Sunday, November 30, 2008
The emergency fund is a must because I have to get something else worked on on my vehicle. That is alright. I also need to pay a mortgage that I didn't pay this month. This will honestly be the last month that I do that. I had more money in my account and still was overdrawn, that is just sad. I see the problems and I know how to fix them.
I get paid again on the 19 of December, but the catch is that I will not get paid again until the end of January 09. Crazy, right! Money management is the key.
When we were at Shoney's the person behind us was talking about Dave Ramsey's Money Makeover. We had a conversation about getting things in order, that was very motivational. We set there for a reason. No matter how much I want to spend, I need to spend toward the right thing. No debt and more money will handle the problems. Doing right by my cash, not spending excessively is always key.
Have a great day and Happy Thanksgiving, what are you thankful for?
Thursday, November 20, 2008
I did it again, I will not reveal what wrong I have done, but it was not a good one. What I will say is that I cut up my check card, I had to do it for the betterment of my checking account. I honestly don't know what happened, I take that back, I do know what happened. I didn't make a budget and stick with it. Knowing is half the battle.
On a lighter note, I have paid ING so that is scratched off my list of things that I need to pay. Again, knowing is half the battle. I know the problems that I have and I am willing to make a change. The change has to start somewhere, if it doesn't I will not achieve the financial freedom that I deserve.
This mistake has really made me angry with myself, but why get angry? Anger is not going to correct the problem at hand. This financial freedom thing is similiar to weight loss. It all starts with me. I am the only person that can get this thing going. It has already began, but I must be mindful of the pitfalls that lay ahead.
I get paid next Friday and the check is already gone. Recovery, recovery, recovery, is the word of the day for me. I have to recover from the problems that I have given myself. It is sad, it really is, but one day in the near future I am going to look at the problems and challenges I have faced and say it was all worth.
Thanks to everyone that has been reading this blog. Hopefully my daily struggles will help you achieve financial success. Also, thanks for following me! I am slowly making progress.
This link has 5 Best Ways to Reduce Debt
Tuesday, November 11, 2008
Anyway, Immanuel gave me the book. Very interesting! I know I have been a little unstable as far as spending and I need to get back on the ball. I started reading My Total Money Makeover and it put many things in perspective for me. I mean honestly, it's just a matter of putting the mess beside and staying focused on the end result. First, you must save an emergency fund, starting with $1000. Next, create a Debt Snowball. This is where you put your debt in order from least to greatest.
Liam (truck) $3312.02
US Dept of Edu. $13790.00
Sallie Mae $562220.00
This is my total debt. At the end of this month ING will be paid off. Once that is done, I will put about $300-$400 more on Liam until he is paid off. When Liam is paid off, that will allow me to put at least $900-$1000 toward the US Dept of Edu. Sallie Mae is the most I have to pay back excluding my houses. They are later on the list.
My goal is to have all debt paid off within the next 2 1/2 years. Selling Betty's Only candles and doing right by my money will allow me to meet this goal.
I am looking forward to what the future holds. Throughout this I believe I have been having little break throughs. Because I know the answer and what to do, but it seems that life happens and I make the wrong turn. That quick fix seems to always outway the better in the long run. It is alright to get somethings that you want, but it is better to put the money toward the debt. As long as I owe people, the money that I make really isn't mine. Is it? Not paying my debts will make me pay more money in the end. I don't want to give my debtors more than I have too. And that's for real!
Thanks everyone for reading. I may bump my head along the way, learn from my mistakes so that you can better your financial situation. I know the things that I want out of life and I know how I will get them.
Saturday, November 8, 2008
Creating a budget is one of the things I seriously need to do every month. By December 08, I will have a $1000 emergency fund. I have been spending and got fussed at for spending. I know the things I purchased could have waited, but I didn't. Bad, no not really I deserve things sometimes. I bought a small rug for the entrance of the house, a pillow for the sofa, something to pick up hot things, black tights, and a dress. I am in the mood of making the house look more inviting. There are still somethings missing, some minor upgrades would be nice.
I got denied for the house until January of 09 due to having a late payment on my mortgage January 08. The loan officer sent me my credit scores. I have a 641, 631, and 629, they are all above 600, that is interesting. I guess from paying off that $50 medical bill brought my scores up. Good job!
As for the house, if it is still available in January, I will try again. If it is meant to be it will still be there when I am ready, if not, there is somthing else out there for me.
I am ready for the next step of my financial freedom. There are things that are close to being paid off. These are the first things I must take care of:
February 09, Liam (Land Rover)paid off: $3378.69
March 09, Get back in PhD program: $4500
These will be taken care of and I am taking the steps to get it done. I haven't eaten out in a few days, so that is moving an a different direction. I cooked breakfast, lunch was left overs, dinner stroganoff. Saving money in that aspect.
The morning tutorial and basketball are bringing in extra money. They are both monthly and will not come in a lump sum. I need to go to pay roll and shift some money around. Selling Betty's Only candles will bring in more money too.
I am looking forward to achieving financial freedom. I am learning as I go. The growth may take some time, but I know I will achieve my goal. One of the things I will be able to is purchase without having to borrow. I think that is awesome. By 35, I will have that capability.
Monday, November 3, 2008
Money is slowing coming in. Whether it is fast or slow at least it's coming in right? Betty's Only has been bringing me money. I just need to have a better face for the company. As for now, I have made $47.00 in candles with a pending $55.00 so total $112.00. That is good. I guess I go through the woo is me stage. Sometimes you are up and others down.
On a lighter note, I found out that I have to get back in school before June of 09. That gives me time to make money so I can pay for school. I always have another story. I will not go into details though.
Currently, I am 33 and have some awesome goals to achieve. Having financial success will better my situation. I not only want financial success, but I want to have generational wealth for my family.
I will work daily to increase my potential and live in the moment. Life is what I make it and I will make it a success. I sometimes have mess on my brain and it is hard for me to stay focused, but I know one thing, this time next year, I will not be in this same place.
Monday, October 27, 2008
Six Steps to a Higher Credit Score
Sunday, October 26, 2008
Yesterday was a interesting day. I actually got many things done and am looking toward the future. The house situation, my loan officer sent my application to underwriting. The house is in forecloser and it is a great find. Monday, I will put a bid in for it. Things work out, the closing will not be until January because one of my mortgage payments was late last January. Mortgage lateness stays on your credit report for 1 year. You can't have a late mortgage payment on your credit report if trying to purchase another home. It was my fault, I had to evict a tenant and didn't pay the rent myself. In between then and now, I know to pay the mortgage within a 30 day time period. This way it is late, but it will not affect your credit score. It will if it is 31 days late. So, I have learned to pay so that it will not drop credit score.
My credit score is low, but my loan officer said I really don't have bad credit. The things that are on my credit report are: 2 houses, my car, a loan I co-signed for, student loans (deferred until 2010). That is all. It is just a matter of getting a higher score.
I made candles yesterday and socialized on twitter. I am Betty's Only on Twitter, follow me. As for www.bettysonly.biz and Betty's Only on Etsy. The first 5 purchases will receive a $5.00 gift. I have been pushing Betty's Only. I thought last night I need to sell $1000.00 worth of candles before the year is out.
Promote my business and myself is what I am going to do from now on. No more being timid. I am stepping out. Let everyone know that Betty's Only offers great candles. I will be back later with some great advice on purchasing a home. Right now is a buyers market and we will talk more about that later. Have a great day and thnk of ways to promote your self and make extra money. We all have hidden talents.
Friday, October 24, 2008
Ok, my credit score as an average is 602. There is a house that has been on the market for the last few months. The price has dropped drastically. My real estate agent phoned last night. I felt upset and angry at myself for not being in a better financial state. But you know what? Nothing beats a failure, but a try. I am going to meet with her to see if it may be possible to purchase the property. It is a 4 bedroom, 3 bath, fireplace, pool, 2 car garage. Since the economy has taken a downward turn, the house will be worth at least $250,000 when the economy improves.
This situation has really made me want to do better with my financial situation. Ok, not only this situation, but other occurances too. Today, I am going to look for creative ways to finance this property. If it is not for me, there will be another one that is much better.
Learning is an option and I will learn from everyone that I can. People have had serious experiences and I will get to a better place with education, interaction and determination.
Monday, October 20, 2008
All I have to say is that things happen for a reason and you get what you ask for. I will put this extra money to good use and not blow it. I have learned much and I have debt and my ultimate goal is to have financial freedom and I know I can achieve it.
How to Get Good Credit
Friday, October 17, 2008
Ya, I have life insurance and I am glad. One thing off of my list. The next step is a living will and a will. They are needed with GA being a probate state. I do not want the state to take my assets. Start early and put your money to good use. The economy will be, but if you are prepared you will sustain the ups and downs. Think about it. Start now, tomorrow is not promised.
You know we learn many things from school, but we don't learn about finances and how to manage money, or make the right financial decisions. Take the time out to learn about your money. Diversify, please. Banks make money off of your money. Most plans invest your money and charge you a penalty for pulling your money out. Why? Because they are using your money to earn money for themselves. I know we say that I will handle my finances later when I have enough time. The time is now. Stop putting it off and take a stance for your money. Generational poverty exists. What will you do to stop it?
CHAPTER FOUR: CHARACTERISTICS OF GENERATIONAL POVERTY
Family Patterns in Generational Poverty
Thursday, October 16, 2008
Sunday, October 12, 2008
Our next financial meeting will be October 30 and I think that I am ready. At the end of the month I will have labels and business cards for Betty's Only. Started a will and working on gettting rid of the debt I have accumlated. I know I can be success and I will obtain financial freedom, it is just a matter of getting things together. Not overspending and doing right by my money.
I thought about it, I have some change. I may use that to put toward something anything. What I don't know, but it will work out in the long run.
I messed up, but I will make it better. Things are falling in place. Sometimes, they get worse before they get better. One more thing 700 credit score by December will it be in my future? Only time will tell.
There are several things I set out to do, but where unable to accomplish them. It is hard to stay focused on my goals when the unexpected always seems to appear. The extra money that I am spending on overdraft fees could go to savings or getting Liam paid off. No need to dwell on my past mistakes. Just continue to look toward the future. Better myself in all areas. November definitely no overdrafts at all. Christmas is coming up and I am not getting any younger. Making the right decisions is key.
I honestly enjoy writing this. It always me to express my views and my money and how and what I do with it. I know I don't always make the right financial decisions, but I am on the right path. For instance, I have assets, my houses. I want more houses, but its a matter of building my credit score up. Things take time and patience. My credit score will come up and when it does, I will be ready to receive all of the benefits of having a higher credit score. Refinance both houses will be a main thing. I have two 30 year mortgages. I will refinance for 15 years and be finished paying on them by the time I am 45, not 63. That is serious. Enough rambling below are some money related websites. Enjoy and thank you for reading what I have to say.
The Real Estate Refinance Blog
Home Mortgage Refinance Blog
How not to overdraft your checking account - Banking Basics - Helium
Budgets are Sexy.: When you overdraw your checking account does ...
TCF Bank - Tips to Avoid Overdraft and Deposit Service Fees
AskMen.com - Eliminate debt
Dr. Phil.com - Advice - An Action Plan for Eliminating Debt
Sunday, October 5, 2008
1. No overdrawing in my account: I understand how detrimental this is to my financial report cared, but sometimes things come up that are unforseen.
2. Get a will: This is much needed especially with having assets, that I don't want the state taking control of. You can get a template of a will online and take it to the government center and have them file it. Instead of getting a lawyer and going that route.
3. Save money and not spend all of it: This is very important, spending more than I earn is not what's up. Having something to fall back on is a must.
4. Pay off a $50.00 debt on my credit report: I can't believe my credit score dropped. The only thing that needs to be paid is this. I have other things, but they are in good standing.
It is sometimes hard to do the right thing, but doing right by your money is what we all need to do. We wonder why we don't have enough to be able to have that wonderful vacation. All is needed is to budget and not overspend. Make plans and decide how you will obtain your goal. My biggest enemy is myself and I will overcome what is stopping me from achieving my dreams.
Beachgirl's Budget Blog
EasyBudgeting's Personal Finance Blog
Jaeneen's Favorite Blogs // Budgeting Blogs // BlogCatalog
Continue to do right by your money. Everything you want you don't need! Put your money to work for you! Use is wisely and watch your money change!
Monday, September 29, 2008
Raquel, it was my pleasure meeting you. Ladies as always, I enjoy your company and love spending time with you catching up on all the great things that have happened in your life. We are maturing and making great advancements. Being stagnant is not an option.
Tuesday, September 23, 2008
Sunday, September 21, 2008
Below are some links to how to invest in the stock market:
If you are interested in the stock market please use these links. If you already invest in the stock market let me know how you do it.
Monday, September 15, 2008
Sunday, September 14, 2008
Saturday, September 13, 2008
During the month of July, I started a Financial Planning/Support Group. We meet monthly to discuss our financial goals as well as personal goals. There are only 6 of us, but we have been working diligently to help each other obtain our goals. The first thing we discussed was our credit history and scores. Many people are afraid to talk about money or even look at there finances. How can you know if you are afraid to find out? So for the month of August everyone had to find out their credit history. When we met in August everyone found out that information and had started paying things off or even disputing the information. We used http://www.freecreditreport.com/ to find out our credit history. Many of us had things on our report that was old, or wasn't our, we had no clue about it, or the information was just wrong. For $39.95 a month you can get all three reports and scores. You can only dispute with Experian online.
Equifax Information Services LLC
TransUnion Customer Relations
Save $450.00 for 8 months: $3600.00
Truck paid off January 09 balance of $3,930.54
Don't Overdraw in my Checking Account
Stop borrowing money
Learn about investing in the Stock Market
Build money with current properties
Refinance both homes
Pay off Student Loans
Make money online
Stop spending unnecessarily
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