I'm sure everyone has heard the phase, "Mind the pennies and the dollars will follow," or some sort of variant of this. Well I am starting to think this is true.
Since our financial life has started to click (by this I mean, we are not racking up new credit card debt, we are staying within budget, and we are actually making extra payments), money has been coming in hand over fist!!!
Sure, most of it is money that we kind of knew maybe coming, but it has been a rare day in the last couple of weeks that a trip to the mailbox has not produced at least one cheque. Furthermore, the hubby has been making some side cash. I actually went to the bank 3 times in one day to deposit money as it just kept coming.
Granted it is only small amounts at a time, but it's really been helping out. I just hope it keeps up.
Saturday, June 13, 2009
Monday, June 1, 2009
Update June 1...
As you can see on the side, my debt is finally going in the right direction. I previously mentioned that two cards (C& D) would be increasing, as they did, but everything else seems to be moving in the right direction.
One little issue, I think they recorded my mortgage wrong. From my calculations they credited the principal with the interest amount, and the principal amount as interest. Should I tell them or just enjoy it?
One little issue, I think they recorded my mortgage wrong. From my calculations they credited the principal with the interest amount, and the principal amount as interest. Should I tell them or just enjoy it?
The Credit Gods Giveth, The Credit Gods Taketh Away...
AHHHHHHHH!!! So I was checking my credit card account online (Credit Card C), and I noticed that my available credit was only about $2,000. This was a shock as this card has a credit limit of over $20,000. HMMMMM...
So I went to the statement section and noted that my credit limit was now listed as $5,000. I started to panic thinking I did something stupid, as we were considering reducing this limit anyway and I was looking at the reduce your credit limit online screen and thought I may have hit something by accident. But I thought, we were never planning to go less than $10,000, so what was going on. To the phones...
I called the credit card company and she told me that the company reviews credit limits on a regular basis to assess our qualifications for credit. At this time, it is felt that we only qualify for a $5,000 limit. She said that it did not appear to have anything to do with our usage of the card, but we should order our credit reports to figure out what could have gone awry. I have done so and should receive them next week.
So I am sure you are thinking, what the big deal if our balance was less than the limit, and we were going to reduce it anyway. This should help with the debt thing, right? Yes, you are correct, but it doesn't feel good. When we got our consolidation loan, it was on condition that they take away our credit line. That was okay. No big deal. Now one of our credit cards has dropped our limit over $15,000. This is panic time! In the last month we have lost over $20,000 in our available credit, and not by choice. The panic is, since we are still working on the debt, if something were to happen will we have no recourse? Also, for Credit Card A what happens if they drop the limit here? We will most definitely have some or all of our balance called. Where are we going to get that overnight?
This debt has to go!
So I went to the statement section and noted that my credit limit was now listed as $5,000. I started to panic thinking I did something stupid, as we were considering reducing this limit anyway and I was looking at the reduce your credit limit online screen and thought I may have hit something by accident. But I thought, we were never planning to go less than $10,000, so what was going on. To the phones...
I called the credit card company and she told me that the company reviews credit limits on a regular basis to assess our qualifications for credit. At this time, it is felt that we only qualify for a $5,000 limit. She said that it did not appear to have anything to do with our usage of the card, but we should order our credit reports to figure out what could have gone awry. I have done so and should receive them next week.
So I am sure you are thinking, what the big deal if our balance was less than the limit, and we were going to reduce it anyway. This should help with the debt thing, right? Yes, you are correct, but it doesn't feel good. When we got our consolidation loan, it was on condition that they take away our credit line. That was okay. No big deal. Now one of our credit cards has dropped our limit over $15,000. This is panic time! In the last month we have lost over $20,000 in our available credit, and not by choice. The panic is, since we are still working on the debt, if something were to happen will we have no recourse? Also, for Credit Card A what happens if they drop the limit here? We will most definitely have some or all of our balance called. Where are we going to get that overnight?
This debt has to go!
Thursday, May 28, 2009
Unrequited Love Letter...
I have not told my husband about my blog. I have considered it, as he is in this boat with me (even though I sometimes think I am doing more rowing than him), but I have decided to keep this as an outlet for myself. I can vent and ramble as much as I want and I don't need to worry about alienating my husband, especially since I need to analyze EVERYTHING and it drives him crazy!
However, although he may never read this I have something to tell him...
"I am really happy how you have taken to our new budget lifestyle. Once you had finally understood what I have been trying to say for several years, you have really taken this whole crisis to heart and have really been trying to help me out. Although some of your naughty spending habits are still alive and try to creep up now and again, you have been diligent on asking me what we can and can't afford instead of just doing what you want. You have put a lot of your plans on hold to help our family and have really tried to find ways to bring some extra income into the household. If you can keep this up I finally think that we are going to get through this, and we will have a brighter future as there is now a light at the end of this tunnel."
For everyone else, thank you for letting me be a little self indulgent.
However, although he may never read this I have something to tell him...
"I am really happy how you have taken to our new budget lifestyle. Once you had finally understood what I have been trying to say for several years, you have really taken this whole crisis to heart and have really been trying to help me out. Although some of your naughty spending habits are still alive and try to creep up now and again, you have been diligent on asking me what we can and can't afford instead of just doing what you want. You have put a lot of your plans on hold to help our family and have really tried to find ways to bring some extra income into the household. If you can keep this up I finally think that we are going to get through this, and we will have a brighter future as there is now a light at the end of this tunnel."
For everyone else, thank you for letting me be a little self indulgent.
Tuesday, May 26, 2009
Bringing My Banter to the World...
I love eHow. I don't know how many things I have discovered, learned, and researched on this lovely little platform. Problem is that as a foreigner I can contribute all I want, but they will not pay me. (boo!!!) I therefore figure, what the heck is the point of contributing then if my two cents isn't even worth two cents.
However, I have come across another program that does a similar thing; Bukisa. Okay so Bukisa isn't as fabulous as eHow, but it does have it's charms and it pays foreigners (yeah!). Deal is you write a how to article (or review, or upload a photo, video or slide show) and Bukisa pays you a portion of their revenues for hits on your article (or other medium).
I did my research and there appears to be good and bad:
Good:
However, I have come across another program that does a similar thing; Bukisa. Okay so Bukisa isn't as fabulous as eHow, but it does have it's charms and it pays foreigners (yeah!). Deal is you write a how to article (or review, or upload a photo, video or slide show) and Bukisa pays you a portion of their revenues for hits on your article (or other medium).
I did my research and there appears to be good and bad:
Good:
- will payout through paypal, with as little as a $10 minimum
- gives you more outlets then just how to's
- has a referral system, so if another contributor signs up under your suggestion, you are paid for everytime your contributor gets paid - up to three layers
- based on research Bukisa does not come up when you type in "Bukisa"and "scam"
- they pay non-US residents!!!
- a bigger audience to listen to my ramblings
Bad:
- not as well known as eHow, thus less traffic
- due to the set up and promotion of the site you have to contribute more regularly to generate significant hits
So here is the plan: I just signed up for my account and have submitted 3 articles. No hits yet, it's only been an hour. But I was reading a post on http://www.smartpassiveincome.com/ in which the blogger submitted 5 articles per day to eHow for one month, and tracked her earnings and then did nothing for the following month to see if her efforts paid off. My thoughts were that 1.) This is a pretty neat idea, and 2.) who the heck has time to write 5 articles a day, let alone come up with 150 ideas in 30 days.
So I am going to try to submit 1 article per day for a month and see how it goes, then cut back a bit to see how the program works. The blogger above made $20 in the first month, $90 in the second, and $100 in the third. As Bukisa is far less travelled, my ambitions are much lower at hoping to make $120 in the next year ($10 per month - starting June 1). If I actually make any money I pledge to put it all on debt. Granted it may not be much, but at least it's something. The interest clock stops after every dollar you pay after all.
If anyone out there is interested in this program, join and see how you do. If you want click the link below and it will be noted that you referred to the program by me. It doesn't affect your own network of contributor, but it sure would do me a favor. It can be your way of help me pay off my debt, without actually having to give me money. Warm fuzzies for everyone!!
Monday, May 25, 2009
Spending to Save Money...
Well we got a new car. (ducking and hiding behind a chair)
I know, I know, people are probably saying that we are crazy for doing this, but looking at the numbers it make sense. The sad part is that the lease cost and the cost of gas (as this car is far more fuel efficient then our current one) is cheaper then what we paid in gas alone last year.
Plus, the lease cost is tax deductible for us, so there will be even better money saving opportunities come tax time.
It is definitely hard to give up our family friendly SUV, but the kids are young and a few years of cutting back financially will really help us out.
I guess 100K in debt really forces you to make some hard decisions.
I know, I know, people are probably saying that we are crazy for doing this, but looking at the numbers it make sense. The sad part is that the lease cost and the cost of gas (as this car is far more fuel efficient then our current one) is cheaper then what we paid in gas alone last year.
Plus, the lease cost is tax deductible for us, so there will be even better money saving opportunities come tax time.
It is definitely hard to give up our family friendly SUV, but the kids are young and a few years of cutting back financially will really help us out.
I guess 100K in debt really forces you to make some hard decisions.
Saturday, May 23, 2009
The Stars are Aligning...
Just read my horoscope for the day, it says:
"Wise Leos are reducing their debt. Continue to play things lean and mean right now. Fortunately, you're giving a lot of thought to your cash flow and your possessions, and what's worthwhile and what is superfluous and excessive. Of course, Leos are never excessive. (That was a joke)"
Who knew I needed cosmic help! But at least it looks like the stars are in my corner.
"Wise Leos are reducing their debt. Continue to play things lean and mean right now. Fortunately, you're giving a lot of thought to your cash flow and your possessions, and what's worthwhile and what is superfluous and excessive. Of course, Leos are never excessive. (That was a joke)"
Who knew I needed cosmic help! But at least it looks like the stars are in my corner.
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