Things Take Time

Anything worth having is worth working for. There have been many things in my life that I wanted and it took some effort for them to come a reality. Time and time again, I think of what I should have and don't. The effort that is attached in achieving things does take time and effort. When it is all said and done the experience was needed. It also let's me know that I can do anything I put my mind to.

Working Toward Making it Happen
No financial aid for me. Yes, I am on academic probation. Totally my fault, I admit my wrong. Now, I should be eligible fo financial aid again. Talking with financial aid and academic advising for the past week has helped. There is a disconnect in communication. Tomorrow, I will contact academic advising to have them email a statement verifying that I have made my gpa and my rate of completion. Everything should be a go.

Paid off my portion of the tax lien, $956.35. I also had to give my mother her money back, $850. This shows me that I have money to pay bills, just managing and doing right by the money is what always tends to get me.

My Six Year Plan
Thinking about my life and realizing that there are six years before I am 40 years of age. What will be going on in my life at 40? This is why I came up with my six year plan. Sorting out each year with what I should have accomplished will help me accomplish my goals.

Year 1 September 2009-2010
KAMs 1, 2, 3 complete
Finished all classes
Tax Lien Paid Off
Moved from 617 Wilder Drive
Wachovia Paid Off
Spanish Class
Financial Aid (Got that)
Turned house into personal care home
Bought 1 four bedroom
Working on dissertation
Will
Saved $10,000
Online education

This is year one, I will post the next years later. I am proud of myself and the things I have done, that never seems enough.

The End Summer Break is Nearing

Summer break is right around the corner and I have made some major improvements. For instance, I took out a loan to pay for school. Actually, I did that just to see if I could get a loan with the tax lien and yes, I was able to. Since I did that school has been paid for for this term (June-August). Also, this will free up major cash at the end of the month. I started paying my bills when they come instead of paying them when I get paid at the end of every month. This has saved my money since I am not paying late fees. At the end of July, I will pay my portion of the tax lien off which totals $956.35. They don't take personal checks so I have to get a money order or cashiers check.

In not having to pay for school I will have a free $2,000 at the end of July and August. The loans monthly payment is $187.00. I took out a $5,000 loan. Thinking and organizing my future financial moves has been trying and I have things completely mapped out.

Walden University
This term has been paid for as I stated. The next term starts in September and lasts until November. Paying for this term is a thing that must be done. It will be done by the end of November. How? Ok, every month brings an extra $2,000. I will not start paying for the fall term until the end of September ($2,000). In October another $2,000 the term will be paid off then. Until I complete school every two months I will pay $2,000 for the term.

I know that financial aid is a good thing. On the other hand, it isn't because that is money that will have to be paid back once I complete school. I already owe about $55,000 in school debt, if I continued to receive financial aid by the time I graduate I will owe over $100,000. Not trying to have that much debt on my report. I am looking at things in a positive light. Yes, I was hoping I would get financial aid once I passed my courses, but I didn't. Truly, this was a blessing in disguise, honestly it was. So thanks for that!

Tax Lien
The total of the tax lien was almost $12,000. Now, it is $6,000 give or take a few. Those in between months that I am not paying for school I will pay off the tax lien. The lien is broken down by two vehicles. The Escalade and the Explorer. The Explorer is the cheaper debt and it will be paid off at the end of this month.

All I know is the lien will not be a factor by the end of 09. Leaving that in this year.

$5,000 Loan
Alright, I know I said I wouldn't get another loan, but I just had to try. Obtaining the loan has stopped much stress I had in having to pay for school. It threw my off when I was told I wouldn't get aid for school. That is A ok! The loan will be paid of in the next three months I believe. My plans are to pay off the loan before the end of the year. In doing this, it will benefit my credit score greatly. Once this loan is paid off I am going to get another one maybe for more money and have it paid off soon too. I have a plan just work with me on that. I am not going backward I promise.

Undergraduate Loans
Wachovia $2,580.57
US Dept of Education $13,000

Wachovia will be paid off by the end of the year. I have been paying $25.00 a month of the US Dept of Education loan. Slowly getting things taken care of. In my mind it is ashamed to have undergraduate debt and I have been out of school since 2000. Go figure. It will all work itself out.

My Savings Plan
I started saving a few months ago and have been dipping into my money. One thing I can say is I put it back. In my savings account I have about $100. When I get paid at the end of the month that will be $1,000. My goal is to have at least $5,000 by the end of the year.

Overall
Every other month will be a payment. Paying something toward my debts. School is a priority and I think I finally have it under control. Work with me. Eventhough, I have been paying things off, I still have been wasting money. At some point it has to come to a stop. I see what is going on and I contribute that to My Financial Success. Having to be accountable for my actions is a big thing. Not overdrawing in my account, doing what is right by my money, and learning from others has put a big push to pay off all of my debts. I have a plan and I know it will work all I have to do is stop wasting and do right by the money I receive.

If it's not One Thing It's Another

In my last post, I stated that things are not as bad as they once were. Now, I am begging to differ. Currently, there is a tax lien on my credit report that I was not aware of. Also, there are two undergraduate student loans that need to be paid off so I can qualify for the teacher loan forgiveness program. There can not be any loans prior to 1998 to be able to receive this forgiveness.

Day before yesterday I found out that I didn't meet the requirements to receive financial aid for this term. Turning lemons into lemonade. Not getting financial aid will cut down on the amount of money I will owe once I complete my PhD. On the other hand, this is $4,310 that could be going to something else. The world and it's occurances are something. There are actually three terms in one year. That totals $12,930 a year. I keep telling myself, this is money and interest I do not have to pay out once I am finished.

Credit Reports

Since finding out this news, my mind has been going a million miles a minute trying to sort out my plan of action to pay off my debts. Yesterday, I pulled my credit report and found that I have a 587, 635, and 635. My scores are better than they were without the tax lien.

This is my plan of action:

Pay $2,000 a month of debts for the next year. This will total $24,000. Using that money will allow me to pay off the tax lien in three months. Starting in September, it will be paid off by December. Through it all, I am going to continue paying something on Wachovia and US Dept of Education.

Life Happens

Life happens and it is all up to me to make sure I stay afloat. It is so easy to give up and just fall victim. I refuse to be a victim to my debt. Giving up vacations to pay off debt is a sacrifice and I am willing to sacrifice that money to have financial freedom. Another thing, I have $54,000 in school debt. The funny thing about that is I make about this much yearly.

Overall, I am somewhat saddened by not receiving financial aid. This is the outcome of not doing what is needed at the moment. Thinking about my life and how I have wasted time, energy, and money by not doing something when it needed to be done. No longer can I do that to myself. I am tired of doing this to myself and my money. Maturity is taking place and I am proud to say I am ready for the changes to occur in my life. Sacrifice is what is taking place in my life. I am ready for the changes and the debt will be handled.

My Finances are Better than They once Were

Looking over finances takes time, dedication, honesty, focus, and a bunch of other things. You must be willing to bear all and open up about the money you make. While writing on My Financial Success I have realized that yes, I have wasted money over the years. Now, I am willing to make a difference with the money I bring home. Once upon a time, I couldn't tell you where my money went. All I knew is that it was all gone. No more and there where still 15 days left in the month. Truly, I got tired of living that way. The material items and that instantaneous thrill will only last for a moment. The financial value will have depleted over time, no longer being worth the amount that you spent.

No longer will I finance anything. All of my purchases will be with cash, check, money order or cashier's check. The interest rate and fees are ridiculous that are charged when you finance or take out a loan. What is the point? The extra cash you spend payin on that could be going to something else.

As for my cable, I got rid of Showtime. I am slowly cutting the extra channels. The phone and Internet can not be cut. I am sure there is something that could be done about my fews. To total I believe my monthly pay out is about $400.00 a month. That really isn't that bad. Working toward cutting more costs.

The tax lien has to be paid separately, so I am going to pay $450.00 for July and August. Those two payments will pay for the Ford Explorer. In September, I will pay $1,000 a month to get the Escalade paid for. Never let anyone use your SSN for anything. I can admit my ignorance. Also, if you purchase a vehicle out of state the sales tax is not included in that purchase. The SSN thing I knew that and I thought the person would handle responsibilities, I was wrong. Purchasing a vehicle out of state and tagging it in another county was new on me. You live and you learn.

These are my serious debts
Wachovia $3600
Tax Lien $6,000
US Dept of Education $13,000

In order to pay off my debts, I will put all of my extra cash toward the above listed challenges. Figuring out other avenues where I cut corners on spending. $24,000 will be paid off by August 2o1o. I will say it over and over, the money I make is not mine if I owe a collector. I will pay off these debts and have them behind me. In the mean time, I will save cash too. No longer will I waste the money that I make. I have a goal to retire by 40. Doing the things that I have been doing in the past have not been successful. Changing my money habits will benefit me and my family in the long run. Building generational wealth is my goal.

Haven't heard anything from my appeal letter for reinstatement of my financial aid. Will call tomorrow to find out what is going on. They said it would be 2 weeks, it has been 15 days.

The other day, I went to Barnes and Noble and looked over some personal finance books. They really motivated me to get back on track. Really tired of wasting money.

It takes a person to finally get tired of things to really make a difference, well I am tired.

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.

Tax Liens and How they can Affect you

Previously I discussed having a tax lien on my credit report pertaining to a vehicle. I have learned a lesson and have taken full responisibility for the debt that is on my credit report.

3 Things You Should be Aware of

1. Don't give someone your social security number: I allowed my brother to put a car in my name. I never drove the car, rode in the car, or anything of that manner. Now I have a tax lien on my credit report close to $9,000. First, I permitted him to use my SSN to put the car in my name so who is at fault? Mine, of course.

2. Ask about the taxes on a vehicle when you purchase it out of state or in another county: When I first inquired about the lien I was told that it was dealing with a Cadillac Escalade. I disputed it and of course it didn't come off. When I went today, it involves that vehicle and my old truck. Both cars where purchased in other states and the tag was issued in GA. Because the tags where purchased here, the company didn't charge taxes on the vehicle. Please ask if the will charge you tax so you don't get caught years later owing a debt that you are unaware of.

3. Stay On Top of all debts: If you receive documentation stating that you owe anything contact them and ask what it is. See if they can provide some background information to let you know what it is specifically. Debtors do make mistakes so if you feel that it doesn't belong to you dispute it. If it doesn't it will be removed from your credit report.

The Light Makes Things Clearer
This situation has brought me to the light. I was unaware, now I am glad that I found out. I asked her to explain it to me so I would get a clear understanding of what was going on.

I have to pay my part. There is a third party helping me with this situation with my relative. He has to do his part because he was misled.

Where there's a will there's a way. Things happen for a reason. I sometimes question why they always happen to me. Maybe it's not the time for me to experience whatever. Don't fret because trouble doesn't last always. I know that financial success will be mine. I just have to move forward and do the best with what I am given.