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.
Thursday, May 28, 2009
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.
Friday, May 22, 2009
Trying to Brighten the Future...
Today I tried to get my preschooler more involved and cognizant about money. We sat and pulled his money out of his piggybank and sorted it into different coins. I took care of the silver, but he sorted all the "brown" ones. We then counted the coins and put them in rollers.
Then I explained how we were going to take his money to the bank to save for something later. He proudly took his little plastic bucket of money to the teller and watched intently as she counted the money and stamped his receipt.
Not much of an accomplishment, but I'm trying to instill some good habits on my kids. Something good might as well come out of my mistakes.
Then I explained how we were going to take his money to the bank to save for something later. He proudly took his little plastic bucket of money to the teller and watched intently as she counted the money and stamped his receipt.
Not much of an accomplishment, but I'm trying to instill some good habits on my kids. Something good might as well come out of my mistakes.
Tuesday, May 19, 2009
The Fabulousness of Found Money...
Well not really found money, but forgotten money.
On my quest to get things paid off, I scoured my life for ways to get a little extra coin, here is what happened:
- I noticed a shelf and brackets that I was going to put up "tomorrow" for the last six months. In actuality this will never get done, and I don't even need the shelf for what I originally intended it. So I returned it to the store. Another $35 in the pocket. Granted this was gone as soon as I received it, as my son needed something (actually needed, not wanted - although we do spoil him pretty badly). However, I still think this is an accomplishment as I managed to buy something without it touching a credit card, or my actual budget.
- I filed an adjustment to my tax return this year which should yield me about $500. I knew about this adjustment before, but as I was going through the process I decided to look at past years, and lo and behold I found another $600 bucks that I could get back from 2005 and 2006. Now I just hope the government sees things the way I do.
- I realized that on a recent trip I took, (that I couldn't afford, but there is nothing I can do about that now). I had not applied to receive the state tax back on my purchases. Yet another $100 when it comes in.
- And lastly, the change jar. It's been sitting there for a while, but I finally rolled it. Only $29, but cash I didn't have yesterday.
Granted some of these things will take time to come in, but opening the mail to a big fat cheque will be nice. Here are some tips to "find" money in your life:
1. Rebates - How many times have we thrown out those pesky little rebate cards because the $3.00 rebate isn't worth your time. Well it might not buy a vacation home, but it money you didn't have before. If the take to much time to fill out, leave it in your purse or wallet for when you are waiting at the doctor's, or better yet in the bathroom for when you a couple of extra idle minutes in there. If the rebate is more than the postage to send it in. Do it!!
2. Returns - Scour your home for items you don't use that still have the tags on and return it!! Even if you don't have the receipt, or it is after the return policy period you can usually manage to get a gift card in the amount of the item (you might lose money as it may be at the current bprice, but if you are not using it you are gaining nothing by keeping it). Keep the gift card to buy things you really need, or use it to splurge for "free" when you have earned a treat for yourself.
3. Loose Change - Doesn't add up fast, but it does add up. If you can keep your fingers out of the jar, it could be pizza delivery on a really bad day.
4. Consolidate Accounts - Do you have a few bucks in Paypal, $2 in an unused bank account, etc. Clear out these amounts and gain a couple bucks. Yet again, not much, but something. Besides the sooner a dollar is paid on a credit card the sooner the credit clock stops.
5. Sell Stuff - Yes, the power of eBay and it's followers. I'm not going to spend too much time here as we have all heard this before, but remember anythign can sell. I just sold used balloons.
6. Check Your Records - Although you might not be able to pull out a tax refund like I did, be sure to check things like your tax returns, credit card statements, or anything else where someone could slip up or the amount could be negotiated. You can very often find mistakes that cost you money.
7. Clean - I have often times been amazed at what I have come across from cleaning. Gift certificates I hadn't used, tons of loose changes or bills in old wallets, purses, and clothes, even cheques I hadn't cashed at the bottoms of drawers. I even know someone who found $200 in an old wedding card. Plus, it's a free thing to keep you busy.
Happy Hunting!!
On my quest to get things paid off, I scoured my life for ways to get a little extra coin, here is what happened:
- I noticed a shelf and brackets that I was going to put up "tomorrow" for the last six months. In actuality this will never get done, and I don't even need the shelf for what I originally intended it. So I returned it to the store. Another $35 in the pocket. Granted this was gone as soon as I received it, as my son needed something (actually needed, not wanted - although we do spoil him pretty badly). However, I still think this is an accomplishment as I managed to buy something without it touching a credit card, or my actual budget.
- I filed an adjustment to my tax return this year which should yield me about $500. I knew about this adjustment before, but as I was going through the process I decided to look at past years, and lo and behold I found another $600 bucks that I could get back from 2005 and 2006. Now I just hope the government sees things the way I do.
- I realized that on a recent trip I took, (that I couldn't afford, but there is nothing I can do about that now). I had not applied to receive the state tax back on my purchases. Yet another $100 when it comes in.
- And lastly, the change jar. It's been sitting there for a while, but I finally rolled it. Only $29, but cash I didn't have yesterday.
Granted some of these things will take time to come in, but opening the mail to a big fat cheque will be nice. Here are some tips to "find" money in your life:
1. Rebates - How many times have we thrown out those pesky little rebate cards because the $3.00 rebate isn't worth your time. Well it might not buy a vacation home, but it money you didn't have before. If the take to much time to fill out, leave it in your purse or wallet for when you are waiting at the doctor's, or better yet in the bathroom for when you a couple of extra idle minutes in there. If the rebate is more than the postage to send it in. Do it!!
2. Returns - Scour your home for items you don't use that still have the tags on and return it!! Even if you don't have the receipt, or it is after the return policy period you can usually manage to get a gift card in the amount of the item (you might lose money as it may be at the current bprice, but if you are not using it you are gaining nothing by keeping it). Keep the gift card to buy things you really need, or use it to splurge for "free" when you have earned a treat for yourself.
3. Loose Change - Doesn't add up fast, but it does add up. If you can keep your fingers out of the jar, it could be pizza delivery on a really bad day.
4. Consolidate Accounts - Do you have a few bucks in Paypal, $2 in an unused bank account, etc. Clear out these amounts and gain a couple bucks. Yet again, not much, but something. Besides the sooner a dollar is paid on a credit card the sooner the credit clock stops.
5. Sell Stuff - Yes, the power of eBay and it's followers. I'm not going to spend too much time here as we have all heard this before, but remember anythign can sell. I just sold used balloons.
6. Check Your Records - Although you might not be able to pull out a tax refund like I did, be sure to check things like your tax returns, credit card statements, or anything else where someone could slip up or the amount could be negotiated. You can very often find mistakes that cost you money.
7. Clean - I have often times been amazed at what I have come across from cleaning. Gift certificates I hadn't used, tons of loose changes or bills in old wallets, purses, and clothes, even cheques I hadn't cashed at the bottoms of drawers. I even know someone who found $200 in an old wedding card. Plus, it's a free thing to keep you busy.
Happy Hunting!!
Sunday, May 17, 2009
Starting Over Yet Again...
As you can see I updated my debt amounts the other day on my sidebar. I'd be interested to know the noise you all made when you actually read the total. Six digits worth of debt, makes my skin crawl.
You must keep in mind that some of this is from fees and such to get the equity loan, but my mistakes nonetheless.
A few little things to note:
Things are going to get worse!: Credit cards B-D have all had partial payments from the equity loan, so for 3/4 of the month they had a balance in the 10's of thousands at a disgusting rate over 19%. So therefore, the when the interest charge hits at the end of the month it will be big and ugly, coming close to doubling some of the balances. It's okay, I know this is coming.
Charging the Opportunity Cost: The equity portion is not just current mortgage less balance before the loan (well it is right now, but it will not be in the future). To make sure that the balance is the most accurate, I have maintained an amortization chart of my old mortgage, so the amount owing will be the current mortgage value less what my old mortgage value WOULD HAVE been on that date. I figured that if I didn't take into account where I should have been under normal mortgage payments had my financial life not gone to hell, then I would be attributing money I pay on my mortgage to debt reprayment and basically over accounting my actual progress. This is a process, I will not get thorough it quickly or easily, I have come to terms with that.
But there it is; the writing on my blog wall. Things are going to go better this time around. They have to.
You must keep in mind that some of this is from fees and such to get the equity loan, but my mistakes nonetheless.
A few little things to note:
Things are going to get worse!: Credit cards B-D have all had partial payments from the equity loan, so for 3/4 of the month they had a balance in the 10's of thousands at a disgusting rate over 19%. So therefore, the when the interest charge hits at the end of the month it will be big and ugly, coming close to doubling some of the balances. It's okay, I know this is coming.
Charging the Opportunity Cost: The equity portion is not just current mortgage less balance before the loan (well it is right now, but it will not be in the future). To make sure that the balance is the most accurate, I have maintained an amortization chart of my old mortgage, so the amount owing will be the current mortgage value less what my old mortgage value WOULD HAVE been on that date. I figured that if I didn't take into account where I should have been under normal mortgage payments had my financial life not gone to hell, then I would be attributing money I pay on my mortgage to debt reprayment and basically over accounting my actual progress. This is a process, I will not get thorough it quickly or easily, I have come to terms with that.
But there it is; the writing on my blog wall. Things are going to go better this time around. They have to.
Friday, May 15, 2009
Never Leave Home Without It...
So, I went grocery shopping today. Nothing new, but I have been trying to stay within or go under my budget as much as possible. Well, today I found the best tool for this...wait for it...my calculator!
Yeah, it may seem like a no-brainer to bring a calculator to calculate sales and determine if certain sales/sizes are worth the money, but I actually added up each item I was planning to buy as I put it in my cart. It provided a running tally for my items and I found myself really watching what I was picking up. It may have been a fluke, but I spent about $50 less than I normally do at the grocery store and still manage to get everything on my list (plus a couple extras- I'm only human).
I guess it just gives you a more in your face view of what you are actually buying, instead of waiting for the end, where you just buck up and pay the bill.
Yeah, it may seem like a no-brainer to bring a calculator to calculate sales and determine if certain sales/sizes are worth the money, but I actually added up each item I was planning to buy as I put it in my cart. It provided a running tally for my items and I found myself really watching what I was picking up. It may have been a fluke, but I spent about $50 less than I normally do at the grocery store and still manage to get everything on my list (plus a couple extras- I'm only human).
I guess it just gives you a more in your face view of what you are actually buying, instead of waiting for the end, where you just buck up and pay the bill.
Wednesday, May 13, 2009
Getting Down to Business...
So the money for the loan went through today. Of course there will be clean up with some residual interest payments and a couple little things here and there, but we have now successfully consolidated two of our cards and are working to get the other ones gone.
It's a good day.
It's a good day.
Friday, May 8, 2009
Things To Do In Bed...
Sounds exciting. Not so much. Last night me and my husband curled up under the covers and revamped our budget. Probably makes most people turned on just thinking about it ;)
So the other day we set our appointment to sign off all of the documents for the loan, but we were asked to bring in our credit card bills. I mentioned to the hubby, "so what are we going to say when she asked why they have increased over the past 3 months." Looking at me dumbfounded he responds "how did they increase?" This conversation continues in which he asks the hard question; Even with the loan, can we afford to live in our house, or do we need to move and start over? It wasn't a threat, and he was very level headed indicating that sometimes reality isn't what we want it to be.
So after the kids went to bed, we curled up with my laptop and hammered out a more realistic budget. It included a lot of things that I didn't include before that had been ending up on credit cards. Based on this budget, we have a small shortfall for about the next 3 months, but then we actually have an extra $23 per month ongoing. Not a lot but it's something.
We also estimated that it will be about 3 years before we pay off the residual on our actual credit cards. But at least we are moving in the right direction. It's weird how in the midst of your darkest hour, you finally start to feel better.
This communication thing was a long time coming, but much needed. Hopefully, the transparency will do us good.
So the other day we set our appointment to sign off all of the documents for the loan, but we were asked to bring in our credit card bills. I mentioned to the hubby, "so what are we going to say when she asked why they have increased over the past 3 months." Looking at me dumbfounded he responds "how did they increase?" This conversation continues in which he asks the hard question; Even with the loan, can we afford to live in our house, or do we need to move and start over? It wasn't a threat, and he was very level headed indicating that sometimes reality isn't what we want it to be.
So after the kids went to bed, we curled up with my laptop and hammered out a more realistic budget. It included a lot of things that I didn't include before that had been ending up on credit cards. Based on this budget, we have a small shortfall for about the next 3 months, but then we actually have an extra $23 per month ongoing. Not a lot but it's something.
We also estimated that it will be about 3 years before we pay off the residual on our actual credit cards. But at least we are moving in the right direction. It's weird how in the midst of your darkest hour, you finally start to feel better.
This communication thing was a long time coming, but much needed. Hopefully, the transparency will do us good.
Wednesday, May 6, 2009
Ding Dong the Debt is Dead (Sort of)...
When I mean debt, I mean 3/4 of the amount...
and when I say dead, I mean reincarnated at a more manageable interest rate.
That's right people, the consol loan came through (clouds parting, angels singing), but not for the full amount (boo!). I guess in these economic times, not to mention the ridiculous debt load we are carrying, it just wasn't feasible. However, about 3/4 of our debt just dropped it's interest rate by about 3/4 of it's original percentage. Small victory, but a stepping stone on the right path.
I feeling much better about this today.
and when I say dead, I mean reincarnated at a more manageable interest rate.
That's right people, the consol loan came through (clouds parting, angels singing), but not for the full amount (boo!). I guess in these economic times, not to mention the ridiculous debt load we are carrying, it just wasn't feasible. However, about 3/4 of our debt just dropped it's interest rate by about 3/4 of it's original percentage. Small victory, but a stepping stone on the right path.
I feeling much better about this today.
Friday, May 1, 2009
$4 slap in the face...
$4...
This is the balance in our home bank account right now. After getting cleaned out by the tax man, and being on permanent standstill for that loan we are probably not getting, we are cash crunched beyond belief.
Granted there is a paycheque from the hubby coming on Monday (which is late, and I don't know how much it will be - damned commission work!), but it is already allotted to other things, like say the utilities bill.
I am exceedingly frustrated right now. I feel like I am just drowning and can't seem to find my way out. I know I just need to breathe and regroup (which is what I'll be doing this weekend, as what else can you do with $4 in your bank account).
This is the balance in our home bank account right now. After getting cleaned out by the tax man, and being on permanent standstill for that loan we are probably not getting, we are cash crunched beyond belief.
Granted there is a paycheque from the hubby coming on Monday (which is late, and I don't know how much it will be - damned commission work!), but it is already allotted to other things, like say the utilities bill.
I am exceedingly frustrated right now. I feel like I am just drowning and can't seem to find my way out. I know I just need to breathe and regroup (which is what I'll be doing this weekend, as what else can you do with $4 in your bank account).
Subscribe to:
Posts (Atom)
