Home > I am changing my perspective

I am changing my perspective

January 5th, 2009 at 05:29 pm

I finally got my hands on the book by Dave Ramsey "Total Money MakeOver" I rented it from the library. I have been reading different financial expert's websites and tv shows, really trying to get a grip on handling my MONEY. I am pretty much rock bottom and not within my income means. I am way out of budget. I am filing for chapter 13 in order to get this Tiger Kim Academy to stop garnishing my paychecks, for classes that my son never took. I now am paying an attorney trying to get the courts to look at my case again and decide if Tiger Kim is grossly taking advantage of me. I still get by with the help of my parent's giving me cash for gas, food, medicine for my son, pet food. I still have my Aveo, which was hit by a bicyclist, and has a huge dent in one door. I'm torn about what to do with the car. If I keep the car, it could be a good investment. I owe $8000. I'm serious about recording every penny I spend and asking for receipts for everything, I am trying to live frugal, beginning a new year, and hopefully a new mind set. I really need to realize who I am and face the truth about my life style and what I expect versus what I can afford. Any Advice?

10 Responses to “I am changing my perspective”

  1. Aleta Says:

    Dave Ramsey's book is a great beginning. You just have to set up a budget as he advises and follow his advise.Do you have a lot of debt?

  2. Koppur Says:

    Looking at your monthly payments on your sidebar, what is Xcel 144? What is Bonded 1200? Maybe you can quit the YMCA to save a few bucks, get a cheaper or generic dog food. Can you use less fuel (is it for your car or house?) by using public transportation, or using space heaters and lots of sweatshirts adn blanket to keep house heat low or off?

  3. merch Says:

    Expenses = 1971.5
    Income = 1825.56
    Shortfall = 145.94

    What is bonded and Adv. Amer? They are eating up 290 of your budget. I also think the that the lawsuit is eating up a bit too. Hopefully, you can resolve this quickly.

    I think if you were able to get the car fixed and sell it and pick up a beater, so that you didn't have a car payment, you would be able to stop the bleeding. In fact, you would be in the black by over $155.

    I also think you have an income issue. You need to get that income up. I would continue towards the degree if an only if it means that I would be earning more then I am now.

    For your budget, I would prioritze your spending. That means rent, food, utilities, transportation. When the money runs out, it runs out.

    Could you ebay some things to help? Partime job? Maybe evening babysitting where people drop off kids at your house? Just something to help get some wiggle room.

    Good luck

  4. beautissamiss Says:

    I hate to see people in your situtaion so I'm gonna hug you now. *Hug* okay, hope that helped a little. I'm glad you are getting an attorny, that's good. Now, I know this is gonna suck big time but I really want you to ask yourself what you need. (this is what I had to do so know I'm not being dramatic) For you this may mean cutting off the Tv and kids cell phones (if they have it, I mean, I dunno) and not spending money on anything you don't need to survive. Me, it meant having a major yardsale and selling the majority of my stuff. It sucked but I was able to pay things down and I slept better because of it. Now, I'm not saying that this will be permenant, unless you discover you like no tv or whatever which was the case for one friend (it got her closer to her kids), but just until you can afford it. Anyway, that's my advice.

  5. saj Says:

    The Bonded is a collection agency that I have down to $345.00, Xcel is public service in Colo., that I am always behind by $80-$90,Smartcare, Med Center of Aurora are all medical, Adv. Amer. is a payday loan, I did quit the YMCA, But now I'm being garnished $500 a month because I broke the original $350 arrangement. I am seriously in trouble, I don't even want to explain my situation, to everyone on the blog, because it really seems so hopeless.

  6. ceejay74 Says:

    Saj, glad you're back!

    There are some good debt-consolidation places, though I'm not sure the best source for ensuring they're reputable. It looks like you put a lot toward debt--could a consolidation lower your monthly payment and give you a bit of relief that way?

    Could you get creative with living arrangements--is there someone you could move in with and pay them less than $625?

    Have you tried reducing your energy usage to lower that Xcel bill?

    Do you actually have any tax liability at the end of the year? If you usually get a refund, you could reduce your withholding.

    Is there room for advancement at your current job? If not, is there time in your week to pick up some part-time work anywhere?

    Hope this helps somewhat...

  7. Koppur Says:

    It does seem like a tough space you are in. *Hugs* I know it seems hopeless but just the fact that you are posting here means you are trying to get things better and that should give you hope. One thing to focus on is that in 2 months the Bonded will be paid off and that will free up $200 a month for you. I suggest ebay and yard sales, coupons, part-time job (at home if possible so you are not paying add'l for childcare), and giving up some wants. I know that stinks, when things feel hopeless the thought of getting rid of the few wants you have that cheer you up is hard. I couldn't do it myself and that's why I still have debt. Do you have a friend or family member that could give you an interest free loan? Then you could pay off a big or biggish debt with it and save yourself all those finance charges. It would be easier and quicker to pay back an interest free loan that one w/finance charges. Good luck and keep posting!

  8. homebody Says:

    What jumped out at me was the cell phone, landline, internet. Wow! That's a lot and I thought I paid a lot. Do you need both cell phone and landline? Oh let me guess, you signed some long-term contract. How can Tiger Kim Acadamy do this. Did you sign some kind of agreement with them and they added to it? Can't you take them to small claims court?

  9. saj Says:

    I just found out the judge denied my motion to stop garnishments. I am looking on line for a roommate situation. Looking for rooms to rent/roommates is something I've never considered, because I have a son, and a small dog, and now a kitten. I'll hopefully get a few replies. I'm seriously thinking of selling everything I own and for the next year, try to get out of this mess.

  10. beautissamiss Says:

    Have you tried to get a loan from the bank to pay off this stuff? My mom had to do that with her credit card debt. That way she just pays one person instead of several.

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