Advice needed
Page 1 of 2 12 LastLast
Results 1 to 15 of 18

Thread: Advice needed

  1. #1
    FV Buddy Kate117's Avatar
    Join Date
    Nov 2002
    Location
    MN
    Posts
    189
    Post Thanks / WTG / Hug
    Rep Power
    12

    Unhappy Advice needed

    I would really like to hear what kind of things you guys are doing to get out of debt. We are beyond buried under it. My debt between medical bills, a loan and a few over due bills is about 4,000. My husband on the other hand is in debt for darn near close to 35,000 :surprise: We are just scraping by and are despartley trying to come up with the money to buy some more propane because of a leak and now pay off a bill to avoid legal action because we have nothing in savings. I am literally ill I am so stressed about this. I would love any tips or tricks to help us out of this financial nightmare. Thanks for listening.

  2. #2
    Registered User Mom23boys's Avatar
    Join Date
    May 2002
    Location
    Texas
    Age
    44
    Posts
    18,987
    Post Thanks / WTG / Hug
    Rep Power
    36

    Default

    Kate, I am sending you hugs

    I am sure there will be others here that will have wonderful ideas. I can only suggest a budget and stick to it. Include everything you spend in the budget (newspaper, groceries, gas, lunches, etc.) and then see what you can cut back on and pay a little more to.

    I think you will receive geat advice.

    Hang in there!

  3. #3
    Registered User nealy's Avatar
    Join Date
    Aug 2002
    Age
    38
    Posts
    403
    Post Thanks / WTG / Hug
    Rep Power
    12

    Default

    I am sending you my best, I can suggest a few things but I need to know more about the kind of debt you are in? Is it credit, or school loans, car loans etc.? What are the percentage rates if any? If they are loans how long until they are paid off? How much if any can you cut back? Budgeting can really help, We budget for the things that cannot be changed, for us that is rent, heat, water, insurance, and the minimum on our credit cards. The rest like entertainment, phone, eating out, groceries, and spending money are variable, often more than not, we don't have the money to just go out and spend what we want, it took a lot of getting used to, no more running to the book store for me!LOL. We do not have cable, or any extra's on our phone service, we allow a certain amount of money for long distance, 5.00 a month. And we don't charge any thing we cannot pay off that month. When our car broke we didn't want to spend the money to fix it so it was sold, we went without a second car for awhile. As I said before, I am not quite sure what your circumstances are or what your habits are in the spending saving area, but these are a few things that we do to stay in line, we do stray off course occasionally but we know the tools on how to get back on track! Good luck, try and remember that is it only money take care of yourself and your family, this too shall pass! HUGS!

    Nealy

  4. #4
    Master Dollar Stretcher aka AngeleeBob mylittle4's Avatar
    Join Date
    Sep 2002
    Location
    central missouri
    Age
    37
    Posts
    1,471
    Post Thanks / WTG / Hug
    Rep Power
    13

    Default

    I am going to try to help. First I am sending you ((((HUGS)))))I started babysitting for awhile. It was something I could do and still stay ta home. Check your state to find out how many children you can watch w/o a liscense. Every state is different. In my case I took kids for the state. In MO you can have 4 unrelated. The state paid me without to much paperwork and red tape. I made about $1200.00 / month. It all came on one check from the state and I used that check to pay bills. You can only cut so many corners. You should sit down and figure out if you can squeeze anything out of the budget or if you are going to have to supplement your income some how. Try these if you are not already.
    1. Never pay full price. This takes some practice, but within time you will be able to buy things with coupons, when they are on sale, or the generic version.
    2. Shop rummage sales with 4 kids I can not express this enough
    3. Keep track of your expenses. Always know where your money is going.
    4. Go to the library and check out The Complete Tightwad Gazette. She is a die hard and you do not have to do all she does, but that book changed my life.
    5 This is probably most important. When you are feeling deprived and need to rant feel free to come to the village. We are all here for you and feel the pain of wanting to buy something and not being able to.
    Good Luck!

  5. #5
    FV Buddy Kate117's Avatar
    Join Date
    Nov 2002
    Location
    MN
    Posts
    189
    Post Thanks / WTG / Hug
    Rep Power
    12

    Default

    Thanks for the advice/support. I got the Complete Tightwads Gazette for christmas and have started reading it and am going to try implementing some of her ideas to help us out. I am trying to find things around the house that are in good shape to try and sell. I have sold some crafts I make and am hoping to make some more to sell with the supplies I have around the house. I am also selling Tupperware and Homemade Gourmet to hopefully earn some more money. It just seems like whenever we get some paid there is 3x as much to go. Coming here will help me too I think you guys are all so nice and it's nice to know that I am not alone.

  6. #6
    Registered User MANDERS's Avatar
    Join Date
    Feb 2002
    Location
    Coffeyville, KS
    Age
    34
    Posts
    1,906
    Post Thanks / WTG / Hug
    Rep Power
    14

    Default

    Kate my prayers are with you.I love the tightwad gazette!She was an inspiration to me.Just read it over and over,things might not seem possible now,but later on it will.It was that way for me almost 2 years ago when ds was born,I thought we weren't gonna make it and lose everything,but now we are closer than ever to getting out of debt and its all thanks to frugality and the wonderful ladies here.

  7. #7
    Tourist
    Join Date
    Dec 2002
    Posts
    69
    Post Thanks / WTG / Hug
    Rep Power
    0

    Default

    Have you considered going to one of those non-profit consumer credit counseling services? I've never used one, but it may be something to check out.

    When we were facing big time debt, the best thing we did was to STOP buying ANYTHING on credit. We paid off small bills first, and then took that payment and applied it to the larger ones until they were gone.

    I love Amy Dacyczyn's Tightwad Gazette, for both practical ideas and for inspiration.

    Good luck.

  8. #8
    Registered User
    Join Date
    Dec 2002
    Location
    Indiana
    Posts
    139
    Post Thanks / WTG / Hug
    Rep Power
    12

    Default

    I feel for you. Sometimes medical bills can be reduced if you talk to those that you owe and explain your situation. If any of your debt is for students loans, you may try calling them and and ask for a hardship delay. This may give you 6-12 mos of no payments(interest will still acrue). While this will do nothing to reduce your debt, it will afford you the opportunity to concentrate on ohter bills. Buy a small pocket-sized notepad and write down every penny that you spend. You may be suprized at how much you are spending "nickle & dime".

  9. #9
    Registered User heaven's Avatar
    Join Date
    Jan 2002
    Location
    RED SOX THE WORLD CHAMPS LAND
    Posts
    4,730
    Post Thanks / WTG / Hug
    Rep Power
    17

    Default

    i was going to suggest the same thing katie did, try a non profit credit counslor. they should be able to help get the payments lowered. GOOD LUCK. Rant anytime you feel the need.

  10. #10
    Registered User
    Join Date
    Jul 2002
    Posts
    23,290
    Post Thanks / WTG / Hug
    Blog Entries
    15
    Rep Power
    43

    Default

    Sending big {{{{hugs}}}. I know how difficult this can be. We were $18,000.00 in debt 6 years ago and we decided enough. We did the following:

    - cut up all cc and paid only cash for everything. If we didn't have the cash, we didn't buy.

    - we stopped eating out and everything was made from scratch, not something I enjoyed doing at the time, but saved us big $$.

    - We tracked everything we spent for 3 months and it was amazing some of the area we were weak in, especially when it came to groceries and eating out.

    - we wrote to the cc companies and explained our budget and what we could pay and would they accept that. We also asked them to cut out the interest rate or bring it down. All of them refused to bring the interest rate down, but they all gave us 3 months interest free. It helped in bringing down our totals.

    - we walked when we could and only went where we had to with our vehicle. In fact, we were without a vehicle for over a year. Dh had a company truck and that was our means of transportation.

    - when going to the doctors, we asked for sample medications when we needed medicine. Our family physician never failed to supply us with free medicine.

    - I never refused anything given to us. If we couldn't use it, I would give it to someone who could. I was given so many zucchini one time from a neighbour and thought why am I doing this. But I learnt to make muffins, bread, pickles and then gave the rest away.

    - we had a couple of craft sales and although we didn't make huge amounts, we put that money towards debt. We also begin making crafts and sold (at reduced prices) in order to pay off debt.

    - any birthday money, anniversary or Christmas money all went towards debt.

    These are only some suggestions. I also think a credit counsellor can be of help as long as you don't consolidate your debt and then go back into debt like we did a number of times before we learnt not to do that again.

    btw - I think I read you sell crafts. Have you tried selling them on the auction here. Or even your Tupperware you might want to try the auction here. All you have to do is sign up and then start a thread as to what you've put in the auction.

  11. #11
    Registered User TheCottageRose's Avatar
    Join Date
    Nov 2002
    Location
    Texas
    Posts
    448
    Post Thanks / WTG / Hug
    Rep Power
    12

    Default

    Hi Kate,

    Bless your heart, don't feel like you are all alone, you are NOT.

    We have all been there before, seriously.

    Tell us what kind of loans they are...also, share with us what you are doing now to reduce the outgo. Once we know that, we can perhaps pinpoint a couple things to help.

    Also, I thought it was a great idea to look after children, if you have the temperment....that can really help roll in some cash within a couple weeks time.

    We are here to support each other....so let us know how we can help.

  12. #12
    Spendthrift Guru aka MaryBob mgory29379's Avatar
    Join Date
    Oct 2002
    Location
    South Carolina
    Age
    40
    Posts
    254
    Post Thanks / WTG / Hug
    Rep Power
    12

    Default

    I know how you feel. I just recently went back to work and it is hard trying to catch up. Have you thought about calling one of those debt consolidators that do it non profit. There are several out there and you can save a lot a month. You would really be surprised. Trying selling some of you items on the auction site here. I love tupperware and I am sure the others do too. Good luck and lots of

  13. #13
    Registered User CAGmomof2's Avatar
    Join Date
    Apr 2002
    Location
    SouthernUSA(SC)
    Age
    34
    Posts
    1,626
    Post Thanks / WTG / Hug
    Rep Power
    14

    Default I don't have much advice either but I just wanted to let you know that you are not ..

    I don't have much advice either but I just wanted to let you know that you are not alone when it comes to trying to get out of debt.
    My Dh and I are trying to get out of debt as well.
    We are actually trying to start the Debt Snowball Method as well.

  14. #14
    Registered User Lori Biever-Launder's Avatar
    Join Date
    Jan 2002
    Location
    Newberg, Oregon
    Age
    53
    Posts
    4,279
    Post Thanks / WTG / Hug
    Rep Power
    18

    Default

    Kate, there are some things you can cut out that you may not even have thought of. For example, I make ice tea when money is tight. We don't buy a lot of pop regularly, but you can make GALLONS of tea for the price of ONE 2 liter bottle!

    Don't forget that your library is your biggest entertainment value in your town. You can get CDs, videos, DVDs (many libraries have these, but not all--yet), tapes, and...oh yes, lett's not forget--BOOKS! I work at our library and can tell you that we have many, many FREE pregrams for all different sorts of people. For example, tomrorrow we have a paperback exchange and are showing "Lilo and Stitch" FREE. Later this month we are having a quilting workshop. We have story times every week. You name it--your library has it!

    You have many expenses that are fixed (more or less) every month. However, you can cut a LOT on your grocery bill. Check out the "Dinner Challenge" thread in the Challenges section. I have been posting meals for 4 for under a dollar TOTAL. Imagine cooking a full week's meals for less that $20.00! Yep, it CAN be done!

    You might want to check with your local food bank if money is extremely tight. They can set you up with a food box that can get you through a couple of weeks so you can use your grocery money to pay for some propane.

    Don't forget that you can make some money at home/on the side to help out too. Sell some things on eBay! These don't have to be big expensive things. We just sold some books this week and are about $80.00 richer!

    Do you know how to fish/hunt? If so, get out there and catch a mess of fish and shoot a couple of squirrels!

    Check with the produce department at your local grocery store. Ask if you can buy some of the old produce for your pigs. We all know you don't have pigs--they don't! A lot of grocers will GIVE you a truckload of "bad" produce. You might have to do some sorting, but 90% of what will be in the bags will be good after a bad spot or two is cut out of them. The bakery may also do the same thing.

    I know these things sound extreme, but if it means eating, paying your bills and NOT losing your house, it's worth it! Don't forget to see if you qualify for food stamps.

    Also, if your car bills are very hefty, it may be time to sell one (or both!) and buy ONE cheaper car or (if you can) use public transportation. I live where public trans. is nonexistant, so I combine errands and walk quite a bit.

    Hang in there, girl. We feel for you and many of us have walked in your shoes. There IS a light at the end of this tunnel and it's NOT the train coming to run you down!


  15. #15
    Registered User Shell's Avatar
    Join Date
    Apr 2002
    Location
    Vancouver, BC Canada
    Posts
    3,221
    Post Thanks / WTG / Hug
    Rep Power
    16

    Default

    When I was short of money I sold some books and clothes. I also have friends that had a Japanese exchange student stay with them a couple of months. They got $700 per student each month. They were wonderful girls. Very polite. You do have to feed them and drive them to school though.

    My Mom in order to make ends meet had students from the university stay with us. I got to meet wonderful people from all over the world. One time we even had a prince stay with us. Well he was the 40th child so no one would have heard of him.

    Check out the library for books on paying debt. There are some wonderful ideas out there. We know you can do it!!!!!!


Page 1 of 2 12 LastLast

Similar Threads

  1. Advice Needed
    By Giro in forum Debt Reduction & Money Management
    Replies: 20
    Last Post: 12-29-2011, 08:45 PM
  2. Advice needed
    By erinalexmom in forum Debt Reduction & Money Management
    Replies: 26
    Last Post: 09-24-2010, 07:57 PM
  3. Help! Advice needed.
    By momishem in forum Financial hardship
    Replies: 11
    Last Post: 08-24-2008, 06:16 PM
  4. Advice needed please
    By Jaded in forum Debt Reduction & Money Management
    Replies: 9
    Last Post: 07-08-2007, 08:11 PM
  5. Advice Needed
    By mnmarty03 in forum Debt Reduction & Money Management
    Replies: 8
    Last Post: 01-06-2007, 08:39 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •