Sunday, June 21, 2009

Learning From Every Post

There have been gains as far as My Financial Success is concerned. Every post tends to be different. Overall, this blog is about what steps I take to achieve financial freedom. The journey has been long and hard and I feel that I have grown every day. It takes time and dedication to grow from your own mistakes and to learn from what others have done.

Right now, I am at a block. To do this or to do that. Peggy has been giving me some sound advice. Growth is something that I am doing and I have to build to just say no to somethings. For instance, I know I can watch tv on the Internet, but to actually get rid of cable, that is going to take some time. I did get rid of HBO and Cinemax, keeping Showtime, Sundance, Starz, and Encore. Thinking really hard about getting rid of another channel. The phone is another issue, having the Internet and phone in a bundle has given me features that come along with the packet. Caller ID, comes in handy. Getting rid of call waiting, three way, and all the other things will save me money two. My phone bill may just be under $25.00 a month cutting those features.

Sometimes I get confused on what is more important. Here are the challenges that I face financially. Background history, two loans from undergraduate school have not been paid in full. They are in deferment until January 2011 (anticipated graduation date Walden University). Since I work at a low income school, I qualify for teacher loan forgiveness program. Due to having loans prior to October 1998 the money can not be taken off. Hence my wanting to get these loans paid off so my post graduate loans can be relieved.

Now that the tax lien has reared its ugly head, which is more important?
Wachovia: $2,680.57
Tax Lien: $5,927.42
US Dept. of Education: $13,402.56

The quicker I pay them off the quicker I can do other things. Maybe this is what I will do. Instead of paying $200.00 a month on Wachovia, I will be $500.00 a month of the tax lien. Wachovia will receive $100 and the US Dept of Education will get $25.00 monthly. More will be paid on Wachovia and the tax lien as I make more money. The tax lien and Wachovia will be done for by December 09.

What is important tends to take the back burner to things that hold no relevance to my life. It is so easy to loss sight of the main thing. This month was one of them. There are only 9 weeks to my vacation and I have wasted almost 3 of them. Relaxing, getting confused, and not doing a thing has me feeling lackadesic. The real estate bug has biten me again. Properties are out there waiting to be purchased and rented out.

Back to the debts. I am going to pay the minimum on the student loans and put the lump sum on the tax lien. I have to get what I want for me. Having the lien paid for will allow me other opportunties. Working extra, selling candles, and tutoring will support paying off debt. It will be done.

Right now, I feel anxious ready to make things happen. Taking one day at a time and doing what I can with what I have will help. Things will work themselves out. It takes me to always be ontop of my money and put it to good use.
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