Sunday, November 30, 2008

I am Doing The Right Thing

I cut up my debit card. I had to do it for the betterment of the people. I told you that I missed up real bad this month. Cutting up the check card was the best thing that I have done for myself in a while. Since it is no longer in my life, I have not spent that much cash. Actually, I went to the bank yesterday and withdrew $150. With that money, I put gas in the car, we ate breakfast at Shoney's, and I bought groceries with the reminder. I put that money to good use.

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

Oops I did it Again!!!!!!!

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

I Think I Finally got it Together

Have you heard of Dave Ramsey? My Total Money Makeover this is the link.

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.

ING $450
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

Am I Really Ready?

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

Take One Day At a Time

Every day it seems that new challenge surface. Today there are no challenges, but it always seems a day late and a dollar short. As for the house, I can't do anything until January due to having a late payment on one of the properties. You live and learn. As for now, I am taking baby steps to better my financial situation. Moving money around, finalizing some lose ends and cutting corners where needed.

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.