Sunday, March 15, 2009

The Time is Now

There have been many things going on in my life. The main one is maturity. This has been an ongoing process for me. I don't know when it actually started to happen, but I know it is relevant in my life. I look at money in a totally different light. Gradual changes have taken place for instance: cutting up my check card, taking money out of my account monthly, bringing lunches to work. There are more, I just have to think about them.

I wasn't going to post, but I got the posting feeling. Overall, things are good. Am I overdrawn in my checking account, yes. Why, something did an automatic withdrawal that I wasn't ready for. I actually needed it so I didn't ask for a refund.

Big Steps
Today, I called to get my due dates changed for my cable and phone bills. Tomorrow, I am getting rid of HBO and Cinemax, these two channels will save me about $25.00 a month totalling $300 a year. The reason I changed my due dates is that with my cable bill I am not meeting the date so $5.00 is added to my bill. That's not much, but it could go to something else. I also need to call my insurance company because that is an automatic withdrawal when I don't have the funds in my account. This totals a $35.00 fee. Not good.

Finished bills
Liam $0.00 (received title)
ING $0.00
debt on credit report $0.00
This saves $380.00 a month to go toward any debt I choose.

New Bills
Walden University $4,310.00 for term
Wachovia $3,170 since 1993
US Dept of Education $13,784 (since 1993)

PhD Educational Techology
As for Walden, this will be paid off by the end of May. This is the only way I will be able to register for the next term. The way I figure, taking one class per term and completing one KAM per term, I will be finished with all courses and KAMs by August 2010. Being on academic probation is why I am paying for school. This will save money in the long run because it will be one less loan I have to pay back. I may have to pay for the next term too. It goes from June to September. If I do, that will be fine. In the meantime, I am going to apply for financial aid because my GPA will be up at the end of this term.

1993 Student Loans
Wachovia and US Dept of Education are loans I have had since 1993, that is ashamed. I am ok with that. Due to my job position I am eligible to have money taken off of my loans, but I can't have a loan prior to 1995. These must be paid off by the end of the school term 2010.

This is my plan:
Walden University : $1,437 a month until it is paid off
Wachovia: $25.00 a month until Walden taken care of after that all goes to Wachovia
US Dept of Education: $25.00 a month until Walden and Wachovia paid off

All of these are big ticket items. I know, but when life gives you lemons it is up to me to make lemonade. I sometimes wonder why these things keep happening to me. Is it because I thought it or am I being tested? Who knows, all I do know is that it is up to me to do the right thing and handle my finances.

Cutting back and maintaining are all apart of the plan. Going to the bookstore and reading personal finance books have made me think a little different. As long as I owe, the money I make is not mine. There are stories where people go on big vacations and have debt. The money spent on the vacation could have gone toward the debt. That made me think of myself. I want to take a cruise during Spring Break, but I can't do that. The money that I was going to pay for the cruise needs and will go toward paying my tuition to Walden. I will be Dr. Willetta Jackson.

We are half way through the month and I did a big thing. I went to Sam's and did my monthly grocery shopping. The items that I purchased will last for a while. The only things that will needed to be purchased are vegetables. I am proud of myself, shopping at Sam's made me feel grown. Honestly, there will be enough food left over for the next month.

Things are looking good and I am ready for the future to take place. I know what my finances are and where my money goes, now it's up to me to cut back and put the money where it is needed.

2010 is rapidly approaching and I have been teaching for 10 years. I have much to show, but there is so much more I could have done with the money I have made during this time. The time is now to make a difference in what I have been given. It's not about having the biggest house, the nicest car, or the most lavish parties. It's about making your money work for you. Knowing is half the battle. I know and now I am willing to make a change.

Something else, our vehicles take away from the cash that we have. Monthly payments, insurance, maintenance, upgrades, all of these things cost money and take away from other things you could be doing.

Liam is paid for. This is a list of all the things needed to be fixed on Liam, mind you Liam is a 99 Land Rover.
oil change and tune up
drain cleaned for sun and moon roof repaired
new tires
park light replaced
power steering
back speaker
new grill
back windshield wiper
back red light
power locks

These are not major items, but I will get the least expensive item fixed first and work my way up. When it rains it pours, but I love walking in the rain. Things will work themselves out and I will be successful in my endeavors.
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