you spend your money on in an entire month. If you buy a piece of gum at the gas station when you fill up your vehicle with gasoline, write it down (don't forget to write the purchase of the gasoline either). When you buy a can of soda from the vending machine on your way out the door of Wal-Mart write that down. It is a bit of a tedious task, but it can develop some very helpful habits for you: You become more aware of what you are spending wherever you go, and you are developing the habit of building a budget. When your month is over, add up all of your expenses on one side of a sheet of paper and your income on the other side of the paper. Did you spend more than you had (credit cards) or did you have money left over?
If you are like most, you have more month left at the end of your money. See how you are wasting money on all of the trivial things and unnecessary things in your daily life. Do you really "need" the soda from the machine at work? Could you save money by buying a case of it at the store and taking it with you? Are you spending a fortune at the grocery store, but your cabinets are basically empty except for the 10 varieties of potato chips?
This is a good start. Tomorrow we will go into a little more detail on how to "flesh out" your budget. If you want a book that will help you to forever eliminate your credit card debt, click here.
Have a GREAT day!
Sunday, June 28, 2009
Successful Sunday
Usually Sundays are a day that I can sleep in. Of course, by sleeping in, that means getting up at six o'clock AM instead of 4 o'clock AM. This Sunday, however, is a little bit different for a couple of reasons: 1)the store at which I work on the weekends is having one of it semi-annual store meetings (they provide free breakfast, one of my favorite meals of the day and we are paid for our time to be there -- a double bonus) and 2) I finally have my ebook Never Surrender!! available (a test run was made, and all of the links work, although some of the graphics may not).
A lot of time and effort went into the writing of that ebook and I would like to take the opportunity to thank everyone who assisted me in the writing of the ebook, especially my beautiful wife who has seen the back of my head more than anything for some time now. But the excitement is there that it has finally made it past all of the hurdles.
That has been a small goal for me lately, and it goes to show that even though you may have a definite goal in mind (such as credit card debt elimination), you can run into obstacles and hurdles that prevent you from getting there in exactly the fashion that you expect. Rather than quit at the first sign of difficulty (for me, it was linkage problems, a link wasn't leading people to where I wanted them to go), a solution was sought and eventually found. Some would have given up, but keeping the end in mind was essential.
You may have a challenge come up in your life too. You may have a goal of having $1,000 in the bank by a certain date. You make lifestyle changes and you make adjustments in your life and progress is slowly made. Then you get an unexpected expense, like a flat tire, a chipped tooth, or a trip to the doctor. These are only diversions, and you must remain focused on the prize because the goal is a good goal and you will be better in the long run because of it!
You can do it! Have a GREAT day!
A lot of time and effort went into the writing of that ebook and I would like to take the opportunity to thank everyone who assisted me in the writing of the ebook, especially my beautiful wife who has seen the back of my head more than anything for some time now. But the excitement is there that it has finally made it past all of the hurdles.
That has been a small goal for me lately, and it goes to show that even though you may have a definite goal in mind (such as credit card debt elimination), you can run into obstacles and hurdles that prevent you from getting there in exactly the fashion that you expect. Rather than quit at the first sign of difficulty (for me, it was linkage problems, a link wasn't leading people to where I wanted them to go), a solution was sought and eventually found. Some would have given up, but keeping the end in mind was essential.
You may have a challenge come up in your life too. You may have a goal of having $1,000 in the bank by a certain date. You make lifestyle changes and you make adjustments in your life and progress is slowly made. Then you get an unexpected expense, like a flat tire, a chipped tooth, or a trip to the doctor. These are only diversions, and you must remain focused on the prize because the goal is a good goal and you will be better in the long run because of it!
You can do it! Have a GREAT day!
Saturday, June 27, 2009
A Confession
Many of you have been following this blog for the last several months and you know that I advocate taking your food from home (it's less expensive and you know what it is that you are getting). Yesterday I ate dinner out. The rush was on to get the yard mowed in the extreme heat, get cooled off, and get to my weekday job in time. After work, I was going to spend the evening watching the rest of the Cardinals ball game at the RV. I managed to do that, but it was realized about halfway down to the campground (about an hour and a half away in good traffic) that there was no dinner packed for me. I easily could have spent $10.00 at Hardees, but that would have packed on the pounds. I did manage to drive by a Taco Bell and picked up a couple of $0.99 bean burritos. There was already a drink in the car, so I managed supper for a couple of bucks.
How often do we not think about the financial consequences of our actions. $8.00 was saved by doing that. If one meal a week is eaten that way, $416.00 could be saved in a year. If you were to charge that, and make minimum payments on the card over a year, it could easily have cost $500+. Personally, I would rather have the $500 even if it meant that I don't eat a Monster Burger and fries. You see, in order to have more money to pay down your credit card debt, or build your future, you have to have the long-term mindset.
Have a GREAT day!
How often do we not think about the financial consequences of our actions. $8.00 was saved by doing that. If one meal a week is eaten that way, $416.00 could be saved in a year. If you were to charge that, and make minimum payments on the card over a year, it could easily have cost $500+. Personally, I would rather have the $500 even if it meant that I don't eat a Monster Burger and fries. You see, in order to have more money to pay down your credit card debt, or build your future, you have to have the long-term mindset.
Have a GREAT day!
Friday, June 26, 2009
Where Does It All Go?
We have been working toward eliminating our credit card debt by saving money. How do we save the money? We keep track of all that we spend and eliminate the ways that are not productive. For example, I like to have an occasional adult beverage, particularly in the summer (and especially after the yard is mowed). If I were to go to a local establishment to purchase a beer, it would run $4.50 (depending on where you went).
Ouch!
Instead, I can purchase a case of 30 (which will last quite a while) at a store for around $0.60 a can. That means that I would save $3.90 per drink. If that case lasts the entire summer (and it may), I will have saved $117.00. Wow! And it saves me the gas to drive to an establishment and the time, yada, yada, yada. You see, it is the little things that add up.
That is why having a budget and keeping track is essential to gaining control of your finances. Rumor has it that when Michael Jackson passed away yesterday, he had amassed nearly $200 million in debt. Our credit card debt may not be anywhere near that amount, but when compared to our income, I am sure that some had nearly the same rate of debt. He didn't have control over his spending habits and it caused him financial worry. Everybody has the ability to gain a little more control over their finances, but you have to make a decision to be informed and willing to work at it. The good news?:
You CAN do it! Have a GREAT day!
Ouch!
Instead, I can purchase a case of 30 (which will last quite a while) at a store for around $0.60 a can. That means that I would save $3.90 per drink. If that case lasts the entire summer (and it may), I will have saved $117.00. Wow! And it saves me the gas to drive to an establishment and the time, yada, yada, yada. You see, it is the little things that add up.
That is why having a budget and keeping track is essential to gaining control of your finances. Rumor has it that when Michael Jackson passed away yesterday, he had amassed nearly $200 million in debt. Our credit card debt may not be anywhere near that amount, but when compared to our income, I am sure that some had nearly the same rate of debt. He didn't have control over his spending habits and it caused him financial worry. Everybody has the ability to gain a little more control over their finances, but you have to make a decision to be informed and willing to work at it. The good news?:
You CAN do it! Have a GREAT day!
Thursday, June 25, 2009
Small Victories Add Up!
When we get a small victory, take note and celebrate (if only in your mind). Recently, I reached a milestone on my online adventures. I participate in a program from Inbox Dollars that gives me a few cents for every email that I read, usually two or three every day. I have to run through my inbox every evening anyway, so it doesn't take up more than a minute of my time. When the account reaches $30, you can request a payout and that is precisely what was done the other night. I have reached it twice in one year. Now, $60 doesn't sound like much ammunition when you are attempting to eliminate your credit card debt, but it will be over $300 in five years. Would it make a difference if you got the lump sum of $300 on the front end? They way that I view it is that in the long term I am getting that money and it makes a difference. You can click on the banner at the bottom of today's post and join.
Inside that is a small victory. There are many small victories that are earned each and every day, but in the long run, they will add up to make a huge difference! As it is said that the journey of a thousand miles begins with but a single step, you have to decide to get on the path of ridding yourself of credit card debt and begin the task. It may seem a bit overwhelming when you finally confront it, but as you gain strength in dealing with it and look back, the task was not that difficult.
When you find a way to save $0.10 per can of soda by buying a case (which you will end up drinking in the end anyway), celebrate! When you decide to order a free glass of water at a dinner out instead of the $1.79 glass of soda, celebrate. When you decide to pay a bill online and save the $0.43 cents (or whatever postage stamps are today), celebrate. Add them all together and you have saved perhaps $5.00. Do that every week, and you have saved $260, and over five years you have saved $1,300! CELEBRATE!!
Have a GREAT day!
Inside that is a small victory. There are many small victories that are earned each and every day, but in the long run, they will add up to make a huge difference! As it is said that the journey of a thousand miles begins with but a single step, you have to decide to get on the path of ridding yourself of credit card debt and begin the task. It may seem a bit overwhelming when you finally confront it, but as you gain strength in dealing with it and look back, the task was not that difficult.
When you find a way to save $0.10 per can of soda by buying a case (which you will end up drinking in the end anyway), celebrate! When you decide to order a free glass of water at a dinner out instead of the $1.79 glass of soda, celebrate. When you decide to pay a bill online and save the $0.43 cents (or whatever postage stamps are today), celebrate. Add them all together and you have saved perhaps $5.00. Do that every week, and you have saved $260, and over five years you have saved $1,300! CELEBRATE!!
Have a GREAT day!
Wednesday, June 24, 2009
Credit Card Debt Isn't The End of the World
But sometimes it can bring it closer.
If you have a ton of credit card debt, digging out and ridding yourself of this beast can be a life-changing event. You may feel powerless to do anything about that debt. You are constantly being called by creditors that want their money. You leave your mail in piles (or throw it away) in fear of seeing how much your credit line has diminished, how many late fees have been added, and how many over-the-limit fees are tacked on as well. You get less sleep at night, and it is beginning to affect your personal life. People notice the change in you and begin to avoid you.
Take control of your life!
There is help and information available out there. The formula is simple: spend less than you make and use the extra cash to eliminate your credit card debt. When you combine saving with getting more money (visit my website) with saving money, it begins to gain momentum and you see your balances diminish and slowly disappear.
Be strong!
Know that you can do it and that others have eliminated their credit card debt as well. See what works for them and try it yourself. You may have to customize it to meet your particular needs, but do something. If it doesn't work: do something else!
Have a GREAT day!
If you have a ton of credit card debt, digging out and ridding yourself of this beast can be a life-changing event. You may feel powerless to do anything about that debt. You are constantly being called by creditors that want their money. You leave your mail in piles (or throw it away) in fear of seeing how much your credit line has diminished, how many late fees have been added, and how many over-the-limit fees are tacked on as well. You get less sleep at night, and it is beginning to affect your personal life. People notice the change in you and begin to avoid you.
Take control of your life!
There is help and information available out there. The formula is simple: spend less than you make and use the extra cash to eliminate your credit card debt. When you combine saving with getting more money (visit my website) with saving money, it begins to gain momentum and you see your balances diminish and slowly disappear.
Be strong!
Know that you can do it and that others have eliminated their credit card debt as well. See what works for them and try it yourself. You may have to customize it to meet your particular needs, but do something. If it doesn't work: do something else!
Have a GREAT day!
Tuesday, June 23, 2009
How To Save Money on a Birthday Party
After a while you learn to find ways that you can save on everything. Yesterday was my sister-in-law's birthday. She is developmentally disabled, but even at 39, her birthday is a very special day. She loves to go out to eat and she picked one of her favorite places to eat for her birthday. She had about ten of her friends from school and from her work at a sheltered workshop. They don't make a lot and so they didn't spend a lot on gifts, but that didn't matter to her. It was a very nice time and everybody enjoyed themselves and it didn't cost an arm and a leg.
Makes you wonder why one would spend hundreds, even thousands, on a birthday party for a child. My best birthdays were spent with family sharing a birthday cake (or pie, if you recall). I didn't need to eat at the best restaurant or have tons of the newest biggest toys that would be quickly forgotten or broken and discarded days later.
It is said that the best things in life are free. The cynic in me used to mutter, "yeah right", but that was back when I used credit cards and was quickly charging my way to a deep, deep debt problem: A problem I am dealing with to this day. I am confident that millions are out there now dealing with the same issue. You and I have seen a lot of changes going on because of the downturn in the economy. Just last week, I saw construction workers tearing down a fairly new BlockBuster store being dismantled. Brick and mortar stores are going by the wayside as people entertain themselves at home more and don't drive out to stores as much to rent movies, games, and things of the like.
You have to stay focused and save your own money and pay down the debt that you owe so that you can be free.
Have a GREAT day!
Makes you wonder why one would spend hundreds, even thousands, on a birthday party for a child. My best birthdays were spent with family sharing a birthday cake (or pie, if you recall). I didn't need to eat at the best restaurant or have tons of the newest biggest toys that would be quickly forgotten or broken and discarded days later.
It is said that the best things in life are free. The cynic in me used to mutter, "yeah right", but that was back when I used credit cards and was quickly charging my way to a deep, deep debt problem: A problem I am dealing with to this day. I am confident that millions are out there now dealing with the same issue. You and I have seen a lot of changes going on because of the downturn in the economy. Just last week, I saw construction workers tearing down a fairly new BlockBuster store being dismantled. Brick and mortar stores are going by the wayside as people entertain themselves at home more and don't drive out to stores as much to rent movies, games, and things of the like.
You have to stay focused and save your own money and pay down the debt that you owe so that you can be free.
Have a GREAT day!
Monday, June 22, 2009
Saving Money In a Way You Don't Think About Often
The quest to save money in order to pay down credit card debt hopefully has you thinking of creative ways to think of saving money. You, of course, know about the use of coupons, watching for the best deal, and even asking stores if they will give you a lower price. You are also beginning to buy some things in bulk when you know the per-item price is lower. One opportunity presented itself a few days ago, and it is realized that this way may not be the way that best works for your particular situation. This is an area that not everybody thinks about and not everybody does. It does for me...
...shaving.
I have the habit of shaving everyday (despite the fact that I have a goatee). I already save money by not purchasing the expensive razors or shaving cream. I figured that I spent$30.55 per year on shaving. You may spend more, but I was using my figures, tax not included. I bought an electric razor. They run in price from $29.99 all the way to $179.99 at the store that I was shopping at during my lunch hour from my weekend job. I erred on the side of lower cost and didn't buy the least expensive one, but I bought one that cost $39.99. I figured that if it lasts for 15.71 months, it will pay for itself. Since there was a two-year warranty on it, I saved $21.11, or $10.56 a month. Had a more expensive one been purchased, it would have taken longer to break even.
Is there something that you could purchase to replace something else that if disposable? Perhaps.
Have a GREAT day!
...shaving.
I have the habit of shaving everyday (despite the fact that I have a goatee). I already save money by not purchasing the expensive razors or shaving cream. I figured that I spent$30.55 per year on shaving. You may spend more, but I was using my figures, tax not included. I bought an electric razor. They run in price from $29.99 all the way to $179.99 at the store that I was shopping at during my lunch hour from my weekend job. I erred on the side of lower cost and didn't buy the least expensive one, but I bought one that cost $39.99. I figured that if it lasts for 15.71 months, it will pay for itself. Since there was a two-year warranty on it, I saved $21.11, or $10.56 a month. Had a more expensive one been purchased, it would have taken longer to break even.
Is there something that you could purchase to replace something else that if disposable? Perhaps.
Have a GREAT day!
Sunday, June 21, 2009
Father's Day
Financial wisdom comes from a blend of teachings from my father (which, unfortunately, were largely unheeded) and life experiences of trial and error (or, as Zig Ziglar would say, trial and success). My father is very smart and wise when it comes to money. Money was a bit of a taboo subject in our house and we would rarely talk about it.
I never saw the tough times or ever thought that there was a challenge with money because it was never brought up to anybody.
Looking back, it does sort of make sense. My dad didn't have a credit card when I was growing up: If he didn't have the cash for something right then (and we didn't need it), we simply didn't buy it. Period. There was very little impulse buying. We only went out to eat on kid's birthdays and so special meals were often prepared at home (mom is great about making meals at home). Birthday cakes were made, not bought (although as my brother and I got older, we asked for banana cream pie instead of cake). Presents were not the extravagant kind of gifts that now are more popular, At Christmas, we would usually get one toy and some more practical things like clothes.
Dad lived a frugal lifestyle without coming across as cheap.
I am letting my son see my struggles so that he will know that credit cards can so easily entrap you into paying a lot more for something that you may want, but not necessarily need. I think he sees the message.
Happy Father's Day and have a GREAT day!
I never saw the tough times or ever thought that there was a challenge with money because it was never brought up to anybody.
Looking back, it does sort of make sense. My dad didn't have a credit card when I was growing up: If he didn't have the cash for something right then (and we didn't need it), we simply didn't buy it. Period. There was very little impulse buying. We only went out to eat on kid's birthdays and so special meals were often prepared at home (mom is great about making meals at home). Birthday cakes were made, not bought (although as my brother and I got older, we asked for banana cream pie instead of cake). Presents were not the extravagant kind of gifts that now are more popular, At Christmas, we would usually get one toy and some more practical things like clothes.
Dad lived a frugal lifestyle without coming across as cheap.
I am letting my son see my struggles so that he will know that credit cards can so easily entrap you into paying a lot more for something that you may want, but not necessarily need. I think he sees the message.
Happy Father's Day and have a GREAT day!
Saturday, June 20, 2009
Are You a Fan of Fans?
The journey to eliminate credit card debt for many involves a trip down the road of saving money, money that is otherwise wasted but, once saved, can be used to pay down the credit card debt. Yesterday we discussed the use of programmable thermostats and how having your house (in the summer) warmer for the times that you are not home can save you lots of fleeting money. Let's take that a step further.
Houses built today are fairly sterile as far a air flow is concerned. I recall opening my window on a warm summer evening and my father turning on the attic fan to draw air into the house and save us from having to turn on the air conditioner. My grandparents had little use for an air conditioner because they used fans to move the air and to keep things cooler, at least they seemed cooler.
Nowadays, we make use of the ceiling fans to keep it more comfortable even though the temperature is higher (again, we are talking about summertime). The breeze that is caused by the ceiling fan fools your body into thinking that it is cooler than it is (technically, it has to do with evaporation of water from the skin, but lets save that for a physics blog). We have become so spoiled that if the temperature isn't 71 degrees at all times, there are complaints of being too hot or too cold. My suggestion is to make use of fans (which use considerably less electricity than do air conditioners) and keep, in the summer, the temperature at a higher level than you would otherwise keep it. Your pocketbook/wallet will thank you for that.
Have a GREAT day!
Houses built today are fairly sterile as far a air flow is concerned. I recall opening my window on a warm summer evening and my father turning on the attic fan to draw air into the house and save us from having to turn on the air conditioner. My grandparents had little use for an air conditioner because they used fans to move the air and to keep things cooler, at least they seemed cooler.
Nowadays, we make use of the ceiling fans to keep it more comfortable even though the temperature is higher (again, we are talking about summertime). The breeze that is caused by the ceiling fan fools your body into thinking that it is cooler than it is (technically, it has to do with evaporation of water from the skin, but lets save that for a physics blog). We have become so spoiled that if the temperature isn't 71 degrees at all times, there are complaints of being too hot or too cold. My suggestion is to make use of fans (which use considerably less electricity than do air conditioners) and keep, in the summer, the temperature at a higher level than you would otherwise keep it. Your pocketbook/wallet will thank you for that.
Have a GREAT day!
Friday, June 19, 2009
Programmable Thermostats: Well Worth The Investment
One of the best money-saving items that we have invested in was a programmable thermostat. You can find one at stores like Home Depot and Lowe's for anywhere from $29.00 to $99.00. We have saved a lot of money because of our work schedules, the thermostat has the house temperature where we would like it to be. Ten years ago, we would set the temperature, if we remembered, to be (in the summer) a bit warmer in the house during the daytime and turn it down when we got home at night. Sometimes we forgot so the house would be cooled to 70 degrees during the day when there was nobody home to enjoy it. That was money out the window, so to speak.
The nice thing about the programmable thermostat is that it is accurate, easy to install, and quite the money saver. During the summer, we now keep the house at 85 degrees or warmer during the day. Why pay to cool the house when some of us sit in air conditioning at our day jobs? There is nobody here to enjoy it. If one of us happens to be off during the day, we can always override the temperature and make it more bearable. We have it programmed to cool the house to 78 degrees a half an hour before we get home.
Wait a minute! Did you say 78 degrees (in the summertime)?
Yes. There are ceiling fans to stir the air and make it more enjoyable, and, when the bill comes each month, the lower bill makes it all the more worthwhile! Also using newer appliances that are Energy Star rated will save money because they are more energy efficient and are better for the environment.
Every little bit adds up to more money for you: money to help pay down your credit card debt or have for living your dreams. Have a GREAT day!
The nice thing about the programmable thermostat is that it is accurate, easy to install, and quite the money saver. During the summer, we now keep the house at 85 degrees or warmer during the day. Why pay to cool the house when some of us sit in air conditioning at our day jobs? There is nobody here to enjoy it. If one of us happens to be off during the day, we can always override the temperature and make it more bearable. We have it programmed to cool the house to 78 degrees a half an hour before we get home.
Wait a minute! Did you say 78 degrees (in the summertime)?
Yes. There are ceiling fans to stir the air and make it more enjoyable, and, when the bill comes each month, the lower bill makes it all the more worthwhile! Also using newer appliances that are Energy Star rated will save money because they are more energy efficient and are better for the environment.
Every little bit adds up to more money for you: money to help pay down your credit card debt or have for living your dreams. Have a GREAT day!
Thursday, June 18, 2009
How To Save Money at the Ballpark
In a quest to save money and more quickly pay down my credit card debt, there is a lot of time devoted to looking for ways to save money. Taking time to plan is a way to ensure that you can save money yourself. I make no bones about it, I like to go see the Cardinals in action. My father-in-law bought a package of tickets that are mid-week games and got a good deal on them. About every other week we head down to the ballpark to watch the action. Parking there is $20 a shot. Sure, we could save money by parking further away, but we usually don't make it until the first inning because of my work schedule and we don't want to miss more of the game.
When we first started going to the game, we ate at the ball park. That is at least $12.00 a person. Then we started planning a bit and now we have plenty to eat for about $15.00 altogether (there are three tickets and four people, so somebody has to stay at home). Rather than get a hamburger, fries and a drink at the stadium, we now will get two Subway foot long sandwiches and a trio of sodas from the refrigerator. Yes, it is a bit of a hassle to have to wait for the gatekeepers to inspect our coolers, but the money saving is well worth it. We also used to go to get custard, but for time, weight management, and money savings, we go only once in a blue moon.
Perhaps there are ways that you can still enjoy some of your favorite summertime activities and find ways to do them for less money. Use the savings to pay down your credit card debt, or, at least, to save for bigger items.
Have a GREAT day!
When we first started going to the game, we ate at the ball park. That is at least $12.00 a person. Then we started planning a bit and now we have plenty to eat for about $15.00 altogether (there are three tickets and four people, so somebody has to stay at home). Rather than get a hamburger, fries and a drink at the stadium, we now will get two Subway foot long sandwiches and a trio of sodas from the refrigerator. Yes, it is a bit of a hassle to have to wait for the gatekeepers to inspect our coolers, but the money saving is well worth it. We also used to go to get custard, but for time, weight management, and money savings, we go only once in a blue moon.
Perhaps there are ways that you can still enjoy some of your favorite summertime activities and find ways to do them for less money. Use the savings to pay down your credit card debt, or, at least, to save for bigger items.
Have a GREAT day!
Wednesday, June 17, 2009
PMA: Developing The Habit
A Positive Mental Attitude is essential to success when it comes to your life and when it comes to eliminating your credit card debt. Some people mistakenly assume that you have to think that they have to walk around the whole time of their life with a smile on your face, say that "everything is great" (even with your world crumbling down, and always be peppy. That may be perfect for a select few, but
I am a realist.
Some may say that if a 16 ounce glass has 8 ounces of water in it that, if you are a pessimist, the glass is half empty. Somebody else will look at that same glass and say, if they are an optimist, that the glass is half full. I will look at the glass and say that the glass is the wrong size. The same exercise can be used with credit cards. You may have the ability to keep up with your monthly payments so you may look at how much credit line you have left. Or, you may look and see how much debt is piling up.
Sometimes you have to step back and ask yourself what the heck is going on. Credit cards can be a trap for many people and it may take them years to develop the habit of not using credit cards except in an emergency. Developing that type of habit can take time. Having a positive mental attitude to help you attract the things that you want in life takes time as well. Start small, if you must by writing down a small goal and work toward that. Make it attainable and achievable and when you tackle that goal, move on to another one that is slightly more challenging for you and that will build on the strength that you developed earlier. The pattern of success will help "train" you to become more and more successful.
Keep working at it and have a GREAT day!
I am a realist.
Some may say that if a 16 ounce glass has 8 ounces of water in it that, if you are a pessimist, the glass is half empty. Somebody else will look at that same glass and say, if they are an optimist, that the glass is half full. I will look at the glass and say that the glass is the wrong size. The same exercise can be used with credit cards. You may have the ability to keep up with your monthly payments so you may look at how much credit line you have left. Or, you may look and see how much debt is piling up.
Sometimes you have to step back and ask yourself what the heck is going on. Credit cards can be a trap for many people and it may take them years to develop the habit of not using credit cards except in an emergency. Developing that type of habit can take time. Having a positive mental attitude to help you attract the things that you want in life takes time as well. Start small, if you must by writing down a small goal and work toward that. Make it attainable and achievable and when you tackle that goal, move on to another one that is slightly more challenging for you and that will build on the strength that you developed earlier. The pattern of success will help "train" you to become more and more successful.
Keep working at it and have a GREAT day!
Tuesday, June 16, 2009
Belief: The Secret Ingredient
Yesterday, we talked about how a positive mental attitude is a great tool to help you achieve your goal of eliminating your credit card debt. It isn't just a tool that will serve you to achieve that goal, but it can bleed over to any aspect of your life. When studying positive mental attitude in my life, I have noticed one key ingredient:
Belief.
You have to first believe that you will achieve what you are going to achieve. It may be a goal of losing a certain amount of weight, it may be to have a certain amount of money in your checking account, it may be what we have talked about here at this blog for the past 100+ days, eliminating your credit card debt. There is a saying that goes, "whether you believe you can, or believe you can't, you are right."
It seems that when you believe something, subconsciously you begin to align yourself with actions, habits, and surroundings that will make it more of a reality. For example, if you believe whole-heartedly that you can write a book. you will start to notice how others write their books. You may read more. You may notice an article on ezinearticles.com. Perhaps you submit an article there and you get the idea on what you want your book to be about. You start to keep a notebook about the points that your book will cover. Then you create a rough sketch outline. Then you fill it in. The next thing you know, you have a book on your hands (mine will be available soon at www.money-for-my-life.com ).
You see, you gotta believe, and the rest will "magically" take care of itself. Be careful and do not mistake "like" with "belief". There is a difference between saying "I would like to earn $1,000" and "I believe I will earn $1,000." Can you spot the difference?
Have a GREAT day! Believe in yourself!
Belief.
You have to first believe that you will achieve what you are going to achieve. It may be a goal of losing a certain amount of weight, it may be to have a certain amount of money in your checking account, it may be what we have talked about here at this blog for the past 100+ days, eliminating your credit card debt. There is a saying that goes, "whether you believe you can, or believe you can't, you are right."
It seems that when you believe something, subconsciously you begin to align yourself with actions, habits, and surroundings that will make it more of a reality. For example, if you believe whole-heartedly that you can write a book. you will start to notice how others write their books. You may read more. You may notice an article on ezinearticles.com. Perhaps you submit an article there and you get the idea on what you want your book to be about. You start to keep a notebook about the points that your book will cover. Then you create a rough sketch outline. Then you fill it in. The next thing you know, you have a book on your hands (mine will be available soon at www.money-for-my-life.com ).
You see, you gotta believe, and the rest will "magically" take care of itself. Be careful and do not mistake "like" with "belief". There is a difference between saying "I would like to earn $1,000" and "I believe I will earn $1,000." Can you spot the difference?
Have a GREAT day! Believe in yourself!
Monday, June 15, 2009
PMA: Keep Fueling Your Positive Mental Attitude
It isn't just for eliminating your credit card debt. There are many other applications that it can be used for. It just so happens that we talk about saving money and eliminating your credit card debt in this blog. But one tool that can be used here is one tool that will serve you in all of life:
Positive Mental Attitude.
This was one of the earliest lessons that I learned in my adult life. There was a trumpet instructor at the University of Arkansas where I earned my bachelor's degree in music education. He was the type of guy that you loved to be around. He always had something encouraging to say and you always left his presence feeling better than when you were feeling before he came around.
One day, he invited several of us to go to Oklahoma with him to an Amway meeting. There was a room filled with 500+ enthusiastic people and the feeling was quite contagious. It was at that time that I learned the importance of filling your mind with lots of positive things, and I picked up a book (which I still have to this day) by Napoleon Hill called "Success Through A Positive Mental Attitude". The book told of the success that you could enjoy by employing several techniques for keeping a positive mental attitude.
This book and many others are ones that are referred to by myself that help to keep my focus on having a positive outlook and succeeding. It even helps as I continue to grow my Internet presence and work toward financial independence as many others have dreamed of as well. One thing that I have learned is that there is a difference between dreaming of a successful life and having goal. Goals are just dreams with plans.
Succeed in planning and you will develop a plan to succeed. Have a GREAT day!
Positive Mental Attitude.
This was one of the earliest lessons that I learned in my adult life. There was a trumpet instructor at the University of Arkansas where I earned my bachelor's degree in music education. He was the type of guy that you loved to be around. He always had something encouraging to say and you always left his presence feeling better than when you were feeling before he came around.
One day, he invited several of us to go to Oklahoma with him to an Amway meeting. There was a room filled with 500+ enthusiastic people and the feeling was quite contagious. It was at that time that I learned the importance of filling your mind with lots of positive things, and I picked up a book (which I still have to this day) by Napoleon Hill called "Success Through A Positive Mental Attitude". The book told of the success that you could enjoy by employing several techniques for keeping a positive mental attitude.
This book and many others are ones that are referred to by myself that help to keep my focus on having a positive outlook and succeeding. It even helps as I continue to grow my Internet presence and work toward financial independence as many others have dreamed of as well. One thing that I have learned is that there is a difference between dreaming of a successful life and having goal. Goals are just dreams with plans.
Succeed in planning and you will develop a plan to succeed. Have a GREAT day!
Sunday, June 14, 2009
Can Credit Card Debt Elimination Happen In A Timely Matter?
That's a question that is answered by: "It Depends." It depends on a combination of things:
*Your Ability To Pay at Least the Minimum Monthly Payment in a Timely Matter - If you are having a difficult time making your minimum payment on all of your credit cards, you might have to look at getting a higher paying job, getting a second job, getting a loan from a bank (with poor credit, that may be easier said than done), getting a loan from family (unless they have none to loan), getting a loan from friends, or, when all else fails, seeking professional help
*Your Ability To Stay Employed - In these tough financial times, it may be difficult to keep your job. There have been times where I have not been as fully employed as I could have been, but I have always been willing to work, even if it meant that I was doing something "below" my abilities. After all, "Oatmeal is Better Than No Meal".
*Your Desire To Get Out of Credit Card Debt - Sometimes you have to keep a PMA (positive mental attitude, but "Where There's a Will, There's a Way" has never rang more true. Once you decide to do something, subconsciously, you cut yourself off from all other possibilities and you find ways to make it happen.
Hang in there, Have a GREAT day!
*Your Ability To Pay at Least the Minimum Monthly Payment in a Timely Matter - If you are having a difficult time making your minimum payment on all of your credit cards, you might have to look at getting a higher paying job, getting a second job, getting a loan from a bank (with poor credit, that may be easier said than done), getting a loan from family (unless they have none to loan), getting a loan from friends, or, when all else fails, seeking professional help
*Your Ability To Stay Employed - In these tough financial times, it may be difficult to keep your job. There have been times where I have not been as fully employed as I could have been, but I have always been willing to work, even if it meant that I was doing something "below" my abilities. After all, "Oatmeal is Better Than No Meal".
*Your Desire To Get Out of Credit Card Debt - Sometimes you have to keep a PMA (positive mental attitude, but "Where There's a Will, There's a Way" has never rang more true. Once you decide to do something, subconsciously, you cut yourself off from all other possibilities and you find ways to make it happen.
Hang in there, Have a GREAT day!
Saturday, June 13, 2009
A Centennial Celebration
Today marks the 100th post to this blog. Thanks for stopping by. We have looked at ways to help eliminate your credit card debt and the main focus has been on finding ways that money has been slipping through your fingers and driving you deeper in dept. Perhaps you haven't had as much control over your spending as you would like to have had (guilty). Perhaps you have been maxing out your credit cards and shuffling between payments and even using the "free checks" that come with your statement to pay the minimum on a different credit card (guilty).
It takes a conscious effort to change your habits and use credit more wisely (or or not at all).
It can be a daunting task to stop cold turkey and that it exactly what some people do. They say to themselves, "I am not going to use my credit cards any more". They cut them up, and that is that. Some people wait until there is no credit left to use. Either way, change (in this case) is good. You need to take a stand and not let yourself be run over by credit card debt any longer!
How?
Educate yourself. Seek advice from others. Negotiate. Pay your bills on time. Seek help, if necessary. The important thing to know is that you have the power to get out of credit card debt and break free of the chains that bind you.
Thanks, and have a GREAT day!
It takes a conscious effort to change your habits and use credit more wisely (or or not at all).
It can be a daunting task to stop cold turkey and that it exactly what some people do. They say to themselves, "I am not going to use my credit cards any more". They cut them up, and that is that. Some people wait until there is no credit left to use. Either way, change (in this case) is good. You need to take a stand and not let yourself be run over by credit card debt any longer!
How?
Educate yourself. Seek advice from others. Negotiate. Pay your bills on time. Seek help, if necessary. The important thing to know is that you have the power to get out of credit card debt and break free of the chains that bind you.
Thanks, and have a GREAT day!
Friday, June 12, 2009
Grocery Savings
Saving money is one of the reasons behind this blog and the reason for saving money has been to have more money in order to more quickly pay off your credit card debt. I must apologize because an assumption was made that everyone must be in credit card debt since I was (yes, that is a bit of egocentric behavior there). In these trying economic times, it has been difficult for many to get by or save money. It has been noticed in the way that stores advertise, how people are striving for bargains more than ever.
I used to be somewhat of a snob when it came to grocery store choices. There are three large local grocery store chains in the region in which I live. One was known for its customer service, but the prices were a little elevated. Another had grown on its strength for having a little less in the quality department, but was more middle-of-the-road price--wise. Then there was the third which was more value driven and you had to bag your own groceries. It was the latter one that I rarely, if ever, frequented.
Now I shop there almost exclusively.
Here's why: they have improved the quality of their selection, but most Thursdays they offer a $1o off, no coupon day. Basically, if you spend $50 and more there on Thursday, they will knock $10 off your bill. If you spend $50, you will save 20%. If you spend $100, it is 10%. I shop with a list (a strategy that is recommended as a way to control spending) and do my best to keep my total as near $50 as possible. Of course, things like milk, eggs, and alcohol are excluded. They give you a receipt that shows how much you saved by posting the suggested retail price and show you how much you saved over all.
When I sat down this morning to enter the money into my check register, I saw how much I had saved. I spent (after $10 off) $51.33 for groceries for about two, maybe three weeks. My savings were $33.42 or around 40%. That's not too bad a deal. After all, food is just fuel for he body.
Becoming thrifty does change how you will view things and train your eyes to look for the bargains. After all, it is your hard-earned money that you are spending and you might as well get the most bang for your buck.
Have a GREAT day!
I used to be somewhat of a snob when it came to grocery store choices. There are three large local grocery store chains in the region in which I live. One was known for its customer service, but the prices were a little elevated. Another had grown on its strength for having a little less in the quality department, but was more middle-of-the-road price--wise. Then there was the third which was more value driven and you had to bag your own groceries. It was the latter one that I rarely, if ever, frequented.
Now I shop there almost exclusively.
Here's why: they have improved the quality of their selection, but most Thursdays they offer a $1o off, no coupon day. Basically, if you spend $50 and more there on Thursday, they will knock $10 off your bill. If you spend $50, you will save 20%. If you spend $100, it is 10%. I shop with a list (a strategy that is recommended as a way to control spending) and do my best to keep my total as near $50 as possible. Of course, things like milk, eggs, and alcohol are excluded. They give you a receipt that shows how much you saved by posting the suggested retail price and show you how much you saved over all.
When I sat down this morning to enter the money into my check register, I saw how much I had saved. I spent (after $10 off) $51.33 for groceries for about two, maybe three weeks. My savings were $33.42 or around 40%. That's not too bad a deal. After all, food is just fuel for he body.
Becoming thrifty does change how you will view things and train your eyes to look for the bargains. After all, it is your hard-earned money that you are spending and you might as well get the most bang for your buck.
Have a GREAT day!
Thursday, June 11, 2009
We All Have The Same Amount of Time
Yet, time seems to be the one thing besides money that we never seem to have enough of. As people most of us seem to have mastered the art of multi-tasking, or doing more than one thing at the same time. There are times when we take our laptop to the dinner table to finish reading or researching something interesting on the Internet while we mindlessly shove some food into our mouths. Or we catch up on our e-mail on our mobile device in a meeting at work or on our break at work.
In striving to eliminate our credit card debt it has been mentioned that we need to develop a single-mindedness of purpose, but seeing that many of us do more than one thing at the same time, perhaps we need to devote one or more of our streams of consciousness for that goal. While shopping, for example, there should be a steady stream of thought of how money can be saved that can, in turn, be used to pay off credit cards.
The more that you can save, the sooner you can be out of debt. The sooner you are out of debt, the sooner that you can begin to live your life wisely and freely. There will be challenges, but save that nickel here, that dime there, and those cents will grow to dollars which will help you to live your life the way that you want.
Have a GREAT day! and be successful!
In striving to eliminate our credit card debt it has been mentioned that we need to develop a single-mindedness of purpose, but seeing that many of us do more than one thing at the same time, perhaps we need to devote one or more of our streams of consciousness for that goal. While shopping, for example, there should be a steady stream of thought of how money can be saved that can, in turn, be used to pay off credit cards.
The more that you can save, the sooner you can be out of debt. The sooner you are out of debt, the sooner that you can begin to live your life wisely and freely. There will be challenges, but save that nickel here, that dime there, and those cents will grow to dollars which will help you to live your life the way that you want.
Have a GREAT day! and be successful!
Wednesday, June 10, 2009
Credit Card Debt, Don't Let It Get You Down, cont.
Yesterday's post was perhaps a glimpse of the darker side of credit card debt and the strive to eliminate that credit card debt. It is amazing what a few hours of sleep will do for the soul. Still the fight must be fought and the road is long, but there is always a dash of hope that comes with rest and reflection.
As we near the century mark of posts to this blog, there are thanks to be handed out. Being a proud man, it is often difficult to admit when others have helped along the way. First and foremost is my wife, who has believed in me even though financially I have unwittingly drug her down into my financial mess. For her steadfastness, I love and appreciate her, even though my actions don't always demonstrate that. I do. My son, whom I believe in tremendously and have let down as well. I pray that he will learn some of the lessons about credit and money that I have bull-headedly learned on my own. My parents, who taught me much with my life and whom I never really thanked. They tried to warn me, but, being the proverbial black sheep of the family I had to find out on my own.
What a bitter lesson I have learned.
My hope is that you can learn from my mistakes as well and live your life to its fullest by using your credit wisely, paying your bills on time every time, and not wasting money on things that don't mean much in the long term.
Have a GREAT day!
As we near the century mark of posts to this blog, there are thanks to be handed out. Being a proud man, it is often difficult to admit when others have helped along the way. First and foremost is my wife, who has believed in me even though financially I have unwittingly drug her down into my financial mess. For her steadfastness, I love and appreciate her, even though my actions don't always demonstrate that. I do. My son, whom I believe in tremendously and have let down as well. I pray that he will learn some of the lessons about credit and money that I have bull-headedly learned on my own. My parents, who taught me much with my life and whom I never really thanked. They tried to warn me, but, being the proverbial black sheep of the family I had to find out on my own.
What a bitter lesson I have learned.
My hope is that you can learn from my mistakes as well and live your life to its fullest by using your credit wisely, paying your bills on time every time, and not wasting money on things that don't mean much in the long term.
Have a GREAT day!
Tuesday, June 9, 2009
Credit Card Debt, Don't Let It Get You Down
Sometimes it is easier said than done. When it seems overwhelming, it is hard to stand up and stand your ground. This has been a trying time lately for me. The possibility of filing for bankruptcy, which has been avoided for the last ten years, is looming ever larger and ever more powerful.
If I can help it, I don't want to go down that road.
Bankruptcy stays on your credit for seven years. My credit already leave a lot to be desired, and, if you have ever missed credit card payments, overdrawn your checking account, or any other financial stumble, your credit score is probably less than stellar. I have resisted asking for debt because I am a proud man. A pride cometh before a fall.
I am not a loser, except when it comes to managing my own finances. Always secretive, it has come around to bite me in the butt (so to speak). My intention has always been to take care of my own, but I am not as able to continue as I once was. Bob Seger summed it up in Against The Wind "We're just older now and still running against the wind.". Perhaps one of the darkest things I can ever recall is the speech that Chief Joseph of the Nez Perce gave at his surrender "..I am tired. My heart is sick and sad. From where the sun now stands, I will fight no more forever."
That is why I have written Never Surrender, A Practical Guide to Forever Eliminating Your Credit Card Debt. It will be available next week. Sign up on the right of the blog to be notified of its availability. Have a GREAT day!
If I can help it, I don't want to go down that road.
Bankruptcy stays on your credit for seven years. My credit already leave a lot to be desired, and, if you have ever missed credit card payments, overdrawn your checking account, or any other financial stumble, your credit score is probably less than stellar. I have resisted asking for debt because I am a proud man. A pride cometh before a fall.
I am not a loser, except when it comes to managing my own finances. Always secretive, it has come around to bite me in the butt (so to speak). My intention has always been to take care of my own, but I am not as able to continue as I once was. Bob Seger summed it up in Against The Wind "We're just older now and still running against the wind.". Perhaps one of the darkest things I can ever recall is the speech that Chief Joseph of the Nez Perce gave at his surrender "..I am tired. My heart is sick and sad. From where the sun now stands, I will fight no more forever."
That is why I have written Never Surrender, A Practical Guide to Forever Eliminating Your Credit Card Debt. It will be available next week. Sign up on the right of the blog to be notified of its availability. Have a GREAT day!
Monday, June 8, 2009
Say Brother, Can You Spare A Dime?
Every penny, every nickel, every dime can add up to help you in your quest to eliminate credit card debt. When you can save a few cents, put those few cents aside to pay off the credit card debt. Added up, over time, you realize that the money could have made a huge difference. Here is a case in point:
On the way to work (about a 25 mile commute) I pass by many gas stations. Three of them are gas stations that participate in the Upromise program in which it will deposit into my account, that is set up for my son, one cent ($0.01) for every gallon of gas purchased. I have had it for about seven years. It has added up to be over $50.00. It would have been more, but I didn't always purchase my gasoline there. Because I rarely carry cash, I had been passing off another gas station that give a $0.03 cent per gallon discount for cash. I definitely pass this gas station every day, so a point has been made to have $30 in cash around fill up time. That would add up to $588.00 over 20 years. If I could twenty things to save a few cents (3) on each week, in that same 20 years, I would have an extra $11,760.
That isn't chump change. Every little bit helps, don't let people kid you into thinking that it doesn't. One of the things that I learned while working for a major telecom as a consumer sales agent was to present a feature as costing just a few cents a day. The customer didn't realize that we were, in fact, milking hundreds of dollars a year from consumers. That's how companies do that and manage to stay viable.
Be vigilant, be thrifty, and have a GREAT day!
On the way to work (about a 25 mile commute) I pass by many gas stations. Three of them are gas stations that participate in the Upromise program in which it will deposit into my account, that is set up for my son, one cent ($0.01) for every gallon of gas purchased. I have had it for about seven years. It has added up to be over $50.00. It would have been more, but I didn't always purchase my gasoline there. Because I rarely carry cash, I had been passing off another gas station that give a $0.03 cent per gallon discount for cash. I definitely pass this gas station every day, so a point has been made to have $30 in cash around fill up time. That would add up to $588.00 over 20 years. If I could twenty things to save a few cents (3) on each week, in that same 20 years, I would have an extra $11,760.
That isn't chump change. Every little bit helps, don't let people kid you into thinking that it doesn't. One of the things that I learned while working for a major telecom as a consumer sales agent was to present a feature as costing just a few cents a day. The customer didn't realize that we were, in fact, milking hundreds of dollars a year from consumers. That's how companies do that and manage to stay viable.
Be vigilant, be thrifty, and have a GREAT day!
Sunday, June 7, 2009
Negotiating Credit Card Debt Help
There may come a time when a credit card company is tired of waiting for your money and they will sue you. You may have been asking them to provide substantiation of the debt, but they hadn't been responding. One day, a stranger may come calling on you and give you a summons to appear in court. At that point you may feel a bit overwhelmed.
Help is actually around.
I had earlier gotten a letter from a mediation firm stating that there was to be a court action against me soon. I fished out that piece of mail and gave them a call. Seems there was a company that was representing a credit card that I had once used that was now actively pursuing the money from me. They stated that the balance owed was $9,000 and were taking me to court about it.
I showed up to court and asked for a continuance (especially since I had just been given the summons a few days prior). Visions of wage garnishment and such were running through my head. It was a total feeling of panic.
That's where the mediator came in.
We met and discussed my earnings, my expenses, etc. The mediator put together a proposal (after a fee was paid) and there was a voice mail a few days later that they would settle for a lump sum payment of $5,600. I was saved, after taxes and expenses, around $1,500. It wasn't exactly what I wanted, but better than the alternative.
My advice: Be careful, be open to all options, and use your head. Have a GREAT day!!
Help is actually around.
I had earlier gotten a letter from a mediation firm stating that there was to be a court action against me soon. I fished out that piece of mail and gave them a call. Seems there was a company that was representing a credit card that I had once used that was now actively pursuing the money from me. They stated that the balance owed was $9,000 and were taking me to court about it.
I showed up to court and asked for a continuance (especially since I had just been given the summons a few days prior). Visions of wage garnishment and such were running through my head. It was a total feeling of panic.
That's where the mediator came in.
We met and discussed my earnings, my expenses, etc. The mediator put together a proposal (after a fee was paid) and there was a voice mail a few days later that they would settle for a lump sum payment of $5,600. I was saved, after taxes and expenses, around $1,500. It wasn't exactly what I wanted, but better than the alternative.
My advice: Be careful, be open to all options, and use your head. Have a GREAT day!!
Saturday, June 6, 2009
Help Getting Out of Credit Card Debt
Face it. You have to charge less than you are paying off. Bottom line. Freeing up extra money on an ongoing basis is key to achieving this. Yesterday, we discussed a bit about automobiles. It was revealed that a used card will cost less because it is, well, used. But you don't lose nearly the amount of money that you would (buying new) when you leave the car lot.
Too often people are driven only by "How much will it cost per month?" This kind of thinking is so short-term that it is frightening when you actually take the time to do some of the math. Sure, it only costs $250 dollars a month. The sticker price may say $10,999. "I can afford that", you say. A new car loan can often be rolled into a package that is for 72 months, or six years. Most people don't keep a car for four years, so if you trade it in, your car may only be worth $3,000 after four years. You still owe $6,000 on that car. You are now upside down on the car and a dealer would be happy to roll that into your new car purchase. Now, you will have a very difficult time getting out from being upside down.
If you did keep your car for the full six years, that $10,999 car would have cost you $18,000. Guess who pockets the extra $7,001? It isn't you. With a used car, you loan is for a shorter term, you pay less up front, and somebody else has already taken the depreciation hit on it.
All I have to say is that you need to think with your head and not your heart. Do your homework and you will thank yourself for that in the long term. Have a GREAT day! (visit my website, the book Never Surrender is scheduled for release on June 14, 2009)
Too often people are driven only by "How much will it cost per month?" This kind of thinking is so short-term that it is frightening when you actually take the time to do some of the math. Sure, it only costs $250 dollars a month. The sticker price may say $10,999. "I can afford that", you say. A new car loan can often be rolled into a package that is for 72 months, or six years. Most people don't keep a car for four years, so if you trade it in, your car may only be worth $3,000 after four years. You still owe $6,000 on that car. You are now upside down on the car and a dealer would be happy to roll that into your new car purchase. Now, you will have a very difficult time getting out from being upside down.
If you did keep your car for the full six years, that $10,999 car would have cost you $18,000. Guess who pockets the extra $7,001? It isn't you. With a used car, you loan is for a shorter term, you pay less up front, and somebody else has already taken the depreciation hit on it.
All I have to say is that you need to think with your head and not your heart. Do your homework and you will thank yourself for that in the long term. Have a GREAT day! (visit my website, the book Never Surrender is scheduled for release on June 14, 2009)
Friday, June 5, 2009
How 'You Gettin' There?
To eliminate credit card debt you need to have ways in which to save money and hopefully there have been some ideas presented that you could use. With the automobile daily in the news nowadays, perhaps we should explore buying a vehicle, after all, most people need one to get to and from work and to places in your life. If you are fortunate enough to live in a metropolitan area that has public transport, that can save a lot of money.
With a car being the biggest expense that one may make besides purchasing a home, you really should do some homework when buying a car.
*NEW vs USED - Nothing beats the feeling of having a new car that nobody else has driven. The challenge is that a new car immediately loses value the second that you drive it off the lot. Too often people look at how much a car costs per month instead of taking the time to figure out how much you will be paying over the long term. With today's financing options, you can blend in the insurance, taxes, and such into the loan. Back in the 1970s, a new car was often a three-year loan. Today, however, it is often a six year loan. You will always owe more than the car is worth usually up until the last payment. Woe is you if you happen to total the car and you have to come up with the money to pay it off.
Nowadays, I vote for used. Somebody else has already taken the hit for loss of value when they bought it new. You can always buy an extended warranty, but you really should take the time to explore the reviews of the car, research its usefulness over its life, and see what cars hold their value over time.
I drive an 11/12 year-old car. It looks nice and it serves the car's purpose: to get you from point A to point B. It is not an investment because there are a very minute number of cars that increase in value, so it is always a liability.
Always.
Sure, there are things that will wear out with a used car. We have had to replace the suspension, oxygen sensors, brakes, and tires. The costs for those (plus the loan payment) is still lower than the cost for a new car.
Use your head, have a GREAT day, and keep looking for ways to save money so that you can eliminate your credit card debt!
With a car being the biggest expense that one may make besides purchasing a home, you really should do some homework when buying a car.
*NEW vs USED - Nothing beats the feeling of having a new car that nobody else has driven. The challenge is that a new car immediately loses value the second that you drive it off the lot. Too often people look at how much a car costs per month instead of taking the time to figure out how much you will be paying over the long term. With today's financing options, you can blend in the insurance, taxes, and such into the loan. Back in the 1970s, a new car was often a three-year loan. Today, however, it is often a six year loan. You will always owe more than the car is worth usually up until the last payment. Woe is you if you happen to total the car and you have to come up with the money to pay it off.
Nowadays, I vote for used. Somebody else has already taken the hit for loss of value when they bought it new. You can always buy an extended warranty, but you really should take the time to explore the reviews of the car, research its usefulness over its life, and see what cars hold their value over time.
I drive an 11/12 year-old car. It looks nice and it serves the car's purpose: to get you from point A to point B. It is not an investment because there are a very minute number of cars that increase in value, so it is always a liability.
Always.
Sure, there are things that will wear out with a used car. We have had to replace the suspension, oxygen sensors, brakes, and tires. The costs for those (plus the loan payment) is still lower than the cost for a new car.
Use your head, have a GREAT day, and keep looking for ways to save money so that you can eliminate your credit card debt!
Thursday, June 4, 2009
Hold Your Head Up
When in the quest to eliminate your credit card debt, it becomes a challenge at times to remain focused and disciplined. The stress level can be extremely heavy at times, and that stress can take its toll on you if you aren't prepared to deal with it. Here are some "stress busters" that may help you to deal with the stress of eliminating credit card debt, but also with other stresses in your life:
* Exercise - You wouldn't have to train for a marathon nor attempt to break the world record for weight-lifting, but sometimes something as simple as a thirty minute walk can help to put your mind on something else. Personally, I use the summertime months to get my exercise outdoors by mowing our yard (by hand, of course). The hour or so gives me some much needed exercise plus the satisfaction of seeing our lawn look neat (and it saves money to do it yourself)
* Read a PMA (Positive Mental Attitude) book - you don't have to run to the bookstore to find these books, they are often at the local library for free. Some of my favorites include Think and Grow Rich by Napoleon Hill, See You At the Top by Zig Ziglar, or Personal Power by Anthony Robbins
* Take a picnic lunch/dinner to a park - just having dinner and enjoying the outdoors (while saving money) can serve as a "charge" to your inner batteries
* Listen to music - Some people like to listen to music (and most radio stations are free) and there is a variety of stations out there for you. You can even find music that you like to listen to online for free.
My personal wish is for you to become successful in eliminating your credit card debt and to enjoy life as it was meant to be enjoyed! Have a GREAT day!
* Exercise - You wouldn't have to train for a marathon nor attempt to break the world record for weight-lifting, but sometimes something as simple as a thirty minute walk can help to put your mind on something else. Personally, I use the summertime months to get my exercise outdoors by mowing our yard (by hand, of course). The hour or so gives me some much needed exercise plus the satisfaction of seeing our lawn look neat (and it saves money to do it yourself)
* Read a PMA (Positive Mental Attitude) book - you don't have to run to the bookstore to find these books, they are often at the local library for free. Some of my favorites include Think and Grow Rich by Napoleon Hill, See You At the Top by Zig Ziglar, or Personal Power by Anthony Robbins
* Take a picnic lunch/dinner to a park - just having dinner and enjoying the outdoors (while saving money) can serve as a "charge" to your inner batteries
* Listen to music - Some people like to listen to music (and most radio stations are free) and there is a variety of stations out there for you. You can even find music that you like to listen to online for free.
My personal wish is for you to become successful in eliminating your credit card debt and to enjoy life as it was meant to be enjoyed! Have a GREAT day!
Wednesday, June 3, 2009
Wow, It's Wednesday
In my struggle to eliminate credit card debt, there comes some point to where desperation is the order of business. Perhaps you get served a summons to appear in court a few days prior to being in court. You dutifully show up to court, realizing that you are one of 100+ to appear before the court to find out that if you didn't appear in court, you would have had a summary judgement against you. It doesn't matter that you have asked in writing (sent by certified mail) for proof that the debt was yours and so forth and so on, but, despite your efforts to achieve documentation of proof that the debt was yours, they just issued you a summons to appear in court.
That is a sobering experience.
Having prepared taxes for a few years for a major company ("You Got People"), I was well aware of the 10% penalty on early withdrawals from an IRA. I also knew that all of the money you take as an early disbursement is taxed as income. When backed against a wall, the options narrow. Fortunately, it appears, after preparing a mock 1040 with the new income, I was relieved last night (after watching the Cardinals at their stadium win a game) when I ran the numbers and it appears that things will work out, it still leaves a sinking feeling that credit card debt is a serious problem.
I am dealing with it as best I can.
Thank God I have family and friends that support my efforts and I know that everything will work out, even though I have to work twice as hard. Don't believe that it is easy to change years of habit. It isn't.
But it can happen. Believe that in your heart of hearts that it is possible, because it is. Thank you for all of your support.
That is a sobering experience.
Having prepared taxes for a few years for a major company ("You Got People"), I was well aware of the 10% penalty on early withdrawals from an IRA. I also knew that all of the money you take as an early disbursement is taxed as income. When backed against a wall, the options narrow. Fortunately, it appears, after preparing a mock 1040 with the new income, I was relieved last night (after watching the Cardinals at their stadium win a game) when I ran the numbers and it appears that things will work out, it still leaves a sinking feeling that credit card debt is a serious problem.
I am dealing with it as best I can.
Thank God I have family and friends that support my efforts and I know that everything will work out, even though I have to work twice as hard. Don't believe that it is easy to change years of habit. It isn't.
But it can happen. Believe that in your heart of hearts that it is possible, because it is. Thank you for all of your support.
Tuesday, June 2, 2009
Your Tax Dollars At Work
A library is wonderful resource that too few people take advantage of. I was fortunate to grow up loving libraries. My grandmother was the librarian for her little town in North Central Arkansas since I was a little boy. Some of my fondest memories were spending a week with my mother's parents down at their farm. It was a wonderful experience for a young child because I would spend the days with my grandmother while she was working at the library and the evenings with my grandfather who was a carpenter and farmer.
Learning to read at an early age and having been read to gave me a great escape with a book. Libraries are, for the most part, paid for out of our local tax, but remain a storehouse of knowledge. For free. You wouldn't have to pay for a newspaper because you could always read the copy at the library. You didn't have to buy books to read them, you would check them out at the library and return them when you were finished.
Libraries today are more than a repository for books. There are audio books available. You can check out movies and videos. There is even free Internet access available at many libraries. You should check out the one in your local town. It is a great source of entertainment for children in the summer. Heck, you don't need to limit it to just a few months a year.
In your quest to eliminate costs from your life and eliminate your credit card debt you should be open to many of the low-cost and no-cost options out there that you might otherwise overlook.
Have a GREAT day!
Learning to read at an early age and having been read to gave me a great escape with a book. Libraries are, for the most part, paid for out of our local tax, but remain a storehouse of knowledge. For free. You wouldn't have to pay for a newspaper because you could always read the copy at the library. You didn't have to buy books to read them, you would check them out at the library and return them when you were finished.
Libraries today are more than a repository for books. There are audio books available. You can check out movies and videos. There is even free Internet access available at many libraries. You should check out the one in your local town. It is a great source of entertainment for children in the summer. Heck, you don't need to limit it to just a few months a year.
In your quest to eliminate costs from your life and eliminate your credit card debt you should be open to many of the low-cost and no-cost options out there that you might otherwise overlook.
Have a GREAT day!
Monday, June 1, 2009
June-"Bugs"
As you strive to eliminate credit card debt from your life, there are always challenges or "bugs" that come up and may create a temporary hindrance to your goal. They will happen, and you have to pay them some attention, but you don't need to be paralyzed by them. In fact, knowing that things may come up can be empowering in some small way.
It is good to remain focused on the ultimate goal which is to become credit card debt free. Recently I had a bit of a "stumble" because I had to have one of my back teeth crowned. I was told that a tooth that had a filling (for about 30 years) had to be replaced. No big deal because I have dental insurance, although, I will admit, I don't like to visit dentists and often neglect to have regular checkups. There even was an FSA that had been set up through my work although it was funded for my yearly glasses expense. I was not "pleasantly" surprised when the bill was nearly $600 with insurance.
I paid it, although the money could have been used for my glasses, but we shall overcome that. The focus still remains on lowering credit card debt and eliminating that from my life. It does affect everything that is one and saving money has become somewhat of a passion in my life. Yesterday is a good example. Time was not allotted to prepare my lunch to take to work and when my lunch hour came, I went to Wendy's. I kick myself now because I could have used the money saved by packing ramen noodles to have an extra $6.85 to pay toward credit card debt.
So it is with life. It doesn't matter how many times you may stumble or fall, what matters is how many times you brush yourself off and get back into the race in which slow and steady wins the race in the long run.
Have a GREAT day! (You can sign up for my eBook notification on the right side of the blog).
It is good to remain focused on the ultimate goal which is to become credit card debt free. Recently I had a bit of a "stumble" because I had to have one of my back teeth crowned. I was told that a tooth that had a filling (for about 30 years) had to be replaced. No big deal because I have dental insurance, although, I will admit, I don't like to visit dentists and often neglect to have regular checkups. There even was an FSA that had been set up through my work although it was funded for my yearly glasses expense. I was not "pleasantly" surprised when the bill was nearly $600 with insurance.
I paid it, although the money could have been used for my glasses, but we shall overcome that. The focus still remains on lowering credit card debt and eliminating that from my life. It does affect everything that is one and saving money has become somewhat of a passion in my life. Yesterday is a good example. Time was not allotted to prepare my lunch to take to work and when my lunch hour came, I went to Wendy's. I kick myself now because I could have used the money saved by packing ramen noodles to have an extra $6.85 to pay toward credit card debt.
So it is with life. It doesn't matter how many times you may stumble or fall, what matters is how many times you brush yourself off and get back into the race in which slow and steady wins the race in the long run.
Have a GREAT day! (You can sign up for my eBook notification on the right side of the blog).
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