The forecast calls for more snow here on top of the mounds we already have...So yesterday I confronted the list below, but forgot to add to the mound of debt I already have...
(new to the list)
Business Loan: $10,000
Car Loan: $4,000
Target: $1,100 (which is silly to forget, they like to call me in the morning and at dinner)
(first shocking truth listed)
Student Loan: $54,069.63
Mortgage Payment (past due/working with bank): $6000
Mastercard: $16,751.56
American Express: $2,179.48
Discover Card: 1958.78
Orchard Card: $ 1000
Care Credit: $1000
Home Depot: $911.71
Skin Care: $45.89
Hospital: $ 884.99
Citi Card: $1,200
ADT: 130.30
Phone: $366
Electric: $494.52
Gas: $962.79
Yesterdays....TOTAL:$ -81,589.65
TODAYS NEW "TRUTH" TOTAL: -92,689.65
(not including mortgage)
This is just really really crazy to me. I am almost at the -93,000 like the mom blog I read about, but there is no way I can pay this off in 3 years like her, especially with what we're living on now. It makes me feel like a very stupid person. $92,689.65 could buy a condo, house, apartment, or lots of vacations...better yet a vacation condo, house, or apartment somewhere really warm and not snowy! It could have paid for the old degree ($54,069.63), which has done nothing and perhaps paid for a new degree that could have done something! It could have bought a second car...after it could have paid for the first car. We still share a car...my husband also takes the bus on alternate days. Now I feel more pathetic. Wow, this is quite overwhelming. I feel as if I need to go through the various stages of grief where a person experiences denial, anger, sadness, and then acceptance. Is shock, pure shock and overwhelm in that phase? More snow in the forecast...to be added to the mound...more debt. It feels like a financial blizzard and I'm standing out in it with just socks on.
More Snow in the forecast...More Debt to add
February 5th, 2011 at 02:53 am
February 5th, 2011 at 03:28 am 1296876534
As you catch up on everyone's blogs you'll get some great ideas for both saving money and making extra cash. I've had a lot of success selling books, cds, and dvds for extra cash over the year. (Small dollars here and there, but it adds up, and declutters your house at the same time). Others have had good success with Ebay. Every bit helps. Good luck and hang in there!
February 5th, 2011 at 03:31 am 1296876667
Dave Ramsey's first step is to get current with your creditors, well after food, lights and housing. So focus on the food you need. Get the utilities current and your mortgage current. You can do this!
February 5th, 2011 at 04:31 am 1296880285
February 5th, 2011 at 04:46 am 1296881182
I paid off $40,000 in student loans, paid off a house, hospital bills from having two kids, fund retirement, feed four people, sock away in a 529. It's all about making use of every small tiny bit of money that comes your way. AND, like dieting, don't think you can live on water and lettuce. You have to have a small bit of fun in your life to keep plowing forward.
February 5th, 2011 at 05:14 am 1296882847
February 5th, 2011 at 03:45 pm 1296920752
I loved the comment on your last blog entry about deciding to know longer blame your parents for not teaching you about money, educate yourself, and become an example for your children. That bodes very well for you.
Does your husband know what the debt total is?
February 5th, 2011 at 06:32 pm 1296930766
Also, after you have stressed and grieved, stop looking at the 93000 and look at each individual debt. Most of your debts look very "nickel,dimey" with only a couple that make up most of the debt. Keep looking for more, so that you have the complete picture. Call Mastercard first and make payment arrangements with them. Check with the hospital and see if they will "forgive" your debt because of financial need.
The rest of your debts look like they will work well with the "snowball" method. Even if you are only sending them $10 a month, you are showing your willingness to pay.
Most of all - keep an eye on all of your debt. Get a piece of posterboard and list all of your debts and put it somewhere where you and DH can see it.
I have been here where you are. I have done this. I have slipped and fallen MANY times, but you CAN do this!! Forgive yourself and get busy!!!
February 5th, 2011 at 07:14 pm 1296933279
February 5th, 2011 at 07:34 pm 1296934475